The Art of the LOWBALL offer on Real Estate—How Low is it Safe for a Home Buyer to Go?

So you have scoured the internet for the perfect home and you found it! But it is tens of thousands overpriced compared to similar homes. Is there an art to submitting a lowball offer in this changed real estate market? Where do you start? 10% less? 20% less? 50% less? And is it the percentage less than the original list price or the current asking price?

Welcome to the reality of the real estate market today! There is no one-size-fits-all answer on this one. It really depends.

As a REALTOR® working in the north and east Twin Cities metro for several years, I have seen my share of sellers who were insulted by a buyer’s offer. And not just in a market where buyers have the upper hand either. A decade ago, anything but a full priced offer was insulting. Buyers were afraid to request a few thousand toward closing costs lest the sellers would balk and accept the next offer in line. So buyers would skip inspections and write offers thousands more than asking just to get into their "dream" home.

Those days are but a memory now...Sellers throughout Anoka, Washington and Chisago Counties are anxious to sell. They know that they are competing with short sale sellers (those who have to sell and owe much more than their home is currently worth) and foreclosed homes. Few traditional home owners with “for sale” signs in the yard are naive enough to expect a full priced offer in this changed market.

The problem is that there are naive buyers who believe sellers are desperate to take ANY offer. But in reality most sellers can't or won't accept just “ANY” offer. An offensive lowball offer could put the buyers’ dream home purchase in jeopardy.

How to Coming up with an Acceptable Starting Point:

• Ask Your REALTOR® to do a Market Analysis for the Home. In this market, I always pull the comparables to see what has sold recently in the neighborhood before my buyers decide what to offer on a home. Many sellers are listing homes at or below current market value. If the home is properly priced, anything less than 15% of the current asking price could be considered an insult. Currently, in the Twin Cities market, most homes are selling for about 990-95% of asking price. This percentage does not include seller paid closing costs either which does reduce the net offer. By looking at the neighborhood comparables, my buyers better understand what offer will be considered reasonable.

Keep in mind that if you are working directly with the listing agent who is under contract with the seller, they cannot ethically prepare a market analysis for a buyer. As a dual agent (working for the buyer and the seller) they must remain neutral regarding price negotiations.

• Consider the Original List Price. If someone has come down 25-30% or more from when they originally put their home on the market, they have made improvements since listing to the condition and now the market analysis shows the home is priced fairly, writing an offer over 10-15% less could be insulting. If this truly is THE home for my buyers, we discuss whether it makes sense to offer closer to the asking price rather than hitting the seller with a lowball offer.

• The Overpriced Home. If the market analysis shows the home to be significantly overpriced and the offer will be more than 20-25% less than current the current asking price. I provide the comparables to the seller. Sometimes when the offer is accompanied by documentation to back up the offer, the seller is less offender especially when it is explained that these are the same comparables that will be used by an appraiser. If the home doesn't appraise, the offer will have to be renegotiated in most circumstances.


• Buyer’s Plans to Remodel and Update. Be careful when using documentation for changes that reflect cosmetic and personal taste. Many sellers will be insulted when a buyer’s offer indicates that they are offering tens of thousands less due to paint, carpet and other cosmetic changes that a buyer wants to make. If the updates are necessary due to age or wear, make note of the fact and consider whether the home is currently priced to reflect the condition or not. Slamming a well maintained and updated home to justify a low offer is insulting.


• Avoid Considering Price Paid for Home. Many buyers think that if someone purchased a home a decade ago they mus have tons of equity. This could be true but it is not a hard and fast rule. Many sellers have taken the equity out of their home for improvements or for other reasons. Keep the negotiations focused on the fair market value of the home.

Most sellers are in waiting impatiently for that non-contingent buyer to write an offer on their home. In most cases, they understand the market and have worked hard to prepare their properties to entice an offer. But buyers must think through their offers; the perfect starting point for negotiations must contemplated thoroughly. Discussions can go south very quickly between buyer and seller when the initial offer is deemed rude. If you want to try a lower offer to see how low a seller will go but are prepared to pay more, make sure a note or letter accompanies the offer saying this is a starting point for negotiating on the beautiful home and property...a little kindness often goes a very long way.


Copyright 2011www.terieckholm.com

It's Tornado Season! Understand the Risk of Loss Clause--Know WHEN a Contract be Cancelled!

Imagine for a moment the following scenario: After months of searching for the perfect place to call home, you wrote an offer on a picture perfect lakeshore rambler in Ham Lake, Minnesota. After a little negotiation, the offer was accepted and with the inspection over, you are on schedule to close in 60 days.

Three weeks prior to the closing, straight-line winds blow through Anoka County. Concerned, you drive up to your dream home and see that the picturesque oak trees that had given the home character have been uprooted. Worse yet, one of the huge trees fell onto the house severely damaging the roofline. You are devastated as this was no longer the dream home you wrote an offer on a few weeks ago. So, what happens now?
Risk of Loss is one of those "boiler plate" clauses on page four of the purchase agreement used most often in the State of Minnesota. Being preprinted, some agents and/or their clients will gloss over this clause but it is very important to understand, as is every other line in the document you sign to buy a home.


Line 147 clearly states that the risk of loss due to any reason whether an act of God or the acts of vandals will be the responsibility of the seller from the time the purchase agreement is signed until the date of closing. That means if there is a fire or accident the seller is required to bring the home into the condition that it was in at the time the contract was written and signed.

So if that temperamental decade old dishwasher goes out, the seller would replace it. If a neighbor backs over the mailbox at the end of your driveway, it is the seller who must repair the post and replace with a new one. Final walkthroughs are essential to ascertain the condition of the home prior to signing the closing documents. But what happens to those irreplaceable picturesque trees that have fallen on the roof?

Three weeks prior to a closing, there could be plenty of time for the seller to call their insurance company and have the home repaired. But is it the same house? And more importantly, does the buyer still have to buy the home? In a word, no.

The clause goes on to say that in the case where there is substantial damage to the home or property, it is the buyer's option to cancel or continue with the purchase agreement. In the situation outlined above, which was a real situation that occurred last summer, the landscaping was changed and could not be replaced. The damage to the home caused an insurance claim that would now be reflected in a CLUE insurance report that could affect the ability to insure the home. The buyers opted to cancel the contract as was their option in the clause with all earnest money refunded.

Risk of loss can come up when buying or selling a home during severe weather season in Minnesota. In most cases the repairs are made quickly to both the buyer's and seller's satisfaction and the contract will close on time. But when the property sustains significant damage, the buyer has the option of continuing to closing or walking away from the deal. Boilerplate or not, Risk of Loss is an important clause to understand when buying or selling a home.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Homebuyers in Anoka and Chisago Counties--Put a bit O' St Pat's Day Green into your Home Search!

Celebrate St. Patrick’s Day by bringing a bit of “green” thinking in your home search. Whether your home search is in Anoka, Chisago or Washington County, there is an opportunity to buy real estate that's a wee bit green. Spring is the time that many start thinking about making a move. Homes are more affordable than ever before and there is still an awesome selection of single family homes on the market for buyers to choose from.

Ton’s O' choices on the market!

• Homes on lakeshore
• Homes on acreage
• Starter homes
• Foreclosures
• New construction

Here are just a few GREEN opportunities I found currently listed for sale in the north metro:

♣ Consider a home with a green shingled roof. There’s a beauty in Scandia on 3 acres. It is bank owned and seems to be quite a value with a price under $200K

♣ How about a home in Blaine’s Centennial Green development? This one is not a short sale or foreclosure and has a wonderfully remodeled kitchen.

♣ Looking for Lakeshore on Green Lake? This Chisago City home just listed and is a 3BR/2BA gem with 100 feet of shoreline.

♣ Maybe living in a two-story home where life is evergreen is more your style—here’s a 5BR/4BA home on Evergreen Lane in Circle Pines. Save some green with a recent price reduction too.

♣ But if going green on St. Pat’s means saving energy, why not consider this great Lindstrom home with a Geothermal heating system?

If none of these dwellings are striking your fancy maybe you will need the expertise of a REALTOR® to bring a wee bit of the Irish luck to your home search. (Okay…I know Eckholm is a Swedish name but I am still a Flaherty at heart). Give me a call and I will help you find your perfect home and put my expert negotiation skills to work for you to keep more “green” in your pocket too. And that’s no blarney either!

Copyright 2009 terieckholm.com

I LOVE Being a REALTOR®~~Making Homebuyers Dreams Come True!

Back in October, I was asked by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist to write about why I love my profession. I put this off for quite awhile. At first, I was going to write about what my Dream job would have been...We had just returned from Disney World and had the opportunity to meet a few of the Dream Team. These are people who spent the last two years walking up to visitors at the park and making dreams come true by letting families stay over night in Cinderella's Castle or giving them a unique behind the scenes tour or other special gift.

I have to admit, as part of a family of Disney Fanatics passing out dreams at Disneyland or Walt Disney World would be the epitome of a perfect job in my book...even if it was only a two year stint (Disney's Year of a Million Dreams ends in a few weeks...sigh.)

Every day making dreams come true...THAT would be an awesome job! But as I thought more about it, I realized that what I do makes others dreams come true too...First homes. Relocations. Move up homes. I love my job because I make dreams come true...not Disney Dreams but dreams just the same.

Today. I ran across this post from earlier this year where I wrote of helping first time homebuyers find their way home. The story gives an example of how I make dreams come true...one happy homebuyer at a time.

*****Best Part of Being a REALTOR®~ Helping First Time Buyers Find Their Way Home
Originally posted 3/8/2008 by Teri Eckholm/REALTOR®

Late on a Saturday afternoon, I received a phone call. The caller said he and his fiance had just driven by a listing of mine and could I show them the inside. "Are you working with an agent?" I inquired. "No", he said. The meeting was set for the next evening.


The young man and his fiancée arrived with an entourage of parents and assorted other relatives. Being first time buyers, they wanted assistance and approval on their first home. Looking over the home from top to bottom, they liked what they saw but needed time to think. I asked the question I always ask, "When you are shopping for a home, are you shopping for a REALTOR®?" The young man's dad answered, "They don't need an agent because they could get a better deal working directly with the listing agent." I explained why this wasn't true but could tell from the look on his face, Dad was not convinced.
I explained agency and asked the young couple to sign the disclosure on agency as required by the State of Minnesota. Buyers need to understand that at any listing for my broker, I am under contract to work for the seller and protect their interests. If the couple decides to sign a buyers' representation agreement with me, they would be in a DUAL agency when looking at homes listed by my broker. They had seen many homes with other real estate agents, but I was the only agent who explained agency to them or asked them to sign the required disclosure.

Days later, a decision was made; the young couple wanted to make an offer. A contract was signed for buyers' representation for the specific home only. Dual agency now applies. As an agent working for both parties, I could not do anything that would hurt either the buyer or seller. Because it was only for the specific home, I could not discuss other property options. An offer was presented, but terms could not be agreed upon. The buyers went away.

A few weeks later the price was reduced on my listing. I called this young couple to see if the lower price would be enough to renew their interest. It would. But there was also another new construction house in a different area that was being considered.

Another showing. They were sure that they had it down to between the two homes. I could see the indecision and confusion on their faces. I asked about the other home they were considering to help them contrast it to my listing to help my selling clients and put their home in a better light. As with most homes, neither home was a perfect fit. I am a firm believer that after weighing all of the pluses and minuses, homes will sell themselves if it is the right home for the buyer. A week passed. No offer came forth.


Finally a phone call from the young man. We have made a decision. We are not going to offer again on your listing. It is not the right home for us. In fact, neither home is right. We are starting over. "Would you help us find a home?"

Now as their buyers' representative, I got to work. For the next few weeks, we visited a dozen or so homes from the hundreds currently on the MLS that met their criteria. Traveling from Stillwater to White Bear Lake and Hugo to Forest Lake we narrowed down the field of potential homes to two or three. Finally, one sparked enough interest for a second showing with the parents, but this home also had a few quirks that raised concerns. That same evening, since we were out, I set up another showing for a home in a development that hadn't considered. Funny thing was, the home was perfect!


With the perfect home, there were no delay or hesitation in signing the offer; everything just fell into place. With every visit to the home for the inspection and walk-throughs, the young couple became more excited.

At the final walk-through, with minutes to go before they were to receive the keys to their first home, I asked them, "So, are you glad that you decided to sign with a REALTOR®?"

They answered in unison a resounding, "Yes!! You made it so much easier to find the right home! Especially for first time buyers." I don't make this stuff up...Those were their exact words.


After the closing, I received a hug and sincere, "Thank you for everything", from my young clients. As they set off to begin life in their dream home a thought struck me, what a great job I have!


Do you need an expert Buyer's Representative to help you find your Dream Home? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR ®, give me 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.
Buying a Home?


Check out my new HOME BUYER'S BLOG!


Copyright 2008 terieckholm.com

Revisiting the Idea of BUBBA--The Opposite of FSBO

Buying as a BUBBA is down in 2007 though still higher than FSBO. What is a BUBBA you say? It is a Buyer Unrepresented by a Buyer’s Agent. In 2006, almost a quarter of all buyers’ were BUBBAs. In 2007, according to the National Association of REALTORS® 2007 Profile of Home Buyers and Sellers, that percentage has dropped to 16%. Is this possibly due to all of the short sales and foreclosures that started appearing across the country at that time and buyers felt a NEED for the services of a knowledgeable professional? Maybe…I wonder if the number will drop again when NAR’s 2008 survey comes out in November.

At any rate…Buying as a BUBBA is still happening at a higher rate than FSBO (16% vs. 10%). As the real estate market becomes more complicated, professional assistance is more critical than ever when buying a home. Here’s my original post from back in March 2007, where I explained the BUBBA acronym in detail….Enjoy!

****************************************************************************************************************BUBBA—The Flipside of FSBO
Originally posted 3/9/07 by Teri L. Eckholm

Most people, whether in the real estate industry or not, have heard of the FSBO--A For Sale By Owner seller. The acronym has been used for quite awhile as there has always been a segment of the market that chose to sell their home directly to a new buyer. But, there's a new acronym being used by REALTORS® these days--BUBBA or Buyers Unrepresented By a Buyer's Agent. It is making it's way into the real estate agent vocabulary because this market segment is growing.

In 2006, according to the National Association of REALTORS® 2006 Profile of Home Buyers and Sellers, nearly a quarter of all sales (23%) were BUBBAs. Although many of these home buyers did work directly with a builder or at a sheriff's foreclosure sale, 9% purchased directly from the home seller.

The internet is probably the most contributing factor to the growth of this buying segment. Buyers are certainly more educated--shopping on-line for as many as 6 months prior to making their house purchase. The homes are listed on the web. There are guides as to how to purchase a home. The whole process is less mysterious and seemingly simple that many self-educated buyers are foregoing working with a REALTOR®.

Are You Considering BUBBA? Before you move forward unrepresented, here are a few things to consider.

BUBBA can cost more. Buyer's representation does NOT cost anything. But being represented can save thousands. When you sign a contract for buyer representation, your agent owes specific fiduciary duties to you to work in YOUR best interest. They are required to keep your information confidential. A REALTOR® does this as a profession, not once every 10 years like most buyers. They are experienced in negotiating a deal on a home that is in your best interest.
So how does a buyer's agent get paid? Every home listed in the MLS states a commission agreed upon by the seller with his agent to be paid to the buyer's agent of the particular home. Yes, the seller pays the fee for you to your agent.

But this does raise the question, "If I buy directly from the seller and he doesn't pay a commission, won't I get a better price?"

Probably not. Think about it this way, the seller set the price in the first place. If he is not working with an agent, how can you be certain that you received a good price on the home? And why would a seller, who doesn't know you, give you the savings he intended to pocket by not hiring an agent.

In this buyer's market, with so many different homes to choose from, it is easy to be overwhelmed in the purchasing process. So you just wander into a FSBO open house and the seller has an amazing charismatic personality. He is very slick and used a three year old refinancing appraisal to set his price. Is it a good deal?--Probably not.

Buying a home is not as simple as walking into a discount store for a new computer...And that process can be overwhelming. There are details to a purchase that many home buyers just don't anticipate. How old is the roof? When can we take possession after closing? Is the septic system in compliance with current state and local statues or does it require replacement? Are there encroachments, like a neighboring fence or driveway sharing issues? Are there assessments pending and who will pay for them?

All of these are situations an experienced Realtor will try to anticipate and resolve in writing as the transaction moves toward the closing.

Some people are accidental BUBBAS. They start out in a "learning" stage...That time period of six months to years where they are "dreaming" of a new home but don't want to commit to a REALTOR® or be pressured into a contract. They wander into an open house and it "is" their dream home. Since they didn't have an agent when they first came in, they feel uncomfortable informing the seller that they want representation and just move forward without one.

As a REALTOR®, I try to coach potential clients into developing a relationship with an agent early in the process. If you want to see a home, contact that agent and sign a contract for a specific house. That way your interests would be represented, if the house is perfect for your family. But you would not be locked into a 6 month contract, if you are not ready to make a decision.
Before becoming part of this growing trend in home purchasing, do research and carefully consider your options. You may be giving up more than you think to when making the one of the most important financial decisions of your life.


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Don't be a BUBBA! If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation 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.

Copyright 2008 terieckholm.com

Think You are Ready to Buy a Foreclosed Home?—Take the Quiz!

As a Realtor working in this changed Twin Cities real estate market, I get lots of questions:

• “Is it REALLY a good time to buy a home?”


• “With all the foreclosures, there must be some awesome deals?”


• “What does mean when an offer requires bank approval’?”

The media has lead many first time buyers and investors into believing buying a foreclosure or pre-foreclosure home is a great deal. So I get the questions. Potential buyers and those on the fence often want my expert opinion if buying a foreclosed home is a good idea. Well, my answer is it all depends on the buyer.

There are awesome deals on homes throughout Anoka County. Some of these properties are foreclosures or bank-owned. Others are short sale or upside-down, where the homeowner owes more for the home than the average buyer in the market place will now pay for the property. And then there is the traditional seller or builder who has the controlling ownership of the home, is ready to negotiate and move on to their next home.

Before you jump into buying a home in the changed Twin Cities real estate market, how do you know what type of property makes the most sense for you to buy? Face it—It is hard to pass up the very attractive, low prices on foreclosed and short sale listings. But not everyone has the stomach to handle the roller-coaster ride that accompanies the purchase of these homes. So, I created a 10 question true/false quiz to help you decide what might be your best option.

Is A Foreclosure or Short Sale Home for Me?

1. My ability to deal with household emergencies and repairs is limited to picking up the Yellow Pages and having a consult with Dex.


2. I have a huge rainy day fund and don’t know what it means to live on the edge from paycheck to paycheck.


3. I cheer for the banker in Deal or No Deal.


4. I expect empathy from the seller not apathy.


5. I have the patience of a saint.


6. I love my in-laws and vice versa that my entire family including the dog and two cats are welcome to live in their home for months on end while the deal goes through and the home is made habitable.


7. I will be purchasing my dream home.


8. I have expert knowledge in all areas of home construction and/or can afford to hire experts for inspecting the property prior to closing.


9. I need to be assured that my family won’t be exposed to lead paint, toxic mold, radon, failed septic systems, contaminated well water, rodents, insects and dirt.


10. This is the biggest personal investment of my life.

So how did you do? Are YOU ready to buy a bank-owned or upside-down property?
Question 1--False. If you answered true here, you might prefer to stick to the traditional seller. Foreclosed and short sale homes are not always in the best repair as the previous owners did not have the funds or desire to keep them in good condition. Paying out of pocket to hire contractors for every little repair can be cost prohibitive.
Question 2--True. If you truly have a considerable nest egg that can be invested in the known and unknown repairs of a foreclosed or short sale home, then it could be worth the risk. However if your budget can not withstand unexpected repairs, you might want to have a better understanding of the home you are buying with a complete seller disclosure and try to negotiate a home warranty with a traditional seller.
Question 3--True. Obviously a true on this one is an indication of a foreclosure and/or short sale buyer. You understand your purchase is just business to the banker. You are in it for the investment and feelings do not enter into the equation.
Question 4--False. Anyone who expects empathy from the seller needs to avoid short sales and foreclosure homes. The banks do not care about your family, your needs or your life. It is strictly a business transaction.
Question 5--True. If you don't believe patience is a virtue and answered false here, don’t even consider a short sale. Most transactions will take a minimum of 8 weeks for the purchase agreement that has been accepted by the seller to be reviewed by the bank. And when the bank finally reviews the agreement, then the negotiation begins. This process can take literally months!
Question 6--True. If your answer is false and your in-laws become out-laws after a day of togetherness, avoid the short sale or foreclosure scenario or find alternative housing prior to submitting your offer. Banks don’t accept contingent offers so if your current home sells and you put in that offer to the bank, your current property can close long before even getting an answer from the bank. Traditional sellers are much more flexible with timing as they are usually in a similar situation an can empathize with the buyers.
Question 7--False. In the best case scenario, the foreclosure/short sale buyer is purchasing a property not a dream. Dreams can become nightmares when buying an AS-IS foreclosure or short sale home. If you are not looking at the property as an investment devoid of emotions, stick with the traditional seller situation.
Question 8--True. If you cannot answer true to this question, be prepared to fork over hundreds of dollars for inspections on the home prior to purchasing it. Inspections and testing can cost into the thousands if the home is on a private well and/or sewer system, if there has been water intrusion/mold or if the home’s age indicates the possibility of lead or asbestos.
Question 9--False. If you need assurances about the condition of the home, stick with the traditional seller. In Minnesota homeowners are required to provide disclosures. Some inspection costs can be negotiated into a purchase agreement with a traditional seller like the well and/or septic system. Banks rarely pay for any type of inspection and buyers are often asked to agree to purchase the home AS-IS and waive their rights to a disclosure.
Question 10--False. If you answered true and this is the biggest investment of your life, as it is for many first time buyers or owner occupied residences, maybe a traditional purchase would make more sense in the long run. First time investors need to heed this warning and give careful consideration to foreclosures and short sales too. Until you can say, it is just another property and you don’t have your heart and sole tied to the investment, it might be more prudent to choose the investment with the least risk.

All kidding aside, these are serious questions to contemplate. Buying a bank owned property is not the right choice for the average buyer. Dealing with a corporation where a home is just numbers on a balance sheet can be frustrating. Buying a dream shouldn’t be a nightmare. The buyer alone is the only one who can decide whether buying a home that requires a bank approval is worth the risk, frustration and effort.

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Featured Ham Lake Listing--An awesome deal that is NOT a short sale or in foreclosure!

15139 E Vermillion Circle NE, Ham Lake, MN 55304

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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.
Copyright 2008 terieckholm.com

A Lowball Offer in Today’s Real Estate Market—How Low is it Safe for a Home Buyer to Go?

When is a lowball offer insulting? 10% less? 20% less? 50% less? And is it the percentage less than the original list price or the current asking price?

Well, my answer is it depends.

As a Realtor working in the north and east Twin Cities metro for the past several years, I have seen my share of sellers who were insulted by a buyer’s offer. And not just in a market where buyers have the upperhand either. A few years ago, anything but a full priced offer was insulting. Buyers were afraid to request a few thousand toward closing costs lest the sellers would balk and accept the next offer in line.

However times have changed. Sellers throughout Anoka, Washington and Chisago Counties are anxious to sell. They know that they are competing with new construction homes and foreclosed homes. Few home owners with “for sale” signs in the yard are expecting a full priced offer in this changed market.

In fact some situations may lead buyers to believe sellers will take ANY offer. But in reality most sellers won't accept just “ANY” offer. An offensive lowball offer could put the buyers’ dream home purchase in jeopardy.

How to Coming up with an Acceptable Starting Point:

• Ask your Realtor to do a market analysis for the home. In this market, I always pull the comparables to see what has sold recently in the neighborhood before my buyers decide what to offer on a home. Many sellers are listing homes at or below current market value. If the home is properly priced, anything less than 10% of the current asking price could be considered an insult. By looking at the neighborhood comparables, my buyers better understand what offer will be considered reasonable.


• Consider the original list price. If someone has come down 25-30% of the value of the home already and now the market analysis shows the home is priced fairly, offering 10% less could be considered insulting. If this truly is THE home for my buyers, it might make sense to make an offer closer to the asking price.


• The Overpriced Home. If the market analysis shows the home to be significantly overpriced and the offer will be more than 10% less than current the current asking price. I provide the comparables to the seller. Sometimes when the offer is accompanied by documentation to back up the offer, the seller is less offended.


• Buyer’s Plans to Remodel and Update. Be careful when using documentation for changes that reflect cosmetic and personal taste. Many sellers will be insulted when a buyer’s offer indicates that they are offering tens of thousands less due to paint, carpet and other cosmetic changes that a buyer wants to make. If the updates are necessary due to age or wear, make note of the fact. But slamming a well maintained and updated home to justify a low offer is insulting.


• Avoid Considering Price Paid for Home. Many buyers think that if someone purchased a home 5-10 years ago they have a ton of equity. This can be true but not always. Many sellers have taken the equity out of their home for improvements or for other reasons. Keep the negotiations focused on the fair market value of the home.

Most sellers are in waiting impatiently for that non-contingent buyer to write an offer on their home. In most cases, they understand the market and have worked hard to prepare their properties to entice an offer. But buyers must think through their offers; the perfect starting point for negotiations must contemplated thoroughly. Discussions can go south very quickly between buyer and seller when the initial offer is deemed rude.
Need help coming up with that perfect starting point for your home offer? If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.
Copyright 2008 terieckholm.com

Dispute Resolution—Understanding Arbitration in Minnesota Real Estate

This past week I received an email from a reader of my blog who was upset after receiving an arbitration ruling that did not go in his favor. He had read one of my past posts What is a Septic System? How does it differ from a city sewer system? He and his wife had recently purchased a home in Andover, Minnesota and filed for arbitration after discovering a significant problem with their septic system and that the disclosure forms their received were incomplete.

The arbitrator ruled in favor of the sellers, agent and broker and the frustrated homeowner doesn’t understand how this could have happened. He strongly cautioned me to never let my buyers agree to arbitration. I don’t know all of the details of his situation but he was obviously frustrated with the system.

Fortunately, I have not had any clients with outstanding disputes following closings that lead to arbitration or litigation. When clients on both sides of the transaction take the time to:

• Disclose all defects in the home
• Perform all inspections
• Opt to purchase warranties if necessary
• Review all documents
• Discuss any and all aspects of the home honestly and thrououghly

Then buyers have a good understanding of what they are purchasing and the limitations of the existing home. Good honest disclosures will prevent most disputes.

If you are considering buying or selling a home in Minnesota will be confronted with the question, “Do you agree to arbitration?”
It's a tough question as most clients do not understand the system they are agreeing to when they receive the disclosure form. Disputes can arise in real estate transactions, so understanding the process of arbitration is essential prior to sitting down to sign the purchase agreement.

When we purchased our first home, prior to my becoming a Realtor, I remember the explanation of the arbitration system given by our real estate agent. “It’s an inexpensive alternative to the legal process and frankly anyone who doesn’t agree to it is a fool as an attorney can cost thousands more.” We couldn’t wait to sign the form.

As a Realtor, I am more diligent when explaining this arbitration system. Though I am not an attorney and cannot give legal advice, I am required to explain this document to my clients. Here is a synopsis of what I say when I explain this form:

“When there is a dispute after the closing, buyers and sellers can choose to arbitrate or litigate for a resolution. By signing the arbitration form, you give up your right to litigate and agree to binding arbitration. Though parties can hire an attorney to assist them with the process, they cannot take their case to a court; they must file a request for arbitration. After the arbitrator makes a ruling, all parties MUST comply with the findings of the arbitrator.”
In Minnesota, the arbitration system for residential commercial property is Construction Arbitration Services (CAS). In reviewing the CAS website, I discovered that hiring a team of arbitrators is not inexpensive. While for small situations under $3000, the fees are relatively low, starting at $250 for one arbitrator to review documents, the numbers are significantly higher for larger claims. If you want to speak with the arbitrator to present your case, the cost jumps to $650 on a case under $3000.
For the situation described above, one arbitrator for a three party case would be $1,200-$1,500 and hiring a 3 member panel would be nearly $2,500! The party bringing the claim would be required to pay the amount upfront for the service and would only receive reimbursement if the decision was in their favor. The arbitrators are not employees of CAS but are neutral third-parties trained in dispute resolution and could be anyone of a number of trained professionals from a variety of backgrounds.  


So what should a buyer or seller do when confronted with this form, sign or not sign?

Again, I cannot give legal advice but a popular option is to decline signing at the time of writing the purchase agreement. This is not an outright refusal to ever agree to arbitration. It is a way to keep your options open in the event a dispute arises. This way a buyer or seller could chose to hire an attorney, file for arbitration or present your case to a small claims court judge if need be.



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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/

It’s Springtime! Our Sunglasses are on! We have a Full Tank of Gas! Let’s Go House Shopping!

It’s almost springtime and you are getting that bug. You know that little feeling that tells you that this is the year to buy a new home.

Interest rates are low. There is a great selection of new and existing homes. And frankly, you are just tired of renting!

So how do you go about finding a home? Most people start on the internet. If you are reading this, it is a good bet that you started with an online search. But after spending days, weeks and months online, now its time to venture outdoors and see some houses.

So on a perfect winter Sunday, you start driving by some of the properties that were presented so beautifully on the computer screen. You see the real estate signs and the open house arrows, you drive slowly up to the home but the car won't stop. You are frozen with questions.

What will you say to the agent in the home?

What do you do?

Relax. You are not alone. Many first time home buyers panic outside of an open house because the are unsure of what will be expected of them after they walk through the door. Heck, some aren’t sure before they step over the threshold whether or not to ring the doorbell or just walk in. So you are in very good company.

Here’s a few quick tips for getting the most out of attending real estate open houses.

1. Get out of the car! Sounds so simple but you can tell more about the home from the inside of the house than the inside of your car.


2. Walk right in! If you feel self conscious, ring the doorbell for fun first. That way you can be certain it works.


3. If the agent doesn’t say “Hello”, say it first. Let them know you are just checking out the place.


4. Take a look around. Check out every room, closets, basements, attics and ask the agent questions about the home.


5. While you are checking out the house, check out the agent. Size up the person to see if he or she is someone that you would want to represent you in the purchase of your home.
   

Here’s the thing, the first home you visit may or may not be the perfect home for you. Heck, probably not even the second or third one will have that "IT" factor for you.

But stopping in open houses gives you a unique opportunity to size up Realtors to see if there is one that you would want to work with. If you take a Sunday and go to 6-7 open houses, you will meet 6-7 different agents. Some you will like; some you will hate; and one you will downright love to work with.

When you connect with one, sign that buyers’ representation agreement, visit with a loan officer for pre-approval for a loan, and then have them show you everything home on your short list. Not all home owners allow open houses. Working with one agent will save you time and frustration and allow you to see all of the homes you have on your short list in one day.

So what are you waiting for? Get in the car and get out there. Your perfect home and Realtor awaits!

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Looking for a great open house for this Sunday in the Twin Cities North Metro?

Open House 20685 Georgia Ave Forest Lake, Sunday February 17 from 1-3 PM

If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/

Love at First Sight

Decades ago as a young man walked through the door of a neighborhood restaurant. His eyes met those of a young girl. In that instant, their lives changed. It was years before they married and there were many ups and downs. But they are still together and in love today.

A few years ago, another young woman shares a conversation with a young man in a record shop. After a few minutes she leaves. The young man followed her out the door and said, “If I let you go without asking for your number, I will regret it the rest of my life.” This couple is engaged and plans to be married in the next year or so.

I know that look…As I was that first young girl. My niece was the second.

Funny thing is that when I see that look these days, it is when my buyers fall in love with a house. After showing house after house to my clients, whether they are first time buyers or moving up or downsizing, I can see it in their eyes when we have found the one!

• It is not always the best house.



• It is not always the most expensive.



• The homes are not always perfectly staged.

But something about the property strikes the heartstrings of the buyer and I can see it in their eyes.

I am a firm believer in houses selling themselves.

For most home buyers, a housing purchase is unlike any other investment; it is an emotional decision. My job as a buyer’s representative is to provide stable, unbiased support and assistance through the process. So while my buyers are starry-eyed looking at the paint colors and room sizes, I check out the nooks, crannies and disclosures to point out things that might be overlooked. While not an inspector, I will point out questions to ask of the sellers and home inspector should the buyers decide to write an offer. Sometimes flaws are hard to see with stars in our eyes.

Falling in love at first sight is a wonderful experience whether with another person or a home. It is important to take the time to get to know that object of your affection before making a commitment. A professional Realtor can guide love struck buyers through the process so that they get a good deal on their dream home. My job as a real estate agent is to look out for my buyer’s best interests so they can remain in love with their dream home as long as the live there.

Have a Wonderful Valentine’s Day!

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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/

Avoid Being “The Biggest Loser” in this Changed Real Estate Market!

For the past couple of years now, the term “Buyer’s Market” has been synonymous with the real estate market. Obviously this is the opposite of the “Seller’s Market” term that had been used for the prior decade. I too, tossed around these descriptions until recently. A few months back, I decided when I use these terms I negatively affect half of my clients.

A buyer’s market, defined as a market with many sellers and few buyers, gives the impression that all buyers are winners making the sellers the losers. Likewise, in a seller’s market, with fewer sellers than buyers, there was an implication of the sellers getting the upper hand in every deal.

But here’s the rub: In this market, not ALL sellers lose and not ALL buyers win.

A seller that purchased a home in the early 1990’s, maintained it properly, diligently made payments and didn’t refinance out all of their equity can sell a home today at a handsome profit. This seller is in no way a loser.

A buyer who purchases a foreclosed home from a bank without a disclosure for a price well below the value of neighboring properties then discovers toxic black mold in the walls costing, a failed septic system or cement in the plumbing with unexpected repairs in the tens of thousands is not a winner.

These situations are part of today’s CHANGED real estate market. Yes, that is how I describe the market now. I avoid the phrases, “buyer’s market” and “seller’s market” and used "changed market" instead. Face it, the market has changed. But there can be winners on both sides of the transaction.

Here’s a case in point: A savvy young couple, who wanted to take advantage of the glut of new construction models on the market last year in the Forest Lake area and sell the Anoka County starter home they had outgrown, were winners! They negotiated with a major builder on a perfect model and saved over $30,000 on the price. Then after making all necessary repairs, they listed their home at a rock bottom price equal to what they had paid for it four years earlier, and sold it in less than 60 days.

Did they lose money on the sale of their previous home? Probably. But this educated couple realized they were not losers. Their gain from the builder far outweighed the money they lost on their sale. Had it been a hot “Seller’s Market” they might have sold their starter home for a few thousand more but the builder would never have negotiated the drastic price reduction. All parties in this transaction were winners all the way around…The buyer of the starter home got a great deal. The move up couple sold quickly and got and awesome deal. The builder reduced their home inventory. Win. Win. Win.

This is just one example of the success stories I have witnessed this past year in this CHANGED real estate market. I know of dozens of examples of other individuals and families, both buyers and sellers, who are winners in this market.

Is it your turn to be a winning home buyer or home seller? If you are thinking that now is the time to make a move but the constant gloom and doom of the media has you sitting on the fence about buying or selling, contact a Realtor to help you assess your situation. Getting professional real estate assistance from the get-go is the best way to win in this changed market.

The young move-up couple in the previous story had contacted me months prior to finding their dream home to figure out a plan of action. I give sellers throughout the north and east Twin Cities metro area realistic facts about how to get their homes ready and where they need to be priced. They were prepared and ready to negotiate realistically with buyers when an offer came in on their property.

Sellers who are upside-down with their mortgage can also be winners in this market. Being upside-down is when you owe more money on a home than it would sell for on today’s market. Working with a Realtor that knows how to work with a bank to negotiate a short sale for their home and save their credit rating is a win for that seller. A foreclosure on a credit rating will become a huge red flag that will stay on your credit report for nearly a decade.

When I meet first time buyers, I give them a packet of information on how to buy a home so they are prepared for what to expect in the process. Before we start deciding whether to look at homes in Forest Lake or Hugo, I make certain my buyers are pre-approved for a loan with a reliable mortgage broker who will get the job done. Clients understand exactly what they can afford and what their payment will be. Then I discuss with my buyers the opportunities and pitfalls when looking at foreclosed homes, short sales, new construction and owner occupied homes. Prepared clients are then ready to jump on the perfect house and when the situation arises. With my expert assistance, buyers understand how to finesse a low offer as a starting point to negotiations so they can get their dream home at a price acceptable to both parties.

Are you ready to make a move? Team up with a great Realtor and get educated! Whether buying or selling a home in today’s market, there is no reason to be the biggest real estate loser. Win-win sales are possible and are my goal in every transaction!

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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/

January Thaw Brings Out Home Buyers in the Twin Cities North Metro—Is Real Estate Making a Comeback?

With the Minnesota Vikings out of the playoffs, Sundays are once again a good opportunity to sell real estate. At my first open house of the year yesterday, I wasn’t able to sit down for a minute and read a chapter in the great novel I had brought with me. As soon as the sign was placed on the snow bank at the end of the drive, buyers started coming through the door.

What?!! Buyers???

On NBC's Today Show this morning, a real estate expert implied that there are no homebuyers to be found. Well that so called expert wasn’t in Forest Lake, Minnesota yesterday. The beautiful sunny day and well priced split level brought out several interested parties.

First time buyers

Move up Buyers

Empty Nesters

Sure some could have been tire-kickers, killing time on a Sunday afternoon. But it is my expert real estate opinion that most were seriously considering making a move. Will any of them write an offer on that particular house? Possibly, but that is not the point. The good news is I believe almost everyone I spoke with yesterday will be making a move this year! It is exciting to see the market charging up for a great 2008!

People, NOW is a great time to move!

Sellers, NOW is the time to start getting your home ready for the spring market. Ignore the naysayers! It is time become educated on how to get your home priced and prepared properly to be sold quickly. A quickie, internet market estimate for pricing just won’t do. Call a real estate expert in your market to pave the way to your new home.

As an expert in the northern Twin Cities suburbs, I have been successfully listing and selling homes throughout Anoka, Washington and Chisago Counties last year. I know what it takes to get a home sold in this changed market. My list to sold ratio was 71% last year—Yep, I sold 5 out of 7 homes I listed in 2007!

Buyers, NOW is the time to write that offer. With so many wonderful homes on the market, you really have a chance to be selective. But don’t wait too long as more buyers are getting that spring buying fever, homes will start disappearing from the active MLS and go into pending sales. It happens every year whether we are in a slower market or not, spring fever and the real estate market go hand-in-hand in Minnesota.

Buyers get educated and sign a buyer's representation agreement! Yesterday almost all of the buyers that came into my open house were not represented by a Realtor. I had the opportunity to educate several people on why having a Realtor working for you does not cost anything and can actually SAVE money.

Don't let the media dictate whether you make a move in 2008 or not. Team up with a good Realtor and make 2008 the year that your housing dreams come true!

Additional Articles for Home Sellers:
Top 10 Ideas to Get Your Home Ready to SELL!
Open Houses—Do they Work in a Buyer’s Market?
What is your Realtor’s List-to-sales Ratio?
Is the "Busy Road Factor" Affecting the Sale of Your Listing?

Additional Articles for Home Buyers:
Rent VS Buy? It's Time to Revisit the Question!
Real Estate Agent Selection Primer—How to Choose to the Right Realtor for You!
First Time Buyers: Helping Define YOUR Dream
Dreaming of life on MN Acreage? What YOU need to know Before You Make Your Move!

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If the January thaw gave you a bit of spring moving fever and you need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/

The Thousand Dollar Gamble—Why Buyer’s Representation is Essential!

I love working with home buyers! First Time Buyers. Move up Buyers. Relocation Buyers. You name it—I love it!
That is why a few weeks ago when a young couple called for a showing on a home I have listed, I was excited. I pulled together my Home Buyer’s Packet with information and tips for anyone considering making a move and headed off to the home.

Now I know that most people do not fall in love with the first home they are shown. But, I am also aware that buyers scour the internet for weeks, even months prior to calling a Realtor. So after a few pre-qualifying questions, I knew this young couple was ready to buy their first home.

I arrived to the home first and turned on all the lights to brighten up the place. A few minutes later several cars pulled up. The young couple and both sets of parents got out to inspect the property. After looking everything over, I asked the young people the big question:While you are out looking at homes, are you looking for a Realtor at the same time?
Usually the answer is vague so I am ready with my speech about choosing a Realtor. This time one of the dad’s spoke up. “They don’t need an agent because the will get a better deal without one.”
OK. I just met the young couple and their parents so I had to tread lightly here. I wanted a further explanation of what this guy was thinking, so I asked. It was his belief that with both sides of the commission on the table a better deal could be negotiated.

Well maybe, but usually not. Yes, there can be variable commission rates with dual agency so the offer could be a bit more attractive to a seller. But that amount is negligible in the grand scheme of things when buying a first home.

The total commission paid by the seller on a $200,000 home will run anywhere from $8,000 to $14,000. Now unless the agent is the listing broker, a percentage of the commission will go to the brokerage; usually 25-50%. Now we are down to a total commission for the agent of $4,000 to $7,000. How much of that will the buyer see in a lower purchase price? Maybe $1,000 to $2,000. Is it worth a thousand bucks to gamble that a great agent is going to be the listing agent on YOUR dream home?
In the alternative, if a first time buyer signs a buyer’s representation agreement with a Realtor, the savings can be in the tens of thousands. When you work with a Realtor to show you properties, that agent will help you through the negotiations, prepare a market analysis for the neighborhood, and assess each property with you. When you walk into a home unrepresented, the listing agent is working for the seller until you sign and agree to dual agency. The agent owes the fiduciary duties only to the seller, including disclosure and confidentiality, so everything you say about your financing and interest in the home is disclosed to the seller as required by the listing contract.

Minnesota state law requires that I disclose that I am working for the seller when I first meet with buyers. When I explained the Minnesota agency disclosure document to this young couple, it was the first time they had seen or heard of it after viewing several homes with various agents. It was obvious to them that not all agents are following this law.

This is where I will leave the story of these first time buyers but I want anyone considering buying a home to remember this, buyer’s representation with a Realtor will save you money. Here are a few examples of how this savings can work:

New Construction—When buyers visits a model home, the sales agent in the house will quote the list price and discounted savings that the builder is offering. That's it...End of Story. But, if buyers sign with their own agent, often a better price can be negotiated with the builder. I had clients who saved an additional $15,000 last year on their dream home from the price quoted by a sales agent. Had my buyers walked into the model without me as their Realtor, they would have paid more for their home.

Existing Homes—As I walk through each potential home with buyers, I point out concerns to address in the purchase agreement. Will the upgraded fixtures stay with the home? Is that discoloration a moisture problem? The carpet, roof, furnace needs replacing, can it be done prior to closing?

As a buyer’s agent, I will discuss these issues with you on the home and assist you structuring an offer addressing the defects in the home and repairs that will be needed. I also assist my buyers in determining a fair initial offer on the home based on comparable homes that have been recently sold in the area. If the home is overpriced, we can often negotiate a lower sales price. If the roof needs replacing and we are able to negotiate a new roof, that can be $4000-6000 in savings alone.

Will the listing agent point out all concerns or that the home is overpriced? The answer is no, as they are working for the seller. Unless it is a material fact about the property, there is no duty to disclose to the unrepresented buyer.
Septic Systems and Wells—These are important and very expensive issues when considering purchasing an acreage property. Some Realtors who work mostly in the Twin Cities will not know how to address these home features. If after agreeing on a price for the home, the septic or well does not pass an inspection, who pays the thousands of dollars for the repair or replacement?


If you are looking at an acreage property, having a Realtor that understands how the testing process works and how to write a purchase agreement to address these important issues is essential. The cost of replacing a failing septic system can be well over $10,000, not including replacing landscaping for the new drain field. Wells can have a similar price tag if complete replacement is required.

Service Professionals—Whether you need a loan officer, title company or inspector, many Realtors have a list of service professionals at their fingertips to get the job done efficiently and at the lowest possible cost to you. Most buyers do not have first hand knowledge to make a great selection for these professionals. When making the single largest purchase in your lifetime do you really want to take your chances asking DEX? I work in this industry everyday and know when it is worth it to pay a few dollars more and when the savings is not worth the cost.

The bottom line when buying a home is, you need a knowledgeable advisor in your corner. Partner with a Realtor you trust before you find that dream home. Not only can it save you thousands, it can save you headaches as well.


More Articles on Buying Real Estate that might be of interest:

• Are You a BUBBA?


• Real Estate Agent Selection Primer—How to Choose the BEST Realtor for YOU! (Part One of Two)


• Real Estate Agent Selection Primer—How to Choose the BEST Realtor for YOU! (Part Two of Two)


• Rent VS Buy? It's Time to Revisit the Question!


• How to Choose a Realtor—Why a Good Friend is Not Always a Good Option


• How to Choo-Choose a Realtor and Avoid a Train Wreck!

Featured Listings:
3608 Woodland Drive, Ham Lake
20685 Georgia Ave N, Forest Lake

Ready to buy in the Twin Cities without taking a gamble? If you are considering buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2007 www.terieckholm.com

Take the Home Off the Market or Stay the Course—What Should a Seller Do During the Holidays?

It is getting to be that time of year again. The holidays are upon us but the house hasn’t sold.

What should a seller do?
At first inclination most sellers opt to withdraw their home from the market believing that the preoccupation with the holiday season puts few buyers in the market. While there is truth to this belief, sellers can be ignoring another more important truth: Buyers looking at houses during the holidays are V-E-R-Y serious buyers.

There are not many tire-kickers running around with a Realtor when there are presents to buy and gifts to wrap. November, December and January showings are a seller’s opportunity as most homes that buyers visit at this time of the year are vacant. A buyer’s choices are down to model homes, empty relocation properties and foreclosures. A welcome home filled with the colorful sights, delightful sounds and wonderful aromas of the season give a unique opportunity for those wanting to sell.

Tips for Showing & Selling During the Holidays

1. Decorate! Tastefully of course. This might not be the year that you do the Griswold display of lights as in National Lampoon’s Christmas Vacation, but a decorated tree, candles and wreaths can add a special touch.
2. Bake and leave out a Christmas Cookie or two. Why should Santa have all of the extra calories?
3. Keep the home fires burning! Make sure the fireplace is burning bright, warm and welcoming!
4. Play holiday music. Leave out the barking version of Jingle Bells and go for instrumentals or uniquely Minnesota regional artists like The Blenders.
5. Shovel and salt the sidewalk and driveway if necessary. No one wants to spend the holidays in the emergency room with a twisted ankle.
6. Leave the front light on! Don’t forget it is dark out during those early evening showings. Make certain buyers and their agents are able to see their way to your front door and lockbox.

If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation 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.

Copyright 2007 www.terieckholm.com