Market Misconceptions Water, water, everywhere, Nor any drop to drink. –Samuel Taylor Coleridge, “Rime of the Ancient Mariner” All politics is local. –former U.S. Speaker of the House Tip O’Neill All real estate is local. –Corollary, Ross Kaplan One of the biggest misconceptions about today’s housing market is that there is a surfeit of homes available...Read More
Defining “Location” One of the ways Twin Cities agents search for properties for their clients — at least until the end of this year — is by “MLS area.” So, “300” roughly corresponds to Lake of the Isles and Lake Calhoun; “391” to St. Louis Park; “309” to Southwest Minneapolis (Kingfield, Linden Hills, etc.); and...Read More
The Second Most Popular Question in Real Estate What’s the second most popular question in real estate? (the first being, “what’s my home worth?”) “How long will it take to sell my home?” Unless the Realtor is going to buy it, the honest answer is, “I don’t know.” However, it is possible to give the...Read More
Searching By Neighborhood Names No, the map (at right) isn’t some sort of alternate zip code for Hennepin County. Actually, come to think of it . . . it is. For Realtors. Unbeknownst to (most of) the public, the Twin Cities Multiple Listing Service (“MLS”) database splits the metro and outlying areas into 139 districts....Read More
“Not a Drive-By,” IllustratedIn contrast to the Hopkins home discussed in the next post (“It’s Listed for HOW MUCH??”), there’s no hiding the garage on this Linden Hills home. Which would explain the lead shot on MLS — a pretty, azalea-framed shot of Lake Harriet — combined with this comment in both the Public and...Read More
Neighborhood Name as “Brand” Once upon a time, people lived in St. Paul, or Minneapolis, or St. Louis Park. Now, they live in Fern Hill, Birchwood, or Sorenson (all neighborhoods in St. Louis Park). Overall, as Martha Stewart would say, “that’s a good thing.” Especially if the neighborhood name isn’t just marketing, but reflects an...Read More
