Tuesday, March 21, 2017

What Anoka County Homesellers NEED to Know about Septic Systems


Are you planning to sell your Anoka County acreage home this spring? If you live on acreage and are not in a community with city sewer, you have a private sewer system to get rid of sewage. Homeowners with septic systems are required to complete an additional disclosure about the condition and use of the system. Some Anoka County communities require a compliance test for private sewer systems. If you do not understand these requirements, be certain the REALTOR® you choose, does.

Surprisingly, not all Minnesota real estate agents are familiar with septic systems and consequently not able to educate their sellers on how to properly complete the disclosures that are required to sell a home with a private sewer.  A lack of this knowledge can be costly to a seller and create time consuming delays in the sales process. I have lived in a community where private wells and sewers are the norm. This allowed me the opportunity to work with acreage homes on a daily basis.  I put my private well and septic knowledge to good use when assisting Anoka County sellers and buyers which can reduce headaches and surprises down the road in the sales process.

Not all communities in Anoka County have point of sale inspection requirements. For example, Columbus requires a compliance test on all septic systems prior to sale while Ham Lake does not. East Bethel only requires lake shore homes to have point of sale compliance tests. Some communities allow any licensed inspector to do the test while other cities require their own inspectors to perform the inspection. This means homeowners (or their agent) must contact city hall to find out what the specific rules are regarding compliance testing on the septic.

Even if a property is located in a community without a point of sale requirement, it can be advantageous for a seller to consider having the test done prior to listing. Why? Because most buyers will make offers contingent on the inspection of the septic system.  If a seller has pre-inspected the system to ascertain it is in compliance, this information can be provided to potential buyers thus avoiding an additional contingency being attached to the offer.

In the event the system is found to be non-compliant, it might be best to update the system prior to the closing. If non-compliance is determined prior to listing, the seller might be able to list a bit higher due to the brand new septic system. If the homeowner waits until the buyer requests the test, the buyer will have agreed to the price. Most buyers do not want to pay more than they agreed to pay, even if the seller must pay thousands for a new septic. The buyers expected that the system was in good working order when they placed their offer and see no additional benefit this late in the negotiations. But if a seller pre-inspects and it is determined an upgrade is required, the home can often be marketed at a higher price point due to the new private sewage system.  

Have more questions about your selling your Anoka County home? 

Ask Me! I Can Help!

READY to Make YOUR Move? 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 Buyer Success Guide or 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.

Copyright 2017 terieckholm.com

Monday, March 20, 2017

Snapshot of Home Sales Statistics in Stillwater, MN January/February 2017





All real estate is locale and that is very evident in the 2017 Stillwater housing market. In the eastern Washington County community of Stillwater, MN there is an abundance of housing options available. This is quite a contrast to many parts of the metro where there are few homes available for sale. New listings are up a whopping 70% compared to January/February 2016. And the supply of inventory is also up considerably. The over 3 month supply of home is up nearly 39%.  The average sales price of a home sold is also up a bit, coming in at $312,963 compared to $295,331 in early 2016. Homes are currently bringing in an average price per square foot of $137 which is down quite a bit from the $147/sq ft that homes in Stillwater commanding last year at this time. Like most other north and east metro suburbs, sellers are getting roughly 95% of their asking price; this statistic is also down a bit from 2016 but not significantly. However, the average time on the market to sell a home did drop dramatically from 136 to 118 days on the market in a year to year comparison.


 
 


Many of these statistics in the Stillwater market are skewed by the new construction boom. This does drive up the average price as new homes tend to cost more per square foot than existing construction. New homes time on the market can also skew the time on the market. Many new homes are not listed by the builder until under contract so will show up as sold with zero or one day market time. In a community where 30-50% of the homes sold are new construction, this has a dramatic effect on the time on the market.

For Stillwater home sellers, it is important to use these numbers as a guideline but realize it might take a bit longer to sell your home than these averages. Pricing must be on point when selling in an area where you compete with new construction.

Stillwater home buyers might have more negotiating advantages than in other parts of the Twin Cities metro due to the higher amount of housing inventory in this area. However, many of the new homes being constructed are at the higher end of the market. Homes under $200K are still very few and far between so will often sell quickly, even if the statistics show there is considerable homes for sale.


Featured Listing in Millbrook of Stillwater:
  3072 Lowell Court 
5BR/4BA/3 Car on South Twin Lake

Need more info on buying or selling a Stillwater home?

 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 Buyer Success Guide or 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.

Copyright 2017 terieckholm.com