Why is Loft Living a Worthy Real Estate Investment?

Loft living is still popular today

Loft living
Loft Living

It’s hard to believe that loft living started off as a cheap option for struggling artists to live and work.  They found vacant industrial space in run-down buildings and made it their homes – perfect for living and working with open spaces and great lighting.  But soon the charm of loft space caught on to the more affluent buyer and neighborhoods quickly changed from cheap loft living to the hot-spot in housing and redevelopment.  Loft living is still popular today. Why is loft living a worthy real estate investment for you?

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Minnesota February Housing Report Shows Low

New Listings Continue to Lag in Minnesota

Sellers are finding themselves in a good position when it comes to the transfer of private property in Minnesota.  New listings continue to be low, forcing potential homebuyers to move quickly on a home they may be interested in.  Sellers are receiving 92.2% of the original list price and are watching the median and average sales prices continue to rise according to the latest report from the Minnesota Association of REALTORS®.

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How to Change Realtors

hand shakeUnderstanding how to change realtors

You thought it was going to be a match made in heaven.  They said all the right things and you felt like you were on the same wave length and could maybe even become friends.  Then you started the search and things didn’t go quite as expected.  Perhaps you had a difficult time connecting or you felt your questions just weren’t getting answered.  Regardless of why, you think it’s time for a change – how do you change realtors?

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Considerations When Hiring a Novice Realtor

Tips for hiring a novice realtor

Realtors ethics requirements
Hiring a Novice Realtor

It’s such a major transaction – selling or buying a home.  Who you contract with to help you through this process is a major decision, because there is a lot of money and time at stake.  How do you know you can trust a realtor who is new to the business?  Everyone has to start at some point and you want to give them a shot, but you don’t want them to make a mistake as your agent. Here are some considerations when hiring a novice realtor.

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5 Ways to Add Value to your Home

Add value to your home without breaking the bank

Add home value
Adding Value to Your Home

Most people have lofty plans of improving their home with décor or by adding a porch or another bathroom to create the home of their dreams.  But what are the best investments you can make to your home – regardless if you plan to sell soon or stay for many years? Which ones seem to have the best return?   There are a couple of things to consider before you start spending, such as how long you plan to stay in your home and what your neighborhood is like (because you don’t want your home to end up the most expensive one on the block.  Here are some ideas to help add value to your home without breaking the bank.

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2013 Minnesota Housing Year in Review

Prices appreciated and reduced selling time highlight 2013

All key indicators are showing that there is confidence in Minnesota’s economy, which is translating to a positive trend in housing, according to the yearend housing report from the Minnesota Association of REALTORS®.

With the continued addition of employment opportunities coupled with low mortgage rates and a tight rental market, many people made the homeownership choice in 2013.  With prices on the rise and inventory low, those homeowners who found themselves underwater a few years ago, can now consider making a move.

Noteworthy highlights:

Minnesota Housing report
2013 MN Housing Review
  • There were 77,820 residential properties sold in 2013, which is a 4.6% increase over 2012.
  • The average sales price went over the $200,000 threshold statewide.  This is the highest average sales price Minnesota has seen in the last five years.  An increase of 11.2% to $209,079 was the average.
  • The median sales price, which is the midway point of all houses sold, also showed a 13.0% increase over last year.  A rise in the median price can indicate that sellers are responding to local market activity and feel confident asking more for their home. 2013 ended up with a median price of $170,000, again a five year high.
  • A decrease of 17.7 percent for days on market is a number that homeowners like to see.  At 79 days for 2013, this is a 5 year low we like to see.
  • Sellers found that they were selling their homes faster and for more money. Homes on the market received 94.6% of the original list price which is a 2.3% increase over 2012.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

December 2013 Minnesota Housing Report

December housing numbers see seasonal decline in many areas

If you sell real estate in Minnesota, you know our winter weather isn’t always conducive to selling or buying real estate.  December 2013 appears to follow that pattern in a number of key areas.

New listings statewide were down 9.0 percent over December 2012.  Throughout Minnesota there were fewer than 27,000 properties available, a slight dip when compared to the previous period in 2012. This is the second straight month we’ve seen a decline in new listings which coincides with our winter slowdown.

While buyers had less inventory in December, sellers were watching their values continue to increase; receiving 93.2 percent of their original list price. This is a strong indicator that our market is stabilizing.

Those same sellers are seeing the average sales price remain strong.  A 6.8 percent increase over the same time last year is still positive for homeowners looking to sell.

December housing

“As inventory decreased, prices went up,” said Rod Helm, President of the Minnesota Association of REALTORS®.  “We are seeing more multiple offers on homes for sale in Minnesota and many buyers are starting to put their offers in very quickly to avoid losing out on a property they want to buy.”

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.