Dow Jones Drops 414 Points to Close at 22,445 Say what you will about the housing market’s up’s and down’s. But, I don’t know anyone who bought a home in early October for $270,000, that’s suddenly worth only $225,000 scarcely 10 weeks later. Yet, that’s almost exactly what’s just happened in the stock market. Just subtract...Read More
Cash vs. Financed Deals Is 21 days enough time to buy a home? If two of those days are a holiday (Dec. 24 -25) AND the Buyer needs a mortgage . . . almost certainly not. That’s because, with a financed deal, it takes at least 10-12 business days just to secure a mortgage. In...Read More
“Only 61 53 46(!) Shopping Days Till Christmas!” Yeah, I know: there are still officially 53 days left in 2018. But, that’s cutting it pretty close for would-be home buyers and sellers who want to close by the end of the year. Here’s my math: Thanksgiving week: subtract Thursday and Friday (Nov. 22 and 23). Christmas: subtract Monday and...Read More
“Bookends” at Beginning, End of Loan Process [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] As anyone who’s recently bought or sold a home in Minnesota knows, a Pre-approval...Read More
The REAL Purpose of Appraisals What is the purpose of an appraisal, in the context of a residential real estate sale? To make sure that, if the Buyer defaults on their loan and the lender ultimately forecloses, the value of the collateral is sufficient to make the lender whole. Or, in plain English: if the...Read More
Savvy Strategy for Getting Realtor Referrals Smart Realtors know that the most important people coming through weekend open houses aren’t necessarily checking out the house. Rather, they’re checking out them. Specifically, the open house visitors — often neighbors — want to see if the agent is doing a good job marketing the home, is knowledgeable, easy to talk...Read More
