Real Estate Snippets

Hazards of the Trade

We looked high.  We looked low.  It wasn't there.  Of course, the wooden bench it had been attached to wasn't there either!  The tenant had moved from my Saint Paul duplex listing and with the tenant went the bench.  With the bench went my $90 lockbox!  Do you think I can write that off as a loss on my taxes?

Spring Is Coming

The days are getting longer and we've finally had our first day above freezing since who can remember when!  The sun has been shining in St. Paul and it feels like a harbinger of good things to come.  When the mounted police start clopping by the neighborhood, you know summer will soon follow.

 

Historically real estate sales begin to increase in the Twin Cities after the Super Bowl.  Hopefully, this year will follow that same pattern as the snow melts and people begin to come out of their winter cocoons again.

Protesters at the RNC

At the supper hour, my walk encompassed the area between Interstate 94, the Minnesota Capitol building, and my house.  Normally these grounds are well groomed and a perfect place to walk and meditate, to unwind from a busy day.  There are memorials, plantings, splendid St. Paul views and benches for contemplation. 

Being oblivious to the protest schedule surrounding the RNC was a mistake.  My pleasant little stroll soon intersected with a bit of unpleasantness.   Helicopter fly overs were driving me nuts.  The longer my walk, the crazier it got.

Police and military personnel were everywhere dressed in riot gear and gas masks.  Media vans were parked by the Capitol building, but there were no protesters visible.  A normal person pays attention to the clues and goes home:  Hueys and news chopper flying overhead creating a din, riot gear, military, news media, small groups with placards face down in the grass, etc.  I, on the other hand, continued my walk into oblivion hoping to get some good pictures of the St. Paul Cathedral.

The police line was intimidating, yet some protesters approached the human barricade and invaded the officers' personal space to stare hatefully.  Another of the crowd loitering behind the protesters was so high he was waiting to be arrested.  He copied his colleague but added a leering smile to his stare.  Only professionalism and training prevented the police from being goaded on that way.

Being sandwiched between 20 some police horses (they're big) and the line of riot gear clad police was unnerving.  I wanted to step behind the police (away from the crazy protesters) but was told I could not.   Even the police bicycle brigade acted as barriers.  The road to the Cathedral was blocked with bulldozers.  All this for a few protesters, most of whom were shouting obscenities and inflammatory words.  The few that I made eye contact with seemed filled with hate. 

The protesters appeared to purposely taunt the cops to step out of line.  The police department deserves a lot of credit . . .  gas masks, batons drawn, tranquilizer or tear gas rifles, mounted police, face shields, hard hats.  Not a pretty site, yet the police performed their duties admirably.  One couldn't pay me enough to stand in any one of their places.

And the protesters.  It was reminiscent of the days of Lennon and Yoko Ono with the long skirts, beads, stringy greasy hair, vegan build, piercings, dreadlocks, filthy jeans, professor types with ill fitting outdated suit jackets covering denim shirts.  No, I have no sympathy for them.  Their cause might be just (I have no idea what their cause was!), but their presentation sucked!

Still 5 hours later the choppers are soaring above.  Thawack, thawack, thawack is the sound of the Hueys.  The little choppers just hum, but the Hueys shake the foundation of the neighborhood. 

Will I be glad when the RNC goes home?  Yea, you betcha!
 

The Elephant Invasion

Normally St. Paul is a ghost town on a Sunday afternoon.  Residents and bicyclists leisurely stroll or ride the streets, but businesses are closed except for a limited few.  This Sunday was different.  It was quite apparent an invasion was coming . . . or maybe it was an elephant circus!  There were military people everywhere, police from all over the state and maybe beyond, unmarked police cars spit shined for the occasion, closed roads with check points for entrance, lanyards with multiple security tags attached, heavily laden back packs, and a few curiosity seekers checking to see how much the invasion had changed our town! 

Sheepishly I admit to being one of the latter.  For a week the heavy military helicopters have circled the air space above my home in their regular route around the Capitol.  Thawonk, thawonk, thawonk is hard to miss when it's right overhead.  The large green choppers were the most unnerving as they sported a full arsenal of weapons.  Day and night they have toured our neighborhood keeping us ever aware that the Republicans are coming!  Biking downtown seemed the sensible thing to do with the number of meters sporting red "No Parking" caps these days although we discovered the bikes were not welcome in some areas that were pedestrian only areas.

All around the Xcel Center check points were operational.  Downtown was alive and full of energy.  Candyland had already been discovered by visitors.  Gift shops were open.  Elephants were all around. Welcome signs and flags were everywhere but not nearly as prolific as the number of security staff.  I wasn't sure if they thought they were incognito or not, but a hearing aid attached to a wire down the collar of the shirt under an FBI type suit is a dead give away.  Only one security guard asked that I not take pictures and they weren't even near the Xcel Center!

It's nearly midnight and the steady hum of the choppers, the additional sirens, and the lighted Capitol all remind me that there's a party in town, the Republican Party!

35W Bridge Collapse

EARLY STAGES OF 35W BRIDGE RECONSTRUCTION

Just one year ago today the unthinkable happened in Minneapolis.  The 35W bridge over the Mississippi River collapsed taking many cars to the depths of the river with it.  Disbelief showed on the faces of local residents.  Emergency call operators found the messages they were hearing hard to believe.  Lives were forever changed, some through loss, and others through survival. 

Minnesotans showed their tenacity in this tragedy.  There was no looting.  There was no pillaging.  Complete strangers risked their lives to help those who were trapped, some at the risk of their own lives.  People from all walks of life worked side by side, the attorneys in training beside the blue collar construction guys.  There was a goal:  save as many as possible by doing whatever it took to get the job done.  They all pitched together showing problem solving skills, cooperation, heroism, and Minnesota's ability to bounce back.

The tragedy was, and is, real, but I am proud of the way Minnesotans rallied to the cause and started the road to recovery on the day the road collapsed.

No More Pushy Marketing

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What Are They Thinking?

Occasionally I'll encounter behavior in a real estate agent that startles me.  The vast majority of agents are hard working professionals, but every so often something slips through that makes me ask, "What are they thinking!?"

1. A marketing campaign including billboards featuring the agent in a skimpy bikini.  No, I am NOT jealous.  It's beyond my comprehension why anyone would solicit potential crazies in a profession that is already known for its dangers (i.e., meeting strangers in vacant houses for a showing).
2. Allowing the cell phone voice mail box to become full and letting it stay that way for a period of time.  The unspoken message this gives me is that the agent is not very well organized or doesn't take their job seriously.
3. Setting up music with suggestive lyrics for the caller to hear instead of the phone ringing.  Refer to number 1 above.  Sometimes I wonder if the agent has previewed their music selection!
4. Instead of sitting at the closing table with their clients, they spend the majority of the closing time in the hall on the phone dealing with other clients or transactions.  No agent is too busy to attend the business at hand and when the closing is happening, that is the business at hand!
5. Publishing awful photos in the MLS.  Some houses are not photogenic, but blurry photos, reflections of the agent in the mirror, photos taken through dirty or rainy windshields, etc., are not in the best interest of the seller client!  Athol Kay, an agent in Connecticut, has a whole blog full of bad MLS photos submitted from around the nation!

Happy July 4th

Cancelled Listings

My mind is off on a tangent.  Maybe it's an uprising.   Maybe the frustration level has reached its breaking point.  Maybe the straw on the proverbial camel's back has been placed and the camel's back is broken? Maybe it's not really a trend at all, just a fluke.

Regardless of whether it's a trend or fluke, it's unusual to request showings and get a response saying the agent is cancelling the listing.  One agent's response to me regarding the cancellation was that the lender/owner of the property has not given a response to her 18 phone calls and 3 offers that were submitted for lender approval three months ago.  She's unwilling to work with someone who is unwilling to work with her in return!  (I think I agree with that one!).  Two other bank owned listings in my tour of 10 were also canceled by the agent.  It's hard not to combine these cancellations with comments over the water cooler:  "That lender is so frustrating.  They still haven't made a decision and the offers have been in for 4 months."  "Don't the mortgage companies know this is a good offer?  What are they waiting for?"  "I'm never going to list a short sale again."  "The lender got an appraisal for $190,000 on this house and it will be lucky to sell for $125!", etc.

Is it possible that these St. Paul real estate agents have had enough of the stalling?  Is it possible the amount of work put into a short sale is being weighed against the reduced commission the lender requires?  Is it possible they're following through on their threats never to list a short sale again?  The lenders , and buyers, need not worry because there are always agents willing to take up the slack.  The short sales will continue to be listed for sale.  From my perspective, though, my mind can't help but wonder why so many cancellations from one small tour.

Busy Real Estate Business

It's been one of those weeks.  My desk isn't quite as bad as the picture, but my brain probably is.  I'm thankful for the business.   Two years ago, there wasn't any real estate business.  Work is good, but this week was piled with it.  The problem is compounded by the week being a day short.

So what did I accomplish this week?  Nothing but what is normal for every St. Paul real estate agent:

1. Create three comparable market analyses.
2. Take pictures of two properties for pre-listing information
3. Process a new listing and get it on the market.  Install lock box.  Make copies of seller's disclosure.  Create brochure.  Order sign install.  Set up listing with appointment scheduling company.
4. Attend a buyer's inspection.
5. Negotiate a buyer's offer.
6. Create 3 virtual tours with photos
7. Follow-up with new prospects explaining the home buying process.
8. Follow-up with client on property that closed 2 weeks ago.
9. Tenant management at my rental property including 2 middle of the night calls for overflowed toilet.
10. Process paperwork to convey copies to title company, lender, and my office.
11. Deliver copies of purchase agreement and earnest money check to listing company.
12. Attend a house warming for clients who purchased their home in February.
13. Set up auto e-mail searches for new home buyers.
14. Attempt to pin down a short sale lender so they accept my buyer's offer.
15. Order a truth in housing for another listing.
16. Order a city inspection for a rehab project.
17. Attend office technology training.
18. Write blog posts.
19. Dig in the garden
20. Rub the dog's belly.
21. Rescue my Webkinz from dying of neglect!

Maybe there's a reason why I'm so tired tonight!