Want the science art of doing Comp’s (“Comparable Sold Properties”) in a nutshell? It’s placing a given (“subject”) property on a continuum, between the home just below it in price, and the one immediately above. What could be simpler, right? “This and That” Ahhh, but which two homes are those ” and exactly how much...Read More
When Appraisals Don’t Matter (and When They Do) [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.] “Federal regulators have proposed loosening real-estate appraisal rules so a majority of homes can...Read More
Means to an End (“Eyes on the Prize”) [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. If you need legal advice, please consult an attorney.] What do you suppose is the best way for a home Buyer...Read More
Calculating Premiums & Discounts in a Comparative Market Analysis (“CMA”) How much value do Realtors and Appraisers assign to an upstairs Laundry when estimating a home’s fair market value? The honest answer is, I’ve never seen it broken out as a specific adjustment, with a corresponding price tag (or even range) assigned to it. My...Read More
Stepped-Up Security Side Effects Sometimes, you just want to know if the lender has scheduled the appraisal. Unfortunately, in today’s environment of heightened online security, that can mean formally registering at the lender’s “portal”; waiting for a temporary password via text; then navigating an unfamiliar format to find the document(s) you’re looking for. Or, if...Read More
The Art of Doing Comp’s Want the science art of Comp’s (for “Comparable Sold Properties”) in a nutshell? It’s placing a given (“subject”) property on a continuum, between the home just below it in price, and the one immediately above. What could be simpler, right? “This and That” Ahhh, but which two homes are those...Read More
