Comparative Market Analysis

Painters, Electricians & Realtors: What Makes Real Estate Sales Such a Deceptively Challenging Field

Behind-the-Scenes Tasks The reason dolphins have a reputation for saving drowning swimmers is that you never hear from all the ones they push out to sea.” –Anonymous. Electricians’ work product is literally hidden behind the wall. So, how do you know if an electrician is any good? (barring a house fire or molten-hot service panel...
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Days on Market: One (Two-Thirds of a Day??).** Number of Showings: 50+(!)

Just Listed: 2905 Princeton Ave. South in Fern Hill You might think a high(!) temperature today of 2° — never mind the windchill — would have a, umm . . . chilling effect on the Twin Cities housing market.🙂 Nope. As of late this afternoon, newly-listed 2905 Princeton Avenue South in St. Louis Park’s Fern...
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Price Reductions: a First Chance to Make a Second Impression

When?  How Much? If an otherwise well-staged, well-marketed home isn’t selling after a reasonable interval on the market**, a price reduction is invariably indicated. How big? It all depends on how overpriced the home appears to be. Toss Out the CMA Once a home is actually on the market, interest from prospective Buyers ” or...
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How Valuable is Having an Upstairs Laundry?

Calculating Premiums & Discounts in a Comparative Market Analysis (“CMA”) How much value do Realtors and Appraisers assign to an upstairs Laundry when estimating a home’s fair market value? The honest answer is, I’ve never seen it broken out as a specific adjustment, with a corresponding price tag (or even range) assigned to it. That’s...
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Would-Be Home Seller to Realtor: “It’s NOT a Teardown?!?” “#%@&!!”

Pluses & Minuses (2 Apiece) At least in my experience, for every long-time homeowner who’s (overly) invested in their home, psychologically-speaking, and can only see it through rose-colored glasses, there are another 3 (or 10!) hoping their home is a teardown, especially if it’s located in a hot area. Ditto for the listing agent waiting in...
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Realtor Job Description (at least, THIS Realtor)

All Part of the (Ongoing) Job If you went to your estate attorney for a will in 2016, then needed an update now, you’d expect to be invoiced for the new work, right? Similarly, if your dentist put in a crown four years ago, then you needed a cavity filled today, you’d expect the dentist...
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