Home Sellers

Name Game: “Physical” Retail, Traditional Sales, and Hamburgers

What Do You Call the Opposite of Online Sales? Amazon has marched into every arena of commerce, building moat after moat — logistical, financial, customer service — to keep its rivals from catching up. It expanded into selling its own wares, into physical retail, entertainment and into all manner of home monitoring devices. And it...
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What’s In a Name? From “Settlement Statement” to “HUD-1” to “ALTA” Back to “Settlement Statement”

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . . “the settlement statement” (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban...
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Twin Cities New Light Rail Line Arrives (on MLS)

Touting Proximity to Light Rail . . . 3 Years Early! Owners loved living here and the neighborhood with nearby park, walk to Cedar Lake Beach, and 3 block walk to the 2023 West Lake Station of Green Line SWLRT.” –Excerpt, “Public Remarks” field on MLS. The Twin Cities’ new light rail line may be...
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Including Floor Plans — or Not — on MLS Listings

I don’t know about other housing markets, but at least in the Twin Cities, it’s not customary to include floor plans in MLS listings. In fact, I’d estimate that fewer than 1% of all listings have them. The two exceptions I’m aware of: 1) new construction, especially upper bracket and condo’s; and 2) homes with...
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True or False: To be a Teardown, a Property Must Be in Poor Physical Condition

The $1.990 Million Potential Tear-down in Edina’s Parkwood Knolls Neighborhood One of the biggest misconceptions in residential real estate is that, to be a teardown, a home must first be falling down. Hardly. All “tear-down” means is that the home is less valuable than the land underneath it. That can be the case for at...
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