home discount

How Valuable is Having an Upstairs Laundry?

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...
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Can a For-Sale Home Be in TOO Good Condition??

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...
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Did the Seller Leave Money on the Table?

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...
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Edina House for $2.2 million?

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...
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"We-Might-as-Well" Remodeling

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...
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Edina’s Country Club for $200/sq. ft.

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,...
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