Is YOUR Real Estate Agent a Dabbler?

A decade ago, during the first big real estate surge, I was an agent. I started in the business a few years prior to when everything exploded. I didn’t become an agent because there was “easy” money to be made. I transitioned out of a corporate marketing job to help people through the complicated process of buying and/or selling a home. And when the going got tough, I didn’t hang up my license or take up a part time job for cash. I was a REALTOR® and in the business for the long haul. 

Once again the housing market is strong. And with the strong market come hundreds of new agents (and those dusting off their licenses that have been on ice for since 2007). These dabblers are jumping back into the real estate game. Often they start by contacting friends and relatives to “help” them as their first clients. Is your agent one of these real estate dabblers? 

Why it Matters 

One of the many things I have learned is that real estate is a business of continuous education and change. REALTORS® who are in it as a profession learn something from every transaction and apply it to their next deal.  A new agent or one who sells a home or two a year doesn’t have that bank of education to draw from.  This helps with negotiation when reviewing offers and writing an offer that will make the cut in a multiple offer situation. This is essential when assessing properties with a first time home buyer and determining the best list price for a property. 

My experience helping home buyers and sellers whether their move was during a down market or in this most recent upswing is invaluable to my clients. I put this knowledge to work to help them make the best decisions for their situation. In the past few months, my expertise has saved my client’s thousands of dollars regardless of whether buying or selling. Dabblers don’t have this expertise.

Who do you want on your side? A seasoned professional or a dabbler?

READY TO MAKE YOUR MOVE? 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 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 2016 terieckholm.com

Checklist to Get Your Home Ready to Sell in 30 Days

Home buyers are poised and ready to purchase in the Twin Cities but there is very little housing inventory right now. I am really surprised at how few listings I am seeing in the north and east metro right now. It is spring after all. And, spring is one of the best time to sell a home in Minnesota. 

Home buyers are ready, but are you? Preparing a home for sale is not an easy task but it can be done quickly if necessary. If the perfect place to move comes on the market next week, would you be ready to have your home on the market in 30 days?

I have several tips I share with my selling clients when I do a market analysis for a home. Many of my past clients refer to this as their check list of things to do to get your home in tip top shape before selling.  All are simple tasks and inexpensive ways to get your home ready so that first potential buyer is impressed. Following this list won’t take the place of hiring a professional home stager, but it does seem to get my seller’s on the right track to a quick sale.

Teri’s Tips for a Quick Home Sale

1. Pump Up the Curb Appeal—Jazz up the front entrance with a coat of paint and new hardware on the front door.  Remove any personalized signs or doorknockers. Trim trees, bushes and keep the walkway to the front door clear.  Once the weather is warm, invest in bright, colorful flowering plants to welcome visitors. 
2.  Prep the Kitchen—The Kitchen can sell the home so make it appear as large and inviting as possible!  Clean off counter and organize cabinets and drawers.  Store, pack or discard seldom used appliances and large pans. Large kitchen appliances should be in a matching color. Consider replacing the counter if worn or outdated. Replace dated faucets and light fixtures. 
3.  Update the Bathrooms—Bathrooms also can make or break a sale. Sometimes cleaning, painting and re-caulking is not enough to help a dingy bathroom.   Consider replacing a dated vanity, counter and sink. Look closely at the faucets and light fixtures. If they are dated, consider replacing.  A nasty discolored tub, might need resurfacing professionally or use a DIY product like Rustoleum. Likewise, the flooring needs to be scrutinized. If it is out of date or worn, replace. As a final touch, stage the room with colorful floor mats and fluffy coordinated towels to make cozy.
4.  Reduce Clutter—Sort out EVERYTHING! Throw away what you don’t need and pack the rest. Too much stuff? Consider an off-site storage locker or pod during the move. Donate unwanted items to charity. If you have big “toys” like a camper, boat or classic car, consider storing at another location until after the move. 
5.  Clean Inside and Out!—Your home needs to be spotless and smell wonderful. This goes for the garage and yard too. Don’t just dump everything from the house into the garage. A buyer will want to assess the size of the garage and won’t be able to do that if it is too cluttered. If you have pets, the yard, litter box and cages, must be clean and odor-free for every showing. 
6.  Paint—Light and neutral colors will make smaller rooms appear larger. Personalized painting of children’s names or cute designs should be painted over prior to the first showing.  Remove any wall paper. Almost every buyer I have worked with groans when they see wall paper in a house. Use premium quality paint, patch holes properly and tape woodwork prior to starting. A sloppy paint job is counterproductive and can hurt your bottom-line. 
7.  Make Minor Repairs—Tighten knobs, fix leaks, oil squeaks, replace dirty filters, repair cracked windows and holes in screens. Anything that can be fixed, should be fixed. Buyers will not pay top dollar for a “project house”. 
8.  Fix a Leaking Roof—Buyers look at ceilings for water stains. One small stain could cause a buyer to question the entire roof. Find and fix the leak at its source. This might be the time to call in a professional.  Make sure to have a permit for the work whether DIY or professional roofer. Repair any ceiling damage and be prepared to fully disclose the work done. 
9.  Explain a Wet Basement—Do what you can to make repairs and minimize moisture in the basement. Be prepared to fully disclosure any water intrusion issues past and present. 
10.  Exterminate—Call a professional to get rid of any rodent or insect intrusion. One bug, alive or dead, can scare away a potential buyer. If you get periodic mice in the home, remove traps and bait before showings. Again, honestly and fully disclose any pest issues to potential buyers before the sale.

Need more help to sell your Minneapolis/St Paul Home? 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 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 2015 www.terieckholm.com 

Good Time to Buy a Home? Terrible Time? That is a GREAT Question!

Several ads are running in all forms of media lately about what a great opportunity it is to buy a home right now. It’s hard to turn on the television, radio or computer without being exposed to an advertisement from the National Association of REALTORS® announcing the expiring tax credit and why this is a once in a lifetime opportunity to buy a home. But is it really a good time to buy? Yes, but maybe not for everyone.


Here are a few facts about the current Twin Cities real estate market:

1. There are many affordable homes across the Twin Cities metro area.
2. Interest rates are still historically low.
3. And, there is that $6500-$8000 tax credit that is going to expire very soon.

But do these reasons alone make it a good time to buy a house?

I ran into an old colleague of mine in a Forest Lake parking lot earlier this week. We used to work for the same real estate broker a few years ago and chat from time to time. This day was no different. After the initial hellos, the conversation drifted to the real estate market. He is not selling much these days as he hates working as an agent in this market. He doesn’t think it is a good time to buy for most buyers. However, he did make a couple of personal investments this past year, choosing to ride out the market by taking advantage of the foreclosures in northern Washington County and rehabbing them for resale. He offered his view of the market as a “terrible time to buy for a first time buyer”. When I questioned his logic he said, “First time buyers have to compete with buyers like me. There were seven offers written in a few days on one of the homes I purchased. I didn’t finance the home. I could close in a week for cash. How can a first time buyer ever compete with that?”
How indeed! That is a good question. But then again I have talked to two other investor/agents this past year with a different view of this current market. These guys were rehabbing homes long before the market took a dive. They paint a picture of the market as a terrible time for a rehabber to buy a home. First time buyers and first time investors are driving up the prices on bank owned properties so they cannot buy at a reasonable price to turn a decent profit.

I find it interesting that three people who have all worked in real estate for years have such differing views on the current housing market.
So, do I think NOW is a good time for a homebuyer to buy?
First, let's turn back the clock a few years to the late 1980’s when my husband and I purchased our first home. According to history, it was a terrible time to buy a home…but we didn’t know any better. We needed a place to live and didn’t want to rent. Interest rates were in double digits at the time and we still had student and car loans so what we could afford versus what we wanted was not quite in line. We ended up purchasing a house from relatives by assuming their 9%, 15 year loan.

We purchased at the time not because someone said the real estate market was good or bad but because it made sense for us to buy rather than rent. We didn’t buy our “ideal” home, we bought an adequate starter home that we could afford. We knew we wouldn’t live in this home forever but it was priced fairly and it was a place to start. We lived there for eight years. Though it wasn’t a good time to buy for many home buyers, the purchase made sense for us.

Many people will be rushing to write a purchase agreement in the next month in order to take advantage of the expiring homebuyer’s tax credit. That should not be the ONLY reason to buy a home. Buying a home in any market is a personal decision and whether it is a good time to buy will really depend on the buyer, the home, the price and what happens in the future. While no one has a crystal ball on the future, a good REALTOR® and loan officer can help potential buyers determine if NOW is a good time to buy depending on their unique situation.
So...In my opinion, it really IS a good time for many people to buy a home…but might not be the right time for all.
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 , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. 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 2010 Teri Eckholm 

October Video Update on Twin Cities Real Estate Market

I came across this market update posted on YouTube from the Minneapolis Association of Realtors which is a very good explanation snapshot of condition of the Twin Cities real estate market today. It is cautiously optimistic about the housing market conditions this fall. Take a look...









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

Smashing Pumpkins--An Alternative Housing Mantra?

Okay, I am not a metal-head but I do enjoy alternative rock from time to time and have teenagers so 93X is one of the preset stations on our family vehicle. Yesterday, while driving through Forest Lake, MN and flipping stations away from the annoying recorded political ads, I paused on the rock station and heard these lyrics: “Despite all my rage I am still just a rat in a cage”. It was the chorus so the mantra was repeated a few times. Although catchy, I know from experience, the rest of the song might not be as lyrical so I laughed as I switched the station, but the line stuck in my head.

It started me thinking about all of the rage I have been hearing lately. Not teenaged angst but rage at the housing market. It’s in all the papers and on the news, hundreds of thousands of people enraged at the current financial crisis and the housing/mortgage mess that was the catalyst of it all. I get calls from potential home sellers who are frustrated when they hear the number in their market analysis and realize their homes are not worth as much as they thought. There are homeowners contact me angry at the low value received on an appraisal for a refinance and wonder where these numbers are coming from. There are upset foreclosure buyers who didn’t do their homework prior to closing on a “deal” and realize the “As-Is” bargain of a property has problems that were not fully disclosed. And there are those homeowners who are panicked, frustrated and resigned at the reality of being foreclosed upon.

So I started thinking, maybe these alternative rockers are on to something here. Because despite all the rage that surrounds us, many people are feeling caged in a situation they cannot control.

When I reached my office, the first thing I did was Google search the lyrics and discovered The Smashing Pumpkins and their song, “Bullet with Butterfly Wings” was the catalyst of my muse. (October is the perfect time to showcase the song of a band with the name Smashing Pumpkins too, don’t cha think?) According to Wikipedia this song was a Grammy award winner in 1997, but this part of the song lyrics speaks to me a decade later regarding the financial situation of today. It was very ironic that the chorus also included the line, “someone will say what is lost can never be saved”. How profound. Consider this, some seniors facing retirement will not have time to wait out the current financial crisis for their biggest investments: real estate, usually the family home and the stock market, usually in a 401K or mutual fund to comeback. What has been lost cannot be saved.

So as rats in our cages, what can we do? It’s time to rethink rather than be enraged. Anger does not solve any problem. We need to refocus; to shift our way of thinking. Pick up that much acclaimed self-help book, “Who Moved My Cheese?” and change how to think about your life.

• Sellers forget what you think your home is worth…It is only worth what a buyer will pay today.
• Buyers need to do their homework with their REALTOR® and trusted mortgage professional to find the right home and right loan.
• Homeowners facing foreclosure cannot stick their heads in the sand. Take a realistic look at your situation and contact professional agencies to come up with a solution that fits your specific needs.
• Buyers looking at foreclosures and short sales need to be patient and do their due diligence on every purchase because some of those bargains have “skeletons-in-the closet”.

Rage and anger gets us nowhere. It is impossible to move forward if you are angrily looking in the rearview mirror. Look at where you are today and make a move to pull yourself out of that financial cage you feel trapped in. The sooner you assess your current situation and make moves to change and improve it, the sooner you will recover from the crisis. By taking one positive step at a time, one person at a time, we as a nation will find a way out of this crisis.
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

Forest Lake, MN Real Estate Market Statistics Third Quarter 2008

Forest Lake, Minnesota in the northeast metro Twin Cities area holds a special place in the hearts of many Minnesotans. Many residents of Minneapolis, St. Paul or one of the first ring suburbs will remember Forest Lake fondly from decades ago as a summer vacation spot or place to go for a drive in the country. Today, the lakeside cabins have been replaced with year round homes and the rural nature is all but a thing of the past in this thriving St. Paul suburb. Though housing growth has slowed down drastically in the past year or two in many northern suburbs due to ever increasing gas prices, Forest Lake is holding its own.

Real estate in Forest Lake, MN in north Washington County and east Anoka County continues to sell but slowly. The Days on Market (DOM) Statistic is currently running at about 167 days for all homes sold. When the six month numbers showed area homes had stayed on the market an average of 211days, this is welcome news.If we look at sold homes in the under $300,000 category the absorption rate is at a 7 month level which is down from 11 months at mid-year and significantly lower than the first quarter 24 month high. Summer weather for selling lakeshore may have contributed to this lower statistic. But high end homes continue to struggle for sales. Only eight homes sold in the 3 summer months in the $400,000 plus price category. Currently, the Forest Lake community sits with over 4 years of inventory when factoring in the sales of the first three quarters sales on high priced homes. Great homes at amazing prices are out there on lakeshore and acreage properties. With this much inventory, sellers will be forced to consider offers and be flexible when negotiating if they NEED to sell their home. However, it is an ideal time for and astute buyer to negotiate a GREAT deal on a lakeshore home!

Lakeshore opportunities are abundant in the Forest Lake area! There are more listings than ever before at incredible prices too! The inventory levels are awesome…49 lakeshore homes currently active. Many have been on the market for a quite a while. With continued low interest rates, it is a great time to negotiate a deal on your piece of Minnesota shoreline!

Mid Year 2008 Forest Lake real estate statistics for single family homes:

Under $300,000~ 86 Active Listings, 6 Pending Listings, 38 Sold Listings, 164 DOM (Lakeshore Subgroup ~ 5 Active, 0 Pending, 0 Sold)

$300,000-$400,000 ~ 32 Active Listings, 2 Pending Listings, 8 Sold Listings, 175 DOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 17 Active Listings, 0 Pending Listings, 4 Sold Listing, 138 DOM (Lakeshore Subgroup ~ 8 Active, 0 Pending, 3 Sold)

$500,000 and Up~ 35 Active Listings, 2 Pending Listings, 4 Sold Listings 231 DOM (Lakeshore Subgroup ~ 30 Active, 1 Pending, 4 Sold)

Lakeshore available in the Forest Lake area:

49 Active Listings, 1 Pending Listings, 7 Sold Listings

Forest Lake lakeshore price range: $210,900-$2,100,000

43 Homes on Forest Lake

3 Homes on Clear Lake

1 Home on Shields Lake

1 Home on Heims Lake
1 Home on Comfort Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/08 through 9/30/08.

Articles on Forest Lake, Lakeshore and Minnesota that might be of interest:

• Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
• Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
• Extremely Affordable Minnesota Lakeshore!
• Relocating to Forest Lake MN? The Schools are Full of Ranger Pride!
• Forest Lake, MN Real Estate Market Statistics Mid Year 2008
• Wyoming, MN Real Estate Market Statistics 3rd Quarter 2008

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

Home Shopping with Teens—Get Ready. They WILL Voice their Opinions!

It is a great time to buy a home in Minnesota. As a Realtor working in the north Twin Cities metro, I see awesome homes at great prices coming on the market everyday. There is an abundance of homes in the $300,000 plus category from Ham Lake to Forest Lake and everywhere in between. Whether you want a two story on acreage or a rambler with lakeshore there is something for everyone. And people are able to negotiate some very attractive deals. So as a family we started thinking, this might be time to make a move.

Now the last time we relocated, the kids were toddlers and offered very little opinions on the homes we looked at. As long as we assured them that their Little Tikes, Hot Wheels and Duplos were coming, the house was just a box to keep the playthings in.

Flash forward to today and we have an entirely different situation. Our young adults who are usually in a music-induced stupor and non-talkative when it comes to family outings, take the earbuds out and fully participate in the discussion of possible new houses.

Here’s an example of one such conversation with my teenager…

“There it is up there. It looks very nice. Nice lot. Interesting design.”

“You mean that big ugly GREEN house?”

“That’s just the siding color. It is beautiful inside. I have seen the photos!”

“But it is GREEN!”

“So you live on the inside of the home.”

“Look at all the other homes in the neighborhood. They are tan. We are going to be the house that everyone uses as a landmark, you know, ‘turn right at the ugly green house’!

“It’s not ugly green. It is a very lovely sage green”

“Mom, I don’t know what sage is but I if it is anything similar to the color of puke, I would agree!”

Okay…so my husband didn’t like the wetland so near to the home so the lovely sage green house is out. We will continue to look. But my experience with young adults tagging along and voice opinions is not limited to my own kids. Several of my clients have had young adult children accompany them on house shopping excursions lately. Some of their voiced wants, needs and demands are priceless:

• “You are not seriously considering moving us to this dump are you?”
  
• “I vote for the home with the swimming pool!”
  
• “It’s in the middle of NOWHERE!”
  
• “This one is great! We can build the wet bar here and put the pool table there.”
  
• “So why can’t we have the big bedroom with the walk-in closet and private bathroom? It makes sense if you are going to make us share a room.”

And if you think watching a toddler at a home showing is tough, try an inquisitive teenager.

• “I wasn’t touching anything. I just opened the door of the clock to see how it works!”

Most families want their teenagers and young adult children to be onboard with the move. If the kids are not working with the parents, passive aggression could rise to the surface. Bedrooms will never be cleaned when there is a showing on your existing home. Dishes will be left in the kitchen sink and dirty towels on the bathroom floor of your perfectly staged home.

I understand that every family has to negotiate and find middle ground. But parents have to remind the kids who will be signing the purchase agreement and making the payments on the new home. The parents have the final decision on the house.

Of course, that doesn’t mean that we parents won’t hear our young adults’ opinions loud and clear—but as we are changing a world that they believe revolves around them, that’s to be expected. Right?

If you are buying, selling or relocating to Minnesota (with or without teenagers) 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/

Minnesota is In a Buyer’s Market—So Let’s Give a Lowball Offer!

In Minnesota, we are currently experiencing a buyer’s market. There are many more homes for sale than buyers in the Twin Cities market right now.

As a Realtor working in the northeast metro, I can pinpoint homes in neighborhoods throughout Anoka and Chisago Counties that haven’t sold after being on the market for several months. Communities north of the Forest Lake and Ham Lake areas that were booming a few years ago, like Stacy, Linwood and North Branch are experiencing a tremendous slow down. From Hugo to Lino Lakes, acreage properties and lake homes aren’t exempt from the slowdown. There are hundreds of choices for first time buyers and move up buyers alike. Buyers looking in these markets have the upper hand and can offer anything right? So why not go in with a lowball offer and see where it goes?
My position on the subject of lowball offers hasn’t changed with the market. It has been and always will be, “How much do you want the house?”
There are times where a low offer makes sense and times where it can blow up in the buyer’s face. If you are willing to walk away from the home and there are several others homes you can go to, a low offer on a home could work for you. If this is your dream home and you have few options, listen up. It might be a mistake to go in too low.
Though a seller may desperately need a buyer and be willing to consider all offers, it was still their “home” with all of the emotions that go with it. They may have raised children there, worked the garden, put in the tile floors, redid the kitchen, etc. There are going to be emotions tied to the property and even after being on the market for months, a seller could be incredibly insulted by an extremely low offer. Insulted people can do irrational things, like not bothering to counter offer at all.
Now, I am not advocating paying full price on a home in a buyer’s market. This IS the time to get a great deal on a home and some houses are incredibly overpriced. But if you really want a particular home, what do you do?

Work with your Realtor to figure out what the home is worth and write an offer that reflects that analysis. As an experienced agent, I work with my clients to find the right starting point for an offer that might not be accepted as written but doesn’t offend the seller. Be prepared to discuss what needs to be done on the home with estimates for the repairs to justify the offer. As a skilled Realtor, I am able to present my clients’ offer in a positive light so there will be a Win-Win negotiation for all parties involved.

There are times when the Lowball offer works:

• Corporate owned Relocation Home



• Bank-owned Foreclosed Homes



• Investment homes used as Rentals



• Flipped Homes

In these cases, the sellers are business people. There is little or no emotional attachment to the property. It is all dollars and good sense. This is the perfect time for a “low ball” offer to see where their bottom line really is. Beware on the flipped home though. If it is a first flip and a labor of love, the owner may have developed some emotional ties to the property and they too could be offended by an extremely low offer. Even in a buyers market.
If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2007 terieckholm.com

Twin Cities Market Affordability is Improving--March 2007 Update

According to a press release this week from the St. Paul Area Association of Realtors (SPAAR), real estate is becoming more affordable in the 13 county Twin Cities metro area. This is due to predicted market correction which is a cause of concern to some homeowners who hoped property values would continue to rise indefinitely. Reality has hit with the slowest start in home sales in the past eight years. For the 7th month in a row, the Twin Cities has seen the median price of homes closed drop in comparison to the previous month.

Properties are staying on the market for longer periods of time and the housing inventory levels remain high with over 27,400 active homes on the market as of March 1. This is up 9.27 percent in just one month. But compared to last year's numbers, the statistics are relatively unchanged. 

The National Association of Realtors (NAR) released news of its own yesterday, predicting that a recovery of the housing market is likely but the timing is hard to predict. Recent problems in the sub-prime lending market and unusual weather patterns are pointed to as some of the reasons for the inability to forecast an upswing. A 1.2% projected rise to the median existing home price is bringing the median value to $224,500 this year and even stronger gains are predicted for 2008. 

It's not all gloom and doom on the horizon for the housing market. In a buyers market, prices are being adjusted by sellers to intice buyers. After years of exploding house values a little market dip or flatline should not be too concerning to the average homeowner.

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007