Market Appreciation vs. Home Depreciation “In all cases in which work is produced by the agency of heat, a quantity of heat is consumed which is proportional to the work done.” —Rudolf Clausius, first law of thermodynamics. “An overpriced, “For Sale” home depreciates in value faster than an appreciating housing market rises.” —Ross Kaplan, first...Read More
“We Can Always Drop the Price, Right?” Yes, But . . . Wait a second! Don’t leftovers come after Thanksgiving? Not when it comes to the housing market. In my own neighborhood close to Minneapolis’ Cedar Lake, I’m aware of at least half a dozen very nice homes which came on the market as far back...Read More
Can Home Sellers Drop Their Price TOO Fast? Admittedly, the vast majority of the time, would-be Sellers of overpriced homes wait too long to reduce their asking price. But, something like 10% of the time when I see price drops, they occur too soon. The usual, three-step scenario: 1) the home was on Broker Tour...Read More
Can’t Show = Can’t Sell “If your parents don’t have children, you won’t either.” –old joke. “Show and sell!” –Common listing agent exhortation in the “Agent Remarks” section of MLS. It’s axiomatic that if, as a Buyer’s agent, you can’t get your client into a property . . . you ain’t going to sell it,...Read More
Market Appreciation vs. Home Depreciation “In all cases in which work is produced by the agency of heat, a quantity of heat is consumed which is proportional to the work done.” –Rudolf Clausius, first law of thermodynamics “An overpriced, “For Sale” home depreciates in value faster than an appreciating housing market rises.” –Ross Kaplan, first...Read More
Market Exposure > Days on Market; When 1 Week on the Market ≠1 Week on the Market I’m a big fan of aggressive, pre-list marketing. One of the easiest (and cheapest!) methods, especially for a home in a high-profile, high-demand location: install the “For Sale” sign early, and attach a “Coming Soon” rider (note:...Read More
