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
Housing Market Math, Circa 2010 When does 2 – 1 = 0? When a two-income family that’s “upside down” on their mortgage loses one of those jobs (“upside down” is Realtor-speak for owing more on your home than it’s worth). The first wave of foreclosures largely consisted of marginal borrowers — putting very little (or...Read More
