Which St. Cloud Listing Detail Can Be a Little Squishy?

Dated: April 14 2021

Views: 63

 Today's house hunters have at their command a wealth of information by which to compare the homes currently available on the St. Cloud listings—numbers that enable the kind of apple-to-apple comparisons that bring a smile to the faces of hard-headed realists who value hard data. Right?

Sort of.

If you're one of those realist types who value the precision of hard numbers, last Thursday's Realtor® Magazine provided an article bound to provoke a spate of teeth-grinding. In fact, why don't you just skip reading any further—you'll probably be happier reading the morning's stock market quotes or last night's baseball statistics.

The article in question, "Handle Square Footage Issues," was actually aimed at us real estate professionals. It dealt with imprecision in what people might assume is one St. Cloud listing entry not subject to opinion: the home's square footage. It turns out that it depends on what's being measured. It can be what is defined as "official living space," or it could be "the total space" of the house. As a result, it can happen that a property's listed square footage can lead to questions and possible re-negotiations. Since the listed square footage number doesn't always match up to the appraisal's, it prompts RM's speculation, "what happens then?"

The answer to that varies, but the reasons why otherwise-diligently calculated figures can differ are many, resulting in a number you might call a bit 'squishy.' If, for instance, a previous owner has enclosed a patio or finished a garage without obtaining a proper permit, disparities can result. Too, anyone who has ever measured the square footage of an irregularly shaped area knows how challenging the calculation can be. Additionally, many lenders ask to see only "gross living area" used in the calculation they go with—that usually includes only areas that are heated or cooled, which may not have been the basis used elsewhere.

Since appraisers take their own measurements, discrepancies can crop up. Then, if the square footage number is lower than the one shown on the St. Cloud listing, "sellers could even find themselves back at the negotiating table with buyers."

It's an important part of my service to ensure that my clients, be they buyers or sellers, are properly represented throughout the process—and that occasional hiccups don't unnecessarily derail a transaction that's clearly in the interest of both parties. 

Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

Multiple Office Locations To Serve YOU!

Saint Cloud 320-259-4554

Princeton 320-983-3555

Sartell 320-259-4554

Little Falls 320-259-4554

Minneapolis 612-355-1260

Hutchinson 320-455-9127

Litchfield 320-298-1140

 

Premier Real Estate specializes MANY areas around Central MN including Saint CloudWaite ParkRiceRoyaltonSartellRoyaltonLittle FallsCold SpringSaint JosephElk RiverMonticelloRamseySaint MichaelAndoverHam LakeAnokaChamplinBuffaloGlencoeBrowntonSilver LakeKandiyohiDasselMinneapolisMaple GroveSaint Louis Park, Saint Paul, RobbinsdaleCrystalNew HopeBrooklyn CenterBrainerdNisswaAitkinAlbanyCoon RapidsSauk Rapids and more!

Blog author image

Noel Johnson

Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Years of purchasing, developing, and managing several rental properties, while assisting friends & cli....

Latest Blog Posts

Inflation, Hyperinflation, and Deciding to List St. Cloud Homes

Inflation has been on a lot of peoples’ minds lately, including St. Cloud homeowners who have been considering whether now is the time to list their St. Cloud homes. In what has been

Read More

How Much Time Do You Need To Save

How Much Time Do You Need To Save for a Down Payment?One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you&rsquo

Read More

St. Cloud Homeowners: Time to Think ‘Deck’

Back in March, real estate site apartmenttherapy.com urged homeowners to do some soul-searching before signing up for a new backyard deck. Although their “5 Questions” were said to be

Read More

Buying a Home in St. Cloud: What’s the Starting Point?

“First things first” is another one of those simple sayings that people utter without thinking—it just means, “Do this; everything else can wait.” It can be uttered by

Read More