On Tour Today 11 a.m. to 1 p.m.: Lake Calhoun Condo Where: 3150 West Calhoun Parkway #402. What: stunning, Contemporary-influenced Condo overlooking Lake Calhoun and Minneapolis skyline. Over 2,700 FSF with two (huge!) Bedrooms and two Baths. When: listed yesterday (July 30). How much: $999,000. Who: listing agent — Ross Kaplan; Broker — Edina Realty...Read More
Who’s the ‘Knucklehead’?? “If one guy honks at you on the freeway, he’s a knucklehead. If five guys honk at you, you’re the knucklehead.’ –“Programmers Keeps Shows Prospects in Focus (Groups)”; The New York Times (5/11/2012) “Ten showings, $10,000.” –Real estate saying (translation: if a home has had 10 showings and no offers, it’s overpriced...Read More
Lower Mortgage Rates Hike Affordability The big story in real estate this year — besides tightening inventory and rising prices in several market segments — is the effect (still) dropping mortgage rates are having on Buyers’ purchasing over. So, when 30-year rates were over 4% — what, six months ago? — a Buyer who could shoulder...Read More
Surowiecki: Wall Street Excess Due to Regulatory Failure “We need an attitudinal shift on the part of regulators, who need to recognize that their gentleman’s-club ethos is ill-suited to today’s financial world, and who need to be aggressive not just in punishing malfeasance but in preventing it from happening.” –James Surowiecki, “Bankers Gone Wild“; The...Read More
Real Estate Emergency? Usually Not (Thankfully) I can think of a handful of situations that qualify as a bona fide real estate emergency: –Getting an offer to the listing agent, pre-deadline, on a home in multiple offers; –Getting in to see a newly-listed home likely to be in multiple offers; –Responding to the other party...Read More
Hiring a Buyer’s Agent Too Late It doesn’t happen often, but once in awhile I’ll get a call from someone who wants to hire me to help them purchase a home, but I can’t help them. Why’s that? They called me too late. The typical scenario is the would-be Buyer went through a Sunday open...Read More
