“You Know What They Meant” Dept. ‘Truely (sic) a diamond in the rough. A little neglect here will save your buyer thousands. A must see. Great location.” –“Agent remarks,” MLS. Presumably, the listing agent is referring to neglect on the Seller’s part, not suggesting that the Buyer neglect their new home. I suppose the obvious follow-up...Read More
Average Payment per Countrywide Victim: $1,595 “When you strike at a king, you must kill him.” –Ralph Waldo Emerson Surveying the latest paltry big bank settlement for predatory lending practices that helped pump up the housing market — before causing it to collapse — it seems obvious that Emerson’s famous line about killing kings has a...Read More
Just as Concerning as Too Messy The only thing worse than biting into an apple with a worm is . . . biting into an apple with half a worm! –Saying Is there really such a thing as a too-clean Seller’s Home Disclosure (required in Minnesota and many other states)? Absolutely. Even the best-built homes...Read More
Question #2: ‘Do They Come With the House?’ I’ve probably seen more than 50,000 exterior home shots (photos) on MLS in my decade selling real estate. But, I don’t believe I’ve previously seen one with people in it. Lots and lots of people. Looks like the Seller was having a party. Or, maybe the Seller is just...Read More
Estimating “Rental Turnaround Cost” “Normal Wear and Tear“: The inevitable physical decline of the condition of a property from time and usage. Normal wear-and-tear increases over the useful life of any property or asset. It results from normal usage by its occupants as well as from weather and other natural forces that surround it. Would-be...Read More
How Many Make a “Meteor Shower?” What’s a “housing market meteorite?” Like the celestial kind, they burst onto the scene in a brilliant flash of light; descend (in price) through the night sky (housing market) quickly; then just as quickly disappear (they’re sold). They often have these three additional attributes: One. They’re top-to-bottom (bottom-to-top?) rehab’s;...Read More
