Eric's Blog

Pre-Foreclosure in Hanover

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 28 Nov 2009 01:55:51 -0600

Our team has a great opportunity for you to own a large two story home in the Hanover area. Property is currently with the bank and should be on the market in May. If you are interested in receiving information on new Foreclosure listings before they come to market or the first day on market, please contact us to be placed on our early notice list.

Several Foreclosures Coming to Soon in Maple Grove

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 28 Nov 2009 01:47:12 -0600

Our teaqm has several foreclosures coming to market in the Maple Grove area in the months of March, April and May. We currently have two townhomes, a single family home and a side by side duplex that area possed to available soon. Call or e-mail me to be notified of regarding the property information and pricing so you can be the first in the door when they become available.

More Road Construction- It's About Time!

Eric Helmers (Keller Williams Classic Realty N.W.) — Thu, 19 Nov 2009 03:02:21 -0600

MNDOT has finally received funding to complete the 610 exchange from Hwy. 169 to Hwy. 81 in Maple Grove. The construction starts with the closing of Hemlock and Revere Lanes in Maple Grove on 11/16/09. The new Hwy 610 extension will be a 2.74 mile long, four-lane highway from Hwy 169 in Brooklyn Park to County Road 81 in Maple Grove. The project includes two interchanges, or highway access points, at Highway 169 and Zachary Lane. The project also includes three overpasses, or highway crossings, at Jefferson Hwy., Revere Lane, and Hemlock Lane. A pedestrian bridge at Nathan Lane and construction of noisewalls along the corridor are also part of the project.

See link to project information:http://www.dot.state.mn.us/metro/projects/610/

Most residents of the Northwest suburbs are extremely excited about this road being completed. It will save hundreds of travelers time and gas when traveling to the north metro and northeast suburbs. Travelers from Maple Grove, Rogers, Coorcoran, St.Michael and other towns used to have to cut through Maple Grove and then through downtown Osseo to get to Hwy. 169 or they had to follow 94 around all of the way around south Maple Grove to 169 and then go north to 610. Completion of this project is scheduled for November 2010.

Metro Area Housing Statistics.

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 06 Nov 2009 23:16:56 -0600

Market changes drastically from last year with pending and closed sales up significantly from this time last year. Expect prices to show a slight bump due to frenzied first time buyer activity trying to get into a home before the now extended tax credit was to expire. The volume of first time buyers entering the market and purchasing foreclosures at break neck speed with show as an aberration in the coming months as the rush will be over and we will enter into a seasonal slow down. However, if your considering selling your property this summer, you may want to push your time frame up to earlier in the winter/spring market. Expect listings to start increasing in February.

Weekend Rates Week Ending 11/6/-09

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 06 Nov 2009 23:03:23 -0600

Rates seem to be staying stable. However, the Fed has indicated that the economy may have slight improvement and that it may have to start raising rates in the next quarter or two to stem off inflation. First time buyer credit expires 11/30/09, but there are and still will be homes that are extremely affordable and over the winter months, could be had for less than you would save with the credit.

Visit our website at www.EricHelmers.com

Correct Info on Tax Credit

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 06 Nov 2009 11:04:13 -0600

There have been alot of rumors and information that has been wrong floating around blogs and some real estate websites. Below is the correct information you need to understand the extended tax credit. As you will see below, it now applies to current home sellers looking to move up or down as home buyers. This allows you to be more flexable on the sale of your home if you have lived there more than 5 years. Call me if your looking to buy or sell a home in the coming months.

Weekend Rates for Week Ending 10-16

Eric Helmers (Keller Williams Classic Realty N.W.) — Sun, 18 Oct 2009 00:59:20 -0500

You Don't Need No Stinking Tax Credit!

Eric Helmers (Keller Williams Classic Realty N.W.) — Mon, 05 Oct 2009 04:53:17 -0500

So your thinking you need to purchase a home in the next seven weeks because you might not have a chance to collect on the $8,000 tax credit coming to an end in November. Personally I think you should take another look at the market and affordability. Many real estatee professionals will not like me to share this line of thinking with you because they like when the market has bonuses that invoke a sense of desperation like a tax credit coming to an end. Fact is there are around 450-500,000 foreclosed properties that still have not come to the market. Why is this important? Follow with me.

1) Currently there is a lack of desirable properties on the market and buyers are struggling to find homes that work for them, but they are still buying because they are panicked that the tax credit is about to expire. I have seen 6-10 offers on most of my foreclosure listings and the last property I closed sold for $45,000 more than the bank listed it for. WOW! Over the last 6 months I am averaging offers around 5% over list price.

2) Due to the RUSH on the remaining properties, there is a small increase of 2-5% in home pricing depending on where you are searching. This will be temporary until the tax credit expires. New home starts are already reflecting this in the number of permits being pulled. Expect pricing to drop when the tax credit is over and due to seasonal price reductions based on the weather related market and the Holidays. Winter is always slow and therefore less demand creates lower prices on a temporary basis. (Dec.- Mid Feb.)

So what does this mean to the average home buyer. It's simple. Wait 3-4 months and save more money than the tax credit will save you and possibly find a nicer home than what is currently available in the market today. How you ask.

Say prices are temporarily inflated by 3% and you are seeing offers per my own listing experience of 5% over list price. Say that after the tax credit prices drop another 3% due to a rise in inventory and the upcoming seasonal slump real estate sees and you are no longer forced to compete with multiple offers or pay above list price for a property?

Here is how you save much more than the tax credit affords you.

The banks release the estimated 450-500,000 foreclosures expected to come to market this year. The tax credit expires, the market has a seasonal adjustment and the number of competing buyers drops.

The effect could be like this. Your currently looking at listings around $175,000. You've lost out on one or two homes to higher offers due to the current crunch. Your finding these homes are selling for 4-5% above list price or (5%= $183,750). Your willing to pay because you will save $8,000 due to the tax credit.

But what if you waited? Say a similar listing comes to market after the tax credit has expired. Due to natural pricing by REO or foreclosure specialists, the same listing that would have been $175,000 drops to $169,750 (3% Reduction) because they understand their will be fewer buyers and the banks still need to sell these properties. Say because the market has changed and you no longer need to compete against other buyers, imagine the bank accepting an offer 3% below the listing price. ($164,657.)

Tax credit? Who needs a stinking tax credit? What would have possibly cost you $183,750 may only cost you $164,657. and it may be a home in better condition or in a more desirable neighborhood or school district? That's a savings of $19,093!! This is a very likely scenario based a market conditions and the upcoming seasonal market. Which would you rather have? A $8,000 tax credit or the same or better house at a $19,000 savings. The savings is also bigger than listed due to the fact you would be paying less interest on the loan. So in closing, don't panic but due plan on acting in the next 4-6 months.

The Helmers Group believes in giving you information to make sound decisions and will alway look out for your best interests. Call or e-mail us today to get the information and help you need in this market.

Here is a link to a story on the impending increase in foreclosures coming to market. http://rismedia.com/2009-10-04/where-are-all-the-reos/

Vikings/Gopher Football Schedulea Available.

Eric Helmers (Keller Williams Classic Realty N.W.) — Sun, 04 Oct 2009 02:59:52 -0500

We over ordered football schedules this year and are offering to send anyone interested in a magnetic Vikings/Gophers combo schedule for free. E-mail Eric@EricHelmers.com with your name and address and we'll send you the magnetic schedule or if you request, we can e-mail you a copy in adobe format that you can print for your office or kids rooms.

Weekend Interest Rates Weekending 10-2-09

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 02 Oct 2009 19:55:33 -0500

Rates remain remarkably low giving real estate buyers and investors amazing opportunities to save tens of thousands of dollars or trim years of their mortgage. $8,000 tax credit ends 11/30/09. Buyers should understand that they need to have identified a property, had a offer accepted and title work closed prior to that date or lose out on the tax credit. The clock is ticking down to zero soon. Call now to get started.

Weekend Interest Rates for Week Ending 9/25/09

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 26 Sep 2009 03:58:57 -0500

Sellers- Get your home listed for sale now or!

Eric Helmers (Keller Williams Classic Realty N.W.) — Thu, 24 Sep 2009 19:13:23 -0500

For most in this market, conventional thinking would be that real estate agents would be notifying and motivate buyers to act quickly in order to take advantage of the $8,000 tax credit that is soon to expire in November. The point I want to make is to sellers that may have equity left in their current home and who may want to move up either to a new or larger home. With interest rates where they are now and the number of motivated buyers looking for starter homes, right now may be your best chance to take advantage of the current market. Call me or e-mail me so I can share with you how this might be the best time in ages for you to sell your house and buy the home of your dreams. You need to act quickly to ensure the best possible outcome. Call now!

Maple Grove Real Estate Trends

Eric Helmers (Keller Williams Classic Realty N.W.) — Tue, 22 Sep 2009 07:22:03 -0500

Here is this months market report showing trends for the Maple Grove area.

Trends show median sale prices are still showing signs of depreciation in Maple Grove. The vast majority of sales in this area are still foreclosures which are impacting on this number. Marketing times year to date have had a very small increase of just 2 additional days over last years numbers. Total inventory is down 12% and closed sales are slightly lower. Signs still point to sellers pricing their homes higher than the market is willing to pay, but the numbers also show sellers are being are more likely to negotiate on an offer rather than walking away.

These numbers show that sellers not needing to sell are removing their homes from the market and that the foreclosure inventory is being consumed by the first time buyers in our market It may also show that there is still a slightly stable and stronger market in Maple Grove which could possibly be related to due to being a desired location for people going through the relocation process.

If you are looking to buyer or sell a home or are looking for additional information or a free CMA, please contact us.

Plymouth Real Estate Trends

Eric Helmers (Keller Williams Classic Realty N.W.) — Tue, 22 Sep 2009 07:16:19 -0500

Here is this months market report showing trends for the Plymouth area.

Trends show median sale prices are still showing signs of stabilizing in Plymouth when compared to the rest of the metro. The vast majority of sales in this area are still foreclosures which are impacting on this number. Marketing times year to date have had a very small increase of just 11 additional days over last years numbers. Total inventory is down 9% and closed sales are slightly higher. Signs still point to sellers pricing their homes higher than the market is willing to pay, but the numbers also show sellers are being are more likely to negotiate an offer.

These numbers show that sellers not needing to sell are removing their homes from the market and that the foreclosure inventory is being consumed by the first time buyers in our market It may also show that there is still a slightly stable and stronger market in Plymouth which could possibly be related to due to being a desired location for people going through the relocation process.

If you are looking to buyer or sell a home or are looking for additional information or a free CMA, please contact us.

Tax and Financial News for Plymouth

Eric Helmers (Keller Williams Classic Realty N.W.) — Sun, 20 Sep 2009 01:25:43 -0500

Plymouth residents may see some property tax relief in 2010 if the approved Hennepin County tax levy in accurate.

(Sept. 8) approved a maximum property tax levy for 2010, as required by state law. The net levy - coming from property taxes in the county - could increase by 4.95 percent over 2009, to a total of $676.2 million. The 4.95 percent increase provides:

No increase for county operations;
3 percent to cover an expected surge in uninsured people seeking care at Hennepin County Medical Center as a result of the elimination of General Assistance Medical Care and other potential revenue shortfalls; and
1.95 percent for general economic risk and to give the county flexibility after the release of the state's November forecast.

While some cities like Kenwood and South Minneapolis will likely see little to no change, cities like Brooklyn Center and Plymouth may see a significant drop.

In other Plymouth related business, Klein Bank has acquired Community Bank of Plymouth. Community Bank of Plymouth was feeling a big hit due to the current financial market and it had $1.1 million in loan defaults in it's construction and development division. This should be a positive for Hennepin County and the residents of Plymouth.

The Helmers Group- Keeping you informaed on what matters.

Are you lost in the woods?

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 19 Sep 2009 07:22:13 -0500

Selling a home in today's market can be a little like being lost in the woods without a compus..excuse me..a GPS! You look around and think you know what the right direction to go is, but there is no one to guide you. You have had all source of information on what to do, but you don't know which source is the correct source and you don't know where to start.

Your thinking of selling your home, but the news, radio and blogs keep yelling at you, "The market has tanked!" "The sky is falling!" While the market is seeing a significant correction, it does have it's upside. Especially if you've been in your home more than five years and have not used your homes value/equity as an ATM. With the current market, if you do have any equity, you can still sell and this is one of the best markets ever if you want to buy up. Meaning purchase a newer or larger home.

We know the market and we know what needs to be done in order for you to have a successful sale. We also know that we need to give you information you need to hear, but might not want to hear. Many agents are afraid to speak to you about the market for fear you will take it personally and chose not to use their services. We cover it all. We believe hard news is a lot better than incorrect or no news.

We offer you a honest custom CMA and marketing solution for your property. We cover everything that is good and bad about your property and give you the steps you need to do to be successful.

We also do fee based consulting if you are thinking of listing with another company, if you have had your home sale expire or if it has been on the market for a long period of time and you need clear answer as to why it has not sold. We do not solicit active listings. We give an accounting of what you can do to be successful in selling your home. Using us or your current agent is entirely up to you.

Any one can do a free CMA on your property and tell you what they think you want to hear. With our custom Broker Price Opinion, you get the answers you need to hear with a clear outline on what you need to do to be successful in today's market.

Call or e-mail us if you would like to discuss our consulting options or if you would like to meet with us to help get your on the market and sold!

Keller Williams Realty Wins J.D. Power Award 2nd. Straight Year

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 19 Sep 2009 06:30:16 -0500

July 2009-

J.D. Power awards Keller Williams Realty highest in customer satisfaction among buyers for the second year in a row. As a Keller Williams Realtor the feedback we get from our clients mirrors that sentiment. Our team goes the extra mile whether it be with the client, the office, or with our education. We continually seek to improve and not only meet the standard, but set it. Our team makes a conscious decision each day to listen to the needs of our clients and then to focus on how we can meet or exceed those needs. It explains why so many past clients call us over and over with referrals and to use our services again and again.

If your looking for extra effort, strong communication and values more insink with days gone by, please give our team a call or e-mail us and let's get to work for you.

Have You Considered A Short Sale- Do You Know What They Are?

Eric Helmers (Keller Williams Classic Realty N.W.) — Tue, 15 Sep 2009 03:56:21 -0500

For owners who can no longer afford to keep mortgage payments current, there are alternatives to foreclosure and/or bankruptcy proceedings. One of those options is called a "short sale."

Why Do a Short Sale?

Lenders Do Not Want to Foreclose On Your Home.

Truth is that Lenders Are More Likely to Accept a Short Sale Today
Than They Were 6 Months Ago.

Reasons Why the Banks Would Allow You to Short Sale Your House:

•1) Typically the banks recover 15-20% more money when you short sale
the property rather than foreclosing on your home.

•2) The banks don´t have to deal with legal fees when a short sale is successful.

•3) The bank does not have to go through the evictions process.

•4) The banks don´t have to risk complete property loss or major damage
if the home is empty after the foreclosure process.

•5) The Federal Government is giving the banks $2,000 for every successful
short sale as an incentive to help facilitate the sale.

Reasons Why You Should Consider a Short Sale of Your House.

•1) Foreclosures destroy your credit, embarrasses you, your family
and many that have gone through a foreclosure explain they feel
helpless and that they have lost their dignity.

•2) It allows you to recover your credit much quicker than going through a foreclosure.

•3) It allows your neighbors to avoid having vacant foreclosure
properties devaluing their neighborhood. (Think about your friends)

•4) It may allow you to avoid having to go through the bankruptcy process.

•5) It costs you nothing. The bank pays the real estate fees/commissions, the
closing costs and in most cases any outstanding liens like water bills.

•6) It allows you to invest in a new home much quicker once you have had
time to get back on your feet and repair your credit worthiness.

While a short sale in real estate is not always a pleasant transaction due to offers coming and going, hard knock negotiations with the bank managers and the typical length of time it takes the banks to respond and accept offers.

With our experience, many of these issues are addressed ahead of time and we have done this long enough that it is really routine for us because we know what we are doing and how to get answers from the banks. When possible we will even pre-negotiate the acceptable sale price the bank is willing to take prior to listing the property for sale.

More than 75% of my sales in the Minneapolis Metro Area over the past few years have been foreclosures and short sales. I can tell you from experience that going through a foreclosure is not a good experience. While most of the clients I have helped short sale their home are sad to lose the home, they are generally very happy with their decision and are very thankful for our help.

The Process

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.

Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.

•· We Call the Lender
typically we ask for a copy of your credit report so we can identify the correct amounts owed on the loan. The credit report also will give us the phone number to a department that can get us to the short sale department quicker. It may take half dozen phone calls before we find the person responsible for handling short sales.

•· We Request the Banks Required Authorization Letter and Needed Forms.
Lenders typically do not want to disclose any of your personal information without written authorization to do so. Being proactive can mean we will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:

•· Property Address

•· Loan Reference Number

•· Your Name

•· The Date

•· Your Agent's Name & Contact Information

•· We Do a Preliminary Net Sheet for the Banks
This is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Our closing agent or your lawyer should be able to prepare this for you, if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.

•· We Have You Complete a Hardship Letter
This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.

•· We Have You Fill Out a Proof of Income and Assets Form (Required by Banks)
It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.

•· We Collect Copies of Bank Statements and Two Years W-2 Statements or Proof of Income from Your Accountant if You Are Self Employed.
If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.

•· We Do a Comparative Market Analysis (CMA) of the Property to Provide to the Bank.
Sometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). It informs the bank of:

•· Active Listings on the market

•· Pending sales

•· Sold properties from the past six months.

•· We List Your Property and Submit a Purchase Agreement & Listing Agreement Along With Our Marketing Plan and Marketing Efforts in Order to Assist Bank in Making Their Determination of Acceptance.
When you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement.

If all goes well, we get an accepted offer from the bank and we close title in a timely manner. Then, you are free to move on in your life and to start to work on repairing your credit in order to have a brighter future. We can also help you in this goal should you need our assistance. We can also attempt to assist you in finding a new place to move to.

Note: As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request. There may be some tax implications related to the sale; we would hope you would consult an attorney and an accountant. We have extremely low cost legal services for you and can give you a reference for a knowledgeable accountant if you do not already have one.

WE LOOK FORWARD TO ASSISTING YOU AND HELPING YOU ON THE ROAD TO RECOVERY.

PLEASE KNOW YOU ARE NOT ALONE! MILLIONS OF PEOPLE/FAMILIES ARE GOING THROUGH THIS WITH YOU. WE WANT YOU TO KNOW WE CARE AND BELIEVE WE CAN HELP YOU TO A BETTER FUTURE!

FOR MORE INFORMATION OR TO SET UP AN APPOINTMENT, CONTACT ERIC HELMERS BY PHONE AT 612-581-5375 OR E-MAIL ME AT ERIC@ERICHELMERS.COM

Weekend Rates for Week Ending 9-11-09

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 12 Sep 2009 00:05:40 -0500

Please see the amazing interest rates available to home buyers or those of you looking to re-finance your home. With the $8,000 tax credit and low home prices, there is really no excuse for first time home buyers to wait. Tax credit expires 11/30/09 and this means you need to have your purchased closed prior to this date or NO TAX CREDIT! Call me or Blair now to get started!

In Remembrance

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 11 Sep 2009 01:58:53 -0500

Dear Friends, Family, Neighbors, My Fellow Man,

As you know, today marks the eighth anniversary of the tragic events of September 11, 2001. I ask that you will join me in remembering those brave citizens who gave their lives on that fateful morning. Our thoughts and prayers go out to those who lost someone close to them.

We hope that you will take a moment today to reflect on the things that are most important in your life and remember that through tragedy we have the opportunity to rise even stronger.

Yours in remembering,

Eric Helmers- Keller Williams Classic Realty NW

Maple Grove 3 Level Split Sold in 2 Weeks

Eric Helmers (Keller Williams Classic Realty N.W.) — Sat, 05 Sep 2009 01:49:02 -0500

Our team received 5 offers on this property in the first week on market and the roperty sold for $5,000 over list price. This is an example of what our current market is like. First time buyers have a huge opportunity in this market to pursue homes at a great price with low interest rates and a great tax credit. Home sellers with small or starter homes looking to move up should take into consideration the value of the current market. It is in fact a great opportuniy to sell and build future wealth. Contact me to discuss how you can take advantage of this market!

Weekend Rates Ending 9/06/09-

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 04 Sep 2009 16:25:35 -0500

See the attached interest rates posted for the weekend ending 9/06/09.

Use our services along with Blair Mathewson of the Scherber Elite Group with Prime Mortgage and receive the use of a free moving truck. Rates can change and are not garanteed. Truck is subject to availability.

It's time to sell and buy! Rates at 5% on a 30 year conventional. It's like free money! Buyers, combine rates like these with the $8,000 tax credit and wow! Get it in gear. You cannot afford to wait any longer as the tax credit expires 11/30/09.

Call me if you have any real estate related questions!

Our Treasury Secretary Can't Sell His Own House!

Eric Helmers (Keller Williams Classic Realty N.W.) — Fri, 04 Sep 2009 15:35:15 -0500

After telling anyone that will listen that the housing market is stabilizing and that the outlook is positive for the future, our esteemed Sectary of the Treasury decide to list his house. For a guy who makes a living out of analyzing economic models and numbers I wonder what he was thinking listing his house for more than he paid for it at the height of the market in 04"? Purchased for $1.6 million, he listed at $1.63 million is a market that had seen nearly a 30% depreciation during the same time. Huh? $1.6 @ .70 =$1.12 million. Good math Geithner. But give him a break. Let's say he only had a 15% drop in value in his area. Still leaves a listing price of $1.36 million.

The reason I demonstrate this is for you sellers out there that still are not understanding the market and listing homes at whatever the highest price an agent will tell you rather then with the honest agent that provides you all the facts. This explains why listing agreement cancellations and expired contract are at an all time high. If you are a move up buyers or still have any equity in your home, it is still a good time to sell. The savings you will make up on a move up purchase will far exceed the perceived loss you may take now and will allow you to build wealth at a much greater rate. Call me now to talk about the truth and how it can benefit you today!

The Daily Show With Jon Stewart

Mon - Thurs 11p / 10c

Home Crisis Investigation

www.thedailyshow.com

Daily Show
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Political Humor

Healthcare Protests

Monthly Real Estate Trends for Plymouth

Eric Helmers (Keller Williams Classic Realty N.W.) — Mon, 31 Aug 2009 22:57:09 -0500

Here is this months market report showing trends for the Plymouth area.

Trends show median sale prices continue to drop in Plymouth but at a much slower rate than many other local cities.. The vast majority of sales in this area are foreclosures which are impacting on this number. Marketing times year to date have had a very small increase of just 14 additional days. Total inventory is down 12% and closed sales are slightly lower.

These numbers show that sellers not needing to sell are removing their homes from the market and that the foreclosure inventory is being consumed by the first time buyers in our market It may also show that there is still a slightly stable and stronger market in Plymouth which could possibly be related to due to being a desired location for people going through the relocation process.

If you are looking to buyer or sell a home or are looking for additional information or a free CMA, please contact us.

Monthly Real Estate Trends Maple Grove

Eric Helmers (Keller Williams Classic Realty N.W.) — Mon, 31 Aug 2009 22:34:45 -0500

Here is this months market report showing trends for the Maple Grove area.

Trends show median sale prices continue to drop. However, the vast majority of sales in area are foreclosures which are impacting this number. Marketing times year to date have had a very small increase of just two additional days. Total inventory is down 14% and closed sales are slightly higher.

These numbers show that sellers not needing to sell are removing their homes from the market and that the foreclosure inventory is being consumed by the first time buyers in our market.

Fore more specific information on your neighborhood or for a free market analysis, please contact me.