Monday, January 19, 2015
Be as Sly as a Fox when Buying your Next MplsStPaul Home
Como Park Zoo has always been one of our favorite destinations on a weekend afternoon, even on a snowy winter day. With big flakes falling we were graced by the presence of this white fox, which often hides in his foxhole instead of greeting zoo visitors. Smart little guy that he is, he embraces the snowy winter weather because he can enjoy a bit of solitude rather than the loud noisy throngs of humans that are usually just beyond his fencing.
See there are some things Minnesotans don’t like to do in the winter…especially in the snowy months of January and February. Moving to a new home tops that list.
No it is not fun to move furniture when there is ice on the sidewalks. Going to showings involves carefully removing boots to avoid tracking snow into the homes you view. Driving from listing to listing in blizzard like weather can be treacherous. But like the fox in the solitude of the often busy zoo, it can be very smart to consider purchasing a home in the dead of winter.
Right now, interest rates are low. There are fewer buyers in the market for higher priced homes but many first time buyers for starter homes (but more are in the process of getting qualified for the spring housing rush). Home owners who want to sell in the spring are just starting the process of getting their homes ready to sell.
If you are a move-up buyer who currently owns a home and wants to move up to a larger property, this is an especially smart time to speed up your time frame. There are always first time buyers in the market looking for starter homes. With year-round demand for a smaller, lower priced homes, a savvy move-up home buyer could have their starter home or townhome listed and sold quickly and at a higher price in the winter than if they wait until May. They are often able to negotiate on that larger home more effectively as they can avoid dealing with the contingency of selling their current home.
Often sellers who list in the subzero temps of winter get more for their properties than when the spring market hits. Yes, there are more buyers in the market in May when the weather is warm, but there is more home inventory too. This actually causes less demand because buyers have a greater selection of properties. However, higher priced and newly constructed homes that that move up buyers are considering, do not seem to be affected as drastically by this winter pricing bubble. It presents an unique opportunity to get more for your current home without paying more for the home you plan to buy.
Looking for more ways to be a SMART Buyer? Let me email you my Buyer’s Success Guide
Thinking of selling in 2015? Let me be your professional guide. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of Boardman Realty, a call or visit my website for a FREE Home Value Report. 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.
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