Wednesday Link-o-Rama

  • This is hilarious. Curious about how buyers, mortgage lenders, tax assessors and others see your home? Guess there’s also a mini-lesson here. Those different perceptions? That’s precisely why I ask my sellers to be absent from all showings of their property. When the seller is present, rarely do you get honest feedback. When the seller is absent, you often get brutally honest feedback, bordering sometimes on nasty, that elucidates precisely the differences in perception illustrated by these photographs. Love the appraiser and tax assessor’s perspective too but in NYC, I often think the appraiser is more in line with the tax assessor… at least in this example. (Via Growabrain)
  • Property Grunt wonders how much values can be dragged down when a fancy new building across the street ruins the view. In my experience, it can have a significant damaging effect… during construction. But once a high-end building full of $2,000-a-square-foot condos opens across the street, it can even buoy values in the surrounding blocks too. My advice to owners: don’t panic and sell during construction. I have seen this many times through the years. Prospective purchasers rarely have the vision to see past a vacant lot or construction that is underway–but almost always the finished product is less obtrusive than what we imagine and has less of an effect on prices than we had imagined. Often times, the new construction has a ripple effect and aids in increasing values of properties in the immediate vicinity.
  • Everyone thinks real estate professionals are in the easy money, but check out these numbers. In 2004, the median income for people with two years’ experience or less was $13,000. (Via Growabrain)
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