Effect on Property Values More Complicated Than You’d Guess So, how big a premium do homes in stellar school districts fetch? Conversely, how much of a discount is baked into the price of homes in poorly regarded school districts? Two Sides of Same Coin Step #1 is to realize that one size doesn’t fit all — that...Read More
Man Bites Dog ” Real Estate Edition One of the odder anecdotes from a continuing ed class the other week was the hapless home seller who got sued not because their house was haunted ” but because it wasn’t. Apparently, the Seller had disclosed in their Minnesota Seller’s Disclosure that the home had experienced “paranormal activity.”...Read More
“YIMBY” sounds like it’s an updated version of “Yippie,” the ’60’s counter-cultural movement. In fact, it’s the (inevitable?) backlash to NIMBY, short for “Not in My Backyard” (replace the “N” with a “Y” for “Yes”). YIMBY’s proponents argue that stratospheric Bay Area housing prices are ultimately explained by too little supply, thanks to politics. Ergo,...Read More
Monetizing a Mother-in-Law Apartment (Maybe) Are Twin Cities homeowners renting out their homes and extra bedrooms on Airbnb? Undoubtedly. In their capacity as listing agent (representing the Seller), should Realtors be touting a home’s (short-term) rental potential? I’m not so sure. Municipal Zoning That’s because I have no idea what local zoning codes say about weekly or...Read More
Tax Assessed Value: $15 Million; Market Value: ??? Where: 3701 Wayzata Blvd. near border of Minneapolis, Golden Valley, and St. Louis Park. What: Nine-story, 400,000 square foot office building and 24 surrounding acres in an unparalleled setting close to city lakes, 394, and downtown Minneapolis. Who: owned by Target. When: for sale this Fall. How...Read More
1) Bigger Garage; 2) Attached (vs. Detached); 3) No More Shared Shoveling If you’re a developer who just bought a dated, undersized tear-down on a small(er) city lot, what do you do? To maximize profit, you want to build as big as possible, consistent with city zoning and setback requirements. However, if you overdo it,...Read More
