Guess Which Direction “Zestimates” Err On? The local MLS just shared this tidbit (via Inman) about Zillow and its notoriously unreliable “Zestimates”: “If you’re an agent, you’ve probably worked with a Buyer or Seller that has found the “Zestimate” on Zillow of the property they’re selling or interested in buying. It can work as a...Read More
“Good Luck With That” Department I fielded a call the other week from a prospective Buyer who must have just skimmed “How to Make Millions in Real Estate” (or some such title) at Barnes & Noble. I doubt that such an approach ever worked, but it’s a guaranteed loser — and a time sink — in a...Read More
Better Read the Fine Print — and Take Good Notes Along with the proliferation of home warranties in home sales — the option to include such a warranty is now baked into Minnesota’s standard Purchase Agreement — has come (at least to this practitioner) a spike in complexity as well. Here’s just a partial list...Read More
English, Please! “LL/BR is non-conforming. Lkbx on Bk dr. Frnt prch/crftsmn wdwrk/tiled bath/gleaming Maple flrs/HVAC-elect ’11, oven ’14/lrg walkin closet/maint-free ext./prof lndscpng/gorgeous 3 seas porch! Wkshp in gar.” –Excerpt from actual MLS listing. With only 500 characters and spaces in MLS’s Agent and Public remarks fields, there can be a temptation for overzealous listing agents (representing Sellers)...Read More
Housing Market Bellwether One dumpster on a block is meaningless. Two, and I start to pay attention. However, three or more dumpsters on a block — especially big ones — can only mean one thing: the housing stock in the neighborhood is getting a big upgrade, either from exiting homeowners or — more likely —...Read More
Home Buyer — and Buyer’s Agent — Beware According to reliable sources (as they say), it’s officially now happened at least twice in the Twin Cities: a homeowner with electronic monitoring eavesdropped on Buyers viewing their home during a showing — and what they overheard influenced their selling decision. Surprisingly, the overheard comments cut both...Read More
