tag:blogger.com,1999:blog-10071840440737008572012-01-04T12:14:41.049-06:00City 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.comBlogger16941100tag:blogger.com,1999:blog-1007184044073700857.post-42319981384291405312011-09-21T09:12:00.003-05:002011-09-21T09:18:06.615-05:00Friendly ReminderOK, OK, sometimes a friendly reminder helps.So, here it is: way back in January, I switched from this blog to a new one; please visit me at http://www.rosskaplan.com/ for my last, oh, 574 posts (and counting!).Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag: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.com2tag: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.com1tag: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.com1tag: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 -- not Ross 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.com1tag: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.com1tag: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.com1tag: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.com2tag: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.com1tag:blogger.com,1999:blog-1007184044073700857.post-90843243925964431852010-12-20T15:11:00.010-06:002010-12-20T18:58:48.200-06:00"Th-th-th-that's All Folks!"See you in 2011! Even before today's snow, I was wavering about holding a Broker Open tomorrow for my new listing in Minnetonka.According to my Office Administrator ("OA"), I would have been the only Realtor in the Edina Realty-City Lakes office on tour (vs. the average 4-6 new listings -- and as many as 10 -- on a busier day).And that was on the heels of my very sparsely attended Open House in Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-32693958191198580602010-12-20T08:50:00.015-06:002010-12-20T15:09:14.083-06:00Buyer Feedback: 'Win, Place, or Show'Category #4: 'Out of the Money'My favorite metaphor for how close a listing is to selling is temperature ("Listings and Pots of Water").So, a new listing starts out at room temperature, heats up as showings (and second showings) accelerate, and reaches a boiling point by the time a strong offer (or two) comes in. I still think that that applies, but based on the feedback my listings have been Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-20999694885282616272010-12-19T10:10:00.008-06:002010-12-20T10:30:24.423-06:00Orange Juice "Sweat Equity"Old Houses and Fresh Orange Juice Here's how I introduced the concept of (orange juice) sweat equity to my three kids:You can go to a restaurant and order eight ounces of fresh orange juice for $3.50.Or, you can buy 5 pounds of fresh oranges at Target for the same price, and use your juicer to make a half gallon (retail value: $28).(The multiples for housing sweat equity aren't quite as Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-28926688424211706432010-12-19T09:45:00.010-06:002010-12-19T10:07:43.591-06:00Memo to Calhoun Village Owners"Don't Truck That Snow Away So Fast!"One of the fringe benefits :) of pulling a couple very late nights the last week is seeing the procession of large trucks show up around 1 a.m. to clear my office parking lot of snow.Since the blizzard that hit the Twin Cities a week ago, the Calhoun Village parking lot has shrunk to about half its usual size, while mountains of snow consumed the Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-41719583258926708412010-12-19T09:13:00.008-06:002010-12-19T09:33:00.662-06:00Year-End Realtor HousekeepingStatute of Limitations for DealsHow long do you need to retain your files for closed deals?Barring fraud, the statute of limitations for raising a complaint following a transaction is two years.So, it's (well past) time to chuck paperwork and notes for those 2004 sales I've been hanging on to.The one exception to the foregoing?Tear-downs.When a home I've sold is subsequently torn down -- or Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-81708610705015937522010-12-18T17:09:00.008-06:002010-12-18T21:54:20.446-06:00Is the Buyer's Budget Negotiating Leverage? Buyers Whose Eyes are Bigger Than Their WalletsWhat is the Buyer counterpart to Sellers who "need" a certain price to consider selling?Buyers whose final (first?) offer is 100% of their budget, and therefore can't go any higher. So, the Buyer's agent will typically couch the offer in terms of, "I know this is a mediocre (or worse) offer for this house, but that's all my client can afford."Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-62030382150922527492010-12-18T09:11:00.016-06:002010-12-18T09:51:12.312-06:00Should Renters Hire Inspectors?Rental Repair Risks; or, Becoming an (Unpaid) Property ManagerIn the history of the world, no one has ever washed a rented car.--Thomas FriedmanUntil recently, my answer to whether prospective renters should hire (and pay for) a professional inspector would have been "no."That's because if something non-trivial breaks, most leases specify that the owner -- not the renter -- is responsible. It's Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-8322471199903344442010-12-16T20:00:00.007-06:002010-12-16T20:11:50.835-06:00December Discounts the Deepest? Weighing 8/10 of a Bird in the HandIt's always tougher for a Seller to reject an offer when the alternative is . . . nothing. That's never more true in the housing market than in the waning days of December, with the holidays upon us and Buyer activity slowing to a crawl.So, instead of representing the proverbial "bird in the hand," at least some Buyers try to snatch properties by dangling 9/10 Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-33833072384591232102010-12-15T12:14:00.013-06:002010-12-15T12:30:14.931-06:00Attention! Business Opportunity"Striking While the Iron is . . uh . . Hot"I'm not in the Twin Cities snow shoveling business, but if I were -- and was good, reliable, etc. -- I'd be racing to put out a big marketing piece right about now.Why's that?In the aftermath of the Twin Cities' weekend blizzard, there apparently are A LOT of folks dissatisfied with their existing services, and looking for replacements.Or, contemplating Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-13136938191052566722010-12-15T11:53:00.006-06:002010-12-15T12:10:05.470-06:00Advantages of a Big Broker"Who Ya Gonna Call?"What do you do if your client wants to know about good public schools near Mounds View, and you don't have a clue?If you're a solo Realtor, I suppose you pick up the phone, and start making phone calls.Lots and lots of phone calls.Good ConnectionsOn the other hand, if you're with Edina Realty -- the Twin Cities' biggest broker by number of Realtors, and with the most local Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-58127902882905106032010-12-14T09:43:00.011-06:002010-12-14T10:55:05.968-06:00Snowstorm Aftermath: City Streets as Bobsled Run Nowhere to Put it AllAfter the 1989 earthquake that rocked the Bay Area, multiple friends independently reported the same phenomenon: people on the freeway pulled over to check what appeared to be four, simultaneous flat tires (such was the shaking).Three days after the biggest Twin Cities snowstorm in 20 years, I can report that driving area streets feels like being in one big, bobsled Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-91221119796978780772010-12-14T00:01:00.003-06:002010-12-14T08:42:10.951-06:00"First Come, First . . . Wait??"Can Bank-Sellers Be Choosers?Days 0-7: No offers considered. 8-12: Offers considered on property ONLY from NSP buyers, municipalities, non-profit organizations & owner occupant. 13+: All offers considered from all buyers.--Excerpt, foreclosure on MLSWith the caveat that I don't specialize in foreclosures, this is the 4th time in as many weeks that I've seen a variation of the language shown aboveRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-85694374401284974272010-12-13T15:59:00.009-06:002010-12-13T20:23:34.171-06:00Exaggerated Square FootageToo Much of a Good ThingIf you were a 5' 6" man, would you try to pass yourself off as 5' 9"?I wouldn't condone it -- but I'd at least understand it.But why would a 6' 5" man say he was 6' 9" -- unless, perhaps, he was an NBA player?In a nutshell, that was my reaction showing a Plymouth home earlier today that appeared to be well below its stated 4,600 finished square feet (to my eye, at least Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-79379259956369380062010-12-13T09:07:00.006-06:002010-12-13T09:17:27.817-06:00The "Too Precise Price": Exhibit AWhy Not $145,403.14?This South Minneapolis home, located at 44xx 15th Avenue South, dropped from $149,900 to $145,403 yesterday.What's magic about $145,403? (vs. $145,729? Or why not $145,403.14, if you really want to be precise?).The answer is, nothing.Rather, the owner and their Realtor are trying to avail themselves of two things: 1) Buyers' presumption that exact prices are more Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-27567409142418970282010-12-12T18:29:00.008-06:002010-12-12T20:41:52.566-06:00Cold Weather: Minnesotans vs . . . Everyone Else"Cold (and Snowy) 'Nuff Fer 'Ya?"With (mostly) stoic Minnesotans recovering from a one-two punch of 16" of snow and subzero windchill, I thought now would be an opportune time to recycle an email I got a couple years ago (sorry, don't remember the source).Enjoy.50 above zero:Californians shiver uncontrollably.People in Duluth sunbathe.20 above zero:Floridians wear coats, thermal underwear, glovesRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-6356166258077786652010-12-12T09:51:00.007-06:002010-12-12T10:08:31.169-06:00"TNAS" or "PNAS?" Is Six Months "Temporary"?I tripped across this Minnetonka home in the course of doing a CMA ("Comparative Market Analysis") for an upcoming listing. Originally listed on June 28 last Summer, it was switched to "TNAS" ("Temporarily Not Available for Showing") five days later -- and has remained there ever since.Maybe that should now be "Permanently Not Available for Showing."What appears to be Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-30799304123757422542010-12-11T08:59:00.011-06:002010-12-11T10:45:06.166-06:00Pre-Blizzard "To Do" ListThe Sound of No SnowplowsHow do you prepare for the biggest forecasted blizzard in years? (Now upon as, just as predicted*).Stocked up on groceries?Check.Gas tank full?Check.DVD's for the kids?Got 'em.Wash the car?Wash the car?? Rescuing the RescuersActually, one of the longer lines I was in yesterday was at the car wash.With temperatures forecast to be subzero, the window for washing your car Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-40256059915884190202010-12-10T08:09:00.011-06:002010-12-10T09:03:44.070-06:00Blizzard this Weekend?Twin Cities Weekend Weather ForecastNormally, I check when the Vikings are playing before I schedule my Sunday open house(s). However, this weekend, that's trumped by a forecasted blizzard developing tonight and intensifying Saturday.Conditions are supposed to improve Sunday -- but the high temperature then is only supposed to reach zero.All in all, not exactly ideal conditions for Sunday open Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-11234730893875734492010-12-10T00:01:00.001-06:002010-12-10T00:04:39.439-06:00Revisting 1415 June Ave. Want to Sell This One? Help Defray Property TaxesI originally posted about 1415 June Ave. -- in Golden Valley's South Tyrol Hills neighborhood -- last Summer ("$700k Below Tax Value").At the time, the asking price was $799,900 -- against a tax assessed value of $1.504 million.Thanks to that latter number, the home carries an almost $24,000 annual property tax bill.Which likely explains why it's Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-38033597592877561462010-12-09T11:51:00.011-06:002010-12-09T18:48:20.607-06:00Calling Sun Country's Bluff"What Makes You Think We Want to Sit Next to Our Kids??"So, I just logged off Sun Country's Web site, having booked tickets to AZ this winter to visit my parents (and get some relief from MN winter weather).The fare was $75 per seat less than Delta -- a no brainer for a family on a budget.However, the always-annoying process now has a few, extra wrinkles.Like:--A field for you to enter your "DHS Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-52429681829537320412010-12-08T09:31:00.018-06:002010-12-08T09:59:37.421-06:00Year-End Pick-Up in ActivityThe Limits of Statisticsin Valuing HomesIt's only Wednesday, and I've already fielded three calls this week from appraisers wanting "scoop" on recent, closed sales that I've handled.A year-end pick-up in deals?Well, that, too. However, in each case the appraiser was working on a refinancing application. To approve the new loan, the lender needed to establish current market value, which in turn Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-21957072965168200902010-12-08T09:18:00.007-06:002010-12-08T10:09:56.417-06:00"Market Crash on 12/31!?""Well, It'll be the End of SOME Month"Just a quick housekeeping note:As I've mentioned recently, I'm working on a new-and-improved blog design for 2011; amongst other things, the upgraded version will let me better the control the ads that appear around the periphery of this site.In the meantime, I (you) have to put up with an especially annoying series of ads posing the question, "Market Crash Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-23960074085762072642010-12-08T09:12:00.002-06:002010-12-08T10:08:31.882-06:00Identifying with Felix Hernandez2010 Year in Review -- Realtor's VersionLooking back over 2010, a lot of Realtors had years like Felix Hernandez -- minus the accolades. Felix who?Felix Hernandez is the Seattle Mariners' pitcher who just won the AL Cy Young award, despite only having a measly 13 wins (he also had 232 strikeouts and a league-leading 2.27 ERA).Stellar Performance in a Tough Market What made those statistics Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-9908929067448845422010-12-07T11:14:00.008-06:002010-12-07T11:43:02.437-06:00Why Are Retail Investors Skeptical?It's Supposed to Work in the Midwest, at LeastOne of the all-time high school pranks growing up -- at least according to urban legend -- was going to the mall and acting like you lost a contact lens.Step 2: a couple confederates join your "search." What's supposed to happen next is, clueless passersby join the search while the perpetrators withdraw to the sidelines and watch (and suppress their Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-87086184438796520312010-12-07T10:54:00.009-06:002010-12-11T09:19:42.070-06:00Negotiating Advice"Never Negotiate Hungry" (or Tired)Some of the best negotiating advice has very little or nothing to do with actually negotiating.I was reminded of that reading an article about how to negotiate the purchase of a new car."Eat before you go to the dealer," the author advised, because the process could take a couple hours, and if you're starving, that will make you distracted and impatient (not Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-71654657332736783892010-12-07T00:01:00.005-06:002010-12-07T08:16:40.175-06:00Buyers' #1 Bugaboo?Divining Buyer PsychologyWhat's keeping Buyers from buying?I see three factors operating at the moment:One. Can't qualify for a mortgage/bad credit.If you don't have a job, or any money in the bank, you're not going to get a loan.At least not one from a bank.Sadly, a couple years of grinding recession has pushed more people into this category.Two. Can't sell what they have.You've got a job and Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-65826049356698401122010-12-06T09:50:00.012-06:002010-12-06T12:27:24.042-06:00"Dear Ben" (er, Santa Claus)An Open Letter to the Federal Reserve ChairmanDear Ben Bernanke (er, Santa Claus):Speaking for millions of my fellow investors, I want to thank you for all your efforts to date, uh, "supporting" stock prices.I/we are certainly better off for it (at least in the short run; in the long run, direct federal interference in markets is a terrible precedent).However, perusing my portfolio, I can't help Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-58572634390750507492010-12-06T09:25:00.004-06:002010-12-06T10:39:07.057-06:00Translating Realtor-SpeakEnglish, Please!LL/BR is non-conforming. Lkbx on Bk dr. Frnt prch/crftsmn wdwrk/ tiled bath/gleaming Maple flrs/HVAC-elect '05, oven '09/lrg walkin closet/maint-free ext./prof lndscpng/gorgeous 3 seas porch! Wkshp in gar.--Excerpt from actual MLS listing With only 256 characters and spaces in MLS's Agent and Public remarks fields, there is natually a temptation to try to cram too much informationRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-78037232001740423012010-12-05T16:17:00.012-06:002010-12-06T08:03:42.922-06:00Review: 'Glengarry Glen Ross'All-Star Cast, Lame MovieIn the mood for a good movie about real estate (as I was the the other night)?Unfortunately, "Glengarry Glen Ross" isn't it.Either a good movie, or about real estate (oddly enough).Instead, the 1992 movie -- adapted by David Mamet from his Pulitzer Prize-winning play -- is about the cutthroat environment and high pressure sales tactics employed by the denizens of a Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-74011076095473435252010-12-05T10:12:00.018-06:002010-12-05T16:17:43.144-06:00The Limits of Sales IncentivesOverpriced + Fat Payout = OverpricedCan a whopper of an agent bonus move what appears to be an overpriced listing?This South Minneapolis duplex (pictured above) would certainly seem to be an excellent test case.Listed Friday for $430,000, what jumped about the listing -- besides the modest curb appeal and aggressive asking price -- was the $7,500 agent bonus being dangled in the "Agent Remarks" Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-12288402124813854522010-12-04T10:11:00.018-06:002010-12-04T16:54:28.776-06:00Memo to Groupon: 'Hurry, This Deal Expires Soon' PointCast . . . Yahoo! . . . Groupon??Insiders say a tentative deal was struck in which News Corp. would acquire PointCast for $450 million. But before the papers could be drafted, issues surfaced over PointCast's revenue projections and the price tag, insiders say. The offer simply went away.--"PointCast, The Rise and Fall of an Internet Star" ; Bloomberg BusinessWeek (April 26, 1999)So, Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-66183342632432400142010-12-04T09:48:00.012-06:002010-12-04T11:15:12.332-06:00Plowed out, right on time!Good Service at a Fair PriceWhether the weather is cold,Or whether the weather is hot,We'll weather the weather,Whatever the weather,Whether we like it or not.--"Little Bear" children's storyI know how to fix Washington: put my snowplow contractor in charge (or any of the other thousands of private snowplow operators that keep the Twin Cities up and running, no matter the weather).Obviously Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-25309466997285647452010-12-03T14:16:00.014-06:002011-02-18T16:00:04.461-06:00Now, THAT's PatienceBut, Does She Have Grandkids Yet?"The duplex at 21xx Irving Ave. South just Northeast of Lake of the Isles in Minneapolis' Kenwood neighborhood originally came on the market in Spring.Spring, 2007 -- that is.Asking price: $1.2 million.After some short intervals off the market, and a couple intervening price reductions, it's still for sale today.Current asking price: $900,000.Given that the Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-45772399638014660602010-12-03T13:18:00.006-06:002010-12-03T13:25:41.945-06:00Sign of (Realtor) NeglectHow can you tell if your Realtor is attentive?Put it this way: there are plenty of ways to tell if they aren't. Starting with, the "For Sale" sign and/or sign riders (indicating Open House times, the Listing Agent's name, etc.) in front of the property are dangling in the wind for more than a day or two -- and there hasn't been any bad weather recently. Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-59732357315619077112010-12-03T08:17:00.006-06:002010-12-03T08:34:21.505-06:00Turkey's and FSBO's: Practice Makes Perfect51 Weeks to Thanksgiving, 2011!Working off what seems like a couple tons of Thanksgiving leftovers, it occurs to me that novice Turkey preparers like myself and FSBO's ("For Sale by Owner's") have a lot in common. Namely, we're not any good because we do it so seldom. "Wait Till Next Year"Fresh off my 2010 Thanksgiving efforts, I'm convinced that I've now learned from my mistakes, and will be Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-71095412605512006582010-12-02T12:55:00.005-06:002010-12-02T14:38:09.397-06:00Geek Chic -- Realtor Version Color-Coordinated Post-it Notes Yeah, I know it's geeky to walk around with pens and Post-it notes in my shirt breast pocket. But realistically, that's the only way to keep track of details while talking to clients on the fly (and keeping notes for the stray blog post) all day. To minimize the "geek factor," I make a point of making sure my Post-it notes are color-coordinated.So, today, my Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com3tag:blogger.com,1999:blog-1007184044073700857.post-59550246954299932372010-12-02T10:59:00.008-06:002010-12-02T11:13:16.566-06:00"Bubbling Up"Mortgage Rates, Gas Prices on the Move One of the signs that's something afoot in the financial markets -- as it is now -- is that interest rates re-set several times in one day.(More typically, they re-set every few days.)Although the increments have all been small, that's been happening all week in the credit markets.Think of the re-sets -- all up, by the way -- as a series of 2.0 and 3.0 Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-37286862916677815192010-12-01T22:13:00.018-06:002010-12-02T12:54:10.667-06:00"Non-Buyer's Remorse"Coaching 1st-Time BuyersEveryone knows what Buyer's remorse is: the feeling you get, after you've bought something, that you just made a horrible mistake.So, what is non-Buyer's remorse?The feeling you get when you find out that the house you were furiously deliberating about buying, instead sold to someone else.I counsel first-time Buyers weighing a purchase decision to imagine how they'd take Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-62344236713683160052010-12-01T16:17:00.008-06:002010-12-01T22:52:21.332-06:00"Guaranteed" Pre-Approval LettersPorous Guaranty; or, "But, Can You Take it to the Bank?"I feel the same way about "guaranteed" Pre-Approval Letters that I do about "guaranteed" pizza delivery or promises of "on-time" service calls by my cable company: a) Officially dubious; andb) Reminded of the reason companies (often) need to offer such promises in the first place, i.e., reputations for lacklustre and/or tardy Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-91787665151416783762010-12-01T09:34:00.004-06:002010-12-02T08:07:38.390-06:00Fixing Wall Street: "So, What Do You Do NOW?"Looking for the New Volcker'sRegular readers of this blog know that I could hardly be a harsher critic of modern-day Wall Street: its practices; its obscene pay for little or no economic contribution ("Wall Street is Worthless"); and its corrupting influence on our government and society generally.And I've got plenty of company. As the fog lifts on the cause(s) of The Crash of '08, more and more Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-80439496719099087092010-12-01T08:15:00.000-06:002010-12-01T08:21:31.037-06:00Dividends & Blog HitsDo you know the only thing to give me pleasure? It's to see my dividends coming in.--John D. RockefellerTrust me, I have very little in common with John D. Rockefeller, starting with my balance sheet.And blog hits don't pay the bills -- commission checks do.But I confess, substitute "blog hits" for "dividends" and I relate -- just a little -- to Rockefeller's quote (above).That's especially trueRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-8545884291919662172010-11-30T10:42:00.001-06:002010-11-30T10:46:59.308-06:00"Evelyn Harper, Realtor" The Dean of TV RealtorsI find Ty Burrell's charactor on "Modern Family" to be more believable ("Phil Dunphy, Realtor").But for the record, easily the longest running TV realtor would be Evelyn Harper on "Two and a Half Men," played by the wonderful Holland Taylor (also Tom Hanks' boss on the show where he got his start, "Bosom Buddies").While I don't know anyone in the business who reminds me ofRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-65406922650689128832010-11-30T08:33:00.002-06:002010-11-30T08:40:16.304-06:00Realtor Refrain: 'Put it in Writing' Realtor Broken RecordLike a lot of Listing Agents (representing Sellers) these days, I find myself sounding like a broken record.As in the following:"Would your client entertain a really low offer?""Put it in writing.""Would your Seller consider an offer 30% below their asking price?""Put in writing.""Would your client pay $10,000 in closing costs, replace the (functioning) furnace, and throw inRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-91532233696653145052010-11-30T01:08:00.006-06:002010-11-30T01:17:51.000-06:00Groupon's Sales Price: No Bargain?Google is near a deal to acquire Groupon, the pioneering online discounter, for as much as $6 billion.--The New York Times (11/30/2010)There's got to be not a little irony in Groupon being bought out at something like 15x its annual revenues of $350 million.By contrast, established consumer goods companies can sell for 2x-3x revenues.Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-81342171780096589982010-11-30T00:45:00.003-06:002010-11-30T08:41:59.300-06:00Finding "The One"Prelude to a DealCourting my wife in Manhattan in the late '90's, I remember my (quick) progression from "Friend," to "Special Friend," to "Boyfriend," to "fiance," to "husband."(The only interim title that I really objected to was "Special Friend," which sounded vaguely insulting.)Is there a similar progression in a real estate "courtship?"Reading the SignsUsually, there is.To the Buyer's agent,Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-22329352747616474262010-11-30T00:00:00.006-06:002010-11-30T00:08:55.689-06:00Realtor Dreams -- and NightmaresTicking Clocks and Cold SweatsAs an undergrad and Law School student, I would occasionally dream that I was hopelessly behind on an exam, with time running out (once, the exam was literally in an unrecognizable foreign language).As a lawyer, that was replaced by a new, albeit infrequent nightmare: that I was months behind turning in my timesheets -- used to bill clients -- and that my records Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-34718969733884987632010-11-28T12:35:00.007-06:002010-11-28T13:02:02.883-06:00Realtor as Conduit -- and FilterWhen Do You Tell the Seller?The Buyer's Agent called you up after the first showing to say it went well, and to ask a few questions about the house's condition.The second showing was yesterday.Then, mid-afternoon today, the Buyer's Agent called to say that she is meeting with her client tonight to write an offer, and that she expects to have it to you tomorrow morning.Question:When do you tell Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-63744783052414143762010-11-28T10:03:00.009-06:002010-11-28T12:46:57.989-06:002015 Housing PredictionAdvice to PrognosticatorsI'm drafting my 2011 letter to clients now, which seems like a good time to recall this (anonymous) advice to prognosticators:"The ideal time frame for predictions is 2-4 years out. That's immediate enough to compel people's interest, but distant enough that if you're wildly off the mark, no one will remember."That may work for stock market or global warming predictions, Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-88155456366361849382010-11-28T09:52:00.001-06:002010-11-28T13:04:05.838-06:00"We Bailed OURSELVES Out??""We" Minus the "Us"; or,More Pronoun ConfusionThe bailout and stimulus that we have administered to ourselves have left us without much cushion. There may be room, and even necessity, for a little more stimulus. But we have to get this moment right."--Thomas Friedman, "Got to Get This Right"; The New York Times (11/27/2010)I suppose if you're in London or Berlin or Beijing or wherever Thomas Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-84122695610923968672010-11-27T11:53:00.009-06:002010-11-27T20:30:20.241-06:00Selling Wall Street Journal Subscriptions Against My WillCity Lakes Real Estate Blog 2.0: Due Early 2011A capitalist will sell you the rope to hang him with.--LeninI suppose the blogging equivalent of Lenin's famous line is, "a blogger whose ads are served by Google will end up promoting that which they denounce."Which explains all The Wall Street Journal ads bracketing my last post (Google samples key words, and serves ads that appear to be related --Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-28939677782082554342010-11-27T10:53:00.029-06:002010-11-28T09:34:20.024-06:00The Palin-ization of The Wall Street Journal"Glister," Rupert? Really, "Glister?!?"You knew that Sarah Palin was running (kind of) for President, but did you also know that she apparently is now publishing The Wall Street Journal?How else do you explain:--Headlines like this one, from Friday's paper: 'Behind Gold's New Glister: Miner's Big Bet on a Fund."--A front page that now features both news leads and ad leads ("The Wall Street Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-32390837205972139902010-11-26T17:22:00.006-06:002010-11-26T17:40:25.254-06:00Sitting out Black FridayStampeding -- the Other Way If you don't like shopping, and you don't like crowds -- at least, away from sporting events -- the charms of Black Friday can be lost on you (me).On the other hand, today was a great day to buy office supplies at Office Max (I had the store to myself!).Other stops: the terrific downtown Minneapolis Public Library (also uncrowded, and only $3 for up to an hour in theirRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-45813416386439616032010-11-26T16:23:00.003-06:002010-11-26T16:28:13.672-06:00Virtually Staged Family Room -- "After" Shot The digitally staged Family Room (above) is around the corner from this digitally staged Living Room.Rather dramatic, wouldn't you say?Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-45089224415585537222010-11-26T16:19:00.000-06:002010-11-26T16:23:49.187-06:00"Before" Picture - Family Room I couldn't resist one more "Before" and "After" pairing, showing the game-changing potential of virtual (digital) staging.See the next blog post, immediately above, for the "After" shot.Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-86475709851472138932010-11-26T00:14:00.003-06:002010-11-26T00:22:09.071-06:00Irish Austerity: "Crimes and Mistakes"(Modern) History Quiz"You have to wonder what it will take for serious people to realize that punishing the populace for the bankers' sins is worse than a crime; it's a mistake."Who said the above, about what?A. President Obama, about TARP, zero percent interest rates, and other Wall Street bailouts.B. FDR about investment bankers, circa 1933.C. Paul Krugman, about the so-called IMF bailout of Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-90390802769773800842010-11-24T15:00:00.007-06:002010-11-24T23:53:04.013-06:00"i.everything?" "i.world?" i.giveup Gadget OverloadIf you're over 50, somewhat technology-conversant, but definitely not a first (or even second) adopter, what do you call Apple's proliferating galaxy of electronic gadgets ("iphone," "ipad," "itouch," etc.)?My brother-in-law's catch-term is "i.whatever."Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-75370450501806134092010-11-23T12:31:00.007-06:002010-11-23T12:45:22.586-06:00So, Which is It? Down 2.2%? Or Down 26%?Confusing Housing Statistics"U.S. Home Sales Fell 26% in October."--The New York Times (11/23/2010)"Home Sales Fell 2.2% in October."--The Wall Street Journal (11/23/2010)So which is it?Both, actually.Home sales fell 26% in October, 2010 compared with October, 2009.And they dropped 2.2% compared with the preceding month (September, 2010).However, the real statistic of note for the Twin Cities Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-78978561601065973672010-11-23T10:08:00.018-06:002010-11-23T12:09:16.856-06:00Living Room - After (Virtually Staged)Now, Just Add Hardwood Floors!If this "Before" and "After" sequence doesn't make you a staging convert -- nothing will.Even this photo doesn't do the room justice, because there are oak hardwood floors under the carpet.My favorite details? The reflection in the (virtual) mirror above the Fireplace, and the (far end of the) Dining Room chair and table, in what is now an empty room. This virtually Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-64663470496262982692010-11-23T10:06:00.000-06:002010-11-23T10:08:41.982-06:00Living Room - BeforeRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-78782647525949935052010-11-23T08:53:00.005-06:002010-11-23T09:00:59.400-06:00North - South Korea Conflict = Lower RatesHeightened International Tension Strengthens DollarThe conflict between North and South Korea is having a predictable effect on credit markets this morning.Specifically, whenever international tensions kick up, there is a flight to safety, which -- at least until now -- translates into demand for U.S. dollars and U.S. debt.That strengthens the dollar, and (also) drives interest rates lower, Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-60520803379480681532010-11-22T22:20:00.004-06:002010-11-22T23:06:08.627-06:00Thanks, Technical Reinforcements!Now, THAT's ServiceOne of the biggest emergencies a Realtor can have is to have scheduled showings and a waiting client -- and no way to get into homes because their SmartKey is malfunctioning.That wasn't quite my predicament late this afternoon -- my showings are scheduled for tomorrow morning -- but close enough.James Allard at Technical Reinforcements arranged to be available by phone at 7:30 Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-71688951900746443802010-11-22T11:35:00.014-06:002010-11-22T17:36:40.127-06:00Wall Street's "Uncontained Failure"Qantas' Pilots vs. Wall Street'sHere's a thought, apropos of (almost) nothing:The cure to our economic woes has nothing to do with finding exactly the right monetary policy, or getting the Chinese to price the Yuan "fairly," or bridging today's yawning political chasms to reach necessary compromises.The first step is to seriously and completely address the mess (still) left over from the Crash ofRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-842398905509084042010-11-22T08:50:00.009-06:002010-11-22T15:50:28.409-06:00"The Unrealistic Buyer": Top 10 SignsUnrealistic Sellers Meet Their MatchTheir counterpart, the Unrealistic Seller, has received more ink and attention, but these days Unrealistic Buyers are just as numerous -- and intractable.As a public service to would-be Home Sellers, herewith are my top ten signs that you may be dealing with an Unrealistic Buyer (any resemblance to real persons isn't purely coincidental) :10. They're on their Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-8601652060312918462010-11-21T21:58:00.001-06:002010-11-21T22:06:11.376-06:00"You Mean They Can STILL Screw Their Clients??""Cruel Kindness" -- and Vice VersaCruel to be kind in the right measureCruel to be kind it's a very good signCruel to be kind means that I love youBaby, got to be cruel, you got to be cruel to be kind--Nick Lowe; lyrics, "Cruel to Be Kind"Which of the following professionals have a legal duty to put their customers' interests ahead of their own?A. Stock BrokerB. Insurance AgentC. RealtorD. Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-33314261221019871802010-11-21T11:17:00.006-06:002010-11-21T14:34:30.650-06:00Weather and the Minnesota Housing MarketOf Skating Rinks & Steep DrivewaysThere are brilliant, sunny days, when every listing shows great, and the home's physical setting and views are shown off to their best effect.And then there are days like today.If you're reading this blog outside Minnesota, the Twin Cities awoke to a freezing rain and roads that resembled skating rinks.For Sellers with steep driveways, it may be a good day to Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-77086831358402709202010-11-21T08:29:00.006-06:002010-11-21T08:37:18.301-06:00When .3 Looms Large1.5 Story vs. 1.2 StoryWhen is .30 huge?When it's the difference between a home that is 1 1/2 stories and 1.2 stories (and no, it's not kosher -- or mathematically accurate -- to round up to 1.5 from 1.2).A home that is a legitimate 1 1/2 story can have an upper level that has almost as many finished square feet as the main level.However, when it's a 1.2 story, the upstairs overhead is typically Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-42424141043023703402010-11-21T08:19:00.004-06:002010-11-21T22:05:19.271-06:00Qwest (Lack of) Technical Support"24/7?" Try, "10/5"So, if you rely on a Qwest DSL line for your Internet access, and it goes down, guess where Qwest's technical support line directs you. Yup . . . the Internet -- specifically, Qwest's Web site.The recording proceeded to inform me that technical support's regular hours are Monday thru Friday, 8 a.m. to 6 p.m.There you have it: in a 24/7 world, Qwest is very much 10/5 (10 hours Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-20946232015137180352010-11-19T12:00:00.006-06:002010-11-21T08:29:23.660-06:00Finding the Right Handyman for the Job3 Keys, or, "Highest Common Denominator" What's the key to getting good value for your "handyman dollar?"Actually, there are three:One. Having the names of a couple reputable handymen, with a range of skills and hourly rates;Two. Knowing how expensive/demanding your individual repairs are; andThree. Matching your repair list to the handyman.That means identifying the most challenging repair on Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com0tag:blogger.com,1999:blog-1007184044073700857.post-28160830756053405552010-11-19T09:00:00.008-06:002010-11-19T11:43:47.981-06:00"Our" Banks, Warren? No, YOUR BanksWarren Buffett's Freudian Slip This land is your landThis land is my(?) landFrom California to the New York islandFrom the red wood forest to the Gulf Stream watersThis land was made for you (and me?).--Lyrics, "This Land is Your Land"; Woody Guthrie (tweaked by Ross Kaplan)The first time I read "Pretty Good for Government Work," Warren Buffett's defense of the bank bailouts in The New York TimesRoss Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-20445486759920915932010-11-18T19:45:00.005-06:002010-11-18T20:06:12.087-06:00Mill(stone) Rate 2011 Hennepin County Property TaxesEvery time I think I'm a Democrat, they do something stupid. Everytime I think I'm a Republican, they do something greedy.--Jay LenoWhat do you call proposing to steeply raise property taxes against a backdrop of weak home prices and an economy just emerging, maybe, from recession?How about, greedy and stupid?Like a couple hundred thousand other homeowners in Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com2tag:blogger.com,1999:blog-1007184044073700857.post-23317856990074338382010-11-18T13:25:00.007-06:002010-11-18T17:19:58.039-06:00Dried vs. More Dried Apricots?George Carlin-ismI promise to limit myself to only a couple George Carlin-ism's per year (last one: 'What's the Past Tense of Sightsee?"). In that vein, I pose the following question: what happens if you don't seal a bag of dried apricots? (as some people in my household insist on doing). Aren't they already dried out??P.S.: You're not an apricot aficionado if you don't know the difference Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-26122397820285473522010-11-18T08:30:00.008-06:002010-11-18T11:21:16.994-06:00Trick Photography?5229 Duncraig Road in Edina HighlandsIn a post earlier this week (The Far-Away(?) Buffet), I discussed clues that something "just isn't right" in a particular photo.So, is the apparently huge Living Room shown above for real?You 'betcha.The MLS dimensions are 27' x 17', or 459 square feet -- that's the size of some one bedroom houses in South Minneapolis.Meanwhile, the huge Living Room is Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-78214778154681608462010-11-18T00:48:00.004-06:002010-11-18T01:00:21.515-06:00Showing Feedback. Or Not.Deafening Silence"If you don't have anything nice to say, don't say anything at all."It drives (some) Sellers nuts, but the cold reality is that not all Buyer's agents respond to requests for showing feedback.Many requests.My standard practice as a listing agent (representing a Seller) is to make 2-3 attempts to find out how a showing went, especially the first 7-10 days a home is on the Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1tag:blogger.com,1999:blog-1007184044073700857.post-59832702033659704202010-11-18T00:22:00.020-06:002010-11-18T13:49:35.782-06:00"Quantitative Easing??" Try, "Printing More Idiots"Is the Fed Repeating Wall Street's Sins?Joe Nocera: At a certain point, Wall Street ran out of clients to sell [securitized debt] to. So the only way it could keep the machine going was to buy it themselves.Jon Stewart: So, they infected themselves. At the end, they themselves became vampires.[Which suggests] a new theory on the financial crisis: it occurred because of an idiot shortage. If I'm Ross Kaplanhttp://www.blogger.com/profile/12546640628888853351noreply@blogger.com1