Late Lunch in the Resource Room If you were tied up with a closing and missed Broker Tour yesterday (as I did), there’s another way to tell how busy it was: by how much food is left in the Resource Room mid-afternoon (note: that’s where listing agents hosting homes on tour typically leave any leftovers)....Read More
“Why Should I Help Pay the Buyer’s Closing Costs??” To the “Greatest Generation,” Millennials (roughly ages 18 to 30) can seem spoiled and irresponsible. To Millennials, the “Greatest Generation” — those who were alive during World War II — can appear stubborn and unreasonable. How does that generation gap play out in residential real estate deals?...Read More
“Now You See It . . . Now You Don’t” Once a “For Sale” home is under contract, the usual convention is to switch its MLS status from “Active” to “A,i” for “Sold, subject to inspection.”* That lets all other prospective Buyers know that there’s somebody ahead of them. So, what happens if the Buyer’s...Read More
21% Over Asking Price! Take an A+ location in Minneapolis’ tony Lowry Hill neighborhood, strategically located in between Downtown Minneapolis and picturesque Lake of the Isles. Add a huge, 4,800 square foot all-brick triplex. Then put it on the market for $314,900 — a whopping $351,600 below tax assessed value of $666,500. What do you...Read More
The Limits of Statisticsin Valuing HomesIt’s only Wednesday, and I’ve already fielded three calls this week from appraisers wanting “scoop” on recent, closed sales that I’ve handled. A year-end pick-up in deals? Well, that, too. However, in each case the appraiser was working on a refinancing application. To approve the new loan, the lender needed...Read More
“But, Does She Have Grandkids Yet?” The duplex at 21xx Irving Ave. South just Northeast of Lake of the Isles in Minneapolis’ Kenwood neighborhood originally came on the market in Spring. Spring, 2007 — that is. Asking price: $1.2 million. After some short intervals off the market, and a couple intervening price reductions, it’s still...Read More
