Handwritten “Home Highlights” Nobody uses Post-it notes more than me. They’re on my desk, near my phone, in my wallet, and on my family’s fridge. I’d probably put them on my wrist if they stuck there. So, where don’t hand-written Post-it’s belong? Near a hand-carved fireplace mantel, custom moldings, or other high-end features in a $600k...Read More
“Post-Bubble Price Behavior” If you don’t track financial blogs, the Op-Ed pages of The Wall Street Journal, etc. on the state of the housing market, allow me to summarize what the bears are currently saying (my paraphrase): “Yes, after a 35% price drop nationally, the air has been let out of the housing bubble. And...Read More
How does a listing agent who just sold their client’s home in multiple offers ensure that it appraises? A. Provide the Appraiser with helpful Comp’s (Comparable Sold Properties). B. Email the Appraiser the runner-up offers (with identifying info expunged). C. Raise the listing price on MLS. D. All of the above. Correct answer: D. Of course,...Read More
Mortgage Finance True or False True or false: being underwater (owing more on a home than the home’s worth) precludes an owner from refinancing. Answer: False. You’re excused for answering “true”; normally, if the homeowner has no equity, there’s no collateral to secure the lender’s mortgage. Today is most certainly not a “normal” environment, though....Read More
Of High Tides and Homes A recession is when your neighbor loses their job. A depression is when you lose yours. –Harry Truman A good economy is when you get a raise. A great economy is when you get a raise and a promotion. –Corollary, Ross Kaplan What do those observations have to do with...Read More
Counterpart to The Motivated Seller “I have a buyer coming to town and we will be buying a home for them, next Tuesday/Wednesday.” –Realtor “broadcast” email, describing the Buyer’s price range, desired home criteria, geographic preference, etc. When you think about the housing market and motivation, most people think about Seller motivation. “Why are they...Read More
