Archive for 'Info for Sellers' Category
Helping to Explain the Bailout Issue to Jittery Clients/Consumers
1 October 2008If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!by: Chris Galler, COO - Minnesota Association of REALTORS
Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem. In this [...]
Short Sales are “Liar Listings” on the Twin Cities MLS
26 August 2008Short Sale
Definition: a home sale where the seller owes more than what the home is worth and is asking the lender(s) to accept an amount that is less than the amount owed to them as payment in full.
The same problem continues to come up day after day and I finally have the time and focus [...]
Builders Clearing Out Inventory
25 August 2008I received an email this weekend from a builder advertising models that were marked down 20% + ($100k+) from their original prices (but marked down incrementally).
I also saw another builder marking their inventory down in the MLS a similar amount too.
This suggests to me that builders understand that we’re nearing the end of the strong sales season [...]
Twin Cities Foreclosures & Short Sales - A Report Analysis
14 August 2008For several weeks now, Jeff Allen (and several others) from MAAR and I have been working diligently to provide an update to our one-of-a-kind research report we released a few months ago. We’ve just released Foreclosures and Short Sales in the Twin Cities Housing Market Q2 2008 Update. The report contains updates to a lot of [...]
Crazy Homeowner - Keep Kids in Private School & Mom at Home, Lose the House
11 August 2008CNBC has a new show called “On the Money with Carmen Wong Ulrich” and I recently saw a segment that drove me nuts. Click here to see the video.
Here’s a summary:
They send one kid to private school ($14,000/yr currently), the 2nd will be in kindergarten next year
Mom stays at home
Mom can start working 2 days [...]
Twin Cities Sales Strong, Listings Soft
21 July 2008While I’m probably the most techie REALTOR in my office, I still like something that is decidedly low-tech, our office’s Listings & Sales Boards. These white boards, which “back in the day” were chalk boards, give a one-line description of each of our new listings and sales for the month, including the name of the agent [...]
Minneapolis Area Association of REALTORS Monthly Video Update
16 June 2008Take a look at some great commentary by MAAR. The numbers are clearly showing a peak of inventory and a bottom for buyer demand, so we see “strength” in numbers that are no longer continuing to soften. This market has a long way to go before we’re back to “normal” but it all has to [...]
May 2008 Twin Cities Market Stats
12 June 2008MAAR has released their new market stats for the month of May and I’m trying a new idea: I’ve added commentary to the report expressing what I believe are the important “take aways” from the data. I would love to get feedback both on the concept and your thoughts of my opinion.
Minneapolis/St. Paul Real Estate [...]
Minneapolis/St. Paul MLS Addresses Foreclosures & Short Sales… Kinda
10 June 2008The RMLS of Minnesota, which is the governing body of the MLS in the Twin Cities and is owned by the 4 local REALTOR associations, has made some policy changes in regards to the reporting of foreclosures on the MLS, effective on Thursday:
The “In Foreclosure/Lender Owned?” field:
Initially will be an agent-only field (not available on [...]
Great Article on Future ARM Resets for Loans
5 June 2008Great article talking about how ARM mortgage resets happening right now are not so bad but that there’s still a lot of ARMs out there in future years that might have a problem. I’ve heard quite a bit of this before but this is a pretty good summary of it all.
http://globaleconomicanalysis.blogspot.com/2008/04/closer-look-at-arms-reset-problem.html