Smart Marketing: $10 For Yellow Rope, Wood Stakes Like most people in the neighborhood (not to mention area Realtors), I assumed that the lot for sale just southwest of Cedar Lake in St. Louis Park’s Fern Hill neighborhood was a very narrow rectangle. Not so. What appears to be just the backyard of the home...Read More
Edina New Home Prices Approach $3 Million(!) Want to know what the price ceiling for a new Edina home is today (at least, in white-hot East Edina)? Traditionally, land accounts for 25% to 33% of the total cost of a home, including the land. If the Buyer has a $900k budget for just the land —...Read More
Location x 3 Test your knowledge of the Twin Cities housing market, and guess how much this 2,400 square foot, 1 1/2 story home is listed for: A. $219,900 B. $339,900 C. $409,900 D. $649,900 Answer: “D.” The explanation? The home is located in white-hot East Edina, on a street where empty lots are selling for over...Read More
“1/1/1,” or, Can You Say, “Teardown?” Yes, it’s hard to see. But, if you look closely, you’ll see an itty-bitty home — all 560 square feet of it — in the left center of the top photo. The close-up shot (below) helps, a little . . . P.S.: “1/1/1/” stands for “one Bedroom, one Bathroom, one-car...Read More
“Sloppy” Pricing — or Something Else? Even in a market with more “sloppy” pricing — properties listed either well below market value (occasionally) or well above (more often) — the new listing near Cedar Lake in Minneapolis stood out: an undersized ’50’s rambler on a level, huge 73′ x 135′ lot just waiting to be torn down and replaced with...Read More
“Full Plate” Syndrome (Unrelated to Thanksgiving) When a old, undersized house in a hot neighborhood for tear-downs and new construction fails to sell right away, what might be the explanation? In fact, just such a home debuted on the market near Minneapolis’ Cedar Lake this week. One possibility is that the home is overpriced. Theory...Read More
