tag:blogger.com,1999:blog-10071840440737008572024-03-12T04:17:48.713-05:00City Lakes Real Estate Blog©<em>Insights and commentary about the Twin Cities real estate market -- and the occasional "macro musing" -- from a top local <strong>Realtor</strong>.</em>
©Copyright. All rights reserved.Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.comBlogger1692125tag:blogger.com,1999:blog-1007184044073700857.post-34408531773742197152011-01-05T17:03:00.006-06:002011-01-05T19:39:38.647-06:00My Last PostDear City Lakes Readers:You're reading my last post.Not forever -- just at this particular blog address.The reason for the lull in posts the last week or so is that I've been busy tweaking and fine-tuning -- with very patient assistance from Web developer Tim Elliott -- the new City Lakes Real Estate Blog.The new blog, powered by WordPress software, is much more robust, aesthetic, and -- Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com16tag:blogger.com,1999:blog-1007184044073700857.post-68584730002839185542011-01-03T12:14:00.006-06:002011-01-03T14:48:55.351-06:00Year-End Spike in Activity?Like most Realtors, I set up what are (or used to be) called "hot sheets" on MLS to track activity in areas of specific interest to my clients.So, just by clicking "Update," I can see everything that's changed on the market -- across multiple neighborhoods, price ranges, etc. -- since the last time I logged on.Normally, the waning days of December are quite slow -- which is why a flurry of Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com8tag:blogger.com,1999:blog-1007184044073700857.post-37483020014690041732010-12-30T15:16:00.011-06:002010-12-30T20:56:42.884-06:00Is Peter Schiff Right About Housing? Schiff: ‘Home Prices Are Still Too High’The market can stay irrational longer than you can stay solvent.–John Maynard KeynesJust for argument’s sake, assume that Peter Schiff’s Op-Ed piece in today’s Wall Street Journal is right: namely, that even after a 30%-plus drop nationally the last four years, U.S. housing is still overvalued by at least 20% (never mind various benchmarks indicating that Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-38703005285359307152010-12-29T12:01:00.004-06:002010-12-29T16:54:47.083-06:00Seller Liability for Ice DamsWho Pays?Unfortunately, the way this Winter is unfolding, the first major (and expensive) repair facing many people who bought Twin Cities homes this Fall is for ice dams.Can they look to their Sellers to absorb some -- or all -- of the expense?Legal StandardTo answer the question, first revisit the two-pronged legal standard for recovery: 1) the problem existed before the Buyer purchased the Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-91630502171470051902010-12-29T10:00:00.009-06:002010-12-29T10:21:39.660-06:00Trust "The Experts?" Don't.The Wall Street Journal . . . or The Onion?Sometimes -- OK, a lot of the time -- I think The Wall Street Journal needs a meta-editor.Their job?To spot risible inconsistencies and contradictions between articles literally on the same page.Or, if you're reading online, between articles barely centimeters apart.Are They at Least Different Experts?So, The Journal's Web home page today features a Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-43575970121201595592010-12-29T00:01:00.006-06:002010-12-28T23:16:38.867-06:00"The Edgewater" in Uptown Minneapolis' Most Discounted Condo?I've blogged previously about deeply discounted single family homes in the Twin Cities. A second-floor condo (#201) in The Edgewater (pictured above) may very well be the Twin Cities' most discounted condo. Now at $749,823, the unit was originally listed for $1.981 million almost exactly three years ago.That's a whopping 62% reduction!"But Can You Afford the Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-40447264517208847622010-12-27T16:05:00.005-06:002010-12-28T13:09:59.310-06:00(Seasonally) Quiet Out ThereVery Still PondsOn the assumption that Edina Realty's City Lakes Office is a good bellwether, it's pretty quiet out there at the moment.How quiet?For the seven day period December 20-26 -- in other words, spanning Christmas -- there were a sum total of 26 showings for my office.By contrast, in early April, before the Buyer tax credits expired, weekly showings peaked at just under 300.In non-tax Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-78468250819376699772010-12-27T10:25:00.022-06:002010-12-27T16:01:08.107-06:002010 Person of the Year: Jon StewartThe New "Most Trusted Man in America??"Yeah, yeah, I know who Julian Assange is, and about WikiLeaks.And I'm aware that Time magazine chose Facebook founder Mark Zuckerberg as its "Person of the Year" -- if not a "jump the shark" moment, then awfully close.But my candidate for "Person of the Year" is Jon Stewart, of The Daily Show fame, and now an increasingly assertive political voice.People Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-72486589613013165462010-12-26T12:19:00.014-06:002010-12-26T18:09:32.591-06:00Realtor Business Card Collection "What's in YOUR Wallet?"I don't collect stamps or coins or baseball cards.I collect other Realtors' business cards.Not as keepsakes -- no one's that nerdy -- but to get design ideas.What makes for a good Realtor business card?One that stands out -- in a good way.Miniature BillboardsThe business card's front side is necessarily limited by certain conventions, i.e., the need to communicate your Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-55479999744888436272010-12-26T11:37:00.005-06:002010-12-26T11:55:54.991-06:00"Kids Say The Darndest Things""Isn't That Obvious?!?""Kids Say the Darndest Things" was the title of a TV show hosted by Bill Cosby, and decades earlier by Art Linkletter.It came to mind hearing my six-year old daughter (not her, that's a stock photo) talking on our (Skype-less) phone to her paternal grandparents in Arizona earlier today.Presumably fielding the question, "What are you doing now?, a couple days into Winter Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-75868777571737745962010-12-26T11:25:00.015-06:002010-12-26T23:56:50.821-06:00Review: 2011 Honda OdysseyTechnology Time CapsuleWant an x-ray snapshot of where technology is headed?Juxtapose an earlier version of a time-tested product used by millions -- in this case, Honda's best-selling minivan, the Odyssey -- and compare it with the new-and-improved version, the just-released 2011 model. Evolutionary, not RevolutionaryFaced with an increasingly long list of deferred maintenance on our warhorse Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-63734766270475666752010-12-25T10:03:00.016-06:002010-12-25T22:08:27.042-06:00"Minnesota ESPECIALLY Nice"Christmas & the Housing Market There are plenty of reasons to explain why the housing market decelerates around the holidays: it's customarily a time to celebrate with one's family; take a respite from work (vacation, even!); and generally reflect on one's -- shall we say -- existential circumstances.Plus, the weather (at least in Minnesota) is lousy.All in all, a time for spirituality -- notRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-45486221610986095422010-12-25T09:20:00.007-06:002010-12-26T12:17:46.654-06:00Recipe for Multiple Offers: 1928 Fremont Ave. South 21% Over Asking Price!Take an A+ location in Minneapolis' tony Lowry Hill neighborhood, strategically located in between Downtown Minneapolis and picturesque Lake of the Isles.Add a huge, 4,800 square foot all-brick triplex.Then put it on the market for $314,900 -- a whopping $351,600 below tax assessed value of $666,500.What do you get?Lots of Buyer interest -- and ultimately a sales price wellRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-51836616189668602902010-12-24T12:38:00.007-06:002010-12-25T09:40:13.128-06:00Stolen Bread at Whole FoodsInfinite Markup?Why is Whole Foods selling stolen bread? (and for so much, too).And isn't announcing it to the world rather brazen?The explanation, for fellow dyslexics, bad spellers and/or Emily Litella fans (Gilda Radner's old SNL character): that would actually be "stollen bread," a Christmas specialty (guess who celebrates Chanukah?). Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-59986550034067085252010-12-24T10:58:00.016-06:002010-12-24T14:37:09.712-06:00Google and "Advertising Arbitrage"Everything You Didn't Want to Know About Blog "Plumbing"Want to know why -- amongst other reasons -- Google is a $200 billion behemoth?Because it collects big bucks from advertisers to place their ads on millions of big and tiny Web sites, blogs, etc. (mine is decidedly in the latter camp).Meanwhile, Google essentially auctions off the English language, one word at a time, to the highest bidder Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-51310203258361531002010-12-24T09:05:00.021-06:002010-12-24T12:58:25.751-06:00Housing Trends 2011A Bigger Role for Home Warranties No, this isn't a call about where housing prices are headed next year.Rather, it's an observation that home warranties are becoming a bigger part of real estate sales.BackgroundLocal utility companies have offered home warranties for years now.The basic plan typically covers the home's heating plant (forced air furnace or boiler), water heater, fridge and stove; Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-47350841790612624072010-12-23T00:05:00.001-06:002010-12-22T23:41:25.130-06:00"Can You Sell a Home on eBay?" That was the question my client posed to me the other week.To answer it, I did a little investigating.eBay TutorialJust navigating eBay's instructions easily consumed an hour-plus. During that time I learned that eBay charges an "insertion fee," a "notice fee," and "picture hosting fees" – not to mention "optional feature fees" and "listing upgrade fees" -- all presented on various tables and Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-40627437657813433142010-12-23T00:01:00.002-06:002010-12-26T12:45:59.609-06:00Ice Dam First AidContractor AdviceBarely two hours after my previous post on ice dams, I received a very informative email from Barak Steenlage, an up-and-coming Twin Cities general contractor (and generally good guy).Here's what Barak's advises:If you have ice dams on your roof, the first thing you need to do to avoid water leaks is get all the snow and ice off your roof immediately. Once the ice dam is off yourRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-47020031785300251542010-12-22T14:38:00.006-06:002010-12-26T12:47:49.121-06:00"Anyone Know a Good Ice Dam Removal Company?"In Demand: Twin Cities Ice Dam ContractorsApril showers bring May flowers. --ProverbDecember blizzards bring January ice dams. --Ross KaplanJudging by my email inbox, the Twin Cities' potentially record-setting December snowfall has been a boon for contractors specializing in ice dam removal.If you aren't familiar with the phenomenon, ice dams occur when snow lower down on a roof -- typically Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-46914689564907456862010-12-22T09:00:00.006-06:002010-12-22T13:52:59.065-06:00Review: Foreclosures on Google Maps Not Ready For Prime TimeI just spent 20 minutes or so checking out foreclosures on Google Maps.My conclusion?It's hard to escape the feeling you are an unwitting beta tester (guinea pig) -- plus, it's apparent that Google's real aim is use limited free data to goose paid subscriptions (translation: Google's business model is cable, not TV).That is, once Google's data gets better.Test DriveThe Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-8796164621887649502010-12-21T14:54:00.010-06:002010-12-21T18:32:47.589-06:00TNAS Over the Holidays: How Prevalent?No Showings = 0% Chance of SellingHome Sellers who don't want to accommodate showings over the holidays -- or any other time that's inconvenient -- can elect to switch their home's status to "TNAS," or "Temporarily Not Available for Showing." While the "For Sale" sign in front will typically stay put, the home no longer shows "Active" on MLS, effectively putting the kibosh on showing requests.So,Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-75103261389010961002010-12-21T14:21:00.011-06:002010-12-21T21:55:59.331-06:00Watch this Space: Lake Street & Knox Ave. SouthNew Luxury Apartments UptownWhat does it take to break ground -- in Minnesota in December, no less -- for a new commercial project in a weak economy for development?An "A+" location, a proven concept, and access to capital (#3 follows #1 and #2).In this case, CPM Development and Shelard Group just broke ground off the northeast corner of Lake Calhoun for what will be a $10 million, mixed use Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-47000436334297818532010-12-21T10:23:00.007-06:002010-12-21T15:27:24.233-06:00On Tour . . . Sometime in MarchHuge Tour Day: January 11, 2010Due to a screwy 2010 Holiday calendar, the next Tuesday with a sizable Broker Tour will be January 11, 2011.Given that it will have been almost one month since the last well-attended Tour, December 14, there's likely to be a sizable backlog of new listings -- and an especially active Tour that day. Including my new listing at 11213 Minnetonka Blvd. "Hobby Farm in Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-89304220146424024672010-12-21T08:10:00.005-06:002010-12-21T10:13:01.172-06:00My Favorite Home ImprovementBetter Than Earplugs!Good fences make good neighbors.--proverbNo, they won't literally make your home bigger.It'll just feel that way, especially if you have kids.What am I referring to?Solid core doors.About $150 more than their hollow counterparts, solid doors are the cheapest way I know to make a home feel more private -- with the possible exception of ear plugs. Solid doors also are a big hitRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-18440439515425259592010-12-20T15:24:00.010-06:002010-12-20T16:22:27.819-06:00"Top Ten" Snowstorm WinnersMonday Night Football. Outside. Tonight. Not everyone in the Twin Cities is put out by the second major snowstorm in barely 10 days (the Dec. 10-11 blizzard dumped up to 20 inches locally, the most in 19 years!).Herewith is my "Top 10" list of snowstorm beneficiaries:10. Kids who just got new sleds -- or are getting them Christmas day.9. Local ski hills (yes, the Twin Cities has several).8. Snow Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0