Tag

cost of improvements

Which of These Four Factors Are Relevant for Pricing a Home?

Seller Psychology vs. Market Reality Quick!  Which of the following are relevant for determining a home’s current value? A. What the owner/seller paid for it. B. What their neighbor sold their home for a year ago. C. What the other neighbor currently is listing their home for. D. How much money the owner spent on improvements. Answer:  none of...
Read More

List Price + Updates > New = Overpriced

Real Estate Math I showed clients an upper bracket Edina home yesterday that’s been languishing on the market — at ever-lower prices — for 3(!) years. The reason(s) became apparent literally 10 steps in the door:  every square foot of the very large home needs updating (the online photos nicely camouflaged that). Given the home’s...
Read More

Archives