The “House-by-House, Block-by-Block” Housing Market
Close-in, high demand area?
Check.
The home pictured above is in Minneapolis’ Bryn Mawr neighborhood, just west of downtown and northwest of the Lakes and Uptown.
Affordable for first-time Buyers?
Check.
The $259,9k asking price is right in the middle of one of the housing market’s hottest price points.
Nice curb appeal?
Check.
So, what’s up with this currently “For Sale” 1 1/2 story Craftsman?
Sitting in a Seller’s Market
Not sure — I haven’t seen it.
All I know is that it’s been on the market since April (note the snow in the foreground).
April, 2010, that is (it originally listed for $317k).
Which serves to underscore the bigger point: it may be a Seller’s market, but the housing market is still very much a house-to-house, block-by-block affair.
Cautionary point #2: too-long market time is a big obstacle for Sellers — and initially overpricing can come back to bite owners (unseasonal photos certainly don’t help).
