Lender-Speak, Translated What they said: ‘the check’s in the mail.’ Translation: ‘I’m late paying the bills.’ What they said: ‘The dog ate my homework.’ Translation: ‘I didn’t do the assignment.’ What they said: ‘I have been holding off on submitting the file until we are within 60 days of closing (for both the rate lock and because the...Read More
Can’t Sell It? Sub-Divide It! As has been painfully noisily clear the last week or so, the landlord’s solution to filling the hard-to-lease retail space — directly below the Edina Realty – City Lakes office in Calhoun Village — has been to subdivide it. So, instead of the 3,000 square foot-plus space formerly occupied by Hollywood...Read More
Misleading “Median” If you averaged temperatures in the Sahara and Antarctic, you’d get a mild 60 degrees or so — and a meaningless statistic. In a nutshell, that’s my reaction to the most recent Twin Cities housing statistics, showing that the median Twin Cities home sales price in January was $140,000. But that number means virtually nothing, because...Read More
Pop Quiz “Nov. 21, 2010.” “July 9, 2010.” “Oct. 10, 2010.” What exactly are those dates? A. When Realtors submitted offers on short sales in the Twin Cities, and are still waiting for formal responses from the bank(s). B. The expiration date(s) of various food items left in the Edina Realty – City Lakes fridge. Answer: ...Read More
Never Saying, “I Told You So” How do Realtors establish credibility with clients? I wish it was only a matter of coming across as authoritative about the housing market, being on top of new listings and “Sold’s,” having great references, etc. In today’s housing market, however — especially with clients who don’t already know you...Read More
If you’re over 30, you may recall the 1980’s TV commercial for Prego pasta sauce. “What about all that good stuff you put in your homemade sauce?,” the son asks his mother. “It’s in there,” the mother answers. “Parsley and basel and oregano?,” the Dad asks. “It’s in there,” the Mom reassures. So, where’s my...Read More
