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Estimating the Discount for a Busy Street (or Not)

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The Art of Comp Selection One of the trickier home features to account for in a Comparative Market Analysis (“CMA”) is a busy street. For a family with little kids, a busy street may very well be a deal breaker — in which case the discount is theoretically infinite. At the other extreme, an investor looking for a rental property may see the location as a plus: free advertising! Of course, not all busy streets are created equal: depending on how far the home is set back; elevation differences; the individual home’s layout; and even landscaping and other topography, and the noise level/loss of privacy can vary significantly. Two Strategies Faced with so many variables, Realtors and Appraisers can always simply choose an average discount — say , 10% off. Strategy #2? Choose as Comp’s (Comparable Sold Properties) only homes that are also located on busy streets. Even better: the same busy street. Then, there’s no need to make any adjustment, because all the home...
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“What’s the Highest Point in Hennepin County?”

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There sure seems to be some confusion on that, umm . . . point. I’ve now encountered at least three different properties — none close to one another — that all claimed that status in just the last month. For the record, according to Hennepin County’s website, it’s on Williston Road near High Point Road in Minnetonka — 1,131 feet above sea level. See also , “ Florida’s Tallest Point (and how to get there) .” from RSSMix.com Mix ID 8230700 https://ift.tt/2Pq1ndL via IFTTT
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Avoiding Real Estate Clichés Like the Plague (see what I mean??)

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“Not a Drive-By!” “Must See!” Yada, Yada, Yada One of my favorite Mad magazine cartoons ( circa 1970) shows a vendor in front of a food stand with the following sign: “turkey burgers,” “chicken burgers,” “buffalo burgers,” “tuna burgers,” “veggie burgers,” etc. etc. The caption: “we have some with ham, too, but we don’t know what to call them.’ So, too, in real estate, avoiding clichés — overused, and therefore meaningless phrases — is an occupational necessity. Step #1 Of course, to avoid using clichés, you first have to know what they are. If you’ve been in real estate longer than six months, that’s like shooting fish in a barrel (sorry ). Some of the choicest clichés: –“Not a drive-by! –“Must see!” –“Amazing opportunity!” –“Great bones!” (For more in this vein, see “Real Estate Euphemisms ” New & Improved “). Step #2 The problem with all of the above — besides suffering from overuse — is that they’re generic; far better to shine a spotli...
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