A Tale of Two Homes Where: 29xx Benton Blvd, just southwest of Minneapolis’ Cedar Lake What: 4 BR/4 BA; 3,100 FSF Colonial built in 1939 How much: sold for $641k (July ’09); originally listed for $925k (April, ’08). Tax assessed value: $849k. Not convinced that overshooting on asking price can boomerang on a Seller (especially...Read More
Overpriced Homes AndPhantom Negotiating LeverageIs a too-high asking price negotiating leverage? Apparently, some Sellers today think that it is. Instead of pricing their homes within the range suggested by the “comp’s” (comparable sold homes), they stake out a price as much as 30% above. Why? Negotiating leverage (presumed, at least). When their home doesn’t sell,...Read More
Sizing Up (What’s Left of) the Summer Market Maybe it’s just the unseasonably cool weather prompting thoughts of Fall(!), but here’s how I see the Twin Cities housing market shaping up between now and Thanksgiving, when things traditionally slow down. Basically, I think the sub-$500k market has different qualities before and after Labor Day (housing...Read More
Another Steep Discount From Listing Price If you have to sell Christmas week in what is already a soft market . . . you may not like the price. This is the second instance I’ve seen of a property sold then accepting a very deep discount from the most recent list price. The home is...Read More
Sold Price $135k below List? Ouch! One of the characteristics of a Buyer’s market is Buyers wresting steep discounts from the Seller’s asking price. Even so, a $135k discount — from an already reduced $800k asking price — stands out for sheer magnitude (note: to see the unabridged report, go to “display” in the lower...Read More
