Minnesota Homes

Short sales and forclosures still continue to play a major role in todays housing market.  No matter what price range you are looking in, there will probably be a short sale or forclosure that you will walk through.  Some of these short sales are in great condition, others need work.  In either case a buyer should be able to get a great deal on a good house.  If the home needs work, the price should reflect that.  And just because a home is listed at a price that you might think in high, don’t let that stop you from writing up an offer.  I have personally written many “low ball” offers that have been accepted.  The worst thing that can happen is that they say no.  And it is not the homeowner that is saying no.  It is the bank.  There should be no hard feelings if the potential buyer offers a low price.  If the home continually receives low offers, the bank should realize that the home might not be worth what they think it is worth.  A home is worth only what someone is willing to pay for it.  And if multiple buyers show through the offers that the price of the home should be lower, hopefully the bank will realize that.

If you have any questions about short sales or need more information you can call me.  Chad Anderson, 612-269-5260

It is no secret there are still a lot of homes on the market. If your home in on the market, you need to make sure that you do everything possible to have your home stand out compared to other homes that are for sale. Make sure that you take every showing seriously. You never know which showing could be the one that sells your home. Don’t leave any trash out or clothes around the home. Even though people can sometimes see past the trash and mess, it might not give the best first impression.

Short Sales continue to play a huge role in the housing market today.  I have been showing a lot of short sales or homes subject to bank approval.  As a buyer you need to be educated right away with what a short sale is.  I recently took a client out to look at homes between $200,000 and $250,000 and half of the homes were subject to bank approval.  I made sure to educate my client on what to expect from a short sale, and the ups and downs of getting involved in the short sale process.
With so many short sales on the market you cannot shy away from them. You might get a great deal through the process.  Sometimes this process can take up to 3 months to finally get an answer from the bank and another month to close on the home.  In the end, the buyer should be able to get a pretty good deal on a home.

Not all short sale home are in bad condition.  Sure some of them are, the person living in them takes everything with them, the appliances, kitchen cabinets, anything they can.  Some however are in good shape.  The homeowner is still living there and the home is in great shape. 

If you have any more questions about short sales you can call me at 612-269-5260

Interest are down, making buying a home more affordable for a lot of people.  I am seeing a lot more first time home buyers out looking for a new home.  The combination of lower home prices and lower interest rates make it a great time to start looking for a new home.

If you are a buyer you are probably noticing all of the homes that are in forclosure or subject to bank approval.  When you are looking make sure to ask if the home is subject to bank approval or not.  If it is be prepared to wait a while for an answer.  It may take a while to get a final answer, but you will probably get a great deal on a home.

Short sales continue to be a big part of today’s housing market.  You may be hearing the terms short sale, subject to bank approval.  Short sales are becoming so prominent in today’s market that agents with note that it is NOT a short sale and not subject to bank approval.  If you are thinking about getting involved in a short sale be prepared for a long ride.  Sometimes if a buying comes it at the very end of negotiations the answer might not take very long.  If your offer is the first offer submitted to the bank it could take  up to five months to get an answer.  And it might get frustrating to be one of the first ones in with an offer and have to wait months for an answer, and the whole time there are more offers that come in, a lot of times driving up the price.

A great new townhome to the market is located in Rosemount at 13817 Atwood Avenue.  It has 2 bedrooms and 2 baths and a 2 car garage.  It has 1510 finished square feet of living space.  What sets this townhome apart from others in the area is the great unobstructed view from the front porch.  Nothing will ever be able to be built.  There are also extra parking spots for guests.  Check out the virtual tour!

When selling your home the outside appeal is the first thing that people will see. That seems like an of course statement, but many people don’t take it so seriously when they are trying to sell their home. First impressions are everything, so as a seller you need to make sure that a potential home buyer is not turned off by the curb appeal of your home, or lack thereof. It dosen’t take much to clean up the outside of your home. Make sure that the lawn is mowed and the grass is trimmed around the edges. Water all of your flowers so they look healthy. If you have any over grown bushes you need to trim them. Even if they are not that bad it is a good idea to freshen them up. Potential home buyers like to see that the currrent homeowners are taking care of the home. It can make the home more appealing to them. Also make sure to pick any and all weeds and sweep off the front step and driveway. Buyers can be picky in todays market. Make sure that they pick your home.

Short sales continue to be a major player in todays market in the Twin Cities area.  Many homebuyers are trying to buy a home that is in a short sale.  A short sale is where the homeowner owes the bank more than they can sell their home for.  Many buyers are trying to get good deals on these homes.  Buyers can get good deals, they just have to be patient.  Banks have been flooded with short sales and forclosures, and don’t have enough staff to keep up with the demand.  Some short sales are taking up to 2 months to get an answer from the bank.  The whole time the home stays on the market, so there will probably be more than one offer that is presented.  If you are a buyer in the early stages of a short sale, expect to wait, and expect there to be multiple offers.  Most short sales are priced so there are a lot of interest in the property and hopefully more than one offer.  If you are thinking about offering on a home that is in the short sale process, be prepared to get a good deal if you are willing to wait.

The Minneapolis Area Association of Realtors has announced that there are fewer listings per buyer than in the year past.  The supply-demand ratio is down to 8.11.  That means that there are 8.11 homes to every buyer.  That is down 1.6% from June of 2008.  Total inventory is also down to 33,425.  That is a decline of 3.5% from one year ago.  This means that the buyers have fewer homes to choose from.  This number will have to continue to decrease in order for the market to stabilize.