“DOM” vs. “CDOM” vs. “PDOM” Unbeknownst to non-Realtors, there are not one but THREE different ways to count the number of days a given “For Sale” home has been the market. According to the Multiple Listing Service (“MLS”), they are: One. Days on Market (“DOM”): the number of days the current listing has been on the...Read More
Just Sold Closed: 2521 Kipling in St. Louis Park’s Fern Hill Neighborhood Where: 2521 Kipling Avenue South, just west of Minneapolis’ Cedar Lake. What: True 1.5 Story, 3 Bedroom/3 Bath home with over 2,200 finished square feet on a huge lot (75′ x 138′). When: closed yesterday (5/10). How much: $450,000. Who: listed by Ross Kaplan, Edina Realty —...Read More
Shedding (Crocodile) Tears for Luxury Real Estate Agents When Bill Gates, home seller, tells his Realtor after receiving an offer, “I think $20 million is too low — let’s wait for $30 million” (or $40 million, or ???) . . . you know he can. Can you say, “no (financial) motivation??” In a nutshell, that’s...Read More
Long-in-the-Tooth Listings Even in a Seller’s market where listings vanish in the blink of an eye, they’re out there: homes that have been on the market, through rain and shine, winter and summer, seemingly year after year. What gives? Or perhaps more to the point, is there an opportunity to be had? “Days Years on...Read More
Realtors’ Investment? Skill, Time, & Marketing $$$ How long should a listing contract be? The short answer: Long enough to sell the property being listed. How long that is — assuming that the home is well-priced, staged, and marketed — is typically a function of price. Under $200k in the Twin Cities today, you’d estimate...Read More
So THAT’S Why It’s Been For Sale Forever (Maybe) As I tell clients, the “good stuff” on MLS is invariably buried in the “Agent Remarks” field — which consumers can’t see — rather than the “Public Remarks” field, which they can. Even so, I can’t previously recall a listing agent trying to defuse a VERY...Read More
