Sort of Like “Housing Musical Chairs” If you’re not familiar with the concept (or the 1969 book that coined the term), “the Peter Principle” stands for the proposition that large organizations will often promote executives up to — and then past — their level of competency. The inevitable result? Employees who eventually end up with...Read More
Does Over-Interviewing Lead to Overpricing? Anxious Buyers aren’t the only ones bidding up home prices (or at least list prices) this year. So are some Realtors, including at least a few who should (and do) know better. “Buying the Listing” One of the things that can happen when prospective home Sellers interview lots of agents...Read More
The “House-by-House, Block-by-Block” Housing Market Close-in, high demand area? Check. The home pictured above is in Minneapolis’ Bryn Mawr neighborhood, just west of downtown and northwest of the Lakes and Uptown. Affordable for first-time Buyers? Check. The $259,9k asking price is right in the middle of one of the housing market’s hottest price points. Nice...Read More
Raindrops & Price Reductions Notwithstanding the news headlines, not every home is selling in multiple offers the first day on the market. In fact, precisely because of those headlines, I’m seeing more Sellers insist on too-high initial asking prices. When a home isn’t selling — or even getting showings — standard operating procedure is to...Read More
Are Two “For Sale” Signs Better Than One? Not if the Home is Overpriced What do you do if the home you have listed on a busy street isn’t selling (because it’s overpriced), and the owner won’t agree to a price reduction? (note: it’s not my listing). In the case of a Cape Cod currently...Read More
You Know They Know You Know (Know What I Mean?) Not all overpriced homes are created equal (and today’s housing market seems to have more than usual). In fact, it sure seems (at least to me) like they divide into two camps: 1) Sellers who are overpriced and know it; and 2) Sellers who are...Read More
