Real Estate Jargon 101 What’s the difference between an “accepted” offer and a “fully executed” one? Absolutely nothing. As a former corporate attorney, I actually prefer the latter term, because it’s just a tad more precise, descriptive, etc. However, it can also sound a bit . . . intimidating (especially the “executed” part). Which is why...Read More
Best Advice to Home Sellers: “Tell What You Know” Homeowners can be forgiven for not knowing the difference between a special assessment that’s “pending,” vs. one’s that “levied” ” as opposed to one that is assessed and currently payable. Realtors have trouble keeping those terms straight as well. The best advice to give prospective home...Read More
Question #2: Can Stocks Ever Be “Underbought?” “Some investors have expressed concern that popular trades are overbought, making them vulnerable to a sharp pullback.” –“U.S. Stocks Drop as Investors Unwind Popular Trades”; The Wall Street Journal (3/21/17). Here’s a suggestion for financial journalists: instead of using meaningless, mumbo jumbo phrases like “stocks fell because they...Read More
Best Advice to Home Sellers: “Tell What You Know” Homeowners can be forgiven for not knowing the difference between a special assessment that’s “pending,” vs. one’s that “levied” — as opposed to one that is assessed and currently payable. Realtors have trouble keeping those terms straight as well. The best advice to give prospective home...Read More
“Who’s on First?” — Real Estate Edition Exactly what role(s) do licensees, principals, agents, subagents, brokers, dual agents, and facilitators play in residential real estate in Minnesota? Consumers, I’m sure, have no idea. But their Realtor does. Moreover, it’s incumbent upon their Realtor to (briefly) explain it to them, at the beginning of the relationship. Step #2: document that they’ve...Read More
Shakespeare Must Not Have Known Any Economists* If you don’t know “econospeak,” let me translate what an economist recently said (headline above) about the early 2015 housing market: “Home prices went up last year, but are now leveling off.” There, that wasn’t so bad, was it? 🙂 See also, “If the Economists’ Forecast is Accurate...Read More
