Seller’s Market Side Effects [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.] In addition to the rationale I presented in “Proliferating Home Inspection Tests – Part One,” fellow Edina...Read More
Hot Housing Market Multiple Choice Quick! Guess which of the following variables — besides price — can be a tiebreaker for Sellers weighing multiple offers: A. The Buyer’s type of financing. B. The size of the Buyer’s down payment. C. The Buyer’s lender (local, name brand > out-of-state and/or online). D. The closing date. E....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
How to Go From Two (or More) Buyers to None Multiple offers are such a fixture of the Twin Cities housing market these days that Buyers’ agents need to be on their “on their game” (and then some) if their clients are to have a shot of prevailing. Meanwhile, listing agents (representing Sellers) are almost...Read More
Runner-Up Buyers “Once bitten, twice shy” may be true in romance, but it definitely does not apply in residential real estate. At least, that seems to be the case in housing markets with scarce inventory and rising prices — true in many parts of the country now, including the Twin Cities. More Aggressive On the contrary, would-be...Read More
Wholesale vs. Retail** Realtor Reviews Thanks to continued super-scarce inventory in the Twin Cities, multiple offers are a fixture of this Spring’s housing market (again). Which means agents need to be skilled positioning their Seller for multiple offers — then handling the resulting three-ring (five-ring??) circus with aplomb. How do you know if the listing agent did...Read More
