Robert Guthridge's Blog

The Homeowner-Spy [ 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.] At least in Minnesota, it’s a crime to intercept a conversation without the permission of at least one party to the conversation. So, no , unless Sellers want to tell Buyers they’re being listened to — which sort of defeats the purpose — it’s not kosher to eavesdrop. Just to make sure Sellers are clear, however, the revised Minnesota listing agreement adds language explicitly warning Sellers about this practice. Effective date:  tomorrow (August 1). P.S.: Notwithstanding any of the above, I’ve long counseled Buyers doing showings with me to save any private comments for later. See also , “ Smile! You’re On Candid Camera!” ; “ Do the Walls Have Ears? Maybe, If They’re in a “For Sale” Home “; and “Shadowing the Buyer and Th...

A recent Forbes article claimed to prove investing in an REIT was better than actually buying real estate. The article made some valid points about the advantages of REITs but left out most of the advantages of buying houses, apartments, or commercial properties. Investing in REITs is much easier than investing in real estate, and I have invested in REITs in the past. With an REIT, you miss out on several things, including the ability to buy below market value, depreciation, control, and better financing options. I no longer invest in REITs because I make so much more from buying houses. The post Are REITs as Good as Buying Real Estate? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tXn3Ub via IFTTT

Hurry Up & Wait, or, Maneuvering for Multiples? A hot, new listing that met all your client’s criteria — location, price, home style & size — just came on the market. You and your client hustled to see the house the same day, then — after reviewing the Comp’s and touching base with their lender — immediately went back to your office to put together an offer. Two hours later, you delivered a (strong) offer to the listing agent, representing the Seller. Then . . . nothing.  How Much Other Interest? Later the next day — an eternity in this kind of situation — the listing agent let you know that, due to an unspecified family emergency, the Seller wouldn’t be able to respond for at least another 24 hours. Which of the following increases the odds that the Seller is acting in good faith, vs. simply stalling to give other Buyers time to see the home: A. The listing agent switches the home’s status to “Temporarily Not Available For Showing” (TNAS). B. The listing agent ca...

You have to love the Orange County bubble.  It is fitting that Disneyland is in Anaheim and actually has some of the poorest households in the entire county.  You have a world of Princesses and fantasy and right in the same city you have topless dancing fulfilling a fantasy of a different sort.  You have […] from RSSMix.com Mix ID 8230700 http://ift.tt/2uRbpHz via IFTTT

The real estate market in Colorado has been crazy. Median prices in my town have jumped from $110,000 to $280,000 within 5 or 6 years. My town has some of the lowest prices in the area! With real estate prices increasing so fast, I decided to stop buying residential rental properties and focus more on flipping. I stopped buying rentals for a number of reasons, but the biggest one was that I could not cash flow on properties anymore, I decided to get some help from Advantage Properties, since they are experts on this. On this episode of the InvestFourMore The post Podcast 111: Should you Invest in a Hot Real Estate Market? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2vQIwvb via IFTTT

This post is provided by Ruth Lyons with InvestorJunkie.com. You’re probably already familiar with the many benefits of real estate investing—especially if you’ve spent much time here on InvestFourMore. Real estate investing is a great way to diversify your portfolio. It can be an effective way to hedge against inflation. And, if done right, it can provide steady streams of income. But maybe there’s still something that’s holding you back from diving in. That’s OK. Not everyone is cut out to be a landlord or a flipper. Deadbeat tenants…leaky toilets at 3 a.m…dealing with contractors on a daily basis…even the thought The post How to Invest in Real Estate without Getting Your Hands Dirty appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2eOb2tj via IFTTT

As long time San Francisco Realtors and residents, we are proud of all that San Francisco offers in terms of outdoor and cultural events. Writing this roundup of the best parks in San Francisco and the city’s summertime recreational opportunities made us want to head out of the office and into the outdoors! Read on to discover more about some of San Francisco’s greatest outdoor assets. Alamo Square Park Famous for its view of the Painted Ladies, the Victorian era homes featured in the opening credits of Full House, Alamo Square’s neighborhood park is an international destination. Beautification projects completed in the spring of 2017 redesigned the twelve acres of historic park space for maximum enjoyment and environmental considerations. Popular on postcards and just as picture perfect for summer picnics, Alamo Square Park offers a dual-level playground for children and an off-leash dog park for the fuzzier members of the family. A full tennis court and walking trails provide ampl...

I talk to a lot of real estate investors through email, Facebook, and in my coaching programs. One of the most common questions is, “how do I get started if I don’t have the money?” There are a lot of gurus who teach real estate is the answer to any financial problem. Real estate can be an awesome way to invest your money and build wealth. It can even be a great way to make a lot of money when you have very little. However, real estate investing is not easy, and if you want to make a lot of The post How to Invest in Real Estate If You Don’t Have the Money appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tvo4OM via IFTTT

The real estate market in Colorado has been crazy. Median prices in my town have jumped from $110,000 to $280,000 within 5 or 6 years. My town has some of the lowest prices in the area! With real estate prices increasing so fast, I decided to stop buying residential rental properties and focus more on flipping. I stopped buying rentals for a number of reasons, but the biggest one was that I could not cash flow on properties anymore, I decided to get some help from Advantage Properties, since they are experts on this. On this episode of the InvestFourMore The post Podcast 111: Should you Invest in a Hot Real Estate Market? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2vQIwvb via IFTTT

This post is provided by Ruth Lyons with InvestorJunkie.com. You’re probably already familiar with the many benefits of real estate investing—especially if you’ve spent much time here on InvestFourMore. Real estate investing is a great way to diversify your portfolio. It can be an effective way to hedge against inflation. And, if done right, it can provide steady streams of income. But maybe there’s still something that’s holding you back from diving in. That’s OK. Not everyone is cut out to be a landlord or a flipper. Deadbeat tenants…leaky toilets at 3 a.m…dealing with contractors on a daily basis…even the thought The post How to Invest in Real Estate without Getting Your Hands Dirty appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2eOb2tj via IFTTT

I talk to a lot of real estate investors through email, Facebook, and in my coaching programs. One of the most common questions is, “how do I get started if I don’t have the money?” There are a lot of gurus who teach real estate is the answer to any financial problem. Real estate can be an awesome way to invest your money and build wealth. It can even be a great way to make a lot of money when you have very little. However, real estate investing is not easy, and if you want to make a lot of The post How to Invest in Real Estate If You Don’t Have the Money appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tvo4OM via IFTTT

[Your Name Here] Award I have no idea for what, or who decided (actually, some organization called “American Registry” emailed this to me, along with a pitch to pay them money). But, it says so in the fine print on a plaque, so it must be right . . . from RSSMix.com Mix ID 8230700 http://ift.tt/2tC3JLT via IFTTT

California homeowners are entering into their geriatric phase.  The share of homes owned by older Californians has grown substantially since 2000.  The Taco Tuesday baby boomer crowd is dominating the ranks of homeowners.  This trend is new and because of key items like Prop 13 and Millennials living with parents, very few homes are turning […] from RSSMix.com Mix ID 8230700 http://ift.tt/2vN09uW via IFTTT

San Francisco waterfront property offers perks you won’t find anywhere else: stunning views, access to bike and hiking trails, challenging but satisfying surf, and wildflowers that bloom all year round. There’s a San Francisco waterfront property that caters to almost any taste, with each neighborhood offering its own flavor of “only in San Francisco.” As top San Francisco Realtors, Danielle Lazier + Associates have an eye for what makes this city unique and how to find the property that best fits your personality and lifestyle… The Best Neighborhoods for San Francisco Waterfront Property San Francisco is a small city that’s made up of even smaller neighborhoods and each has its own set of qualities that caters to different lifestyles. If you’re interested in buying waterfront property or property that is located close to a beach in San Francisco, choose a neighborhood that meets your needs and gives you the type of waterfront experience you want. Below are five of our favorite nei...

Not-So-Subtle Clues Animal biologists who want to understand wild animals’ habitat and diet study their droppings (other names:  “scat,” “poop,” etc.). Fortunately, modern-day parents of teenage kids have an easier option:  examining their kids’ bedroom waste baskets (a very fringe benefit of being my household’s designated garbage collector). I did the other day — and it wasn’t a pretty picture. Effective immediately:  a Kaplan household moratorium on purchased sweets and snacks, and an embargo on imports. from RSSMix.com Mix ID 8230700 http://ift.tt/2veZ8jj via IFTTT

Loss Forecast for Q3 Imagine a company that just reported quarterly sales of $38,000, of which a scant  $197 was actual profit. Imagine further that the company went on to forecast that, while sales would continue to grow, its already skimpy quarterly profit would actually flip to a loss the next (current) quarter. You wouldn’t exactly expect shareholders to jump up and down. Ahhh , but now add six zeroes** to those results, and put the name “Amazon” on the earnings report, and suddenly investors aren’t so disappointed:  after a brief, initial sell-off, company shares dipped less than 3% today. **That comes to quarterly sales of $38 billion and profit of $197 million, respectively. from RSSMix.com Mix ID 8230700 http://ift.tt/2u5I9e2 via IFTTT

Fishing For Sellers, or, Not Offering Consumers What They Think They’re Being Offered No , the agent trolling for new business isn’t offering to tell homeowners (and presumably, prospective Sellers) what their home is worth. Depending on the property’s features, price point, and location, that can take an experienced agent a couple of hours. No, what the agent is really peddling is a property report — generated, I presume, from MLS, and showing recent new listings, sales, pending sales, and expired/cancelled listings. That takes about 20 seconds, and can be done by anyone who has paid MLS’s subscription fee, and knows how to do a basic search. Here’s guessing that, by the time at least a few people realize that, they’ll have already taken the agent’s bait. P.S.:  While I don’t offer free market analyses (also known as “CMA’s” or Comparative Market Analyses), I, too, am happy to generate a free property report, customized for any Twin Cities neighborhood that...

Large Bloomington Rambler on Private, .26 Acre Lot Where :  10616 Upton Ave. South in Bloomington, near Nine Mile Creek. What :  3 BR/2 Bath Rambler with first floor Office/Den and private Master Bath (one-half). How much :  $238,000. When :  on the market next Friday, August 4. Who : listed by Ross Kaplan, Edina Realty – City Lakes. You’ll love this spacious Bloomington Rambler with newly-refinished hardwood floors; three nice-sized BR’s; and a hard-to-find Master Bath (1/2). Other extras:  a main level Office/Den; the oversized two-car Garage with extra storage; and the large, level Backyard — all on a quiet block in a convenient south Bloomington location. Want to add value? The unfinished lower level is perfect for an Amusement Room, Exercise Room, or Guest Bedroom. P.S.: Three blocks away, 10723 Russell Ave. came on the market last Friday (July 21) and immediately sold in multiples offers.  Asking price:  $269,900. While smaller, ...

The real estate market in Colorado has been crazy. Median prices in my town have jumped from $110,000 to $280,000 within 5 or 6 years. My town has some of the lowest prices in the area! With real estate prices increasing so fast, I decided to stop buying residential rental properties and focus more on flipping. I stopped buying rentals for a number of reasons, but the biggest one was that I could not cash flow on properties anymore. On this episode of the InvestFourMore Real Estate Podcast, I talk about the current real estate market, including how crazy it The post Podcast 111: Should you Invest in a Hot Real Estate Market? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2vQIwvb via IFTTT

When Flip Sides of a Coin Aren’t Equal Call me a slow learner (at least on this one). But, I just figured out that — when someone says, “I’ve got some good news and I’ve got some bad news” — the bad news is always way worse than the good news is good. No? P.S.:  Good agents deliver good news to their clients fast — and bad news faster (delaying only makes it worse). See also , “ Splitting the Difference and Other Negotiating Tactics. “ from RSSMix.com Mix ID 8230700 http://ift.tt/2v3cMF3 via IFTTT

California homeowners are entering into their geriatric phase.  The share of homes owned by older Californians has grown substantially since 2000.  The Taco Tuesday baby boomer crowd is dominating the ranks of homeowners.  This trend is new and because of key items like Prop 13 and Millennials living with parents, very few homes are turning […] from RSSMix.com Mix ID 8230700 http://ift.tt/2vN09uW via IFTTT

This post is provided by Ruth Lyons with InvestorJunkie.com. You’re probably already familiar with the many benefits of real estate investing—especially if you’ve spent much time here on InvestFourMore. Real estate investing is a great way to diversify your portfolio. It can be an effective way to hedge against inflation. And, if done right, it can provide steady streams of income. But maybe there’s still something that’s holding you back from diving in. That’s OK. Not everyone is cut out to be a landlord or a flipper. Deadbeat tenants…leaky toilets at 3 a.m…dealing with contractors on a daily basis…even the thought The post How to Invest in Real Estate without Getting Your Hands Dirty appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2eOb2tj via IFTTT

1 Charlie App iOS only Free for 30 days, then $19.99/mo This app will put a smile on your face. With “Charlie,” you’ll enter every meeting with the who, what, when and where background of everyone in the room. The app researches your contacts, in particular, those with whom you’re about to interact with, and […] from RSSMix.com Mix ID 8230700 http://ift.tt/2tZsLA1 via IFTTT

Tying Up Loose Ends & Open Offers Admittedly, there’s usually not much doubt. But if you want absolute, “case-closed” proof that a Buyer’s offer qualifies as a lowball, here it is:  when the Seller rebuffs it*, they never even bother to withdraw it. Either the offered price is so preposterously low they know the Seller will never accept it. Or, in the infinitesimal chance that the Seller actually does sign, the number’s so dirt cheap that the Buyer — any Buyer — would be thrilled with the price. Either way, there’s no risk associated with indefinitely leaving the (open) offer on the table. Time is of Essence (Usually) By contrast, a Buyer who makes a serious offer will only wait so long to hear from the Seller before withdrawing it. After all, what intelligent Buyer would leave their offer out there, day after day, to be shopped or simply ignored, as the case may be? Answer:  no one. While Buyers — at least in Minnesota — seldom include a fo...

I talk to a lot of real estate investors through email, Facebook, and in my coaching programs. One of the most common questions is, “how do I get started if I don’t have the money?” There are a lot of gurus who teach real estate is the answer to any financial problem. Real estate can be an awesome way to invest your money and build wealth. It can even be a great way to make a lot of money when you have very little. However, real estate investing is not easy, and if you want to make a lot of The post How to Invest in Real Estate If You Don’t Have the Money appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tvo4OM via IFTTT

On this episode of the InvestFourMore Podcast, I talk with Jarred Kessler, who is trying to start a company that would eliminate the need for real estate agents. As an agent myself, I’m a big proponent of using agents to make the most money when selling or buying houses. This podcast definitely had some tense moments and differing opinions! After working in the financial-services industry and believing current methods for selling and buying houses have become inefficient and outdated, Jarred started a company called Easy Knock. The idea is that buyers and sellers can use the website to complete transactions The post Podcast 110: Do You Need a Real Estate Agent When Selling or Buying a House with Jarred Kessler appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2vsASH4 via IFTTT

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! from RSSMix.com Mix ID 8230700 http://ift.tt/2uxWZMp via IFTTT

A Tale of Two Cities Foundations At the end of an unexpectedly long day yesterday, I finally caught a break:  my client’s 1950’s rambler (and my upcoming listing) in Edina had a blissfully straightforward, rectangular foundation that took me less than 10 minutes to measure. No additions, bump-outs, bay windows, or other nooks and crannies. In fact, it’s the first time that I’ve recalculated, to the foot, the county’s measurements:  in this case, 48′ wide by 26′ deep = 1,248.’ At the other extreme? The monster, 6,000 square foot I home I sold by Cedar Lake in Minneapolis five years ago. The home’s foundation (shown at top, drawn in Excel) measured over 3,300 square feet, and took me (conservatively) two hours to calculate. from RSSMix.com Mix ID 8230700 http://ift.tt/2uU2eZg via IFTTT

As long time San Francisco Realtors and residents, we are proud of all that San Francisco offers in terms of outdoor and cultural events. Writing this roundup of the best parks in San Francisco and the city’s summertime recreational opportunities made us want to head out of the office and into the outdoors! Read on to discover more about some of San Francisco’s greatest outdoor assets. Alamo Square Park Famous for its view of the Painted Ladies, the Victorian era homes featured in the opening credits of Full House, Alamo Square’s neighborhood park is an international destination. Beautification projects completed in the spring of 2017 redesigned the twelve acres of historic park space for maximum enjoyment and environmental considerations. Popular on postcards and just as picture perfect for summer picnics, Alamo Square Park offers a dual-level playground for children and an off-leash dog park for the fuzzier members of the family. A full tennis court and walking trails provide ampl...

What’s the difference between an inexperienced Buyer’s agent and a veteran? When the novice shows a home to clients, they study the home. When an experienced agent shows clients a home . . . they study their client. Of course, if the client likes the home, the agent forms an opinion about the home as well. from RSSMix.com Mix ID 8230700 http://ift.tt/2v0ZIAU via IFTTT

I talk to a lot of real estate investors through email, Facebook, and in my coaching programs. One of the most common questions is, “how do I get started if I don’t have the money?” There are a lot of gurus who teach real estate is the answer to any financial problem. Real estate can be an awesome way to invest your money and build wealth. It can even be a great way to make a lot of money when you have very little. However, real estate investing is not easy, and if you want to make a lot of The post How to Invest in Real Estate If You Don’t Have the Money appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tvo4OM via IFTTT

The Hilltop Home in a Flood Plain (Huh?!?) If your home appeared on a Federal Emergency Management Agency (“FEMA”) map, showing its “flood zone designation,” you might assume that the home in question was located in a flood plain, and subject to (very expensive) flood insurance. And you’d assume wrong. It turns out that ALL Minnesota homes have been assigned a flood zone designation; only a fraction of those — typically near water and/or in low-lying areas — are officially located in flood plains. In this case, the house in question was on a hilltop in one of the highest areas of Minnetonka (and Hennepin County). See also , “ What’s the Highest Point in Hennepin County?” from RSSMix.com Mix ID 8230700 http://ift.tt/2usSFhe via IFTTT

[Your Name Here] Award I have no idea for what, or who decided (actually, some organization called “American Registry” emailed this to me, along with a pitch to pay them money). But, it says so in the fine print on a plaque, so it must be right . . . P.S.:  I’d prefer to be in the financial top 1%.  Unfortunately, I’m several million (billion?) short.   from RSSMix.com Mix ID 8230700 http://ift.tt/2tC3JLT via IFTTT

California homeowners are entering into their geriatric phase.  The share of homes owned by older Californians has grown substantially since 2000.  The Taco Tuesday baby boomer crowd is dominating the ranks of homeowners.  This trend is new and because of key items like Prop 13 and Millennials living with parents, very few homes are turning […] from RSSMix.com Mix ID 8230700 http://ift.tt/2vN09uW via IFTTT

Client to Agent:  “What Would You Do?” “You break it, you own it.” –The Pottery Barn Rule “You make it, you own it”  (translation:  if you make a decision for a client . . . you are responsible for the consequences). –Real estate corollary, Ross Kaplan Whether it’s in the context of choosing a home, negotiating a deal, resolving an inspection issue — or literally countless other scenarios that arise in residential real estate — one of the most common questions Realtors field from their clients is, “what would you do?” I’m a pretty direct, call-it-like-I-see-it guy (and Realtor), but I’ve learned not to answer that question. That’s because I’m not the client. It can be very easy to lose sight of, but it’s  the client’s wants, needs, budget, timetable, personal taste, etc. — and they are the ones who’ll be living with the consequences of any decisions they make. Context and Analysis (vs. Decision-Making) Which isn’t to say I simply shrug ...

Opportunity?  Or Deal Breaker? Water damage in the lower level — explicitly disclosed by the Seller on MLS — represents which of the following: A. A deal breaker. B. An opportunity for the right Buyer. C. Both “A.” and “B.” Answer :  “C.” At least in this case, Buyers decided that the Golden Valley rambler (pictured above) was an opportunity:  it sold last night, in multiple offers, after exactly one day on the market. Making the needed repairs more palatable:  a deeply discounted list price ($190k), plus the home’s location in a neighborhood of much more expensive homes. Congrats to the Seller and their listing agent, Edina Realty – City Lakes’ Karla Rose. from RSSMix.com Mix ID 8230700 http://ift.tt/2tHSpsZ via IFTTT

A Realtor’s Definition of a “7” (or a “3” or a “9”) vs. a Consumer’s [ 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.] Good Buyers’ agents don’t just qualify their clients financially, they also vet the Buyer’s selection criteria. Exhibit A:  what a client means when they say they’re looking for a “fixer-upper.” In my experience, an agent’s definition of a “fixer” and a client’s can difference dramatically. Defining Terms; 1-10 Scale Just to define terms, in the course of getting acquainted I’ll often ask prospective Buyers to pick a number reflecting how much work they’re willing/able to do. So, on a scale of 1-10,  “1” means they can gut the entire home to the studs and put everything back together, including a new Kitchen and multiple new Bath’s. At the other extreme, “10” means the cushions on the Living Room couch — assuming it com...

Electric Toothbrushes and Modern Gas Pumps One of my favorite “Family Circus” cartoons shows the children in the bathroom in their grandparents’ house, holding a manual toothbrush. The caption:  “Look, Mom! A toothbrush you don’t have to plug in!” The Kaplan household recently had our own version of that experience, when my 17 year-old son (and now very used car owner) needed to put a few $$$ of gas into his almost-empty tank. Not being nearby to give him my credit card, I told him to go to the SuperAmerica down the street and put a few bucks in. His response:  “ you can pay with cash?!?” from RSSMix.com Mix ID 8230700 http://ift.tt/2vytaL1 via IFTTT

Whole > Sum of Parts [ 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.] One of the (many) fringe benefits of working at the best office (City Lakes), at the Twin Cities’ best and biggest broker (Edina Realty), is hearing colleagues like Budd Batterson (and 2011 Minnesota Realtor of the Year!) give a detailed overview of upcoming forms changes. Like he did at this morning’s Edina Realty – City Lakes weekly meeting. Effective each August 1, this year’s changes are easily the most significant in years. Thankfully, the biggest change is mainly about format, not substance. Form(s) vs. Substance So, instead of an 8-page Purchase Agreement followed by separate Addenda for Financing, Seller-Paid’s, and Inspection, those forms are now all included in a 12-page Purchase Agreement. One immediate benefit: ...

Is That, “No Finished Square Feet in Lower Level?” or, “There’s NO LOWER LEVEL . . . AT ALL?!?” “If your parents don’t have kids . . . you won’t either.” –Anonymous “If your listing doesn’t get showings . . . you won’t get offers, either.” –Real estate corollary, Ross Kaplan [ 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.] It’s certainly a judgment call, for both the home owner and their agent. Namely, whether to tell prospective Buyers that a “For Sale” home doesn’t have a basement (or “Lower Level,” in Realtors’ parlance  ).** While uncommon in the basement-friendly Upper Midwest, I’d estimate that 2% of the housing stock locally lacks such a feature. Most common reason:  a high groundwater table. There’s even a name for such homes in the Twin Cities (at least when they’re one...

Doesn’t “FD” Stand for “Fire Department?” “Things should be made as simple as possible — but not simpler.” –Albert Einstein I’m all for making things simpler when it comes to real estate terminology. But, there comes a point where it . . . becomes kind of silly. Exhibit A:  showing instructions that refer to the front door — as in, the location of the lockbox — as “FD.” No , Realtors don’t commonly abbreviate “Front Door” with “FD” . . . Here’s a key to the other, genuine real estate abbreviations: FSF:  finished square feet. FSZ:  foundation size. FR: family room. FP:  fireplace. P.S.:  Why did the names of some Presidents (FDR, LBJ, JFK) get abbreviated, but not others (Harry Truman, Jimmy Carter, Bill Clinton)? It was based purely on length — specifically, newspaper editors’ need to fit the President’s name in a headline. In real estate, the limiting factor is the length of each field on MLS. from RSSMix.com Mix ID 8230700 http://ift.tt/2t2l...

City Lakes Real Estate Blog Tops the List (Google’s) So, how do you get to be the best Realtor blog in America? Start with a daily post featuring a topical bit of real estate-related news or analysis (usually). Then, write nine(!) more such pieces the same week. Finally — and here’s the hard part — repeat weekly . . .  for 10 years(!). Really . . . Thanks for visiting! *According to Google, “City Lakes Real Estate Blog” is the highest-ranked individual Realtor blog (vs. list of blogs) in the U.S., searching under these terms: “best U.S. Realtor blog,” “best Realtor blog,” “top U.S. Realtor blog,” and “best U.S. real estate agent blog.” from RSSMix.com Mix ID 8230700 http://ift.tt/2tqFWJZ via IFTTT

On this episode of the InvestFourMore Podcast, I talk with Jarred Kessler, who is trying to start a company that would eliminate the need for real estate agents. As an agent myself, I’m a big proponent of using agents to make the most money when selling or buying houses. This podcast definitely had some tense moments and differing opinions! After working in the financial-services industry and believing current methods for selling and buying houses have become inefficient and outdated, Jarred started a company called Easy Knock. The idea is that buyers and sellers can use the website to complete transactions The post Podcast 110: Do You Need a Real Estate Agent When Selling or Buying a House with Jarred Kessler appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2vsASH4 via IFTTT

Client to Agent:  “What Would You Do?” “You break it, you own it.” –The Pottery Barn Rule “You make it, you own it”  (translation:  if you make a decision for a client . . . you are responsible for the consequences). –Real estate corollary, Ross Kaplan Whether it’s in the context of choosing a home, negotiating a deal, resolving an inspection issue — or literally countless other scenarios that arise in residential real estate — one of the most common questions Realtors field from their clients is, “what would you do?” I’m a pretty direct, call-it-like-I-see-it guy (and Realtor), but I’ve learned not to answer that question. That’s because I’m not the client. It can be very easy to lose sight of, but it’s  the client’s wants, needs, budget, timetable, personal taste, etc. — and they are the ones who’ll be living with the consequences of any decisions they make. Context and Analysis (vs. Decision-Making) Which isn’t to say I simply shrug ...

Opportunity?  Or Deal Breaker? Water damage in the lower level — explicitly disclosed by the Seller on MLS — represents which of the following: A. A deal breaker. B. An opportunity for the right Buyer. C. Both “A.” and “B.” Answer :  “C.” At least in this case, Buyers decided that the Golden Valley rambler (pictured above) was an opportunity:  it sold last night, in multiple offers, after exactly one day on the market. Making the needed repairs more palatable:  a deeply discounted list price ($190k), plus the home’s location in a neighborhood of much more expensive homes. Congrats to the Seller and their listing agent, Edina Realty – City Lakes’ Karla Rose. from RSSMix.com Mix ID 8230700 http://ift.tt/2tHSpsZ via IFTTT

A Realtor’s Definition of a “7” (or a “3” or a “9”) vs. a Consumer’s [ 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.] Good Buyers’ agents don’t just qualify their clients financially, they also vet the Buyer’s selection criteria. Exhibit A:  what a client means when they say they’re looking for a “fixer-upper.” In my experience, an agent’s definition of a “fixer” and a client’s can difference dramatically. Defining Terms; 1-10 Scale Just to define terms, in the course of getting acquainted I’ll often ask prospective Buyers to pick a number reflecting how much work they’re willing/able to do. So, on a scale of 1-10,  “1” means they can gut the entire home to the studs and put everything back together, including a new Kitchen and multiple new Bath’s. At the other extreme, “10” means the cushions on the Living Room couch — assuming it com...

Welcome to WordPress. This is your first post. Edit or delete it, then start writing! from RSSMix.com Mix ID 8230700 http://ift.tt/2tcSK7e via IFTTT

Last week, my family and I took a trip to Disneyland. This was our fourth trip in the last 4 years (thank you real estate), so we are a bid soiled. I tend to get busy with life, and one great thing about going on vacation is having the chance to read. I try to read books as much as I can, but that is not nearly as often as I would like. Whenever I go on a trip, I stop in the airport bookstore and buy the first interesting book I find. Being an entrepreneur and real estate investor The post Why Reading Novels Will Help Your Real Estate Investing appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2tn8Dwf via IFTTT

This video is part of the Danielle Lazier + Partners 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. This week we cover San Francisco condominiums. Let us know if there is something specific you’d like to know. San Francisco Condominiums Market Update – June 2017 The number of active listings was down 45% from one year earlier and down 24% from the previous month. As you can see, the median listing price for the month was $1.2 million, while the median sales price was $1.5 million. Compared to last year, the average number of days that units spent on the market before being sold was up 3%. The number of units sold increased 12% year-over-year and increased 13% month-over-month. The Take Home Number of active listings: Down 45% year-over-year Number of active listings: Down 24% month-over-month Median listing price: $1.2 million Average number of days on ...

Electric Toothbrushes and Modern Gas Pumps One of my favorite “Family Circus” cartoons shows the children in the bathroom in their grandparents’ house, holding a manual toothbrush. The caption:  “Look, Mom! A toothbrush you don’t have to plug in!” The Kaplan household recently had our own version of that experience, when my 17 year-old son (and now very used car driver) needed to put a few $$$ of gas into his almost-empty tank. Not being nearby to give him my credit card, I told him to go to the SuperAmerica down the street and put a few bucks in. His response:  “ you can pay with cash?!?” from RSSMix.com Mix ID 8230700 http://ift.tt/2vytaL1 via IFTTT

Whole > Sum of Parts [ 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.] One of the (many) fringe benefits of working at the best office (City Lakes), at the Twin Cities’ best and biggest broker (Edina Realty), is hearing colleagues like Budd Batterson (and 2011 Minnesota Realtor of the Year!) give a detailed overview of upcoming forms changes. Like he did at this morning’s Edina Realty – City Lakes weekly meeting. Effective each August 1, this year’s changes are easily the most significant in years. Thankfully, the biggest change is mainly about format, not substance. Form(s) vs. Substance So, instead of an 8-page Purchase Agreement followed by separate Addenda for Financing, Seller-Paid’s, and Inspection, those forms are now all included in a 12-page Purchase Agreement. One immediate benefit: ...

The rental apocalypse continues in Los Angeles.  It is interesting to see how far some house humpers will go trying to justify prices.  Some are arguing future weed sales are going to create another boom which is somewhat ironic since the benefits are actually to mellow you out, not turn you into a Taco Tuesday […] from RSSMix.com Mix ID 8230700 http://ift.tt/2v0p0fm via IFTTT

Is That, “No Finished Square Feet in Lower Level?” or, “There’s NO LOWER LEVEL . . . AT ALL?!?” “If your parents don’t have kids . . . you won’t either.” –Anonymous “If your listing doesn’t get showings . . . you won’t get offers, either.” –Real estate corollary, Ross Kaplan [ 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.] It’s certainly a judgment call, for both the home owner and their agent. Namely, whether to tell prospective Buyers that a “For Sale” home doesn’t have a basement (or “Lower Level,” in Realtors’ parlance  ).** While uncommon in the basement-friendly Upper Midwest, I’d estimate that 2% of the housing stock locally lacks such a feature. Most common reason:  a high groundwater table. There’s even a name for such homes in the Twin Cities (at least when they’re one...

Doesn’t “FD” Stand for “Fire Department?” “Things should be made as simple as possible — but not simpler.” –Albert Einstein I’m all for making things simpler when it comes to real estate terminology. But, there comes a point where it . . . becomes kind of silly. Exhibit A:  showing instructions that refer to the front door — as in, the location of the lockbox — as “FD.” No , Realtors don’t commonly abbreviate “Front Door” with “FD” . . . Here’s a key to the other, genuine real estate abbreviations: FSF:  finished square feet. FSZ:  foundation size. FR: family room. FP:  fireplace. P.S.:  Why did the names of some Presidents (FDR, LBJ, JFK) get abbreviated, but not others (Harry Truman, Jimmy Carter, Bill Clinton)? It was based purely on length — specifically, newspaper editors’ need to fit the President’s name in a headline. In real estate, the limiting factor is the length of each field on MLS. from RSSMix.com Mix ID 8230700 http://ift.tt/2t2l...

City Lakes Real Estate Blog Tops the List (Google’s) So, how do you get to be the best Realtor blog in America? Start with a daily post featuring a topical bit of real estate-related news or analysis (usually). Then, write nine(!) more such pieces the same week. Finally — and here’s the hard part — repeat weekly . . .  for 10 years(!). Really . . . Thanks for visiting! *According to Google, “City Lakes Real Estate Blog” is the highest-ranked individual Realtor blog (vs. list of blogs) in the U.S., searching under these terms: “best U.S. Realtor blog,” “best Realtor blog,” “top U.S. Realtor blog,” and “best U.S. real estate agent blog.” from RSSMix.com Mix ID 8230700 http://ift.tt/2tqFWJZ via IFTTT

Key Questions:  1) Will it fit in the elevator?; 2) IS THERE an elevator? When you see a crane outside a commercial property, it’s usually hoisting a piece of HVAC-related equipment (heating, cooling, electrical) onto the roof that’s too big to fit in an elevator. By contrast, when you see a crane outside a residential home, there’s usually** just one explanation:  trees. Specifically, a dead tree. The crane pictured above is removing a dead oak tree in front of a home on Sunset Boulevard just west of Cedar Lake. The crew — employed by Rainbow Tree Care — expects to be done by noon today. ** See also , “ 100′ Crane Lifts Trusses Into Place in Fern Hill. “ from RSSMix.com Mix ID 8230700 http://ift.tt/2tb1GhI via IFTTT

In a supposedly paperless world, why does anyone still need something to correct paper mistakes? I know at least one, non-standard application:  touch-up paint for Realtor sign riders. It’s not as good as white nail polish, and not as water-repellent (or long-lived) as oil-based paint, but in a pinch . . . it’ll do! from RSSMix.com Mix ID 8230700 http://ift.tt/2tmg0Pq via IFTTT