how much

Determining the Discount (Premium??) for Homes Located Across From a School

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

Discounting For a One-Car Garage: How Much?

Three Factors How much do you discount for a one-car garage? The short answer: “it depends.” Specifically, I think that the three most important variables are: One. What is the surrounding housing stock like? In close-in, older Minneapolis neighborhoods, many homes have one car garages (still). Detached, one car garages. When that’s the standard, the...
Read More

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...
Read More

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...
Read More

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...
Read More

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...
Read More
1 2 3 4 5