Calendar Confusion Edina Realty – City Lakes has eight homes on today’s Broker Tour (that’s a lot). And it’s not just my office: the list of homes on tour, market-wide, is more characteristic of March or April, not early August, when things are typically slower. That’s good news for Twin Cities Buyers, less so for Sellers, who...Read More
Why Metro-Wide Housing Prices Are Meaningless; “A Tale of Two Cities Minneapolis Neighborhoods” “It’s not a stock market. It’s a market of stocks.” –old saying “The housing recovery is real and sustained in the metro area, turning a buyer’s market into a seller’s market. But while some neighborhoods soar, others suffer.” –“Inside Twin Cities Housing...Read More
“Ten Showings, $10,000” — Updated Realtors have a saying: “ten showings, $10,000.” What that means is, if a home has been shown by 10 agents — each representing a serious, well-qualified Buyer — and it still hasn’t sold . . . it’s overpriced by at least $10,000. Of course, $10k presumes an average, $250k home....Read More
Listing Inventory: How Many Months’ Supply? It takes a little deciphering, but those four numbers represent how many months of housing supply are currently available in St. Louis Park, Southwest Minneapolis, Golden Valley, and Minnetonka, respectively. The significance? All four of those markets are well below the 4-6 months considered indicative of a “balanced” housing...Read More
Buyer Strategy in a Seller’s Market “Never negotiate hungry. Or tired.” –Ross Kaplan, “Negotiating Advice” (12/7/2010) As I’ve discussed on this blog previously, the “How” of negotiating can be much less important than the “When” or “Where.” As in, “when to stop negotiating (and take a break),” and “never negotiate while driving” (you can’t take...Read More
“Name . . . That . . . Tune Market Time!!” I’d be terrible at “Name that Tune” (I’m tone-deaf and know next to nothing about contemporary music — or any other kind). If you blindfolded me, I couldn’t tell you if I was smelling a rose or rotten eggs (my sense of smell is worse than my musical aptitude). But if I went...Read More
