Data Supplied by the Regional Multiple Listing Service Inc.

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?

Monthly Skinny Video February 2011

The video is also offered in Spanish for our relocation friends!

Monthly Skinny Video February 2011 ~ Spanish

Home Sales were up in January 10.4 percent from a year ago and were the highest January total in the Twin Cities since 2007. “We’ve had back-to-back months where sales have outpaced our expectations,” said Jennifer Snyder, our team member and president of the St. Paul Area Association of REALTORS®.

In January in the Twin Cities, there were 2,209 sales compared to 2,001 sales a year ago, an increase of 10.39 percent. January and February are traditionally the slowest months of the year for home sales in the Twin Cities. “We have seen an uptick in sales activity and activity in the market in the last two months,” Snyder said.

Median prices were down 10.8 percent from last year to $140,000, from $157,000 last January. “We saw sales down last year, but prices increased slightly. We may be seeing a shift of increased sales activity tied to prices adjusting,” Snyder said. “Especially in the winter months, there are buyers looking for bargains, and the price decrease likely reflects an increase in sales of foreclosed properties and other distressed properties.”

The median is the mid-point. Half the homes sold for more, half for less. Numbers reflect the 13-county metro area and include single-family, condominiums and townhouses.

~SPAAR Press Release February 11, 2011~

Sellers often believe the best time to list their home is in the spring.  It’s traditionally considered the hottest time for the real estate market.  Buyers are out in force looking to move in warmer (but not hot!) weather and in time to get children registered for school.  When sellers think spring, they usually think May or June.  However, that is not when the spring market gets rolling.

March is actually the kickoff to the spring real estate market.  Buyers don’t want to rush finding a home.  They want to have time to find the right house.  Beginning a search in March allows them that time without house hunting in cold conditions.  Those that were looking in the winter are even further along in the process.  The biggest buyer pool begins in March and sellers don’t want to miss out on that.

There are a few other reasons March is the start of the spring market.  Relocation clients begin to enter the market at a higher rate.  Tax season creates more buyer demand.  Overall people are moving from hibernation mode to do-something mode. 

So, if you’re ready to sell your home now is the time to start preparing.  Get your house in showing condition and call a Realtor today.  You will be primed for the spring real estate market.

In an effort to boost the real estate market, FHA has extended its 90-day seasoning waiver.  What does that mean?  If an investor purchases a home with plans to fix it up and then sell it, he or she does not have to wait 90 days before listing the home for sale.  The purpose is to encourage more investors to get in the market and to provide more options for buyers.

There are requirements that must be met for the waiver to be allowed.  For example, all transactions must be arms-length.  There can be no identity of interest between the buyer, sellers, or other parties involved in the transaction.  There are also rules relating to sales price, marketing, and title.  The waiver applies to sales contracts executed between February 1, 2011 and December 31, 2011.  The waiver can be extended or withdrawn at any time. 

It is important to note that the extension of the waiver does not guarantee transactions will go smoothly.  Individual underwriters may not approve loans for homes being sold in such a quick timeframe.  We would recommend that sellers wait 90 days after a purchase before marketing it for sale to ensure a better transaction for all.

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!