Taking Yes Full Price For an Answer “He who governs least governs best.” –Thomas Jefferson “He who negotiates least negotiates best.” –Ross Kaplan Soviet dissident (and now Israeli politician) Natan Sharansky once explained how he and his fellow dissidents helped pass the time in solitary confinement. Adept at Morse code and held in adjacent cells, they...Read More
“Under the Radar” Deals Nine times out of ten, when Realtors refer to a “Comp,” they mean a “Comparable Sold Property” — what agents and appraisers alike rely on to establish fair market value for a given property. So, what’s a “COMP?” An acronym for “Came on Market Pending Sale.” The usual scenario is a private...Read More
Included: $2 Million Guest House On the coasts, $5 million is nothing for a home. Here in the Twin Cities, however, that’s still quite a bit. Especially for a home NOT on a lake. One Two-of-a-Kind To be sure, the home in question — just west of Minneapolis’ Cedar Lake — boasts stunning lake and skyline...Read More
Handling an estate sale, depending on the circumstances, can be (very) hard for Realtors. That’s especially true if they are close to the family. But, at least one part is easy: setting a price on the home’s value as of the date the former owner (“decedent”) passed away. The heirs typically need that value for...Read More
Seller Misconceptions “Sunk Cost”: a retrospective (past) cost that has already been incurred and cannot be recovered. –Wikipedia What Sellers paid for their home — and how much they subsequently put into it (for improvements, updates, etc.) — are important psychologically.* And, depending on how much the would-be Seller currently owes on their home, the sum of their cost + improvements...Read More
Area Code 612 vs. 619 Listing agents — at least ones who want their deals to close smoothly and on time — now routinely meet Appraisers at the home.* See, “An Ounce of (Real Estate) Prevention.” Their goal? To make sure the Appraiser has all the info they need to support the home’s sale price....Read More
