Sign of the times: empty lot

Where: 7508 West Lake St. in St. Louis Park

What: .24 acre lot

How much: sold for $75k

When: deal closed just after Labor Day

Who: listing agent - Ross Kaplan; broker - Edina Realty

So what's the big deal about an empty lot in St. Louis Park?

It's not just a lot -- it's a lot I listed and sold for the owner. Almost 3 months ago.

And it IS Minnesota, where the ground is predictably going to freeze sometime soon, closing the window for digging out foundations (and thereby building) until Spring.

No Sign of Life

After a recent trip to Sam's Club, I swung by to see if the Buyer -- who had just gotten married and intended to build a new home -- had broken ground yet (the lot is a couple blocks west).

Nope.

In fact, the only change I noticed was some debris that hadn't been there before.

Following a hunch, I looked up the Buyer's St. Louis Park condo, which had been on the market since July.

Yup, there it was: 'Expired' (as of Oct. 31).

Eight Months Later: Deal . . or No Deal?

Where: 29XX Quentin (St. Louis Park's Fern Hill neighborhood)
What: 3 BR/3BA; *3,937 FSF. Year built: 1936
How much: $379,900
On Market: 7/23/08

I originally profiled this home way back in July, when it first came on the market ("Too Good To Be True"). The question I posed -- "4,000 FSF by Cedar Lake for $380k? Not So Fast" -- said it all. In fact, I estimated that the actual square footage was closer to *2,100 FSF.

So what happened?

Nothing -- or shall I say, "no deal."

After one, $10,000 price reduction in September, the listing expired in January.

Although a tough housing market certainly didn't help, exaggerating the square feet so much likely sealed its fate.