Tag

comp’s

"Bruised" Apples-to-Oranges

Lender-Mediated Sales Swallow the Market[Note: the following dialogue, between local mortgage broker Alex Stenback and me, encapsulates a much bigger debate going on within real estate right now: how much do foreclosures and short sales “pull down” traditional sales?] “When “lender mediations” are 60% of the market, it’s getting tougher to say “just ignore that...
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Downtown Minneapolis Condo Deal?

Deep DiscountWhere: Grant Park CondominiumsWhat: #2710 (penthouse)Key Stats: 2,017 sq. ft.; 3BR/3BAHow much: $749,900Originally Listed: 7/26/2005Original List Price: $1.195M Even in a slow market, 3 1/2 years is a long time to wait for a Buyer. And eleven(!) price cuts, totaling almost half a million, is a lot of ground to yield. What gives? While...
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Comparing (Bruised) Apples to Oranges

To Help Clear Housing Market, Peg Tax Value to Last Sale Price “Believe me, it’s not what it is.”—New Yorker cartoon That’s what’s the woman caught in bed with another man, says to her husband standing in the bedroom doorway. And that’s what government authorities are effectively saying to anyone who buys foreclosed properties at...
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