Managing Client Expectations Real Estate Rule #1: It’s not a done deal till the Seller leaves the closing with a check. Real Estate Rule #2: It’s not an offer till the listing agent has it in hand. One of the most exciting pieces of news a listing agent can deliver to a Seller is that...Read More
In: Microsoft. Out: Google. 2011 has been a big year for changes on MLS. The latest? Swapping out Google’s mapping software for Microsoft’s (“Bing”). Personally, I preferred the former. However, one of the additional features of Bing is that neighborhood names are superimposed on home searches. In the map above, ECCO stands for “East Calhoun Community...Read More
After . . . and Before Where: 2705 France Ave. South What: 3 BR/2 Bath Cape Cod in Minneapolis’ Sunset Gables neighborhood When: listed Nov. 15; off market Jan. 24; closed Feb. 25 How much: List price — $439.9k; sold price — $400k Who: listing agent — Ross Kaplan, Edina Realty; selling agent — Kathy...Read More
Good Bones, But Needs Rehab Age: 20-plus years Square feet: 830,000 Location : Downtown Minneapolis How much: estimated rehab budget of $120 million. Unless your fixer upper happens to host NBA games, don’t expect Mayor R.T. Rybak to propose a “public-private partnership” to help defray your costs. Yet, that’s exactly what’s being contemplated to help...Read More
Surefire Signs How does a Realtor tell if a home they’re listing is primed to sell? (see also, “Listings and Pots of Water“; “Buyer Feedback: ‘Win, Place, or Show'”). The starting point is their own knowledge of the home relative to nearby, competing homes — as well as the Comp’s (“Comparable Sold Properties”). To sell...Read More
Why It’s Smart to Be Nice to Appraisers As I’ve written previously (“Appraisers vs. Realtors vs. Trulia“), Realtors active in an area will often field calls from appraisers trying to establish the value of similar, nearby homes. Whether the bank they’re working for is considering a new mortgage or refinancing an existing one, the questions...Read More
