“Location, Location?” Test your knowledge of Twin Cities real estate, and guess how much the Minneapolis home pictured above is listed for. A. $75,000 B. $149,900 C. $500,000 D. $995,000 Need a hint? The home overlooks the Midtown Greenway, and is located between Lake of the Isles and Lake Calhoun. Give up? The correct answer would be...Read More
Begging 2 Questions I don’t recommend using adverbs like “currently” in combination with the word “listed,” because it begs (at least to my mind) two questions: 1) “what did it use to be listed at?”; and 2) “what will it be listed at after the (next) price reduction?” Better to make a firm, declarative statement.Read More
“The Goldilocks Approach” Anyone who’s done a Web search — which means everyone — knows the problem: type in an overly broad search, and it returns a zillion hits. However, type in an overly narrow or restrictive search, and it returns zero hits. A home’s list price works the same way, albeit in reverse. Too...Read More
Why does that Realtor you know look so tired? In today’s market, it’s likely that they’re actually selling each listing three times. The first time is to the prospective Seller, whose market expectations . . shall we say . . . may be a little out of date. That means patiently educating them about Comp’s; helping them...Read More
The Psychology of a Spurned Offer Sometimes, financial considerations prevent home owners from selling. If they owe more than their home is worth, they must either be able to write a check for the shortfall at closing, or, persuade their lender(s) to reduce the mortgage balance. However, such “underwater” home owners only account for a...Read More
Now THAT’s Curb Appeal Pop quiz: guess the listing price of this estate-like property (with a setting to go with) in Hopkins’ Knollwood neighborhood (just northwest of highways 169 and 7) : A. $1.29MB. $2.45MC. $949kD. $1.89M Answer: C What’s the explanation? A rough market for upper bracket homes in the Twin Cities; and the...Read More
