deal breaker

Discounting for Condition: How Much?

Not Just Price Tag, Scope of Work Discounting for a home’s “vintage” condition is inherently subjective. Some Buyers don’t want to tackle anything more challenging than painting a Bedroom (if that). Others ” especially if they have contracting skills (or access to them) ” are up for remodeling the Kitchen, Bath’s and anything else that...
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Real Estate Marketing 101: When to Acknowledge a Home Needs Updating — & When Not To

Beauty in the Eye of the Beholder Buyer When should a listing agent (representing the Seller) explicitly acknowledge in their marketing that a home “needs cosmetic updates” (or the equivalent)? Less often than you might guess. Here are my three reasons why: One. The pictures tell the story. For years, websites like EdinaRealty.com have allowed...
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Listing Agent to Prospective Buyers: “You May Want to Skip This House” (Huh?!?)

Hiding Highlighting Potential Dealbreakers OK, so the listing agent (representing the Seller) didn’t tell prospective Buyers that they may want to skip her client’s “For Sale” Edina home. She told Buyers’ agents. Specifically, the listing agent used an MLS section only visible to Realtors, “Agent Remarks,” to highlight a potential deal breaker: If your clients...
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The Premium (Discount?) for a Backyard Swimming Pool — Before and After Coronavirus

Deal Maker or Deal Breaker? What is the premium (or discount) for a backyard swimming pool? I’m not sure I’ve ever seen a single, reliable number. That’s likely because a pool’s appeal is very much Buyer-specific — not to mention variable by price point and geographic region. Minneapolis vs. Miami So, for example, for a...
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Estimating the Discount for a Busy Street (or Not)

The Art of Comp Selection One of the trickier home features to account for in a Comparative Market Analysis (“CMA”) is a busy street. For a family with little kids, a busy street may very well be a deal breaker ” in which case the discount is theoretically infinite. At the other extreme, an investor looking...
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Explaining High Turnover on a Busy Street (The OTHER Reason)

Dream Home?  Maybe Not, But Dream Price Everyone in real estate (and many outside of it) knows the phenomenon:  homes on busy streets turn over more often. The explanation is self-evident, right?  The occupants get tired of the traffic and move on. That may certainly be true, but as a Realtor, I see another, economics-based...
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