Twin Cities Market Activity Report - WE 3/8

Twin Cities Market Activity Report - WE 3/8
provided by MAAR

Warming weather, affordability and approaching deadlines are
activating the housing market. With less than 60 days left until the home buyer tax credit expires, buyers and sellers appear to be kicking it into a new gear. There were 1,715 new listings for the week ending February 27, an increase of 5.3 percent from a year ago and the fourth consecutive week of year-over-year increase. The $6,500 tax credit for move-up buyers appears to be stimulating some sellers to place their homes on the market in an attempt to sell them before the credit expires.

For the same reporting week, there were 868 accepted offers, which is a bump of 13.9 percent from a year ago. After several months of relatively flat home buying, the last two weeks have seen a jump as the credit deadline nears.

Days on Market continues to decrease, landing at 142 days in February. That was a 9.7 percent decrease from a year ago. The Percent of Original Price Received at Sale stood at 92.3 percent in February, a 3.4 percent increase over the year prior.
If you are looking to buy or sell in Minneapolis, St. Paul, Maple Grove, Plymouth or any of the surrounding suburbs contact me or visit my website at http://www.chadelliot.com/

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

How to price to sell and still make a profit!

How to price to sell and still make a profit!

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent's knowledge of the overall market and what's selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won't leave money on the table.

Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).

Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.

Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.

If you are interested in selling your home in Minneapolis, Maple Grove, Plymouth or any surrounding city give me a call or visit http://www.MN-TwinCities.com of more information.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Market Activity Report - WE 2/22

Twin Cities Market Activity Report - WE 2/22
provided by MAAR

The Twin Cities housing market in early 2010 looks pretty much like it did in early 2009. How similar? Over the last three months, there have been 7,189 signed purchase agreements; there were 7,186 a year ago during the same time period. Eerie, no? Robotic precision.

For the week ending February 13, there were 711 pending sales, down 2.7 percent from last year, and new listings posted 1,764 units, up 4.9 percent from a year ago. The only thing that's really changed much is the supply of available homes, which continues to dwindle relative to a year ago. The current stock of 22,271 available homes represents a 12.4 percent decline from a year ago.

For more information on the Maple Grove, Minneapolis, Plymouth, St. Paul real estate markets please contact me or visit my website at http://www.MN-TwinCities.com/.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com