Addicted to (Spoiled By?) Ultra-Low Interest Rates Two years ago, when the shortage of housing inventory in the Twin Cities first became apparent, the leading theory was that underwater homeowners literally couldn’t afford to sell.* Now that local housing prices have rebounded significantly, that theory . . . umm, holds less water. With current Twin Cities housing inventory the...Read More
Real Estate Math I showed clients an upper bracket Edina home yesterday that’s been languishing on the market — at ever-lower prices — for 3(!) years. The reason(s) became apparent literally 10 steps in the door: every square foot of the very large home needs updating (the online photos nicely camouflaged that). Given the home’s...Read More
Sign of Things to Come I encountered my first ice dam contractor this winter earlier today, at a home I was previewing for clients. But, I’m sure it won’t be my last. Given the cold temp’s and abundant snowfall this Winter, lots of Twin Cities homeowners are probably candidates to have their roofs steamed between...Read More
Why Metro-Wide Housing Prices Are Meaningless; “A Tale of Two Cities Minneapolis Neighborhoods” “It’s not a stock market. It’s a market of stocks.” –old saying “The housing recovery is real and sustained in the metro area, turning a buyer’s market into a seller’s market. But while some neighborhoods soar, others suffer.” –“Inside Twin Cities Housing...Read More
Now, THAT’s a Deal! “An overpriced “For Sale” home depreciates in value faster than an appreciating housing market rises.” —Ross Kaplan, first law of real estate; “Market Appreciation vs. Home Depreciation” (10/23/2013) Here’s a news flash for at least some prospective home Sellers: even in a Seller’s market like today’s, not everything sells right away,...Read More
In general, I’m a HUGE fan of bay windows: there’s no better way to open up a room, admit light, and punch up a home’s curb appeal. But, it has to be the right home. I don’t know for sure, but I’ve got a hunch that the bay window in this 1924 South Minneapolis home...Read More
