Housing Multiple Choice What do local real estate insiders think is the biggest threat to housing prices prospectively? A. The winding down of Fannie Mae and Freddie Mac. B. A spike in mortgage rates. C. Phasing out the mortgage interest deduction. D. Imposing a tax on real estate commissions. *Answer: C The above observation is...Read More
My heart literally skipped a beat this morning when a computer folder for an especially involved, ongoing transaction suddenly went “poof!” Like most Realtors, I am increasingly reliant on online archives to capture all the twists and turns that go into a consummated deal (and documenting same). Which works fine — at least until three months worth...Read More
City Lakes + Parkwest = City West? Yesterday was a red letter day unlike any other in my nine-plus years at Edina Realty. Any one of the following announcements at yesterday’s City Lakes office meeting — delivered personally by Edina Realty President and CEO Bob Peltier — would have qualified as blockbuster news; cumulatively, the...Read More
“Counter”-Productive Improvements What do you call an old Kitchen with new granite counter-tops? A. An updated Kitchen; B. An old Kitchen with new granite counter-tops Answer: B Admittedly, that’s not the answer that many home sellers (and their listing agents) would give. However, that’s how the vast majority of Buyers are likely to view it. In...Read More
Key: Establishing Priorities It’s hard enough for a single Buyer to find a home that meets their needs, budget, taste, etc. How much harder does it become when a home has to satisfy two individuals’ (long) list of criteria? It depends on how much their lists overlap. Overlapping Circles At one extreme, there are couples...Read More
Market Misconceptions Water, water, everywhere, Nor any drop to drink. –Samuel Taylor Coleridge, “Rime of the Ancient Mariner” All politics is local. –former U.S. Speaker of the House Tip O’Neill All real estate is local. –Corollary, Ross Kaplan One of the biggest misconceptions about today’s housing market is that there is a surfeit of homes available...Read More
