Daunting Math for Homeowners Down ≥ 30% One of the most powerful psychological barriers to selling a home these days is owners’ insistence on breaking even. Unfortunately, after a 30% drop in prices nationally since 2006 (more in some locales), the math for many homeowners who bought near the market peak is daunting. So, even if you assume...Read More
Quarter Half-Hearted Marketing Campaign Given that something like 30% of all MLS listings are cancelled or simply expire, unsold, it seems fair to ask, “why didn’t it sell?” My Realtor’s answer is that, it’s usually never just one thing. So, poor (or no) staging; a quarter half-hearted marketing campaign; too few and/or unflattering photos; too...Read More
Dressing the Part In my post, “Contractor Etiquette,” I discuss all the substantive qualities that characterize a good contractor. While substance counts, so do appearances. In fact, at least initially, when the client is forming their first impression — or deciding who to hire! — the importance of dressing professionally can hardly be understated. So, in...Read More
Fewer Realtors = Less Lobbying Clout Want to know another reason why the mortgage interest deduction for homeowners is in jeopardy as never before? It’s not just because the budget deficit is ballooning, prompting policymakers to look for novel ways to raise revenue (although that’s certainly true). And it’s not because the philosophical case for the deduction —...Read More
Yellow Flag: ‘Pending’ Back to ‘Active.’ Fools rush in where angels fear to tread. –Alexander Pope To get their arms around a listing, especially when they have a Buyer in the wings, veteran agents like to poke through the home’s MLS history. How long has the home been on the market? How many price reductions...Read More
Divining the Direction of Housing Prices, One Deal (and Tick) at a Time Both the stock and housing markets have “upticks” and “down ticks.” The difference is that, in the stock market, ticks are measured in pennies, whereas in residential real estate, they’re measured in thousands — or even tens of thousands — of dollars....Read More
