The Psychology of a Spurned Offer Sometimes, financial considerations prevent home owners from selling. If they owe more than their home is worth, they must either be able to write a check for the shortfall at closing, or, persuade their lender(s) to reduce the mortgage balance. However, such “underwater” home owners only account for a...Read More
“Serious” vs. “Non-Serious” Home Sellers Men are like taxis. The theory is that when a man is ready for, or open to, the possibility of a relationship he turns his taxi light on. If you happen to be the girl that hails the cab (him) while the light is on, you’ve got a possibility of...Read More
Does it Matter Why They’re Selling? Exquisite home available only due to job transfer. –Generic blurb on MLS Does it matter why someone’s selling their home? Prospective Buyers certainly seem to think so; seasoned Realtors, not so much. Here are three reasons why Realtors place much less emphasis on Seller motivation than the general public....Read More
Home for Sale — Batteries (& Owner) Not IncludedProspective home Buyers seem to attach a lot of significance to Sellers’ motivation (financial distress? Job transfer? Divorce? etc.). Realtors, not so much. For one thing, the three pieces of information a good Realtor is never going to tell you — at least not without authorization —...Read More
Trolling for Offers I don’t know how motivated Sellers are at the moment, but their Realtors sure seem to be! I showed perhaps half a dozen condo’s within a mile of Lake Calhoun over the weekend, which means that today is “feedback day.” If you didn’t know, it’s customary for the listing agent, who represents...Read More
Weekly Price Reductions . . Till it Sells What does a motivated seller look like? This pattern of price reductions comes about as close as anything you’re likely to see: 7/17/09: old price – $595k; new price – $585k8/7/09: old price – $585k; new price – $575k8/19/09: old price- $575k; new price – $565k8/26/09: old...Read More
