The Federal Government envisions a secure and stable marketplace for national and Minneapolis condos for sale, thus their involvement. We may or may not like the politics, but the fact remains that the marketplace has stabilized somewhat, and prices are leveling in anticipation of an upward turn.
No matter the actual state of the market, the simple fact is that motivated buyers and sellers for Minneapolis condos for sale do still exist. If not, a lot less people would visit this site.
If you market your home correctly, the opportunity to sell is still promising. After all, interest rates are favorable, prices are realistic and the government has thrown some interesting incentives to buyers, sellers and lenders alike.
You and your real estate agent have the ability to induce buyers to act. If your agent is experienced, he or she will work with you to develop incentives and add appeal to the transaction.
Step 1: Provide Factual Information
Facts outweigh rumor, and having provable information helps get rid of the buyer’s reservations. Here are some of the main facts you and your agent need to have at your fingertips in order to induce buyers to act:
• Knowledge of all local, state and federal tax incentives available to residents of your area
• Knowledge of all projected closing costs
• An understanding of the buyer’s financial and domestic qualifications
• Complete knowledge of the school system and all community services and costs
• Expertise concerning the history and composition of the home
• Knowledge of any planned growth in the area
Step 2: Provide Incentives
The “incentivizing” (no, that’s not a real word) of your Minneapolis loft condo involves several factors. Some incentives may be more creative than others. Here are a few ideas:
• Offer a one-year home warranty program through a third party provider. This is a popular way to relieve buyers of some of their reservations. The idea is based on getting rid of unexpected expenses and the possibility of hidden costs.
• Have the seller pay part of the closing costs.
• Combine the above two incentives with a flexible closing date to make Minneapolis condos for sale that much more attractive.
Want help “incentivizing” your Minneapolis loft condo to get it sold? Give me a call today at 612.877.1676 or email me at ben@cityoflofts.com to find out how I can help sell your Minneapolis/St Paul loft condo.
Europe, or more correctly, Greece, is having a debt crisis that may end up being a great boon for national and Minneapolis loft condos for sale. The euro, Europe’s currency, dropped drastically and Europeans responded by exchanging euros for the American dollar.
Help for Minneapolis Condos and Minneapolis Lofts for Sale
As more money pours into the U.S. “safe haven,” interest rates drop. Although interest rates may rise again once global economies begin to recover, the real estate market will benefit during this period of European instability. In fact, the mortgage markets are already benefiting.
On May 20, Bankrate.com, known for its accurate reporting of average national mortgage rates, reported the lowest 30-year fixed-rate mortgage in almost 25 years. At the time of the report, national averages hit at 4.96% for a 30-year fixed mortgage, 4.34% for a 15-year fixed and 4.14% for a 5-year ARM (adjustable rate mortgage).
Pessimists vs. Optimists
Pessimists believe that the low mortgage rates won’t affect home sales, because of the large influx of buyers who beat April’s tax credit deadline. In short, their view is that all the eligible homebuyers have already signed closing papers. They think that a few more buyers may trickle in before the busy season for real estate is over, but their general attitude is that the fat lady has already sung.
Optimists, as usual, have a much brighter point of view about the economy. Banks, they say, are finally letting some of the much-talked-about shadow inventory into the light. Unemployment seems to have slightly reversed, retail sales are up and manufacturing inventories are increasing – all of which indicate a stabilizing economy. Although even optimists aren’t betting on a huge real estate boon, they do point to an uphill trend.
Questions for You
Which are you, an optimist or a pessimist? And, how can there be such a big difference in real estate market outlook when all the experts are looking at the same information? Lastly, if you’re trying to sell your Minneapolis loft condo, can you really afford to be pessimistic?
Here’s a hint: the attitude you have about your chances of selling will carry over to the results you achieve. Think positive, even when you hear about downturns. You’ll have a better chance of getting your Minneapolis loft condo sold than other Minneapolis condos for sale!
If you’d like to sell your Twin Cities condo loft, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.
“Use a picture. It’s worth a thousand words.” – Arthur Brisbane
One photograph can have a bigger impression on an individual than an entire essay. With the number of potential buyers searching for Minneapolis condos for sale online, vivid photographs have sprouted everywhere. In fact, good photography can make that slight difference between having your home passed over and selling it.
If you’re considering adding your home to the online list of Minneapolis condos for sale, you need to think about photos – and those photos need to be good. Just like the home itself, the photos need to stand out from the crowd. Here are a few tips:
Talk to your agent about what’s “hot” right now. Obviously, your strongest selling points are what buyers are looking for now. Two years ago, buyers were looking for fewer square feet, stepping away from the McMansions. Last year, it was decks and patios. This year, it could be your beautiful, 2-acre backyard with the play set. If you have a selling point, capitalize on it with fantastic photography.
Use the most favorable lighting. High noon sunlight is harsh and often highlights exterior problems that even you may not have noticed. When taking exterior pictures, choose lighting that draws attention to the positives. For instance, one of the most beautiful real estate images I’ve ever seen was a home with all the lights on. The sun was almost completely down and served to accentuate the beauty of the home.
Take as many pictures as you need to get the perfect shot. A shot that’s slightly twisted to the side may not seem like something to throw away, but it can distort the appealing lines of a Minneapolis loft or condo. Because photos are two dimensional and flat, even the slightest left or right slant can make the home look like it’s looming, falling in or disproportionate.
The ability to use photos to show off your home on the Internet has been a huge boon for those with Minneapolis lofts for sale. However, a poor photo can do more damage that having no photos at all. If you can’t seem to take a picture without the image blurring, slanting or looking distorted, hire a real estate agent who can get the job done for you.
Looking for a real estate agent who knows how to showcase your home in pictures? Give me a call today at 612.877.1676 or email me at ben@cityoflofts.com.
The government’s first-time and repeat-buyer tax credits gave homeowners with Minneapolis condos for sale a lot of hope. The potential for getting their condos sold seemed infinitely higher. The credit expires at the end of this month though, and many condos are still on the market. If yours is one of them, what should you do?
Don’t Panic!
The first inclination for many homeowners with Minneapolis condos for sale or a Minneapolis loft is to panic. Often, it’s during the hard periods of life that something miraculous happens. You find the job of your dreams after searching for two years for any kind of job at all. Your life has been plagued by bad relationships so often that you’ve quit looking and then – out of nowhere – your soul mate walks up. You need to sell your house, money is tight, you might have to walk away… and a buyer appears, ready to close immediately.
Don’t scoff; it happens. In fact, life is so full of “sudden happenings” that the miraculous becomes common. By allowing panic to get in the way, you may be locking the door that opportunity knocks on.
Look At Your Options
Sometimes, we’re so full of worry that we miss obvious possibilities. Now is a perfect time to take a deep breath, clear your mind of worry (as much as possible) and look at what you’ve done to sell your home. Once you’ve outlined what you’ve done, you’re then free to look at what you can still do. Here are a few things you might not have considered:
•Research owner financing– Owner financing opens the door to many potential buyers, but it also provides benefits to you. For instance, if you have a lot of bills that need to be paid, the down payment from the buyer may be enough to take care of the important ones. Additionally, monthly payments from the buyer may be enough to keep you afloat while you’re looking for a job, trying to pay rent or feed your family.
•Create a “honey do” list – If you’ve lived in a home for several years, you’ve probably become used to cracks in the walls, peeling paint or squeaky doors. Invite an honest friend or your real estate agent to look around for you and help you create a “honey do” list. If you’re handy, a lot can be fixed with very low cost. If you’re not, hiring a handyman may be something to consider.
•Reassess your marketing – If your home hasn’t had a single view and has been on the market for quite a while, you may not have the marketing reach you think you do. If pictures of your home are on the Internet, make sure they show the home’s best features. Talk with your real estate agent about marketing techniques they recommend using.
It’s hard to blow off worry during times of high stress. However, if you can step away for just a minute to clear your head and think, you just might find your miraculous answer for taking your pad off the list of Minneapolis condos or lofts for sale.
If you’re ready to sell your condo or Minneapolis loft, I’m here to help. Turn the marketing of your home and worrying about it over to me. Call me today at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Those with Minneapolis condos or lofts for sale are buckling down for the long haul, but exactly how long will that be? I spent a little bit of time roaming the Internet to get the general “feel” from people on the housing market. It turns out that the answer all depends on who you ask…
Housing Predictor
Housing Predictor.com says, yes, the housing market appears to be making a rebound. However, that rebound, says economist, John Hines, is a false front. The government is pushing the rise in sales to make the housing markets look good and increase buyer confidence. Will the market ever get back on track? According to Hines, if Congress can get the lending pipeline going again, we might finally see a bottom around the third quarter of next year.
The Ledger
According to an article at The Ledger, Stephen Blank of the Urban Land Institute isn’t at all optimistic. Blank says there’s no quick fix, and that 2010 will be sobering. While the housing market is being helped by various factors, the foreclosure rate probably isn’t going to drop and lenders aren’t lending. Blank worries that financing may be lacking, even for those wanting to buy. He doesn’t see the market doing much for another year.
CBS Money Watch
The best article I’ve come across so far, however, was written back in June at CBS MoneyWatch. The article says give the market at least seven years to recover. The author doesn’t just quote doom and gloom, however. She has some great points for people with Minneapolis condos for sale. I highly recommend the read, but here is the quote that stuck firmly in my mind:
“If you are a seller, get realistic about what you can get for your condo or loft. With so little upside in the foreseeable future, you may be better off to sell, even at a loss, since you can probably get back into a similar property at a lower price and very low interest rates.”
It’s a buyer’s market; the supply of empty homes is much higher than the demand for them. If you have one of the Minneapolis lofts for sale and it’s not selling, you may need to change your mindset a little. In this buyer’s market, sellers may just have to bite the bullet.
Ready to buy or sell? I can help. Give me a call today at 612.877.1676 or email me at ben@cityoflofts.com.
There’s a group of individuals constantly overlooked when someone has a loft or condo for sale in Minneapolis. It’s not just newlyweds, families and women looking for loft or condos. Men are on the look out, too. So what are they looking for? Here are a few points on the list:
Location, location, location – Most men want a place close to their job. No long commutes, no hours on the highway. In fact, it’s one of their biggest considerations when choosing a loft or condo.
The Man Cave – Is your loft or condo for sale in Minneapolis set up with a man cave? Many men dream of having an extra room that can be converted into a place for recreation and entertainment. If you already have a man cave, you’re ahead of the competition!
Surrounding area – In a fun survey, Sperling’s BestPlacesexamined America’s cities and marketing trends to find the “Top 50 Manliest Cities” in the U.S. Believe it or not, Nashville took the top place as the Mecca of manliness. Why? A few reasons:
High number of NASCAR fans
High number of BBQ restaurants
Popularity of hunting and fishing
What other things did Sperling’s look at to decide “manliness?”
Major league sports teams in a city, nearby NASCAR events, monster truck events and local drag racing strips, among other sports venues
Memberships in motorcycle owner groups, bowling, hunting, woodworking, DIY loft or condo improvement
Number of manly retail stores, such as steak houses, sports bars, general hardware stores, sportsman stores, etc.
Percentage of condos subscribing to manly magazines
So what does all this mean to you? If you have a loft or condo for sale in Minneapolis with manly decor as well as surrounding attractions, you have a match made in heaven for the busy bachelor. Okay, so women like monster truck events, motorcycles and DIY, too. And, okay, so the survey is a little silly. However, if you’re trying to sell that loft and are having no luck, it’s definitely something to think about.
If you’re trying to sell your loft or condo, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.Check out my website at cityoflofts.com for your next loft or condign Minneapolis.Good choices are C | W lofts in NorthEast, Zenith condos in the Mill District, 730 lofts in the North Loop, and Track 29 townhomes in Uptown Minneapolis.
If you have a Minneapolis loft for sale or you’re thinking about buying a loft to flip it, here’s something to keep in mind: walking distance. Why? Because a new study commissioned by CEOs for Cities shows that lofts or condos within walking distance of amenities sell for more.
Environmental concerns are rising. More people are walking whenever possible and would rather walk than drive. They’re also becoming more environmentally conscious, as well as health conscious. If there is a Minneapolis loft or condo for sale within walking distance to schools, parks, restaurants, coffee shops, libraries and shopping areas, it’s more likely to be snatched up.
This is true even in the current economy. “Walk-ability,” says Joseph Cortright, the man who analyzed the data, “adds value to residential property just as additional square footage, bedrooms, bathrooms and other amenities do.”
In many places, walk-ability can lead to a sales price of as much as $34,000 more than in areas where you can’t get around without a car. Of course, this isn’t true for every city. In Las Vegas, more walk-able areas correlated to places with lower housing cost. Bakersfield, California, didn’t show any difference at all.
Why is being able to walk around such a big deal? Several reasons:
•The more walk-able neighborhoods usually have better mass transit systems.
•People living in walk-able areas generally weigh less, by at least seven pounds.
•Less money is spent on gas.
•Car owners don’t need to drive as often, and when they do, they don’t have to go as far.
What does this mean for you, the loft owner? If you live in a walk-able neighborhood and have a Minneapolis loft or condo for sale, you have an excellent selling point. Make sure you tell your real estate agent how easy it is to get around. With this knowledge, they can market your home towards all those people looking to use a little bit more leg power and a little bit less engine power. What’s your walk score?
If you’re trying to sell your loft, or looking for a loft / condo in a walk-able neighborhood, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Just because you’ve found some interesting Minneapolis condos or lofts for sale doesn’t mean your Minneapolis property search is up. There’s much more to do before signing those closing papers, and one of the biggest is having the home inspected. In fact, getting a home inspection will probably be drilled into you by your real estate agent. Yes, it’s that important.
What can you find out from a home inspection report?
Although many people do get a home inspection, just as many have a difficult time deciphering the reports to find out what’s serious and what isn’t. To make it worse, inspections vary from state to state. Fortunately, the National Association of Certified Home Inspectors, who has a list of inspectors all around the United States and Canada, has a specific set of guidelines.
General Inspection
A general inspection doesn’t require a specific license. It covers such things as:
•Structure– how well the walls, ceiling, foundation and more are put together
•Exterior evaluation – landscaping, elevation, drainage, windows
•Plumbing – Checks the condition of piping and identifies the materials used
•Systems – water heaters, duct work, air conditioning, chimney, furnaces, sprinklers
•Garage – Slab, firewall, garage door
•Appliances – including smoke detectors
•Electrical – main panel, types of wiring, grounding, circuit breakers, light fixtures and more
The inspection reports will state whether Minneapolis condos or lofts for sale have serious health and safety issues, systems malfunctions, foundation problems, and moisture and drainage problems.
Special Inspection
Some things require a specific license for inspection. Although you may not want to spend the extra money, these things can cause the “sick house syndrome” (people getting sick a lot for no recognizable reason). These problems should not be ignored:
•Asbestos
•Radon
•Formaldehyde
•Mold, mildew and fungi
•Rodents
•Lead
•Methane
•Radiation
Some issues aren’t big and can be dealt with fairly easily. Other things, however, are expensive fixes and usually deal breakers. Before you sign closing papers on one of the Minneapolis condos or lofts for sale, get that inspection done to find out what you’re really getting.
If you’re looking for a healthy home in good condition, I can help. Call me at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Are you looking at condos for sale in Minneapolis and feeling overwhelmed by the choices? Back in the Dark Ages before the Internet (1986 or so), if you wanted to look at a house, you had to call a real estate agent, find out the address and then physically drive to the house. Thanks to the Internet, however, you can start narrowing down your choices before you ever talk to your agent.
What do you need to know?
Looking online can give you the information you want to know about the lofts for sale in Minneapolis. However, if you just go surfing on the Web, that information can be as overwhelming as the number of choices. Before you start shopping online, make a list of the things that are important to you about the city or neighborhood in which you want to live, such as:
• What are the average property taxes in the neighborhood?
• What is the average utility cost for the loft?
• What is the neighborhood like?
• How high is the crime rate in the neighborhood?
• How good are the schools?
• What is the entertainment like?
Once you have your list of questions, go online with an eye to answering them. Here is a list of links that might help you on your quest for information:
My Government Website – Sunshine Review: Here you can find a list of cities with official websites. Choose the city you’re looking for and be magically transported by way of the Internet to that city’s official website. You’ll find all the great stuff that calls people to move to a particular city, including attractions, businesses, restaurants and beautiful housing developments.
City Data: City Data is just that - a website with nothing but data on U.S. cities. You’ll find the nice and not so nice information about any city. Crime rates, shortest commute, weather patterns and more, all at your fingertips. The only drawback is that the information is two years old.
Interest: Interest.com will show you the current mortgage interest rates for the area you’re interested in.
By gathering all this information, you have a much better chance of choosing one of the lofts for sale in Minneapolis that fits your needs. Once you have it all, you can search online or take the information to your real estate agent and get help with your house hunting.
Are you looking for the perfect house? Let me help. Call me today at 612.877.1676 or email me at ben@cityoflofts.com for more information.
Many putting up their loft or condo for sale on the Minneapolis market don’t have a lot of available cash to spruce it up. While staging houses is a definite plus, it costs, as does many of the other suggested “to-dos.” Here are a few cheap, easy ways to make your loft or condo look more inviting to buyers:
1. Put up your personal stuff
Not every buyer looking at a loft or condo for sale in Minneapolis appreciates the fact that someone still lives there. Putting away the following things can help the buyers’ see themselves in the condo:
• your pet’s things (toys, litter box, bowls)
• your medications, toothbrushes and toilet accessories
• any toys
• knick-knacks and personal pictures
• putting up out-of-season clothes or clothes you don’t wear very often to make your closets look bigger
• taking one piece of furniture out of your bedroom
• packing up the small appliances in your kitchen
3. Touch on the trends
Chances are that some of the buyers are paying attention to celebrity trends. Feng shui is a big one, and you can do your part with just a few touches:
• add a fresh bowl of fruit to the kitchen
• put a comfortable couch or chair on the east side of your living room or den
• get rid of reds
Whether you see or feel a difference doesn’t matter. Keep in mind that you’re trying to appeal to potential buyers of your loft or condo for sale in Minneapolis, not make the loft or condo more livable for you. If it helps, pretend that you’re the buyer, seeing the home for the first time.
If you’re trying to get your loft or condo ready to sell, I can help. Call me at 612-877-1676 or email me at ben@cityoflofts.com for more information.
