Archive for 'Personal Experiences' Category
Loose Lending Broke Housing, Tight Lending Keeps it Broken
20 June 2008If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The several years of “loose lending” by mortgage lenders helped bring a surge of bad loan programs with borrowers that were either overextended from Day One or should have been unqualified to begin with. This surge has now become [...]
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 [...]
May 31st Storms
31 May 2008I’ve posted some photos to Flickr of the latest hail storm that came through on Saturday, May 31, 2008:
http://www.flickr.com/photos/27215653@N05/sets/72157605363818571/
Q&A - How Long Should it Take to Sell My Home?
9 May 2008According to the RMLS’s analysis of the 13 county Twin Cities metro area, the average home is selling in 165 days. But also according to the RMLS, that home is only selling for 91.7% of original list price.
Now I’m not 100% sure on this, but my feeling is that most sellers would prefer to sell [...]
Price Per Square Foot - Lender-Mediated vs Traditional Sellers
6 May 2008As a follow-up to the report I co-authored with Jeff Allen from MAAR, below is a comparison of price per finished square foot between lender-mediated sales and traditional sales.
As can be seen by the chart above, there is a substantial price discount on a cost per square foot basis when you look at lender mediated [...]
Aaron Dickinson and MAAR Publish Report on Foreclosures and Short Sales on Twin Cities MLS
6 May 2008You can find the report here.
Background
In late October I wrote a blog post regarding foreclosures and short sales listed on the MLS in the Twin Cities. Once I started researching this topic, I found that the information I was uncovering was previously unknown in our market and that the trends it offered were very insightful. [...]
Agents Disrespecting Vacant Houses
21 April 2008I have a listing that is vacant. The house is not a foreclosure and it is not a short sale. The house is clean, freshly painted, and has all utilities on. Apparently because it is vacant, agents/their buyers feel that they do not need to afford the same respect they would to an occupied home.
When I [...]
So Much to Say, No Time to Say It
16 April 2008I’ve got mountains of thoughts to share with you all but have simply not had the time to write about it. Blogging takes concentration & clarity of thought… two things I have had very little of lately with this busy market.
I’m working with some great buyers & sellers and having a great time but it [...]
Greedy Buyer Loses in Multiple Offers
9 April 2008This is a story about a buyer who was too greedy for his own good, and how his underestimating of the situation left him with terrible regret when he lost out on the offer for his “dream home.”
About a month ago this buyer went looking at new construction in a outer suburb of the Twin [...]