Real Estate as a Haven Conventional wisdom to date has been that a rocky stock market bodes poorly for upper bracket housing. That’s because, compared to other Buyers, upper bracket Buyers presumably have more exposure to stocks. When stocks take a hit, so does their purchasing power. Witnessing the latest stock market gyrations, I’m wondering...Read More
Realtor Dress Code Upgrade? No, I’m not seeing any Realtors don formal wear (like tuxedo’s) just yet. But there do seem to be more men wearing ties and sports coats lately, and women wearing fancy scarves and the like. What’s going on? “Dress for Success” I’d guess a couple things: –Older, more established Realtors are...Read More
Two Bullets Would-be Sellers of upper brackets homes now — the slowest part of today’s housing market — often have to bite not one but two bullets. The first is pricing their home consistently with “the comp’s”: similar, nearby homes that have sold recently. In fact, better than the comp’s, depending on what’s currently active...Read More
“Jilting” Buyer #1 for Buyer #2 Topic A at this morning’s Exceptional Properties meeting was how to handle a deal that’s been verbally signed off on, when another, significantly stronger offer materializes before all the necessary signatures are in place. The scenario’s relevant because, in today’s slower market for upper bracket homes, by the time...Read More
Great Price + Seller-Paid Pts. = No Deal? We may be small, but we’re slow. –Cal Tech football team slogan If you’re a Buyer contemplating an offer on an upper bracket Twin Cities home, congratulations! You’ve never had more choices — or more eager Sellers. Just one word of caution, though: Decide whether you want...Read More
“The Bigger They Are, the Slower They Sell” That’s from an article in today’s Wall Street Journal titled, “High-End Homes Frozen Out of Budding Housing Rebound” (8/3/09). The thrust of the article — which I agree with — is that the lower rungs of the housing market are now stable if not recovering, while the...Read More
