Turkey Short Sales - 11/26/09 10:44 AM
Not all short sales involve homes.  Mpls/StPaul area grocers have been selling turkeys this week for prices as low as thirty-seven cents a pound.  Farmers say they are getting a little more than twice that amount when they go to market, and that may be less than it costs to produce them.  Apparently, even though turkeys are being sold for less than half of their cost, the turkey investors feel that they can make it up in volume, just like homebuilders.
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Sellers, Whose Side Are You On? - 11/21/09 11:10 AM
When sellers sign a listing agreement, they indebt the listing broker  to the fiduciary duties that they deserve from us.  Often, sellers do things that help the eventual buyer gain an advantage in the sales process.  Sometimes, sellers are their own worst enemies.
I'm thinking about asking sellers to sign a statement acknowledging that they understand that certain acts or omissions by them will decrease the final price they receive and increase the time it will take to get there.  Here's my first draft of possible acknowledgments:
•1.       I understand that my asking price will define the expectations and limit the … (5 comments)

Clutter may be a buyer's best friend - 11/17/09 06:49 PM
When counseling buyers, we discuss what is important to them in finding a new home.  We also discuss what is important in getting a good home at a great price.  In my opinion, three important traits of a potentially good buy are:
1. Overpriced.  A home priced just out of its market range will get few showings and fewer offers.  If the seller can afford tosell at a market, our offer may be the only one they see.  There is a fair chance that, if the offer is presented properly, they will accept it.
2. Unusual paint colors.  Any color that … (59 comments)