But Watch Out For That Clawback Provision If you want to get the attention of Buyers’ agents, offer to pay them more. Or faster. That’s the strategy of at least one local (Golden Valley) builder, whose yet-to-be built new construction homes are listed on MLS now, but won’t be ready for occupancy until closer to...Read More
Stuck in the Middle: the Plight of the “Near Tear-Down” While Twin Cites developers — and their clients — are once again on the prowl for tear-downs, unfortunately for would-be Sellers of such homes, not everything qualifies. In particular, a great many homes fall into a broad gray area, where they’re too expensive for many...Read More
“Let’s Go Kill Build Something!” Substitute “build” for “kill,” and you’ve got a pretty succinct explanation for today’s (very) robust market for new construction. Namely, with the economy recovering (at least for many consumers) and housing inventory continuing to scrape record lows, Buyers with the means are throwing in the towel waiting for their dream home...Read More
Real Estate Math I showed clients an upper bracket Edina home yesterday that’s been languishing on the market — at ever-lower prices — for 3(!) years. The reason(s) became apparent literally 10 steps in the door: every square foot of the very large home needs updating (the online photos nicely camouflaged that). Given the home’s...Read More
Tear-Downs Spread to Less Expensive Neighborhoods, Busier Streets Literally one day after the Golden Valley home pictured above sold for $77,000 last month ($2k over ask), the new owner listed the to-be-built new construction on MLS (photo, below). Asking price: $449,900 for 5 BR/4 Baths and almost 2,900 finished square feet. Not a bad bump,...Read More
Guess What’s Happening But for the calendar, you might guess that a tornado took off this home’s roof (parts of the South may get tornadoes in January — but not Minnesota). Yet, all that lumber in the front yard clearly indicates that something is going on here. Clues #2 & #3: the neighboring homes with...Read More
