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Housing Market Trends

High Mpls. Property Taxes Set in Motion Negative Feedback Loop

Virtuous — and Vicious — Cycles What happens when a for-sale home saddled with sky-high property taxes doesn’t sell?  Frequently, the owner opts to rent it out instead. Fast forward 2-3 years, when the surrounding block and similar ones are not-so-suddenly studded with rentals. Prospective home Buyers who want to be surrounded by other homeowners balk —...
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Can a For-Sale Home Be in TOO Good Condition??

The Upside of a Home with Downside When are prospective Buyers disappointed when they view a home that’s in TOO good condition? Is there even such a thing? Yeah, there is — at least for a specific kind of Buyer. Namely, one who’s looking at a home at (or just over) the top of their price...
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How Realtors Are Like Chameleons

Reflected Glory, or Guilt By Association? No, Realtors don’t change colors depending on their environment. And contrary to what some people may think, Realtors are not lizards (the vast majority, anyway). What I’m referring to is the propensity of prospective Buyers (still with me?) to associate the agent hosting an open house with the attributes of the...
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“Umm, Let Me Re-Phrase That”

But I Always Know Where I’m Going I never send an email without spell-checking. But there really should be another kind of email check, for tone and construction. I realized that after sending an email earlier this week to a client suggesting that we meet at the house I was showing him rather than at my...
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Buyers and Sellers Who Feel Guilty

The Virtue of a Well-Stocked Pipeline If you’ve never made a living 100% on commissions — and not selling apparel or widgets, but big-ticket, capital items like homes — it can be terrifying. Not only are the paydays few and far between, but, especially in today’s housing market, there seem to be more steps along the...
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Finding the Right House-Hunting “Cruising Altitude”

Flying (& Mountain Climbing) Metaphors Pilots in turbulent weather will frequently announce to their passengers that they’re “climbing to 40,000 feet” or “descending to 30,000 feet” in search of a smoother ride. As a Buyer’s agent, I will point out to clients if moving up (or down) a rung in price makes sense (cents?).  That...
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