MLS Shorthand for “Potential Tear-Down” Test your knowledge of today’s housing market, and field this question: How can you determine that a “For Sale” home on MLS is a potential tear-down? A. The MLS photos show a home in decrepit condition — or, there are no photos. B. In the “Seller Terms” field on MLS,...Read More
$100 Off Weekly, Five Weeks in Row [Editor’s note: if the screen shot above is too hard to decipher, it shows a home that’s dropped $100 each of the last five weeks, from $475,000 to $474,900, then to $474,800, etc. The current price is $474,500.] If you added a zero (or two), you might actually...Read More
Resale Mystery Amongst the new Twin Cities listings debuting on MLS today, this Minneapolis home caught my eye: 5/31/17 (1:03 p.m.): Closed 5/31/17 (2:53 p.m.): Active Why would someone buy a home — in multiple offers, no less — than immediately put it back on the market? No, it’s not a flip: the Seller paid $330k, and...Read More
Home Show & Tell (Emphasis on “Show”) “Updated home on a private 3/4 acre lot with lake views in Fagerness Point Neighborhood in Westonka Schools.” –“Agent Remarks”; MLS I give credit to the co-listing agent, Edina Realty-City Lakes’ Matt Lill, for not just telling prospective Buyers where this Orono home is located, but showing...Read More
Good in May > Perfect in June “Good is the enemy of the Great.” –aphorism, Voltaire “Great is the enemy of the Good.” –real estate corollary, Ross Kaplan At least a few Twin Cities Sellers this Spring are making a strategic mistake prepping their homes for market. Namely, they’re taking too long. So, instead of listing now,...Read More
Fixtures vs. Personal Property: The Proactive Solution It’s not always clear whether something is a “fixture” or “personal property.” In theory, the test is straightforward: is the item in question permanently attached? The rub, of course, is what constitutes “permanent”: one person’s easy removal and repair (usually by the Seller) is another’s “of course it...Read More
