Now That’s a Tough Comp Not since Richard M. Nixon lived in a New York City apartment has the market tried to assess the value of immediate proximity to the president in a dense, urban neighborhood. —Susan Saulny, “Hyde Park House for Sale Comes With a View: The Obamas; The NY Times (9/15/09) As I’ve...Read More
Misconceptions About “Comp’s” Perhaps no other term in real estate seems so straightforward, yet is so commonly misunderstood, as the term, “comparable sold property (“comp” for short). As Realtors and appraisers use the term, a comp has a very specific — and narrow — definition: namely, a recently sold, similar property that can be used...Read More
Picking Up the Pieces After a Fall-Through Fools rush in where angels fears to tread.–Alexander Pope “Sale Fell Through!” “Back on the Market!” Great house! You don’t have to spend much time on MLS these days to see evidence of busted deals. So what exactly is going on? Do any of these deals represent opportunities...Read More
