Ben Kolkman's Real Estate Blog

Trampled by Turtles on Latenight TONIGHT!

Tue, 24 Apr 2012 11:49:24 -0700

Trampled By Turtles is the musical guest on Latenight with Dave Letterman TONIGHT!

Please help support my friends and former client! These guy play fantastic Bluegrass you are going to love! I love it anytime Minnesota / Twin Cities things get big, but this is just out of this world. Its been awesome watching these guys get to where they are. Congratulations Dave Simmonett, Dave Carroll, Tim Saxhaug, Erik Berry and Ryan Young.

Home Selling Tip: Southwest Minneapolis & Edina Minnesota

Tue, 17 Apr 2012 14:33:15 -0700

How to Sell a Home in SW Minneapolis & Edina Minnesota

Home Selling Tip: List ALL Improvements

Getting the Most for Your Home

I spend most of my time in selling real estate in Southwest Minneapolis and Edina Minnesota. Homes around here are typically older homes (1900-1950 in Southwest Minneapolis and 1930-1970 in Edina). Most have also been remodeled and improved upon over the years. In the competitive market of 2012 home sellers need to do more than just post a sign in the front yard and list their home in the MLS. You can impress homebuyers and help your home rise above the fray by creating a detailed, comprehensive and honest document of your homes physical history over the years. I like to call it your Home Story.

A good Home Story is not a simple “Features List” it is a narrative history of the physical property to the best of your information. Buyers love information and details, and the internet provides most of it. Sites like Zillow.com & Trullia.com provide a ton of statistical analysis and property information. Our local REALTOR association (Minneapolis Area Association of REALTORS) also publishes some of the industry’s best market analysis tools, as well as individual home sales history. Buyers love this info, but when they get to your home they want the information they cannot find on line. And no one can provide it unless you do.

Homebuyers in Edina and Southwest Minneapolis want to know what was done to the home, who did it, when it was done, why, and what it cost. You need to tell your home’s story to tell buyers about everything your home has to offer. Most buyers, and shamefully most REALTORS, don’t know much about the physical make up of a home. What’s worse, homebuyers typically spend just 15 minutes in a home. No one could see everything in that short amount of time. That is why you give them your Home Story, so they can take it with them.

Key Features of Your Home Story:

Be detailed: Include the cost (or estimated cost) of the improvement. Say when it was done (approximate if you don’t know)

Be comprehensive: List everything! Include improvements that were there when you purchased the home. Use you best guess to date and estimate the cost of these items. Have your friends come visit to help. It’s kind of like proof reading, they see your home with “fresh” eyes. If you don’t know much about homes hire an inspector to help you ($300-400 tops) have an inspection done and you’ll basically have all the information you need. But be sure to tell the inspector, you want to know all the good things about your home and most importantly, you want to know why these are good things.

Be honest: Don’t fluff up or over sell things, homebuyers will sense a sales pitch a mile away. Especially when you’re guessing or estimating about things you have to admit that. Being honest will go along way to developing trust with the homebuyer. That may come in handy in the negotiations.

MOST IMPORTANTLY do not expect your realtor to do this. Most are not home experts; they know how to transact a sale and how to relate to people (hopefully). The best also know a lot about homes. Besides this is defiantly not something we get trained to do. Realtors do typically make lists of improvements and home features etc. that can be helpful when creating your Home Story. But if ask your realtor to write the your Home Story your get a simple “Home Improvements List”

Your Home Story will help your home stand out and rise above the competition. Remember this is not a basic bullet point list of “Key Features” or a “List of Improvements”. It is a narrative history. I have even employed the help of a copy editor in the past to help me make the story come alive. Some Home Stories are longer some shorter, you can use photos and lists and other elements of style to help it come together. You want it to look and feel like a good history text would. Interesting, engaging and informative, avoid sounding like a sales pitch.

There are no silver bullets, but good marketing materials will help. Do yourself a huge favor; invest the time and energy into creating a great Home Story. You’ll save yourself a ton of trouble by providing answers to most of the questions buyers will ask, you will sell your home faster and probably even get a little more money for doing so.

Good Luck!

March 28th Market Vibe: Edina and Southwest Minneapolis Real Estate

Wed, 28 Mar 2012 17:05:06 -0700

I've been touring a ton of homes lately, previewing for clients, and doing the open house thing. It's been awesome to see the quality of homes hitting the market this spring. I think that is the biggest change in the market in Edina and Southwest Minneapolis I've seeing. Really well designed remodels, clean homes, and solid marketing info is more and more common. Kudos to the sellers and Realtors out there today. Two things contributing...fewer bank foreclosures and short sales, and fewer bad Realtors. It's kinda like evolution, the strong have survived and the herd is healthier for it!

Lot's of my clients are excited this spring, buyers are ready to get in the market, and sellers are too. But I keep telling everyone the same thing, "The market isn't as excited as you are." We are still experiencing the same general market conditions as last year. I see the same recovery signs as everyone else but "recovery" is different than a "strong" market.

I've been dispensing my favorite advice a lot lately..."Buy your home and/or sell your home when you're life calls for it, not the market." Financial considerations are of course important, whether or not its financially smart to buy and/or sell is essential, as long as your ready to buy/sell. Hopefully you'll be in your next home for many years. But, if you don't know what the next 3 years may hold, renting makes sense.

Important market info:

Weekly Market Activity

March Market Activity

Thanks to Minneapolis Area Association of Realtors for this info!

The State of Real Estate: Edina and Southwest Minneapolis: January 2012

Tue, 07 Feb 2012 13:56:33 -0800

With January under our belt, I'm glad to announce, the Real Estate market in Edina and Southwest Minneapolis is really improving and shows signs of real recovery.

"Recovery" is a work I'm careful about using. For the past 5 or 6 years we've encountered waves of new crises, foreclosure crisis, bank crisis, credit crisis, economic crisis... crushing any recovery at the time. But strong fundamentals continue to fuel a strong Real Estate market in Edina and Southwest Minneapolis.

January has been beautiful in the Twin Cities, maybe it's the weather, or the good employment numbers, or the fact that people simply can't wait any longer to buy a home. In any case buyer activity is growing. Coupled with declines in listing activity, the result is improved inventory levels.

What does that mean for you? Not much if your buying or selling today. The market is still fundamentally the same, buyers want a great home in a great neighborhood for less and sellers are trying to figure out how to compete with short sales, foreclosures. The good news is that over the long run I believe median home prices are stabilizing and that demand for homes is rising. Maybe in a year or two we will feel the effects as the market begins to balance out. For now we are still squarely in a buyers market.

Some very interesting trends to watch...

1) New Home Construction: In the Edina and Southwest Minneapolis real estate market that means tear-downs, new homes built after tearing down the home that was there before. This in-fill or tear-down activity has not slowed down in spite of the slow market in general. One reason, cheaper land. As the purchase price of the original home and lot has been hammered, the end result is a better deal on the new construction home.

2) The best block always wins. As buyer activity improves across the Edina and Southwest Minneapolis real estate market you'll find areas where homes seem to always sell fast. The old adage applies here, "Location, Location, Location" everything else being equal buyers always buy into the best neighborhood they can afford.

3) Interest Rates: I'm so sick of saying this, but, interest rates are so low! If you need a reason to buy this is it. Do not wait, buy now. Even if prices do drop, a small tic up in the interest rates will balance out the savings.

Loving real estate Edina and Southwest Minneapolis, and loving this early spring time weather!

Ben Kolkman

Last Week’s Home Sales Edina and Southwest Minneapolis 1/9/12

Mon, 09 Jan 2012 09:59:11 -0800

Here they are ladies and gentlemen, the first home sales of 2012 in Edina and Southwest Minneapolis!

It was an impressive start to the year with 11 homes sold in Edina and Southwest Minneapolis, however, the highest sale price was only $675,000 for this Minnehaha Parkway 4 bed, 3 bath home in Lynnhurst.

One home sale in Edina that caught my attention was this Kellogg listing which sold for $340,000. This could be a new tear down opportunity. While this particulat part of the neighborhood isn't the most active for in-fill or replacement housing it is right on the edge of some of the hottest spots. Given the location and price, this could easily go either way, tear down or move in as is.

That's all for now. Good luck to everyne going back to work and or school today. Happy Monday!

Click here for: Home sales in Edina and Southwest Minneapolis week of 1/9/2012

I'm back! Spring in here and it's time to talk real estate market in Edina and Minneapolis

Fri, 06 Jan 2012 16:09:03 -0800

It's been a while since I wrote but I'm back in the mood as the spring real estate market begins taking hold in the Edina and Minneapolis housing market. As a native Twin Cities guy I am huge fan of winter and took some time off from writing to just enjoy the holidays and the season. The weather has been unseasonably warm, a blessing and a curse, but its time to start talking about the real estate market in Edina and Minneapolis!

During the 'off season' we still succeeded in selling and buying a good number of homes with our home buyer and home seller clientele. We handled some short sales which seem to be getting a little easier to transact (finally) here in the Edina and Minneapolis real estate market. Our sellers found some success in alternative marking techniques via Facebook and Twitter which helps keep quality, detailed info on their homes in buyers hands.

Historically, January brings new listing into the Edina and Minneapolis real estate market. Sales volume however, doesn't begin to heat up until mid February. On the minds of real estate professionals right now is wether or not this warm winter will spur buyers into action early or not. My money is on the historical trend. Personally, I still feel like winter is going to come, with a vengeance, I just hope by April we are back to sunshine and mud!

Happy new year and best of luck to all, especially to home buyers and sellers in the Edina and Minneapolis real estate market!

Significant Sale in Southwest New Construction Real Estate Market

Sun, 11 Sep 2011 15:57:36 -0700

Here is a significant home sale that just closed. If you are following new construction in St. Louis Park, Southwest Minneapolis, or Edina, this home represents a great value and sets something of a benchmark. This new construction home just sold for $683,000 with with 5 bed, 4 bath and 3,352 total finished sq. ft. (2,288 above ground). It is located St. Louis Park, Browndale Neighborhood, and sits right across the street from Browndale Park. I've toured this home and thought it was a very nice home. It lacks much of the detail found in more expensive homes but, given the price point that should be expected.

See the Home's Public MLS Sales Info

Most importantly I think this home represents the "best of" in "value class" new construction. The lot (and original home) was purchased for $238,500 and the new home was listed for $680,000 yielding $441,500 for construction costs, Realtor fees and builder profits. That's a tight margin by any stretch and sets an important new data point in this market.

As for the home itself, I give it high praise for;

1) It's location, in a rapidly evolving historic urban neighborhood where new construction and large remodels are filling in the old homes. There are a ton of other areas like this but the hot spots come and go quickly as you drive around blocks.

2) It's use of space on the small lot. The lot is just 0.18 acres, and the builder managed to get a nice home onto a small lot, opening potential for redevelopment other small lots.

3) The features and amenities are all there. Open floor plan, above ground laundry, nice master suite, etc...

On a sour note, I though this home also featured some suburban architectural elements, which put me off, and finished too much of the lower level which I prefer to use as storage, workshop etc.

The new construction real estate market in St. Louis Park, Southwest Minneapolis, or Edina is alive and well in this economy and has great upside potential. There are long term investment strategies in rental property that follow and exploit re-development patterns. There are, of course, short term strategies too, as this home represents.

In either case there are market fundamentals to follow when re-developing an old neighborhood. Adding the right features into a home that looks and feels appropriate to the area is one challenge the other is knowing where to buy and how much to pay.

Kudos to the smart builder and buyers of this well designed tear down and new build!

Minneapolis Real Estate Market Strengthens All Summer

Mon, 29 Aug 2011 12:14:22 -0700

Good news for buyers and sellers in the Minneapolis real estate market. By all indications our local market has been marching toward recovery and general health all summer. "Twin Cities home buyers posted their 14th consecutive week of double-digit, year-over-year gains" according to the Minneapolis Area Association of Realtors. http://mplsrealtor.typepad.com/theskinny/2011/08/weekly-market-activity-report-3.html Autum will present the real yeast of this trend. As school starts and the cool weather settles in market activity will decline. We will be looking to see how this off season activity compares to past years'.

We Need A Property Manager

Wed, 03 Aug 2011 10:18:27 -0700

Does anyone know of a good property management company for a small condominium building? I've been looking for a property manager to take care of our associations day to day business but the big firms don't seem interested and managing a small building and other small buildings it seems are managed by the ownership. Maybe this is an opportunity. Is this niche market that needs filling? Does anyone have a good recommendation for me? Are you a property manager interested in handling the business at our condo association? Please let me know!

Where Are the Most Valuabe Homes? Southwest Minneapolis, East or West Edina?

Fri, 08 Jul 2011 17:46:58 -0700

Over the period from 2005 to now a change in where the most pricey homes are located has occurred. It use to be the Southwest Minneapolis, East Edina and West Edina all boasted high price sales on a regular bases. Now a days its a different story. East Edina is the only area consistently and regularly putting the high end sales on the board.

East Edina's hallmark neighborhood of South Harriet Park has continued it's rapid redevelopment with tear downs, new construction and renovations, and has homes routinely selling over $1,000,000.

West Edina and Southwest Minneapolis however have not been so lucky. Sales north of $1,000,000 growing less common in these areas. The two maps below show this trend by mapping the top 50 home sales of 2010, and by contrast 2005.

In 2005 the top 50 sales were well dispersed between the three areas of Southwest Minneapolis, East Edina and West Edina:

By 2010 the top 50 sales were far more concentrated in East Edina:

Minneapolis Neighborhoods Map with Links to Association Websites

Fri, 08 Jul 2011 17:05:09 -0700

Minneapolis and St. Paul Neighborhoods are now available on NorthstarMLS Matrix for search and display to help serve you and your clients. But did you know that almost every Neighborhood has its own Website full of resources for its residents? Providing this information to your clients buying homes in those cities is a great service.

We created a map of the Minneapolis and St. Paul Neighborhoods that links to all of these sites. Have a client looking at or buying a home in Minneapolis or St. Paul? Send them the Neighborhood Website link!

Click here to open the map. Then click on any Neighborhood to open its Website.

Positive Trend Continues: April New Listing Activity Down 20% in Edina & 30% in Minneapolis

Sat, 28 May 2011 23:24:01 -0700

While other metrics such as median home sale prices, time on market, and inventory levels continue to cause concern, the number of new homes hitting the market each month is falling and that's great news for everyone. New listings have been down for a long time, no one wants to sell in a down market if they don't have to. If this pattern continues, eventually inventory levels will normalize.

Here in the Twin Cities we have been dogged by oversupply in the housing market for the past 5 years or more. You can blame which ever crisis you like, the foreclosure crisis, housing bubble, banking, or the economic crisis, all have contributed to oversupply. And regardless of what happens to interest rates, taxes, or lending requirements, as long as the supply of homes exceeds demand by a large margin home values will continue to fall.

A balanced or "Normal" inventory level is 4-5 months according to most authorities. That means that there are 4-5 homes for every buyer, or to put it another way, if no new listings hit the market the current supply of homes would last 4-5 months. In most of the analysis I do for clients I am finding 6-12 months of inventory depending on the location, and it has been this way since about 2008 (note: It was worse 2006-8).

For a while there the market was in "free fall" (2006-2008) crisis after crisis crashed down, supply was through the roof, and buyers dried up. Today feels more like a slow, steadily pulling out of the fall.

Homes Selling Faster Than You Think in Minneapolis and Edina

Wed, 13 Apr 2011 16:54:55 -0700

Contrary to what you might think, some homes are selling very quickly this spring. Home buyers and sellers in Southwest Minneapolis and East Edina (Linden Hills, South Harriet Park, Country Club, Morningside, etc...) may be surprised when they see some homes selling this spring as if it were 2004 again.

In fact, two homes on my block (Linden Hills) went up for sale and were under contract in less that two weeks. While the average time on market continues to linger around 5 months, roughly 10% of homes (17 of 158) sell in under 2 weeks in Southwest Minneapolis and East Edina.

When compaired to their competition (ake. others home in the same price range) these homes are almost always in better condition, and fully equiped with the features buyers are looking for. They also have one other thing in common, an attractive price. When fully loaded homes hit the street with an attractive price tag, buyers are snatching them up fast this spring.

Check out the 17 homes sold in less than 2 weeks this spring.

Make my Day

Sun, 10 Apr 2011 09:24:55 -0700

Newly weds called to search for their first home, Highland Park, nice people - thanks for making my day!

Minneapolis and St. Paul Neighborhoods Being Added to MLS

Sat, 09 Apr 2011 11:07:32 -0700

In a wonderful upgrade to the local Multiple Listing Service the Minneapolis Area Association of Realtors is adding Minneapolis and St. Paul Neighborhoods to its search functionality.

Neighborhood boundaries are more familiar to consumers than the the MLS Areas used by Realtors in the past. Adding them to the core MLS data base, which powers home searches on participating broker websites, improves consumer usability. All current listings are being automatically added to their respective neighborhood for accuracy of searches.

Empowering consumers to search by neighborhood is a long over due and highly celebrated update which is sure to be popular.

See Neighborhoods Map below.

Contact for more information on home searching or marketing Minneapolis or St. Paul neighborhoods.

Spring in Linden Hills Real Estate

Tue, 05 Apr 2011 22:42:16 -0700

As fast as the snow melts and tulips sprout, yard signs are popping up everywhere! Apparently everyone has been planing to sell or remodel their abode without consulting me!

Seriously though, it does make me wonder how many will succeed. In remodeling I'd call "success" adding value, in real estate it's obviously to sell the home. Either way it's never easy nor guaranteed. With as many upside down equity position as there are out there today it's often a scary situation as well.

I'll be checking back often with updates...Good Luck Neighbors!

Spring Market in the Twin Cities - Part 6

Mon, 08 Feb 2010 21:12:38 -0800

Pending sales for last week, up 16.4%. Great news as the spring market heats up. New listings are still coming in strong with 1584 home coming on the market last week. As spring continues the number of pending sales will dictate how many of these homes sell, and whether or not the market continues it's march towards balance, health, and/or recovery.

The pains home sellers are feeling notwithstanding, real improvements have been make. The average time homes spend on the market is falling and the percent of list price sellers are receiving is rising. Still prices are down in general. Perhaps the most important point to make is that while some area and price ranges are doing well, others are in completely the tank.

If there is a silver lining to all this it's that some opportunities are presenting themselves in this market. For example, homes in high end neighborhoods that are in really poor condition can be a great way to take advantage of this market. Poor condition takes a massive toll on price when buyers have so many other choices. If the homes in good shape but need a cosmetic over haul, you may have a diamond in the rough. Be sure it's in a great neighborhood though, like poor condition, less than ideal locations will be hurting for a long time before their recovery takes hold.

Spring Market in the Twin Cities - Part 5

Tue, 02 Feb 2010 11:26:21 -0800

Slow start to spring - Just like last year

2010 seems to be starting out just like 2009. I am still predicting (and praying!) for a further rise in the weekly pending sales number but, it didn't happen last week. The number of pending sales actually dropped a little last week, the number of new listings dropped a touch as well.

Over all inventory is down, a great long term trend we've been seeing and appears to be continuing. There are currently 6.99 homes for every buyer in the Twin Cities.

More to come next week... fingers crossed for a healthy boost to the pending sales number, but not holding my breath.

** Watch for a rise in weekly pending sale as the medicine we need to sure up home values.

See me on TV! Ben Kolkman on Sweat Equity this Wed. at 7:30

Mon, 01 Feb 2010 12:04:13 -0800

It's time again for another shameless plug. I hate to toot my own horn but who else would do it if I don't?! I'm sure my adoring fans also love these little heads up's so they never miss any of my self aggrandizing moments. HA!

I'm in another Sweat Equity episode this Wed. Feb. 3rd at 7:30 on the DIY Network. This episode deals with a suburban townhouse which the owner wants to spice up, while adding value, of course. With real estate opinions from Ben Kolkman, local real estate guru, and contracting advice from Amy Matthews, show host, the owner revamps her kitchen adding character, and style...but did she add value? tune in to find out...

Wednesday, Feb. 3rd at 7:30 central. On the DIY Network. Check you local listing for channel info.

Spring Market in the Twin Cities - Part 4

Mon, 25 Jan 2010 20:52:03 -0800

The first phase of Spring Market in the Twin Cities is the boost in listing activity. The second phase is increased numbers of sales. Now that the first phase is in full swing, we all waited with baited breath for the second phase to begin.

The number of new listings this week was the same as last week, a robust 1668. Expect to see about the same number of new listings each week from now till mid-summer.

There were only 571 pending sales this week, more than last week, but only 9.8% more. This is the number to watch if you're interested in the over all health of the Twin Cities real estate market. By mid-summer there should be around 1000 pending sales each week. The sooner we get to that point, and the longer we stay there the better.

I'll be back again next week for another update.

Spring Market in the Twin Cities - Part 3

Tue, 19 Jan 2010 20:12:33 -0800

Sales rising as new listings pour onto the market. Spring time in Minneapolis real estate is amazing. I'll update these figures weekly

The number of new listings last week rose 142% from the week prior, while pending sales posted the first weekly increase of the year. Spring is here folks, grab your boots and let go shopping!

This spring's listing activity is stronger than last year's. A significant number of these new listings have been on the market before, so don't be surprised if a few look familiar.

The rise in the number of pending sales is great news, but its to be expected this time of year. Sales activity was stronger throughout 2009 and really put a dent in the total number of homes for sale. Right now, there are about 20,000 homes on the market, a five year low, which is a good thing for everyone.

Spring Market in the Twin Cities - Part 2

Mon, 11 Jan 2010 13:42:34 -0800

Jan. 11 - Spring Market has started! Listing activity jumped last week, as predicted, with a sizable increase jumping up 54% from 446 new listings to 688. Pending sales stoped falling but have yet to rise, that should happen next week following all the new listings on the market.

** These numbers are for the entire Twin Cities market, and I share them for those interested in the overall market. There is an incredibul amount of variation from area to area, or between price ranges.

Spring Market in the Twin Cities

Thu, 07 Jan 2010 10:37:42 -0800

Twin Cities Metro Weekly Real Estate Activity

Believe it or not, the number of listings & sales is about to sky rocket in the coming weeks. It's amazing to watch. I'll update these figures weekly.

NEW LISTINGS

446 New Listings (as of Jan. 4th - down 49%)

874 New Listing (as of Dec. 28th)

PENDING SALES

392 Pending Sales (as of Jan. 4th - down 26.5%)

533 Pending Sales (as of Dec. 28th)

ROI on Architectural Design | Home Values and Doing Thing Right

Fri, 22 May 2009 14:47:13 -0700

Building and remodeling projects usually involve some discussion of value, or the return on investment. One of the often overlooked, and most valuable investments of any project is design. At every step, Architectural, Landscape and Interior Design have great return. Builders employing good design are finding success, even in today’s challenging real estate market.

Everyone wants to save money; do-it-yourself home owners, house flippers, speculative builders, even private remodeling projects, we all look for opportunities to cut costs. Especially in tighter times, we all want to do more with less.

But when success depends on profits, as is the case in speculative (spec) building, or house flipping, or even in private homeowners who want to increase home equity through home improvements, design is a critical component that can make all the difference.

Two examples of successful Minneapolis builders using design to build better homes and beat their competition are Replacement Housing Services* and Great Neighborhood Homes. Working primarily in Edina, MN both of these builders continue selling new construction spec homes in the most challenging market conditions ever seen. What’s their secret? If you ask me, its good design. The neighbors love these projects, as do the investors and lenders financing them. Look at the homes on their websites. The difference is clear.

Imagine two home built with similar budgets, sizes, features and amenities. The first one being well designed, architectural, based on other neighborhood housing styles, inspired by classic designs, complemented by modern features. The other home, simply built on the same standard builder “McHome Plans” used in millions of suburban communities throughout the country. Which would you prefer?

There is a fee for good design, of course, but the return is a home that stands head and shoulders above its peers.

While most builders face hard times (bankruptcy) today, the few who are building on spec successfully (and who still get funding to do so) are employing good designers at every step of their projects.

*The author is a member of the Replacement Housing Consortium, and provides real estate services to Replacement Housing Services.

Bi-Polar Market | Banks vs. Real Sellers | The Value of Convenience

Fri, 22 May 2009 11:11:35 -0700

Today’s real estate market is Bi-Polar. And there are no drugs to help a mentally ill real estate market; we just have to deal with it.

The two sides, or personalities, to this dysfunctional market; Bank Sales (Foreclosure, and Short Sales) and the good old fashioned Private Seller. The horror stories are common, the Bank refused to negotiate, or took months to respond, closing was delayed. While the prices on Bank homes might look attractive, buying from Banks take lots of patience and a flexible timeline. Private Sellers on the other hand, easy to deal with, willing to negotiate, and generally close on time, without any “hiccups”.

Sure we all want a deal, and we instinctively feel that buying a Bank home must be the way to get it. But, what is the value of time? What’s it worth to have your deal go smoothly?

Many of today’s more savvy (or perhaps “experienced”) Buyers have asked not to see Bank homes at all. After a few failed attempts at buying from a Bank they’ve thrown in the towel. In the words of one Buyer, “Just give me a good old fashioned seller who can actually sell their home to me”
Unfortunately Private Sales with out any Bank involvement are hard to come by in many price ranges.

Buyers believe me; Banks may “want” to sell, but their own bureaucracy gets in the way. Only cash investors with iron stomachs are truly set up to deal with the Banks terms and requirements.

Sellers listen; If you want to sell but don’t want to “compete” on price with these Bank homes, don’t worry. Get your home on the market! There are good Buyers looking for good ‘ol fashioned Sellers with nice homes that they can buy straight up, without hassle

Good Luck! - Ben Kolkman

Realtor, Sotheby's Realty, Minneapolis, MN