Straight Talk About Minneapolis Duplex Values

Let me be blunt.

The girlfriend who dumped you in college isn’t coming back. And your Minneapolis duplex is not worth what you paid for it in 2000-2006.

She doesn’t miss you as much as you imagine. And your duplex is not worth what you paid for it any other year plus the costs of the repairs and improvements you’ve made in the years since.

Odds are she’s gained weight and still wearing grunge wear anyway.

And odds are your duplex won’t be worth what you paid for it way back when any time in the near future either.

The duplex market, by all expert accounts, is a long way from getting back to where it was. Some economists think it may be as long as a decade.

Your duplex is worth what someone is willing to pay for it.

That value is determined by how much rent it’s generating, what expenses the owner incurs, location, condition, and what comparable duplexes in the area have sold for.

That’s true today, and it will be tomorrow, next month, next year, and 20 years from now.

If you’re a duplex owner thinking of selling, the question you have to ask yourself is this; what will my life be like for the next decade if I wait for the market to possibly rebound?

If you don’t like your answer, call me and I’ll help you determine whether there’s a way out.

And if you don’t mind owning your duplex for the long haul, remember, the best way to keep your options open (and property value up) is to keep your rents near market value, your property in excellent condition, and your expenses down.

That way, even if life forces you to change your mind five years from now, you stand the best possible chance of getting the highest value the market will bear for your duplex.

As for the dating problem, well there’s always Match.com.