Barker and Hedges Real Estate Blog

What $175,000 Buys in Victory Neighborhood of Minneapolis

Here is MLS # 4369047. This charming Craftsman home is located at 4007 Russell Avenue N in Minneapolis, Minnesota.

 

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It has 3 bedrooms, 2 bathrooms, and 1,355-square-feet of space. The house is in the Victory Neighborhood in  the Camden Community of Minneapolis.

 

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Built in 1925, this home features hardwood floors throughout most of the rooms, including the dining room, living room, and most of the bedrooms. Two fireplaces can be found in the living room.

 

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Its features also include an updated eat-in kitchen, with new cabinets and stainless steel appliances. This home is a must see! It can be yours for $175,000.

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What You Should Know About "Pocket" Real Estate Listings

private_real_estate_listing_pocket_listing_sleeve_listing_640MPR recently did a story about the proliferation of private sales in the Twin Cities real estate market. I thought that I would take some time to talk about what a private real estate sale is and what its pros and cons are.

A private real estate sale, otherwise known as a “sleeve” listing or a “pocket” listing, is a property for which a broker holds a signed listing agreement from the seller, but it is never actually advertised on a multiple listing system (MLS). Instead of putting the house on the local MLS, which exposes it to home buyers and buyer agents, the real estate agent restricts access to information about the house, hoping for a quick sale.

Pocket listings are surging in the local Twin Cities real estate market, and in many other places in the U.S., because of incredibly low inventories of homes for sale, along with strong buyer demand and low mortgage interest rates. In competitive markets where real estate listings are scarce, private sales or pocket listings are a way to have utter control over the sale. The practice of marketing properties prior to listing them on the MLS is legal as long as agents explain the trade-offs sellers are making.

There are benefits for the seller....

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