Real Estate Math I showed clients an upper bracket Edina home yesterday that’s been languishing on the market — at ever-lower prices — for 3(!) years. The reason(s) became apparent literally 10 steps in the door: every square foot of the very large home needs updating (the online photos nicely camouflaged that). Given the home’s...Read More
“Full Plate” Syndrome (Unrelated to Thanksgiving) When a old, undersized house in a hot neighborhood for tear-downs and new construction fails to sell right away, what might be the explanation? In fact, just such a home debuted on the market near Minneapolis’ Cedar Lake this week. One possibility is that the home is overpriced. Theory...Read More
Diagnosis: Bad Marketing or Bad Price (Pick One) Even in a Seller’s market (psst! we’re officially in one), not every home sells. When that’s the case, what is going on? In my experience, one of two things: If the home isn’t getting showings, the problem is marketing. The property photos are a turn-off (assuming there...Read More
The Discount for “Stale?” A Lot. It’s only anecdotal, but it sure seems to me — and many other veteran Realtors — that “For Sale” homes today fall into one of two categories: 1) homes that hit the market well-prepped, well-priced, and with a lot of marketing fanfare — and sell in a few weeks; and...Read More
