That’s Your Offer? Really!?! “Pornography is hard to define . . . but I know it when I see it.” –Supreme Court Justice Potter Stewart No, there’s no scientific definition of a lowball offer, but like Potter Stewart, “I know one when I see one.” In fact, unbeknownst to laymen, there are actually three types...Read More
Smart Staging How do you make a home that may be smaller and/or have a challenging layout, feel bigger and more flowing? Pick one floor covering to use throughout. Depending on the size home, putting in a new, neutral-colored Berber carpet can cost $5,000 (or more). But, it can easily add 3x – 4x to...Read More
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
