Fashionably Brown (Still) Normally this time of year in Minnesota, it’s pretty easy to spot derelict listings on MLS: just look for the ones with brown — or green! — lawns (not to mention leaf-filled trees, colorful flower beds, etc.). This year? It’s the MLS shots with snow in them that stand out. Like most...Read More
New News? Or Recycled Rumors? Foreclosures across the country and the Twin Cities are likely to increase in the coming months, dashing hopes that the new year will deliver a rebound in housing prices, despite record-low mortgage rates and dwindling inventory. –Jim Buchta, “Home Values Could Take New Hit From Foreclosures“; Star Tribune (Jan. 2,...Read More
Commission Saved: $8,000 Hit to Sales Price: $20,000 In FSBO Mistake #4, I chronicled the case of the hapless For Sale By Owner (“FSBO”) in Golden Valley who wasted their first — and best — month of market exposure incorrectly classified as a “Foreclosure” on MLS. Hit to their bottom line? I’d estimate 3% to 5%....Read More
“You Know What They Meant” Dept. ‘Truely (sic) a diamond in the rough. A little neglect here will save your buyer thousands. A must see. Great location.” –“Agent remarks,” MLS. Presumably, the listing agent is referring to neglect on the Seller’s part, not suggesting that the Buyer neglect their new home. I suppose the obvious follow-up...Read More
Average Payment per Countrywide Victim: $1,595 “When you strike at a king, you must kill him.” –Ralph Waldo Emerson Surveying the latest paltry big bank settlement for predatory lending practices that helped pump up the housing market — before causing it to collapse — it seems obvious that Emerson’s famous line about killing kings has a...Read More
Just as Concerning as Too Messy The only thing worse than biting into an apple with a worm is . . . biting into an apple with half a worm! –Saying Is there really such a thing as a too-clean Seller’s Home Disclosure (required in Minnesota and many other states)? Absolutely. Even the best-built homes...Read More
