Weighing Three Variables Homes on busy streets typically fetch a discount. Is there an equivalent discount for homes located across from a school? (which, in a way, is really just a subset of the “busy street” discount). I’ve never seen data on this, but I’d guess “yes.” I’d further speculate that the discount varies depending...Read More
Tax Assessed Value: $15 Million; Market Value: ??? Where: 3701 Wayzata Blvd. near border of Minneapolis, Golden Valley, and St. Louis Park. What: Nine-story, 400,000 square foot office building and 24 surrounding acres in an unparalleled setting close to city lakes, 394, and downtown Minneapolis. Who: owned by Target. When: for sale this Fall. How...Read More
Refinance Redux Scarcely six weeks ago, I noted that stock market turmoil was prompting a flight to safety, which in turn was driving down interest rates and serving up a golden refinancing opportunity. Guess what? After a year-end rally, global stocks are once again swooning — along with interest rates. Bottom line: if you’re sitting...Read More
When Bigger Isn’t Better Just like the discount for a one-car garage varies, so, too, does the discount for a home with no basement (at least in the Twin Cities housing market, where single family homes routinely come with — and Buyers expect — finished basements). The biggest variable driving the discount for no basement?...Read More
“There’s Gold Copper in Them Thar Hills” If, like my household, you’re contemplating replacing your (very) old central a/c unit this Summer, you’ll discover (like us) that it’s not cheap. But, I was puzzled why, on the contractor bid’s for “disposal fee,” the amount was $0. Disposal Fee? Try, Bounty The explanation? According to the contractor, old a/c...Read More
Pay More Commission, Net More Money? Yup, That’s the Idea Actually, the blog headline (above) was supposed to be a rhetorical question. But, if you’re dubious, here’s the math: Scenario #1: $300k less 5.5% commission = $283,500 Scenario #2: $310k less 7% commission = $288,300 Difference: almost $5k. “The Way to Bet” Of course,...Read More