How do you show off a home’s proximity to the Midtown Greenway in South Minneapolis? This photo (left) is a pretty good start. In particular, the angle captures the Greenway’s physical setting: a 5.5-mile long former railroad corridor that connects to 100-plus miles of Twin City bike paths (and yes, it’s actually green now!). The listing also includes photos of various...Read More
Keeping the “Pipeline” Full I’m sure I’m not the only Realtor scratching their head (at least a little) about why their recent MLS statistics belie their crazy work weeks (I’ve been going 70-80 hours a week virtually since February). The explanation? MLS statistics are a lagging indicator. They’re also incomplete. Examples What does MLS track by...Read More
Jumbo Mortgages for 4.75% The Federal Reserve anticipates that very low interest rates will be needed for an extended period. –Fed Reserve Chairman Ben Bernanke Mortgage interest rates have been so low for so long (2 years? 5 years?) that it’s no longer perceived as “new news” — but actually, it is. Namely, jumbo mortgages (over...Read More
Disabled Veteran’s Property Tax Exemption Sellers don’t usually have to discuss their property taxes in the Seller’s Disclosure required by Minnesota law. For one thing, the current amount is plainly stated right on the MLS listing (and links to the county record). For another, how are sellers supposed to know what the future taxes will be? Going ...Read More
How Well-Insured Were the Homes? Will a property owner, handed a $100,000 insurance check for major repairs, invest it in a house worth maybe $50,000? Owners will ask “do I walk away with the money?” This is a huge, huge issue. –State Rep. Joe Mullery, whose district includes the North side, and who resides there; The...Read More
Huh?? The explanation for the foregoing is that agents watching a listing — or their clients — will note that a listed home has suddenly disappeared, and will contact the listing agent to see what’s going on. That is, assuming they have interest. In today’s market, homes that cancel or expire invariably pop up the next day or two,...Read More
