“Full Plate” Syndrome (Unrelated to Thanksgiving) When a old, undersized house in a hot neighborhood for tear-downs and new construction fails to sell right away, what might be the explanation? In fact, just such a home debuted on the market near Minneapolis’ Cedar Lake this week. One possibility is that the home is overpriced. Theory...Read More
Buyers Who Hear Footsteps (i.e., Backup Offers) “Offer accepted contingent on 3 weeks of due diligence by builder. Accepting back up offers now. All showings through listing agent.” –Agent Remarks, MLS Normally, “Contingent Upon: Other” on MLS means a property — typically a condo or townhome — is under contract, but that the Buyer is still reviewing...Read More
Anatomy of a Tear-Down, 2008 vs. 2013 As the listing agent marketing 2810 Glenhurst Ave. in St. Louis Park’s Fern Hill neighborhood last Winter, I suggested that prospective home buyers who couldn’t find what they were looking for instead . . . create it. See, “Create Your Dream Home on Fern Hill’s Glenhurst Ave.” Fast forward 8 months . . ....Read More
Divide & Conquer — Kitchen Edition You know the home is a knockout when a roomful of seasoned, upper bracket Realtors all “ooh” and “aahh” — as they did this morning at 5336 Oaklawn, the host of this week’s Exceptional Properties meeting. The home is in the middle of one of the hottest neighborhoods for...Read More
“A Fence Around Central Park” “One would hope that the city would act as protector of sun and light and clean air and space and parkland. Those elements are essential to combat the stress of urban life.” –Jacqueline Kennedy Onassis (1987) The economic “kick” from the row of super-towers — called “Billionaire’s Row” — now...Read More
Maybe It’s the Other Way Around “New construction often brings down the value of older homes, which wear out and go out of fashion, dragging down prices.” –Robert J. Shiller, “Housing Market is Heating Up, If Not Yet Bubbling”; The New York Times (9/29/2013) It’s a classic glass half full/half empty debate: housing bears such...Read More
