Real Estate Oxymorons Well, yes, that “new roof in 1998” would be a selling feature — if it were 1999 or 2000. Almost 20 years later, however, what the listing agent is really telling prospective Buyers is that the roof is close to if not past its expected life (20-25 years for most 3-tab asphalt...Read More
What’s in an Adjective? A LOT It may seem like a subtle distinction, but home sellers are a LOT safer billing their “new” Kitchen as simply “newer.” The difference? Buyers purchasing a new Kitchen might reasonably expect to see paid receipts. So might the appraiser representing the Buyer’s lender, once the deal advances from inspection...Read More
“Mid-Transaction” vs. “Pre-Transaction” Phone Calls If your Buyer is competing in multiple offers, and the Seller was supposed to be back in touch by 7 p.m. Saturday night and it’s now 8:30 p.m, you betcha’ you’re eager to take a phone call to find out exactly what’s going on. On the other hand, when a stranger...Read More
Surprisingly Spacious Four-Level(!) Split in Southwest Minneapolis Where: 5737 Oliver Avenue South. What: 2 BR/2 Baths with four finished levels, vaulted Living Room with Fireplace, and over 1,600 finished square feet on a huge, .22 acre lot. When: listed March 21; closed April 1 (Friday). How much: asking price — $250k; sold for $277,500. Who:...Read More
Aren’t Multiple Offers Good For Sellers?? Listing Agent: “How did the showing go?” Buyer’s Agent: “Great! They loved it.” Listing Agent: “Is the Buyer going to write?” Buyer’s agent: “No.” Listing agent: “Why not?” Buyer’s agent: “The Buyer doesn’t want to participate in an auction.” –Email exchange between Buyer’s agent and Listing Agent (representing Seller)...Read More
Blast email: “Buyer Need — Deer Run, Victoria” I couldn’t figure out why an Edina Realty office manager was broadcasting — via email to 2,100+ Edina agents this week — what initially looked like “Buyer Need — Beer Run.” Then I re-read the email; it actually said, “Buyer Need — Deer Run, Victoria.” My bad (good?) ....Read More
