“Those who know, don’t talk; and those who talk, don’t know.” –stock market saying What’s true in the stock market is also true in real estate. Namely, the value of what Realtors call a “Comparative Market Analysis” (“CMA”) that can be had for free is . . . about what you pay for it. As...Read More
Crossing (Appraisal) Bridges When You Come to Them With housing prices now rising in most markets nationally, the risk of homes not appraising is generally receding. But, the risk still isn’t zero. Even so, it’s usually unwise — even if it’s possible — for the Buyer and Seller to address in the Purchase Agreement or...Read More
Why Metro-Wide Housing Prices Are Meaningless; “A Tale of Two Cities Minneapolis Neighborhoods” “It’s not a stock market. It’s a market of stocks.” –old saying “The housing recovery is real and sustained in the metro area, turning a buyer’s market into a seller’s market. But while some neighborhoods soar, others suffer.” –“Inside Twin Cities Housing...Read More
The OTHER Reason to See a Home That’s “Sold, Subject to Inspection” The usual reason for prospective Buyers to see a “For Sale” home is . . . they’re interested in buying it. But, if the home in question is “Sold, Subject to Inspection” — that is, it’s already under contract, but not past inspection...Read More
. . . vs. a Pound of Cure The “ounce of prevention” — at least for the listing agent (representing the home seller) — is straightforward: when the appraiser (representing the Buyer’s lender) schedules an appointment to view their client’s home, they email or call to introduce themselves. My usual m.o. is to tell the...Read More
Property Tax Assessed Value vs. Fair Market Value Hard as it might be to imagine, there’s actually one scenario where a home’s property tax value can be too low: when it’s about to go on the market. While the assessed value isn’t something that Realtors and Appraisers take into account to determine market value —...Read More
