Robert Guthridge's Blog

This video is part of the Danielle Lazier + Associates 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. San Francisco Single Family Homes Market Update – August 2017 The number of active listings was down 48% from one year earlier and down 34% from the previous month. As you can see, the median listing price for the month was just under $1.4 million, while the median sales price was just under $1.4 million. Compared to last year, the average number of days that units spent on the market before being sold was down 6%. The number of units sold increased 5% year-over-year and decreased 5% month-over-month. The Take Home Number of active listings: Down 48% year-over-year Number of active listings: Down 34% month-over-month Median listing price: Just under $1.4 million Average number of days on the...

Keeping Calm and Carrying On, Circa 2017 As world views go, I always especially liked this one: “Every morning I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.” –Robert Orben With a little bit of re-tooling, I think it still works well today. My updated version: “Every morning I get up and check the headlines to see if the world has blown up. If it hasn’t, I go to work.” –Ross Kaplan On a related note, I’m sure I speak for all Minnesotans when I say we’re collectively grateful to have been spared the recent calamities that have befallen people in Houston, Puerto Rico, Florida, and Mexico City, and hope that the recovery process in those places is mercifully fast. It goes without saying, those in a position to help . . . should , however they can (writing checks works fine, too). P.S.:  Tonight is the beginning of Yom Kippur, the holiest day in the Jewish religion.  It’s customarily a time for prayer, reflect...

“Realtor” vs. “Real Estate Agent” vs. “Executive Realtor” (Huh?!?) I know the term “Realtor®” — it’s actually a trademarked name that refers to someone who belongs to the National Association of Realtors (“NAR”). Then there are plain-old real estate agents — licensed professionals who don’t belong to NAR. Similarly, the terms “agent,” “sales associate,” “broker” and “broker/Realtor” are all recognized industry titles (technically, real estate agents work for brokers, who hold their licenses). But, at least until skimming Minnesota Monthly’s list of “Best Real Estate Professionals in Minnesota 2017,” I’d never encountered the term “ Executive Realtor.” What exactly is that? You’ll have to ask the agent who calls himself that . . .  P.S.:  Bonus question:  what sort of homes do you suppose an “executive Realtor” sells? My guess:   executive homes (or perhaps,  deluxe homes). **Not to be confused with Mpls. St. Paul Magazine’s annual list of “Super Re...

Standard for Buyer’s Walk-Through Inspection “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the date of this Purchase Agreement.” –Minnesota residential Purchase Agreement; lines 358. – 360. “I know it when I see it.” –United States Supreme Court Justice Potter Stewart’s threshold test for defining obscenity. What’s fair game for raising issues during the Buyer’s walk-through inspection? (typically, conducted within 48 hours of closing). At least in Minnesota, any changes to the home since the Buyer’s inspection that substantially alter its condition. In (and Out) of Bounds; The Golden Rule In practice, such major problems as flooded basements, roof damage, broken furnaces or central a/c units are all fair game (and things you’d certainly expect a Seller — at least one who was still living in the home — to be aware of and already addressing). Out-of-bo...

Nesting Instinct It’s not just would-be Buyers who are tirelessly searching for a home this Fall, before the arrival of colder temps and harsher weather. So are critters (and insects, if that’s a separate category). The list includes bees, wasps, mice, squirrels, & raccoons (a few years ago in the Twin Cities, it was even ladybugs ). Proactive Strategy Fortunately, it’s usually not a big deal to keep out such uninvited guests: simply close any openings through which they’re gaining access, which usually means caulking. Locally, I’m aware of at least a few homeowners who, every Fall, hire a professional exterminator to inspect the perimeter of their home, and do any needed spot caulking. Smart . . . P.S.: I know one Twin Cities homeowner who wishes they had hired such a service. I recently represented the Buyer in a +$1M home sale in Edina that fell apart during the inspection phase of the deal. The main culprit:  mouse droppings in one too many pl...

Right Message, Wrong Messenger “Pick you up from school?!?  When I was your age, nobody picked me up from school.  I had to take two city buses, wait in the cold for a transfer, and sit in traffic for an hour to get home from school.” –Overheard at the Kaplan kitchen table around 7:30 a.m. on a recent school day. Undercutting the stern message above:  the speaker wasn’t me or my wife, lecturing one of our kids. Instead, it was son #1 — now almost 18 years old — rebuking son #2 (not quite 15), for having the temerity to ask him for an after-school ride home. Which means that “when I was your age” wasn’t millennia ago, but as recently as last year, when son #1 was still car-less. Inconvenient fact #2:  I remember literally dozens of times when my wife or I drove said son to/from school, especially when he had to be there early or stay late. That hassle came to an abrupt halt last year, with the addition of a (very) used car to the Kaplan household. Reminded ...

Near the water, adjacent to North Beach, Fisherman’s Wharf, and the Marina District, Russian Hill is a popular neighborhood, sporting some of San Francisco’s steepest climbs (and therefore best views) and luxury living. From crooked Lombard Street (the downhill drive, switchbacking through dozens of movies and almost synonymous with San Francisco driving) to the iconic cable cars and secret staircase sidewalks, Russian Hill is perhaps the most quintessential “San Francisco” neighborhood. Why You’ll Love It Russian Hill, for all its fame and tourist allure, has never lost its old-world charm. A cozy, down-to-earth sort of place, it’s got everything from iconic landmarks and exceptional views of the Bay to green spaces and shopping districts. World-class restaurants share the streets with smaller-scale, local, hidden gems. With local amenities nearby, including Ghirardelli Square, the Marina, and Aquatic Park, all on the waterfront, and the Polk, Chestnut, and Union Street shopping di...

Keeping Calm and Carrying On, Circa 2017 As world views go, I always especially liked this one: “Every morning I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.” –Robert Orben With a little bit of re-tooling, I think it still works well today. My updated version: “Every morning I get up and check the headlines to see if the world has blown up. If it hasn’t, I go to work.” –Ross Kaplan On a related note, I’m sure I speak for all Minnesotans when I say we’re collectively grateful to have been spared the recent calamities that have befallen people in Houston, Puerto Rico, Florida, and Mexico City, and hope that the recovery process in those places is mercifully fast. It goes without saying, those in a position to help . . . should , however they can (writing checks works fine, too). P.S.:  Tonight is the beginning of Yom Kippur, the holiest day in the Jewish religion.  It’s customarily a time for prayer, reflect...

“Realtor” vs. “Real Estate Agent” vs. “Executive” Realtor (Huh?!?) I know the term “Realtor®” — it’s actually a trademarked name that refers to someone who belongs to the National Association of Realtors (“NAR”). Then there are plain-old real estate agents — licensed professionals who don’t belong to NAR. Similarly, the terms “agent,” “sales associate,” “broker” and “broker/Realtor” are all recognized industry titles (technically, real estate agents work for brokers, who hold their licenses). But, at least until skimming Minnesota Monthly’s list of “Best Real Estate Professionals in Minnesota 2017,” I’d never encountered the term “ Executive Realtor.” What exactly is that? You’ll have to ask the agent who calls himself that . . .  P.S.: Not to be confused with Mpls. St. Paul Magazine’s annual list of “Super Real Estate Agents,” Minnesota Monthly canvases fewer people (about 15,000) to compile its shorter list (about half as many). Not seeing my name on the list, my ...

Standard for Buyer’s Walk-Through Inspection “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the date of this Purchase Agreement.” –Minnesota residential Purchase Agreement; lines 358. – 360. “I know it when I see it.” –United States Supreme Court Justice Potter Stewart’s threshold test for defining obscenity. What’s fair game for raising issues during the Buyer’s walk-through inspection? (typically, conducted within 48 hours of closing). At least in Minnesota, any changes to the home since the Buyer’s inspection that substantially alter its condition. In (and Out) of Bounds; The Golden Rule In practice, such major problems as flooded basements, roof damage, broken furnaces or central a/c units are all fair game (and things you’d certainly expect a Seller — at least one who was still living in the home — to be aware of and already addressing). Out-of-bo...

Nesting Instinct It’s not just would-be Buyers who are tirelessly searching for a home this Fall, before the arrival of colder temps and harsher weather. So are critters (and insects, if that’s a separate category). The list includes bees, wasps, mice, squirrels, & raccoons (a few years ago in the Twin Cities, it was even ladybugs ). Proactive Strategy Fortunately, it’s usually not a big deal to keep out such uninvited guests: simply close any openings through which they’re gaining access, which usually means caulking. Locally, I’m aware of at least a few homeowners who, every Fall, hire a professional exterminator to inspect the perimeter of their home, and do any needed spot caulking. Smart . . . P.S.: I know one Twin Cities homeowner who wishes they had hired such a service. I recently represented the Buyer in a +$1M home sale in Edina that fell apart during the inspection phase of the deal. The main culprit:  mouse droppings in one too many pl...

Right Message, Wrong Messenger “Pick you up from school?!?  When I was your age, nobody picked me up from school.  I had to take two city buses, wait in the cold for a transfer, and sit in traffic for an hour to get home from school.” –Overheard at the Kaplan kitchen table around 7:30 a.m. on a recent school day. Undercutting the stern message above:  the speaker wasn’t me or my wife, lecturing one of our kids. Instead, it was son #1 — now almost 18 years old — rebuking son #2 (not quite 15), for having the temerity to ask him for an after-school ride home. Which means that “when I was your age” wasn’t millennia ago, but as recently as last year, when son #1 was still car-less. Inconvenient fact #2:  I remember literally dozens of times when my wife or I drove said son to/from school, especially when he had to be there early or stay late. That hassle came to an abrupt halt last year, with the addition of a (very) used car to the Kaplan household. Reminded ...

Homes with “Great Personalities” & Other White Lies [ Editor’s Note : While I do my best to avoid such euphemisms in my own capacity as a listing agent (representing Sellers), let me offer two (sort of) defenses on behalf of Realtors who are less circumspect:  1) beauty is frequently in the eye of the beholder, i.e., subjective rather than objective; and 2) at the right price, any property is genuinely attractive to Buyers (or, at least one!)] Every sales-related profession has them: euphemisms intended to put a positive face on what most people would agree is a negative. In that spirit, here is a “conversion key” to some of the most popular real estate terms today: What the listing says:  ‘new construction opportunity.’ What the agent means:  tear-down. What the listing says:  ‘not a drive-by.’ What the agent means:  the home has no curb appeal (still too subtle?  It’s U-G-L-Y!). What the listing says : ‘quick closing possible.’ Wha...

Standard for Buyer’s Walk-Through Inspection “Buyer has the right to a walk-through review of the property prior to closing to establish that the property is in substantially the same condition as of the date of this Purchase Agreement.” –Minnesota residential Purchase Agreement; lines 358. – 360. “I know it when I see it.” –United States Supreme Court Justice Potter Stewart’s threshold test for defining obscenity. What’s fair game for raising issues during the Buyer’s walk-through inspection? (typically, conducted within 48 hours of closing). At least in Minnesota, any changes to the home since the Buyer’s inspection that substantially alter its condition. In (and Out) of Bounds; The Golden Rule In practice, such major problems as flooded basements, roof damage, broken furnaces or central a/c units are all fair game (and things you’d certainly expect a Seller — at least one who was still living in the home — to be aware of and already addressing). Out-of-bo...

Lane Kawaoka is my guest on this week’s episode of the InvestFourMore Real Estate Podcast. Lane is a full-time engineer but also loves to invest in real estate. Lane has always worked on the west coast or Hawaii, where it is really hard to find cash-flowing rental properties. He has had to invest out-of-state to find deals that made sense to him. On this show, we talk about how he first got involved in real estate and how he both bought houses from turn-key companies and  on his own. We also talk about what his current goals and how he The post Podcast 120: Investing in Out-of-State Rental Properties with Lane Kawaoka appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2fzztLV via IFTTT

Nesting Instinct It’s not just would-be Buyers who are tirelessly searching for a home this Fall, before the arrival of colder temps and harsher weather. So are critters (and insects, if that’s a separate category). The list includes bees, wasps, mice, and squirrels. Proactive Strategy Fortunately, it’s usually not a big deal to keep out such uninvited guests:  simply close any openings through which they’re gaining access, which usually means caulking. Locally, I’m aware of at least a few homeowners who, every Fall, hire a professional exterminator to inspect the perimeter of their home, and do any needed spot caulking. P.S.:  I know of at least one Twin Cities homeowner who wishes they had hire such a service.  I recently represented the Buyer in a +$1M home sale in Edina that fell apart during the inspection phase of the deal. The main culprit?  Mouse droppings in the garage rafters, and one too many places in the basement. See also , “ Early Mo...

Rental properties can be a great investment when they bring in cash flow and are bought below market value. I bought 16 rental properties from the end of 2010 to the middle of 2015. I stopped buying rentals in my market, because prices increased so much that it became very tough to cash flow. I bought my properties well below market value and prices in my area increased tremendously (Colorado). I put a lot of thought into whether I should sell the properties, keep them, or refinance them. I decided to sell a couple of properties, refinance a few more The post When Should you Sell Your Rental Property? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2wP1sib via IFTTT

San Francisco real estate continues to operate in a land of full on self-indulged delusion and pseudo-tech worship.  I travel to the Bay Area and San Francisco often and the amount of self-delusion when it comes to real estate is amazing.  You will find all of these convoluted justifications as to why a crap shack […] from RSSMix.com Mix ID 8230700 http://ift.tt/2xfPYB9 via IFTTT

Right Message, Wrong Messenger “Pick you up from school?!?  When I was your age, nobody picked me up from school.  I had to take two city buses, wait in the cold for a transfer, and sit in traffic for an hour to get home from school.” –Overheard at the Kaplan kitchen table around 7:30 a.m. on a recent school day. Undercutting the stern message above:  the speaker wasn’t me or my wife, lecturing one of our kids. Instead, it was son #1 — now almost 18 years old — rebuking son #2 (not quite 15), for having the temerity to ask him for an after-school ride home. Which means that “when I was your age” wasn’t millennia ago, but as recently as last year, when son #1 was still car-less. Inconvenient fact #2:  I remember literally dozens of times when my wife or I drove said son to/from school, especially when he had to be there early or stay late. That hassle came to an abrupt halt last year, with the addition of a (very) used car to the Kaplan household. Reminded ...

Homes with “Great Personalities” & Other White Lies [ Editor’s Note : While I do my best to avoid such euphemisms in my own capacity as a listing agent (representing Sellers), let me offer two (sort of) defenses on behalf of Realtors who are less circumspect:  1) beauty is frequently in the eye of the beholder, i.e., subjective rather than objective; and 2) at the right price, any property is genuinely attractive to Buyers (or, at least one!)] Every sales-related profession has them: euphemisms intended to put a positive face on what most people would agree is a negative. In that spirit, here is a “conversion key” to some of the most popular real estate terms today: What the listing says:  ‘new construction opportunity.’ What the agent means:  tear-down. What the listing says:  ‘not a drive-by.’ What the agent means:  the home has no curb appeal (still too subtle?  It’s U-G-L-Y!). What the listing says : ‘quick closing possible.’ Wha...

Cashing in on the Equifax Data Breach, Consumers’ Sense of Vulnerability THAT was fast. I’m assuming it’s no coincidence that, scarcely 10 days after the news broke of Equifax’s data breach, credit card issuers are pouncing on consumers’ new-found sense of vulnerability (note: apparently, the hackers originally broke into Equifax’s computers last Spring, and had unfettered access for months). Which would explain this pitch for a new credit card in today’s mail: “MAKE PURCHASES WITH MORE CONFIDENCE.  GET A LOW INTRO RATE AND DEPENDABLE PROTECTION!” The marketing material touted these other benefits as well: –A Low Intro APR –No Annual Fee –$0 Liability on Unauthorized Charges –Free Access to FICO Score “Thanks for Nothing” Department The rub with the above? I’m pretty sure that “$0 liability on unauthorized charges” applies to all credit cards, now. Ditto for free access to your FICO score. At least, the financial institution behind the pitch wasn’t Equifax . . .** ...

But First . . . a Brief History Lesson I don’t know about other states — I’m only licensed to sell real estate in Minnesota — but here, residential property taxes are due twice a year:  May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy — like practically every other state’s — was agrarian-based. The two times a year farmers predictably had money were in the Spring, before they’d planted; and in the Fall, after they’d harvested. Tax collectors — no dummies about such things — realized that those were the best times to dun its citizens for property taxes (note: the May 15 payment covers the first half of the year; the October 15 payment the second half*). Debits and Credits Which leaves the more contemporary question, “if you’re closing on your house sometime this Fall, do you pay the second half property taxes?” The short answer (or at least mine) is, it depends on whether the Buyer’s lender is escrowing (collecting in advanc...

Minnesota Realtors Get With the (Post-August 1) Program What’s one of the best signs that the Twin Cities housing market is back at full throttle, post-Labor Day? (and back-to-school). It’s purely anecdotal, but my answer would be that this post, “Sneak Peak: 2017-2018 Minnesota Real Estate Contract Changes, ” is getting more play ( read , hits) on Google. Mid-July vs. Late Sept. Originally run July 18, Minnesota Realtors weren’t exactly focused on prospective form changes then. Immediately after the effective date, August 1, my guess is that agents either delayed using the new forms, which was permissible if both Buyer and Seller agreed — or didn’t need to (because they weren’t that busy in August). Now, as the Fall market hits full swing, Minnesota agents are belatedly familiarizing themselves with the new format . . . and discovering my July post.   from RSSMix.com Mix ID 8230700 http://ift.tt/2ynPUzd via IFTTT

Admittedly, It was easier to get my dyslexic head around the original version:  a New Yorker magazine cartoon showing one spouse catching the other “in the act,” as it were. The caption:  “Believe me, it’s not what it is.” Now, Bourbon distiller Maker’s Mark — or more accurately, their ad agency — has apparently decided to peddle a variation of that tagline (see above). My knee jerk reaction:  if you have to think too hard about it, it may not be the best marketing slogan . . . P.S.:  still available:  “It isn’t what it isn’t” (“it is what it is” is way done). from RSSMix.com Mix ID 8230700 http://ift.tt/2fy3wAs via IFTTT

Means to an End (“Eyes on the Prize”) [Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. If you need legal advice, please consult an attorney.] What do you suppose is the best way for a home Buyer to cure their breach of contract, for failing to deliver a timely Written Statement? (Note:  a Written Statement is the lender’s representation that the house has appraised, and the Buyer’s loan has been underwritten): A. Deliver the Written Statement. B. Amend the Purchase Agreement to extend the deadline (or, remove the requirement). C. Close the sale. D. None of the above. Correct answer :  “C.” Once the transaction closes . . . a Written Statement is moot. After all, “if it exists . . . it’s possible.” Translation:  if the Seller got their money, it’s all good. Seller Protection(s) if Buyer Can’t — or Won’t — Close So, what’s th...

Real Estate Terminology 101 “Final acceptance” sounds like something that happens in a hospice, or perhaps what Woody Allen has been seeking in therapy all these years. Fortunately, the real estate version is not so macabre:  it’s just a fancy way of saying, “Done Deal!” “Signed, Sealed, & (Constructively) Delivered” Specifically, “Final Acceptance” refers to when the Buyer and Seller have entered into a consummated contract (Purchase Agreement). In turn, that requires that everything has been has been signed by all parties, and constructively delivered (to the Buyer or Seller’s agent counts). The “Final Acceptance Date” is important because it starts the timer on how long the Buyer has to perform their inspection (a feature of almost all deals). “Not Sold Till It’s Sold” Of course, in multiple offers, Final Acceptance is also when the Buyer definitely-for-sure knows they have a deal. Short of that point — in theory, even one missing initial on the Purchase Agreement q...

Right Message, Wrong Messenger “Pick you up from school?!?  When I was your age, nobody picked me up from school.  I had to take two city buses, wait outside for a transfer Uptown, and sit in traffic for an hour to get home from school.” Undercutting the stern message above:  the speaker wasn’t me or my wife, speaking to one of our kids, but son #1 — now almost 18 years old — rebuking son #2 (not quite 15) for having the temerity to ask him for an after-school ride. Which means “when I was your age” wasn’t millennia ago, but way back in 2014, when son #1 was a high school freshman. Inconvenient fact #2:  I remember literally dozens of times when my wife or I drove son #1 to/from school, especially when he had to be there early or stay late. That hassle came to an abrupt halt last year, with the addition of a (very) used car to the Kaplan household. Reminded of those facts, son #1 picked up his brother.  from RSSMix.com Mix ID 8230700 http://ift.tt/2h...

Homes with “Great Personalities” & Other White Lies [ Editor’s Note : While I do my best to avoid such euphemisms in my own capacity as a listing agent (representing Sellers), let me offer two (sort of) defenses on behalf of Realtors who are less circumspect:  1) beauty is frequently in the eye of the beholder, i.e., subjective rather than objective; and 2) at the right price, any property is genuinely attractive to Buyers (or, at least one!)] Every sales-related profession has them: euphemisms intended to put a positive face on what most people would agree is a negative. In that spirit, here is a “conversion key” to some of the most popular real estate terms today: What the listing says:  ‘new construction opportunity.’ What the agent means:  tear-down. What the listing says:  ‘not a drive-by.’ What the agent means:  the home has no curb appeal (still too subtle?  It’s U-G-L-Y!). What the listing says : ‘quick closing possible.’ Wha...

San Francisco real estate continues to operate in a land of full on self-indulged delusion and pseudo-tech worship.  I travel to the Bay Area and San Francisco often and the amount of self-delusion when it comes to real estate is amazing.  You will find all of these convoluted justifications as to why a crap shack […] from RSSMix.com Mix ID 8230700 http://ift.tt/2xfPYB9 via IFTTT

I love flipping houses, and I also love teaching others how to flip. I have 17 flips going at the moment, have sold 21 flips so far this year, and have bought 20 more. My goal was to flip 30 houses this year, which I think I will do! I wrote Fix and Flip Your Way to Financial Freedom a couple of years ago to teach others what I have learned about flipping houses over the last 15 years. I flipped before, during, and after the housing crash, without losing money, thanks to investing with solid principles and not get-rich-quick The post My Fix and Flip Book Is Now Available as an Audio Book appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2yw429W via IFTTT

Cashing in on the Equifax Data Breach, Consumers’ Sense of Vulnerability THAT was fast. I’m assuming that it’s no coincidence that, scarcely 10 days after the news broke of Equifax’s data breach, credit card issuers are pouncing on consumers’ new-found sense of vulnerability (note: apparently, the hackers originally broke into Equifax’s computers last Spring, and had unfettered access for months). Which would explain the pitch in my mailbox today for a new credit card: MAKE PURCHASES WITH MORE CONFIDENCE.  GET A LOW INTRO RATE AND DEPENDABLE PROTECTION! The marketing material touted these other benefits as well: –A low intro APR –No Annual Fee –$0 Liability on Unauthorized Charges –Free Access to FICO Score “Thanks for Nothing” Department The rub with all of the above? I’m pretty sure that “$0 liability on authorized charges” applies to all credit cards, now. Ditto for free access to your FICO score. At least, the financial institution pushing the above wasn’t Equif...

But First . . . a Brief History Lesson I don’t know about other states — I’m only licensed to sell real estate in Minnesota — but here, residential property taxes are due twice a year:  May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy — like practically every other state’s — was agrarian-based. The two times a year farmers predictably had money were in the Spring, before they’d planted; and in the Fall, after they’d harvested. Tax collectors — no dummies about such things — realized that those were the best times to dun its citizens for property taxes (note: the May 15 payment covers the first half of the year; the October 15 payment the second half*). Debits and Credits Which leaves the more contemporary question, “if you’re closing on your house sometime this Fall, do you pay the second half property taxes?” The short answer (or at least mine) is, it depends on whether the Buyer’s lender is escrowing (collecting in advanc...

San Francisco real estate continues to operate in a land of full on self-indulged delusion and pseudo-tech worship.  I travel to the Bay Area and San Francisco often and the amount of self-delusion when it comes to real estate is amazing.  You will find all of these convoluted justifications as to why a crap shack […] from RSSMix.com Mix ID 8230700 http://ift.tt/2xfPYB9 via IFTTT

When selling your home in San Francisco, it’s helpful to highlight some of the top events taking place in your neighborhood. After all, this California city is known for its unique neighborhoods — all of which attract different types of buyers. If you’re buying a home in San Francisco, knowing which neighborhoods suit your lifestyle will help you find your dream home. This autumn season, take a look at some of the top San Francisco fall festivals before buying a new home to see what your new neighborhood has to offer. Discover the Top San Francisco Fall Festivals for 2017 Autumn Moon Festival: September 30 – October 1 The last weekend in September brings the annual Autumn Moon Festival to San Francisco. Located in the heart of Chinatown, the festival brings together people of all ages and backgrounds. You’ll find a dragon parade and activities designed for kids as well as live entertainment around every corner. Nearly 40 MUNI routes provide visitors with an easy way to get to the fe...

I have gotten two hard-money loans in my 16 year career as a real estate investor. I obtained both this year from Ben Shaevitz with Patch of Land. I shy away from hard-money loans because of the high rates, hoops you must jump through, and length of time it can take to get the loan. However, I worked with Patch of Land because they were able to eliminate many of those difficulties. The thing that really helped me out was they did not require a full appraisal to get the loan completed. Not only did they lend to me without The post Podcast 119: Hard-Money Loans for Fix and Flips with Ben Shaevitz appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2xeEDDQ via IFTTT

Minnesota Realtors Get With the (Post-August 1) Program What’s one of the best signs that the Twin Cities housing market is back at full throttle, post-Labor Day? (and back-to-school). It’s purely anecdotal, but my answer would be that this post, “Sneak Peak: 2017-2018 Minnesota Real Estate Contract Changes, ” is getting more play ( read , hits) on Google. Mid-July vs. Late Sept. Originally run July 18, Minnesota Realtors weren’t exactly focused on prospective form changes then. Immediately after the effective date, August 1, my guess is that agents either delayed using the new forms, which was permissible if both Buyer and Seller agreed — or didn’t need to (because they weren’t that busy in August). Now, as the Fall market hits full swing, Minnesota agents are belatedly familiarizing themselves with the new format . . . and discovering my July post.   from RSSMix.com Mix ID 8230700 http://ift.tt/2ynPUzd via IFTTT

Admittedly, It was easier to get my dyslexic head around the original version:  a New Yorker magazine cartoon showing one spouse catching the other “in the act,” as it were. The caption:  “Believe me, it’s not what it is.” Now, Bourbon distiller Maker’s Mark — or more accurately, their ad agency — has apparently decided to peddle a variation of that tagline (see above). My knee jerk reaction:  if you have to think too hard about it, it may not be the best marketing slogan . . . P.S.:  still available:  “It isn’t what it isn’t” (“it is what it is” is way done). from RSSMix.com Mix ID 8230700 http://ift.tt/2fy3wAs via IFTTT

Means to an End (“Eyes on the Prize”) [Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. If you need legal advice, please consult an attorney.] What do you suppose is the best way for a home Buyer to cure their breach of contract, for failing to deliver a timely Written Statement? (Note:  a Written Statement is the lender’s representation that the house has appraised, and the Buyer’s loan has been underwritten): A. Deliver the Written Statement. B. Amend the Purchase Agreement to extend the deadline (or, remove the requirement). C. Close the sale. D. None of the above. Correct answer :  “C.” Once the transaction closes . . . a Written Statement is moot. After all, “if it exists . . . it’s possible.” Translation:  if the Seller got their money, it’s all good. Seller Protection(s) if Buyer Can’t — or Won’t — Close So, what’s th...

Real Estate Terminology 101 “Final acceptance” sounds like something that happens in a hospice, or perhaps what Woody Allen has been seeking in therapy all these years. Fortunately, the real estate version is not so macabre:  it’s just a fancy way of saying, “Done Deal!” “Signed, Sealed, & (Constructively) Delivered” Specifically, “Final Acceptance” refers to when the Buyer and Seller have entered into a consummated contract (Purchase Agreement). In turn, that requires that everything has been has been signed by all parties, and constructively delivered (to the Buyer or Seller’s agent counts). The “Final Acceptance Date” is important because it starts the timer on how long the Buyer has to perform their inspection (a feature of almost all deals). “Not Sold Till It’s Sold” Of course, in multiple offers, Final Acceptance is also when the Buyer definitely-for-sure knows they have a deal. Short of that point — in theory, even one missing initial on the Purchase Agreement q...

Porous, Virtual Political Borders + Tsunami of Outside Money People who decry the outsized influence wielded by sparsely-populated states in the electoral college ( think , North & South Dakota, Wyoming, Montana, Idaho and Rhode Island) are missing a key point:  thanks to porous borders — and lax campaign finance laws — many of the elections in those states are dominated by outside money. And not just outside money, but money from the biggest and wealthiest states and metropolitan areas. The result? Instead of 435 putatively local elections for Congress every two years (plus 33 Senate seats), we’re morphing into an increasingly federalized political system. A system in which wealthy, populous states like California, New York, and Texas exert disproportionate influence that at least partially offsets their Electoral College disadvantage. Coming Soon(?): 535 National Elections The phenomenon of outside money can also be seen in sprawling...

Dear “Just Previewing” Realtor:  “Smile! You’re On Candid Camera!!”** [ Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] Here’s a news flash for skeptical home Sellers (or, maybe not):  not every showing — a one hour appointment during which a Realtor takes their client through a home — is necessarily done with a client in tow. Sometimes, it’s just the Realtor. Correctly called a “Preview,” it’s when a Realtor views a home on their own, then reports back to their client. Assuming they have one. Pre-Screening At least in my experience, the most common reason agents preview is to save their busy (or out-of-town) clients time checking out a property that doesn’t meet their (exacting) criteria. But, at least occasionally, agents preview to help a prospective listing client set their asking pric...

Retail vs. Wholesale Open Houses One of the best, early omens for a new listing is when agents leaving the Broker Open casually toss off compliments like “nice listing,” “good job!,” or simply “congratulations.” What’s another? When several newer, less experienced agents contact you, asking if they can hold a weekend open house at your listing. Sunday Open vs. Broker Tour As opposed to a “wholesale” open house — held for fellow Realtors each Tuesday, at least in the Twin Cities — weekend open houses are intended for a retail crowd. While many listing agents (myself included) like to do their own open’s, especially the first one or two, many experienced agents are happy to delegate weekend open’s. Hosting such open houses is a time-tested way for newer, less experienced agents to find unrepresented Buyers. Meanwhile, that frees up the (veteran) listing agent to work with their Buyer clients — or cover an open house at another listing — while still making sure that their clie...

“Opt-Out” Option for Home Sellers [ 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.] “Seller understands the prospective buyers and others authorized to access the Property may record the Property by photograph, video, or other medium while accessing the property.” –Standard 2017-2018 Minnesota Listing Contract, lines 51. – 52. Effective August 1, Minnesota’s standard listing agreement now puts Sellers on notice that prospective Buyers may take pictures or even recordings of their home. Sellers who are unsettled by that prospect can do which of the following: A. Strike that language from the listing contract; B. Instruct their listing agent to include verbiage in the MLS showing instructions prohibiting any recording of their home; C. Include such language in the “Agent Remarks” section on MLS; D. Post notic...

Weighing the Relative Risks of Action, Inaction Oddly, one of the best cases I’ve ever heard for The Precautionary Principle — in Tom Friedman’s NYT column yesterday, titled “Trump’s Folly” — never once mentions the term. No matter. Here’s the principle:  when considering a response to a looming threat, ask which way the risk(s) cut:  underestimating the problem, and consequently doing too little; or overestimating it, and potentially overreacting? Friedman offers this analogy:  “if we over-prepare for climate change and nothing much happens, it will be exactly like training for the Olympic marathon and the Olympics get canceled. You’re left with a body that is stronger, fitter and healthier.” “What’s the Downside?” When it comes to warding off climate change, the equivalent of a stronger, healthier body is a cleaner environment, and a stronger, more sustainable economy. Friedman again: “What if we prepare for disruptive climate change and it doesn’t get as bad a...

San Francisco real estate continues to operate in a land of full on self-indulged delusion and pseudo-tech worship.  I travel to the Bay Area and San Francisco often and the amount of self-delusion when it comes to real estate is amazing.  You will find all of these convoluted justifications as to why a crap shack […] from RSSMix.com Mix ID 8230700 http://ift.tt/2xfPYB9 via IFTTT

Minnesota Realtors Get With the (Post-August 1) Program What’s one of the best signs that the Twin Cities housing market is back at full throttle, post-Labor Day? (and back-to-school). It’s purely anecdotal, but my answer would that this post, “Sneak Peak: 2017-2018 Minnesota Real Estate Contract Changes, ” is getting more play ( read , hits) on Google. Mid-July vs. Late Sept. Originally run July 18, Minnesota Realtors weren’t exactly focused on prospective form changes then. After the effective date, August 1, my guess is that agents either delayed using the new forms, which was permissible if both parties agreed — or didn’t need to (because they weren’t that busy in August). Now, as the Fall market is in full swing, Minnesota agents are belatedly familiarizing themselves with the new format . . . and discovering my July post.   from RSSMix.com Mix ID 8230700 http://ift.tt/2ynPUzd via IFTTT

Admittedly, It was easier to get my dyslexic head around the original formulation:  a New Yorker magazine caption, underneath a cartoon drawing of one spouse catching the other “in the act,” that read, “Believe me, it’s not what it is.” Now, Bourbon distiller Maker’s Mark — or more accurately, their ad agency — has apparently decided to peddle a variation on that mantra (see above). My knee jerk reaction:  if you have to think too hard about it, it may not be the best marketing line . . . from RSSMix.com Mix ID 8230700 http://ift.tt/2fy3wAs via IFTTT

Means to an End (“Eyes on the Prize”) What do you suppose is the best way for a home Buyer to cure their breach of contract, for failing to deliver a timely Written Statement? (Note:  a Written Statement is the lender’s representation that the house has appraised, and the Buyer’s loan has been underwritten): A. Deliver the Written Statement. B. Amend the Purchase Agreement to extend the deadline (or, remove the requirement). C. Close the sale. D. None of the above. Correct answer:  “C.” Once the transaction closes . . . a Written Statement is moot. After all, “if it exists . . . it’s possible.” Translation:  if the Seller got their money, it’s all good. Seller Protection(s); Can’t — or Won’t — Close? So, what’s the point of the Written Statement then? In a nutshell, to protect Sellers in deals where there’s a hitch — two in fact: Specifically, Written Statements serve to:  1) to flush out a Buyer who can’t financially perform, relatively early in th...

Real Estate Terminology 101 “Final acceptance” sounds like something that happens in a hospice, or perhaps what Woody Allen has been seeking in therapy all these years. Fortunately, the real estate version is not so macabre:  it’s just a fancy way of saying, “Done Deal!” “Signed, Sealed, & (Constructively) Delivered” Specifically, “Final Acceptance” refers to when the Buyer and Seller have entered into a consummated contract (Purchase Agreement). In turn, that requires that everything has been has been signed by all parties, and constructively delivered (to the Buyer or Seller’s agent counts). The “Final Acceptance Date” is important because it starts the timer on how long the Buyer has to perform their inspection (a feature of almost all deals). “Not Sold Till It’s Sold” Of course, in multiple offers, Final Acceptance is also when the Buyer definitely-for-sure knows they have a deal. Short of that point — in theory, even one missing initial on the Purchase Agreement q...