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
Mistitled — & Misleading [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] “Tell me where I’m going go die, so I won’t go there.” –Berkshire Hathaway’s Charlie Munger. Sorry, notwithstanding...Read More
Conspicuously Missing Term: Asking Price One of the more confusing contracts in residential real estate is what’s called a “One Time Showing Contract.” As you might guess, unlike a Listing Contract, which allows the Realtor to market a home to the world, a One Time Showing Contract contemplates a deal with exactly one prospective Buyer. Key Terms In...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...Read More
Conspicuously Missing Term: Asking Price One of the more confusing contracts in residential real estate is what’s called a “One Time Showing Contract.” As you might guess, unlike a Listing Contract, which allows the Realtor to market a home to the world, a One Time Showing Contract contemplates a deal with exactly one prospective Buyer. Key Terms In...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
