Does Over-Interviewing Lead to Overpricing? Anxious Buyers aren’t the only ones bidding up home prices (or at least list prices) this year. So are some Realtors, including at least a few who should (and do) know better. “Buying the Listing” One of the things that can happen when prospective home Sellers interview lots of agents...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
You Know They Know You Know (Know What I Mean?) Not all overpriced homes are created equal (and today’s housing market seems to have more than usual). In fact, it sure seems (at least to me) like they divide into two camps: 1) Sellers who are overpriced and know it; and 2) Sellers who are...Read More
After the Purchase Agreement is Signed, But Before Closing Loose lips may not sink (housing) ships — but they can cost a Seller money. That’s especially true if their home’s ultimate sales price was (well) below the last asking (list) price, and the deal subsequently doesn’t close. Funny how, in that rare-but-unhappy scenario, the discounted...Read More
Multiple Offer Multiple Choice This (admittedly nondescript) brick cottage in St. Louis Park’s Fern Hill neighborhood came on the market June 1 at a list price of $90,000, and was switched to “Pending” 10 days later. The transaction closed August 13 (and was just posted on MLS this morning). What was the sales price? A....Read More
Taking $50k, $75k — or More(!) Off the Last Asking Price Overpriced listings have a way of coming down to earth, and Buyers who can afford to be patient can often pick up the property at a (much) better price once the Seller has become more realistic. Of course, Buyers who wait risk that the Seller...Read More
