Tag

Short sale

40% Below Tax Assessed Value

Where: 16xx Cedar Lake Parkway (just northwest of Cedar Lake in Minneapolis) What: 3 BR/2BA Contemporary with almost 3,200 finished square feet. How much: listed for $320k When: originally listed in Oct. ’08 for $549k. Who: listed by RE/MAX Results; agent is Michael Kohler In today’s market, it’s increasingly common to see homes for sale...
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"Not-selling-itis"

Resisting Treatment Imagine you had a medical condition, and sought advice from an expert. They told you that, while there was a tiny chance that you could spontaneously recover, in the vast majority of cases the condition was degenerative. Meanwhile, there was a medicine available that was 100% effective, albeit expensive. Would you take the...
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Name Games, Cont.

‘Non-Distressed,’ ‘Unforced,’ ‘Optional’ A continuing thread on this blog has been the so-far lurching efforts to label key features of today’s economic landscape (“We Have Some With Ham, Too”) So, while it’s certainly not a household term yet, “The Great Recession” looks increasingly likely to be what we collectively call what’s happened the last two...
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Short Sale — 1 Yr Anniversary

Where: 41xx Pillsbury Ave. South, in Minneapolis’ Kingfield neighborhood What: 3BR/1BA, two-story built in 1910. Condition: rough How much: asking $155k When: originally on market Aug, ’08 Most homes, when they don’t sell, eventually drop their price. Not this one. After coming on the market exactly one year(!) ago at $150k, the Seller raised their...
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Showing "Short Sales"

Phew! And That’s Just to Take a Look . . . With a “traditional sale” (no bank involved), here’s how Realtors set up a showing: You call the listing agent’s front desk, request the showing, and wait for a confirmation with showing instructions, i.e., lockbox code, alarm location (if any), etc. (Realtors can now submit...
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"Experienced Short Sale Agent"

Short Sale Agents Try to Reassure With short sales* proliferating the last year or so in the Twin Cities, short sale nightmares have, too. The most common complaints: endless delays, no communication from the bank(s), Sellers who don’t tell Buyers about accepted offers even as they solicit more (since they’re all subject to bank approval,...
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