What Do You Call the Opposite of Online Sales? Amazon has marched into every arena of commerce, building moat after moat — logistical, financial, customer service — to keep its rivals from catching up. It expanded into selling its own wares, into physical retail, entertainment and into all manner of home monitoring devices. And it...Read More
“Highest & Best,” Defined [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] With scarce inventory and low rates once again spurring multiples offers in the Twin Cities now,...Read More
Blast From the Past** [Note to Readers: 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.] So . . . exactly how do you get multiple offers for a home in today’s housing...Read More
When Appraisals Don’t Matter (and When They Do) [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.] “Federal regulators have proposed loosening real-estate appraisal rules so a majority of homes can...Read More
Housing Market Finance, Then & Now “If you don’t have a job — or are afraid of losing one — it doesn’t matter how low interest rates are.” –Ross Kaplan Long before there was a housing bubble (seemingly, 3 lifetimes ago), there was a credit bubble. As a result, seemingly anyone who could complete a...Read More
A decade ago, housing experts warned — incorrectly, it turns out — of a Tsunami of “shadow” inventory waiting to flood the then-moribund housing market, and drag prices still lower. See, “Barry Ritholtz Issues Mea Culpa on Housing.” The source of all those homes? Banks sitting on millions of foreclosures nationally. Fortunately, it never happened: banks bundled...Read More