How do Appraisers and Realtors account for a bowling alley in the basement? Or some other unusual feature, like a helicopter landing pad, 10,000 gallon aquarium, basement basketball court, bomb shelter, soundproof music studio, or dozens of other unusual —and therefore hard to estimate — home features? They don’t. Huh?? Self-Cancelling Features If it’s possible,...Read More
Naturally Occurring Shapes ” and Numbers Supposedly, there’s no such thing as a naturally-occurring perfect square or rectangle (vs., say, a sphere). Similarly, I’d venture that there’s no such thing as a house that’s worth exactly $500,000 or $1 million (on the coasts, add a zero). The Lure of Round Numbers So, why does it...Read More
But, What’s “Too Long?” Test your knowledge of today’s housing market, and respond to the following statement: “A for sale home sitting on the market for 60 days is already shopworn”: A. True. B. False. C. Impossible to tell without more info. Correct answer. “C.” The key “other info”: price and location (of course). “Houston,...Read More
Naturally Occurring Shapes — and Numbers Supposedly, there’s no such thing as a naturally-occurring perfect square or rectangle (vs., say, a sphere). Similarly, I’d venture that there’s no such thing as a house that’s worth exactly $500,000 or $1 million. The Lure of Round Numbers So, why does it seem that an inordinate number of...Read More
Realtor Peer Review Fortunately, the only thing that (possibly) gets hurt in the wake of a real estate “S.W.A.T.” team swooping in is the feelings of the listing agent (representing the Seller) getting all the feedback.* The term refers to the practice of several colleagues helping a fellow Realtor size up a problem listing and...Read More
“Price is What You Pay, Value is What You Get” . . . . When it Comes to Realtors, Too “Price is what you pay, value is what you get.” –Warren Buffett, Berkshire Hathaway Chairman (Note: Edina Realty is a Berkshire Hathaway subsidiary). When someone with a couple blocked arteries needs a heart surgeon, their...Read More
