30-Year Mortgages Below 4% for 1st Time Since Election According to Edina Mortgage’s Steve Mohabir, long-term interest rates for well-qualified Buyers are once again below 4%. So much for the fear of skyrocketing rates derailing the housing market any time soon (the bond market has also rallied as interest rates have dropped — repeat, dropped — the...Read More
Included By Whom?? “A Home Protection/Warranty Plan will be obtained by __ Buyer __ Seller.” –Standard Minnesota Purchase Agreement, line 238. One of my favorite 1960’s-era cartoons shows a gas station with a big sign in front promising “Free Mug with Fill.” Down the street, the attendant (another anachronism) is chasing after a car that...Read More
Overpriced Homes — The Sequel?? One-one-thousand . . . two-one-thousand . . . three-one thousand. If you’re a Realtor attuned to this Spring’s torrid housing market, you can practically hear it coming. What, you ask? No, not rising interest rates. Contrary to everyone’s expectations (again), they’ve been drifting back down, not spiking higher. No, the...Read More
On the 2 Yard Line vs. The End Zone [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] Test your knowledge of today’s housing market (and real estate law), and...Read More
32(!) Offers for One House Rampant multiple offers were a staple of the 2005-2006 housing market, too. But back then, at least in my experience, once the listing agent had received 4-5 offers, other prospective Buyers tended to bow out rather than contribute to the feeding frenzy. Today, that no longer seems to be the...Read More
Pre-List Networking Caveats & Catches In a super-tight, super fast Twin Cities housing market — at least at lower price rungs — aggressive, proactive Buyers’ agents are increasingly turning to pre-list networking to find ideas for their frustrated clients. The catch? Actually, there are three: One. Price. Especially in a rising market, at least a few...Read More
