Better Jumbo Rates May Presage Market Improvement Just as a watched pot supposedly never boils, my instinct is that residential real estate is not close to bottoming — at least nationally — so long as everyone seems focused on calling the bottom. With that caveat, however, there are some recent signs of improvement worth noting....Read More
The Stuff Recessions are Made Of So I picked up the Sunday Star Tribune — Saturday, when the early edition is out — to proof the splashy new ad for my new listing in St. Louis Park. To maximize exposure, I always instruct the copy setters to make my ad headline three type sizes larger,...Read More
What Would Warren Buffett Say?Note: Warren Buffett, the CEO of Berkshire Hathaway (which also happens to be the parent company of Edina Realty), is famous for his annual letter to shareholders. In that vein, I composed and distributed the following missive to several hundred of my clients and acquaintances this past January (if you want...Read More
“Leave Room to Negotiate” vs. “Priced-to-Sell”No realtor-client conversation is more anticipated — or important — than the one about suggested selling price. Every owner wants to maximize their sales price. No seller wants to feel, leaving the closing, that they left money on the table. (And no realtor wants their client to feel that way!)...Read More
Homes that Pay DividendsEveryone knows that stocks pay dividends, but few know that houses can, too. Not just the psychic rewards of ownership or the aesthetic enjoyment one gets from a beautiful home in a great location — but actual, concrete dividends (albeit in-kind). The best example is the value of a good school district....Read More
Opting to Rent Instead of Sell: Does it Make Sense? Today’s slow housing market is making many would-be sellers act stubbornly, if not irrationally. Perhaps the best example is the long-time owner who is disappointed with prevailing prices, and instead opts to rent until the market improves. While this can be a rational, economic response...Read More
