“Those who know, don’t talk; and those who talk, don’t know.” –stock market saying What’s true in the stock market is also true in real estate. Namely, the value of what Realtors call a “Comparative Market Analysis” (“CMA”) that can be had for free is . . . about what you pay for it. As...Read More
“Shadow Listings” “Don’t be an undercover agent.” –Advice routinely given to new Realtors (i.e., let people know you sell homes) Here’s another explanation for the scarcity of local (Twin Cities) housing inventory, in what should be the busiest time of the year for new listings: stuff’s for sale — but it’s non-MLS. See also, “The...Read More
“Meteorological” Spring vs. “Calendar” Spring vs.”Minnesota Realtor” Spring With still-freezing temp’s and another 3-4 inches of fresh snow overnight, it may seem like a cruel joke. But, the halfway point of the Twin Cities Spring housing market is rapidly approaching. Really. April Fool’s Joke? Just as “meteorological” Spring is defined as March-April-May, and “calendar” Spring is...Read More
Frozen in Place “For Sale” Signs Given the still-slow pace of new listings this Spring, you might guess that the lead time to have a “For Sale” sign installed would be unusually short. Wrong. It turns out that, due to this year’s unusually cold winter — there’ve now been 50(!) nights below zero in the...Read More
“You Mean, the Bank Can RAISE The Price After the Seller Has Signed the Purchase Agreement?!?” (Yup, That’s What I Mean) After a couple HUGE years for short sales, they’re now receding as a factor in today’s housing market. According to City Lakes’ resident short sale expert, Jim Kantorowicz, there are two reasons for that:...Read More
“Let’s Go Kill Build Something!” Substitute “build” for “kill,” and you’ve got a pretty succinct explanation for today’s (very) robust market for new construction. Namely, with the economy recovering (at least for many consumers) and housing inventory continuing to scrape record lows, Buyers with the means are throwing in the towel waiting for their dream home...Read More
