“Four Three Corners” At least to my knowledge, there’s no one spot in the Twin Cities where four municipalities all touch (sort of like “Four Corners” in the U.S. Southwest, where Utah, Colorado, New Mexico, and Arizona all meet — and somebody limber enough can straddle all of them. See photo, above). But, I’m aware of at least three...Read More
Unpaid Property Taxes: When Credits are Bad and Debits are Good Normally, credits (getting money) at closing is good, while paying money (debits) at closing is bad. When is that not the case? When the Buyer is getting a credit at closing from the Seller for the Seller’s pro rata share of the property taxes...Read More
Property Liens vs. Personal Debt Yesterday’s post discussed the aftermath of a home sale when the new owner is AWOL. Today’s discusses the former owner’s potential liability, post-closing, for any issues that result. First, a mea culpa: while my visit to Hennepin County yesterday initially resulted in — shall we say — some “wheel spinning,”...Read More
“If at First You Don’t Succeed . . . “ Maybe they’ll try again. That’s my reaction to the news that North Dakota voters overwhelmingly rejected a constitutional amendment yesterday that would have eliminated that state’s property tax. To be fair, energy-rich (and financially flush) North Dakota is in a better position than most states...Read More
Out: Gaudy. In: Practical Hummer’s are out, BMW 3’s and 5’s are in. Auto’s, right? Those, too, but I was thinking about the housing market equivalent: well-built and updated homes with all the bells & whistles in high-demand Twin Cities neighborhoods like Tyrol (Golden Valley), Fern Hill (St. Louis Park), and Linden Hills (Southwest Minneapolis)....Read More
Recognize This House? Where: somewhere in Minneapolis. What: a classic, older home with 4 BR/3 BA and over 3,000 square feet. Features gorgeous mill work, built-in’s galore, hardwood floors, beamed ceilings — and on and on. How much: list price now $989k, down from $1.395 two-plus(!) years ago. Property taxes: a gazillion dollars per year....Read More
