Would-Be Home Sellers Beware “If your parents don’t have children, you won’t either.” –old joke. “If your home doesn’t get showings, it won’t get offers, either.” –real estate equivalent Not a few would-be Sellers, arguing for a too-high listing price, rationalize that “Buyers always come in low, so why not leave a little (or a...Read More
The High Cost of “Free” Marketing Whenever I hear a national speaker and supposed industry expert exhort Realtors to give away price opinions for free, as a marketing tool, my reaction is always, “How much are you getting paid to speak to all of us today?” (note: Realtors’ term for a formal price opinion is...Read More
Dueling Comp’s (and Spreadsheets) Real estate negotiation can involve lots of back-and-forth and numerous fine points, but in my experience, it’s usually not productive to get into a detailed discussion of/argument over the Comp’s, also known as “Comparable Sold Properties.” Put it it this way: I’ve yet to have the other side say, mid-negotiation, “you...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 (11/4/2010). The answer to the...Read More
Appraisal Reconsideration “True”or “False” Consider the following scenario, then answer “Yes” or “No”: An appraisal on a recent home sale comes in low. The next week, a (very) similar home that had been “Pending” at the time the appraisal was done subsequently closes . . . . for well above asking price. Can the closed...Read More
Stock “Comp’s” vs. Housing “Comp’s” If you want to buy 100 shares of Google or Amazon, what are the comp’s? How much the last Buyer paid a fraction of a second ago. After all, stock is fungible: every share (at least common) is the same as every other. Nanoseconds vs. Weeks (Months?) Now, assume you...Read More
