How Many Make a “Meteor Shower?” What’s a “housing market meteorite?” Like the celestial kind, they burst onto the scene in a brilliant flash of light; descend (in price) through the night sky (housing market) quickly; then just as quickly disappear (they’re sold). They often have these three additional attributes: One. They’re top-to-bottom (bottom-to-top?) rehab’s;...Read More
April Showers Bring . . . May Price Cuts(?) With the snow barely gone and the trees still November-bare, it will certainly strike some as odd to say this, but it’s true: the Minnesota Spring housing market is already getting long in the tooth. So, if your home hit the market in February, and is unsold...Read More
Keeping Your (Price Cut) Powder Dry If a tree falls in a forest and no one is around to hear it, does it make a sound?” –Ancient Riddle If you have to take a price cut, when is the best time to do it? (See also, “Nurse, I Need a Price Reduction, Stat!”). Put it...Read More
. . . Capitulation? Here’s the latest pricing activity at what I’ll call “Motivated in Minnetonka”: 7/17/09: old price – $595k; new price – $585k8/7/09: old price – $585k; new price – $575k8/19/09: old price- $575k; new price – $565k8/26/09: old price – $565k; new price – $555k9/3/09: old price – $555k; new price –...Read More
A Price Cut By Any Other Name When is a home price cut not a price cut? When it’s billed as “Seller financing” (or other creative Buyer inducements). In a soft rental market, landlords will do practically anything to entice prospective renters without actually lowering their nominal rental rates. By far the most popular gambit...Read More
