New 2013 Continuing Ed for Realtors: “Contracts and Minnesota Distressed Properties” Investing types know that the one of the keys to divining markets is determining market psychology — then acting against it. Call it, “Contrarian Principle #1.” Noise vs. Signal Given Principle #1, it’s no surprise that figuring out exactly which signals reflect consensus sentiment is something of...Read More
(The Term, Not the Type of Deal) In a post earlier this year titled, “Halftime at the Housing Recovery,” I posited that one sign that the housing market has fully recovered is that the percentage of lender-mediated sales (foreclosures and short sales) returns to pre-bust levels (5% or less). Want another sign? The term, “traditional...Read More
Late Fall Buying Opportunities, or, “Perils of Overpricing” This Cape Cod-style 1 1/2 story in St. Louis Park’s Fern Hill neighborhood originally came on the market almost six months ago, at $539,900. Now? The price just dropped again (yesterday) to $329,900 — down over $200k(!) from June, and a substantial discount from the tax assessed value...Read More
Key Statistics — and Vacant Sites — To Watch When the economy comes back, where will Twin Cities developers pick up? Most likely, where they left off when the recession and downturn arrived. –Ross Kaplan, “Bare Ground — For Now“; City Lakes Real Estate Blog (2/9/2010) In a post earlier this month titled, “Halftime at...Read More
Lender-Mediated Deals Now Down to 25% of Housing Market Deals Nationally Is the housing market doing better? Absolutely. Has it fully recovered? No way. Or should I say, “half-way.” I base that not just on where home prices are now — off the bottom, but still well below their 2006 peak — but on the fact...Read More
51% Off! I’ve certainly seen price reductions of $77,900 (or more). But, I don’t recall ever seeing one for that amount (yesterday) off of a home listed for $152,900. If you’re doing the math, that’s a reduction of almost 51%(!), to a new asking price of $75,000 The home, located in South Minneapolis’ Regina neighborhood, has...Read More
