One of the ways you can tell that a product is dated or out-of-fashion ” or people think it is ” is that it acquires an adjective. So, for a while, “Coke” became “New Coke.” In the wake of Watergate in the 1970’s, Minnesota’s Republican party became the “Independent — Republican” party (at least until Ronald...Read More
Dow Jones Drops 414 Points to Close at 22,445 Say what you will about the housing market’s up’s and down’s. But, I don’t know anyone who bought a home in early October for $270,000, that’s suddenly worth only $225,000 scarcely 10 weeks later. Yet, that’s almost exactly what’s just happened in the stock market. Just subtract...Read More
“Buy a House in Minnesota in December?” “Are You %#&!$ Crazy?!?” Actually, no. In fact, I can think of three reasons why that’s actually a very good idea. Discount Shockers One. Best deals of the year. Every year I’ve been selling real estate ” and it’s now 17 ” the best deals of the year...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
Chances of Selling: “Possibly” vs. “0%, 100% Guaranteed” “In the land of the blind, the one-eyed man is King.” —proverb The real estate corollary to the proverb above? “During a time of year when inventory of good homes is depleted, and lots of “For Sale” homes are temporarily off the market (“TNAS,” or Temporarily Not...Read More
Or Maybe They Should be Called “Dismaying Jeans” Yeah, yeah, I know what fancy-schmancy retailers mean when they refer to “distressed jeans”: jeans whose various holes and patches somehow make them look chic ” and worth a huge mark-up (also referred to as “vintage clothing” in some quarters). My definition of “distressed jeans” is a...Read More
