Dear “Just Previewing” Realtor: “Smile! You’re On Candid Camera!!”** [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] Here’s a news flash for skeptical home Sellers (or, maybe not): not every...Read More
Weighing the Relative Risks of Action, Inaction Oddly, one of the best arguments I’ve ever heard for The Precautionary Principle — in Tom Friedman’s NYT column yesterday, titled “Trump’s Folly” — never once mentions the term. No matter. Here’s the idea: when considering a response to a looming threat, ask which way the risk(s) cut: ...Read More
Housing Winners & Losers in Sellers’ Markets & Buyers’ Markets Every housing market has its winners and losers. Every housing market. So, 7-8 years ago, when the market was tanking, the big winners were first-time Buyers — at least ones with (good) jobs and unblemished credit. With rock-bottom prices and an ocean of inventory, many...Read More
Averaging Apples & Oranges Here’s some no-brainer real estate advice: if you can find a 1,113 square foot Manhattan condo for $200k . . . grab it! Ditto for a 713 square foot condo in San Francisco for $200k. Of course, in real life, those properties would likely fetch 6x – 8X(!) that amount. Lies,...Read More
Where: near Rittenhouse Square in Philadelphia. When: Labor Day Weekend, 2017. What: under construction townhome. How much: no idea. You’ve got to hand it to the listing agent for this Philadelphia townhome: their sign “made ‘ya look.” While there’s obviously more to real estate sales than that . . . it’s a good start!Read More
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. My...Read More
