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Wednesday, May 15th, 2013 at 11:54pm. 153 Views, 0 Comments.
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…
Tuesday, April 30th, 2013 at 12:47am. 310 Views, 1 Comments.
The Twin Cities real estate market is heating up and sellers are winning the season so far. Inventory is getting a bit tight, resulting in higher sale prices and even multiple bids.
The jackpot is a little unecpted and too soon for some home sellers, though. There are stories of home sellers putting houses on the market and having offers withint days. When they accept so soon, a whole new flood of concerns is coming forward: What to do between houses - after one has sold, but before the new home has been bought?
This concern may be causing some sellers to hold back. Home sellers don't just want to unload a house and be homeless for a while, they want to have a prospective house that they want to buy in mind before putting their house on the market.
Monday, February 25th, 2013 at 1:06am. 347 Views, 1 Comments.
More and more home buyers and home sellers are entering the housing market now that it has finally begun to stabilize.
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:
Monday, February 27th, 2012 at 1:49am. 833 Views, 0 Comments.
It is almost the start of the spring selling season in Minnesota. The art of staging a home - the visual preparation of a residence for sale in the real estate marketplace - could be the key to helping your home sell. Whether your househas been on the Twin Cities real estate market for a year or is just being put up for sale for the first time, now is a good time to do some home staging for when potential buyers come to call.
1. Do your research. Take some time to evaluate the staging of other homes, whether its through photographs online or by attending open houses. This is a great way to get ideas if you're not sure what a staged home should look like.
2. Clean, declutter and depersonalize. Staging is more than just making your house look good. It is about…
Wednesday, June 22nd, 2011 at 5:26pm. 579 Views, 0 Comments.
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…
Tuesday, September 22nd, 2009 at 6:02pm. 547 Views, 0 Comments.
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…
Monday, April 13th, 2009 at 10:40pm. 2247 Views, 0 Comments.
About a month ago, I wrote a post called Early Spring Home Maintenance Checklist. Well, this is going to be part two, or II, of that checklist. The first was spring home maintenance that could be taken care of, regardless of how bad the weather might get outside. It is Minnesota, after-all, and I don't need to tell you how unpredictable it is. Remember the snow storm on April 11, 2008? Ugh. This is a list of stuff you can probably start doing now that it seems to be really warming up outside (knock on wood). The spring selling season is really gearing up, so following these steps to make sure your home is in tip-top condition could make a big difference in its curb appeal.
- Check and maintain roof shingles
- Unclog and Secure Gutters and…
Friday, March 13th, 2009 at 9:00am. 597 Views, 0 Comments.
Okay, maybe it’s a little early to be thinking spring, but we are nearly half-way through March already – warmer weather is bound to come soon! And with spring comes home maintenance, especially if you’re thinking of selling your home this summer.
So I’ve scoured the Internet to put together some home maintenance projects that will help you gear up for the home selling season. There will be another checklist coming later once it starts warming up out there, but these are things you should be able to do right now. Many of these steps will also help you get a head start on increasing your home’s curb appeal.
- Clean windows and repair screens
- Check life expectancy of appliances
- Lubricate door hinges and hardware
- Vacuum out-of-the-way…
Tuesday, November 18th, 2008 at 6:07pm. 515 Views, 0 Comments.
Yesterday I wrote about how truer home appraisals are being requested by mortgage lenders before they will dispense a loan. Today I will write about how two major things right now are directly affecting your appraisal value: foreclosures and short sales.
For a few months, pending home sales in the Twin Cities have gone up and the excessive inventory of unsold homes has been slowly going down. However, the local real estate market, and markets in the nation at large, still faces some opposition. Growing unemployment, wilting wage growth, higher down-payment prerequisites, and stringent mortgage qualifications are all contributing to tumbling real estate prices. Furthermore, the increasing number of foreclosures sales and short-sales taking place are…
Monday, November 17th, 2008 at 8:31pm. 513 Views, 0 Comments.
When it comes to pricing your home for the market, many factors are taken into account. One of these will be “comps”: the comparable sales of other properties in your areas. Used as benchmarks in home real estate appraisals, buyers and sellers never used to be concerned about “comps” when real estate values were on the upswing.
In this soft market, mortgage lenders recently have begun making these benchmarks a big deal. Because of the rapid decline in home values, instead of accepting sales of comparable properties that closed six to 12 months ago like in years past, lenders and mortgage investors now demand that appraisers include only the most recent comparable home sales, preferably using closings from the last 90 days to support their valuations.
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