"We have seen a steep decline in new listings over the last week, which is very typical for this time of year. As I have said before this actually makes for a great market opportunity for the sellers who have kept their home on the market. The buyers this time of year have historically been more serious because they need to move. This in many cases will give the sense of urgency to the buyers who are on the fence as the choices of homes go down...."
To read the entire blog CLICK HERE
Tuesday, November 30, 2010
Why you should you buy a home before the end of the year
"I am sure you are probably getting tired of hearing now is the time to buy but you are reading this. I have spoken to so many buyers recently that want to buy a home but keep waiting for the market to bottom out. It has for the most part bottomed out at this point. The reason that most people don’t know this is because the media is always 8 months to a year behind what is going on in the real estate market. They also have a habit of looking at things from a national perspective vs. locally. Bottom line this can cost you money in the long run by waiting too long. Here are 5 reasons to buy now vs. waiting..."
To read the entire blog CLICK HERE
Search for a home CLICK HERE
Thursday, July 8, 2010
New Listing in Lakeville, MN 2 story $339,900
Looking for the perfect move-in ready home in model condition? Look no further than this! The home has so many wonderful things about it from condition to location. The neighborhood is conveniently located close to Cedar Avenue and Dodd Road. Only 30 Minutes to the airport and Mall of America. Close to shopping, parks and schools. This neighborhood is in the Lakeville South school district. All of the neighbors show pride in ownership which adds to the appeal of the neighborhood. Many of the homes are very similar in style and size which makes for a great investment.
The main level as you enter the home has a large foyer and beautiful hardwood floors that carry into the kitchen. To the left is a home office that could be used as a 5th bedroom. To your right is a formal dining room which makes hosting dinner parties very easy. The eat-in kitchen with its beautiful hardwood floors also features custom cabinets, center island with breakfast area and plenty of room for a kitchen table. The living room off the kitchen has large windows that add light throughout the day and a gas fireplace for those cold winter nights. The laundry room is also on the main level right off the large insulated 3 car garage.
The upper level has a master suite complete with vaulted ceiling, a large walk-in closet, full master bath with separate Jacuzzi tub and shower. Another full bath plus 3 more nice sized bedrooms all with good closet space.
The lower level is currently unfinished but has egress windows, bathroom rough in and lots of storage space. A large portion is being used as a work shop but if you choose to finish it you could add another 1000 square feet.
The entire yard front and back is beautifully landscaped with many different types of trees, plants and perennials. The in-ground sprinkler system keeps the lawn lush and very green. The back yard is very private and can be enjoyed on the raised paver patio. This is a very unique and beautiful feature that ties into all of the landscaping. It is 17 x 16 which is larger than most deck with plenty of room for a table, lounge chairs and a grill.
This home is a must see with all it has to offer and would be a perfect fit for many different lifestyles. Don't miss this rare opportunity to own this wonderful home; they don't come around very often.
Thursday, July 1, 2010
Avoid the "pricing trap". 5 key points to consider when selling your home.
Top five tips when pricing a home for sale
Pricing decisions should be grounded in reality from the start. Here are some tips to consider before you settle on a listing price.
1. Put personal feelings aside. Think realistically about how much a buyer would willingly pay for your home, not what you think they should pay based on your bias. Buyers don’t care what you paid for your home or how much was invested in repairs and upgrades. All they care about is getting the best home at the best price.
2. Understand the concept of market value. The value of your property is determined solely by what a buyer is willing to pay in today’s market. You shouldn’t automatically expect to get more than you paid when you bought the home. You have to look at all of the information including lagging indicators, leading indicators as well as current indicators. Having an agent who can provide a regression pattern helps as well.
3. Know the competition. No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Many times buyers will be looking in more than 1 area at a time. Your best guide is a record of what the buying public has been willing to pay in the past few months for properties like yours in your neighborhood.
4. Price it correctly from the begining. If you're too high, you'll need to continually reduce the price until you hit that "magic" number, and by then buyers will begin wondering what is wrong with the house or might wait to see how low you will go. We call that chasing the market.
5. Don’t test the market. Testing the market is a poor idea because most showings occur during the so-called "honeymoon" period, or the first 21 days in which the property is listed. After those first few weeks, showings drop dramatically. If the listing doesn't sell it could be on the market for a very long time. It typically takes 25 showing to get an offer. If you have had 50 with no offers you have in essence lost 2 buyers. Timing is everything!
Pricing and marketing go hand in hand, one does not work without the other.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
www.tomsommers.edinarealty.com
Pricing decisions should be grounded in reality from the start. Here are some tips to consider before you settle on a listing price.
1. Put personal feelings aside. Think realistically about how much a buyer would willingly pay for your home, not what you think they should pay based on your bias. Buyers don’t care what you paid for your home or how much was invested in repairs and upgrades. All they care about is getting the best home at the best price.
2. Understand the concept of market value. The value of your property is determined solely by what a buyer is willing to pay in today’s market. You shouldn’t automatically expect to get more than you paid when you bought the home. You have to look at all of the information including lagging indicators, leading indicators as well as current indicators. Having an agent who can provide a regression pattern helps as well.
3. Know the competition. No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Many times buyers will be looking in more than 1 area at a time. Your best guide is a record of what the buying public has been willing to pay in the past few months for properties like yours in your neighborhood.
4. Price it correctly from the begining. If you're too high, you'll need to continually reduce the price until you hit that "magic" number, and by then buyers will begin wondering what is wrong with the house or might wait to see how low you will go. We call that chasing the market.
5. Don’t test the market. Testing the market is a poor idea because most showings occur during the so-called "honeymoon" period, or the first 21 days in which the property is listed. After those first few weeks, showings drop dramatically. If the listing doesn't sell it could be on the market for a very long time. It typically takes 25 showing to get an offer. If you have had 50 with no offers you have in essence lost 2 buyers. Timing is everything!
Pricing and marketing go hand in hand, one does not work without the other.
As always please consult a real estate attorney with any legal questions you may have and your accountant for any tax questions.
Follow me on facebook - Tom Sommers Edina Realty Twitter - usearealtor
or any of my Web Sites:
www.tomsommers.com
www.allmnhomes.com
www.tomsommers.edinarealty.com
www.tomsommers.edinarealty.com
Tuesday, June 29, 2010
New listing in Lakeville, MN Elegant rambler only $600,000!
VIEW THIS LISTING
Looking for an elegant home with quality craftsmanship and attention to detail throughout? Look no further; this could very well be the home of your dreams. Located in a very upscale quiet neighborhood Lake Villa, the location couldn't better. Only 5 minutes to shopping and I-35, only 20 minutes to the airport.
As you enter the home you see right away how open the floor plan is. A huge foyer with beautiful hardwood floors that flow to the formal dining room. The formal living room has floor to ceiling windows with a great view of the back yard. These two rooms are divided off with large pillars making them intimate yet open at the same time. The eat-in kitchen has hardwood floors, Center Island, breakfast area, bump out for a kitchen table and sitting room. Easy access to the 1st of 2 decks is right off the kitchen making it easy to entertain and barbeque. The laundry room, mud room and 1/2 bath are right off the insulated 3 car garage. The office to the right of the foyer as you enter the home has French doors for privacy. It is all finished with ornate woodwork from top to bottom including a coffered ceiling; it is a classic office/den. A 2nd 1/2 bath located right off the office for guests. The master bedroom feels like you are in a luxury hotel complete with a huge master bath. The master bath features marble floors, dual sinks, Jacuzzi tub, separate shower and a spacious walk-in closet with custom cabinets and dressing table.
The lower level walkout is very bright and open with lots of space and options. There are two large bedrooms both with walk-in closets, large storage area that could be a workshop or craft room, full bathroom and exercise room that can be used as a 2nd office or play room. The family room works as a home theatre along side a full wet bar and amusement or game room. You will be able to fit a full size pool table in this area along with another bump out for a game table. The home is set up perfectly for home entertaining. Large family gatherings or small dinner parties both work well with this floor plan.
The yard is private, beautifully landscaped and backs up to woods. You can enjoy the privacy of the back yard on 1 of two decks or the patio. The exterior has been redone with James Hardy siding and stone. Flexible closing and possession are possible. This unique home is a must see!
Monday, June 14, 2010
New listing! 1 1/2 story home in Richfield, MN
View Property Details
Spacious 1 1/2 story home located in Richfield, Mn. Large corner lot with fenced back yard. Located close to Nicollet Avenue and 494, which makes the location very convenient to shopping and major highways. Only 10 minutes to the airport, Mall of America and down town Minneapolis. Five minute drive to light rail and within walking distance of shopping and bus stop.
The main level has hardwood floors, 2 bedrooms with good closet space, full bath, eat-in kitchen, informal dining room, living room with wood burning fireplace and 3 season porch. The upper level is a huge master bedroom with lots of closet space and beautiful wood tongue in groove ceilings and walls.
The lower level is partially finished with a 3/4 bath, family room that would be perfect for a home theatre or game room and laundry room with lots of storage.
Enjoy the fenced back yard on the huge deck. The yard has plenty of room for a garden on play set.
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Spacious 1 1/2 story home located in Richfield, Mn. Large corner lot with fenced back yard. Located close to Nicollet Avenue and 494, which makes the location very convenient to shopping and major highways. Only 10 minutes to the airport, Mall of America and down town Minneapolis. Five minute drive to light rail and within walking distance of shopping and bus stop.
The main level has hardwood floors, 2 bedrooms with good closet space, full bath, eat-in kitchen, informal dining room, living room with wood burning fireplace and 3 season porch. The upper level is a huge master bedroom with lots of closet space and beautiful wood tongue in groove ceilings and walls.
The lower level is partially finished with a 3/4 bath, family room that would be perfect for a home theatre or game room and laundry room with lots of storage.
Enjoy the fenced back yard on the huge deck. The yard has plenty of room for a garden on play set.
Search for homes
In Foreclosure! New listing in Minnetonka, MN
View property details-http://allmnhomes.com/Twin_Cities_Home_Search_listings/3762FC53-A474-22DF-438A43D52A8AB5E4.shtml
Very private end unit located on a cul-de-sac. Large yard with plenty of space. Home backs up to privacy so you don't stare at a neighbor, this adds to the privacy of the deck. The home is incredibly well cared for with a very open feel and sunlight throughout the day. The eat-in kitchen has beautiful hardwood floors and lots of cupboard and counter top space. The informal dining room off the kitchen leads to the living room and the private deck. There are 2 bedrooms on the main level both with large closets along with a full bath. The living room also features beautiful hardwood floors and large picture window.
The lower level has a big family room with a fireplace. A large laundry room, extra storage, 3/4 bath and 3rd bedroom round out this level. The 2 car has extra room for storage. If you are looking for a great location this is it. Close to 101 and 62 you are only minutes away from shopping and 494.
Very private end unit located on a cul-de-sac. Large yard with plenty of space. Home backs up to privacy so you don't stare at a neighbor, this adds to the privacy of the deck. The home is incredibly well cared for with a very open feel and sunlight throughout the day. The eat-in kitchen has beautiful hardwood floors and lots of cupboard and counter top space. The informal dining room off the kitchen leads to the living room and the private deck. There are 2 bedrooms on the main level both with large closets along with a full bath. The living room also features beautiful hardwood floors and large picture window.
The lower level has a big family room with a fireplace. A large laundry room, extra storage, 3/4 bath and 3rd bedroom round out this level. The 2 car has extra room for storage. If you are looking for a great location this is it. Close to 101 and 62 you are only minutes away from shopping and 494.
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