“Build It and They Will Come” Real Estate Development “Silicon Valley Spec House Seeks $42.8 Million.” –Headline, The Wall Street Journal (3/2/16) 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...Read More
Can You Say, “Organized Seller?” In Minnesota, home Sellers generally must complete a state disclosure form detailing the condition of their home, and provide it to prospective Buyers. That is, unless the Seller and Buyer agree in writing that the Seller is waiving that duty. In practice, most Minnesota Sellers do the former. And that’s...Read More
Who Pays? [Editor’s Note: Seller liability for ice dams and other home issues is case-specific, and affected by local and state law. For legal advice, please contact an attorney.] What a difference a year makes! Last winter, beleaguered Twin Cities homeowners contended with record snow and cold — and (tens of?) thousands of havoc-wreaking ice dams. See,...Read More
Getting “Rebound” Listings Ready for Market Contrary to popular perception, not everything in a Seller’s market sells right away — or at all. When that’s the case, it’s common for the owner to either take their home off the market, or, if they’ve already moved out, to rent it (most popular lease term: one year)....Read More
Explaining Why There’s Nothing for Sale: A Theory Just when Twin Cities Realtors and brokers thought local housing inventory couldn’t get any tighter . . . it did. As of this week, there are barely over 10,000 units for sale in the entire 13-county metro area. That compares with more than 30,000 units for sale...Read More
“Wait Till Next Year Weekend” Unlike, say, the new baseball season, there’s no official “Opening Day” for the Twin Cities Spring housing market. Rather, local Realtor convention holds that the annual Spring market kicks off (sorry) the first mild weekend after the Super Bowl. By that measure . . . it’s still Winter (local temps today...Read More
