Selling a Home
Renovations to Help Your Twin Cities Home Sell
Is it smart to remodel your home before selling? Often, minor upgrades give you a higher return on investment compared to major renovation projects. Huge construction projects always cost more and take longer to complete than you think.
As part of our services, we help you figure out where to focus your time and energy. Most homeowners have one of three goals when they are considering making renovations to their property.
- Increase the sales price. Small cosmetic fixes are best. Buying new appliances or replacing countertops will do more to change your sales price compared to redoing the kitchen entirely. It's worthwhile if replacing $5,000 of appliances and countertops takes your sales price from $200,000 to $222,000.
- Sell quickly. Replacing necessary items don't always increase your home's value, but they may still help with the sale. Replacing the windows or water heater could make the home more attractive to buyers who don't want to handle those repairs on their own. That could mean less...
The Best Time to Sell in the Twin Cities
Throughout the year, one question we hear a lot is this: "When is the best time of year to sell my home?" We looked back over the last 15 years, and we found that sellers achieve the most success during the month of February.
Some of you may be surprised at this since February in Minnesota is so cold and sees a high amount of snowfall. The facts are pretty clear, though. In February, there is a significant amount of buyers, and inventory levels are 25% lower than the rest of the year. This means there is less competition for sellers, and the buyers that are out there are serious about purchasing a home.
That said, February buyers are often concerned about the yard. Since the yard can be covered in snow, the buyers won't know what it looks like. We recommend taking professional photographs of the property before any snow hits the ground. Those pictures will give buyers the confidence to move forward. Buyer confidence results in higher rewards for the seller.
If you need a professional photographer to take photos of your property, we can provide one for you. If you have any other questions about...!--end-->!--insert>
2319 Golf Drive - Woodbury MN
This beautifully appointed home has been extensively upgraded with custom features not found at this price. The chef's kitchen features granite counter tops and stainless steel appliances. Hardwood floors throughout the main level tie together the open floor plan which is both breathtaking and functional.
Upstairs features 4 bedrooms including a larger master suite with 2 closets, huge master bathroom with separate tub and shower and dual vanities.
10550 McCool Court - Burnsville
This beautiful custom built home sits on the banks of the Minnesota River with exceptional privacy and views of the Minnesota Valley National Wildlife Refuge.
This home features upgrades rarely found at this price. From the 2 master suites - one on the main and one upstairs - to the beautifully appointed basement bar, theatre and fitness center, this home is a masterpiece of design, function and ellegance.
- 4,373 Total finished square feet
- 5 Bedrooms
- 5 Bathrooms
- 3 car garage
Proudly marketed by Steve Hall for the price of $575,000.
How Setting the Right Price Can Help Sell a Home
Setting the asking price correctly can help you with a swift and successful sale. The first few weeks a home is for sale on the market is the best chance for selling a home at a good price, in a reasonable amount of time,
Because of the low inventory in markets across the United States, home buyers are searching the MLS listings every day, waiting for the right home to go on the market. If your home is priced right from the beginning, you will be in the best position to attract home buyer attention and sell the house for a good price within a time frame you can live with. If your price is set too low, you might get a lot of attention and some lowball offers, but you stand a chance of losing out on thousands of dollars. If your price is set too low, less people will come to look and offers to pay your impractical price will be few and far between. You could reduce your price, but by that time you will have likely missed out on home buyers who might have been interested.
How Are Prices Set?
Determining what an initial asking price should be involves research on the real estate market and judgment that comes from experience. The basic steps include, but are not limited to:
- Assessing the homes against similar home in the neighborhood that have sold recently or are presently for sale.
- Defining what features of the house make the home special among others currently up for sale in the area.
- Deciding how much to invest in improvements that could increase the marketability of the home to earn the best sale price.
A good sale price will be close to the market value of the house, which is continuously shifting. Setting the right price from the beginning results...
What You Should Know About "Pocket" Real Estate Listings
MPR recently did a story about the proliferation of private sales in the Twin Cities real estate market. I thought that I would take some time to talk about what a private real estate sale is and what its pros and cons are.
A private real estate sale, otherwise known as a “sleeve” listing or a “pocket” listing, is a property for which a broker holds a signed listing agreement from the seller, but it is never actually advertised on a multiple listing system (MLS). Instead of putting the house on the local MLS, which exposes it to home buyers and buyer agents, the real estate agent restricts access to information about the house, hoping for a quick sale.
Pocket listings are surging in the local Twin Cities real estate market, and in many other places in the U.S., because of incredibly low inventories of homes for sale, along with strong buyer demand and low mortgage interest rates. In competitive markets where real estate listings are scarce, private sales or pocket listings are a way to have utter control over the sale. The practice of marketing properties prior to listing them on the MLS is legal as long as agents explain the trade-offs sellers are making.
There are benefits for the seller. As the ...
6 Mistakes for Home Sellers to Avoid
For people who are planning to sell a home, it is important to understand the tax implications that come along with selling a home. It’s also important to be aware of structural and cosmetic flaws in a home and neighborhood that could affect the asking price or cause a property to languish on the market.
Here are six tips for home sellers to avoid mistakes:
- Make your home neutral. If your interior or exterior walls are painted with bold colors or textures, it may turn off sellers. They want to be able to imagine themselves living there, and it could be hard if the colors clash with their ideal. It might be worth toning it down with a more neutral palette.
- Make reasonable repairs. If there are some obvious flaws with your home that are going to be a turnoff to buyers, such as a damaged roof or broken windows. Mismatched appliances, cabinetry and plumbing fixtures stand out. The same goes for worn floors or carpeting. If you can afford to make some more extensive repairs or remodeling projects, it may be worth it. But choose carefully, as some home remodeling projects have a better return on investment than others.
- Finish your remodeling projects. If you started a job and didn't complete it, most people won't want to take that on themselves, even with a significant reduction in price.
- Have your home professionally staged. Professional home stagers know how to maximize space and show off a home's strong points, while downplaying its defects. One place they’ll ask you to start is by decluttering.
- Pay attention to curb appeal. The front of your home is the first thing...
Celebrate Home Safety Month in June
During the month of June, the Home Safety Council celebrates Home Safety Month! The theme for this year’s Home Safety Month campaign is "Hands on Home Safety."
Home safety is of particular concern to people who are trying to sell a home. If a potential buyer is hurt on your property, instead of unloading a house you might gain a lawsuit!
The Home Safety Council (HSC) is an organization which encourages people to take easy steps toward making their homes safer for people and pets. For this year's Home Safety Month, HSC suggests simple hands-on steps to create a safer home environment from the five leading causes of home injury: falls, poisonings, fires and burns, choking or suffocation, and drowning. Many household accidents like these can be avoided with precautionary measures!
Falls are the leading cause of injury at home, according to the HSC. Steps that can be take to prevent falls include:
- Make sure that stairwells and hallways are well-lit
- Stairs should have handrails on both sides, secured along the full length of the stairway
- Fix uneven or broken stairs
- Ensure the halls and stairs are unobstructed
- Make certain that smooth walking surfaces are dry
- Place rugs at doorways and in the kitchen in front of the sink to provide traction in potentially slick walking areas
Falls can easily happen outdoors, too. Cracks in the asphalt that result in uneven pavement or a gap can cause people to trip. The concrete doesn't need to be entirely replaced, however. Mud jacking and sand jacking services can help to raise part of the concrete to reduce the gap. Landscaped paths with brickwork or stepping stones that have become uneven over time should be re-leveled.
Check out the safety articles HSC has provided for a variety of potential issues, including fire, water, cooking and child safety. It also might be worth checking out their summer safety guide....
10 Fall Lawn and Landscaping Tips to Maintain Curb Appeal
It's the end of September. Whether you are trying to sell your home or not, now is the time to perform autumn landscaping and lawn care duties. Though the sun is disappearing, there is still plenty to do, not only to prepare the yard for winter, but maintain the curn appeal of your home if you are trying to sell it.
1. Clean up fallen leaves and grass clippings. When a home is for sale, piles of leaves in the yard and landscaping offer potential buyers a poor first impression of the home.
2. While raking the leaves, kill 2 birds with 1 stone by also dethatching the lawn.
3. Remove the leaves so they don’t smother the grass over the winter.
4. Though you may be ready to stop mowing, cut the grass as late as possible so that it is shorter when it goes dormant. Never cut it lower than 2 to 2-1/2 inches. When it stops growing, you can stop mowing.
5. Overseed bare patches now to fix brown spots in next year’s lawn.
6. Fall is a great time to prune trees, but avoid pruning until after the tree has gone into dormancy. Pruning too soon might encourage new growth and increase the risk of frost damage.
7. Ensure that the lawn and trees receive enough water in the fall to carry it through the winter. Water trees deeply.
8. Consider planting a few perennials. Now is a good time because the season is late and the temperatures are already cooler. As a result, the plants won't concentrate on growing leaves or blooms, but on building a healthy root system.
9. Pull annuals when the low temperatures kill them to reduce the appearance of dead, dying and dry plants.
10. Spread 6 to 8 inches of mulch (straw or leaves) over perennials to give them an added layer of protective insulation.
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