House Languishing on the Market? It (Usually) Shows Realtors constantly warn their home-selling clients about the risks of overpricing (especially in a soft market). Anyone who doubts that should have been along with me and my clients this weekend as we looked at about a dozen homes for sale in Minnetonka, Golden Valley, and Plymouth....Read More
Beware the Too-Precise Price Today’s New York Times’ Business section has an article that calculates how much the largest U.S. housing markets are still over — or under — valued (“In Their Various Ways, Economists Try to Find Right Price for a Home”; The New York Times, 8/9/08). The calculations — by a Columbia Business...Read More
Fern Hill’s Most Affordable Looking for a single family home in St. Louis Park’s Fern Hill neighborhood for under $200k? Here it is: http://www.edinanet.com/Flyers/elegantB6Print.cfm?getsaved=yes&ID=244418&PrintFlyer=Yes This cute 2 BR, 2 bath home features a large eat-in kitchen, spacious living room, two-car detached garage, and solid 50’s construction. The finished lower level offers extra living and storage...Read More
Listings that Have “Legs”New listings and movie debuts share a lot of similarities. Attention for both is almost always highest at the “premiere,” then quickly tapers off. However, the box office for an especially popular movie declines more gradually, a phenomenon referred to as “having legs.” An appealing listing also has “legs.” Homes that are...Read More
Congress Tries To Help Housing MarketWith (More) Tax Breaks, Subsidies We’ve entered what George Carlin might call the “methadone phase” of the current housing/credit crisis.* In this case, the “addict” is the U.S. housing market; the illicit drug is easy, cheap money (the best kind!); and the pushers are two so-called government-sponsored entities (“GSE’s”), commonly...Read More
Cedar Lake Rehab Opportunity! Looking for a great rehab opportunity, just two blocks to Cedar Lake in Minneapolis? This once-grand, 1930’s Tudor might be for you! (or someone you know). The home needs a complete rehab, including repairs and odor remediation. However, at $450,000, there is huge potential upside. Great original pedigree and bones, including...Read More
