Maybe It’s the Other Way Around “New construction often brings down the value of older homes, which wear out and go out of fashion, dragging down prices.” –Robert J. Shiller, “Housing Market is Heating Up, If Not Yet Bubbling”; The New York Times (9/29/2013) It’s a classic glass half full/half empty debate: housing bears such...Read More
“Coupon Year” vs. “Calendar Year” If it seems a little, well, ironic to pay full retail price for a book full of coupons, here’s good news: area retailers begin discounting the 2013 Entertainment book a couple of months into the new year. Which would be . . . now. So, instead of $35, they’re now...Read More
Separating Siamese Twins — or Quintuplets “No one ever washes a rental car.” –Popularized (if not originated) by NYT columnist Thomas L. Friedman Just as rental cars aren’t exactly known for receiving TLC (never mind the car wash), so, too, rental properties aren’t usually known for their pristine, state-of-the-art condition. Which is why condo conversions...Read More
Hot Property “Home needs some cleaning, painting and small repairs. Nice neighborhood and backyard.” –Agent Remarks; MLS Does a “For Sale” home’s condition matter? The short answer: yes — but price matters even more. Exhbit A Witness this 3 Bedroom/2 Bath Bloomington rambler, listed last week for $130,000. That compares with a 2011 tax assessed...Read More
Late to the Game — On Purpose Want to get a BIG discount on Twins tickets AND free parking*? Start by picking a holiday weekend (this one) when lots of fans are out-of-town. Then, pick a makeup game added to the schedule for a rain-out earlier in the season — in this case, the Twins...Read More
2005 vs. 2012 Once upon a time, when the housing market was overheated — like 2005 — a home that needed $100k in updates might be discounted only $50k -$75k. Today? The same home might easily be discounted twice the projected updating cost, or $200k or more. Why the shift? Explanation I see two main...Read More
