Targeting First-Time Buyers “Hit ’em where they ain’t.” –Hall of Fame Outfielder Willie Keeler’s advice to hitters “To establish a toehold in a market, target business that others aren’t focused on.” –Corollary, Ross Kaplan Sort of like Keeler, my advice to new Realtors is to go after clients — and business — that other Realtors...Read More
Calculating the Risk that a Low Appraisal Will Scuttle a Deal In a market with lots of first-time Buyers (like today’s), it’s a question I’ve been fielding a lot this Spring: ‘when should I give notice to my landlord?” The (usually) safe answer: ‘once the Inspection Contingency has been removed.’ That is, after the Buyer’s...Read More
The Art of Predicting Housing — And Everything Else “It’s tough to make predictions — especially about the future.” –Yogi Berra “The trend is your friend . . . until the bend.” –Stock market wag If most prognosticators simply extrapolate current conditions — which I believe is the case — does it follow that I...Read More
A Housing Deal — if You Can Afford It Quick! Assuming the Buyer has the financial wherewithal, which is a better deal: buying a $300,000 house for $320,000, or getting a $425,000 house for $400,000? Don’t follow? In the Twin Cities housing market right now, homes in move-in condition at a price that first-time Buyers...Read More
Of Apples and Houses One of the trickier concepts in residential real estate — especially for first-time home buyers — is seller-paid points. Think of it like this: if you buy an apple from me, is there a difference between paying me 97¢, or paying $1 and getting back 3¢? Not to me — either way,...Read More
First-Time Buyers’ Handbook Your Realtor just called to tell you that the Seller accepted your counter-offer, signifying that you have a deal. Who do you call first? A. Your best friend. B. Your parents. C. Your lender. D. The list of home inspectors your agent gave you. Answer: D. And yes, that’s the correct answer even...Read More
