Realtors & the Rental Market If you are a prospective home seller who is convinced that prices are temporarily depressed, what do you do? Contemplate renting. If you are a prospective home buyer who is convinced that prices have further to fall, what do you do? Contemplate renting. For the above-mentioned reasons, Realtors — myself...Read More
[Note: Please go to “Firing Your Realtor – Part 1” to see the beginning of this post] Three. Poor or no feedback from prospective Buyers. As I like to tell clients, the best feedback any home seller can receive is a full-price, non-contingent offer from a financially qualified Buyer (even better: several of them!). However, in...Read More
“Short” Sales: Anything But KARE 11’s Rick Kupchella hosted a nice piece on tonight’s 10 p.m. news about “short sales.” (No video link here because I couldn’t get it to work.) A short sale occurs when the bank(s) agree to reduce the principal that they’re owed so that the owner can take an offer without...Read More
Upper Bracket Woes Although Edina has been a housing standout in the current downturn, it, too, has pockets of excess inventory, and homes that have suffered serial price cuts — and still aren’t selling. Just one street in Edina’s Country Club section, Sunnyslope, now has six homes on the market, at prices ranging from $729,000...Read More
Surviving the Shakeout Edina Realty held its annual meeting for its 2,500-plus local Realtors today at St. Paul’s Xcel Center. I couldn’t catch all of it — clients come first — but what I saw was a combination pep talk, unusually frank discussion of today’s brutal market, and an emotional presentation by Bob Peltier, Edina’s...Read More
Lost Ads — Including Real Estate — Hasten Local Paper’s DemiseThe Star Tribune is not the first major city newspaper to file for bankruptcy (last Thursday, 11 p.m.), and it certainly won’t be the last. Like the Tribune Company before it, its demise was hastened by, roughly in order of significance: 1) way too much...Read More
