Buyer: “My Offer is (WAY) Below Your Asking Price Because . . .” It’s no sin trying to buy a home at a discount. Of course, especially in a strong Seller’s market, such a strategy has almost no chance of succeeding . . . but there’s no harm in trying (as they say). What I wouldn’t recommend...Read More
“Starter home“: a relatively small, economical house or condominium that meets the requirements of young people buying their first home. My association with “starter home” ” and I’m sure many others’ ” is a small house, usually two Bedrooms (or three very small ones), that may (or may not) be in rough condition. Other popular adjectives: “cute,”...Read More
Yes, I know: when people talk about whether it’s a “Seller’s Market” or a “Buyer’s Market,” they’re referring to whether Buyers or Sellers currently have the upper hand (news flash: the Twin Cities housing market has strongly favored Sellers the last several years). But, there’s also a pendulum for hosting weekend open houses. Although I personally like...Read More
Housing Winners & Losers in Sellers’ Markets & Buyers’ Markets Every housing market has its winners and losers. Every housing market. So, 7-8 years ago, when the market was tanking, the big winners were first-time Buyers — at least ones with (good) jobs and unblemished credit. With rock-bottom prices and an ocean of inventory, many...Read More
Included By Whom?? “A Home Protection/Warranty Plan will be obtained by __ Buyer __ Seller.” –Standard Minnesota Purchase Agreement, line 238. One of my favorite 1960’s-era cartoons shows a gas station with a big sign in front promising “Free Mug with Fill.” Down the street, the attendant (another anachronism) is chasing after a car that...Read More
Seller’s Market Side Effects [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] In addition to the rationale I presented in “Proliferating Home Inspection Tests – Part One,” fellow Edina...Read More
