$2,000 a Bedroom

Powderhorn Park Duplex for $18,000

Where: 30xx 11th Ave. South, in Minneapolis' Powderhorn Park neighborhood.
What: listed on MLS as a duplex with 8 Bedrooms and 4 Baths, "rehab needed."
How much: Listed for $19,000; sold for $18,000 (tax assessed value = $83,500).
When: listed 9/15; closed 10/21.

Clients asked me to look up how much this South Minneapolis duplex sold for.

You were right, guys: under $20,000 . . .

"Traditional Seller" -- Decoded

Mom, Apple Pie -- and No Banks

Probably the most popular term on MLS at the moment -- right after "mint," "move-in condition," and "experienced short sale agent" -- is "traditional seller."

No, that doesn't mean the owners believe in "Mom and apple pie," dress conservatively (no face jewelry or tattoos), or otherwise have an "Ozzie and Harriet" profile (if you're too young for that reference, think, Phil and Claire Dunphy from Modern Family).

Rather, it means that: a) the Sellers have title to the home, not a bank (it's not a foreclosure); and b) they don't need the bank(s) that hold their mortgage to take a haircut for them to be able to sell (it's not a short sale).

Listings with this language are most common in areas where foreclosures and short sales are dominant, and "traditional sellers" need a way to distinguish themselves.

"S 53X119X86X129" vs. "553x119x86x129"

Listing Info Typo's

Notice the difference between the two strings of numbers above? (both are lot measurements for a home just listed on MLS).

You would if you saw "553 x 119 x 86 x 129" on MLS, and then looked at the line immediately above it, which says that the home is on a .20 acre lot.

Unh-unh.

There's no way you get a .20 acre lot when one of the lot sides is 553 feet (200' x 200' is slightly less than a full acre).

The .20 acre seemed WAY off, so I jumped to the tax records, where I saw the second string of numbers ("S 53 X 119 X 86 X 129").

Bingo!

The "S" at the beginning got misread as a "5."