From 16,000 Houses Down to . . . a Dozen or So “Before you’re addicted to heroin, you have lots of worries; after you’re addicted . . . you just have one.” –George Carlin on the “virtue” of being a heroin addict. “I’m not in favor of abolishing the government. I just want to shrink it...Read More
Looking For a Realtor? Or (Lots & Lots of) Compliments? I heard about a prospective home Seller the other day who interviewed seven (!) Realtors to list their home (I wasn’t one of them). To be sure, the home was a multi-million dollar estate on Lake Minnetonka, but still — seven Realtors?? I’m sure that...Read More
“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 you pay for it. As...Read More
Realtors’ “Free Sample” Problem College-bound high school athletes routinely sign them. So why not prospective home Buyers or Sellers? In fact, having something akin to a “letter of intent” in residential real estate could fill a genuine void. “All or Nothing” Now, the decision to hire a Realtor can feel like a leap of faith...Read More
The Art of Doing Comp’s Want the science art of Comp’s (for “Comparable Sold Properties”) in a nutshell? It’s placing a given (“subject”) property on a continuum, between the home just below it in price, and the one immediately above. What could be simpler, right? “This and That” Ahhh, but which two homes are those...Read More
Under Off the Radar In theory, to do a market analysis for a given home, you (“you” being a Realtor or Appraiser) log on to MLS, and do a search for similar, nearby homes that have sold within the last six months. Those are called “Comp’s,” and the magic number is three, good ones. Step...Read More
