August 4, 2014
Why should I pay for the buyer's closing costs?

In each real estate transaction, there are buyer's closing costs, as well as seller's closing costs. But increasingly, buyers are asking sellers to cover their closing costs. Why should sellers pay for buyer's closing costs? The main reason is that this is purely an accounting move. With the way we structure purchase agreements, it is […]

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November 2, 2013
The Difference Between "In Foreclosure" and "Foreclosed"

What's the difference between these two terms? In Foreclosure In foreclosure means that the house is in the process of being foreclosed. This is the time period where the seller has been notified of the start of the foreclosure process, to the sheriff sale, to the end of the redemption time period. In Minnesota, we […]

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April 10, 2013
Winning at Multiple Offers

Today's market is difficult for buyers. The inventory is so low, and the demand is so great, that many houses are going in to multiple offers. In the past few weeks, I've written many offers that were in multiples, and have won several of them. There is more than just price that can win a […]

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March 24, 2009
What are Agency Relationships?

There is a term in real estate that describes what type of relationship a buyer or seller could have with an agent.  This term is agency.  Each state has different agency relationships, and Minnesota state law requires us to disclose the types of agency relationships that usually occur in our state.  This agency relationship form should […]

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February 20, 2009
$8,000 Free Cash!!!

That should get your attention.  The government is giving cash to home buyers! Now, there are some stipulations, but if you meet the criteria, you can get $8,000! This is part of the Economic Stimulus package that was signed into law this week by President Obama. First-time home buyers can claim an $8,000 tax credit […]

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June 21, 2008
A Short Commute

The Star Tribune just published an article on having a shorter commute. Here's a link. I'm in agreement on living in the city. I currently live in a great neighborhood of South Minneapolis with great neighbors, a wonderful character-filled house, and lots of closeby amenities. We can walk to two different parks within 3 blocks, […]

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June 19, 2008
What is CDOM?

No, I didn't spell CD-ROM wrong. CDOM stands for Cumulative Days On Market. Well, ok. What does that mean? And why do you want to know? CDOM is the total time the house has been on the market since it was originally listed. Here's an example. Let's say the homeowners put their house on the market in […]

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June 15, 2008
What is OLP?

What is OLP? In South Minneapolis, we know it as Our Lady Of Peace, a church and school. But OLP in the real estate sense stands for Original List Price. The quick definition of Original List Price (OLP) is the price that a home is listed at when it is offered for sale. This price […]

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March 18, 2008
It's a Great Time to be Buying a Minneapolis House

Ed. Note: This article was first written in late 2007.  It is now 2008, and it's still a prime time to invest in Minneapolis real estate. Interest rates continue to be at historically low rates, and there are plenty of wonderful homes in Minneapolis just waiting to be bought. This article is still relevant, so […]

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