Robert Guthridge's Blog

Accurate property pricing is key for any REALTOR®. These four tools from RPR will help you determine home values and nail your listing price recommendations. The post Accurate Property Pricing With RPR appeared first on Realtors Property Resource (RPR) . from RSSMix.com Mix ID 8230700 https://ift.tt/37PwUNq via IFTTT

RPR, NAR’s digital property data website and tool, has been reorganized, redesigned and refreshed to help REALTORS® “wow” clients and close more deals. The post REALTOR® Feedback Guides RPR’s new Refreshed Look and Functionality appeared first on Realtors Property Resource (RPR) . from RSSMix.com Mix ID 8230700 https://ift.tt/37LS3bv via IFTTT

February's “The Wow Factor” features special guest Emily Line, who discusses how REALTOR® members’ insights and input paved the way for the new, “refreshed” RPR. The post The Wow Factor: Episode 9 – RPR “Refresh” With Emily Line appeared first on Realtors Property Resource (RPR) . from RSSMix.com Mix ID 8230700 https://ift.tt/2NWvE3Z via IFTTT

In this quick video, 2021 NAR President Charlie Oppler covers the highlights of the “refreshed” version of RPR (Realtors Property Resource). The post NAR President Charlie Oppler Walks REALTORS® Through the new RPR appeared first on Realtors Property Resource (RPR) . from RSSMix.com Mix ID 8230700 https://ift.tt/37GJyhJ via IFTTT

Shaq became famous as a basketball player, a very large basketball player! He is 7 foot 1 inch tall and was well over 300 pounds when he was playing in the NBA. Not only was he one of the best basketball players of all time but is a real estate investor as well. He has ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/37m3y9a via IFTTT

  Realtor showing clients a home, pre-Covid (and hopefully, post-Covid). Collecting (Mining?) a Treasure Trove of Personal Data on Home Buyers and Sellers (and their Realtors)  [ Note to Readers : 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.] To consumers and even many Realtors, the software that agents use to request home showings on their local MLS (“Multiple Listing Service”) is largely invisible. Like the plumbing in a home, the only thing that really matters is that it simply and reliably works. However, like a Nest thermostat (Google) or Alexa personal assistant (Amazon), showing software collects a veritable treasure trove of personal data — data that could at least theoretically be profitably “monetized.” That includes personal information about home Buyers; when and what homes they’re viewing with their R...

In late February, RPR will launch a new and “refreshed” version of its real estate property data website. from RSSMix.com Mix ID 8230700 https://ift.tt/3a00KQR via IFTTT

In this quick video, 2021 NAR President Charlie Oppler covers the highlights of the “refreshed” version of RPR (Realtors Property Resource®). from RSSMix.com Mix ID 8230700 https://ift.tt/2MRGDMd via IFTTT

“City Lakes Real Estate Blog” Tops the List (Google’s) So, how do you get to be the best Realtor blog in America? Start with a daily post featuring a topical bit of real estate-related news or analysis (usually). Then, write 6-8 more such pieces the same week. Finally — and here’s the hard part — repeat weekly . . . for 14 years (!). Really. Thanks for visiting! *According to Google, “City Lakes Real Estate Blog” is the highest-ranked individual Realtor blog (vs. list of blogs) in the U.S., searching under these terms: “best U.S. Realtor blog,” “best Realtor blog,” “top U.S. Realtor blog,” and “best U.S. real estate agent blog.” Trivia item #2: more unique “City Lakes” posts appear in Google searches daily — about 100 — than the vast majority of Realtor-bloggers have written. Ever. from RSSMix.com Mix ID 8230700 https://ift.tt/3pjRgEp via IFTTT

Before and After Pix Painting stucco, a cement-based siding, used to be a “no-no”:  the exterior paint didn’t adhere well, which meant that, forever after, the home needed frequent re -painting. Which sort of defeated the purpose of stucco in the first place: its famously low maintenance. Now, thanks to more stucco-friendly products, the interval between re-painting is much longer, giving homeowners more options. Fashion Statement I just have two caveats for homeowners contemplating such a step: One . A darker color may be harder to cover than a lighter color, if you (or a subsequent owner) ever change your mind. In that vein . . . Two . Don’t pick a color that you — or the neighbors(!) — are likely to get sick of ( think , neutral vs. bold or brilliant). Consider it the real estate equivalent of the Hippocratic Oath (“first, do no harm”). P.S.: the homes pictured above are located on Sunset Boulevard just southwest of Cedar Lake in Minneapolis; and Penn Avenue Sout...

The Wall Street Journal Editorial Board Swings and (Badly) Misses [ Note to readers : 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.] It’s difficult to think Mr. Trump ever envisioned what followed [his January 6 speech]: that instead of merely making a boisterous display, the crowd would riot, assault the police, invade the building, send lawmakers fleeing with gas masks, trash legislative offices, and leave in its wake a dead Capitol officer.” –“The Trump Impeachment Evidence”; The Wall Street Journal (2/11/2021). So, The Wall Street Journal’s Editorial Board can’t imagine that President Trump intended his followers to physically attack the Capitol following his January 6 speech? I sure can. The proof is his reaction — make that non -reaction — to the tsunami of live-on-tv evidence that his supporters were doing anythin...

Buyer Strategy in a Seller’s Market “Never negotiate hungry. Or tired.” –Ross Kaplan, “ Negotiating Advice ” As I’ve discussed on this blog previously, the “How” of negotiating can be much less important than the “When” or “Where.” As in , when to stop negotiating (and take a break), and never negotiating while you’re driving (you can’t take notes). If time (and timing) is the biggest stealth factor in negotiating, it follows that knowing whether time is your friend or enemy is the biggest overlooked variable. So, here’s a good corollary: “In a Buyer’s market, time is the Buyer’s friend; in a Seller’s market, time is the Buyer’s enemy.” Letting the Other Side “Think About It” What do I mean by that? When the market is cold, walking away from the table and letting the Seller “think about it” can be an effective way to break an impasse (typically, the Seller will come down). By contrast, in today’s unrelenting Seller’s market, a Buyer who walks away from the table — ...

One of the biggest surprises with Covid-19 is that the housing market has only gotten hotter. But it isn’t because the overall economy is great and people are getting amazing jobs in all sectors. What is happening is a massive trend in overall inflation as easy money is flooding the economy, we have large mortgage […] from RSSMix.com Mix ID 8230700 https://ift.tt/2Z4LSum via IFTTT

I have refinanced many of my properties over the years and I have also used lines of credit quite a few times. I am a real estate investor who flips houses and buys quite a few rentals so having cash available is important to my business. You can take cash out of properties you own ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/36ZlAxO via IFTTT

A River Runs Through It (Diagonally) Quick! Test your knowledge of Minneapolis’ quirky geography (or at least, quirky neighborhood names), and see if you know which of the following are real terms, used by the locals . . . and which aren’t: A. “North Minneapolis” B. “South Minneapolis” C. “West Minneapolis” D. “East Minneapolis” E. “Northeast Minneapolis” F. “Northwest Minneapolis” G. “Southeast Minneapolis” H. “Southwest Minneapolis” Answer key : A. “ North Minneapolis .  Yup , there is such an area: it’s the collection of 13 city neighborhoods that run from Harrison, almost directly west of Downtown, to Shingle Creek, in the city’s far northwest corner. Which begs the question, “why isn’t it called “ Northwest Minneapolis??” Complicating things further: “North Minneapolis” splits into northern and southern halves: “Camden” and “Near North,” respectively. The dividing line is Lowry Ave. B. “ Northwest Minneapolis.” Nope. See , “North Minneapolis.” C. “South Minn...

Analog (human) shoppers at the mall (“physical retail”). What Do You Call the Opposite of Online Sales? Amazon has marched into every arena of commerce, building moat after moat — logistical, financial, customer service — to keep its rivals from catching up. It expanded into selling its own wares, into physical retail, entertainment and into all manner of home monitoring devices. And it has its Sauron-like eye aimed relentlessly on a whole lot more than that.” –Kara Swisher, “As Jeff Bezos Takes Off, Meet His Earthbound Successor”; The NYT (2/3/2021). Once upon a time — like 20 years ago — “physical retail” was just . . . “retail.” As in , “I’m going to the mall this weekend to buy a new pair of jeans.” Fast forward two decades. Now, the juggernaut known as “Amazon” has expanded into so many lines of business, both online and off, that we need a new term for old-fashioned, in-person sales to distinguish them from the Internet-based, virtual kind. 2009-2013 Housing Market...

I am not sure how many remodels we have done, but it is a lot! We have flipped more than 200 homes, remodeled many rentals that I own and I have headed up the repairs on homes I did not own as well! Over the years, I have learned tips and tricks to make our ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/3pPUqkw via IFTTT

Fern Hill’s most expensive home (homes??): 2545 Huntington Ave. South. The Neighborhood’s Two Distinguishing Features There aren’t too many Twin Cities neighborhoods that include both 1950’s ramblers for $300k and less than one mile away custom, upper bracket Contemporaries with gorgeous views of Cedar Lake and the Downtown Minneapolis skyline commanding almost 10x that (2545 Huntington, pictured above, sold for $2.46 million almost one year ago. The property actually includes two structures: a primary residence and a guest house). But, that succinctly describes the Fern Hill neighborhood in St. Louis Park. Also known as the “First Alphabet,”** Fern Hill is bounded by Minnetonka Blvd. on the south, Highway 100 on the west, France Ave. on the east, and the Lake Forest neighborhood to the north. $300k to $2.5M What accounts for Fern Hill’s broad price range? Its eastern edge, bordering Minneapolis, is increasingly dominated by upper bracket single family homes — a significa...

Hot new listing in Fern Hill (never mind the subzero temperature). Just Listed: 2905 Princeton Ave. South in Fern Hill You might think a high temperature today of 2° — never mind the windchill — would have a, umm . . . chilling effect on the Twin Cities housing market. Nope. As of late this afternoon, newly-listed 2905 Princeton Avenue South in St. Louis Park’s Fern Hill neighborhood had more than 50 — count ’em, 50(!) showings. Given that the home debuted on MLS almost 3 weeks ago (Jan. 19) as “Coming Soon,” you’d guess that a large chunk of those showings were requested before the home switched to “Active” very early today (**at 12:15 a.m., to be exact). Hurry Up and Wait What comes next for the 2 BR/2 Bath 1 1/2 story home? Offers — and likely lots of them. Given the frenzy of showings, the $295,900 listing price is likely the floor, not the ceiling (I didn’t personally see the home). But first, prospective Buyers have to cool their heels: according to Agent Remarks on...

In late February, RPR will launch a new and “refreshed” version of its real estate property data website. from RSSMix.com Mix ID 8230700 https://ift.tt/3a00KQR via IFTTT

Hmm . . . Where Have I Seen That Arm Before??” The apple doesn’t fall far from the tree.” –Proverb Where does Chiefs’ quarterback Patrick Mahomes get his rocket right arm? Minnesota Twins fans of a certain age (I qualify) know the answer: “from his old man.” Mahomes senior was a journeyman major league pitcher who ultimately played for six teams over a decade, including 4 years for the Twins in the ’90’s. I remember exactly two things about the Dad: 1) he was tall and whippet-thin (by contrast, his son is tall and a burly 235 lbs.); and 2) he had a wicked fastball. I’d root for the Kansas City Chiefs in Super Bowl 55 against Tom Brady and the Tampa Bay Buccaneers, but I can still remember Chiefs Coach Hank Stram taunting Vikings fans in their upset win in Super Bowl IV (I’m also an old Vikings fan). from RSSMix.com Mix ID 8230700 https://ift.tt/2YVrdsE via IFTTT

Damaged Democracy [ Note to readers : 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.] The U.S. is ‘on the verge of explosion,’ the country’s religious leaders say. Many accuse the government of supporting gangs to stay in power as a constitutional crisis looms.” — New York Times headline; Feb. 7, 2021. “Wait a second,” I hear readers thinking to themselves. “Why is The New York Times running that story today, more than a month after the attack on the Capitol incited by President Trump, and almost 3 weeks after Joe Biden was sworn in as his successor? The explanation? I changed exactly three words in the article: I substituted “the U.S.” for “Haiti,” and replaced “Episcopal bishops” with “religious leaders.” That’s it. If that doesn’t give you chills . . . I don’t know what will. Keep that in mind this week, as you con...

  Not Just Peace of Mind The most obvious reason to buy a home warranty? To avoid an unexpected, budget-busting home repair — or several of them. In return for an annual premium ranging from $500 – $1,000 (depending on coverage and home features), most such policies cap homeowners’ out-of-pocket expense for repairs. That’s especially attractive for notoriously cash-poor, first-time home Buyers — and the homeowners who want to sell to them (in lieu of replacing aging-but-still-working appliances and HVAC, smart Sellers often include a home warranty with the sale). Economies of Scale/Pre-Negotiated Costs However, there are two other reasons for homeowners to consider a home warranty: One . Convenience. Unlike veteran Realtors, who know plumbers, electricians, etc. (or can buttonhole their colleagues for referrals), the average homeowner may not have such relationships. Unfortunately, the worst time to find a reliable contractor is after the hot water heater springs a leak...

  Mind Over Matter Weather While rain is forecast for Super Bowl 55 in Tampa Bay this Sunday, the high temp is still expected to be close to 70 degrees. In the Twin Cities? Not so much (literally). In fact, the warmest it’s expected to reach locally the next ten days is 5 degrees, with a low of -17 degrees (never mind the windchill). With that stark contrast it mind, it seemed timely to compare the locals’ rather unique attitude towards arctic temps with those who live in warmer climes: 60 above zero: Floridians turn on the heat. People in Minnesota plant gardens. 50 above zero: Californians shiver uncontrollably. People in Duluth sunbathe. 20 above zero: Floridians use coats, thermal underwear, gloves, wool hats. People in Minnesota throw on a flannel shirt. 15 above zero: New York landlords finally turn up the heat. People in Minnesota have the last cookout before it gets cold. Twin Cities window washers show up five minutes early, add antifreeze to cleaning...

A River Runs Through It (Diagonally) Quick! Test your knowledge of Minneapolis’ quirky geography (or at least, quirky neighborhood names), and see if you know which of the following are real terms, used by the locals . . . and which aren’t: A. “North Minneapolis” B. “South Minneapolis” C. “West Minneapolis” D. “East Minneapolis” E. “Northeast Minneapolis” F. “Northwest Minneapolis” G. “Southeast Minneapolis” H. “Southwest Minneapolis” Answer key : A. “ North Minneapolis .  Yup , there is such an area: it’s the collection of 13 city neighborhoods that run from Harrison, almost directly west of Downtown, to Shingle Creek, in the city’s far northwest corner. Which begs the question, “why isn’t it called “ Northwest Minneapolis??” Complicating things further: “North Minneapolis” splits into northern and southern halves: “Camden” and “Near North,” respectively. The dividing line is Lowry Ave. B. “ Northwest Minneapolis.” Nope. See , “North Minneapolis.” C. “South Minn...

Analog (human) shoppers at the mall (“physical retail”). What Do You Call the Opposite of Online Sales? Amazon has marched into every arena of commerce, building moat after moat — logistical, financial, customer service — to keep its rivals from catching up. It expanded into selling its own wares, into physical retail, entertainment and into all manner of home monitoring devices. And it has its Sauron-like eye aimed relentlessly on a whole lot more than that.” –Kara Swisher, “As Jeff Bezos Takes Off, Meet His Earthbound Successor”; The NYT (2/3/2021). Once upon a time — like 20 years ago — “physical retail” was just . . . “retail.” As in , “I’m going to the mall this weekend to buy a new pair of jeans.” Fast forward two decades. Now, the juggernaut known as “Amazon” has expanded into so many lines of business, both online and off, that we need a new term for old-fashioned, in-person sales to distinguish them from the Internet-based, virtual kind. 2009-2013 Housing Market...

I am not sure how many remodels we have done, but it is a lot! We have flipped more than 200 homes, remodeled many rentals that I own and I have headed up the repairs on homes I did not own as well! Over the years, I have learned tips and tricks to make our ... Read more from RSSMix.com Mix ID 8230700 https://ift.tt/3pPUqkw via IFTTT

List Price: $4.9 Million [Note to Readers : 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.] At a sufficiently high price, every prospective home buyer is a tire kicker. At least in the Twin Cities, that point is reached well before $4.9 million, the list price for 2201 East Lake of the Isles Parkway in Minneapolis. So why put the home on Broker Tour? (Note: at least in the Twin Cities, Broker Tour is held every Tuesday from 11 a.m. to 1 p.m.; the purpose is to allow area Realtors to familiarize themselves with newly-listed homes (usually), and generally build market awareness for ). Search me. Qualifying Prospective Buyers. Or Not. Precisely to screen out gawkers and the merely curious, listing agents for upper bracket properties often require prospective Buyers to demonstrate their financial bona fides before viewing the h...

Bullish and Bearish Bellwethers [ Note to Readers : in the wake of Gamestop’s stock blowing up due to activity on Reddit, the post below is getting renewed attention. To would-be market timers, though, here’s a heads up: the post appeared almost 5 years ago, when the Nasdaq — which contains many high-flying tech stocks — closed at 4,476. Its close today: 13,256, almost triple]. Just before the 1929 crash, Joseph Kennedy (father of President John F.) was supposed to have dumped all his stocks because a Wall Street shoeshine boy started giving him stock tips. Kennedy reasoned that, if even shoeshine boys were playing the market, there was no remaining, untapped demand to support stock prices . . . and it was (high) time to get out. Contrarian Indicator(s): A Retail Investors (aka “Dumb Money”) In truth, Kennedy was a consummate insider who knew full well how frothy the market had become — in large part due to manipulations by insiders such as himself** — and sold to avoid the inevi...