Pat's Blog

Seeking Stability  The 2007 statistics for the Twin Cities real estate market were released at a press conference by the local real estate associations on January 16th, 2008.  The highlights were as follows: Listings processed, 105,004, down 2.8%Sales, 40,055, down 16.4%Inventory of homes for sal...

I just made an offer on a property today.  After selling my house this summer, I'm trying to find a new home.  This is my fifth attempt to buy something.  That's right; I've made five offers on five different properties.  I lost the previous four in multiple offer situations.  Yea, I made low off...

We are often asked if it's time to buy yet.  Has the market hit bottom or is it still falling?  The simple answer is: If you are ready to buy, now is a good time.  "Maybe you're right Pat, but isn't that what you Realtors always say?"  Perhaps, but then we're usually right.  "Do I detect a hint o...

I learned over the weekend that a friend, Vera Peck, is among the missing in the aftermath of the 35W bridge collapse.  Vera was with her 20 year old son, Richard Chit, who has Down's syndrome. Vera is a wonderful person, sweet and kind, respectful and respected.  You just feel good in her presen...

We all know that to sell our listings, our marketing must reach the serious buyers (those that may buy in the near future at a decent price).  But beyond putting the listing on the MLS, is any additional marketing beneficial? The vast majority of serious buyers are working with Realtors.  The pri...

Owning your home is the American Dream.  Nearly everyone shares the dream, and wants a piece of land and a home they can call their own.  And it's not just us citizens.  Since the birth of this nation and before, people have come from all over the world to make this their home.  And they keep com...

It may seem strange during this time when all we hear is "Buyers market" to call real estate the Greatest Investment.  But it has been and will continue to be the best tool used by most Americans to build wealth.  There are two primary reasons why we rate this as the greatest investment. Home and...

If you are in a battle but don't realize it or refuse to acknowledge it, you are sure to lose.  Underestimating your competition can prove fatal.  For years, real estate commissions have been under attack. Historically, FSBO's and discount brokers have been a small share of the market, while full...

The National Association of Realtors reported today that sales of existing single family homes dropped to an adjusted annual rate of 5.99 million in May, the slowest pace since June 2003.  Pardon me, but I thought 2003 was a pretty good year for real estate sales.  The median sale price was down ...

It's time to discuss what we Realtors do for our clients.  Why do we get paid as much as we do?  Why do our clients keep coming back to us, and send us referrals?  Answers to these questions and more after a commercial break from our sponsor.   It's not really a commercial break, just a game.  Ca...