Key Variables: Type of School, Buyer Characteristics Homes on busy streets typically fetch a discount. Is there an equivalent discount for homes located across from a school? (which, in a way, is really just a subset of “busy street” — call it, an “intermittently busy street”). I’ve never seen formal data on this, but I’d guess...Read More
Why No One’s Rooting For FREE* Ice Cream Once upon a time, people in the Twin Cities knew that when the thermometer dived, ice cream at local favorite Sebastian Joe’s went on sale. So, when the thermometer dipped to -17º below last night, the corresponding discount would be a cool (sorry) 25%, per the chart above....Read More
More than WHAT? My short answer to the question, “Can I get more for my house if I put on a new roof?” is, “yes, you can.” That is, if by “more,” you mean, “more than what you could have gotten for the home without a new roof ” especially if the current one is...Read More
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...Read More
“For Sale” Home Languishing on the Market? It (Usually) Shows Realtors constantly warn their home-selling clients about the risks of overpricing (especially in a soft market). Anyone who doubts that should tour a few homes that have just listed, then view homes that have been languishing on the market, unsold, for months (years?). Study in...Read More
Different Homes, Different Buyers It may seem counter-intuitive, but just because two “For Sale” homes share the same block and are listed for the same price, doesn’t necessarily mean they’re direct competitors. In fact, I can think of at least two scenarios where there’s virtually no overlap in the pool of prospective Buyers considering both...Read More
