“A [Financial] Crisis is a Terrible Thing to Waste” Thanks(?) to global financial turmoil in the wake of diving energy prices (how’s that for a “pinch me” moment??), investors are running to the perceived safety of bonds. Result: mortgage interest rates are plummeting as well. The ten-year U.S. bond is now just above 2%. Meanwhile,...Read More
Lower Rates, Yes, But Higher Prices (& Fewer Choices) First, a caveat: to home Sellers, higher home prices are an unalloyed plus. More money at closing is . . . more money (Realtors paid commissions like it, too). And lower interest rates are catnip to Buyers — at least ones financing their purchase. But at what...Read More
An App Acronym That Captures the Zeitgeist OK, so the term is easily confused — at least by someone with dyslexia — for another, not-so-nice acronym (“MOFO” — look it up). And the new app designed to exploit “FOMO” (Fear of Missing Out) targets insecure, 20-something social climbers (called “CouchCache,” it lets users give others...Read More
Bare Cupboards, or “Yes, We Have No Bananas” The big story in the Twin Cities housing market this year — besides infinitesimal interest rates and firming if not rising prices in many neighborhoods — is the lean inventory (hmm . . . do you suppose there’s a connection amongst all those things?). Metro-wide, listings are at...Read More
Not Just “Location, Location, Location” Twin Cities home Buyers (and readers of this blog) know that multiple offers are back, big-time, this year. But not everywhere, or for every property type or at every price point. So, what makes for a sure-fire bidding war, like the one that just erupted at 4340 Colfax Avenue...Read More
Flying (& Mountain Climbing) Metaphors Pilots in turbulent weather will frequently announce to their passengers that they’re “climbing to 40,000 feet” or “descending to 30,000 feet” in search of a smoother ride. As a Buyer’s agent, I will point out to clients if moving up (or down) a rung in price makes sense (cents?). That...Read More
