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
The Too-Zealous Realtor Don’t squeaky wheels get the grease? And in a hyper-competitive multiple offer situation, isn’t an aggressive agent an asset? (nice alliteration, huh?) Yes . . . to a point. Beyond that point, hyper-aggressive behavior on the part of a Buyer’s agent can become a negative to the Seller (and their agent). Cause...Read More
Setting Reasonable (vs. Inflated) Expectations Conducting multiple offers, well, is one of the biggest challenges facing a listing agent. In turn, that requires properly educating and coaching home sellers about the appropriate response timetable; possible negotiating strategies; offer nuances (“asterisk clause,” anyone?); disclosure choices and obligations; and use of MLS showing instructions. To name just...Read More
The Opposite of Buying Down Rates Wait a second! Isn’t borrowers’ goal to pay the lowest interest rate they can on their mortgage? Yes, but — especially for first-time home Buyers — there’s the added consideration of closing costs. On a $200,000 home, a typical amount would be 3%, or $6,000. Conserving Cash A popular...Read More
Multiple Offers x 2 You know a home is a hot commodity when it hits the market; immediately attracts multiple offers; has a deal fall apart; goes back on the market; then immediately goes into multiple offers again. Believe it or not, that exact scenario just played out in St. Louis Park’s Fern Hill neighborhood....Read More
