If everyone had the ability to sell their existing home or the financial resources to make the purchases, there are many great homes on the market at exceptional prices in the Brainerd Lakes area of Minnesota.  For every home that sells in the Brainerd Lakes area of Minnesota, 15 properties remain on the market. The median sales price of a home in the Brainerd Lakes area dropped 9 percent and is now at $154,425 according to the Greater Lakes Association of Realtors.
The Brainerd housing market is lagging behind the Minneapolis-St. Paul-Bloomington market, which was recently ranked the top healthiest market in the nation.  The Brainerd housing market is moving on a slow, steady road to recovery as the number of homes for sale decreased and closed home sales increased. Closed home sales were up 9 percent over last October; all told, 206 properties closed last month compared to 189 a year ago.
       Overall, active listings were down 11 percent and new listings were up 2 percent. The month’s supply of housing has dropped to 16.8 months from 19.3 months, meaning that it would take 16.8 months for the existing inventory to be sold at the current rate of sales.

     If you are interested in a seasonal property or a year around home in Central Minnesota- call Kathleen Lordbock with Keller Williams Realty Brainerd Lakes. The lakes are always beckoning whether it is summer wake boarding or winter ice fishing.  Combine those with the exciting snowmobiling opportunities, skiing and brisk winter walks in this wonderland.

     Come and see us soon!

Great blog- What will it sell for, not how much do I want or even how much do I need. Overpricing the property from the start even with subsequent price reductions later has been statistically proven to net you a lower price in the end. If you are aware that it will sell for less than you owe , then a short sale will need to be considered or not selling if that is a possiblity.

You will initially get some showings and those buyers will move on to purchase other homes that are priced at or under the market. Other agents will use your property as a comparison to sell other properties that are similar and well priced. The what will it sell for and where should we start need to be close together.

I like how Paula addresses this issue.  We as real estate agents work in the capacity of advisors or consultants. While we can give our buyers information and share all that we know about comparable solds, we are not the ones to set the offer price. If the buyers want to make a low ball offer that makes our hair stand up- we can refuse to do so and let them move on to another agent or we can go ahead and make it, hoping it will be accepted, countered or flat out rejected.  In that way, they hopefully learn a small lesson- the listing agent gets a good laugh and life continues on.

Lawmakers, housing industry leaders, and policy strategists explore solutions on REALTOR® TV to our current housing market problems. Senator Johnny Isakson states that he feels the correction will take seven to ten years. Ron Phipps, National Association of Realtors President declares that the objective in the cure should "do not harm" and that in time the problem will resolve itself. No new appraisal re-financings and other creative ideas are presented.

Janice did such a great job on this presentation that I had to share it. Home Staging can make a huge difference in the way a property is perceived and reflect in the desirablity and value. From an appraisors point of view the number of bedrooms, square footage and style of home remain the same. From a buyer's point of view those things also do not change but they look differently. If a 3 bedroom is perceived to be spacious compared to a crowded 4 bedroom home and the number of bedrooms is not crucial- the clear choice may be the lovely staged 3 bedroom.

HAFA is another one of those terms thrown about in Short Sale discussions and pronounced Hoffa or Halfa. It has not been the most successful of the Short Sale program attempts but is far more successful than the loan modification programs. No matter how you choose to pronounce it, the letters stand for Home Affordable Foreclosure Alternative. HAFA sets a structured time frame for the Short Sale process but does not always hit their own goals. None the less, the financial incentive to homeowner's is a powerful carrot to dangle as the journey is long and stressful to a successful closing. But when it does happen, it is sweet!

Buying a first home in the Brainerd Lakes area of Minnesota is a huge step and definitely not an easy decision. Anyone entering into this process for the first time deserves special attention from a real estate professional that is prepared to walk them step-by-step through the process.
I'm here to provide you or any first time home buyers that you know with that exact level of service.

It seems to make perfect sense that as a first time homebuyer, the first thing to do is to shop for homes. Many start by investigating the market in a desirable area and finding that perfect property. Then, they contact a mortgage professional. Unfortunately, this is when the dream can fall apart for potential buyers!  Essentially, they've begun the process backward. When a bank or lending institution declines a mortgage loan, for whatever reason, the potential homebuyer can be left frustrated. Buyers then face the prospect of having to start their search again, seeking a new set of properties that fall within the boundaries of the mortgage company's approval.   Homes in a lower price range, often do not measure up to what they had been viewing in a higher price range.

The opposite may also be true and they actually qualify to buy in a higher price range! Smiles all around for this.

For the real estate professional, the first question to ask the client isn't, "What kind of house are you looking for?" But rather asking them, "Have you been pre-qualified for a mortgage?" Unless the buyer is paying for the house with cash, a pre-qualification is an essential element in the buying process.  

The pre-qualification process isn't difficult, and as a result, buyers will know exactly what they can afford, which in turn clearly defines their choices. This common sense approach can save real estate professionals time, as they can direct clients to homes that fall within their approved price range, rather than those they can't afford. It can also save buyers a lot of potential heartache and disappointment, removing the lure of falling in love with that "perfect home" that's out of reach and replacing it with a home that, instead, will be affordably just right.

In order to make an offer on property here in the Brainerd Lakes area of Minnesota. we need to include a pre-approval letter from your lender with the purchase agreement, along with earnest money. That shows you are serious and ready to purchase.

I would truly appreciate you passing my contact information their way. I guarantee to take good care of them and to help them on their way to finding that perfect first home.

Kathleen Lordbock, an agent at Keller Williams Realty Brainerd Lakes, earned the Harris Real Estate University Certified Luxury Distressed Property Designation, having completed extensive training in negotiating and closing short sales for the higher end market at at time when the recession forces more luxury homes into foreclosure.

Lordbock has successfully listed and sold many Short Sales and assisted other fellow agents with their properties being sold short.

She has earned the National Association of REALTORS® Short Sale and Foreclosure Resource certification, is a Short Sale Superstar and many certifications in Short Sales and distressed property. As the owner of Brainerd Lakes Short Sales and a partner in Property Pro~911, she enjoys being part of the solution.

Rates are at a record low after steadily declining throughout May, primarily due to uncertainty in the global and domestic economies. While these incredible rates represent a significant savings for home buyers, experts note that for the benefits to fully be realized, lending conditions must loosen so more buyers can take advantage of them. As overall economic activity gets back on track, rates will likely rise to keep inflation in check. In other words, the window of opportunity for buyers to lock in these historically low interest rates may not remain open much longer.

In our lovely Brainerd Lakes are of Minnesota, we have homes in every price range, condition and location. Investment properties abound with many duplex and single homes at great prices to convert into rentals.

 

 

 

The Brainerd Lakes area is looking like a the summer playground that it is.  With our sky blue waters and lush green fields and forests, there is something for everyone. Right now with our inventory of homes on most lakes and other desirable locations, one's attention goes to the interest rates for mortgages and they are looking good, as well.