Can you have Capitalism without Capital? That’s the sixty-four thousand (er, trillion) dollar question occupying the financial markets right now. At the moment, it’s not clear whether there is a capital shortage, or, the capital that exists is simply frozen (and therefore not circulating). In truth, the two possibilities are not mutually exclusive (“Duh-uh,” as...Read More
“So How’s the Market?”That’s probably the question realtors — myself included — get asked the most. The quick answer: it depends. On the neighborhood, of course. But also your price point; whether you’re selling or buying — or both; your age; your credit score(s); your intended holding period; and a raft of other factors. But...Read More
“That Sure Went Fast” “The harder you work, the luckier you get”–Samuel Goldwyn One of the things that can happen when a home sells fast — like my listing near Lake Calhoun two weeks ago — is that people attribute it to luck. Well, actually, no. I like to tell clients that, to a realtor,...Read More
What’s Negotiable in Real Estate — and What Isn’t Everyone seems to know that home prices are negotiable. So it’s logical to assume that realtor commissions are, too. Unfortunately, I tell prospective clients, my commission is not. When I practiced corporate law, my firm billed me out at $185 an hour. Could clients have found...Read More
How to Fix the Housing Market — Really! I never worked for Goldman Sachs, so ipso facto I’m probably disqualified from proposing any solutions to the worldwide financial crisis/credit freeze/housing bust. See, “The Guys From ‘Government Sachs'” (The New York Times; 10/19/08). However, it does seem that, at least at the moment, the government’s response(s)...Read More
Do as Warren Does? Perhaps the most-remarked news in the financial world the last few days — quite a statement given the current decibel level — is Warren Buffett’s stock market call. On Friday’s Wall Street Journal op-ed page, Buffett, Edina Realty’s largest shareholder (via his interest in Edina’s parent company), famously exhorted fellow investors...Read More
