Supportive — and Unsupportive — Comp’s In appraiser (and Realtor) lingo, a “supportive” Comp (“Comparable Sold Property”) is one that substantiates the value of the subject property, i.e., the one that the Buyer is seeking to obtain a mortgage on. Ergo, an “unsupportive” Comp is one that . . . torpedoes the value of the...Read More
Or Maybe That’s “Patience” My wife, who’s a physical therapist, has patients. On the other hand, I, as a Realtor, have clients. At least it seems that way most days. Of course, as my colleagues who specialize in short sales know . . . “patients” isn’t very far off.Read More
(Also Known as “Serendipitous Showings”) Teresa Boardman (St. Paul Real Estate Blog) has a nice post giving the agent’s side of why, just maybe, you may not be able to show a prospective Buyer you’ve never met a home on the other side of town at 4 p.m. when they call at 3:10 p.m. The...Read More
Are “Traditional Sellers” Waiting For Fewer Foreclosures? Want a shorthand for knowing when the housing market has truly turned around? Watch what’s called “the median sale price” — statisticians’ term for the midpoint of a given group. So, the median price of 101 sold homes would be that price which is lower than 50 of...Read More
Passing on Unsaleable Listings Want a good Realtor to list (and ideally, sell) your home? In a Twin Cities market full of fussy Buyers and lots of inventory (with notable exceptions), you’d better meet the following three criteria. One. Be motivated. No, “motivated” doesn’t mean “desperate.” To a Realtor, a “motivated seller” is someone who’s willing...Read More
Mom, Apple Pie — and No Banks Probably the most popular term on MLS at the moment — right after “mint,” “move-in condition,” and “experienced short sale agent” — is “traditional seller.” No, that doesn’t mean the owners believe in “Mom and apple pie,” dress conservatively (no face jewelry or tattoos), or otherwise have an...Read More
