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Home Selling in Minnetonka : Real Estate Advice

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  • Local Info3
  • Home Buying13
  • Home Selling5
  • Market Conditions4

Activity 5
Tue Jun 13, 2017
Jori Nunes answered:
Your contract is legally binding, I suggest people including agents who commented read it. If a Brokerage is doing their job and spent time and funds on a listing, there's still a contract until it expires unless the Broker agrees to get go of the client. For me, I have spent hours staging and marketing, ordering custom riders and signs and if I have offers then the client decides to cancel, I will happily remove my sign (so they don't damage it) and place the MLS status as Temp off Market until it expires or my fee is paid. There's too many people who don't like an agent but use them for all their hard work and experience then listen to someone less experienced and think they are all of a sudden smarter than an attorney. Read your contracts and contact an attorney. Agents, do not give legal advice, that is illegal unless your licensed to do so. ... more
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Mon Aug 22, 2016
Kathy Burgreen answered:
I would sue the agent for the lousy paint job & costs to repair it. Then please write negative reviews online so future sellers won't suffer the same hideous job this agent did to you. Post negative reviews on Zillow, Trulia & ... more
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Wed Jan 28, 2015
Scott Godzyk answered:
It will depend what your listing agreement states. Check your contract and as with any contract, if you do not understand it check with a alwyer to review it
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Sun Aug 4, 2013
Julio answered:
It seems to me the market is slow right now and slowing as we speak, since everybody expects that the Federal Reserve will taper the current 85 billion dollars a month bond purchases that it is doing by creating money out of thin air, that will inevitable exacerbate the increase in interest rates for a 10 year Treasury bill, interest that the mortgages usually track. That will make mortgages even more expensive than they are today. The last increases in interest for a 30 yr fixed loan has been over 100 basis points, that has priced down a lot of people that can afford less house than before, so if your house is priced in the lower portion it may have benefited, but if it was above the median, there will be fewer buyers. The expectation is that any interest rate increase will create a larger discount rate to discount the future cash flows that the property could generate and that is its intrinsic value, since there would be a better investment to make other than buying, it will also make more attractive financially speaking to rent than to buy. At the same time the % of young adults that live at home is at a 45 years high and growing, and as analysts point out, it is well below the upper bound observed in other societies that have undergone this transformation ahead of the USA, like Italy where it is 61%.The main reason is the unaffordabillity of housing to start a family. The trend in those societies is for multigenerational housing where each generation lives in a different floor of the house. Something our housing is not prepared for in the USA. In summary, with rates going up and people being priced down with little hope of interest rates going further down (discount rates by the Fed at near zero and monetization at 85 Billion $ per month ( ), and household formation at a 45 year low ( and going down), I see little room for prices to go anywhere but down.
Of course that is under the assumption that will not experience a hyperinflationary event that destabilizes the economy, if that were to happen, then all bets are off. So watch out, since you are not a financier, do not sell anything real state without having a firm contract in place to buy something else. it has happened in other countries where people procrastinated put the money on a CD before buying another home, or speculated prices will go further down and a black swan event happened and after a few months they could buy anythiing with the money they had put away.
Very long explanation, but since finishing my MBA I finally understand how prices of real state work and feel a lot of empathy for your question. I now know that it is the wrong question, since the time you are asking for looks in the mirror at past events and that doesn't matter at all, you need to look at future events and the behavior of interest rates is what is going to determine the value of your home, of course assuming all other factors remain equal, but I know that you know all of those critical real state facts.
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Mon Jun 6, 2011
Susan Hofflander answered:
And, I should have linked you to this website that will allow YOU to slice and dice the numbers what ever way you want in order to find the info you're looking for. ... more
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