The $1.990 Million Potential Tear-down in Edina’s Parkwood Knolls Neighborhood One of the biggest misconceptions in residential real estate is that, to be a teardown, a home must first be falling down. Hardly. All “tear-down” means is that the home is less valuable than the land underneath it. That can be the case for at...Read More
What Does the Home Seller Have to Disclose? [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] It comes up rarely enough that even a former attorney (I am) needs...Read More
Housing Market Misnomers One of the biggest misconceptions in residential real estate is that, to be a teardown, a home must first be falling down. Hardly. All “teardown” means is that the home is less valuable than the land underneath it. That can be the case for at least two reasons other than physical condition:...Read More
Conspicuously Missing Term: Asking Price [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] One of the more confusing contracts in residential real estate is what’s called a “One-Time Showing...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
The Opposite of “The Birthday Paradox” According to The Birthday Paradox, in a room of just 23 people, there’s a 50-50 chance of at least two people having the same birthday. In the world of residential real estate sales — at least in a bigger city — there seems to be something of an anti-Birthday...Read More
