Monday, December 31st, 2012

By Brendon Desimone

At the end of every December, people make all kinds of resolutions for the coming year. Typically, these are things they want to improve about themselves, ways to make their day-to-day personal or work life better, or ideas to put them on track for a change. Many times these surface as a result of mistakes made in the past 12 months.

When it comes to real estate, resolutions don’t necessarily apply as it’s unlikely that you do a real estate transaction each year. Furthermore, you can’t actually resolve to buy your neighbor’s house or sell your $350,000 home for $1 million. Well, you could, but you’d probably be setting yourself up for disappointment right from the start.

Some things are simply out of a would-be buyer or seller‘s control. But, as a would-be buyer or seller, you can learn from and make resolutions based on those who have gone before you. There exists a former buyer who, if he could, would resolve to have done more legwork before buying. Conversely, there’s a current seller who resolves to take the next under-asking-price offer from a buyer more seriously.

Whether you plan to buy or sell, there are some real estate resolutions that buyers and sellers can — and should — make. Here are five to get you started.

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Wednesday, December 26th, 2012


As we celebrate with family and friends this holiday season, we can take comfort in the fact that housing markets across the country are reaching their own holiday milestones. Even though the trend is our friend, recovery can often feel piecemeal: fewer foreclosures here, improved absorption rates there and lower days on market over there. But, overall, we’ve struck a positive stride, and momentum has a way of accumulating. Here’s a peek at the week’s housing market data.

In the Twin Cities region, for the week ending December 15:

  • New Listings decreased 3.6% to 773
  • Pending Sales increased 10.1% to 762
  • Inventory decreased 28.9% to 13,630

For the month of November:

  • Median Sales Price increased 16.2% to $172,000
  • Days on Market decreased 26.4% to 103
  • Percent of Original List Price Received increased 3.6% to 94.2%
  • Months Supply of Inventory decreased 39.5% to 3.4

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |
Wednesday, December 26th, 2012

By Sheree R Curry

We’ve all seen homes for sale that linger on the market until the owners give up, only to list again. That can be a great marketing strategy, if you make changes.

When a home for sale sits on the market for 90 days or more, it’s time to take a closer look at the pricing, marketing, condition or any combination thereof. Some agents say that you shouldn’t even wait that long to reposition.

“If a seller hasn’t had buyers walk through their doors in 30 to 45 days, they need to lower their list price,” says Pat Lashinsky, CEO of ZipRealty, a home listing service. “If the home hasn’t sold in six months, the asking price is off and the condition of the home may not be in the place it needs to be to attract buyers, and it’s time to take it off the market.”

Re-listing the home is a way that sellers can say goodbye to stale and hello to home sale. Here are six ways to land a home sale, whether you’re a new or repeat listing:
1. Drop the price.

In its first days on the market, a five-bedroom split-entry rambler at 1900 Cape Cod Place in Minnetonka, Minn. was listed for $429,900 and a few weeks later dropped to $409,900.

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Tuesday, December 25th, 2012

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Andy Fazendin (2012 President-Elect, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Posted in Monthly Skinny Video |
Monday, December 17th, 2012

By Trulia | Published: Oct 14, 2009

Hey – isn’t this the worst real estate downturn since the Great Depression? If that’s true how are some sellers still able to successfully beat the odds and sell for top dollar despite the market conditions? The answer is that they employ time tested and market approved techniques and strategies that give them an all important edge over their competition.

To model the success of these savvy homeowners, let’s take a look at the top 10 tips to sell your home for top dollar:

1. Price your home aggressively

Setting the right price for your home is the single most important decision you will make when you decide to sell. Go too high and you risk turning off every buyer in the marketplace, go too low and you leave money on the table. One simple but powerful technique for pricing your home aggressively is to spend the day looking at your competitors’ homes. By doing so you will be seeing the world through the buyers’ eyes. Be tough and honest with yourself. Compared to the competition what would be a price that would position your home as the best value proposition for buyers in your marketplace?

2. Use price points

Buyers don’t walk into an agent’s office and announce that they would like to see homes priced at a specific price like $227,900 dollars. Instead they ask to see homes between price ranges that are separated by five to ten thousand dollar increments. Because of this, consider setting your price near one of these natural price points. For instance a price $229,900 would probably net you exactly the same number of buyer inquiries as a price of $227,900, but moving your home down to $224,900 (the next price point down) would widen your potential buyer pool.

Full Article Here

 

 

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