I have no ability when it comes to basketball but as a
REALTOR® with well over a decade of experience in the Twin Cities
north and east metro, I do know a housing rebound when I see it. Since last
fall there has significant activity in the Minneapolis/St. Paul housing market.
In the north and east metro, I have witnessed the market turn. The extreme low
interest rates have brought out the first time buyers who have literally bought
up almost all the listed houses. This is good news…unless you are a first time
buyer.
Once again, there are multiple offers on home. In one
situation I was in this past fall, there were 12 offers by the time the highest
& best deadline arrived. Not familiar with the term highest & best?
When there are multiple offers on a home, the seller’s agent notify all
interested buyers to submit their highest and best offer so the seller can
choose which one to work with. In this situation the seller’s agent said she
had another dozen buyer’s agents contact her AFTER the deadline. More than 2
DOZEN interested parties on one home! This is driving prices up again.
Consider the recent local market headlines and articles:
- Twin Cities real estate recovery firms up 5 years after bubble burst
- Twin Cities Realtors detail a recovering 2012 housing market
The real estate
market has seen a rebound this market and it is good news for any seller that
has been waiting for the right moment to sell.
Before the holidays, I was asked by a number of clients what they should do to do to
get their home ready for selling in the spring. My advice was, “If you are
ready now, go for it! Don’t wait until spring!” There is no reason to wait out the winter. Buyers are looking
now and writing offers now as there are very few good homes on the market. The clients who took my advice saw their homes sell
quickly…in many cases in just days.
Tips for Sellers in this Rebound Market:
- Get your home picture-perfect ready and on the market as soon as possible. Don’t wait as there will be more sellers competing in the spring.
- Stage your home. It will stand out compared to foreclosures.
- Price it right from the start. Just because pricing is up, doesn’t mean the sky is the limit on pricing. Buyers are too savvy…and so are appraisers! Trust your REALTOR® to help you find a realistic listing price.
Tips for Buyers in this Rebound Market:
- Work with a REALTOR® from the start. I am able to find homes for my buyer clients and get them out to see them within hours of hitting the market.
- Get Pre-approved for a home loan. Sellers will not consider an offer without a pre-approval letter or proof of funds if it is a cash offer.
- Educate yourself on the market and work with an agent that knows the area so you won’t have to hesitate to write an offer. Waiting a few days to think about it may not work in this fast paced market.
Don't Wait Until Spring! Call for Expert Real Estate Advice NOW! If you are
buying, selling or relocating to Minnesota and need help from a
professional REALTOR®, give me, Teri Eckholm of RE/MAX Specialists, a
call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. I specialize in
acreage and lakeshore properties in the north and east Twin Cities
metro area including Ham Lake, Lino Lakes and all communities in the
Forest Lake School District! Serving Anoka, Chisago, Ramsey and
Washington Counties in Minnesota.
acreage and lakeshore properties in the north and east Twin Cities
metro area including Ham Lake, Lino Lakes and all communities in the
Forest Lake School District! Serving Anoka, Chisago, Ramsey and
Washington Counties in Minnesota.
Buying a Home? Check out my HOME BUYER'S BLOG!
Copyright 2013 Teri Eckholm http://www.terieckholm.com/
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