October 2011

“The Natural Light Test”

by Ross Kaplan on October 31, 2011

Want to know how much natural light a room — or an entire home — gets?

Turn off all the lights.

As my impressed open house visitors saw for themselves yesterday at 2275 Youngman, there’s practically no difference in how light the Kitchen (above) is with the lights on or off.

The explanation?

There’s a huge skylight directly above the center island (the unit is a top-floor penthouse).

P.S.:  the silestone countertops do show off better when the under-cabinet lights are on.

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“Outlook 2003″

by Ross Kaplan on October 31, 2011

You Know What They Say About Hindsight

With 2011 winding down, my in-boxes — paper and email – are collecting the usual plugs for continuing ed classes promising insights about what to expect in 2012.

So, I had to pause when I saw an upcoming class with the title, “Outlook 2003.”

My first thought was that it was a typo.

Then, I realized that it was referring to the Microsoft software program that many people (including me) use for their calendar and contact manager.

P.S.:  If someone really could tell you what was going to happen in 2003 ahead of time, I assure you, insights into the housing market would be far down the list.

At the top? 

The best performing stocks of 2003, starting with the takeovers.

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“That Time of Year”

by Ross Kaplan on October 31, 2011

It’s that time of year in Minnesota again.

Halloween?

Hard to forget that that’s tonight, if you have kids in your household.

Shorter days and colder weather?

That, too.

But I was thinking of deer hunting season.

I know when it starts not because I hunt — or even know which end of a gun to pick up – but because every year at least a few otherwise very punctual, very reliable contractors I work with inexplicably go AWOL for a few days.

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“How Strong is the Condo Association?” — Cont.

by Ross Kaplan on October 30, 2011

Reassuring Condo Buyers

Normally, someone who purchases a condo or townhome has to wait until they’ve signed a Purchase Agreement to find out how financially strong (or not) the building or development is.  See, “Ten Day Review Period . . . 2 Weeks Too Late.”

Then, they have ten days to review the related materials (Association Articles, Bylaws, Amendments, Board minutes, etc.)

In today’s climate of lender-mediated sales (foreclosures, short sales), financial stress, etc., that’s too late in the process for many Buyers, who want to know up front if they’re potentially “buying trouble.”

Which is why I’m telling prospective Buyers and their agents right on MLS about the Condo Association at my (gorgeous) new listing at 2275 Youngman, in St. Paul’s Highland Park neighborhood (photos above and below).

Agent Remarks: Amenity-loaded building (Exercise Room, Library, etc.) with a conservative, financially strong Owners Association.  Also: 3(!) parking spaces and 2 adjoining storage lockers, just steps to the elevator.

Public Remarks: Treat yourself to The Regency’s premiere Penthouse! Over 2,700 dramatic square feet with over-the-top finishes including 3 skylights, Living Room FP, and deluxe Owners Suite with Walk-in closet.  Panoramic views of the Mississippi Valley and bluffs.

–MLS listing for 2275 Youngman #509W (emphasis added)

Elsewhere in the marketing literature, I also inform Buyers that 2275 Youngman is “a financially strong Condo building* with many renovated units.”

Translation:  1) you’re not going to be blindsided by special assessments; and 2) all the improvements that other owners are making will benefit your condo, too (“a high tide raises all ships”).

Want to take a look?

I’m there from 1 – 3 p.m. today, hosting the first Sunday open house.

Hope to see you!

*Based on the financial review and reserve recommendations of the Association’s third-party consultant.  

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“Welcome Aboard, Tom!”

October 30, 2011

No Longer AWOL on Financial Reform Notwithstanding a very long public record of Wall Street self-dealing, treachery, and greed on a scale never before witnessed in American (world?) history, New York Times columnist (and St. Louis Park native) Tom Friedman has been silent on the need for systemic financial and political reform. Until today.   Our Congress [...]

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Real Estate Term Du Jour: “Luxury Rental”

October 29, 2011

Define, “Luxury“ Is everything now a “luxury rental?” Put it this way:  driving around the Twin Cities, I haven’t seen many billboards trumpeting “spartan rentals” lately. So, are they?  (Luxury, that is?) It’s sort of like Supreme Court Justice Potter Stewart’s line about pornography (“I can’t define it . .  but I know it when I [...]

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Real Estate’s Hottest Color (Hint: it’s also a metal)

October 29, 2011

Do two buildings make a trend? Maybe, if they’re high enough profile. That would seem to describe both Edina Realty’s new City Lakes office, about a mile west of Minneapolis’ Uptown neighborhood, and 1800 Lake, a new luxury rental building in Uptown just northeast of Lake Calhoun. Copper cladding not only gives these buildings a [...]

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Review: Michael Lewis’ ‘Boomerang’

October 29, 2011

Better Title:  ‘Michael Lewis, Recycled’ It’s hard to find fault with Michael Lewis, one of the best business writers extant (or ever, for that matter). And the prose and insights in his latest effort, Boomerang, certainly don’t disappoint. So, what’s the problem? All but one of the five essays that comprise the book (the one on Iceland, titled “Wall [...]

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