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
Rational Moves in an Irrational Market Cont. from Part One: —Two. If you’re a Buyer, take advantage of a soft market to upgrade. That’s what stock market investors do during a bear market. Specifically, they buy blue chip stocks that are temporarily “on sale.” Similarly, today’s real estate downturn has lowered the entry point for...Read More
Rational Moves in an Irrational MarketWarren Buffett, Chairman of Berkshire Hathaway (the ultimate parent company of Edina Realty), writes a renowned annual shareholders’ letter read by tens of thousands. Buffett’s letters contain nuggets of wisdom, pithy quotes (his line about credit derivatives being “weapons of mass destruction” was from 2003), and his general take on...Read More
