Posts

Showing posts from February, 2018

Prospective Home Buyer Doesn’t Want to Go In? What Smart Agents Do Instead of Cancelling Showing

Image
Scrubbed Showings, or, “The Customer Home Buyer Is Always Right” Once in a while, prospective home Buyers know a house isn’t for them before their agent can even open the front door. The curb appeal (or lack thereof) is a turn-off**; the next-door-neighbor looks like they’re raising pit bulls (or collecting broken-down snowmobiles); or something else about the block just doesn’t sit right with them. As a Buyer’s agent, I never challenge my client’s bad vibe; on the contrary, I give them permission to move on as soon as they know any given home isn’t right for them (too, as a veteran agent, I’ve learned that clients’ — and my own(!) — bad vibes invariably turn out to be justified). Bad Vibe vs. Good Housing Karma In such situations, however, I follow the practice of my Edina Realty-City Lakes colleague, Kathy Dick. Instead of canceling the showing last-minute — sure to irk homeowners who went to the trouble of prepping (and perhaps even missing dinne...

Jerk Move in Linden Hills, Followed by Nice One

Image
“Not-So-Minnesota Nice” Leaving the always terrific Clancey’s butcher shop in Linden Hills yesterday, I was chagrined to discover a black BMW parked scarcely 3″ in front of my car, effectively boxing me in. Watching the situation unfold, Clancey’s busy owner, Kristin Tombers, came outside and introduced herself. Kristin offered a description of the offender, and we briefly discussed my going into the restaurant across the street (where she apparently went) to find her. Instead, I waited until the car behind me left, and I was able to pull out. Gratitude — and its Opposite In the meantime, to help cool me off, Kristin recommended an article she’d just read in this weekend’s Wall Street Journal , “ An Attitude of Gratitude ,” which discusses both gratitude and it’s opposite, entitlement. My favorite line from the piece: “when parents organize their lives around their kids, those kids expect everyone else to as well, and that leads to entitlement.” A big “Thank You!” to Kristin ....

Edina Realty’s Parent Co. Gets Nice Plug in Warren Buffett’s 2017 Letter to Shareholders

Image
3% (Market Share) Down, 97% to Go [ 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 Home Services, which is owned by Berkshire.] HomeServices, Edina Realty’s parent company, rates a positively fulsome four paragraphs in Warren Buffett’s most recent letter to Berkshire Hathaway shareholders . Readers of stock market tea leaves will further note that Mr. Buffett’s HomeServices remarks aren’t buried way down in the footnotes — the case in many previous years — but appear relatively near the beginning of his missive. Mr. Buffett enthuses: “I have told you several times about HomeServices, our growing real estate brokerage operation.  Berkshire backed into this business in 2000 when we acquired a majority interest of MidAmerican Energy (now named Berkshire Hathaway Energy). MidAmerican’s acitivities were then larg...

“Big (Snow)Shoes to Fill” — Realtor Version

Image
If you’re a prospective Twin Cities home buyer viewing “For Sale” homes the morning after a big snowstorm, you certainly hope that every home is already plowed and shoveled, and otherwise accessible. Plan B? Follow in the footsteps of your agent — and the imprint made by their size 13 Sorel boots (in this case, worn by yours truly).  P.S..: This being Minnesota, all but one of the 5 homes was ready for us. from RSSMix.com Mix ID 8230700 http://ift.tt/2CfgWhM via IFTTT

From “Winter Wonderland” to “What, Again!?!” in Three Weeks

Image
“Dog Days of Winter” Arrive in Twin Cities Even in a winter with too little snow ( yes , there is such a thing), successive February snowstorms — plus continuing arctic temp’s — have many locals crying “ no mas.” Which is problematic, given that the next big storm apparently is expected this weekend, scarcely 24 hours after last night’s 6″ dump. Gauging “The Kvetch Factor” One of the surest ways to gauge the severity of the current Winter is to monitor the locals’ grumbling about same (if you know Yiddish, substitute “kvetching” for “grumbling”). At least to my ear, this year’s crescendo is notable for its early start, and already loud volume. “Winter of Our Discontent” Minnesotans don’t really suffer “the dogs days of Summer” like people in warmer climes do:  it’s axiomatic that you have to have a Summer, before you can lament its passing. While Minnesota Summers can be surprisingly hot and humid, they’re also usually quite brief. Instead, about six month...

Closing Table Etiquette: Safe — and Taboo — Topics

Image
Test your real estate (and social) IQ, and see if you know which subjects are in-bounds — and out-of-bounds — for home Buyers and Sellers to discuss at closing: A.  The home’s selling price. B.  Any walk-thru inspection issues. C. The Buyer’s plans to remodel — or raze(!) — the home post-closing. D. Who the Seller uses for lawn care, snow removal, etc. E. The ages and genders of the Buyer’s children. F. Historical information about the block, neighborhood, etc. G. Which replacement filters the forced air furnace uses. Here’s the answer key: A. BIG no-no. Whether the ultimate selling price is perceived to be high (Buyers), low (Sellers), or just right (no one, ever ), once the Buyer’s Inspection Contingency has been removed, it’s water under the bridge. Especially if the negotiations were protracted or contentious, revisiting price can only serve to re-open (not-so-old) wounds. B. Unh-unh . While walk-thru inspection issues are by definiti...

“Pending” vs. “Assessed” vs. “Payable” vs. “Levied” . . . Huh?!?

Image
Best Advice to Home Sellers:  “Tell What You Know” Homeowners can be forgiven for not knowing the difference between a special assessment that’s “pending,” vs. one’s that “levied” — as opposed to one that is assessed and currently payable. Realtors have trouble keeping those terms straight as well. The best advice to give prospective home sellers regarding any pending special assessments — typically in connection with such things as new curbs, sidewalks, sewers, etc. — is simply to tell prospective Buyers what they know, as they know it. Then, all the parties and professionals involved in the deal — and especially the title folks, who are expert in such issues — can sort it out. Just as with the Seller’s Disclosure (concerning the home’s condition), no one ever got sued for over-disclosing. from RSSMix.com Mix ID 8230700 http://ift.tt/2FCN0Ll via IFTTT

Prospective Home Buyer Doesn’t Want to Go In? What Smart Agents Do Instead of Cancelling Showing

Image
Scrubbed Showings, or, “The Customer Home Buyer Is Always Right” Once in a while, prospective home Buyers know a house isn’t for them before their agent can even open the front door. The curb appeal (or lack thereof) is a turn-off**; the next-door-neighbor looks like they’re raising pit bulls (or collecting broken-down snowmobiles); or something else about the block just doesn’t sit right with them. As a Buyer’s agent, I never challenge my client’s bad vibe; on the contrary, I give them permission to move on as soon as they know any given home isn’t right for them (too, as a veteran agent, I’ve learned that clients’ — and my own(!) — bad vibes invariably turn out to be justified). Bad Vibe vs. Good Housing Karma In such situations, however, I follow the practice of my Edina Realty-City Lakes colleague, Kathy Dick. Instead of canceling the showing last-minute — sure to irk homeowners who went to the trouble of prepping (and perhaps even missing dinne...

Jerk Move in Linden Hills, Followed by Nice One

Image
“Not-So-Minnesota Nice” Leaving the always terrific Clancey’s butcher shop in Linden Hills yesterday, I was chagrined to discover a black BMW parked scarcely 3″ in front of my car, effectively boxing me in. Watching the situation unfold, Clancey’s busy owner, Kristin Tombers, came outside and introduced herself. Kristin offered a description of the offender, and we briefly discussed my going into the restaurant across the street (where she apparently went) to find her. Instead, I waited until the car behind me left, and I was able to pull out. Gratitude — and its Opposite In the meantime, to help cool me off, Kristin recommended an article she’d just read in this weekend’s Wall Street Journal , “ An Attitude of Gratitude ,” which discusses both gratitude and it’s opposite, entitlement. My favorite line from the piece: “when parents organize their lives around their kids, those kids expect everyone else to as well, and that leads to entitlement.” A big “Thank You!” to Kristin ....

Edina Realty’s Parent Co. Gets Nice Plug in Warren Buffett’s 2017 Letter to Shareholders

Image
3% (Market Share) Down, 97% to Go [ 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 Home Services, which is owned by Berkshire.] HomeServices, Edina Realty’s parent company, rates a positively fulsome four paragraphs in Warren Buffett’s most recent letter to Berkshire Hathaway shareholders . Readers of stock market tea leaves will further note that Mr. Buffett’s HomeServices remarks aren’t buried way down in the footnotes — the case in many previous years — but appear relatively near the beginning of his missive. Mr. Buffett enthuses: “I have told you several times about HomeServices, our growing real estate brokerage operation.  Berkshire backed into this business in 2000 when we acquired a majority interest of MidAmerican Energy (now named Berkshire Hathaway Energy). MidAmerican’s acitivities were then larg...

“Big (Snow)Shoes to Fill” — Realtor Version

Image
If you’re a prospective Twin Cities home buyer viewing “For Sale” homes the morning after a big snowstorm, you certainly hope that every home is already plowed and shoveled, and otherwise accessible. Plan B? Follow in the footsteps of your agent — and the imprint made by their size 13 Sorel boots (in this case, worn by yours truly).  P.S..: This being Minnesota, all but one of the 5 homes was ready for us. from RSSMix.com Mix ID 8230700 http://ift.tt/2CfgWhM via IFTTT

From “Winter Wonderland” to “What, Again!?!” in Three Weeks

Image
“Dog Days of Winter” Arrive in Twin Cities Even in a winter with too little snow ( yes , there is such a thing), successive February snowstorms — plus continuing arctic temp’s — have many locals crying “ no mas.” Which is problematic, given that the next big storm apparently is expected this weekend, scarcely 24 hours after last night’s 6″ dump. Gauging “The Kvetch Factor” One of the surest ways to gauge the severity of the current Winter is to monitor the locals’ grumbling about same (if you know Yiddish, substitute “kvetching” for “grumbling”). At least to my ear, this year’s crescendo is notable for its early start, and already loud volume. “Winter of Our Discontent” Minnesotans don’t really suffer “the dogs days of Summer” like people in warmer climes do:  it’s axiomatic that you have to have a Summer, before you can lament its passing. While Minnesota Summers can be surprisingly hot and humid, they’re also usually quite brief. Instead, about six month...

Closing Table Etiquette: Safe — and Taboo — Topics

Image
Test your real estate (and social) IQ, and see if you know which subjects are in-bounds — and out-of-bounds — for home Buyers and Sellers to discuss at closing: A.  The home’s selling price. B.  Any walk-thru inspection issues. C. The Buyer’s plans to remodel — or raze(!) — the home post-closing. D. Who the Seller uses for lawn care, snow removal, etc. E. The ages and genders of the Buyer’s children. F. Historical information about the block, neighborhood, etc. G. Which replacement filters the forced air furnace uses. Here’s the answer key: A. BIG no-no. Whether the ultimate selling price is perceived to be high (Buyers), low (Sellers), or just right (no one, ever ), once the Buyer’s Inspection Contingency has been removed, it’s water under the bridge. Especially if the negotiations were protracted or contentious, revisiting price can only serve to re-open (not-so-old) wounds. B. Unh-unh . While walk-thru inspection issues are by definiti...

Award Winner!

Image
  “Mazel Tov to Heilicher seventh grade student Johanna Kaplan on her Minnesota Scholastic Art Award. Her acrylic painting, ‘Plaid Abstraction,’ won the Gold Key Award for Grade 7 & 8 Painting. Johanna’s piece will move on to the national competition. We wish her the best!” –Minneapolis Jewish Day School Website. That’s my daughter pictured above in front of her painting, “Plaid Abstraction.” That’s also her (below) in front of another artist’s work, at the Blanton Museum of Art in Austin, Texas, earlier this Winter. P.S.: Congrats as well to the Day School’s Vic Thor, who nominated Johanna’s work, and has served as a mentor to her. from RSSMix.com Mix ID 8230700 http://ift.tt/2od83MS via IFTTT

Price Reductions: a First Chance to Make a Second Impression

Image
When?  How Much? If an otherwise well-staged, well-marketed home isn’t selling after a reasonable interval on the market**, a price reduction is invariably indicated. How big? It all depends on how overpriced the home appears to be. Toss Out the CMA Once a home is actually on the market, interest from prospective Buyers — or lack thereof, if there are few or no showings — trumps pre-market research. So, even if the listing agent’s Comparative Market Analysis (“CMA”) suggests that a given home is a good value, if there are dozens of showings and no offers (or even second showings!) . . . cold, hard empirical reality would strongly suggest otherwise. How much to cut is very much a subjective call, and based on experience. Practically, it also depends on the Seller, who may not be willing to reduce the price at all . However, in my experience, just like every deal negotiation has its own rhythm and feel, so does every listing. How Strong a “Pulse?” At one end of the continu...

“Pending” vs. “Assessed” vs. “Payable” vs. “Levied” . . . Huh?!?

Image
Best Advice to Home Sellers:  “Tell What You Know” Homeowners can be forgiven for not knowing the difference between a special assessment that’s “pending,” vs. one’s that “levied” — as opposed to one that is assessed and currently payable. Realtors have trouble keeping those terms straight as well. The best advice to give prospective home sellers regarding any pending special assessments — typically in connection with such things as new curbs, sidewalks, sewers, etc. — is simply to tell prospective Buyers what they know, as they know it. Then, all the parties and professionals involved in the deal — and especially the title folks, who are expert in such issues — can sort it out. Just as with the Seller’s Disclosure (concerning the home’s condition), no one ever got sued for over-disclosing. from RSSMix.com Mix ID 8230700 http://ift.tt/2FCN0Ll via IFTTT

Prospective Home Buyer Doesn’t Want to Go In? What Smart Agents Do Instead of Cancelling Showing

Image
Scrubbed Showings, or, “The Customer Home Buyer Is Always Right” Once in a while, prospective home Buyers know a house isn’t for them before their agent can even open the front door. The curb appeal (or lack thereof) is a turn-off**; the next-door-neighbor looks like they’re raising pit bulls (or collecting broken-down snowmobiles); or something else about the block just doesn’t sit right with them. As a Buyer’s agent, I never challenge my client’s bad vibe; on the contrary, I give them permission to move on as soon as they know any given home isn’t right for them (too, as a veteran agent, I’ve learned that clients’ — and my own(!) — bad vibes invariably turn out to be justified). Bad Vibe vs. Good Housing Karma In such situations, however, I follow the practice of my Edina Realty-City Lakes colleague, Kathy Dick. Instead of canceling the showing last-minute — sure to irk homeowners who went to the trouble of prepping (and perhaps even missing dinne...

Jerk Move in Linden Hills, Followed by Nice One

Image
“Not-So-Minnesota Nice” Leaving the always terrific Clancey’s butcher shop in Linden Hills yesterday, I was chagrined to discover a black BMW parked scarcely 3″ in front of my car, effectively boxing me in. Watching the situation unfold, Clancey’s busy owner, Kristin Tombers, came outside and introduced herself. Kristin offered a description of the offender, and we briefly discussed my going into the restaurant across the street (where she apparently went) to find her. Instead, I waited until the car behind me left, and I was able to pull out. Gratitude — and its Opposite In the meantime, to help cool me off, Kristin recommended an article she’d just read in this weekend’s Wall Street Journal , “ An Attitude of Gratitude ,” which discusses both gratitude and it’s opposite, entitlement. My favorite line from the piece: “when parents organize their lives around their kids, those kids expect everyone else to as well, and that leads to entitlement.” A big “Thank You!” to Kristin ....

Edina Realty’s Parent Co. Gets Nice Plug in Warren Buffett’s 2017 Letter to Shareholders

Image
3% (Market Share) Down, 97% to Go [ 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 Home Services, which is owned by Berkshire.] HomeServices, Edina Realty’s parent company, rates a positively fulsome four paragraphs in Warren Buffett’s most recent letter to Berkshire Hathaway shareholders . Readers of stock market tea leaves will further note that Mr. Buffett’s HomeServices remarks aren’t buried way down in the footnotes — the case in many previous years — but appear relatively near the beginning of his missive. Mr. Buffett enthuses: “I have told you several times about HomeServices, our growing real estate brokerage operation.  Berkshire backed into this business in 2000 when we acquired a majority interest of MidAmerican Energy (now named Berkshire Hathaway Energy). MidAmerican’s acitivities were then larg...

“Big (Snow)Shoes to Fill” — Realtor Version

Image
If you’re a prospective Twin Cities home buyer viewing “For Sale” homes the morning after a big snowstorm, you certainly hope that every home is already plowed and shoveled, and otherwise accessible. Plan B? Follow in the footsteps of your agent — and the imprint made by their size 13 Sorel boots (in this case, worn by yours truly).  P.S..: This being Minnesota, all but one of the 5 homes was ready for us. from RSSMix.com Mix ID 8230700 http://ift.tt/2CfgWhM via IFTTT

From “Winter Wonderland” to “What, Again!?!” in Three Weeks

Image
“Dog Days of Winter” Arrive in Twin Cities Even in a winter with too little snow ( yes , there is such a thing), successive February snowstorms — plus continuing arctic temp’s — have many locals crying “ no mas.” Which is problematic, given that the next big storm apparently is expected this weekend, scarcely 24 hours after last night’s 6″ dump. Gauging “The Kvetch Factor” One of the surest ways to gauge the severity of the current Winter is to monitor the locals’ grumbling about same (if you know Yiddish, substitute “kvetching” for “grumbling”). At least to my ear, this year’s crescendo is notable for its early start, and already loud volume. “Winter of Our Discontent” Minnesotans don’t really suffer “the dogs days of Summer” like people in warmer climes do:  it’s axiomatic that you have to have a Summer, before you can lament its passing. While Minnesota Summers can be surprisingly hot and humid, they’re also usually quite brief. Instead, about six month...

Closing Table Etiquette: Safe — and Taboo — Topics

Image
Test your real estate (and social) IQ, and see if you know which subjects are in-bounds — and out-of-bounds — for home Buyers and Sellers to discuss at closing: A.  The home’s selling price. B.  Any walk-thru inspection issues. C. The Buyer’s plans to remodel — or raze(!) — the home post-closing. D. Who the Seller uses for lawn care, snow removal, etc. E. The ages and genders of the Buyer’s children. F. Historical information about the block, neighborhood, etc. G. Which replacement filters the forced air furnace uses. Here’s the answer key: A. BIG no-no. Whether the ultimate selling price is perceived to be high (Buyers), low (Sellers), or just right (no one, ever ), once the Buyer’s Inspection Contingency has been removed, it’s water under the bridge. Especially if the negotiations were protracted or contentious, revisiting price can only serve to re-open (not-so-old) wounds. B. Unh-unh . While walk-thru inspection issues are by definiti...

Award Winner!

Image
  “Mazel Tov to Heilicher seventh grade student Johanna Kaplan on her Minnesota Scholastic Art Award. Her acrylic painting, ‘Plaid Abstraction,’ won the Gold Key Award for Grade 7 & 8 Painting. Johanna’s piece will move on to the national competition. We wish her the best!” –Minneapolis Jewish Day School Website. That’s my daughter pictured above in front of her painting, “Plaid Abstraction.” That’s also her (below) in front of another artist’s work, at the Blanton Museum of Art in Austin, Texas, earlier this Winter. P.S.: Congrats as well to the Day School’s Vic Thor, who nominated Johanna’s work, and has served as a mentor to her. from RSSMix.com Mix ID 8230700 http://ift.tt/2od83MS via IFTTT

Price Reductions: a First Chance to Make a Second Impression

Image
When?  How Much? If an otherwise well-staged, well-marketed home isn’t selling after a reasonable interval on the market**, a price reduction is invariably indicated. How big? It all depends on how overpriced the home appears to be. Toss Out the CMA Once a home is actually on the market, interest from prospective Buyers — or lack thereof, if there are few or no showings — trumps pre-market research. So, even if the listing agent’s Comparative Market Analysis (“CMA”) suggests that a given home is a good value, if there are dozens of showings and no offers (or even second showings!) . . . cold, hard empirical reality would strongly suggest otherwise. How much to cut is very much a subjective call, and based on experience. Practically, it also depends on the Seller, who may not be willing to reduce the price at all . However, in my experience, just like every deal negotiation has its own rhythm and feel, so does every listing. How Strong a “Pulse?” At one end of the continu...

Prospective Home Buyer Doesn’t Want to Go In? What Smart Agents Do Instead of Cancelling Showing

Image
Scrubbed Showings, or, “The Customer Home Buyer Is Always Right” Once in a while, prospective home Buyers know a house isn’t for them before their agent can even open the front door. The curb appeal (or lack thereof) is a turn-off**; the next-door-neighbor looks like they’re raising pit bulls (or collecting broken-down snowmobiles); or something else about the block just doesn’t sit right with them. As a Buyer’s agent, I never challenge my client’s bad vibe; on the contrary, I give them permission to move on as soon as they know any given home isn’t right for them (too, as a veteran agent, I’ve learned that clients’ — and my own(!) — bad vibes invariably turn out to be justified). Bad Vibe vs. Good Housing Karma In such situations, however, I follow the practice of my Edina Realty-City Lakes colleague, Kathy Dick. Instead of canceling the showing last-minute — sure to irk homeowners who went to the trouble of prepping (and perhaps even missing dinne...

Jerk Move in Linden Hills, Followed by Nice One

Image
“Not-So-Minnesota Nice” Leaving the always terrific Clancey’s butcher shop in Linden Hills yesterday, I was chagrined to discover a black BMW parked scarcely 3″ in front of my car, effectively boxing me in. Watching the situation unfold, Clancey’s busy owner, Kristin Tombers, came outside and introduced herself. Kristin offered a description of the offender, and we briefly discussed my going into the restaurant across the street (where she apparently went) to find her. Instead, I waited until the car behind me left, and I was able to pull out. Gratitude — and its Opposite In the meantime, to help cool me off, Kristin recommended an article she’d just read in this weekend’s Wall Street Journal , “ An Attitude of Gratitude ,” which discusses both gratitude and it’s opposite, entitlement. My favorite line from the piece: “when parents organize their lives around their kids, those kids expect everyone else to as well, and that leads to entitlement.” A big “Thank You!” to Kristin ....

Edina Realty’s Parent Co. Gets Nice Plug in Warren Buffett’s 2017 Letter to Shareholders

Image
3% (Market Share) Down, 97% to Go [ 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 Home Services, which is owned by Berkshire.] HomeServices, Edina Realty’s parent company, rates a positively fulsome four paragraphs in Warren Buffett’s most recent letter to Berkshire Hathaway shareholders . Readers of stock market tea leaves will further note that Mr. Buffett’s HomeServices remarks aren’t buried way down in the footnotes — the case in many previous years — but appear relatively near the beginning of his missive. Mr. Buffett enthuses: “I have told you several times about HomeServices, our growing real estate brokerage operation.  Berkshire backed into this business in 2000 when we acquired a majority interest of MidAmerican Energy (now named Berkshire Hathaway Energy). MidAmerican’s acitivities were then larg...

“Big (Snow)Shoes to Fill” — Realtor Version

Image
If you’re a prospective Twin Cities home buyer viewing “For Sale” homes the morning after a big snowstorm, you certainly hope that every home is already plowed and shoveled, and otherwise accessible. Plan B? Follow in the footsteps of your agent — and the imprint made by their size 13 Sorel boots (in this case, worn by yours truly).  P.S..: This being Minnesota, all but one of the 5 homes was ready for us. from RSSMix.com Mix ID 8230700 http://ift.tt/2CfgWhM via IFTTT

From “Winter Wonderland” to “What, Again!?!” in Three Weeks

Image
“Dog Days of Winter” Arrive in Twin Cities Even in a winter with too little snow ( yes , there is such a thing), successive February snowstorms — plus continuing arctic temp’s — have many locals crying “ no mas.” Which is problematic, given that the next big storm apparently is expected this weekend, scarcely 24 hours after last night’s 6″ dump. Gauging “The Kvetch Factor” One of the surest ways to gauge the severity of the current Winter is to monitor the locals’ grumbling about same (if you know Yiddish, substitute “kvetching” for “grumbling”). At least to my ear, this year’s crescendo is notable for its early start, and already loud volume. “Winter of Our Discontent” Minnesotans don’t really suffer “the dogs days of Summer” like people in warmer climes do:  it’s axiomatic that you have to have a Summer, before you can lament its passing. While Minnesota Summers can be surprisingly hot and humid, they’re also usually quite brief. Instead, about six month...

Closing Table Etiquette: Safe — and Taboo — Topics

Image
Test your real estate (and social) IQ, and see if you know which subjects are in-bounds — and out-of-bounds — for home Buyers and Sellers to discuss at closing: A.  The home’s selling price. B.  Any walk-thru inspection issues. C. The Buyer’s plans to remodel — or raze(!) — the home post-closing. D. Who the Seller uses for lawn care, snow removal, etc. E. The ages and genders of the Buyer’s children. F. Historical information about the block, neighborhood, etc. G. Which replacement filters the forced air furnace uses. Here’s the answer key: A. BIG no-no. Whether the ultimate selling price is perceived to be high (Buyers), low (Sellers), or just right (no one, ever ), once the Buyer’s Inspection Contingency has been removed, it’s water under the bridge. Especially if the negotiations were protracted or contentious, revisiting price can only serve to re-open (not-so-old) wounds. B. Unh-unh . While walk-thru inspection issues are by definiti...

Award Winner!

Image
  “Mazel Tov to Heilicher seventh grade student Johanna Kaplan on her Minnesota Scholastic Art Award. Her acrylic painting, ‘Plaid Abstraction,’ won the Gold Key Award for Grade 7 & 8 Painting. Johanna’s piece will move on to the national competition. We wish her the best!” –Minneapolis Jewish Day School Website. That’s my daughter pictured above in front of her painting, “Plaid Abstraction.” That’s also her (below) in front of another artist’s work, at the Blanton Museum of Art in Austin, Texas, earlier this Winter. P.S.: Congrats as well to the Day School’s Vic Thor, who nominated Johanna’s work, and has served as a mentor to her. from RSSMix.com Mix ID 8230700 http://ift.tt/2od83MS via IFTTT

Price Reductions: a First Chance to Make a Second Impression

Image
When?  How Much? If an otherwise well-staged, well-marketed home isn’t selling after a reasonable interval on the market**, a price reduction is invariably indicated. How big? It all depends on how overpriced the home appears to be. Toss Out the CMA Once a home is actually on the market, interest from prospective Buyers — or lack thereof, if there are few or no showings — trumps pre-market research. So, even if the listing agent’s Comparative Market Analysis (“CMA”) suggests that a given home is a good value, if there are dozens of showings and no offers (or even second showings!) . . . cold, hard empirical reality would strongly suggest otherwise. How much to cut is very much a subjective call, and based on experience. Practically, it also depends on the Seller, who may not be willing to reduce the price at all . However, in my experience, just like every deal negotiation has its own rhythm and feel, so does every listing. How Strong a “Pulse?” At one end of the continu...

Prospective Home Buyer Doesn’t Want to Go In? What Smart Agents Do Instead of Cancelling Showing

Image
Scrubbed Showings, or, “The Customer Home Buyer Is Always Right” Once in a while, prospective home Buyers know a house isn’t for them before their agent can even open the front door. The curb appeal (or lack thereof) is a turn-off**; the next-door-neighbor looks like they’re raising pit bulls (or collecting broken-down snowmobiles); or something else about the block just doesn’t sit right with them. As a Buyer’s agent, I never challenge my client’s bad vibe; on the contrary, I give them permission to move on as soon as they know any given home isn’t right for them (too, as a veteran agent, I’ve learned that clients’ — and my own(!) — bad vibes invariably turn out to be justified). Bad Vibe vs. Good Housing Karma In such situations, however, I follow the practice of my Edina Realty-City Lakes colleague, Kathy Dick. Instead of canceling the showing last-minute — sure to irk homeowners who went to the trouble of prepping (and perhaps even missing dinne...

Jerk Move in Linden Hills, Followed by Nice One

Image
“Not-So-Minnesota Nice” Leaving the always terrific Clancey’s butcher shop in Linden Hills yesterday, I was chagrined to discover a black BMW parked scarcely 3″ in front of my car, effectively boxing me in. Watching the situation unfold, Clancey’s busy owner, Kristin Tombers, came outside and introduced herself. Kristin offered a description of the offender, and we briefly discussed my going into the restaurant across the street (where she apparently went) to find her. Instead, I waited until the car behind me left, and I was able to pull out. Gratitude — and its Opposite In the meantime, to help cool me off, Kristin recommended an article she’d just read in this weekend’s Wall Street Journal , “ An Attitude of Gratitude ,” which discusses both gratitude and it’s opposite, entitlement. My favorite line from the piece: “when parents organize their lives around their kids, those kids expect everyone else to as well, and that leads to entitlement.” A big “Thank You!” to Kristin ....