Housing Market’s “Brussel Sprouts” Edina Realty Regional Manager Terry McDonough gave a terrific talk at City Lakes yesterday about the advantages — and potential pitfalls — of using contracts for deed in today’s housing market. In an environment of zero percent interest rates (“ZIRP”) and lots of stealth home equity (something like 2/3 of those...Read More
On the Plus Side, There’s a Lot Less Prep Once upon a time, listing presentations — essentially, a job interview for Realtors — took about an hour, and covered such things as the Realtor’s track record, credentials, marketing strategy, references, recent housing market activity, etc. Now? After exchanging social pleasantries and taking a quick house...Read More
Upper Bracket No Longer Immune The rich are different than you and me. –F. Scott Fitzgerald When it comes to escaping the scourge of foreclosure, the rich have three singular advantages — and one distinct disadvantage — relative to mere financial mortals. First, the advantages: One. Bigger financial cushion. More affluent home buyers frequently put down...Read More
Appraisal Issues Back on the Front-BurnerAs the saying goes, “April showers bring May flowers.” In the real estate market this Spring, the equivalent is, “April multiple offers bring . . . May appraisal issues” (OK, so it doesn’t have the same ring to it). One of the consequences of a home selling in multiple offers...Read More
