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
Plight of “The Kind-of-Dated House” The good is the enemy of the great. –Voltaire When it comes to enticing Buyers, “all new” is good (assuming it’s well-done). “Hopelessly dated” isn’t so good, but when that’s the case, at least it’s usually apparent to everyone (including the owner) — and priced accordingly. Which leaves the big,...Read More
Homes That Don’t Measure Up to Their Asking Price The quick Realtor answer to the question posed above? “No, not if the home’s worth closer to $1.3M.” That’s especially true if the owner with the unrealistic price expectations also expects a drumbeat of expensive marketing over the course of a year (or longer) — the...Read More
Mispriced Properties: Exhibit A Where: 46xx 1st Ave. South in Minneapolis What: Bank-owned (foreclosure) 3 BR/2 BA 1917 stucco home with 2,000 square feet. How (much): asking price — $72,900; sold price — $130,000 When: listed — 4/19/2009; closed –8/18/2009 In my post yesterday (Seller’s Motivation: Is it Relevant?”), I made the case that the...Read More
Can You Say, “No Boundaries?” How about, “Unprofessional?” To reduce stress and temper the disappointment of lower sale prices ” and also to keep clients from dropping them for another agent partway through a seemingly endless sales process ” some brokers are significantly expanding their job descriptions. Beyond rearranging furniture and decluttering, they take on...Read More
