Advantage: Incumbent Realtor Want one more reason to hire the seasoned, local Realtor (vs., say, your high school buddy, or your first cousin’s best friend’s uncle?). Not only will they get you the best possible deal in today’s fast-paced housing market — but they may very well save it once it progresses to the critical...Read More
The Goldilocks Approach As I’ve discussed in previous posts, the essence of pricing real estate is what’s called “bracketing.” (See, “Bracketing,” Explained“; and “Why the Neighbor’s House Usually Isn’t a Comp“). Translation: you need to find a home that’s just above the home you’re trying to price (called the “subject property”) and one that’s just...Read More
“Everyone is entitled to his own opinion, but not to his own facts.” –Daniel Patrick Moynihan Substitute “Comp’s” — as in “Comparable Sold Properties” — for “facts,” and you’ve got a pretty good rule of thumb for pricing residential real estate. So, while prospective home sellers can (and do!) compare their home to any properties...Read More
What Is — and Isn’t — Relevant Pricing a Home Wait a second! Why, in early July, am I discussing homes that sold last December? Because they pop up as “Comp’s” (Comparable Sold Properties) for at least 2 relatively unique homes that I’m trying to price for clients now. No doubt (many) other Twin Cities agents are...Read More
Big and Little Home Seller Questions Examples of big questions that home sellers must grapple with include, “How much should I list for?” and “What prep should I do beforehand?” At the other extreme are little — but still important — questions such as, “Do I need to be home to let the city inspector...Read More
Did the Appraiser Goof? A client trying to refinance his mortgage recently ran into a not-uncommon problem: a low appraisal. My client was convinced that the appraiser goofed because — amongst other things — the appraiser listed the home as only having one Bathroom, not two. Unfortunately, the second Bathroom is in the basement. Because...Read More
