Listing Math, Cont. I viewed a non-MLS listing last week in Minnetonka that is quietly being marketed at $1.7 million. The owner bought the 5,000-plus square foot home a year ago for $1.050 million; did $500k of (very smart) updating; and is leaving another $200k of likely updating for the next owner (the upper level hasn’t been remodeled...Read More
Hobby Farm in the City (Minus the Farming) You don’t normally expect to find a big home on 7.6(!) acres within 15 minutes of downtown Minneapolis. In a very expensive neighborhood, to boot. For basically the price of just the land (if not much less!). But that’s exactly what’s for sale on McGinty Road in Minnetonka right now....Read More
Real Estate Guessing Game OK, which Twin Cities neighborhood am I describing? –It’s in Edina, east of Highway 100;–With its blend of rolling hills, wetlands, and manor-like homes on big lots (rules out Country Club), it feels like Minnetonka;–It’s an easy, five minute walk to both the Convention Grill and 50th & France. Give up?...Read More
What’s Wrong With This Picture? You don’t know who’s swimming naked until the tide runs out. –Warren Buffett So, what’s wrong with this Minnetonka home (pictured above)? That is, besides that fact that the front (and most important) photo on MLS looks like the home is stuck in a winter time warp, and it’s now...Read More
Showing Directions asMarketing Strategy One of the most famous lines in sales is “always be closing” (“ABC”). Less well-known — but equally important — is “always be marketing.” I was reminded of that yesterday when I was showing homes to Buyers yesterday in the West suburbs. “Out of Bounds” Showing Directions Prior to meeting clients...Read More
Was: $1.5 Million; Now: $599k Where: 142xx Trace Ridge Road in Minnetonka, just west of 484 What: 4 BR/5 BA with 4,650 square feet on a .79 acre lot How (much): list price is $599k When: originally listed at $1.5 million in 2005 Who: co-listed by Mark Jelinek and Michael Mohs of Edina Realty (Mark...Read More
