Multiple Choice Quiz Test your knowledge of today’s real estate market, and answer the following question: Which of the following are to blame when a home does not appraise pursuant to a Purchase Agreement and mortgage application? (Note: the home being appraised is called the “subject home”; its peers, which establish value, are individually known...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
Two Bullets Would-be Sellers of upper brackets homes now — the slowest part of today’s housing market — often have to bite not one but two bullets. The first is pricing their home consistently with “the comp’s”: similar, nearby homes that have sold recently. In fact, better than the comp’s, depending on what’s currently active...Read More
How Realtors Grade Clients Clients may have a select few words for their Realtors, but Realtors also have some favorite words for their clients. No, not %!%*#! Rather, how “cooperative” they are. What do I mean by that? For Sellers, client cooperation boils down to these three things: 1. Pricing. A cooperative client picks a...Read More
What’s it Worth? Who Wants to Know? Pricing well is one of the most important skills a Realtor brings to the table. In turn, that depends on knowing which “comp’s,” or comparable sold properties, to choose. As defined by both Realtors and appraisers, the comp’s are the three homes most similar to the “subject property”...Read More
Sold! (For 1/3 of Tax Assessed Value) What: 3BR/3BA walkout rambler with almost 2,600 FSF Where: 2625 Quentin Ave. South, in St. Louis Park’s Fern Hill neighborhood How much: originally listed for $226,800 on Aug. 5. When: closed Nov. 18 (Thursday); just posted on MLS this morning. “Exhibit A” under the category, “don’t go by...Read More
