Safety in Numbers vs. Tyranny of the Majority Who wouldn’t prefer a smaller condo or co-op building, where the scale is manageable, and it’s possible to actually know one’s neighbors? As desirable as that may be, would-be Buyers (and their agents) should be aware of three issues that can be more challenging for a small...Read More
The King Staged Closet Has No Clothes Conventional staging wisdom when it comes to closets (yes, there is such a thing, at least for a walk-in master closet in a more expensive home) is that two-thirds full is optimal. Less than that, and the closet looks too empty; more than that, and it looks too...Read More
Best Advice to Home Sellers: “Tell What You Know” (Whatever That Is) Homeowners can be forgiven for not knowing the difference between a special assessment that’s “pending,” vs. one’s that “levied” ” as opposed to one that is assessed and currently payable. Realtors have trouble keeping those terms straight as well. The best advice to...Read More
Consumer Psychology and the Too-Precise Price When you see an oddly-priced “For Sale” home, there are two possible explanations (at least in my experience selling residential real estate): One. Drawing Attention. The way to stand out from homes listed at $389,900, $399,900, etc. is to price at $398,731 or some such (I haven’t seen a home...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
Exactly What Part is “Partial?” I certainly know what a “partial basement” is. At least in the Twin Cities, that often goes with a pre-1900 structure, and is commonly made of limestone. On the other hand, I have no idea what a “partial bathroom” is (and certainly wouldn’t want to use one!). That was the term...Read More
