Qualifying Buyers #101 In the course of holding hundreds (thousands?) of Sunday open houses over the years, I can usually tell relatively quickly whether a given prospect is serious or not. See if you can tell which of the comments below indicate serious Buyer interest: A. “I LOVE this house. Why is it so cheap?!?” B. “What...Read More
Getting (and Wanting) What You Pay For You’d certainly think that $300 a month for Association dues is a better deal than $500, assuming two near-identical units. But, the truth is, the higher fee could be a (much) better value. How so? If it covers a long list of services and building amenities that the...Read More
Rules of Thumb Veteran Realtors know that $1 in deferred maintenance subtracts much more than that from a home’s sales price. The ratio can be 3:1, 4:1 or even higher. While the exact amount is house and buyer-specific, at least anecdotally, there seem to be two factors that widen the discount. One. Price Point. First-time Buyers are notoriously...Read More
Quick Answer: “It Depends — But Usually Less Than Buyers Think” “At the closing table, the Seller will walk away with a check ” and whether the money comes from the Buyer or the lender doesn’t matter.” –“Do Home Buyers Who Pay Cash Get a Discount?”; The Wall Street Journal (11/4/2010). The answer to the...Read More
. . . . American Flag (What Did You Think I Meant?!?) [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] If you find yourself in the vicinity of Palm Beach, FL (like I was very briefly last week), and...Read More
“Never Ask a Barber if You Need a Haircut?” Yes, But . . . If you’re going to pronounce last rites on an expensive-to-replace capital item in a home, far better — at least from the Buyer’s perspective — to do it the day before closing, rather than the day after. Make that, during the...Read More
