minneapolis: Buyers Are Suffering Post Multiple Offer Trauma Fatigue Syndrome (MOTFAS) - 04/21/17 12:21 PM
Six offers later, and we still have no house. 28 offers on the first one, 14 on the second, 25 on the third, it goes on. Forever. They were good offers, all $10,000 to $15,000 over asking price.
Good earnest money, fully approved, with a letter saying how much the buyer appreciated the seller’s divine taste, and how much they want to make it their own. The lender called the listing agent to cheer him on.
Still, the response came back, “Thank you for your patience while we comb through 28 offers.” Or, “We have 25 awesome offers, and will get back to … (7 comments)

minneapolis: This Could be you, Keith and Angela - 04/18/17 07:39 AM
They moved to the Twin Cities for job relocation from the East not knowing if they would stay, or even like it. Soon they were nestled into a cozy rental home in Minnetonka, their jobs were running on track. Their rental was an older home, charming, but begged fixing. That's when they began thinking about what they really wanted.
It started with, "If we want to stay in Minnesota, let's put down roots." Keith and Angela began to think about starting a family, building community, making friends. After looking at a few older homes, they explored some new construction communities. The … (1 comments)

minneapolis: The Spring Real Estate Weather Report for Minneapolis - 03/24/17 12:27 PM
January acted like March, February behaved like April (unseasonably warm, as in 30 degrees above normal), and March is bi polar. We have 60 degrees one day, and 6 above zero the next morning. The weather is still chilly, but the market is SIZZLING in Minneapolis!!!
Usually the spring market in Minnesota starts in March, but this year is started in January. No one told sellers. We’re in a drought of listings. The Mpls Association of Realtors shows that we are in a 25% decline in homes for sale year over year. And last year was a 30 year low. There is … (3 comments)

minneapolis: They Don’t Build them Like they Used to - 03/23/17 10:54 AM
No, they don’t. And you wouldn’t want it any other way.
As much as I adore historical homes for their character and craftsmanship, they do need maintenance and upgrades to keep them in shape. Old homes, for all their charm and detail, had few of the essentials of how we live today. They had no insulation, drafty chimneys, leaky windows, and dank basements. 
What you probably don’t know is that energy efficient homes are in two categories; 1. Pre 2006 and 2. Post 2006 built. You might be surprised that in 2012 there was a 30% energy efficiency improvement over 2006, and another … (5 comments)

minneapolis: How does Immigration Impact Real Estate in 2017? - 03/17/17 10:51 AM
The phone rang on a Saturday morning, “I don’t know if you remember me, you sold me a house a long time ago, and I need to talk to you urgently.” I remembered him and his wife, we had talked a few years ago about selling, but they decided to stay. Their faces were tense, and his voice was very soft when we met. “I’ve worked at my job at the hotel for 20 years, but I had a traffic ticket. Are they going to deport me?  Should I sell my house now?” 
Another woman asked in desperation, “My husband was deported, … (3 comments)

minneapolis: 7 Tips to Win in Multiple Offers - 03/13/17 12:31 PM
A couple weeks ago I showed a home in NE Minneapolis whose owners had spent months preparing for the sale. The photos were from last summer. That means that they meticulously planned every corner and cranny since then. There was a constant stream of buyers. That evening I received an email from the listing agent, “Thank you for your patience while we comb through 28 offers.”
 
The next weekend I showed a similar smaller home, and the 27 who weren’t the winner last week showed up on a Saturday morning to try again. There were 14 offers on that home.  Last week … (6 comments)

minneapolis: A Sellers Market isn't a Magic Lantern - 02/15/17 11:04 AM
During the real estate boom from 2000-2006, sellers got a little lazy. Put a sign in the yard, and they will come. They weren’t too worried about how the house looked, or fixing minor repairs because they expected multiple offers and could choose from the pile.
When the recession hit, even great houses sold below price and buyers seemed to triple repair estimates demanding price reductions. There was a period in 2008-2010 when every buyer wanted an $80,000 house. Their expectation was that it was worth $250,000, and they wound up buying $160,000 thinking that there was something better was waiting.
Fast forward … (4 comments)

minneapolis: What's the most romantic place for Valentine's Dinner in Minneapolis? - 02/13/17 03:30 PM
Where's the most romantic place for Valentine's Day dinner in Minneapolis for Millenials?  
In the new home that they closed on last week.
Skip the crowded restaurant, the exhausted waiters, and over priced dessert.  Cozy up in your new home, make memories.  This is why you bought a home of your own.  What's really important here is that you are building your dreams together on your own terms. Start now. 
… (1 comments)

minneapolis: Thank You for your Patience While we Comb through 28 Offers……… - 02/06/17 01:00 PM
Last week I showed a home that just came on the market to a buyer who has been waiting for some new options in South Minneapolis.  This home was well priced, excellent condition, and had everything a first time buyer could want. 
 
Of course, he loved it, but his wife was out of town, so he hesitated to write an offer.
 That evening an email came in from the listing agent.  “Thank you for showing our new listing and your patience while we are combing through 28 offers…..”
 
It’s no accident that this home had multiple offers. There are reasons why it happened:
… (3 comments)

minneapolis: Every Day is for Thanksgiving - 11/25/16 08:23 PM
 
I am grateful every day.  When I think about the first Thanksgiving I realize that it was because of immigrants who fled Europe because of religious persecution. They were poor, cold, starving, and depended on the kindness and generosity of the first Americans. Because of them we are here.  Because of the gritty lives that they endured, we built a nation. 
 
Yesterday, one of the Ancestry sites invited me to check on my ancestors.  I found the 
grandfather that I never knew.  He sailed from Prussia in the 1880s to New York,
one of 11 children. They made their way to Minnesota and plowed … (6 comments)

minneapolis: Dear Buyer, HGTV is Not you Friend. Not a Real Friend. - 11/21/16 05:27 AM
Every buyer is hooked on HGTV for inspiration, hoping that they can make it happen for themselves. Twenty minute makeovers are seductive. The homeowners walk in and are surprised, thrilled, tears of joy spilling down their cheeks.
Who doesn’t love a good makeover? As Americans, we expect magic. We love Walt Disney, Harry Potter, and HGTV. We don’t really want to know how it works, we just want to push that EASY button.
Can we do a little fact checkin?  Starting with the Realtors on the shows, they show up all over the map, offer a client 3 homes to choose from, and … (7 comments)

minneapolis: South Minneapolis DEAL OF THE WEEK, teeny, tiny, adorable, affordable - 01/11/11 01:28 PM
Right there, in South Minneapolis, plunked in the middle of big snow drifts, is an adorable, affordable and totally rehabbed tiny house.   
We've become accustomed to seeing 4000 square foot Minneapolis Garagemahals, but what about that single first time buyer who doesn't want to live in a condo?  Or the couple who wants a convenient budget saving pad near the airport? We're all looking for a bargain, so here is the SOUTH MINNEAPOLIS DEAL OF THE WEEK!
This is a fabulous 480 square foot, 1 bedroom, completely new kitchen, bathroom, wood flooring for only $64,900.  That is a teeny, tiny $300 Principle … (5 comments)

minneapolis: 10 Productive Things To Do in a Minneapolis Blizzard - 12/11/10 05:26 AM
As I peeked out at the pale pink sky this morning, a steaming mug of coffee in hand, I searched for my driveway under a thick blanket of snow.  The dog wouldn't go out either.  The view is a pastel postcard of homes decorated for Christmas.  6" of snow already blanketed the Twin Cities, with another 6-10" was predicted with winds and plummeting temperatures.  There is no use fighting it.  Instead of wrapping up in a Snuggie to watch old movies, I made listed 10 productive things I could do during a blizzard in Minneapolis.
1. If there was ever anyone you … (8 comments)

minneapolis: READY, SET, REHAB! Minneapolis remodel gets worse before it gets better. - 04/05/10 04:33 PM
 
READY, SET, REAHAB!  Minneapolis remodel gets worse before it gets better.
If any of you watch old movies, you might have noticed that in 1940 romances he carries her over the threshold of a dump he has just purchased where they will start their lives together.   She is thrilled, and even misty among the rubble.  Next morning, after she prepares a stack of waffles, sausage and Maxwell House coffee for her man, she sets to work on the house.   By the time he gets home at 5PM, the shack is transformed into a darling cottage that is cleaned, painted … (2 comments)

minneapolis: MINNEAPOLIS HAS GONE TO THE DOGS - 04/04/10 06:06 PM
 
Minneapolis Has Gone to the Dogs.
Minneapolis is renowned for its healthy lifestyle, walking trails, parks and lakes.  What you don’t notice right away is that it a dog paradise.   To most of us, our pets are part of the family, and some treat them like children.    One of the easiest ways to get to know the Twin Cities is walking a dog.  It doesn’t even have to be your dog, you can borrow one.  Even in sub zero weather, when only big dog owners are out on the trail people will talk to the dog.  
My girl is a … (5 comments)

minneapolis: READY, SET, REHAB! Uptown Minneapolis, Remodel - 03/31/10 05:42 AM
 
READY, SET, REHAB!  Uptown Minneapolis Remodel
After a long, bitter winter of trudging through frigid vacant Minneapolis foreclosures, we found the jewel that investor’s dream about.   It’s a stately 1906 duplex with almost 2400 square feet, in Uptown.  The basement is a horror, original boiler and oil tank in a dank block foundation with leaky plumbing lines. But, it was at the right price, and is in a prime rental area just east of Lyndale and a short jog to Lake Calhoun.
The main floor unit has original wainscoting, built in buffet, fireplace with green ceramic surround and mantel, hardwood … (2 comments)

minneapolis: SW Minneapolis Kenny Neighborhood holds family and real estate values. - 03/25/10 04:48 PM
 
If you’ve dreamed about an idyllic urban neighborhood with a creek, lakes, schools, and shopping within walking distance, you will love Kenny in Southwest Minneapolis.   
Kenny is a small neighborhood of about 3,500 bordered on the north by Minnehaha Creek, south to Crosstown 62.  Lyndale Ave on the east boasts local shopping and restaurants, the neighborhood is dotted with coffee shops, ice cream parlors, churches, tennis courts, parks, and local services.   The park along the Creek offers miles of trails for biking, skating, walking and dogs.   If you have a dog to walk, you'll quickly get to know … (2 comments)

minneapolis: FREE Credit Repair Workshop in Minneapolis - 03/20/10 10:09 AM

FREE Credit Repair Workshop
 The economic crisis and housing market has taken its toll on thousands of families, causing stress and heartache.   For far too long, easy credit seduced us to outspend our incomes, rely on credit cards, and use our homes as a personal ATM.   Debt has become a four letter word to  Mr. and Mrs. Mastercharge. Many people  become paralyzed by fear or embarrassment, and feel that they are being held hostage by the system that encouraged them to spend.  Minnesotans carry an extra  burden of shame imposed by our history of frugal Lutheran settlers.  You are a good person if … (2 comments)

minneapolis: Minneapolis/St.Paul Market Update - 02/24/10 09:48 AM
Do Statistics Lie???
 
We all believe that statistics give us a true overview of the marketplace.  They can give us a broad understanding, but when we drill down there are stories that numbers don't address.  Statistics chill the heat of the marketplace into cold numbers, pulling all emotion out of the process.
Minneapolis/St. Paul  Market Update as of February 24, 2010
Over the last three months there were 7, 189 Purchase Agreements signed, and last year during the same period there were 7,186 PA's written.  So, are conditions last year the same as this year?  Not by a long shot.
… (6 comments)