Watching Too Much “Breaking Bad?” It could just be that I’ve been watching too much “Breaking Bad,” a superb series on AMC whose main character makes methamphetamine, and whose brother-in-law just happens to be an Albuquerque DEA agent. But, my listings’ online traffic — and my own anecdotal observations — tell me that it’s not just my imagination....Read More
Comparing Apples and Oranges: Case Study #17 I’ve posted previously about how a slow market — combined with a relatively unique property — can bedevil Realtors and appraisers alike trying to estimate a home’s value. That’s because to be valid, a comparative market analysis must include three sales of similar properties no further back than...Read More
Minneapolis’ Most Discounted Condo? I’ve blogged previously about deeply discounted single family homes in the Twin Cities. A second-floor condo (#201) in The Edgewater (pictured above) may very well be the Twin Cities’ most discounted condo. Now at $749,823, the unit was originally listed for $1.981 million almost exactly three years ago. That’s a whopping...Read More
The Limits of Statisticsin Valuing HomesIt’s only Wednesday, and I’ve already fielded three calls this week from appraisers wanting “scoop” on recent, closed sales that I’ve handled. A year-end pick-up in deals? Well, that, too. However, in each case the appraiser was working on a refinancing application. To approve the new loan, the lender needed...Read More
Stampeding — the Other Way If you don’t like shopping, and you don’t like crowds — at least, away from sporting events — the charms of Black Friday can be lost on you (me). On the other hand, today was a great day to buy office supplies at Office Max (I had the store to...Read More
Confusing Housing Statistics “U.S. Home Sales Fell 26% in October.” —The New York Times (11/23/2010) “Home Sales Fell 2.2% in October.” —The Wall Street Journal (11/23/2010) So which is it? Both, actually. Home sales fell 26% in October, 2010 compared with October, 2009. And they dropped 2.2% compared with the preceding month (September, 2010). However,...Read More
