Labor + Capital + Raw Materials = Finished Goods I spent four years learning economics at Stanford. I’ve spent (going on) the last forty years unlearning it. It’s not that Stanford failed me. It turns out that the entire field of modern economics was built upon not one but two outmoded ideas, if not conceptual...Read More
The REAL Purpose of Appraisals What is the purpose of an appraisal, in the context of a residential real estate sale? To make sure that, if the Buyer defaults on their loan and the lender ultimately forecloses, the value of the collateral is sufficient to make the lender whole. Or, in plain English: if the...Read More
Rounding Errors Is a rich Seller a less motivated Seller? After all, to a billionaire, what difference does it make if their oceanside estate fetches $21 million or $17 million or $23 million? Can you say, “rounding error?” Certainly, that describes the mindset of some affluent homeowners (ditto for very large estates). However, all that...Read More
Novice Realtors Rush In Where Pro’s Fear to Tread “Never negotiate furniture.” “Never negotiate furniture.” “Never negotiate furniture.” “Never negotiate furniture.” Realtors who don’t know the above rule ” or forget it ” soon get the opportunity to (re)learn it. That’s because negotiating the sale of personal property, particularly furniture, can be more challenging than dealing...Read More
Unseasonal Winter Photos in April? Not This Year April Fool’s may have been Sunday, but the real April Fool’s joke arrived in the Twin Cities yesterday: 8″ inches of fresh snow continuing through today, and temps more typical of February than April (overnight low: nine(!) degrees). All of which creates a surreal feeling for area...Read More
The Case For ” and Against In a microcosm, the considerations for doing an open house on Easter Sunday are the same as for deciding whether to list a home during a traditionally slow time of the year (like around the holidays). Here’s how the arguments shape up: Pros: —Not much competition from other open...Read More
