Are you Stalking a Real Estate Sleeper?

Real Estate Agent with Boardman Realty Minnesota License#90858

Do you have your eye on the perfect home but have yet to make a move? You know the house I mean...You have had it saved in your favorites for awhile now and it is priced right. In fact, it is a steal of a deal. You check on it almost daily but you are still on the fence about buying a home and so you just continue to "stalk" the listing but don't act. Maybe you are trying to time the market and see if seller of that "sleeper" is going to drop the price again. Well wake up bargain hunter! It is very possible you are not the only one with an eye on that real estate sleeper. If you wait too long it will be gone.

A real estate "sleeper" is a well priced home that hasn't sold yet. Usually the home is a great property, location, structurally sound and priced well but for one reason or another it hasn't sold. In a winter market, especially just after the holiday season, sleepers  can be abundant.

Maybe the home was originally over priced and though it is now priced very well it is being overlooked. Possibly several very similar homes went on the market at the same time. Maybe the seller did receive an offer and the buyer's financing fell through so now it is "back on the market" through no fault of the house itself.

But if you are a buyer sitting on the sidelines and just watching your perfect home for another price reduction, beware. I have sold a couple of sleepers over the years throughout the north and east metro. In each case, there was minimal activity on the property then BAM....we had 3 or 4 qualified parties interested in the home at the same time. In these particular cases, they weren't the cookie-cutter variety either. One particular home in Washington County/Forest Lake area had a one-of-a-kind wooded lot and was in a perfect location. After months on the market, without an additional price reduction, over half a dozen serious buyers suddenly appeared. People were nonchalant when I told stressed that the home had recently seen a sudden surge of interest. Many even "pooh-poohed" the idea and mildly accused me of trying to coerce an offer. When the first offer came in, the seller wasted no time in accepting. Subsequently, I had several parties, buyers and agents alike, in disbelief, that it was suddenly sold!

If the sleeper phenomena had happened only one time over the years, I would consider it a fluke but I have experienced this situation on homes in Washington, Ramsey, Chisago and Anoka Counties as well. In some cases I was the listing agent and others I was representing buyers.

So home buyers heed my warning, if you are on the fence watching a sleeper, now might be the perfect time to make your move...Or someone else might beat you to it!

Current "SLEEPERS" in Anoka County:

5035 182nd Lane Columbus MN

 4915 168th Lane, Ham Lake MN

5035 182nd Lane, Columbus MN

2611 Northdale Blvd, Coon Rapids MN 

Posted by

Teri Eckholm. REALTOR with Boardman Realty, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

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Marnie Matarese
Showing you the best of Sarasota!

Just lost a "sleeper" because the buyer has been "thinking about it" for the last 2 months.  The day he called me to put in an offer, guess what?  Yep.  Went pending.  

Jan 03, 2017 07:22 PM #1
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

"The house you looked at today, and want to think about until tomorrow. . . might be the same house someone looked at yesterday, and will buy today" - Koki Adasi

Jan 03, 2017 08:14 PM #2
Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

While you are sleeping on it, someone else is taking action on it.

Jan 03, 2017 09:32 PM #3
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Teri Eckholm

REALTOR Serving Mpls/St Paul North & East Metro
Looking to buy or sell in the Twin Cities? Contact Me Today!
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