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.~

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.

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.

The snow is here and so are the cooler temps.  It’s almost winter.  This time of year we always get the question, “Should I wait until spring to sell my home?”  For some sellers, the answer is yes.  But for many others the answer is no because now is a great time to sell your home.  Here are 5 reasons to sell your home in the winter:

1.      The buyers out looking are serious.  You don’t get many “tire kickers” browsing open houses or braving the snow.  If they’re seeing your house in the winter they want to buy soon.

2.     You have access to an extended buyer pool.  The holidays bring out of town buyers into the area that normally wouldn’t be here.

3.     You have less competition.  Lots of sellers either take their home off the market during the winter or simply wait until spring to list.  Less competition usually means more offers for sellers on the market.

4.     Interest rates are lower.  This encourages buyers to get out and look.  It also increases the seriousness of the buyers looking.

5.     Selling on your time table.  If you are thinking of selling, there is most likely a reason.  You don’t want to wait to list your home if you’re ready to move on.

Are you ready to sell your home?  Give us a call or send us an email today and let us help get you started!

Monthly Skinny September 2010

One of the best places to enjoy the outdoors is in your own backyard.  Here are 6 ways to improve the enjoyment factor of your yard…and maybe increase the value or sale-ability of your home.

1.  Build a deck.  It increases living area for a minimal amount of cost per square foot.  Just make sure to plan it all out before beginning.  (Click here for an older post on deck building.)

2.  Add a gazebo.  It adds shade, shelter, and visual interest whether attached to a garden wall or freestanding in the yard.

3.  Put out planters and/or window boxes.  They add color and can be moved (depending on the type) for seasonal weather or simply a scene change.

4.  Place a picnic table on the patio, deck, or even under a tree.

5.  Place a trellis in the yard.  It can be the start of a hanging garden or as a sunscreen on hot summer days.

6.  Create a trash bin corral or compost pile.  You can hide unsightly trash cans or simply green up your yard in a more visually appealing way.

~Info from HouseLogic.com and Business Wire~

Curb appeal is a very important element of homeownership.  It can make or break the first impression of the home.  It can impact value.  And if you’re trying to sell your home, it can determine how fast your home sells.

Here are 6 tips for adding curb appeal to your home:

1. Have the home washed or painted.  A professional power washing or do-it-yourself one can brighten the home with just water.  It will also remove unsightly items like cobwebs.  For stucco or wood sided homes, painting may be the only option for cleaning up the home.

2.    Trim the shrubs and green up the lawn.  Make sure to fertilize, add grass seed when necessary, and keep landscaping tidy.

3.  Add a splash of color.  You can do this with a flower bed, a new front door, or colorful lawn furniture.

4.  Update your mailbox and house numbers.  A new address plaque or an upscale mailbox is an easy way to modernize without spending a lot.

5.  Repair or clean the roof.  The roof is one the first things that guests or buyers notice.  Make sure it is in good condition and clear of moss or stains.  Due to the danger involved, it may be a good idea to hire a professional to do the job.

6.  Perform routine maintenance and cleaning.  Things like hanging or clogged gutters and missing bricks detract from the overall look of the home.  They’re also red flags for other deferred maintenance. 

~Information from HouseLogic.com and Pat Curry~

It’s June and wedding season is in full bloom! The happy occasion often means figuring out what to do with two houses.  For most couples that means deciding which house to sell. 

There are several factors that need to be determined before making a decision.   Here is a list of questions to ask to make the process a little easier.

• Which house is closest to each person’s work location?
• Which home has the greatest amenities?
• Which house has the lowest property taxes?
• Which floor plan is better suited to meet the needs of each person?
• Which home is closest to friends and family?
• Which house is closest to favorite activities?
• Which house will require the least amount of changes or improvements to make it fit your style and personal needs?
• Which house has the best access to schools?  (No kids or plans for kids?  Skip this one!)
• Which home has the lowest balance or principle due on the mortgage?

Don’t hesitate to contact a real estate agent to help you with the decision.  He or she can update you on local market conditions while assessing values of the homes.  Your agent may even suggest other options that will be more beneficial.

~ Some information from Kimbrough Gray~