Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota ” 99.45%**, to be exact ” the title companies doing the closing have to calculate a pro rata property tax adjustment between the Buyer and Seller That’s because in Minnesota, homeowners pay property taxes twice a year (May 15...Read More
Booster Shot for Housing Market “10-Year Treasury Yield Falls Below 2%, Defying Expectations.” —Wall Street Journal headline (6/20/19). Thanks to diving interest rates, the housing market is getting a booster shot entering a time of year (mid-Summer) when things customarily start to slow down a bit. How dramatically have rates fallen? In just six weeks,...Read More
Housing Deal Deadlines & Other Key Terms No, I don’t recall ever handling a real estate deal where the Buyer or Seller omitted to fill in the purchase price or the closing date. But, I have handled multiple deals where the other side left blank something almost as significant. The three biggest ” and most...Read More
Doubling Down on DIY (“Do It Yourself”), or, “If at First You Don’t Succeed, Try, Try Again” “First law of holes”: ‘if you find yourself in a hole . . . stop digging.'” –Adage. One of the more interesting inspections I’ve handled recently involved a Minnetonka home Seller (I represented the Buyer) who clearly was...Read More
Also Known as “Splash Stick,” “Lid Sip Hole Plug,” & “Green Thing” (Just Don’t Call it a “Swizzle Stick”) Want to know why you can get one of those “dip sticks” (my term) at Starbucks ” but not at Caribou, Dunn Bros., or other coffee chain? Starbucks has a patent on it. Or more specifically,...Read More
Learning to Love (OK, Like) Split-Level’s What’s so great about opening the front door of a home and finding yourself standing in the middle of the Living Room? Or maybe Kitchen? That’s been my experience in any number of newer, upper bracket homes ” homes that supposedly boast the latest and greatest of everything, and...Read More
