Monday, May 21, 2018

Weekly Market Activity Report For Week Ending May 12, 2018

Inventory and days on market both continue to skim along at historic lows, while buyer demand is creating competitive purchase offer situations that are increasing the number of homes sold for more than the asking price. This practice is nothing new in more popular areas, but higher offers are becoming normal outside of the hottest cities and neighborhoods. Affordability is a challenge for some potential buyers, yet prices still rise in an environment of economic confidence.

In the Twin Cities region, for the week ending May 12:
 • New Listings decreased at 2,073
 • Pending Sales decreased 5.5% to 1,466
 • Inventory decreased 23.9% to 9,446

For the month of April:
 • Median Sales Price increased 8.9% to $266,750
 • Days on Market decreased 10.2% to 53
 • Percent of Original List Price Received increased 0.7% to 99.8%
 • Months Supply of Homes For Sale decreased 20.8% to 1.9

Publish Date: May 21, 2018 • All comparisons are to 2017
All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime

Thursday, May 17, 2018

Coldwell Banker Burnet Waterfront Home Tour!

This Sunday, May 20th, Coldwell Banker Burnet will host is Annual Spring Waterfront Open House Tour and we have a gorgeous property on the shores of Lotus Lake available!

Don't miss this opportunity to own 228 feet of lakeshore on Lotus Lake! With 1.9 acres of northeast-facing shoreline, this property is the perfect place for your in-town cabin or provides a gorgeous building site for your dream home! Enjoy easy access to all the amenities of downtown Chanhassen and the charming Village of Excelsior. Students attend Carver County Schools. Property can be divided into two confirming lots or kept as one parcel.


7401 Frontier Trail, Chanhassen MN 55317

Eric and Sharla Stafford - 952-470-2575
Stafford Family Realtors
Info@StaffordFamilyRealtors.com

Tuesday, May 15, 2018

Weekly Market Activity Report For Week Ending May 5, 2018

Year-over-year percentage changes for housing metrics like inventory, median sales price and days on market have sometimes looked dramatic over the past few years in most markets across the country not named Houston. But as faster sales and higher prices persist, another trend is beginning to emerge: reliability. Although more market balance is preferred, the current situation has proven to be surprisingly sustainable, at least for the time being.

In the Twin Cities region, for the week ending May 5:
• New Listings decreased 13.9% to 2,054
• Pending Sales decreased 10.0% to 1,456
• Inventory decreased 23.2% to 9,155

For the month of March:
• Median Sales Price increased 9.8% to $258,050
• Days on Market decreased 21.9% to 57
• Percent of Original List Price Received increased 1.1% to 99.1%
• Months Supply of Homes For Sale decreased 22.7% to 1.7

Publish Date: May 14, 2018 • All comparisons are to 2017
All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Thursday, May 10, 2018

Bathrooms Overtake Kitchens as Most Popular Remodeling Project


national home remodeling month
national home remodeling month
The kitchen is king among the spaces with the most impact on a home’s identity. But having a beautiful bathroom is just as, if not, more important for many home owners.
In fact, bathrooms overtook kitchens as the most popular remodeling project, according to a new NAHB survey. NAHB has released the results highlighting the most common remodeling projects to kick off National Home Remodeling Month in May.
“Small-scale renovations are slowly becoming just as popular as large-scale projects, as seen with bathroom remodeling becoming more common than kitchens,” said 2018 NAHB Remodelers Chair Joanne Theunissen, CPG, CGR, a remodeler from Mt. Pleasant, Mich. “Home owners are finding cost-effective and shorter-timeframe upgrades can also add comfort and value to their homes.”
In the survey, remodelers reported the most common projects in 2017:
  • 81% did bathroom remodeling
  • 78% did kitchen remodeling
  • 49% did whole house remodeling
  • 37% did room additions
  • 30% did window/door replacements
While remodeling is commonly associated with kitchens and baths, demand for green upgrades continues to swell as home owners seek to save on utility costs, improve air quality and increase the value of their homes.
An additional survey by NAHB Remodelers showed that high-performing, low-emissivity (Low-E) windows are the most common green-building product installed by residential remodelers. Programmable thermostats and high-efficiency HVAC systems also ranked highly among the most common green products used.
National Home Remodeling Month is sponsored by AmerifirstBuildDirect and Paslode.
For more information about remodeling, visit nahb.org/remodel. For a copy of the full survey, please contact Kristin LeMunyon.

Reposted from Coldwell Banker Burnet Bambu - 

Wednesday, May 9, 2018

Weekly Market Activity Report For Week Ending April 28, 2018

As with last spring, the home-purchasing season will be competitive this year. Demand is still strong, especially in light of rising mortgage rates. Savvy consumers will want to get into a home before rates go up again. Amidst an environment of low inventory, buyers need to remain watchful of new listings and make their offers quickly.

In the Twin Cities region, for the week ending April 28:
 • New Listings decreased 7.2% to 1,761
 • Pending Sales decreased 9.5% to 1,389
 • Inventory decreased 23.5% to 9,051

For the month of March:
 • Median Sales Price increased 9.8% to $258,000
 • Days on Market decreased 21.9% to 57
 • Percent of Original List Price Received increased 1.1% to 99.1%
 • Months Supply of Homes For Sale decreased 22.7% to 1.7

All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime

Thursday, May 3, 2018

4 Things Smart Homeowners Always Know to Do in May


The lazy days of summer officially kick off Memorial Day weekend.

Giving your home a little extra love this month can save you time and money.

#1 Chill With a New Fridge 
Image result for refrigerator
Is yours leaking water, cooling less efficiently, or just too limited on storage space? May is the best month to buy a new refrigerator.

New models hit the sales floor in the summer, and stores need to clear out the old ones to make room. Need a stove instead? Best to wait until fall for other kitchen appliances. That’s when they go on sale.

#2 Punch Up Exterior Paint
repaint exterior house
Winter’s freezing temps and wet weather can be tough on your home’s exterior, making it look a little drab come May. But that’s more of an opportunity than a problem. Because the weather in May (in most regions) offers the optimum temperature range for painting your home’s exterior (50-80 degrees Fahrenheit).

While you’re repainting, also repair damage to trim and siding. You’ll not only have a satisfying sense of accomplishment, you’ll boost your curb appeal.

#3 Get a Deal on a Mattress
mattresses
The older your mattress is, the more dust and mites you’ve got hiding in there. Eeewww. Ditch that yucky mattress for a new one in May when the industry clears the decks (or box springs? ha!) to make room for new merchandise.

You can find high-quality ones at deep discounts, saving hundreds of dollars.

#4 Deal With Overflowing Closets
Image result for overflowing closet
Experts estimate we wear only 20% of our wardrobe. So why let that useless 80% take up so much storage space in your home?

Right-size your wardrobe now for tidier closets and faster dressing. Put the sentimental clothes you can’t bear to part with (your college sweatshirt that doesn’t fit anymore) and clothes you rarely use but still need (a suit, formalwear) in storage bins. Under-the-bed bins work.

Look for deals on storage items at Memorial Day sales.

Re-posted from an article published by Houselogic by KELLEY WALTERS

Tuesday, April 24, 2018

Weekly Market Activity Report For Week Ending April 14, 2018

One begins to wonder just how long the housing market can work in the favor of sellers. Low inventory continues to create a competitive situation for buyers that has sales prices meeting asking prices and often going over for well-priced homes that show well. As long as buyers continue to form new households and feel financially confident within an inviting economy, this could be the state of residential real estate for quite some time.

In the Twin Cities region, for the week ending April 14:
 • New Listings decreased at 1,653
 • Pending Sales decreased 14.0% to 1,258
 • Inventory decreased 24.2% to 8,752

For the month of March:
 • Median Sales Price increased 9.8% to $258,000
 • Days on Market decreased 21.9% to 57
 • Percent of Original List Price Received increased 1.1% to 99.1%
 • Months Supply of Homes For Sale decreased 22.7% to 1.7

Publish Date: April 23, 2018 • All comparisons are to 2017
Original data supplied by Minneapolis Area Association of Realtors