Misleading “Median” If you averaged temperatures in the Sahara and Antarctic, you’d get a mild 60 degrees or so — and a meaningless statistic. In a nutshell, that’s my reaction to the most recent Twin Cities housing statistics, showing that the median Twin Cities home sales price in January was $140,000. But that number means virtually nothing, because...Read More
Pop Quiz “Nov. 21, 2010.” “July 9, 2010.” “Oct. 10, 2010.” What exactly are those dates? A. When Realtors submitted offers on short sales in the Twin Cities, and are still waiting for formal responses from the bank(s). B. The expiration date(s) of various food items left in the Edina Realty – City Lakes fridge. Answer: ...Read More
Never Saying, “I Told You So” How do Realtors establish credibility with clients? I wish it was only a matter of coming across as authoritative about the housing market, being on top of new listings and “Sold’s,” having great references, etc. In today’s housing market, however — especially with clients who don’t already know you...Read More
