Calculating Premiums & Discounts in a Comparative Market Analysis (“CMA”) How much value do Realtors and Appraisers assign to an upstairs Laundry when estimating a home’s fair market value? The honest answer is, I’ve never seen it broken out as a specific adjustment, with a corresponding price tag (or even range) assigned to it. That’s...Read More
The Upside of a Home with Downside When are prospective Buyers disappointed when they view a home that’s in TOO good condition? Is there even such a thing? Yeah, there is — at least for a specific kind of Buyer. Namely, one who’s looking at a home at (or just over) the top of their price...Read More
Four Ways to Tell In the history of mankind, no first-time Mother has ever under-dressed their newborn in the winter. –Manhattan Pediatrician So which pediatrician uttered the above line? Mine (and my wife’s). What prompted that comment were the 3 layers of clothing my wife had already put on our newborn son (this was 11...Read More
No, $2.2 Million Below Construction Cost Where: 64xx Indian Hills Road in Edina What: Six Bedroom/Nine Bath Smucker-built Italian residence with over 10,000 finished square feet. How much: list price = $3.39M Who: listed by Michael Nash, Edina Realty You don’t see that many $2 million-plus homes in the Twin Cities. You see even fewer homes...Read More
How Budgets Get BlownI ran into someone at my open house last Sunday who explained how their remodeling budget doubled: as the project unfolded and the contractor(s) suggested ways to improve the original plans — as well as correct problems that became apparent once the walls were opened up — the owners repeatedly found themselves...Read More
Discounting for an Achilles Heel Normally, homes in Edina’s tony Country Club neighborhood fetch anywhere from $300 – $400-plus per square feet. The home pictured above, located at 49xx Sunnyside, is selling for $200 a square foot (divide the $850k asking price by 4,233 square feet). What gives? It’s located just east of Highway 100,...Read More
