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Top 3 reasons to sell your home in the current Minneapolis-St. Paul Real Estate market.

Top 3 reasons to sell your home now vs. later. There has been a huge shift in the market over the last 6 months and sellers are seeing the benefits!

Top three reasons to sell your home in the current Minneapolis-St. Paul Real Estate market.

By now, most people are completely immune to terms such like the real estate market is really heating up right now or there's no better time to sell then now. Sometimes it's hard as a real estate agent come up with something new to talk about because were in the business of buying and selling homes. It's our job to motivate you as a buyer or seller to move forward with the sale or purchase of a home. This doesn't work for everybody and every market so we want appeal to the people that are actually thinking this may be the year that they want to sell their home. The market has had a huge shift just in the last six months and has gone from a buyer’s market to a seller’s market. This is a good and a bad thing depending on which side of the fence you're standing on. Because we have now shifted to a seller’s market it gives home sellers an advantage. I'd like to cover the three big reasons for listing and selling your home now versus waiting six months.

You have a lack of competition.

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The amount of available homes for sale in March 2012 to March 2013 has dropped by 31%. That's almost a third of the marketplace that is disappeared in the last 12 months. We have more buyers now than we did last year which creates a shortage of quality homes for sale. This is fueling a lot of different things including increased buyer activity. Think of this surge of good fortune like finding out about a stock as it starting to take off that no one else seems to really know about. There is a lot of sellers who are still oblivious to the fact that values in the Minneapolis-St. Paul area have risen on average of 10 to 15% in just the last six months or so. In some areas of the city they are seeing even more than that. It seems like most local media is about eight months behind what's actually going on in the marketplace. The ones who are aware of this situation are the buyers.


Your home will sell faster

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It's just common sense that if there are more home buyers in the marketplace than there are homes for sale, you're looking at a quicker sale. The home still has to be priced correctly as well is marketed correctly to get to sell. What I'm seeing though is buyers who are losing out on multiple offers that are just waiting for the new homes to come on the market. They've already lost out in some cases more than once in a multiple offer situation. Many of them know what type a house they want and are ready to step forward and write an offer. They do not want to hesitate because they are aware if the home is nice and priced well it's going to sell to someone if they don't buy it. This is not the case a year ago. In that market buyers had weeks if not a month to make a decision, those days are over.


You will get a higher price

This surge of activity has created a panic among many buyers. This has led to multiple offers on homes in all areas and in most price ranges. We are not just talking about entry-level homes under $200,000. We are seeing multiple offers on properties over $500,000. The interest rates are still extremely low which gives a buyer more buying power. The other upside is some of the pending's are now turning to close sales so as a real estate agent I'm able to start using some of those comps of the higher-priced sales to help price homes. Another big issue in the past has been can we get this house to appraise for the purchase price? That is a big piece that starting to fall back into place and I can now say with confidence it's becoming much easier.

This may not be the right marketplace for you to sell your home I get that. However I will encourage you to think about listing your home for sale sooner rather than later to take advantage of this wave of buyers. If the inventory of homes for sale continues to stay low prices will continue to increase quicker. Now that were entering the spring market if the snow would just go away I think we are going to see an increased amount of homes for sale which will balance everything out again.

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