Case of the Missing Equity . . times Millions? As a realtor, I think of housing as an escalator that roughly corresponds to people’s life stages. In your 20’s, you buy a condo or starter home. When (and if) you get married, you and your partner buy a small family home. When (and if) you...Read More
Star Trib Features New ListingLooking for a great home in the middle of high-demand Linden Hills? Check out today’s Star Trib real estate section: http://www.startribune.com/homes/sell/34819879.html?elr=KArksLckDiUvckDiUiD3aPc:_Yyc:aULPQL7PQLanchO7DiU The home that goes with the dramatic Living Room is 3929 Washburn Ave. South, just two blocks south of Lake Calhoun; it has 4 BR’s, 2 Baths and over 2,200...Read More
“Context, Context, Context” I’ve got numerous clients, savvy investors all, who are beginning to nibble on distressed properties, including multi-family units like condo’s. For those so-inclined, the new mantra is “context, context, context.” That plays out two ways. First, multi-family units typically bear a pro rata share of their building or complex’s common area charges....Read More
High Mortgage Rates Defy Drops Elsewhere T-bill’s are yielding zero, the Fed Funds overnight rate is 1%, the 10 year bond is at 3% . . . and mortgage rates are still at 6%? What gives? Traditionally, 30 year mortgages are 160 basis points above the 10 year bond. If that relationship held now, mortgages...Read More
Portfolio of Dogs“I wouldn’t want to belong to any club that would have me as a member.” –Woody Allen That’s how I feel about the U.S. government buying, ostensibly on my behalf, an equity slice (or several) in household names like Fannie Mae, Freddie Mac, AIG, Wells Fargo, Bank of America, Citigroup, and countless others....Read More
Taking it Off the Market: Pro’s and Con’sPerhaps the number one question realtors field from Sellers this time of year is, “should I take my home off the market for the holidays?” (Question number two? “Should I wait until after the holidays — or even Spring — to put my home on the market?”). Assuming...Read More
