Recipe 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 well above the asking price, or in this case, $380,547.

The deal closed last week.

And yes, it was a bank-owned foreclosure; it was first listed 3 years ago -- as a potential short sale -- for $695,000.

I discussed some of the shenanigans that took place when it first came (back) on the market in October in this post, "Hmm . . . I Wonder Where That Lockbox Key Went??"

"Always be . . . Selling"

Lockbox Combo as Marketing Tool

After doing a couple thousand showings (and opening that many lockboxes), it's rare that I run into something unusual -- at least that doesn't involve a foreclosure.

But up until today, I can't say that I've ever opened a lockbox where the three letter combination was part of the listing agent's marketing: "Wow!" (no punctuation or exclamation marks).

Fortunately, it was -- "wow," that is (otherwise, it would have begged the unfortunate alternative, "Bow-wow." Sorry).

Realtor Haiku

This could be a trend with legs.

Other suitable lockbox adjectives, depending on the property: "Big," "Hot," and "Hip."

P.S.: Probably the worst last name I can think of for a Realtor these days is "Short" -- because every home they list would, by definition, be a "possible Short sale" (sorry, again).