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Helpful Hints on Home Descriptions

Properly Marketing a Home For Sale

Beautiful Flower Beds

Most real estate agents are not good writers, so it should come as no surprise that when you read through real estate listings the descriptions are lack luster. Some agents just don’t care, some just don’t know how to write well, and some agents are so “old school” that they know no other way. Sadly, home owners are the ones hurt because poorly written descriptions fail to attract buyers, so it is extremely important to choose an agent that writes well and takes the time to create a story about your home.

I continualy write on this blog about the importance of good listing photos and how they are the first things buyers look at when searching for a luxury home in the Twin Cities. Photos are the window into the soul of the home, but to make them even better, you must have a description that tells a buyer what they are looking at.

What to Do

  • Accurately describe the home. Calling it the “Best” home in the neighborhood might not be a bad thing, but you better make sure you can back it up with photos and reasons on WHY it is the “Best” home.
  • Use good adjectives that attract buyers like “Beautiful, Lovingly Maintained, Great Landscaping, Spacious”.
  • Include longer descriptions of photos that highlight great features of your home.

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What Not to Do

  • Don’t use negative adjectives to describe your home. Words like “As-Is, Motivated Seller, Small, Needs TLC, Good Value” might not sound all that negative, but they can be a “red flag” to buyers who might think the home is not worth seeing, or needs too much work.
  • Don’t put photos of your listing on the MLS without descriptions. Simple words like “living room” no longer cut it. Buyers want to know exactly what they are looking at and the best way to attract them to your home is to provide ample descriptions.
  • Don’t be lazy. Check up on your Realtor and make sure they are giving your home the marketing it deserves!

(Of course if you pick the right agent from the beginning, you probably won’t have to do much. A great agent will make your listing shine!)

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Insuring the Million Dollar Home

Probably one of the last things a luxury buyer thinks about when shopping for a new home is how he is going to insure it and how much is it going to cost. One of the hardest things to figure out is WHO is going to insure it. Luxury homes are not insured by every insurance company out there, and most likely, buyers will have to choose from a small pool of companies.

For instance, Minneapolis and St. Paul have an extensive inventory of historic homes with many showcasing architectural elements that would cost a fortune to reproduce today. Sorry, but Allstate just won’t do.  Buyers and home owners can’t just pick any insurance company to cover these beautiful and rare items; therefore, the best way to protect your home is to choose an insurance company that has a specific policy covering old homes.  Placing a value on items can be tricky, so agents can come to your home and evaluate original stain glass windows, rare woodwork, imported tile, expensive wall coverings, stone carvings…you name it, they have the expertise to value your home’s special attributes.

The initial appraisal and inventory of your home is crucial. Agents will take photos and detailed notes of everything in your home, so that should a disaster strike, your home can be reconstructed as best as possible to its original state. Most of these special insurance companies will go above and beyond the policy to make sure your home is returned to you better than before, even updating your home to current code at no additional expense to the home owner.

 Some companies that you might look into for insuring your luxury home include:

  •  HUB International – can quote from the Top 5 upscale insurance companies
  • Fireman’s Fund
  • Chubb 
  • AIG/Chartis
  • ACE
  • PURE

Many of these companies offer increased coverage for Wine Collections, Jewelry, multiple properties, flood insurance, Kidnap and Ransom, Fine Art, etc.

Home Owners, you aren’t left out of this conversation either.

 Over the years, million dollar mansions are updated and improved, but many homeowners neglect to call up their insurer and inform them of the improvements, leaving their home undervalued. When disaster strikes, homeowners could find themselves in a tough place when they don’t get the correct dollar value to replace their home and personal items. It is suggested that homeowners update their policy every year to make sure they are fully covered.

And don’t let the declining real estate market, which might state the value of your home has decreased, affect the insured value of your home. Home values have little to do with how much it will cost to rebuild and replace everything lost, so don’t get caught in that trap.

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Water Always Adds $$ to a Home’s Value

Today I am in Austin, TX for a luxury home conference and had the opportunity to tour some beautiful homes currently for sale. While the Texas climate is completely different than Minnesota, I did find one thing that Austin and Minneapolis – St. Paul have in common… a river runs through them.

As most rivers do, they shape the future of any city. Without the Mississippi River, the Twin Cities as we know it might not exist –  lumber and flour barons would never have come to the region to make their fortunes. I am sure the same goes for Austin and the Colorado River (not the one you are thinking of, this one is all Texas).

So, it should be no surprise that some of the highest priced real estate involves water. In Austin, million dollar luxury homes sit on top of limestone bluffs over-looking various man-made reservoir lakes on the river. With sweeping views of the landscape, how could you not love gazing out at this every morning?

Austin Blufftop Panoramic Water View

Of course the really expensive homes must sit on the water. I am told by the agents here that waterfront homes double the price of the home, which is not too different than the Twin Cities. Homes on the Mississippi River, or any of our large lakes like Lake Minnetonka can result in millions of dollars more in a home’s price.  The home below had stone steps literally taking you down into the river (really cool!) not to mention a nice breeze coming off the water.

Austin Waterfront Luxury Home

Many times I find that not-so- luxury homes are still pretty expensive if they sit on the water. The current trend is to tear these houses down, and build a big luxury mansion in its spot. However the economy is slowing tear-downs in Minneapolis and the Metro area, with property owners rethinking the amount of money they want to sink into a large project.

Just remember, waterfront homes come with a heavy price tag so be prepared when its time to go shopping! Don’t suffer from sticker shock!

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Most Expensive Home on Summit Avenue

If you don’t know Summit Avenue, then you don’t know much about St. Paul. It is only the most prestigious street in the entire city, and some will go so far as to say in all the state of Minnesota. Summit Avenue is where all the old historic mansions are located, and is known to be one of the most best preserved historic districts in the nation, with its origins beginning in the 1850’s.

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St Paul Historic Italianate Home for Sale

What Can You Buy for $2.5 Million in the Twin Cities that’s Historic?

Ever want to know what an expensive home will cost you in the Twin Cities? Well if you are looking for a historic home and you have a couple of million dollars to spare, here are three great choices scattered across the Metro area.

St Paul Historic Italianate Home for SaleBuilt in the 1860’s, this Italianate Farmhouse in Saint Paul boasts 4000 square feet, four bedrooms, and two acres of land/gardens – all for $2.5 Million. Listed with Coldwell Banker Burnet. 

Cedarhurst Historic Mansion in Cottage GroveThe Cedarhurst Mansion in Cottage Grove will only cost you $2.5 Million, but you’ll get a historic home built in 1911, 10 acres of land, and over 12,000 square feet. Listed with Edina Realty.

Historic Frank Lloyd Wright Estate for Sale in Stillwater

For a simple $2.4 Million, you can own the Lovness Estate in Stillwater, designed by Frank Lloyd Wright and built by the home owners in 1957. Sitting on 20 acres, the home has two bedrooms, a separate cottage, and comes with original plans to build three more small cottages, all designed by Mr. Wright himself. Listed with Sky Sotheby’s Realty.

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Most Expensive House on Lake Minnetonka

Lake Minnetonka has its share of expensive luxury homes that are currently for sale, most of them being in the multi-million dollar range, and it always comes as no surprise that the most expensive home in the Twin Cities is located on the lake. Currently the top honor goes to a listing with Coldwell Banker Burnet in Orono that is priced at $11.5 Million. 

Most Expensive Lake Minnetonka Home for Sale

1655 Bohns Point Road, Orono

Located on the prestigious Bohns Point, the home features sweeping views of Lake Minnetonka on 3 acres of lakeshore. With over 9000 square feet, including a 1 bedroom/1 bath carriage house, the home has 7 total garage stalls. Make sure you can pay the taxes. They come in at a staggering $75,000 per year! 

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Luxury Home Master Bathrooms

Last Chance to View the Twin Cities Luxury Home Tour

If you forgot about the Minneapolis-St. Paul-Lake Minnetonka Luxury Home Tour, aka the Twin Cities, then you have one more weekend to get off the couch and out of the house to view some major architectural homes for sale. Half of the homes surround Lake Minnetonka, and the rest are mostly in Edina, Prior Lake, Credit River Township, so there should be no excuse that the homes are too spread out.

If you have been on the tour in the past few years, you might have already visited a few of the homes as they are repeats, but hey, sometimes it’s fun to keep dreaming. I have always like the home in Credit River Township, so it might be interesting to see it again, but I know I just have to visit the home on Palmer Pointe in Minnetrista.

Tickets cost $20 at Caribou Coffee, or $25 at the luxury homes, but if you only want to see one or two of them, you can always just go the $5 route for each single home. Let me know which homes you liked the best!

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Are Your Real Estate Photos Killing the Sale of Your Luxury Home?

It continually amazes me how home owners don’t realize the poor quality of photos that their real estate agent is using to market their Million dollar homes here in the Twin Cities. Just today, I have been going through luxury homes stretching from Stillwater to Lake Minnetonka, and probably 90% of the homes priced over $800,000 have agent taken photos that are out of focus, tilted, angled, poor lighting….you name it, these photos stink!

In case you wonder if they really make that big of a difference, well I have to tell you that they do. If a buyer is looking at purchasing a luxury home, they want to see the home showcased at its finest. This means that quality photos must be taken by a professional photographer, and edited in the best way to show the homes highlights. Hey, I consider myself a decent photographer, but I leave the high-tech photo business to the professionals when it comes to my luxury listings. This means I spend money to get the quality I expect and the quality my clients deserve.
After all, what are they paying me for? My job is to market their luxury home to a luxury audience. Agents that bring their point-and-shoot cameras into a million dollar home should be kicked out on the spot. They don’t know what they are doing, and the people who will suffer for it are their clients.
Want to know why your home has been languishing on the market for over a year? Over two years? Take a look at the photo below. It represents the only photo for a $1.5 Million listing in Minnetonka. The description in MLS sounds great, but there are no photos to back it up. Do you think a buyer would really want to set up an appointment for this type of listing?
Or how about this home below that started out at $2.4 Million in Eden Prairie? It is has been on the market for a while, and now is reduced $500,000. Could it be that the really poor photos, and there are more, are killing any potential sale for this home? I certainly think so.

As a home owner looking to sell, you really need to question the agent you use and how they are going to professionally market your luxury home. Luxury home specialists know that money has to be spent on quality photography and marketing pieces to attract buyers. Ask your agent for marketing examples and past experience in the luxury home market before you sign a year long listing because if you don’t, the quality you could be getting could resemble the photos above.

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