“Death By a Thousand Cuts” (Or Raises) No home Seller, quite understandably, wants to leave money on the table. No Buyer wants to overpay. Which is why it can be so tempting to initially list for too much (Sellers) or offer too little (Buyers). Big mistake. That’s because what often happens next — and by “next,” I mean, “several...Read More
Home Not Selling? Only 3 Possible Explanations “When the student is ready, the teacher will appear.” –Buddhist sayings “When a home is priced right, Buyers will appear.” –Ross Kaplan I don’t know much about Buddhism, but I do know about selling residential real estate. Many frustrated home Sellers don’t want to hear this, but here goes:...Read More
When you see an overpriced home languishing on the market at the same price, seemingly forever, it’s tempting to think the home owner is greedy, stubborn — or both. The more sympathetic (and likely) explanation? The homeowner/would-be Seller is drowning in debt. Not Underwater . . . But Lapping at their Feet Specifically, the amount...Read More
Now, THAT’s a Deal! “An overpriced “For Sale” home depreciates in value faster than an appreciating housing market rises.” —Ross Kaplan, first law of real estate; “Market Appreciation vs. Home Depreciation” (10/23/2013) Here’s a news flash for at least some prospective home Sellers: even in a Seller’s market like today’s, not everything sells right away,...Read More
“Ten Showings, $10,000” — Updated Realtors have a saying: “ten showings, $10,000.” What that means is, if a home has been shown by 10 agents — each representing a serious, well-qualified Buyer — and it still hasn’t sold . . . it’s overpriced by at least $10,000. Of course, $10k presumes an average, $250k home....Read More
“We Can Always Drop the Price, Right?” Yes, But . . . Don’t leftovers come after Thanksgiving, not before? 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 as...Read More
