“We Can Always Drop the Price, Right?” Yes, But . . . Don’t leftovers come after Thanksgiving, not before? Not when it comes to the housing market. In my own neighborhood close to Minneapolis’ Cedar Lake, I’m aware of at least half a dozen very nice homes which came on the market as far back as...Read More
Realtor Rationalizations Why would a Realtor quote a would-be Seller an unrealistically high list price? Because the agent believes it’s the only way they’ll get hired. The practice — called “buying the listing” — virtually assures that the home will sit, ignored, while it accumulates market time, until eventually the agent broaches the subject of...Read More
Overreaching Sellers (& Their Side Effects) The big story in the housing market so far this year has been (lack of) inventory. As previously discussed on this blog, that has resulted — at least in the lower price rungs dominated by first-time Buyers — in multiple offers, upward price pressure, and lots of frayed Buyers (and...Read More
Raindrops & Price Reductions Notwithstanding the news headlines, not every home is selling in multiple offers the first day on the market. In fact, precisely because of those headlines, I’m seeing more Sellers insist on too-high initial asking prices. When a home isn’t selling — or even getting showings — standard operating procedure is to...Read More
Are Two “For Sale” Signs Better Than One? Not if the Home is Overpriced What do you do if the home you have listed on a busy street isn’t selling (because it’s overpriced), and the owner won’t agree to a price reduction? (note: it’s not my listing). In the case of a Cape Cod currently...Read More
Reassessing After Six Weeks of Market Time “April showers bring May flowers.” –Saying If it’s true that the Spring Market in the Twin Cities officially, umm . . . kicks off after the Super Bowl in February, what happens six weeks later, in mid-March? (In other words . . . now.) Owners of homes that...Read More
