“How Long Was the Home on the Market?” vs. “How Much Exposure Did the Home Get?” With multiple offers making a comeback in parts of the Twin Cities — I’ve been involved in three in just the last six weeks — it seems appropriate to ask, “Did that just-listed home sell TOO fast?” It’s certainly...Read More
Realtor Rules of Thumb Once upon a time, when homes were cheap, Realtors had a saying: “10 showings, $10,000.” In other words, if a home had 10 showings but hadn’t sold, a $10,000 price cut was in order. Then, home prices went up — seemingly forever — and the phrase fell out of favor. Guess...Read More
Guilt By Association When agents see a listing — on February 14, in Minnesota — with leafy trees and a bright, green lawn (like the one above), their knee-jerk response isn’t to say to themselves, “My, what gorgeous landscaping.” It’s to click on “History” on MLS to see how long the home’s been on the market —...Read More
Parsing MLS Lingo One of the more confusing concepts on MLS is “Days on Market” vs. “CDOM” (Cumulative Days on Market) vs. “History.” Initially, it’s pretty straightforward: after 30 days on the market, a given listing’s “Days on Market” is . . . surprise! . . . 30; CDOM is 30; and “History” shows one...Read More
“Name . . . That . . . Tune Market Time!!” I’d be terrible at “Name that Tune” (I’m tone-deaf and know next to nothing about contemporary music — or any other kind). If you blindfolded me, I couldn’t tell you if I was smelling a rose or rotten eggs (my sense of smell is worse than my musical aptitude). But if I went...Read More
My Favorite Real Estate Movie My favorite real estate movie, “Groundhog Day” (1993), actually isn’t even about real estate. It’s a romantic comedy in which the suitor, played by Bill Murray, gets to perfect his courting strategy — courtesy of a time loop that causes him to relive the same day, over and over. After various setbacks, his...Read More
