Home Price as a Moving Target “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...Read More
Realtors vs. Appraisers vs. Zillow “347-0″. That’s approximately the number of times ” most recently this afternoon ” that I’ve been called by Appraisers wanting the scoop on a property I’ve recently sold, vs. the number of times I’ve called an Appraiser to find out the same. Inside Scoop (Literally) Which makes sense: as the listing...Read More
Three Quibbles A new study purports to put a number on the value of curb appeal: 7%. The study’s authors did that by analyzing Google Street View photos and sales data from 88,980 properties in the greater Denver area. Specifically, they performed these three steps: “The researchers manually scored a set of properties, grading 400 images...Read More
(Partial) Realtor Job Description 2020: Multiple Choice Test your knowledge of modern residential real estate practice, and answer the following multiple choice question: Q: Who should the listing agent (representing the Seller) meet at the home? A. The appraiser working for the Buyer’s lender; B. The home inspector doing the city Truth-in-Sale-of-Housing (“TISH”) inspection; C. The...Read More
Sales Blockbuster a Big Surprise “We like to have a comparison title so that we can do sales forecasts, but in this case none of the comparisons work.” –“The Long Tail of ‘Where the Crawdads Sing”; The New York Times (12/21/19). It turns out that publishers estimate book sales the same way Realtors (and Appraisers)...Read More
Quick Answer: “It Depends ” But Usually Less Than Buyers Think” “At the closing table, the Seller will walk away with a check ” and whether the money comes from the Buyer or the lender doesn’t matter.” —”Do Home Buyers Who Pay Cash Get a Discount?”; The Wall Street Journal. The answer to the question,...Read More
