When Bigger Isn’t Better Just like the discount for a one-car garage varies, so, too, does the discount for a home with no basement (at least in the Twin Cities housing market, where single family homes routinely come with — and Buyers expect — finished basements). The biggest variable driving the discount for no basement?...Read More
Difference Without a Distinction? The most recent MLS tweak is a change to how market time is reported. Previously, the acronym was “CDOM,” for Cumulative Days on Market; it reflected how long a given property was on the market since listing. Shouldn’t That Be “DOMP??” MLS still shows “CDOM,” but now it also displays something...Read More
The Value of Contrary Information About all I remember from my one college statistics course is something called “the coefficient of correlation.” Ranging from “+1” to “-1,” it indicates how predictive/associated one variable is with another. Which leads to some counterintuitive insights. Such as (as the Statistics professor noted), if you’re picking investment advisors, the ideal is someone whose stock picks are always right...Read More
Not All Listings Are Created Equal Notwithstanding fairly steady Fall listing and selling activity, there is a perception afoot amongst many Twin Cities Realtors now that the market is deceptively slow. How can that be? Here’s one theory: while showings statistics overall are flat to slightly down, they’re unusually concentrated amongst a relatively small percentage of...Read More
Fewer Showings — But a Silver Lining, Too So far this Fall, the word amongst active listing agents (representing Sellers) is that showings are way down (that’s been my experience, too). If you want a benign explanation, blame it on the gorgeous Fall the Twin Cities has been enjoying thus far, keeping Buyers’ focus elsewhere...Read More
“Upstairs Den?” “Family Room #2?” “Upper Level Lounge?” First, laundries migrated from dark, dingy basements to the upper level. Now, the home’s living spaces are following them upstairs. Versatile, Multi-Function Space (and Light!) Specifically, many new construction homes in the Twin Cities now feature an upstairs sitting area — typically near the top of the...Read More
