He Who Adjusts Least Adjusts Best” When it comes to pricing a home off of Comp’s (“Comparable Sold Properties”), the trick is to minimize both the number and absolute magnitude of the adjustments. The ideal would be a condo identical to its peers in every respect ” floor plan, size, condition, location, market conditions, etc....Read More
. . . . Or One Realtors representing Sellers (better known as “listing agents”) tend to be a lot more focused on Written Statements ” and specifically, Written Statement deadlines ” than their clients. There are two reasons for that: 1) it can be a technical subject (see below); and 2) most Buyers’ lenders meet...Read More
Comparing Honey Crisps to Braeburns One of the more quizzical looks Realtors get is when they (try to) explain to a prospective home Seller that their neighbor’s house isn’t a “Comp” (Comparable Sold Property). In plain English: it isn’t relevant ” at least directly ” for pricing their home. For the uninitiated, a Comp is one of the...Read More
Cash vs. Financed Deals Is 21 days enough time to buy a home? If two of those days are a holiday (Dec. 24 -25) AND the Buyer needs a mortgage . . . almost certainly not. That’s because, with a financed deal, it takes at least 10-12 business days just to secure a mortgage. In...Read More
When Appraisals Don’t Matter (and When They Do) [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] “Federal regulators have proposed loosening real-estate appraisal rules so a majority of homes can...Read More
“Only 61 53 46(!) Shopping Days Till Christmas!” Yeah, I know: there are still officially 53 days left in 2018. But, that’s cutting it pretty close for would-be home buyers and sellers who want to close by the end of the year. Here’s my math: Thanksgiving week: subtract Thursday and Friday (Nov. 22 and 23). Christmas: subtract Monday and...Read More
