One Way to Tell It’s a moot point if your (Buyer) client doesn’t like the home, but if they do, and certainly if they’re mulling an offer, one of the more important pieces of information to glean is, “how much showing activity has there been?” That’s relevant because it tells you how much (if any)...Read More
Pinball Wizard . . . or Dunce? The analogy is lost on anyone under 30 — too many electronic video games — but I like to invoke something called “the Tilt Factor” in pricing my clients’ homes. By that, I mean that it’s fine to be aggressive, and pick a price at the high range...Read More
“What’s That House Cost?” — Vol. #42 Want to buy 100 shares of Microsoft? If the last trade was for $25.43, it’s a good bet that you’ll have to pay . . . .$25.43 (or maybe $25.42 or $25.44). Want to buy a nicely updated, four Bedroom Colonial in East Edina? That’ll be . ....Read More
Lack of Information & Objectivity Not all Home Sellers misprice — or would if their Realtor didn’t convince them not to — but enough do that it begs the question: why? From my perspective, it’s usually a combination of three factors (none of which involve vanity or ego). One. Lack of information (about the Comp’s,...Read More
Seller Motivation (and Lack Thereof)Does “not needing to sell” make your house worth more? At least some Sellers seem to think so. Put it this way: You seldom hear a Buyer, in the middle of a negotiation, say, “You know, we don’t NEED to buy.” Yet Sellers, on the other side of the same negotiation,...Read More
Housing Market Circular Reasoning The reason more upper bracket homes aren’t selling . . . is because more upper bracket homes aren’t selling. Huh? Once a deal is struck, the lender’s appraiser seeks to substantiate the value of the collateral — the home being sold — by looking to other, similar homes that have sold...Read More
