June was a busy month for SPAAR President and Snyder Team leader Jennifer Snyder. “In addition to it being ‘that time of year’ when families want to get moved and settled before the new school year, buyers feel that we have finally hit the bottom in terms of affordability,” she said.

Snyder’s sentiments are reflected in statistics released last week for the 13-county Twin Cities metropolitan area. While new listings are down, pending sales are up—nearly one-and-a-half times what they were over last June’s post-tax credit slump.

“Properties that are priced appropriately for the market are moving,” said Snyder. “Listings at all different price points are selling—and in a couple of cases it’s even getting tricky to find the right inventory for a specific buyer—a good problem I haven’t experienced in a while,” she said.

When combined with record affordability, the 5.5% decline in new listings and a 15.9% decrease in inventory add an element of urgency buyers haven’t experienced in some time.

The flow of financially distressed properties onto the market appears to be slowing, and those on the market are selling. Foreclosures and short sales accounted for 38.2% of all sales, the lowest level since June 2010. 

For more details, look at these June statistics: THE 200+ I HOUSING SUPPLY OVERVIEW

Go to your typical real estate website.  What do you see?  Listings.  Lots and lots of listings.  Or in other words, sellers.  But what about the buyers?  They play just as important of a role in a real estate transaction.  RE/MAX Results understands this and is reinventing how we sell real estate.

Results.net, the RE/MAX Results website, now has Buyer Listings.  Sellers, whether they are on the market or even contemplating being on the market, can visit Results.net and search for active buyers who are currently under contract with RE/MAX Results. Simply enter a few pieces of information about the home you’d like to sell such as bedrooms, bathrooms and neighborhood or school district. Press the “Find Buyers” button. It will show you the matching buyers.

Visit Results.net today and check out this groundbreaking feature.  Are you interested in being added to the Buyer Listings?  Give us a call or send us an email today to learn more about it!

~Information from Marshall Saunders, Owner/Broker of RE/MAX Results.~

Every month brings home maintenance projects to keep your home in tip-top shape.  Here’s what you need to do in June to keep your home beautiful for years to come!

• Paint interior or exterior as needed.
• If you have wood decks, check them for signs of wear or deterioration.  Repair or replace as needed.
• Clean and seal decks.
• Check exterior railings and stairs.  Repair if they are loose or showing signs of wear.
• Service furnace or heating system.
• Make sure attic vents work properly. 

Do you have any tips to make these home maintenance projects easier?  We’d love to hear about them in the comments!

The annual Spring Parade of Homes starts this weekend.  Builders throughout the Twin Cities and Western Wisconsin showcase their latest designs.  This season there are over 340 homes to tour and be inspired by. 

The Parade starts this Saturday, March 5^th and goes through Sunday, April 3^rd.   The model homes are open every Thursday through Sunday from 12-6pm.  Pick up a guidebook with all the locations at your nearest Holiday Station Store. 

Will you be checking out the Spring 2011 Parade of Homes?

Every month brings home maintenance projects to keep your home in tip-top shape.  Here’s what you need to do in February to keep your home beautiful for years to come!

• Make a list of major indoor projects that need to be done.  Prioritize them so you can get the most urgent out of the way before the garden and yard (and warm weather) claims your attention.
• Check and clean grout between tiles in your kitchen and bathrooms.  Re-grout if necessary.  Add sealer to finish.
• Check flooring and carpet.  If it needs repair or replacement, take advantage of sales now.

Do you have any tips to make these home maintenance projects easier?  We’d love to hear about them in the comments!

According to a National Association of REALTORS® survey released in January 2011, home owners and renters agree that home ownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy.

The American Attitudes About Homeownership survey found:

• 95% of homeowners and 72% of renters believe that over a period of years it makes sense to own a home.
• Despite the downturn in the economy, 93% of homeowners would buy a home again.
• More than half of owners (56%) are “very” or “extremely” satisfied with the overall quality of their family life, only 36% of renters report the same levels of satisfaction.
• 63% of renters say they will purchase a home sometime in the future.
• 18-24 year olds have the strongest desire for home ownership.

Even during this rough economic cycle, homeownership is still desired by most people.  The benefits of owning a home just outweigh any negatives.  This survey shows there will also be people looking to own a home.

~Information from the National Association of REALTORS®~

Renovating your attic is a financially smart decision and can be an inexpensive way to add living space to your home. Our friends Robert, Nancy and Brian at Pillar to Post have six great attic renovation tips to share. 

1.  Plan carefully.  Remember that the order in which inspections must be obtained will dictate your schedule. Think through every aspect of both the design and the project, consider possible challenges, and devise plans to overcome each challenge.

2.  Design the space for the type of room.  The way you design and remodel the space will vary with the uses you plan for the finished room. For example, a bedroom may have different requirements than a playroom.

3.  Plan access to the new room(s) carefully.  Creating access to the new space is challenging in some homes. If you are trying to reduce costs for your project, you will want to find and construct the stairs in the best point of access and in a way that involves the least modification of the existing structure. You will also need to check local building codes with reference to exit points.

4.  Decide how you will work with the slope of the roof.  This is an important aspect of planning, and it will affect your cost and the appearance and functionality of the new room. Do you want a pitched or a cathedral ceiling? How will you construct it? How will you install adequate insulation?

5.  Remember that ventilation and insulation are critical.  Remember that heat rises. Attics can become very warm. You will need to plan for adequate ventilation and insulation to keep the room comfortable without drastically increasing your heating and cooling costs. Also, consideration must be given to the space between the roof deck and the new finished surfaces so that heat & moisture is properly ventilated from that space.

6.  Plan for wiring and plumbing well in advance.  Electrical wiring and plumbing can present unique challenges in attics. You will need to ensure that the flooring does not rest on any wires. A bathroom will cost less if placed in close proximity to another existing supply and drain line.

For more tips on attic renovation you can contact Pillar to Post at 651-578-1672 in Minnesota or 715-377-1949 in Wisconsin.

We have a guest blogger today!  Vince Hunt a Senior Mortgage Consultant with Prime Mortgage has some great information concerning VA loans and why it might be a great option for you.

Unless you have 20% down or more, the VA mortgage is hands down the best deal out there.  The VA loan is an entitlement that the veteran has worked for, just like the G.I. bill for schooling or health care benefits.  So, it’s a good idea to use it.   It’s basically the last truly 0% down loan available.  There is a funding fee that goes to the VA that is rolled into the loan and in some cases this may be waived if the veteran was disabled.  There is no monthly mortgage insurance premium, the rates are fantastic (about the same as conventional or FHA rates) and the qualifying is slightly easier than conventional loans. 

Depending on the purchase price of the home, the veteran has to come up with the earnest money of typically $1,000.   The veteran would then typically receive a refund of around $200 or so at the closing.  $800 to buy a home is fantastic!  The current loan limit for MN and WI is $417,000.  You have to qualify based on credit and debt to income, but the underwriting is typically more lenient than conventional underwriting.

If you were an active duty service member that is currently active or was honorably discharged you be eligible  Also, if you were in the reserves for six years or longer you may be eligible for a VA loan.  To ensure eligibility call Vince at 612-825-1300 today.  All you need is your DD214 (discharge papers) and your certificate of eligibility.  To get a copy of your certificate of eligibility or to learn more about VA loans, simply click here. 

Washington County also saw an increase in year over year median sales prices.  From December 2008 through November 2009 it was $190,000.  December 2009 through November 2010 saw the median sales price increase 2.6% to $195,000.

While every city and neighborhood is different, this shows home values are increasing through Washington County.  This helps homeowners who want to refinance and sellers who are ready sell.  This also shows homeowners with no intention of selling their investment is growing.

Every month brings home maintenance projects to keep your home in tip-top shape.  Here’s what you need to do in January to keep your home beautiful for years to come!

• Replace drawer liners and shelf papers.
• Wander the home with a screwdriver and make a list of minor household repairs that can be done in a weekend.  Tighten screws on drawers, door, and furniture.  Make a list of broken electrical face plates, missing pulls or knobs, locks that need lubrication, and spots that need caulking around sinks and tubs.  Go to the home improvement store and buy everything you need to make all of your repairs at once.
• Call the utility company to do an energy audit.  See if there is anything you can do to reduce your bill.

Do you have any tips to make these home maintenance projects easier?  We’d love to hear about them in the comments!