The markets continue their panicked spasms, as the financial world comes to grips with a strange, unforeseen conclusion: maybe loaning a million dollars to guys who show up for the mortgage closing wearing a barrel and cardboard shoes wasn’t the smartest move. We’re a few hours away from some high official stating that “the fundamentals are sound,” which usually makes everyone sell everything and stuff money under the mattress. I’m not particularly worried. Then again, I’m not trying to sell my house.
Are you? The metro market is still sluggish, but as this article notes prices are steady, and new listings are down a bit. If you’re trying to sell your house . . .
. . . Sorry, I spaced out for an hour. It’s Lazy Day, remember? It’s a hot August Friday, and frankly, I couldn’t care less about the housing market, but having brought it up, I‘ll soldier on to the end of the post. My point: many houses aren’t selling because they’re dumps. To me, the interesting real estate nightmare stories aren’t about houses you’re trying to sell, but houses other people think you’ll buy. I still remember the Blue House: every wall in every from had been painted the same shade of Dresden China blue. Every piece of woodwork. Carpets? Blue. Kitchen tile? Blue. Bathroom fixtures? Blue. It seemed like a lot of blue. I expected that the owner of the place was around somewhere, dressed in blue, leaning against the blue drapes, motionless. Watching. I almost made an offer, just to see if he'd appear from a chair or rise from the rug.
Any home-buyer horror stories you’d care to relate as the afternoon enters its shankhood? Go right ahead.


Land Use Restrictions
If the market in Minneapolis is steady, I suspect that you don't have the sort of steroidal land-use restrictions that bid up prices in other parts of the country in the first place.