Are you Stalking a Real Estate Sleeper?

Do you have your eye on the perfect home but have yet to make a move? You know the house I mean...It's been there saved as a favorite for a couple of months and it is priced right. In fact, it is a steal of a deal. But you are still on the fence about buying a home and so you just continue to "stalk" the listing but never act on it. Maybe you are trying to time the market and see if seller of that "sleeper" is going to drop the price again. Well wake up bargain hunter! It is very possible you are not the only one with an eye on that sleeper. If you wait too long it will be gone.

A real estate "sleeper" is a well priced home that hasn't sold yet. Usually the home is a great property, location, structurally sound and priced well but has not sold. In a winter market, especially just after the holiday season, sleepers are abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked. Possibly several very similar homes went on the market at the same time. Maybe the seller did receive an offer and the buyer's financing fell through so now it is "back on the market" through no fault of the house itself.

But if you are a buyer sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers over the years throughout the north and east metro. In each case, there was minimal activity on the property then BAM....we had 3 or 4 qualified parties interested in the home at the same time. In these particular cases, they weren't the cookie-cutter variety either. One particular home in Washington County/Forest Lake area had a one-of-a-kind wooded lot and was in a perfect location. After months on the market, without an additional price reduction, over half a dozen serious buyers suddenly appeared. People were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even "pooh-poohed" the idea and mildly accused me of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting. Subsequently, I had several parties, buyers and agents alike, in disbelief, that it was suddenly sold!

If the sleeper phenomena had happened only one time over the years, I would consider it a fluke but I have experienced this situation on homes in Washington, Ramsey, Chisago and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So home buyers heed my warning, if you are on the fence watching a sleeper, now might be the perfect time to make your move...Or someone else might beat you to it!



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

Act NOW on that Real Estate SLEEPER Before it is SOLD!

Maybe you don't know what I mean by a "sleeper". Well, if there's a home you have been watching for a  few months that seems to be priced right but just isn't selling. It's not a short sale but it just isn't moving. In some ways, compared to some of the homes recently listed, it is a steal of a deal. Yet you are kind of waiting on the sidelines, not sure if now is the time to buy a home. You are timing the market so to speak, waiting for the perfect moment to make your move and watching to see if seller of that real estate "sleeper" is going to drop the price. Well wake up bargain hunters...You might not be the only one with an eye on that sleeper and if you wait too long it will be SOLD!

A real estate "sleeper" is a home that is priced fantastically and is a great deal but few people, if anyone, is paying attention to it. It is a solid property, in a good location, structurally sound and priced well but has not sold. In a buyer's market where there is significant home inventory but few buyers, sleepers are abundant. And surprisingly, while inventory has gotten tight with few new listings coming on the market, there are still some sleepers out there too!

How does this happen? Maybe the home was originally over priced and though price reductions have brought it into line, it is continues to be overlooked. Some buyers only look at just listed homes and avoid houses that have high days-on-market statistics.

Possibly several very similar homes went on the market at the same time and maybe this one just didn't compete as well in decor. Picture for a second, three homes listed during the same week in a cookie-cutter development where all the homes have roughly the same floor plan. All the home are the same age, condition, and priced very well, but only one homebuyer comes through the neighborhood during the first few weeks. So after 30 days, there are two sleepers left that didn't sell. Since the two houses are essentially the same as the neighboring home that sold, it's wasn't because the homes aren't properly priced. This is another scenario that will cause a sleeper.

But if you are sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have recently had a buyer working through the numbers and watching a sleeper in northern Washington County. In this case, nothing was happening on the property but there was one price reduction, then another and suddenly the home was SOLD straight into pending! In this particular cases, if wasn't the cookie-cutter variety either. It was a beautiful new construction model in Scandia. The home was in a perfect location with a nice private lot. 

And then are my listed homes after being on the market for a few months suddenly will have over half a dozen serious buyers take a look at the home. Agents and their buyers are nonchalant when I stress the home has had a sudden surge of interest. Many even "pooh-poohed" the idea and mildly accused me of trying to coerce an offer. When the first offer came in, sellers don't want to wait and see if another offer might materialize. They make their decisions and the homes are suddenly sold!

If the sleeper phenomena had happened only one time this past year, I would consider it a fluke but I have experienced this situation on homes throughout Ramsey, Washington, Chisago and Anoka Counties recently. In some cases I was the listing agent and others I was representing buyers.

So homebuyers heed my warning, if you are on the fence watching a sleeper, now might be the perfect time to make your move...Before someone else beats you to it!

Copyright 2012 www.terieckholm.com

Hey Anoka County Homebuyers! Do you Have your Eye on a Real Estate SLEEPER?

You check the MLS link every day and there it is...sitting on the market day after day. It's your dream home and you have watched it for a couple of months now. It seems to be priced right; in fact, it is a steal of a deal. But the market has you paralyzed into watching and waiting rather than making your move on the perfect home so there you are on the fence still waiting until that perfect moment to call up a REALTOR® and put in your offer on your dream. As you continue to "time the market", waiting to see if seller of that “sleeper” is going to drop the price again, you may be missing out. It is time to WAKE UP! Because, you might not be the only one with an eye on that sleeper and if you wait too long it will be gone.

A real estate “sleeper” is a home that is an amazing deal but few people, if anyone, is paying attention to it. Usually it is a great property, location, structurally sound and priced well but has not sold. In a buyer’s market where there is significant home inventory but few buyers, sleepers are abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked because of high days on the market statistics.

Possibly several very similar homes went on the market at the same time and in the same condition. Picture for a second, three homes listed during the same week in a cookie-cutter development where all the homes have roughly the same floor plan. All the homes are the same age, condition, and priced very well, but only one homebuyer comes through the neighborhood during the next two months. So after 60 days, there are two sleepers left that didn’t sell. Since the houses are essentially the same as the neighboring home that sold, it's not that the homes aren't properly priced. This is another scenario that will cause a sleeper in this changed market.

And then some great homes are "sleeping" on the market because…well, there is just so much darned inventory out there!

But if you are sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers this past year throughout Anoka, Ramsey and Washington Counties. In each case, nothing was happening on the property then BAM....we had 2-3 qualified parties interested in the home at the same time. In these particular cases, they weren’t the cookie-cutter variety either. One home in Ramsey County in the White Bear Lake/Vadnais Heights area in an ideal location. After months on the market, there were suddenly two offers in one day! Agents and clients were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even “pooh-poohed” the idea and mildly accused me of trying to get them of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting and I had several parties, buyers and agents alike, shocked, and more than a little miffed, that it was suddenly sold!

If the sleeper phenomena had happened only one time this past year, I would consider it a fluke but I have experienced this situation on homes in Washington and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So homebuyers heed my warning, if you are on the fence watching a sleeper that is currently listed, now might be the perfect time to make your move...Contact your REALTOR® for a showing, make sure you have your pre-approval from your loan officer ready to go and make your move! Or someone else might beat you to it!

Copyright 2011www.terieckholm.com

Hey Homebuyers—Do you Have your Eye on a Real Estate SLEEPER?

You know what I mean…There is a home you have been watching for a couple of months and it is priced right. In fact, it is a steal of a deal. But you are still on the fence about buying a home and want to wait until that perfect moment. You are timing the market so to speak and waiting to see if seller of that “sleeper” is going to drop the price again. Well wake up bargain hunters…You might not be the only one with an eye on that sleeper and if you wait too long it will be gone.

A real estate “sleeper” is a home that is an amazing deal but few people, if anyone, is paying attention to it. Usually it is a great property, location, structurally sound and priced well but has not sold. In a buyer’s market where there is significant home inventory but few buyers, sleepers are abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked because of high days on the market statistics.

Possibly several very similar homes went on the market at the same time and in the same condition. Picture for a second, three homes listed during the same week in a cookie-cutter development where all the homes have roughly the same floor plan. All the home are the same age, condition, and priced very well, but only one homebuyer comes through the neighborhood during the next two months. So after 60 days, there are two sleepers left that didn’t sell. Since the houses are essentially the same as the neighboring home that sold, it's not that the homes aren't properly priced. This is another scenerio that will cause a sleeper in this changed market.

And then some great homes are "sleeping" on the market because…well, there is just so much darned inventory out there!

But if you are sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers this past year throughout the north and east metro. In each case, nothing was happening on the property then BAM....we had 4-5 qualified parties interested in the home at the same time. In these particular cases, they weren’t the cookie-cutter variety either. One home in Washington County/Forest Lake area had a one-of-a-kind wooded lot and was in a perfect location. After months on the market, without an additional price reduction, over half a dozen serious buyers suddenly appeared. People were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even “pooh-poohed” the idea and mildly accused me of trying to get them of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting and I had several parties, buyers and agents alike, shocked, and more than a little miffed, that it was suddenly sold!

If the sleeper phenomena had happened only one time this past year, I would consider it a fluke but I have experienced this situation on homes in Chisago and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So homebuyers heed my warning, if you are on the fence watching a sleeper, now might be the perfect time to make your move...Or someone else might beat you to it!

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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