Real Estate

Plus or Minus

Real estate appraisers use the term “plus or minus” and symbols like +/- a lot. It’s not that we don’t have confidence in what we are doing. It’s because we are reporting on and analyzing a market. A market in which every item is unique. It’s artscience.

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Reframing Neighborhood

The real estate appraisal industry, like most industries, is stuck in old thinking. Perhaps the worst of this thinking is the term and concept of Neighborhood. Most people correctly understand neighborhood as a collection of homes and perhaps businesses near their homes. Google images of neighborhoo...

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Path Dependence

Path Dependence is a fancy way of saying, “We have always done it this way.” It is defined by the Business Dictionary as, “Tendency of a past or traditional practice or preference to continue even if better alternatives are available.” Examples of Path Dependence include the ...

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Puzzles, meh

I really don’t care for board games. I have no idea how to play Backgammon, Cribbage, Yahtzee or dominoes. I don’t know how to play Spades, Rummy or Bridge and I am fuzzy about the rules of Poker. I kinda sorta¬†understand Blackjack, but when it comes time to split hands I get lost. I ha...

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A Little Quiz

Picture this: Two side-by-side five-acre interior (not corner) lots with 500 feet of frontage. The lots are located on a major highway and are improved with two identical steel frame and masonry buildings, 100,000 square feet in size with 32 foot ceilings. One building is zoned for retail use, suita...

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