Housing Comp’s vs. Lender Comp’s To Realtors, a Comp (“Comparable Sold Property”) is a nearby, recently sold home similar in size, style, and condition to the “subject home” (the home being valued). What’s a “Comp” to a lender? The borrower’s annual income for any given year. Excluding a Harmful Comp Just like the key to...Read More
Coaches & Parking Lots @ the Stroke of 12:00 (Midnight and Noon) Cinderella’s coach turned back into a pumpkin at midnight. So, too, at 12:00 (noon) today, the Edina Realty – City Lakes parking lot will turn back into . . . a parking lot. But, for the next few hours, it’s host to several...Read More
Beauty in the Eye of the Beholder Buyer When should a listing agent (representing the Seller) explicitly market that a home “needs cosmetic updates” (or the equivalent)? Less often than you might guess. Here are my three reasons why: One. The pictures tell the story. Most MLS’s allow 18 photos; websites like EdinaRealty.com effectively allow...Read More
People who’ve known me for a while are aware that my background includes stints as a CPA and corporate lawyer prior to going into real estate 13(!) years ago. That financial and legal background comes in handy daily handling real estate transactions. It also provides a useful vocabulary for religious holidays, such as the Jewish...Read More
Doing Realtor Damage Control Thanks to a Star Tribune story Tuesday chronicling a supposedly overheated Twin Cities housing market, crestfallen Buyers who repeatedly(!) came up short in multiple offers this Summer, etc., etc., several thousand local agents had to take a chunk out of their busy schedules this week to do damage control with their anxious...Read More
15306 Mason’s Pointe in Eden Prairie: Broker Open From 11 a.m. to 1 p.m. Tuesday What: Almost 7,000 square ft. Robert Mason-built home with 162′ of shoreline on Red Rock Lake. Beautifully landscaped grounds on 1.37 acre. Where: 15306 Mason’s Pointe. Directions: from Highway 212, go south on Mitchell Rd. to Boulder Pointe Rd, then...Read More
