Robert Guthridge's Blog

Here’s some unsolicited advice for Democrats and their supporters:  if you want to win the midterms next week (never mind the White House in 2020), figure out how to make an emotional — not intellectual — connection with voters. Think , more Teddy Roosevelt, less Adlai Stevenson. In a nutshell, that was my reaction to Ross Douthat’s piece in today’s NYT , titled, “Trump Plays His Greatest Hits.” To a paraphrase the line from Jerry Maguire , “you lost me at, ‘identitarian demagogy and policy heterodoxy.'” See also , “ 2011 Man of the Year: Teddy Roosevelt .” from RSSMix.com Mix ID 8230700 https://ift.tt/2yGdqt1 via IFTTT

Listing Agent Retort: “I’ll Tell You Right After You Tell Me How High the Buyer is Willing to Go” You (almost) never hear a listing agent (representing a Seller) say to a Buyer’s agent at the outset of negotiations: “let’s cut to the chase; what’s the most your Buyer will pay for my client’s property?” So, why do Buyers’ agents — or at least inexperienced ones — feel emboldened to ask listing agents, “so, what’s your client’s real bottom line here?” Or perhaps more to the point: what good listing agent — assuming they knew the answer — is going to spill?? (in fact, the three cards you never show in real estate negotiation are your client’s price, terms, and motivation). “Lowish” vs. “Lowball” You certainly can’t blame Buyers for verbally probing a Seller’s bottom line, prior to making a written offer. Besides trying to flush out a motivated Seller, it’s about saving time: if the Seller isn’t amenable to a low offer, the would-be lowballer saves time writing it up (not 3 hours, b...

Who’s on First?” — Real Estate Edition [ 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.] Exactly what role(s) do licensees, principals, agents, subagents, brokers, dual agents, and facilitators play in residential real estate in Minnesota? Consumers, I’m sure, have no idea. But their Realtor does. Moreover, it’s incumbent upon their Realtor to (briefly) explain it to them, at the beginning of the relationship. Step #2:  document that they’ve discussed the subject with their prospective client, by having them sign something called the “Agency Relationships in Real Estate Transactions.” “Just Sign Initial Here” Even though the form is only a (state-mandated) disclosure, not a contract, at least some consumers balk at signing it. In that case, savvy agents write...

Sure, sure , Realtors show support for their colleagues any number of ways. They include: –Offering price opinions on about-to-be-listed homes; –Offering price opinions on homes that are already on the market (and not selling) — plus, ideally, some marketing suggestions. –Simply offering a sympathetic (and discreet) ear when a colleague is wrestling with a challenging issue. However, at least in everyday usage, when Realtors talk about “showing support” for fellow agents, they typically mean one, specific thing:  showing up at the colleague’s Broker Open’s, and — when applicable — any Exceptional Properties meetings that they host. See also , “ S.W.A.T. Team,” Real Estate Edition “; “ 2nd Chances, 1st Impressions & Broker Tour “; and “ Embellishing Attendance at a Broker Open .” from RSSMix.com Mix ID 8230700 https://ift.tt/2q5nDdY via IFTTT

All Eyes on the Fed How will rocky stocks — down another 2% in early trading today — affect the housing market? My knee-jerk response is to cite Chinese leader Mao Zedong, who, when asked (in 1950), “What’s the significance of the French Revolution?,” responded, “it’s too soon too tell.” So, if stocks quickly rebound in the next few days or even weeks . . . I see little effect. But what if stocks enter a correction or even a bear market from here? Then, I anticipate two consequences for housing: One . Upper bracket housing will be affected disproportionately because of what economists call “the wealth effect.” That’s because the stock market impacts the balance sheet(s) of upper bracket home buyers and sellers more than other strata. If their wealth takes a hit . . . so does their purchasing power. Two . Lower interest rates. Called the “Fed Put,” the phenomenon refers to the Fed doing whatever it can to support the stock market when it experiences se...

[ Editor’s Note :  You know there are a lot of recent storms — and storm damage — when a post that originally appeared 5 years ago suddenly starts getting hits.  I’m re-running the post (below) as a service to anyone who’s digging out from under. My sympathies . . .] I don’t usually associate “balls” with something 6′-plus in diameter. And, there’s not much spherical about it. But, tree removal services’ name for the tree stump and everything attached to it is “root ball” (the trunk of the tree — or what’s left of it — lies at angle to the right). Lots more like these visible all over the Twin Cities at the moment. from RSSMix.com Mix ID 8230700 https://ift.tt/2R97iAC via IFTTT

What’s behind gyrating stocks the last two weeks ago or so? Here are two theories: One . Age-old human emotion — fickle, fear-and-greed driven human psychology — is the culprit. In particular, less experienced “retail” investors who chased high-flying tech stocks, and are now freaking out. Or, late-to-the-party investors who used borrowed money (called, “buying on margin”) to pay for stocks — and now have to put up more cash, or see their positions liquidated. Two . The volatility is due to a complete lack of human involvement, i.e., trading ‘bots and algorithms are behind the wild market moves. Having seen variations of this movie many, many times before, I’m guessing that theory #2 is closer to the truth. That’s because more and more of the supposedly unsophisticated shareholders are now invested in passive, buy-and-hold index funds, which damps down panic buying and selling. See also , “ How Will Rocky Stock Market Affect Housing? “ from RSSMix.com Mix ID 8230700 https...

When you’re Jewish, the proverbial “six degrees of separation” seldom apply. In reality, it’s often two degrees, or even one. The missive below is from my wife’s best friend growing up (and still one of her closest friends), who lives in Pittsburgh’s Squirrel Hill neighborhood, down the block from where 11 Jews were murdered in synagogue Saturday morning: “To all of those who are not in my local community: First, and most important, thank you all for your support, your messages, frequent check ins, words of love..it is all so greatly appreciated in these dark days.   While you may see a lot of this on the news (which I rarely watch and when I do check . . . it is the most surreal thing to see my friends, neighbors, Rabbis being interviewed, dear friends on the front page of the websites of  international news and my neighborhood as center stage) I want to share with you my view of it.  Here . . . it feels like a local tragedy . . . our community, our neighbors, but t...

Also Known as “Splash Stick,” “Lid Sip Hole Plug,” & “Green Thing” (Just Don’t Call it a “Swizzle Stick”) Want to know why you can get one of those “dip sticks” (my term) at Starbucks — but not at Caribou, Dunn Bros., or other coffee chain? Starbucks has a patent on it. Or more specifically, one of their customers does. Adding salt creamer to the wound:  according to at least one Starbucks barista (server), the inventor made a fortune on it. Invention #2 My other “Why didn’t I think of that??” invention:  highway “median strips” — those things that make you think you have a flat tire when you cross the median or veer onto the shoulder. How many of those do you suppose have been sold to state and federal highway departments? Coming next:  “smart” median strips, that communicate with driver-less, high-tech cars. See also , “Is That a Rorschach Ink Blot in My Starbucks Marble Cake? “ from RSSMix.com Mix ID 8230700 https://ift.tt/2z51zUM via IFTTT

Sizing Up — Quickly — Restaurant Real Estate (the Inside Kind) OK, so I can’t prove that Realtors get better tables at restaurants. But, I’ve got a hunch that they/we at least know where they are . Casing the Room, or “Location, Location, Location” That’s because the ability to quickly size up the key spaces in a home overlaps nicely with the ability to survey a restaurant’s layout, and instantly divine the best spots. Of course, “the best spots” depends on what you’re looking for:  privacy, people-watching, or perhaps something else altogether (if you’ve got one or more bickering or crying kids — and are determined to stick it out — sometimes the loudest part of the restaurant is best** ). Different Agendas Not sure what to go for? A quick rule of thumb is to rule out the least desirable locations. Those would be anything near the entrance, bathrooms, or too close to the Kitchen — coincidentally or not, what many restaurants seem to try to give away...

What’s the Discount for a Haunted House? In a decade-plus selling real estate, I’ve yet to see an open house — at least in real life — on Halloween. The fictional Halloween open house? On TV sitcom “ Modern Family ,” where Realtor Phil Dunphy decides to capitalize on all the foot traffic in the neighborhood. It serves the episode’s plot line — Claire Dunphy turns out to be an over-the-top scaremonger — but not the (fictional) home seller’s. from RSSMix.com Mix ID 8230700 https://ift.tt/2JjmZCw via IFTTT

The Problem(s) With Blind Solicitations In a housing market characterized by still-scarce inventory and frustrated Buyers, especially at lower price points, it seems like an obvious tactic (if not smart Realtor marketing):  proactive Buyers’ agents who send a blind letter to a targeted block or neighborhood inquiring whether anyone is contemplating selling. While I know colleagues who claim this has worked, personally, I haven’t had any success the 4-5 times I’ve done it over the years. The problem? (besides warranted Seller skepticism). In a word, motivation. “Make Me an Offer” If the homeowner is indeed open to selling, their timetable is months (or years) in the future. Or . . . surprise, surprise , their asking price is 25% (or 100%) over market value.** Making that aggressive price especially unpalatable:  unmotivated Sellers seldom see the need to stage or otherwise prep their homes, and can balk at such routine tasks as completing the Seller’s Disclosure, or ar...

Listing Agent Retort: “I’ll Tell You Right After You Tell Me How High the Buyer is Willing to Go” You (almost) never hear a listing agent (representing a Seller) say to a Buyer’s agent at the outset of negotiations: “let’s cut to the chase; what’s the most your Buyer will pay for my client’s property?” So, why do Buyers’ agents — or at least inexperienced ones — feel emboldened to ask listing agents, “so, what’s your client’s real bottom line here?” Or perhaps more to the point: what good listing agent — assuming they knew the answer — is going to spill?? (in fact, the three cards you never show in real estate negotiation are your client’s price, terms, and motivation). “Lowish” vs. “Lowball” You certainly can’t blame Buyers for verbally probing a Seller’s bottom line, prior to making a written offer. Besides trying to flush out a motivated Seller, it’s about saving time: if the Seller isn’t amenable to a low offer, the would-be lowballer saves time writing it up (not 3 hours, b...

Last week, I bought my 22nd rental property. It was a commercial property that was previously used as a restaurant. The property is not very large, and the lot is tiny, but it is in a great location. This is the second rental property I have bought this year, the first being a 68,000-square-foot strip mall. I bought the largest and smallest rentals I own in the same year. This property should be a great investment, but I have never tried to lease to a restaurant before. How many rental properties do I have and what are they? While this The post Rental Property Number 22 Has Been Purchased appeared first on InvestFourMore . from RSSMix.com Mix ID 8230700 https://ift.tt/2yxbl2w via IFTTT

Who’s on First?” — Real Estate Edition Exactly what role(s) do licensees, principals, agents, subagents, brokers, dual agents, and facilitators play in residential real estate in Minnesota? Consumers, I’m sure, have no idea. But their Realtor does. Moreover, it’s incumbent upon their Realtor to (briefly) explain it to them, at the beginning of the relationship. Step #2:  document that they’ve discussed the subject with their prospective client, by having them sign something called the “Agency Relationships in Real Estate Transactions.” “Just Sign Initial Here” Even though the form is only a (state-mandated) disclosure, not a contract, at least some consumers balk at signing it. In that case, savvy agents write something like the following on the form, “I choose not to acknowledge receipt at this time,” then have the prospect initial that . See also , “ Delivering the Realtor “Miranda Warning” in an Online World “; “ Perils of Dual...

Sure, sure , Realtors show support for their colleagues any number of ways. They include: –Offering price opinions on about-to-be-listed homes; –Offering price opinions on homes that are already on the market (and not selling) — plus, ideally, some marketing suggestions. –Simply offering a sympathetic (and discreet) ear when a colleague is wrestling with a challenging issue. However, at least in everyday usage, when Realtors talk about “showing support” for fellow agents, they typically mean one, specific thing:  showing up at the colleague’s Broker Open’s, and — when applicable — any Exceptional Properties meetings that they host. See also , “ S.W.A.T. Team,” Real Estate Edition “; “ 2nd Chances, 1st Impressions & Broker Tour “; and “ Embellishing Attendance at a Broker Open .” from RSSMix.com Mix ID 8230700 https://ift.tt/2q5nDdY via IFTTT

All Eyes on the Fed How will rocky stocks — down another 2% in early trading today — affect the housing market? My knee-jerk response is to cite Chinese leader Mao Zedong, who, when asked (in 1950), “What’s the significance of the French Revolution?,” responded, “it’s too soon too tell.” So, if stocks quickly rebound in the next few days or even weeks . . . I see little effect. But what if stocks enter a correction or even a bear market from here? Then, I anticipate two consequences for housing: One . Upper bracket housing will be affected disproportionately because of the wealth effect. That’s because the stock market impacts the balance sheet(s) of upper bracket home buyers and sellers more than other strata. If their wealth takes a hit . . . so does their purchasing power. Two . Lower interest rates. Called the “Fed Put,” the phenomenon refers to the Fed doing whatever it can to support the stock market when it experiences selling pressure. The mo...

[ Editor’s Note :  You know there are a lot of recent storms — and storm damage — when a post that originally appeared 5 years ago suddenly starts getting hits.  I’m re-running the post (below) as a service to anyone who’s digging out from under. My sympathies . . .] I don’t usually associate “balls” with something 6′-plus in diameter. And, there’s not much spherical about it. But, tree removal services’ name for the tree stump and everything attached to it is “root ball” (the trunk of the tree — or what’s left of it — lies at angle to the right). Lots more like these visible all over the Twin Cities at the moment. from RSSMix.com Mix ID 8230700 https://ift.tt/2R97iAC via IFTTT

Eleventh(!) Straight Year on the List It’s out:  the 2018 list of “Super Real Estate Agents.” Jointly compiled by Mpls. St. Paul magazine, Twin Cities Business , and Crescendo Business Services, the annual list identifies the top 5% of the Twin Cities real estate agent population. Their selection process: “Tens of thousands of home buyers who have purchased a home for $250,000 or more are asked to name and evaluate agents they’ve worked with directly. From there,  a panel of industry experts reviews each agent on the preliminary list. The agents who are ultimately selected represent the top 5 percent of Twin Cities real estate agents.”  –“Moving On Up”;  Mpls. St. Paul magazine (Nov., 2018). According to the magazine, the criteria for rating agents are: –Customer service –Integrity –Market knowledge –Communication –Negotiation –Closing preparation –Finding the right home –Marketing a home –Overall satisfaction Sounds good to me. The only thin...

Housing Market Finance, Then & Now “If you don’t have a job — or are afraid of losing one — it doesn’t matter how low interest rates are.” –Ross Kaplan Long before there was a housing bubble (seemingly, 3 lifetimes ago), there was a credit bubble. As a result, seemingly anyone who could complete a mortgage application — and millions who couldn’t — got a mortgage. Or several. The result was a historic run-up in prices, followed by a historic collapse, inexorably followed by millions of foreclosures nationally and a very nasty Recession. 2018 Credit Environment Cue today’s housing market, where many nervous Buyers fret that they’re buying near the top. How reasonable is that fear? While bubbles are only obvious in retrospect, there is a fundamental difference between credit conditions then and now. With mortgage rates today rising but still below 5%, credit can still be characterized as historically cheap. However, underwriting standards are anything but lax. Don’t...

While I’m certainly a fan of stand-up comedy (Friday night) and live music (Thursday night), as the parent of a Stanford freshman, I have to say my favorite night at the Stanford Coffee House is Sunday night (see above). P.S.: Everything at Stanford seems to be turned into an acronym or a truncated word. So, the “official” name of the Coffee House is “CoHo.” from RSSMix.com Mix ID 8230700 https://ift.tt/2CW3hMN via IFTTT

Centerpoint Energy “Pipe Protection Plan” Never mind my almost 17(!) years as a Realtor. I’ve been a Minnesota homeowner now stretching back over three decades . During all that time, I’d never been pitched a monthly “(gas) pipe protection plan” — until last week. Here is Centerpoint Energy’s marketing spiel: “As your natural gas utility, CenterPoint Energy is responsible for maintaining a safe, reliable natural gas distribution system that serves your home, up to and including the meter that measures your natural gas use. As the homeowner, your responsibility begins from the meter on. You are responsible for the maintenance, repair, and replacement of the gas pipes, connectors, and valves that run from the meter to each of your home’s gas appliances. Any damage or breakage may be your responsibility.” –CenterPoint Energy letter to homeowners. Optional Coverage In practice, the most common gas appliances in a home are the forced air furnace, the hot water heater, and the cloth...

Man Bites Dog — Real Estate Edition One of the odder anecdotes from a continuing ed class the other week was the hapless home seller who got sued not because their house was haunted — but because it wasn’t. Apparently, the Seller had disclosed in their Minnesota Seller’s Disclosure that the home had experienced “paranormal activity.” The Buyer bought relying on that. When the promised ghosts (ghouls? goblins? witches?) didn’t, umm . . . materialize, post-closing, they sued. I’ve got to believe the Buyer and Seller either settled — and for a (very) small amount — or the suit was tossed by the judge (see analysis, below). Too bad. Just imagine the TV audience — let alone the competition for gallery seats — for THAT one (“as its next witness, the plaintiff calls to the stand . . . “). “In Re Haunted House” — the Lawsuit I suppose the Buyer’s argument would be that they bought the house intending to use it as a (commercial) haunted house. Presumably, their damages would then be ...

Porsches, Picasso’s, and Stradivariuses A Steinway piano is a hand-made marvel, full of intricate detail and workmanship, sought by collectors and valued accordingly. A true “piece of work,” one might even say. Ditto such treasures as a Stradivarius violin, a Picasso painting, a Porsche sports car, and a Rolex watch. So . . . how come calling a person “a piece of work” is almost universally regarded as an insult, not a compliment?? Just asking . . . “Isn’t That . . . Precious?” Interestingly, while five of the seven recognized definitions of the word “precious” are flattering (“financially valuable,” “greatly loved,” etc.), two are decidedly not: One. Affectedly or excessively delicate, refined, or nice (see, “precious manners”); and Two. Flagrant; gross (as in, “a precious fool”). See also: “ Which ‘Done” Did They Mean? “; “The Many Guises of ‘Hot Dog’ “; and “Re-Duded Home .” from RSSMix.com Mix ID 8230700 https://ift.tt/2OBFCaK 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, 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 p...

Is it Halloween Yet? I’m a big fan of dramatically lit homes. And with the seasonal change, we’re heading into ever-shorter Fall days. And yet, the technique doesn’t work all the time — and can even backfire: especially for smaller homes, interior lighting at night can produce an (unhelpful) “Jack-o-Lantern effect.” The (kind of) scientific explanation? The ratio of (orange) interior lights to (white) exterior is lopsided in a small house with lots of windows, making it seem like a back-lit pumpkin. A back-lit pumpkin, of course, is the reverse combination, i.e., interior white and exterior orange (dyslexia helps with that one). See also , “ Great Idea for Fall Listings: “Virtual Twilight.” from RSSMix.com Mix ID 8230700 https://ift.tt/2OwqGKL via IFTTT

Surprisingly Spacious 6 Bedroom(!) Home with > 4,000 Square Feet Where :  4709 40th Lane, St. Louis Park. What :  Modified two-story with 6 Bedrooms and 4 Full Baths; total finished square feet = 4,068. When : open house this Sunday (October 21) from 1:30 p.m. to 3:30 p.m. How much :  $700k. Who : listed by Ross Kaplan, Edina Realty – City Lakes. You’ll love this beautifully updated and expanded home on an oversized, .23 acre lot in the heart of high-demand Minikahda Vista. Highlights included the newer eat-in Kitchen with granite countertops; a deluxe upper level Owner’s Suite including steam bath and walk-in closet; and the huge, finished lower level perfect for teens, guests, or exercise/work. Other nice features you’ll appreciate: 4(!) full Baths, a Mud Room with tons of storage, and the convenient attached Garage. This home is extra-spacious outside, too:  the lot is 168′ deep, including a huge, level backyard — all on one o...

Sure, sure , Realtors show support for their colleagues any number of ways. They include: –Offering price opinions on about-to-be-listed homes; –Offering price opinions on homes that are already on the market (and not selling) — plus, ideally, some marketing suggestions. –Simply offering a sympathetic (and discreet) ear when a colleague is wrestling with a challenging issue. However, at least in everyday usage, when Realtors talk about “showing support” for fellow agents, they typically mean one, specific thing:  showing up at the colleague’s Broker Open’s, and — when applicable — any Exceptional Properties meetings that they host. See also , “ S.W.A.T. Team,” Real Estate Edition “; “ 2nd Chances, 1st Impressions & Broker Tour “; and “ Embellishing Attendance at a Broker Open .” from RSSMix.com Mix ID 8230700 https://ift.tt/2q5nDdY via IFTTT

All Eyes on the Fed How will rocky stocks — down another 2% in early trading today — affect the housing market? My knee-jerk response is to cite Chinese leader Mao Zedong, who, when asked (in 1950), “What’s the significance of the French Revolution?,” responded, “it’s too soon too tell.” So, if stocks quickly rebound in the next few days or even weeks . . . I see little effect. But what if stocks enter a correction or even a bear market from here? Then, I anticipate two consequences for housing: One . Upper bracket housing will be affected disproportionately because of the wealth effect. That’s because the stock market impacts the balance sheet(s) of upper bracket home buyers and sellers more than other strata. If their wealth takes a hit . . . so does their purchasing power. Two . Lower interest rates. Called the “Fed Put,” the phenomenon refers to the Fed doing whatever it can to support the stock market when it experiences selling pressure. The mo...

[ Editor’s Note :  You know there are a lot of recent storms — and storm damage — when a post that originally appeared 5 years ago suddenly starts getting hits.  I’m re-running the post (below) as a service to anyone who’s digging out from under. My sympathies . . .] I don’t usually associate “balls” with something 6′-plus in diameter. And, there’s not much spherical about it. But, tree removal services’ name for the tree stump and everything attached to it is “root ball” (the trunk of the tree — or what’s left of it — lies at angle to the right). Lots more like these visible all over the Twin Cities at the moment. from RSSMix.com Mix ID 8230700 https://ift.tt/2R97iAC via IFTTT

Last week, I bought my 22nd rental property. It was a commercial property that was previously used as a restaurant. The property is not very large, and the lot is tiny, but it is in a great location. This is the second rental property I have bought this year, the first being a 68,000-square-foot strip mall. I bought the largest and smallest rentals I own in the same year. This property should be a great investment, but I have never tried to lease to a restaurant before. How many rental properties do I have and what are they? While this The post Rental Property Number 22 Has Been Purchased appeared first on InvestFourMore . from RSSMix.com Mix ID 8230700 https://ift.tt/2OHRmIL via IFTTT

Eleventh(!) Straight Year on the List It’s out:  the 2018 list of “Super Real Estate Agents.” Jointly compiled by Mpls. St. Paul magazine, Twin Cities Business , and Crescendo Business Services, the annual list identifies the top 5% of the Twin Cities real estate agent population. Their selection process: “Tens of thousands of home buyers who have purchased a home for $250,000 or more are asked to name and evaluate agents they’ve worked with directly. From there,  a panel of industry experts reviews each agent on the preliminary list. The agents who are ultimately selected represent the top 5 percent of Twin Cities real estate agents.”  –“Moving On Up”;  Mpls. St. Paul magazine (Nov., 2018). According to the magazine, the criteria for rating agents are: –Customer service –Integrity –Market knowledge –Communication –Negotiation –Closing preparation –Finding the right home –Marketing a home –Overall satisfaction Sounds good to me. The only thin...

Is it Halloween Yet? I’m a big fan of dramatically lit homes. And with the seasonal change, we’re heading into ever-shorter Fall days. And yet, the technique doesn’t work all the time — and can even backfire: especially for smaller homes, interior lighting at night can produce an (unhelpful) “Jack-o-Lantern effect.” The (kind of) scientific explanation? The ratio of (orange) interior lights to (white) exterior is lopsided in a small house with lots of windows, making it seem like a back-lit pumpkin. A back-lit pumpkin, of course, is the reverse combination, i.e., interior white and exterior orange (dyslexia helps with that one). See also , “ Great Idea for Fall Listings: “Virtual Twilight.” from RSSMix.com Mix ID 8230700 https://ift.tt/2OwqGKL via IFTTT

Surprisingly Spacious 6 Bedroom(!) Home with > 4,000 Square Feet Where :  4709 40th Lane, St. Louis Park. What :  Modified two-story with 6 Bedrooms and 4 Full Baths; total finished square feet = 4,068. When : open house this Sunday (October 21) from 1:30 p.m. to 3:30 p.m. How much :  $700k. Who : listed by Ross Kaplan, Edina Realty – City Lakes. You’ll love this beautifully updated and expanded home on an oversized, .23 acre lot in the heart of high-demand Minikahda Vista. Highlights included the newer eat-in Kitchen with granite countertops; a deluxe upper level Owner’s Suite including steam bath and walk-in closet; and the huge, finished lower level perfect for teens, guests, or exercise/work. Other nice features you’ll appreciate: 4(!) full Baths, a Mud Room with tons of storage, and the convenient attached Garage. This home is extra-spacious outside, too:  the lot is 168′ deep, including a huge, level backyard — all on one o...

Khashoggi ≠ Kavanaugh “Res ipsa loquitur”   (rayz ip-sah loh-quit-her) n. Latin for “the thing speaks for itself,” a doctrine of law that one is presumed to be negligent if he/she/it had exclusive control of whatever caused the injury even though there is no specific evidence of an act of negligence. –Law.com President Trump on Tuesday criticized people blaming Saudi Arabia for the disappearance of journalist Jamal Khashoggi, saying they are prejudging the case. “Here we go again with, you know, you’re guilty until proven innocent. I don’t like that,” Trump said. –thehill.com When a patient leaves surgery with a scalpel in his body, he doesn’t need to prove the surgeon was negligent to win a malpractice case. Rather, thanks to the doctrine of res ipsa loquitur , the burden of proof shifts to the surgeon, who must prove that he wasn’t negligent. Similarly, when a U.S.-based Saudi journalist enters the Saudi consulate in Istanbul and never comes out, it seems obvious that ...

Being an entrepreneur is not for everyone. Many people don’t want to take the risks or have the complete control that an entrepreneur has. For me, being an entrepreneur is perfect for my attitude and personality. When I was younger, I did not like authority, and I hated it when people told me what to do. One of the best things about being an entrepreneur, especially for me, is that I have complete control over my business and what I do. I do not have a boss telling me what to do, and I am allowed to make my own The post What Is the Best Thing about Being an Entrepreneur? appeared first on InvestFourMore . from RSSMix.com Mix ID 8230700 https://ift.tt/2PBNBAY via IFTTT

Housing Market Finance, Then & Now “If you don’t have a job — or are afraid of losing one — it doesn’t matter how low interest rates are.” –Ross Kaplan Long before there was a housing bubble (seemingly, 3 lifetimes ago), there was a credit bubble. As a result, seemingly anyone who could complete a mortgage application — and millions who couldn’t — got a mortgage. Or several. The result was a historic run-up in prices, followed by a historic collapse, inexorably followed by millions of foreclosures nationally and a very nasty Recession. 2018 Credit Environment Cue today’s housing market, where many nervous Buyers fret that they’re buying near the top. How reasonable is that fear? While bubbles are only obvious in retrospect, there is a fundamental difference between credit conditions then and now. With mortgage rates today rising but still below 5%, credit can still be characterized as historically cheap. However, underwriting standards are anything but lax. Don’t...

While I’m certainly a fan of stand-up comedy (Friday night) and live music (Thursday night), as the parent of a Stanford freshman, I have to say my favorite night at the Stanford Coffee House is Sunday night (see above). P.S.: Everything at Stanford seems to be turned into an acronym or a truncated word. So, the “official” name of the Coffee House is “CoHo.” from RSSMix.com Mix ID 8230700 https://ift.tt/2CW3hMN via IFTTT

Centerpoint Energy “Pipe Protection Plan” Never mind my almost 17(!) years as a Realtor. I’ve been a Minnesota homeowner now stretching back over three decades . During all that time, I’d never been pitched a monthly “(gas) pipe protection plan” — until last week. Here is Centerpoint Energy’s marketing spiel: “As your natural gas utility, CenterPoint Energy is responsible for maintaining a safe, reliable natural gas distribution system that serves your home, up to and including the meter that measures your natural gas use. As the homeowner, your responsibility begins from the meter on. You are responsible for the maintenance, repair, and replacement of the gas pipes, connectors, and valves that run from the meter to each of your home’s gas appliances. Any damage or breakage may be your responsibility.” –CenterPoint Energy letter to homeowners. Optional Coverage In practice, the most common gas appliances in a home are the forced air furnace, the hot water heater, and the cloth...

Man Bites Dog — Real Estate Edition One of the odder anecdotes from a continuing ed class the other week was the hapless home seller who got sued not because their house was haunted — but because it wasn’t. Apparently, the Seller had disclosed in their Minnesota Seller’s Disclosure that the home had experienced “paranormal activity.” The Buyer bought relying on that. When the promised ghosts (ghouls? goblins? witches?) didn’t, umm . . . materialize, post-closing, they sued. I’ve got to believe the Buyer and Seller either settled — and for a (very) small amount — or the suit was tossed by the judge (see analysis, below). Too bad. Just imagine the TV audience — let alone the competition for gallery seats — for THAT one (“as its next witness, the plaintiff calls to the stand . . . “). “In Re Haunted House” — the Lawsuit I suppose the Buyer’s argument would be that they bought the house intending to use it as a (commercial) haunted house. Presumably, their damages would then be ...

Porsches, Picasso’s, and Stradivariuses A Steinway piano is a hand-made marvel, full of intricate detail and workmanship, sought by collectors and valued accordingly. A true “piece of work,” one might even say. Ditto such treasures as a Stradivarius violin, a Picasso painting, a Porsche sports car, and a Rolex watch. So . . . how come calling a person “a piece of work” is almost universally regarded as an insult, not a compliment?? Just asking . . . “Isn’t That . . . Precious?” Interestingly, while five of the seven recognized definitions of the word “precious” are flattering (“financially valuable,” “greatly loved,” etc.), two are decidedly not: One. Affectedly or excessively delicate, refined, or nice (see, “precious manners”); and Two. Flagrant; gross (as in, “a precious fool”). See also: “ Which ‘Done” Did They Mean? “; “The Many Guises of ‘Hot Dog’ “; and “Re-Duded Home .” from RSSMix.com Mix ID 8230700 https://ift.tt/2OBFCaK 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, 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 p...

Is it Halloween Yet? I’m a big fan of dramatically lit homes. And with the seasonal change, we’re heading into ever-shorter Fall days. And yet, the technique doesn’t work all the time — and can even backfire: especially for smaller homes, interior lighting at night can produce an (unhelpful) “Jack-o-Lantern effect.” The (kind of) scientific explanation? The ratio of (orange) interior lights to (white) exterior is lopsided in a small house with lots of windows, making it seem like a back-lit pumpkin. A back-lit pumpkin, of course, is the reverse combination, i.e., interior white and exterior orange (dyslexia helps with that one). See also , “ Great Idea for Fall Listings: “Virtual Twilight.” from RSSMix.com Mix ID 8230700 https://ift.tt/2OwqGKL via IFTTT

Surprisingly Spacious 6 Bedroom(!) Home with > 4,000 Square Feet Where :  4709 40th Lane, St. Louis Park. What :  Modified two-story with 6 Bedrooms and 4 Full Baths; total finished square feet = 4,068. When : open house this Sunday (October 21) from 1:30 p.m. to 3:30 p.m. How much :  $700k. Who : listed by Ross Kaplan, Edina Realty – City Lakes. You’ll love this beautifully updated and expanded home on an oversized, .23 acre lot in the heart of high-demand Minikahda Vista. Highlights included the newer eat-in Kitchen with granite countertops; a deluxe upper level Owner’s Suite including steam bath and walk-in closet; and the huge, finished lower level perfect for teens, guests, or exercise/work. Other nice features you’ll appreciate: 4(!) full Baths, a Mud Room with tons of storage, and the convenient attached Garage. This home is extra-spacious outside, too:  the lot is 168′ deep, including a huge, level backyard — all on one o...