Tackling the Big Stuff ” or Just Cosmetics? Occasionally, I see a listing agent who takes pains to assure Buyers’ agents in the “Agent Remarks” field on MLS (seen only by Realtors) that the home “is not a flip.” What’s going on? The listing agent (representing the Seller) wants Buyers to know that the home...Read More
Looking for Signs of a Market Top Once upon a time, a sure-fire yellow (or red!) flag for frothy home prices was Realtors buying homes for themselves, either as investments, or to fix up and flip. See, “Insider Buying & the Housing Market: Why Realtors are a CONTRARIAN Indicator.” The logic: agents were most bullish...Read More
Resale Mystery Amongst the new Twin Cities listings debuting on MLS today, this Minneapolis home caught my eye: 5/31/17 (1:03 p.m.): Closed 5/31/17 (2:53 p.m.): Active Why would someone buy a home — in multiple offers, no less — than immediately put it back on the market? No, it’s not a flip: the Seller paid $330k, and...Read More
Old Wine in New Bottles Thanks to a rising housing market, there are now far fewer underwater homeowners. However, they’ve hardly disappeared. In fact, something like 20% of all homeowners with a mortgage — about 5 million people nationally — still owe more on their homes than their home is worth (that’s down from closer to...Read More
Skin Deep Beauty — Real Estate Version I’m working with a prospective Buyer currently who’s (politely) asked me not to show him any more “flips” — that is, homes that have been purchased within the last six months by rehabbers, cleaned up and (selectively) updated, and then put back on the market at a much...Read More
Where: 4906 Old Cedar Lake Road just south of 100 & 394 in St. Louis Park What: 3 BR/1 Bath rambler built in 1924 in very rough condition How much: asking price $89,900; sold price $78,500 When: listed 3/26/2010; off-market 4/21/2010Read More
