Resources for Home Buyers

School

Determining the Discount (Premium??) for Homes Located Across From a School

Key Variables: Type of School, Buyer Characteristics Homes on busy streets typically fetch a discount. Is there an equivalent discount for homes located across from a school? (which, in a way, is really just a subset of “busy street” — call it, an “intermittently busy street”). I’ve never seen formal data on this, but I’d guess...
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2733 Huntington

Coming Soon! 2733 Huntington Ave. South in St. Louis Park’s Fern Hill Neighorhood

Don’t miss your chance to be just the fourth owner of this super-spacious, 5 BR/4 Bath Colonial in St. Louis Park’s high demand Fern Hill neighborhood. Just two blocks from Minneapolis’ Cedar Lake, this home is also convenient to Uptown, Downtown, and the Chain of Lakes (Isles, Bde Maka Ska, Harriet, etc.). The sprawling .25...
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Upper Level 300x225 1

Paying Attention to What the Listing DOESN’T Say

MLS: “3rd Bedroom on Upper Level is Large & Has Lots of Storage” There’s certainly nothing wrong with an Upper Level Bedroom (pictured above) that’s large and has lots of storage. But, what’s notable — at least to me — is what’s omitted. Errors of (C)omission Namely, any mention of a Bathroom, or whether the...
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Out Of Bounds2

In-bounds or Out? The Standard for Buyers’ Walk-Through Inspection

“Substantially the Condition,” Defined (Sort of) [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] “Buyer has the right to a walk-through review of the property prior to closing...
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Storm

Uh-Oh! What Happens When a Tornado (or Earthquake, or Flood) Damages a “For Sale” Home Before Closing??

Short Answer: Buyer’s Call [Note to Readers:  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] RISK OF LOSS: If there is any loss or damage to the Property between the Date...
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“Sold?” No, “Spoken For” (or if you prefer, “Under Contract”)

When “Sold” Doesn’t Mean “Sold” At least in Minnesota, when you see a “Sold” rider above a “For Sale” sign in front of a house, it doesn’t mean “Sold” — it means “Pending.” Huh?? The (admittedly confusing) convention is to pronounce a home that’s under contract and past Inspection — but not yet closed —...
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4-Season Porches in a 2-Season Climate (“Winter” & “Road Construction”) 🙂

“Screened Porches” vs. “3-Season Porches” vs. “4-Season Porches” [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.]. Quick! Which kinds of porches are included in a home’s finished square...
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Getting the “Homestead” Disclosure Wrong

Closing Headaches — Exhibit A [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] It’s not the biggest mistake Sellers can make — the maximum exposure is typically “only”...
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“Mid-Century Modern?” Or Just “Mid-Century?”

The “You Know it When You See it” Test While it’s true that every Mid-Century Modern home was built in the 1950’s (or thereabouts), it’s decidedly NOT the case that every home built in the 1950’s is a “Mid-Century Modern.” In fact, in real life, very few are. On MLS, for every home that I...
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May Closings & (Minnesota) Property Taxes

But First . . . a Brief History Lesson I don’t know about other states — I’m only licensed to sell real estate in Minnesota — but here, residential property taxes are due twice a year: May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy — like practically every...
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