Open House This Sunday (12/17) Near Cedar Lake in Minneapolis

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“Meticulously Maintained,” Deciphered

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Not new — but “meticulously maintained.” Real Estate Synonyms — and Antonyms True or false: “Meticulously maintained” means the same thing as “updated.” Give up? The correct answer is “False.” In fact, “meticulously maintained” is almost always Realtor code for not updated. Ditto for synonyms such as “well-loved,” “quaint,” “vintage,” “long-time owner,” etc. (all very nice things, by the way — just not the same as “updated”). See also , “ Real Estate Marketing 101: When to Acknowledge a Home Needs Updating — & When Not To “; “ Real Estate Euphemisms “; and “ Real Estate Clichés and How to Avoid Them .” from RSSMix.com Mix ID 8230700 https://ift.tt/2I20bKN via IFTTT
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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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