Vicious Cycle

You’re not seeing a lot of sales activity [in part ] because people are still trying to define price. You need a certain amount of volume to be able to tell people where pricing is.

–Mary Ann Tighe, CB Richard Ellis; The New York Times (7/31/09)

Upper bracket homes in the Twin Cities?

No, actually commercial real estate in Manhattan.

But the observation, from a top commercial broker there, describes some of the unique challenges now facing would-be upper bracket home Sellers (and Buyers) in the Twin Cities.

With few good comp’s, the latitude for pricing widens. In turn, the wider the price range — the more ground Buyers and Sellers have to bridge to do a deal.

The result is fewer and slower sales . . . which serves to further undercut “price certainty.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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