Or Maybe They Should be Called “Dismaying Jeans” Yeah, yeah, I know what fancy-schmancy retailers mean when they refer to “distressed jeans”: jeans whose various holes and patches somehow make them look chic — and worth a huge mark-up (also referred to as “vintage clothing” in some quarters). My definition of “distressed jeans” is a...Read More
What Happens After the Listing Contract Expires? [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.] “Seller does not have to pay Broker’s compensation if Seller signs another valid listing...Read More
Post-Election Aftermath: Stock Market Boom, Bond Market Bust Overshadowed by all the political fallout the last week is the election’s effect on interest rates: up, quickly. According to Edina Mortgage’s Steve Mohabir, subsequent to the election, interest rates for a 30-year mortgage for well-qualified borrowers jumped a huge (“Yuge??“) 50 basis points, from 3.5% to over...Read More
4th Quarter Spike in Relocation Sales Yes, eventually the leaves will all be down, truly cold weather will arrive . . . and the seasonal Holiday slow-down will be upon us. But, not yet. In the meantime, the Twin Cities housing market continues to be characterized by a shortage of inventory and brisk activity. In...Read More
Wait a second! Aren’t there still almost three months left in 2016? Not if you’re contemplating buying or selling a home — at least, if a mortgage is involved. Then, the window to complete a deal this year is rapidly closing. That’s because the typical lag time from consummated Purchase Agreement to closing is 6-8...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
