Is an “alcove apartment” easier to rent than a “studio?” Apparently, at least one Twin Cities developer seems to think so. So far, the term only seems to be a feature of the rental market: out of almost 1,000 condo’s currently for sale on the local (NorthStar) MLS, only five use the term — and...Read More
High Demand Location Close to Lakes, Parks & Downtown Minneapolis Once upon a time — like, 1980 — there were about 50 ramblers on large lots in St. Louis Park’s Fern Hill neighborhood. Today? I’d estimate that there are only about 30 left — make that, 29 after the recent bulldozing of 2512 Inglewood (photo,...Read More
I don’t know about other housing markets, but at least in the Twin Cities, it’s not customary to include floor plans in MLS listings. In fact, I’d estimate that fewer than 1% of all listings have them. The two exceptions I’m aware of: 1) new construction, especially upper bracket and condo’s; and 2) homes with...Read More
“Build It and They Will Come” Real Estate Development “Silicon Valley Spec House Seeks $42.8 Million.” —Headline, The Wall Street Journal. For the uninitiated, a “spec” or “speculative” house is a home that a developer first builds, then tries to sell. That’s opposed to a home that’s commissioned by/for an existing client, and built according...Read More
Silver Lining: Indoor Exercise I’ve certainly had prospective Buyers pass on a single-family home because they didn’t like the feel of the neighboring houses or block. What’s the equivalent for a condo? I just showed a Minnetonka condo that was so far from the elevator — I’d guess about 250 feet, or literally a 2...Read More
Location, Location, Location (Again) Normally, when a house has a major foundation issue, standard Realtor advice to Buyers is “run, don’t walk” (to something else). What’s the exception to that? If the home in question is on desirable lot in a hot neighborhood for tear-downs — and the foundation issue translates into a sufficiently hefty discount. Exit...Read More
