Robert Guthridge's Blog

I love getting tips from Uber drivers especially when it comes to buying real estate.  We are now back at that level where real estate can do no wrong, the house humpers are confusing luck with investment acumen, and of course the sheep dive in head first at the most frothy time.  It is clear […] from RSSMix.com Mix ID 8230700 http://ift.tt/2sXAAqJ via IFTTT

Hope you’ve got relaxing plans for the long Holiday weekend. Even better:  no plans at all. from RSSMix.com Mix ID 8230700 http://ift.tt/2svvBM4 via IFTTT

This video is part of the SFhotlist Monthly Market Update Video Series . Each week, we provide you with a short video with updated information about San Francisco real estate and the neighborhoods you love. Let us know if there is something specific you’d like to know. Bernal Heights Real Estate Market Update – May 2017 Welcome to May’s Bernal Heights Real Estate Market Update. The number of active listings was down 9% from one year earlier and down 35% from the previous month. As you can see, the median listing price for the month was just under $1.3 million, while the median sales price was just over $1.5 million. Compared to last year, the average number of days that units spent on the market before being sold was down 16%. The number of units sold decreased 18% year-over-year and decreased 5% month-over-month. The Take Home Number of active listings: Down 9% year-over-year Number of active listings: Down 35% month-over-month Median listing price: $1.29 million Average num...

As a real estate agent, I constantly receive emails from fake title companies asking me to open an attachment. I also receive emails from fake agents or buyers asking me to open attachments . I am usually smart enough to spot the fakes, but some can seem very real or even appear to be from someone I know. It is pretty easy for someone to get hacked through their email, and being hacked is not a pleasant experience. On today’s episode of the InvestFourMore Real Estate Podcast I talk with Idan Udi-Edry, who is the CEO of Trustify. Trustify is The post Podcast 107: Why the Real Estate Industry Is Targeted by Hackers with Idan Udi-Edry appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2urNsFr via IFTTT

Realtor Humor Under the category, “you know you’re spending too much time at work — Realtor version”:  when a colleague mentions a new program called “The Bachelorette,” and you immediately think she’s referring to a loan program (if you didn’t know, there are hundreds of these, covering everyone from first-time buyers to veterans to the credit-impaired to doctors doing their residencies). So I made the logical (to me) leap that some lender was now targeting single professional women (for all I know, there is). Instead, my colleague was referring to the TV program , “The Bachelorette . . .” from RSSMix.com Mix ID 8230700 http://ift.tt/2tol4qJ via IFTTT

The “I Decline to Initial” Buyer’s Initial Form :  “Agency Relationships in Real Estate Transactions” Date signed by Buyer :  June 22, 2017 Form :  Purchase Agreement Date signed by Buyer :  January 21, 2017 What’s wrong with this picture? It runs afoul of Minnesota Department of Commerce guidelines, which provide that prospective Buyers’ agents are supposed to discuss the different kinds of Agency Relationships that are possible between Realtors and their clients, at the point the “first substantive contact” occurs. In practice, that’s defined to mean when the prospective client first discusses their price, terms, or motivation. You Want Me to Sign What?? Common sense suggests that that happens more than 10 minutes before the Buyer asks the agent to help them draft a Purchase Agreement. The catch for agents is that many prospective clients balk at signing anything early in the relationship. In that case, savvy agents elicit the client’s initials to the e...

New Document Distribution Model:  “Come & Get It” “Ransomware Attack Raises Concerns Over Future Assaults” –Headline, The NYT (June 28, 2017). Both professionally (as a Realtor) and as an investor (401k, etc.), it’s apparent to me how big organizations intend to safeguard valuable information from increasingly aggressive and sophisticated hackers. Step #1:  lock it up in a very secure (online) vault.** Step #2:  tightly control access. Clickbait So, forget about emailing anything as an attachment anymore:  way too insecure. Cyber-thieves can readily intercept such communications, booby-trap them (via bad links and attachments), or even mimic them (the definition of “phishing”). Instead, legitimate customers will be notified via email or even text that a document is ready for them to view or retrieve online. To access it, they must then input a password and other identifying info that are much more difficult to hack. **Customers of Edin...

People love living in San Francisco — despite being the smallest county in California, San Francisco also happens to be the most densely populated. This famous city is known for being a cultural, financial, and commercial hub rich in history. San Francisco is a great tourist destination, and in 2016, it ranked high in the world liveability rankings. Of course, there are the numerous attractions — such as Alcatraz, Coit Tower, the Golden Gate Bridge, and Fisherman’s Wharf — that draw tourists from all over the world, but living in San Francisco offers so much more than that. Curious to know what makes living in San Francisco so great? As top San Francisco real estate agents, Danielle Lazier and Partners, in collaboration with Compass San Francisco, have learned a thing or two from helping people buy and sell homes in San Francisco. In no particular order (because how could we possible choose?) here are ten reasons why investing in San Francisco real estate is a good idea: #10 San Fran...

Realtor Pet Peeves:  When Less is More Once an editor, always an editor (in my case, heading the venerable St. Louis Park high school newspaper, the Echo, a long time ago). These days, the object of my ire is fellow Realtors and their (occasionally) less than efficient marketing verbiage. In that vein . . . instead of saying, “situated close to,” how about “close to” or simply “near?” from RSSMix.com Mix ID 8230700 http://ift.tt/2s2TpHU via IFTTT

Recently, one of my favorite online financial gurus, Grant Cardone,  put out a video  that exclaimed, “Buying a house is for suckers!” Before that, he wrote here  on  Entrepreneur  that, “Unless you have 20 million bucks in the bank, in cash, you have no business buying a house.” It’s not the first time I’ve heard him say this, nor is he the only financial guru peddling this message today. Author James Altucher  has described  time and time again how he’s refused to own a house. Remit Sethi, the blogger behind the  I Can Teach You to Be Rich  brand, often  cautions readers  to be wary of buying real estate. Even Robert Kiyosaki, author of  Rich Dad Poor Dad , has become famous for informing the public that a home is a liability, not an asset. Related:   An Investor Answers: “Should I Buy a House for Myself or Purchase an Investment Property?” Yet, for the majority of Americans, home ownership is clearly a p...

No matter how well rental properties are managed, bad tenants will trash them. There are many things a landlord can do to decrease the risk of damage, but the longer you own a rental, and the more rentals you own, the better chance there is for a bad experience. I have had a couple of bad experiences just this year. We do quite a bit to screen tenants, and we check up on the properties and keep them maintained. However, tenants sometimes have major problems that make them stop taking care of the property. They could also be mad at The post How Often Do Tenants Trash Rental Properties? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tkAJb1 via IFTTT

I love getting tips from Uber drivers especially when it comes to buying real estate.  We are now back at that level where real estate can do no wrong, the house humpers are confusing luck with investment acumen, and of course the sheep dive in head first at the most frothy time.  It is clear […] from RSSMix.com Mix ID 8230700 http://ift.tt/2sXAAqJ via IFTTT

Financial Due Diligence for Home Sellers (and Their Agents) As a former corporate attorney and CPA, one of my strengths selling real estate is helping Sellers “vet” the Buyer’s finances. Before they get to closing. In a nutshell, it comes down to this:  “Can the prospective Buyer financially perform?” (legalese for “can they afford the property in question?”). In turn, that question splits into two parts:  1) will a bank lend them the money to buy it?; or 2) do they already have the money in hand (or more accurately, liquid assets)? In turn (last one, I promise) . . . whether a bank will finance a particular deal breaks down into this two-parter:  a) will the home appraise?; and b) is the Buyer sufficiently creditworthy? (based on their credit scores, income, balance sheet, employment history, etc. — and verification of same). Congratulations! You’re now ready for your real estate licensing exam (or at least the legal/financial part). “Proof...

Not Just Twin Citians’ Imagination Summer in the Upper Midwest can seem cruelly short, and it’s not just because late June temps can dip into the 40’s overnight (the case now). It’s because the official beginning of Summer (the solstice, on June 21) arrives scarcely two weeks before the traditional mid-point (July 4). In fact, given that the 4th falls on a Tuesday this year, you’d expect the long 4th of July weekend to start Friday, June 30 or even earlier for some folks . . . P.S.:  Lots of recent cloudy weather also obscures the very late sundown, now past 9 p.m. locally. from RSSMix.com Mix ID 8230700 http://ift.tt/2t7BNhY via IFTTT

New & Improved (& Bigger!) Once upon a time, the only kind of banner ad was . . . a real, live banner (usually made out of weather-resistant nylon). With the advent of the Internet, banner ads took on a new, digital meaning:  a horizontal ad spanning the top of your computer screen. Starting this Spring, I’ve seen a new-and-improved (namely, bigger) version of the original banner ad popping up in front of weekend Twin Cities open houses (pictured at left). Do they work? Doing a showing up the street on a recent Sunday afternoon, the sign prompted me and my clients to stop and take a quick look. from RSSMix.com Mix ID 8230700 http://ift.tt/2s09i5O via IFTTT

Schizophrenic Politics, Schizophrenic Language It turns out that it’s not just modern American politics that is increasingly schizophrenic. So is our language. Exhibit A:  the two, diametrically opposite meanings of the statement, “That investigation is going nowhere ” ( as in , the investigation into Russian collusion in the 2016 Presidential election, and whether Trump obstructed it). Definition #1: “not making progress.” For example, “The research is going nowhere.” Definition #2: “constant in existence or support.” Examples include: –“You know you can count on me. I’m not going anywhere” (= I’m here to help and support you). –“The job is yours when you want it; it’s not going anywhere .” See what I mean?? See also , “ Canadian Quirks: What’s the Opposite of ‘Tabling’ Something? ‘Tabling’ Something.” from RSSMix.com Mix ID 8230700 http://ift.tt/2rZAkuh via IFTTT

Buyer’s Inspection Timetable:  From “5-2-1” to “10 Days” I don’t know about jury verdicts, but as a listing agent representing Sellers, hearing from the Buyer’s agent immediately after the home inspection is almost invariably bad. The usual explanation:  the inspection turned up one or more deal breakers, and the Buyer is canceling. That said, waiting too long  to hear from the Buyer ain’t so great, either. Waiting 9 Days (!?!) Instead of 2 Until last year, the Buyer’s inspection was divided into three intervals:  1) how long the Buyer had to do the physical inspection; 2) how long the Buyer had, post-inspection, to deliver a written list of issues to the Seller; and 3) how long the Buyer and Seller had to resolve any issues raised in step #2. Under that system, the most Sellers had to wait to hear from the Buyer once the inspection was done was typically two days. While simpler in many respects, the new “all-in” single deadline potentially allows a much...

Listing Agent to Buyers’ Agents:  “The Seller is Looking at an Offer Tomorrow Night at 7 p.m.” [ Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] When the listing agent tells interested parties that the Seller is “looking at an offer tomorrow at 7 p.m.,” how many offers is it likely that the Seller has received? A. None. B. One. C. Several (perhaps more than 4-5). D. No way to tell. Answer :  “ C.,” but credit also given for “D.” Of course, to have a better idea, it would be important to know how long the home has been for sale; where it is; and whether it’s well-priced and marketed (or not, as the case may be). Pulling Their Punches Want a sure sign that rampant multiple offers are wearing out Twin Cities home Buyers? Depending on the circumstances, at least some T...

Keeping the Listing Fresh** As a Buyer’s agent, I know an (almost) surefire way to get recalcitrant clients to buy:  head to the airport.  See , “ Want Buyers to Buy? Head to the Airport.” What’s the equivalent for listing agents (representing Sellers)? Update the home’s photos (a necessity in Minnesota’s fast-changing, extreme climate). Keeping Up the (Sales) Pressure I can’t recall the number of times where, no sooner than I’ve arranged (and paid for) a re-shoot then . . . the home’s under contract! I’m guessing other (good) agents can relate. The not-so-coincidental explanation:  the same agents who take care to make sure a home’s marketing photos are current are also vigilant about keeping the listing fresh generally. That means staying in front of Buyers and their agents (at weekly Realtor meetings, via online networking, through blast emails, etc.); periodically tweaking the marketing verbiage on MLS and elsewhere; shuffling photos on MLS to highli...

Last year (2015) was a pretty slow year for real estate investing for me. I  flipped a house  and bought a primary residence for myself, but other than that, I was so busy with a hundred other things — like managing the properties I already own, taking a road trip around the entire USA, and writing  The Book on Rental Property Investing  —  that buying  new  properties got pushed to the back. However, this year I decided  things were going to be different. So this year I’ve already purchased seven units, flipped two houses, I have four more units under contract to close soon, and we’re just nine months through the year! Best of all, these properties will add around $150,000 to my net worth and over $2,000 a month to my passive income. So how did I  10x my results  this year compared to last? Well, today I want to share with you the four fundamental choices I made in my life that helped me 10x my real estat...

Financial Due Diligence for Home Sellers (and Their Agents) As a former corporate attorney and CPA, one of my strengths selling real estate is helping Sellers “vet” the Buyer’s finances. Before they get to closing. In a nutshell, it comes down to this:  “Can the prospective Buyer financially perform?” (legalese for “can they afford the property in question?”). In turn, that question splits into two parts:  1) will a bank lend them the money to buy it?; or 2) do they already have the money in hand (or more accurately, liquid assets)? In turn (last one, I promise) . . . whether a bank will finance a particular deal breaks down into this two-parter:  a) will the home appraise?; and b) is the Buyer sufficiently creditworthy? (based on their credit scores, income, balance sheet, employment history, etc. — and verification of same). Congratulations! You’re now ready for your real estate licensing exam (or at least the legal/financial part). “Proof...

Not Just Twin Citians’ Imagination Summer in the Upper Midwest can seem cruelly short, and it’s not just because late June temps can dip into the 40’s overnight (the case now). It’s because the official beginning of Summer (the solstice, on June 21) arrives scarcely two weeks before the traditional mid-point (July 4). In fact, given that the 4th falls on a Tuesday this year, you’d expect the long 4th of July weekend to start Friday, June 30 or even earlier for some folks . . . P.S.:  Lots of recent cloudy weather also obscures the very late sundown, now past 9 p.m. locally. from RSSMix.com Mix ID 8230700 http://ift.tt/2t7BNhY via IFTTT

New & Improved (& Bigger!) Once upon a time, the only kind of banner ad was . . . a real, live banner (usually made out of weather-resistant nylon). With the advent of the Internet, banner ads took on a new meaning:  a horizontal (online) ad spanning the top of your computer screen. Starting this Spring, I’ve seen a new-and-improved (namely, bigger) version of the original banner ad popping up in front of Twin Cities open houses (pictured above). Do they work? Doing a showing up the street on a recent Sunday afternoon, the sign prompted me and my clients to stop and take a quick look. from RSSMix.com Mix ID 8230700 http://ift.tt/2s09i5O via IFTTT

Schizophrenic Politics, Schizophrenic Language It turns out that it’s not just modern American politics that is increasingly schizophrenic. Our language is, too. Exhibit A:  the two, diametrically opposite meanings of the statement, “That investigation is going nowhere ” ( as in , the investigation into Russian collusion in the 2016 Presidential election, and Trump’s obstructing same). Definition #1:  “not making progress.” For example, “The research is going nowhere” (= the research is not making progress). Definition #2:   “constant in existence or support.” Examples include: –“You know you can count on me. I’m not going anywhere” (= I’m here to help and support you). –“The job is yours when you want it; it’s not going anywhere .” See what I mean?? See also , “ Canadian Quirks: What’s the Opposite of ‘Tabling’ Something? ‘Tabling’ Something.” from RSSMix.com Mix ID 8230700 http://ift.tt/2rZAkuh via IFTTT

There’s a reason why Glen Park real estate is in high demand! A primarily residential neighborhood, Glen Park offers a seemingly effortless small town vibe while still close in proximity to the hustle and bustle of city life. Nestled in the southeastern edge of the San Francisco hills, this quaint yet flourishing community is home to approximately seven thousand residents. Access to Anywhere Aside from Glen Park’s real estate charm, the neighborhood also offers a multitude of facets that residents routinely utilize. Public transportation ranging from Muni Metro to the BART, getting around has been made effortless and efficient since its implementation in the early 1900’s. This gives residents a hassle free advantage of commuting wherever it is in San Francisco that they so desire. Close-Knit Community Glen Park prides itself in being a amicable and close knit community. Mom-and-pop shops create a local focus within the area, helping to foster neighborly relationships between the re...

Buyer’s Inspection Timetable:  From “5-2-1” to “10 Days” I don’t know about jury verdicts, but as a listing agent representing Sellers, hearing from the Buyer’s agent immediately following the home inspection is almost invariably bad. The usual explanation:  the inspection turned up one or more deal breakers, and the Buyer is canceling. That said, waiting too long  to hear from the Buyer ain’t so great, either. Waiting 9 Days (!?!) Instead of 2 Until last year, the Buyer’s inspection was divided into three intervals:  1) how long the Buyer had to do the physical inspection; 2) how long the Buyer had, post-inspection, to deliver a written list of issues to the Seller; and 3) how long the Buyer and Seller had to resolve any issues raised in step #2. Under that system, the most Sellers had to wait to hear from the Buyer once the inspection was done was typically two days. While simpler in many respects, the new “all-in” single deadline potentially allows a ...

Listing Agent to Buyers’ Agents:  “The Seller is Looking at an Offer Tomorrow Night at 7 p.m.” [ Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] When the listing agent tells interested parties that the Seller is “looking at an offer tomorrow at 7 p.m.,” how many offers is it likely that the Seller has received? A. None. B. One. C. Several (perhaps more than 4-5). D. No way to tell. Answer :  “ C.,” but credit also given for “D.” Of course, to have a better idea, it would be important to know how long the home has been for sale; where it is; and whether it’s well-priced and marketed (or not, as the case may be). Pulling Their Punches Want a sure sign that rampant multiple offers are wearing out Twin Cities home Buyers? Depending on the circumstances, at least some T...

Real estate has some amazing tax advantages, but when you sell a property, you can still end up paying a lot to the IRS. Owning rental properties allows you to depreciate the structure of the property, but when you sell, you may have to repay that tax savings. 1031 exchanges can be a way to defer the taxes, but they come with many restrictions. 1031 exchanges cannot usually be used when you flip houses either. Bruce Jones, with TaxWealth, is an expert on real estate taxes and joins me on this episode of the InvestFourMore Real Estate Podcast to discuss The post Podcast 106: How to Reduce Capital Gains Taxes without a 1031 Exchange Featuring Bruce Jones appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2rSoh1C via IFTTT

Keeping the Listing Fresh** As a Buyer’s agent, I know an (almost) surefire way to get recalcitrant clients to buy:  head to the airport.  See , “ Want Buyers to Buy? Head to the Airport.” What’s the equivalent for listing agents (representing Sellers)? Update the home’s photos (a necessity in Minnesota’s fast-changing, extreme climate). Keeping Up the (Sales) Pressure I can’t recall the number of times where, no sooner than I’ve arranged (and paid for) a re-shoot . . . the home’s under contract! I’m guessing other (good) agents can relate. The not-so-coincidental explanation:  the same agents who take care to make sure a home’s marketing photos are current are also vigilant about keeping the listing fresh generally. That means staying in front of Buyers and their agents (at weekly Realtor meetings, via online networking, through blast emails, etc.); periodically tweaking the marketing verbiage on MLS and elsewhere; shuffling photos on MLS to highlight d...

Sleazy Realtor Ads, or, “Sorry, But Not THAT Sorry” According to my Realtor grapevine, at least a few Twin Cities homeowners are being solicited — immediately after the death of a loved one — by, to put it mildly . . . aggressive Realtors seeking their business. The apparent source of the lead? Government (death) records, published obituaries, and the like. All together now:  “ U-g-g-h-h!!” “Offensive” Marketing (in Both Senses) I’d argue that such marketing is not only in extremely bad taste, it’s dumb from a business vantage point, for these three reasons: One . Whomever receives such an overture is very likely to be so appalled they’ll never use such an agent (or at least, you’d hope**). Two . More practically, the last thing grieving family members are capable of handling in the wake of a death is a major business transaction. At least in this former attorney’s mind, it raises the moral if not legal question of mental capacity (a requirement for a vali...

“Force Majeure” Clauses [ Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] RISK OF LOSS:  If there is any loss or damage to the Property between the Final Acceptance Date and the date of closing for any reason, including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller.  If the property is destroyed or substantially damaged before the closing date, this Purchase Agreement is canceled, at Buyer’s option, by written notice to Seller or licensee representing or assisting Seller.  If Buyer cancels this Purchase Agreement, Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid here to be refunded to Buyer. –Minnesota Purchase Agreement, lines 168. – 173. In the wake of seve...

Last year (2015) was a pretty slow year for real estate investing for me. I  flipped a house  and bought a primary residence for myself, but other than that, I was so busy with a hundred other things — like managing the properties I already own, taking a road trip around the entire USA, and writing  The Book on Rental Property Investing  —  that buying  new  properties got pushed to the back. However, this year I decided  things were going to be different. So this year I’ve already purchased seven units, flipped two houses, I have four more units under contract to close soon, and we’re just nine months through the year! Best of all, these properties will add around $150,000 to my net worth and over $2,000 a month to my passive income. So how did I  10x my results  this year compared to last? Well, today I want to share with you the four fundamental choices I made in my life that helped me 10x my real estat...

San Francisco real estate is deep into a tech driven mania.  Home prices in the Bay Area are comically out of reach for most families and people are getting squeezed out like ketchup in a disposable packet.  What seemed like a new peak was once again surpassed.  The housing market is running on massive fumes […] from RSSMix.com Mix ID 8230700 http://ift.tt/2sMx6uc via IFTTT

Many people feel that buying houses is risky. You could lose your job, you could have a medical issue, or you could suffer some other financial hardship that will prevent you from making payments. You could then lose your house to foreclosure and have a huge financial mess. However, renting a house may be even riskier. When you buy a house, you have control of the property and know what the mortgage payments will be. When you rent, you have no control and could find yourself paying more and more while also having to constantly move. What are the risks The post Why Renting a House Is Riskier than Buying appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2sHIVRx via IFTTT

Cost-Effective Repair or Merely Desirable One? Just because every house problem (save for location * ) can be fixed, doesn’t mean it will be. That’s often true for poorly conceived floor plans; functional obsolescence (one hall Bath serving four upstairs Bedrooms); and underwhelming curb appeal. In each case, the fix can easily run into six figures — money that no owner would intelligently invest, if only because they’d never recoup it on sale. Deal Breaker?  Not for the Next Owner Of course, by definition, it’s also the case that such homes attract owners who are less bothered by these shortcomings than others might be. Prospective Buyers may even be grateful  that the home has one or more flaws that are deal breakers for some. That’s because such a home will very likely have to be (deeply) discounted, resulting in a lower purchase price (and more affordable monthly payments). Subtle Settling In a nutshell, that’s my “crystal ball” for a very nice Minnetonk...

Conspicuously Missing Term:  Asking Price One of the more confusing contracts in residential real estate is what’s called a “One Time Showing Contract.” As you might guess, unlike a Listing Contract, which allows the Realtor to market a home to the world, a One Time Showing Contract contemplates a deal with exactly one prospective Buyer. Key Terms In addition to naming the Buyer, the contract typically lists the agent and broker coordinating the one-time showing; the contract term (one year is standard); the commission the Seller will pay if a deal results; and who the Seller will use for closing. Notably missing? An asking price. Non-Binding on Seller The explanation is that the asking price — along with other key terms like the closing date, earnest money, and inspection scope and timetable — are governed by the Purchase Agreement and Addenda. If the prospective Buyer ultimately makes an offer, and the Seller doesn’t like the...

Waiting (and Waiting) For the “Perfect” Home** Every veteran Realtor at one point has them:  Buyers who are looking for a home — just, shall we say . . . very casually. Which is fine and good:  the only timetable that matters in real estate sales is the client’s. Plus, as I like to tell prospective Buyers and Sellers, I need closed sales next year (and the year after) just as much as I need them this year. How Motivated? Where problems result is if the Buyer and their agent are on different burners er , pages. Here are the four scenarios: One . “Front Burner” search for both Buyer and their agent:  the simplest, most common scenario. The Buyer is motivated; knows the relevant slice of the housing market they’re interested in; and is ready, willing, and able to write a credible offer if something that meets their (realistic) criteria becomes available. Meanwhile, their Realtor has multiple, saved searches reflecting the Buyer’s criteria; is active...

Why Didn’t the Home Sell?? “We finished last with you, we can finish last without you.” –Pirate general manager Branch Rickey to slugger Ralph Kiner, explaining why he decided to trade him. The usual scenario with For Sale By Owner Homes (known in the industry as “FSBO’s”) is a homeowner who initially tries to sell their home themselves, then throws in the towel and hires an agent when they discover that it’s more difficult, time-consuming, etc. than they thought. Statistically, that’s the fate of something like +85% of all FSBO’s. Which leaves the other , much less common kind of FSBO:  a homeowner who opts to go it alone after being represented by an agent, who failed to sell their home. The owner’s logic? The same as Branch Rickey’s, presumably. (Mis)Diagnosing the Problem Will that fix things? It could , if the sole problem was the agent’s (lack of) skill. In my experience, though, it’s usually a blend of a not-so-hot agent and an unrealist...

Should Buyers and Sellers Waive Arbitration? Hopefully, It’s a Moot Point [Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] Unbeknownst to most home buyers and sellers, modern residential real estate deals — at least in Minnesota — have three , separate arbitration provisions: One . Between the Buyer and Seller. Two . Between the Buyer or Seller, and their agent (more accurately, the agent’s Broker). Three . Between the Buyer or Seller and their title company. Arbitration vs. Litigation Normally, however, when people think about arbitration in the context of residential real estate, they’re usually referring to the first type. My standard counsel to clients:  whether Buyers and Sellers agree to waive arbitration or not is usually a moot point, if both parties do what they’re suppose...

Naturally Occurring Shapes — and Numbers Supposedly, there’s no such thing as a naturally-occurring perfect square or rectangle (vs., say , a sphere). Similarly, I’d venture that there’s no such thing as a house that’s worth exactly $500,000 or $1 million. The Lure of Round Numbers So, why does it seem that an inordinate number of homes are priced at $500,000 instead of $519,900 — or, more realistically, $479,900? I attribute it mainly to the lure of round numbers. Sort of like gravity, century marks — and particularly big ones like $500k and $1M — exert a strong psychological pull on home Buyers and Sellers. As a result, homes that are in the general vicinity of those numbers sometimes stretch for the “marquee” number. Overlapping Searches Reason #2 Sellers often pick round numbers:  they know that Buyers frequently search in increments of $50k to $100k. So, common price ranges are “$450k – $500k”; “$500k – $600k”; and “$500k – $550k.”...

If you’re like Danielle Lazier + Partners, as soon as summer hits, all you want to do is go outside and indulge in summer activities. Even though San Francisco doesn’t have the weather for it, we still look for every excuse in the book to get out and shake things up. Since every neighborhood in San Francisco has its own flavor and style, we’ve put together a handy list of the best neighborhoods for San Francisco summer festivals. 1. The Fillmore Summer Festivals The Fillmore is the best neighborhood for San Francisco summer festivals and is our #1 pick. This area is actually a blend of the Western Addition and Pacific Heights neighborhoods. The Western Addition was the first multicultural neighborhood in San Francisco, which is why it is currently one of the most vibrant, diverse neighborhoods in the city. The Fillmore has a rich black heritage and music history and was known for its bustling jazz scene. The Fillmore is home to several restaurants and entertainment hot spots, with J...