Is spring market the best time to sell a home in Minnesota? The overall answer is "yes". However, it's important to understand the Real Estate definition of "spring" may be vastly different from your personal definition. Real Estate spring is really early, which means you need to start planning as early as possible. This post and others in my Plan, Prepare, and Profit series will help you do just that. Over the past few years the spring market has come rolling in like a tsunami. Several factors influence the best time to sell your home. Factors to consider include price of your home, the demographic of likely Buyers, and your personal needs. Let's define the Real Estate spring market timeline first. Real Estate Spring Starts Really Early: When I started in Real Estate over 20 years ago, the traditional start to the "Real Estate Spring Market" was considered the Sunday after Super Bowl Sunday! Right after the Super Bowl, there was a significant increase in phone calls coming into the … [Read more...] about Real Estate Spring Market Starts Really Early!
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There are many reasons unemployment rates affect the Real Estate market. But is the effect large enough to make an impact in Minnesota specifically? Not really, and here is why. First and foremost, with a permanent and reliable job many feel ready to put roots down and buy a house. Secondly, people can only get financing for a home if they have a steady job. Finally, with a steady job, higher paying job or promotion many people choose to upgrade to a newer or more luxury home.How does this affect the Real Estate Market? I am to be realistic with my clients. The truth is more jobs are always good but the effect on the Real Estate market is marginal at best. Part of this is due to Minnesota's better than average economy and higher than average employment rate. Additionally, not all jobs are equally affected by the low unemployment rate.The information I found on the governments Bureau of Labor Statistics shows industries with the highest job growth are natural resources and mining: 1.4 … [Read more...] about Unemployment Rates Are Down. What Does That Mean For Real Estate?
There are 3 big reasons why there is low inventory. The amount of inventory greatly affects the market. It's the age-old principle of supply and demand. Inventory affects the prices and process of real estate; prices rise and the process becomes faster paced.3 reasons for the low inventory 1. The long term recession of 2007-2013 took home prices down so low and for so long that many people skipped a move entirely. For example, someone with kids who were 8 and 11 at the start of the crash and wanted to sell their small starter home to buy a larger home. By the time their home regained enough value to justify selling, their kids were then 15 and 18 and there really wasn't a reason to buy a big home just to empty nest in a few years. Many people never upgraded and just skipped this phase of real estate. As a result, this lowers the number of starter homes on the market. 2. Empty nesters are staying in their homes longer. This is partly because during the crash builders stopped building … [Read more...] about 3 Reasons For The Low Inventory In Real Estate And Why It Matters
Causes of a Fractured Market We are seeing a fractured market right now meaning there is low inventory in single family homes from $200,000 – $400,000 and far higher inventory in the $400,000 and above range. The tricky situation with an unbalanced inventory is how intertwined the two sides are. The higher priced single family homes are usually bought by people leaving their $200,000 – $400,000 dollar houses. However, the low inventory of this price range shows these buyers aren't on the market. This leaves the high number of higher priced homes sitting on the market with no demographic to buy them.Sellers at the lower end of the price scale will benefit. You are rare, which means that your house will be sought after. You'll also have plenty to choose from when upgrading to your new house. As for Sellers from the higher end of the price range, you need to be competitive with pricing and willing to negotiate. Your choices will depend on the type of house you are looking for … [Read more...] about Real Estate in MN is a Fractured Market
EAGAN, MN – This rare and unique Eagan property offers everything you need. It's private, secluded, and features expansive square footage.The setting mirrors the majestic features of this incredible home. Welcome home.This home is on sale now for $614,900.Sign Up For Patch's Daily Newsletter and Breaking News Alerts in Your Neighborhood Address: 4611 Sweet St, Eagan, Minnesota Price: $614,900 Square Feet: 4002 Bedrooms: 5 Bathrooms: 3 Full and 1 Half Baths Built: 2007 This listing originally appeared on realtor.com. For more information and photos, click here. 4471 Reindeer LnEagan, Minnesota 55123 For Sale: $339,9004 bd/2 full ba, 2,019 sqft More Info 4624 1/2 Ridge Cliff DrEagan, Minnesota 55122 For Sale: $199,9002 bd/1 full ba, 1,424 sqft More Info 1053 Beatrice StEagan, Minnesota 55121 For Sale: $215,0003 bd/1 full ba, 990 sqft More Info 4626 Parkridge DrEagan, Minnesota 55123 For … [Read more...] about Eagan Estate On Sale Features 5 Bedrooms, 4,000 Square Feet