Tag

price per square foot

Which Suburb is More Expensive, St. Louis Park or Minnetonka?

Home Prices vs. Price Per Square Foot If all you had to go on was the graph (above) showing median home sale prices, it would be easy to field the question, “Which suburb is more expensive, Minnetonka or St. Louis Park?” Answer:  Minnetonka, where the median sales price of $340k (as of September 2018) easily eclipsed...
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Remodeling Home Run by Minneapolis’ Cedar Lake

Killing Three Birds With One Stone What do you do with a dated, functionally obsolete* 1950’s rambler a stone’s throw from increasingly swanky Cedar Lake? In the case of 2425 France Avenue South in St. Louis Park, pop the roof and add a second story. Such an addition, done well, accomplishes three things: One.  Cashes...
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Touting a “For Sale” Home’s Price Per Square Foot

The Last Refuge of a  Scoundrel Desperate Listing Agent When you see a Realtor trumpeting a home’s price per square foot, you can surmise which of the following? A.  The home’s a bargain; B.  It lacks emotional appeal; C.  It’s big; D. The agent is desperate, inexperienced — or both. Correct answer:  “B.”  (the others are...
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The New York Times’ “What You Get” Feature: Misleading Real Estate Statistics

Mixing Apples and Oranges Are real estate prices in rural South Dakota and Mississippi really twice as much as in Dallas? That’s the takeaway, at least superficially, from a NYT piece profiling homes in South Dakota, Mississippi, and Dallas that are all now on the market for around $800k. Prices Per Square Foot; “A Creek...
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Appealing to Buyers’ Emotions (vs. Pocketbooks)

Playing Down the Price “Patriotism is the last refuge of a scoundrel.” –Samuel Johnson The real estate equivalent of Johnson’s line is, “when you’ve got nothing else (left?) to sell, sell price.” That’s not to say value is irrelevant. With ever-more discriminating consumers, online information, and high tech tools and savvy generally, value has never been more important....
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“Entry-Level Luxury” vs. “Lower Upper Bracket”

Car Terminology vs. Housing Terminology In auto sales, cars priced roughly around $40k today apparently are referred to as “entry-level luxury.” So, what would you call an $800k home in the Twin Cities? “Lower upper bracket” (the latter term is courtesy of a former law colleague). “Only $150 Per Square Foot!!” Unlike real estate, cars are...
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