“Here You Go, Arthur!” I’ve certainly heard wackier proposals. So, per Arthur Lee, the Selling agent on my listing at 1901 Fifth Ave. South in Minneapolis (closed this am!) comes this idea: once the Buyer removes their Inspection Contingency and the listing’s status is switched to “Pending” on MLS, the selling agent (representing the Buyer) should...Read More
Taking $50k, $75k — or More(!) Off the Last Asking Price Overpriced listings have a way of coming down to earth, and Buyers who can afford to be patient can often pick up the property at a (much) better price once the Seller has become more realistic. Of course, Buyers who wait risk that the Seller...Read More
Minneapolis Property Tax Disconnect Pop quiz: the annual property taxes on this Kenwood short sale — listed at $349,900 — are . . . A. $3,142 B. $4,475 C. $6,020 D. $13,983 Answer: “D.” Assuming that the eventual Buyer has good credit, is putting down 20%, AND the short sale is approved at the list...Read More
“Taking Back Our Content” From Third-Party Aggregators Want to book a flight on Southwest Airlines? You won’t find Southwest’s flights for sale on Travelocity, Expedia, Orbitz, Kayak or any number of so-called third-party aggregators “serving” the travel industry. That’s because Southwest Airlines understands — correctly — that these companies are ultimately competitors, and threaten its business model....Read More
Why do Realtors go to estate sales? To get deals, of course (a big “Thanks!” to the stranger who helped me pick two James Michener novels earlier this morning, for $2 apiece). But also to stay on top of the local real estate market. So, look for a new, $1 million-plus home at 3433 St. Paul...Read More
Test your knowledge of today’s real estate market, and answer the following question: Does dangling a fatter commission to the Buyer’s agent — what Realtors call the “listing payout” — result in a faster sale, for more money? A. No. B. Yes. C. Sometimes D. It depends on how much. Answer: “D.” (credit also given for...Read More
