Saved Searches on MLS How many people are watching a listing? And why does it matter? If a listing isn’t selling, one of the tools Realtors have to gauge interest today is how many prospective Buyers have “saved” the property on MLS; the more people who’ve save the property, the logic goes, the more likely...Read More
How Many Make a “Meteor Shower?” What’s a “housing market meteorite?” Like the celestial kind, they burst onto the scene in a brilliant flash of light; descend (in price) through the night sky (housing market) quickly; then just as quickly disappear (they’re sold). They often have these three additional attributes: One. They’re top-to-bottom (bottom-to-top?) rehab’s;...Read More
Taking $50k, $75k — or More(!) Off the Last Asking Price Overpriced listings have a way of coming down to earth, and Buyers who can afford to be patient can often pick up the property at a (much) better price once the Seller has become more realistic. Of course, Buyers who wait risk that the Seller...Read More
Testing an Unrealistic Seller It seems to be happening a lot in today’s housing market: Buyers find something they like, but — based on the Comp’s — the Seller’s price appears to be high. What to do? One option is to simply wait. Overpriced listings have a way of coming down to earth, and Buyers...Read More
Gap Between Last Ask, Sold Price One clue that a just-sold home had major inspection issues is when the sales price represents a big discount from the last asking price. So, for example, a house that was listed at $500k, was “Pending” on MLS for six weeks (give or take), then closed for . . ....Read More
Defining the Denominator One of the more useful (ballpark) benchmarks for determining a home’s likely selling price these days is what Realtors call “sales price as a percentage of list (or asking) price.” Depending on what part of the Twin Cities you’re talking about (and what price point), the number that’s out there at the moment is...Read More
