Three Bathrooms? Or 1.75? I just previewed a Golden Valley home for out-of-town clients, and now understand why the home — which appears well-priced and is located in a “demand” neighborhood — has been sitting on the market since last Fall, at ever-lower prices. Strike #1 was the number of Bathrooms. According to MLS —...Read More
Reading Into a Leaning “For Sale” Sign If you’re not in the real estate business, it’s just a leaning “For Sale” sign — in this case, a few blocks west of Cedar Lake, in St. Louis Park’s Fern Hill neighborhood (also known as the “first alphabet”). Ahhh, but if you’re an agent, such a sign...Read More
Home Staging Multiple Choice Which of the following conclusions are highly likely based on the actual MLS photo (above) from this Richfield “For Sale” home: A. Per the purple sheet over the bed, there are no window treatments anywhere in the home (if they’re missing in the bedrooms, they’re likely missing everywhere); B. The home is a...Read More
2014: Year of the “Boomerang Buyer”?? If you didn’t know, a “baby boomeranger” is the adult offspring of a Baby Boomer who’s grown up, graduated from college . . . and moved back home with their parents (presumably unemployed — or at least underemployed). That’s bad for the housing market. Replenished Buyer Pool So, what’s...Read More
Where’s All the Cash Coming From? “Using cash allows real estate investor Jeremy Rupp to pay less than the asking price, then after the deal closes, he gets a mortgage on the home to free up more cash to keep buying.” –Jim Buchta, “Cash is Still King“; The Star Trib (11/3/2013) Call it the real estate version...Read More
Separating Siamese Twins — or Quintuplets “No one ever washes a rental car.” –Popularized (if not originated) by NYT columnist Thomas L. Friedman Just as rental cars aren’t exactly known for receiving TLC (never mind the car wash), so, too, rental properties aren’t usually known for their pristine, state-of-the-art condition. Which is why condo conversions...Read More
