Subjective Tolerance Levels First, the good news: assuming the house is a couple of decades old, the settling is very likely historic. So, for a home that was built in say, 1925, the settling likely occurred (and stopped) by 1928. The bad news? It’s (very) hard to correct. It’s possible to use floor jacks —...Read More
Two (Oversized?) New Homes in Place of One I know firsthand that the neighbors aren’t thrilled with the increased density (I live nearby). Nor are they happy with the size of the new homes, which dwarf the next-door homes in both height and finished square feet. But, I certainly understand the business logic of the...Read More
Real Estate Misnomers One of the biggest misconceptions in residential real estate is that, to be a teardown, a home must first be falling down. Hardly. All “teardown” means is that the home is less valuable than the land underneath it. That can be the case for at least two reasons other than physical condition:...Read More
Cashing in on Proximity to South Harriet Park; Targeting “In-Between” Edina Home Buyers “Ar·bi·trage” \ˈär-bÉ™-ËŒtrazh\ [noun]: the practice of buying something in one place and selling it almost immediately in another place where it is worth more. –Merriam-Webster Dictionary It may not be the conventional definition of “arbitrage,” but something a bit like that is currently happening...Read More
Tax Assessed Value: $15 Million; Market Value: ??? Where: 3701 Wayzata Blvd. near border of Minneapolis, Golden Valley, and St. Louis Park. What: Nine-story, 400,000 square foot office building and 24 surrounding acres in an unparalleled setting close to city lakes, 394, and downtown Minneapolis. Who: owned by Target. When: for sale this Fall. How...Read More
The Twin Cities’ “Brooklyn” and “Manhattan?” The Case for Edina’s Country Club Neighborhood Brooklyn has become so hot — and expensive — that the joke in New York is that people who can’t afford to live there should check out cheaper digs in Manhattan. In particular, the Upper East Side now looks like a relative...Read More
