Actually, the following joke is obsolete: I can tell you exactly where interest rates are going, because Ben Bernanke told me (and everyone else): zero, for a long time. So, just substitute “stocks” for “interest rates.” Enjoy . . . Einstein dies and goes to heaven only to be informed that his room is not yet...Read More
Paid-Off House as Piggy Bank To the already long list of unintended consequences of zero percent interest rates (“ZIRP”) — squeezed savers, flush investment banks (and bankers), volatile commodity prices, etc., etc. — add one more: lack of (home) Seller motivation, especially amongst long-time owners with little or no debt. Why the lack of motivation? Because they...Read More
“Dear Seller: About That Restrictive Showing Time Window . . “ Sellers won’t like to hear this, but there’s a double standard when it comes to accommodating showing requests. Namely, if a legitimate Buyer can only see your home after 7 p.m. in the evening — you try to accommodate them. However, as a Seller,...Read More
Fashionably Brown (Still) Normally this time of year in Minnesota, it’s pretty easy to spot derelict listings on MLS: just look for the ones with brown — or green! — lawns (not to mention leaf-filled trees, colorful flower beds, etc.). This year? It’s the MLS shots with snow in them that stand out. Like most...Read More
New News? Or Recycled Rumors? Foreclosures across the country and the Twin Cities are likely to increase in the coming months, dashing hopes that the new year will deliver a rebound in housing prices, despite record-low mortgage rates and dwindling inventory. –Jim Buchta, “Home Values Could Take New Hit From Foreclosures“; Star Tribune (Jan. 2,...Read More
Commission Saved: $8,000 Hit to Sales Price: $20,000 In FSBO Mistake #4, I chronicled the case of the hapless For Sale By Owner (“FSBO”) in Golden Valley who wasted their first — and best — month of market exposure incorrectly classified as a “Foreclosure” on MLS. Hit to their bottom line? I’d estimate 3% to 5%....Read More
