Consider This a Little Big Sign With the usual number of homes temporarily taken off the market over the holidays, plus “For Sale” homes that simply expire without selling (something like one-third of all listed homes), a home’s status this time of year can be a question mark. So, here’s a BIG hint: if there’s a large post...Read More
What Passes For Hyperbole Large Home in FANTASTIC Neighborhood! LOCATION!!!! Great 2 Story Home ALL 4 Bdr. upper Level! Lot Line boarders gorgeous park!! –Agent Remarks, MLS Is using lots(!!) of exclamation marks and EXCESSIVE AMOUNTS OF LOUD TYPE good marketing?!? You tell me. . . . P.S.: “bordering” a park is a good thing. ...Read More
Pricing a Home When the Comp’s are Tough “You have to know the rules before you know when you can break them.” Normally, the standard way of doing a CMA (“Comparative Market Analysis”) is to limit your focus to three Comp’s, or “Comparable Sold Properties.” By definition, those are the nearby homes most similar in...Read More
How Many “Active” Short Sales are Under Contract? Four thousand Twin Cities short sales — the number of “Active” such listings on MLS right now — certainly sounds like a lot. At least until you dig a little deeper. It turns out that roughly half of those are under contract. Because the bank(s) haven’t signed off yet, the...Read More
Commission Saved: $8,000 Hit to Sales Price: $20,000 In FSBO Mistake #4, I chronicled the case of the hapless For Sale By Owner (“FSBO”) in Golden Valley who wasted their first — and best — month of market exposure incorrectly classified as a “Foreclosure” on MLS. Hit to their bottom line? I’d estimate 3% to 5%....Read More
“You Know What They Meant” Dept. ‘Truely (sic) a diamond in the rough. A little neglect here will save your buyer thousands. A must see. Great location.” –“Agent remarks,” MLS. Presumably, the listing agent is referring to neglect on the Seller’s part, not suggesting that the Buyer neglect their new home. I suppose the obvious follow-up...Read More
