Sort of Like “Housing Musical Chairs” If you’re not familiar with the concept (or the 1969 book that coined the term), “the Peter Principle” stands for the proposition that large organizations will often promote executives up to — and then past — their level of competency. The inevitable result? Employees who eventually end up with...Read More
Do the Home Sellers Know That? Somehow, I very much doubt the boast on the sign (above), located in front of the St. Louis Park Costco earlier today (I blocked off the last 4 numbers because I don’t want to provide any free advertising). For starters, I don’t know any Sellers parting with their homes...Read More
Negotiating 101 Here’s a thought: your negotiating leverage is only as good as your “or else.” As in, “if you don’t accept my last offer, I’m going to . . . ” Or, “if $3,000 towards your list of repairs isn’t sufficient, I’m going to . . .” Two Scenarios At one extreme, if your...Read More
Buyer Strategy in a Seller’s Market “Never negotiate hungry. Or tired.” –Ross Kaplan, “Negotiating Advice” (12/7/2010) As I’ve discussed on this blog previously, the “How” of negotiating can be much less important than the “When” or “Where.” As in, “when to stop negotiating (and take a break),” and “never negotiate while driving” (you can’t take...Read More
How Rational? One of the most common concerns Buyers (especially first-time Buyers) have is, “what if I commit to buying this home, and then something ‘better’ comes on the market?” How reasonable is that fear? Put it this way: if the Buyer has done their homework, i.e., learned the market and fine-tuned what they’re looking for,...Read More
Chasing a Rising Market Many stock market observers believe that one of the key ingredients fueling recent record highs is something called “short covering” (note: I’m one of them). Whereas investors who “buy long” make money when stocks go up, short sellers profit when stocks fall (technically, they borrow stock to sell when they believe...Read More
