Housing Market, 2011 vs. 2013 I’m sure I’m not the only veteran Twin Cities Realtor who lost — at least temporarily — a prospective Seller sometime in the last 18-24 months relaying unwelcome housing market news. When I delivered the shocking — but accurate — information about prevailing prices at the time, the reaction I...Read More
(Too) Great Expectations After the longest — and most severe — housing downturn in most people’s lives (those under 80, anyways), real estate is finally on the mend. In most markets nationally, prices are rising, short sales and foreclosures are down, and interest rates are still in the cellar. What’s not to like? For Realtors,...Read More
Guess #2: How Much? Owner’s suite w/Large Bath & Walk-in Closet. Open Floor Plan w/9′ Ceilings. Granite/Stainless Kitchen w/Undermount Sink/Peninsula. Barrel Ceiling. –Excerpt, MLS Listing Based on the accmpanying photos and marketing language (above), guess where this new single family home with 4 Bedrooms and 3 Baths is located: A. Linden Hills in Southwest Minneapolis; B. ...Read More
Lots of would-be Sellers this time of year wrestle with when to list their home — or whether to take their home off the market, if it’s already on. Sellers know (or should) that market time is their enemy. They also know that Buyer activity slows down over the holidays. Yet, as I like to...Read More
Key Statistics — and Vacant Sites — To Watch When the economy comes back, where will Twin Cities developers pick up? Most likely, where they left off when the recession and downturn arrived. –Ross Kaplan, “Bare Ground — For Now“; City Lakes Real Estate Blog (2/9/2010) In a post earlier this month titled, “Halftime at...Read More
“After You” . . . “No, After You” . . . “No, After You” Combine tight inventory in many Twin Cities neighborhoods with frustrated Buyers, and what do you get? Multiple buyers chasing the same property, including some making offers with what Realtors call an “asterisk clause.” Background For the uninitiated, a Buyer employing an “asterisk clause”...Read More
