But, What’s “Too Long?” Test your knowledge of today’s housing market, and respond to the following statement: “A for sale home sitting on the market for 60 days is already shopworn”: A. True. B. False. C. Impossible to tell without more info. Correct answer. “C.” The key “other info”: price and location (of course). “Houston,...Read More
Financial, Psychological Toll OK, so there’s no actual weight or carrying involved (unlike furniture moving, which I once did). But, veteran Realtors know — and newbie’s will find out — that it’s burdensome to represent homes that linger on the market. While median-priced Twin Cities homes (now around $265k) are still selling (too?) quickly, the expected...Read More
“We Can Always Drop the Price, Right?” Yes, But . . . Wait a second! Don’t leftovers come after Thanksgiving? Not when it comes to the housing market. In my own neighborhood close to Minneapolis’ Cedar Lake, I’m aware of at least half a dozen very nice homes which came on the market as far back...Read More
“DOM” vs. “CDOM” vs. “PDOM” Unbeknownst to non-Realtors, there are not one but THREE different ways to count the number of days a given “For Sale” home has been the market. According to the Multiple Listing Service (“MLS”), they are: One. Days on Market (“DOM”): the number of days the current listing has been on the...Read More
Just Sold Closed: 2521 Kipling in St. Louis Park’s Fern Hill Neighborhood Where: 2521 Kipling Avenue South, just west of Minneapolis’ Cedar Lake. What: True 1.5 Story, 3 Bedroom/3 Bath home with over 2,200 finished square feet on a huge lot (75′ x 138′). When: closed yesterday (5/10). How much: $450,000. Who: listed by Ross Kaplan, Edina Realty —...Read More
Multiple Offer Aftermath: 21(!) Runner-Up Buyers How crazy is the Spring, 2017 housing market? Consider the activity at 2850 Florida in St. Louis Park, listed by Edina Realty – City Lakes’ Susan Melbye for $250k last Thursday (March 30): Days on market: 4. Showings: 60+ (including one of my Buyers). People thru Sunday open house...Read More
