How to Win a Multiple Offer Situation in the Twin Cities

Want to sell a Twin Cities Home?  Click here to perform a full home search  Want to buy a Twin Cities Home?  Click here for a FREE Home Price Evaluation  Call us at (651) 481-6711 to answer any of your real estate questions.

The real estate market in the Twin Cities is getting very active, and this means that homes are now selling with more than one offer on them. This is great for sellers, but can be a struggle for buyers. Luckily, I have some tips for buyers in the Twin Cities looking to win the home of their dreams.

If you're a buyer in this market, make sure you're making full price offers on homes, or even offer a little more. In a multiple offer situation, sellers will not settle for less than what they ask for. Another thing I would recommend is to eliminate seller-paid closing costs. It's not a full price offer if you're asking for the full price but also having the seller pay the closing costs. 

If you put down a large amount of earnest money, that's another great way to let sellers know that you're serious about buying. Cash is always king in this instance because it eliminates financing and appraisals. However, if you're financing the home, make sure to have a solid pre-approval letter that states that you are ready and willing to purchase the home. 

Another important consideration is to ask the seller when their ideal closing date is. If you can match that date, they're more likely to accept your offer, especially when you allow them a few extra days to move out of the home. This takes a lot of stress off their plate, and sellers will appreciate this immensely. 

The main thing is to communicate with the seller and find out how to satisfy their exact needs. If you can do this, you have a very good chance of getting the home that you want.

If you have any questions about this subject, please don't hesitate to contact me!

Staging Your Home on a Budget

Looking to buy or sell a home in the Twin Cities? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (651) 481-6711 for a FREE home buying or selling consultation to answer any of your real estate questions.
Staging your home is one of the most important parts of the selling process. Most people think you need to spend the money to have your home professionally staged by a staging company. The truth is, you can stage your home much more inexpensively by following these 5 tips I have for you:

1. Declutter and depersonalize
You want to clean and organize your closets, so that the space looks bigger. An organized, clean home is crucial in showings. Your buyers have to be able to see themselves in your home, and this is the first step to accomplishing that

2. Fresh paint and carpet
These are two of the best investments you can make when selling your home. Updating the carpet and putting a fresh coat of neutral-colored paint on the walls is a great way to broaden your home's appeal.

3. Clean, clean, clean
Of course your whole home will require a deep clean prior to its showings, but you need to pay special attention to the kitchen and bathrooms. Clear out cabinets, purchase new bath towels, and swap out your old hardware and faucets for new ones. These are all inexpensive fixes that bring a significant return.

4. Modernize
Swap those old brass light fixtures out for some oil-rubbed bronze or nicke. Remember, all buyers want stainless steel appliances, too.

5. Neutralize
You don't have to paint all the walls and ceilings eggshell white, but bold and bright colors are not going to help you sell your home in today's market. Don't be afraid to use some color, but keep it in a neutral pallet. 

Thanks for taking the time out of your day to check out our blog. If you have any questions, be sure to give us a call or send us an email. We'd be glad to help!

Minneapolis and St. Paul Real Estate Update- What's Great About This Fall?

Looking to buy or sell a home in the Twin Cities? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (651) 481-6711 for a FREE home buying or selling consultation to answer any of your real estate questions.

A Change of Seasons

With kids going back to school and the transition to fall weather, we're also seeing changes in our area real estate market. We're starting to shift from a seller's market to a more balanced one. 

New listings have remained flat since August of last year and we're seeing more traditional sales, as opposed to the many bank-owned properties we saw on the market last year.

Here are the numbers:

• Active listings: Up 9% from a year ago, giving us a 4 month supply
• Pending sales: 5,200 units for month of August
• Median home price: Up 5% since last year
• Days on market: Just over 2 months
• Showings per contract: 17-18

Overall, we're looking at a pretty strong market here in Minneapolis and St. Paul. We've had 30 straight months where we've seen an increase in median home sale price, which is a great sign for sellers. For buyers, you're still going to need to make aggressive offers, even though inventory is starting to head toward a more balanced market.

That's our update for this week. If you have any questions about real estate in our area, don't hesitate to reach out to us. We've got the answers you're looking for, and would love to share them with you!