“Old Wine in New Bottles” [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] It turns out that, of the first wave of new Twin Cities listings to hit the market...Read More
“Old Wine in New Bottles?” No, the homes didn’t debut on the market at 12:01 a.m. (the earliest time I saw was 9:29 a.m.). And no, the would-be Seller didn’t win a lifetime supply of diapers, detergent, or some other promotional item (I suppose the housing equivalent would be a Home Depot gift certificate, or maybe a...Read More
“Location, Location, Location” “Context, Context, Context” What can you confidently say about a “For Sale” home whose price was just reduced, days before Christmas? A. The home is now a bargain. B. The Seller is motivated. C. The Seller’s Realtor (listing agent) is motivated. D. The home is better-priced** than it was before. Correct answer:...Read More
Targeting Expired Listings With Buyer Bait-and-Switch Apparently, at least a few overzealous agents at one Twin Cities broker in particular are now trolling for listings using some variation of the following sleazy strategy: Step #1: target “For Sale” homes that have just expired, unsold, on MLS. Step #2: show up unannounced at the home with...Read More
From 16,000 Houses Down to . . . a Dozen or So “Before you’re addicted to heroin, you have lots of worries; after you’re addicted . . . you just have one.” –George Carlin on the “virtue” of being a heroin addict. “I’m not in favor of abolishing the government. I just want to shrink it...Read More
Overreaching Sellers (& Their Side Effects) The big story in the housing market so far this year has been (lack of) inventory. As previously discussed on this blog, that has resulted — at least in the lower price rungs dominated by first-time Buyers — in multiple offers, upward price pressure, and lots of frayed Buyers (and...Read More