High Demand Location Close to Lakes, Parks & Downtown Minneapolis Once upon a time — like, 1980 — there were about 50 ramblers on large lots in St. Louis Park’s Fern Hill neighborhood. Today? I’d estimate that there are only about 30 left — make that, 29 after the recent bulldozing of 2512 Inglewood (photo,...Read More
The $1.990 Million Potential Tear-down in Edina’s Parkwood Knolls Neighborhood One of the biggest misconceptions in residential real estate is that, to be a teardown, a home must first be falling down. Hardly. All “tear-down” means is that the home is less valuable than the land underneath it. That can be the case for at...Read More
Adding Value by (Sub)Dividing Given the combination of an (over)heated Twin Cities housing market; high demand for new construction; and housing stock which can be functionally obsolete if not in disrepair, it should be no surprise that there are plenty of local homes that are worth less than the land underneath them. That’s especially so...Read More
List Price Multiple Choice This is a two-parter. Question #1: The list price for this Twin Cities 4 BR/2 Bath 1950’s rambler — new on the market last Friday (3/24) — is . . . A. $219,900k B. $299,900 C. $425,000 D. $619,900 Answer: “D.” Question #2: the reason it’s likely to get that amount...Read More
Stuck in the Middle: the Plight of the “Near Tear-Down” While Twin Cites developers — and their clients — are once again on the prowl for tear-downs, unfortunately for would-be Sellers of such homes, not everything qualifies. In particular, a great many homes fall into a broad gray area, where they’re too expensive for many...Read More
Minneapolis Moratorium on Redevelopment “Ex post facto law” (Latin for “from after the action” or “after the facts”): also called a retroactive law, is a law that retroactively changes the legal consequences (or status) of actions that were committed, or relationships that existed, before the enactment of the law. –Wikipedia [Editor’s Note: see also the...Read More
