My Kingdom for a . . . Winter Coat As a native Minnesotan, I honestly don’t know whether to attribute the phenomenon to retail “fashion-forwardness” (is that a word?), “mind over matter” denial, Scandinavian stoicism, or some other character/behavioral quirk. What am I referring to? My inability to find a winter-weight men’s overcoat anywhere in...Read More
Colbert Interview with Eliot Spitzer I’m not a Stephen Colbert regular, but I did catch his interview the other night with “disgraced former New York Governor Eliot Spitzer” (that’s now Spitzer’s official moniker, by the way). Colbert’s cut-to the chase question: even if Wall Street is full of inept crooks and greedheads, as most everyone...Read More
Mispriced Properties: Exhibit A Where: 46xx 1st Ave. South in Minneapolis What: Bank-owned (foreclosure) 3 BR/2 BA 1917 stucco home with 2,000 square feet. How (much): asking price — $72,900; sold price — $130,000 When: listed — 4/19/2009; closed –8/18/2009 In my post yesterday (Seller’s Motivation: Is it Relevant?”), I made the case that the...Read More
“Discounted Present . . . . What??” I’m hearing from numerous lenders — and observing with my own Buyers — that more people are opting for loans with higher interest rates, in exchange for paying no closing costs. So, instead of, say, getting a 30-year mortgage at 5% for $200,000, and paying $6,000 in closing...Read More
