Doing Realtor Damage Control Thanks to a Star Tribune story Tuesday chronicling a supposedly overheated Twin Cities housing market, crestfallen Buyers who repeatedly(!) came up short in multiple offers this Summer, etc., etc., several thousand local agents had to take a chunk out of their busy schedules this week to do damage control with their anxious...Read More
Where’s All the Cash Coming From? “Using cash allows real estate investor Jeremy Rupp to pay less than the asking price, then after the deal closes, he gets a mortgage on the home to free up more cash to keep buying.” –Jim Buchta, “Cash is Still King“; The Star Trib (11/3/2013) Call it the real estate version...Read More
That’s One Way to Put It “Home builders are more busy, but mostly in more-established suburbs where lots are scarce.” –“Squeezing into the Suburbs“; Star Tribune (8/11/2012) What’s another (way to put it)? “Home builders are busier.” Sorry, I couldn’t resist. But, hey! They’re the professional journalists — not me!Read More
Appraisal Version of “Garbage In, Garbage Out” Homes under contract that don’t appraise have been a big issue in the Twin Cities housing market all Spring. See also, Jim Buchta’s “Low Home Appraisals Hold Down Area Values” in this past weekend’s Star Tribune. What is the most common reason? A. Multiple offers drove the price...Read More
Just Don’t Call it a “Shadow Market” What: Cash Buyer looking for a 3 BR/2 BA Craftsman Bungalow near the Lakes with all the “goodies” :　 built-in’s + original character, updated Kitchen and Baths, 2-car garage; upper level Master BR. Linden Hills, Fulton, Kingfield, Bryn Mawr, Minikahda Vista all OK. Price: up to low $400’s....Read More
New News? Or Recycled Rumors? Foreclosures across the country and the Twin Cities are likely to increase in the coming months, dashing hopes that the new year will deliver a rebound in housing prices, despite record-low mortgage rates and dwindling inventory. –Jim Buchta, “Home Values Could Take New Hit From Foreclosures“; Star Tribune (Jan. 2,...Read More
