Coming Soon: The Multi-Billion Company With One Employee “Facebook Enters $16 Billion Deal for WhatsApp.” —The New York Times (2/19/2014). Just because there aren’t any more gold rushes — like the one set off by James Marshall’s discovery of gold at Sutter’s Mill in California in 1848 — doesn’t mean there aren’t any more rushes for...Read More
“After You” . . . “No, After You” . . . “No, After You” Combine tight inventory in many Twin Cities neighborhoods with frustrated Buyers, and what do you get? Multiple buyers chasing the same property, including some making offers with what Realtors call an “asterisk clause.” Background For the uninitiated, a Buyer employing an “asterisk clause”...Read More
51% Off! I’ve certainly seen price reductions of $77,900 (or more). But, I don’t recall ever seeing one for that amount (yesterday) off of a home listed for $152,900. If you’re doing the math, that’s a reduction of almost 51%(!), to a new asking price of $75,000 The home, located in South Minneapolis’ Regina neighborhood, has...Read More
Not Just “Location, Location, Location” Twin Cities home Buyers (and readers of this blog) know that multiple offers are back, big-time, this year. But not everywhere, or for every property type or at every price point. So, what makes for a sure-fire bidding war, like the one that just erupted at 4340 Colfax Avenue...Read More
What Should the Runners-Up Agents Say to the Listing Agent? Assuming that the listing agent (representing the Seller) conducted multiple offers openly, fairly, was communicative throughout, etc. — vs. selling the home to their own Buyer* at midnight for $20k less than the highest offer — what is appropriate for the runners-up agents to say...Read More
Identifying “Runners-Up” Buyers If you’ve been reading real estate blogs lately — this one and others — no doubt you’ve seen more discussion of multiple offers. That’s because, in a market with much lower inventory, we Realtors are seeing a lot more of them these days. In that vein, this post is about the pros and...Read More
