A Realtor’s Definition of a “7” (or a “3” or a “9”) vs. a Consumer’s [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Good Buyers’ agents don’t just qualify their clients financially, they also vet the...Read More
Decoding Realtor-Speak [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] There’s usually not much mystery about which homes fall into the “fixer upper” category. Either the pictures give it...Read More
2005 vs. 2012 Once upon a time, when the housing market was overheated — like 2005 — a home that needed $100k in updates might be discounted only $50k -$75k. Today? The same home might easily be discounted twice the projected updating cost, or $200k or more. Why the shift? Explanation I see two main...Read More
Robbinsdale Retrofit: Finding Opportunities in Today’s Housing Market In the stock market, there are periods when the proverbial “high tide raises all ships”: it doesn’t matter which stock(s) you own, so long as you’re in the market. When the vast majority of stocks are instead treading water, it’s known as “a stock picker’s market.” Success takes...Read More
Three (and one half) Theories One of the more confounding things about today’s — shall we say — “unusual” housing market is the conspicuous absence of what Realtors used to call the “sweat equity” Buyer. In no particular order, here are the three explanations I hear most often — and find most credible. One. Soft...Read More
Affording the Payment. Just. One of the anomalies in today’s uneven, quirky housing market is the home that — due to relentless price cutting and/or lengthy market time — Buyers can now afford, but which won’t leave them with any leftover money for related expenses. I’m thinking of two situations in particular: One. The Upper Bracket...Read More
