Human vs. Wildlife Squatters Why do a walk-thru inspection of a (very) vacant Minnetonka home that the Buyer intends to tear down after closing? After all, the primary purpose(s) of a walk-thru — usually done within 48 hours of closing — is to make sure there have been no material changes in the home’s condition...Read More
“Sloppy” Pricing — or Something Else? Even in a market with more “sloppy” pricing — properties listed either well below market value (occasionally) or well above (more often) — the new listing near Cedar Lake in Minneapolis stood out: an undersized ’50’s rambler on a level, huge 73′ x 135′ lot just waiting to be torn down and replaced with...Read More
Coming (Down) Soon! OK, so — unlike felling a tree — there’s really no “Timber!” sound associated with tearing down a home. But, the graphic above does a nice job conveying the likely fate of the home at 5140 Thomas Ave. South, in Minneapolis’ Fulton neighborhood (between Linden Hills and the Minnehaha Creek). Just so...Read More
When to Skip Home Improvements In general, I applaud homeowners who want to make improvements to their homes and property. See, “Let’s Hear it For Granny Flats!” However, at least when it comes time to sell, there’s one scenario where owners are better advised to save their cash, and simply market their home to builders: ...Read More
Sizing Up Likely Winners and Losers With the dust literally still settling on the Minneapolis City Council’s March 7 decision to temporarily halt teardowns, it’s premature to sort out all the consequences. But, here’s my preliminary take on likely “winners” and “losers”: Losers: –Buyers and Sellers currently under contract for teardown homes in Minneapolis; –Prospective Minneapolis teardown Sellers; –Minneapolis-focused...Read More
Real Estate Math I showed clients an upper bracket Edina home yesterday that’s been languishing on the market — at ever-lower prices — for 3(!) years. The reason(s) became apparent literally 10 steps in the door: every square foot of the very large home needs updating (the online photos nicely camouflaged that). Given the home’s...Read More
