Wade's Blog

Woodbury, MN Housing Market Update

Wade Hanson, Luxury Broker (RE/MAX Results) — Thu, 10 Sep 2015 02:42:51 -0700

There is some terrific news that has come out of the housing market in 2015! Woodbury closed sales are up 21%! There is currently only a 3 months supply of inventory of homes on the market. Overall in the Twin Cities closed sales are up 17% with a 4 months supply of inventory currently on the market. Woodbury’s average sale price is $305,000 compared to the overall Twin Cities average sale price of $261,000. Maybe the best news for homeowners is that buyers are buying previously owned homes again! Take a look at these stats: Woodbury 2015 = 982 closed sales YTD - 40 were new construction Woodbury 2014 = 861 closed sales during this same time last year - 86 were new construction. How about the luxury market? Woodbury Home Sales Over $650,000 2015 = 26 sales – 7 new construction 2014 = 20 sales – 6 new construction

Wade Hanson Launches Luxury Real Estate Book

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 13 Jan 2015 00:50:58 -0800

Realtors share the inside scoop on buying and selling high-end real estate Woodbury, Minn. (Jan. 21, 2015) – Wade Hanson of RE/MAX Results has collaborated with 18 other top producing real estate agents across the country on a new book titled, Luxury Home Selling Mastery, which details the ins and outs of selling million dollar homes. The 214-page book, set to launch today, is currently available on Amazon.com and has a five star rating. The book speaks to consumers and real estate professionals alike with unique perspectives from high-end agents about the upper bracket market. Hanson’s chapter is titled “Three Reasons Your Luxury Home Isn’t Selling”. It focuses on pricing strategy, unique marketing strategies for a luxury home, and what a luxury Realtor should do for their clients. Properly pricing a home is the most important piece for any real estate sale, but Hanson also notes that many times, it’s the small details such as staging a home, high-end marketing materials, marketing the home to a targeted audience and good photos that highlight the homes unique features, that are often overlooked that can impact the decision of the buyer. “The luxury home market is unique and representing high-end buyers and sellers requires an agent with the unique skills, expertise and experience in the upper bracket market,” said Hanson. “The fact is, not all agents are equipped to handle a luxury property.” Other sections discuss topics such as luxury market trends, what it takes to sell an upper bracket home in any market, global marketing, success strategies for luxury Realtors and even how to work with professional athletes. The authors were chosen by publisher, Erica Glessing with Happy Publishing, and have collectively sold over $4 billion in real estate. Each author shares their unique and individual tips, tricks, and insights on selling the most luxurious homes in North America. Glessing selected Hanson as a contributor as a result of his 15 years of experience in the luxury housing market, large network of luxury clientele, his unique approach to the industry and his experience with Donald Trump (the tycoon in luxury real estate) on NBC’s, The Apprentice. To purchase a copy of Luxury Home Selling Mastery, go to www.amazon.com or contact Wade Hanson, at 651-274-8584 or Wade@WadeHanson.com. # # # About Wade Hanson: Wade Hanson is a Real Estate Broker and has been selling real estate in Minnesota and Wisconsin since 1999. He is a Certified Luxury Home Marketing Specialist and is a member of the prestigious Million Dollar Guild with The Institute for Luxury Home Marketing. Hanson has over 15 years of experience selling luxury homes and understands that marketing luxury properties is all about identifying the key characteristics that make a home unique, finding the home’s story, and telling that story to the right prospects. Wade remains one of the top Real Estate Brokers in Minnesota and Western Wisconsin. His early success story, drive and determination was key in being chosen as a contestant on Season 10 of NBC’s The Apprentice – a reality TV series headed by real estate mogul and billionaire Donald Trump. Wade is a graduate of Woodbury High School and currently resides in Woodbury with his wife Michelle and two Daughters, Madalyn and Gwenyth. About RE/MAX Results: RE/MAX Results operates out of the Twin Cities area of Minneapolis and St. Paul, St. Cloud, Rochester as well as Western Wisconsin. Based upon the principles of entrepreneurship and customer service, RE/MAX Results has grown to 30 offices and more than 900 Sales Executives making it the largest RE/MAX franchise in the world. For more than 27 years, RE/MAX Results has been leading the way with some of the highest producing sales executives in the country. RE/MAX Results is committed to selecting the most capable people in real estate, providing the best, most streamlined operational infrastructure, management by participation, and the highest standards of professionalism in the industry. For more information, visit www.results.net.

Woodbury, MN Neighborhood Statistics 2014

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 07 Jan 2015 01:33:03 -0800

2014 was an interesting year in Woodbury. The amount of new construction homes proved to be a challenge for traditional sellers to compete with and although sales were down 30% in 2014, the average sale price was up 7%. This means buyers were willing to pay more for good, quality homes and they were willing to patiently wait for the right home to hit the market. In some cases, buyers put off their home search in November and December and they are now watching the spring inventory very closely. When it comes to the number of homes sold in 2014, Stonemill Farms lead the way with 74. However, if your looking for the neighborhood that had the highest home values in 2014 Dancing Waters and Marsh Creek came out on top with an average sales price of around $520,000. The price per square foot in Dancing Waters was an astounding $164 per square foot! Compare that to the overall average in Woodbury of $122 per square foot and Dancing Waters looks like a good place to call home. Once again, Wedgewood had the most expensive home sell in all of Woodbury at a price of $1,166,000. Here is a closer look at the numbers:

2014 Woodbury Home Sales Year in Review

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 09 Dec 2014 01:00:43 -0800

Home sales in Woodbury didn’t reach the levels everyone expected this year. As more and more homeowners gained the necessary equity in their homes needed to sell for a profit, inventory went up over 30%. This combined with the flood of new housing inventory to compete with and the overall buyer activity down over 6%, created a drastic slowdown in home sales. The good news is it’s a great time to buy! High inventory and record low interest rates have combined for one of the best buyers markets we have seen in over five years. What Will 2015 Bring? The interest rates are likely to rise in 2015 and this will affect affordability. Homes will appreciate at “normal levels” of 2-4% and the homebuyers will continue to make very educated purchases. If you are thinking of making a move, now is the time! Don’t wait until spring to list your home for sale. Buyers will jump off the fence the second the interest rates begin to spike and if you’re a seller with less homes to compete with you will capitalize on this opportunity. Most sellers will wait until spring and may miss out on this traffic.

What’s Happening With Woodbury’s Luxury Home Market?

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 15 Oct 2014 00:05:13 -0700

There are currently only five pending home sales in Woodbury over $600,000 and they are all new construction! So far in 2014 only 23 homes have sold over $600,000 and half of them were new construction. This means roughly one existing home per month sells in Woodbury over $600,000. There are currently 19 homes for sale (not including new construction) in Woodbury over $600,000. This means we have nearly a two years supply of inventory! How are you going to sell your home! Here are a few things you can do to stand out from the crowd and get your home sold: 1. Price – review your current asking price with your agent. If you are serious about selling you need to be priced slightly under “market value” to draw the buyers attention away from the new homes they are looking at. Your home must be considered a value compared to building new. 2. Condition – what can be done to improve the condition of your home to compete against new homes? Simple things like paint and carpet can go a long way and help “freshen up” your homes look. At a minimum, you should consult with an interior designer and have your home professionally staged and remove the clutter. 3. Agent – what is your agent doing to aggressively market your home? Taking a few bad photos with his or her iPhone and putting a sign in the yard won’t get it done. If you have been on the market since spring and you still have photos of trees without leaves and dead grass – FIRE YOUR AGENT! This is unacceptable and buyers will simply scroll over your home and go on to the next home if it appears it’s been on the market for a long time. Also, what additional marketing efforts is your agent willing to do to attract buyers? There are many different ways to find a buyer; I suggest you make sure your agent is effectively using all of them. 4. Keep Your Home For Sale – The notion that buyers stop buying in the winter is completely false! I sold a $625,000 home on New Years Eve last year. Relocation and major decisions like moving up or downsizing happen in December and January so when inventory is low and everyone is waiting for spring to put their home on the market you stand a better chance of being the home a buyer selects as “the one”

What's Wrong With Woodbury's Housing Market?

Wade Hanson, Luxury Broker (RE/MAX Results) — Fri, 20 Jun 2014 00:12:00 -0700

A year ago homes were selling faster than we could put a sign in the yard. The combination of interest rates near 3.5% and record low inventory made for an extremely active housing market in Woodbury. Homes increased in value nearly 13% last year and home sales were up over 25% compared to the year prior. Fast forward 12 months later and sales are down nearly 17% and home values are up only 3.5% in Woodbury. Compare that to the rest of the Twin Cities where sales are only down 11.4% and home values are up over 8%.So what's happening with Woodbury's housing market? Several things; first the availability of new lots near East Ridge High School has allowed the national home builders to roll out hundreds of new homes. Buyers are gravitating to the new layouts and the smell of a fresh new home so this means home sellers need to adjust in order to compete. Sellers can't offer a "new home" with the exciting new features currently being offered by builders so the in order to sell, home owners must be priced accordingly, professionally staged and homes must be marketed differently. Now more than ever, you need a good real estate professional on your side if you intend to compete in the housing market.

5 Things That Turn Off Luxury Homebuyers

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 14 May 2014 01:21:14 -0700

Luxury homebuyers are demanding and have certain expectations that have to be met. If you want to make the best first impression and appeal to even the most critical of luxury homebuyers, follow these five simple steps. 1. Overpricing Luxury homebuyers are capable of buying high-end homes because they are savvy investors. These buyers are not about to consider making a bad investment and buying a home that is overpriced. Overpricing says to a buyer that the seller has unrealistic expectations and they won’t even bother making an offer or even looking at an overpriced home. You need to find a Realtor that understands how to properly price upper-bracket homes 2. Bad Staging Cluttered rooms, old furniture and pictures of your family are a sure way to turnoff a buyer. Buyers can’t see around these things. You would be amazed at how an old sofa or Dad’s favorite chair can end up making a house look old and dated. Hire a real estate professional that has a good quality interior designer to help you “de-personalize” your home and prepare it for the new buyers. 3. Poor Maintenance A yard with dandelions, lights that don’t work and carpet that hasn’t seen a vacuum in two weeks says to a buyer that you haven’t cared for your home and they will wonder what major things might be wrong with the home below the surface. If you can’t do it, hire it done. 4. Odor One of the biggest ways to make a bad first impression is to have a fowl odor in your home. Don’t cook funny smelling foods, put pet beds and kennels in the garage and take out the garbage. Opening a window, cooking a fresh batch of cookies and running a cycle through the laundry are great ways to freshen up the smell in your home. Don’t try to cover up a bad odor with plugin air fresheners it only makes it worse. 5. Bad Real Estate Photos Photos should be considered one of the most important pieces of your Real Estate Professionals marketing plan. I am amazed every day that sellers list their home with agents that use cheap photography or even worse - take their own photos. A good photo is the best way for your home to stand out from the millions of competing listings online.

Woodbury Luxury Home Sales Statistics

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 19 Feb 2014 01:05:22 -0800

The luxury market in Woodbury has picked up the last 12 months and I expect this trend to continue. If you are considering selling your home in 2014, there are some important facts to consider before selecting an agent to represent you. First, there have only been 9 sales in Woodbury over $750,000 the last 12 months - Wade Hanson has sold 4 of those homes and RE/MAX has sold 7 of the 9 homes. Coldwell Banker and Edina Realty each sold one home over $750,000 in Woodbury. Most importantly, I am able to get you more money for your upper-bracket home sale than any other agent in the market. When comparing your home to it's assessed value, the homes Wade marketed sold for 137% of assessed value compared to all other agents homes selling for only 115% of assessed value. That's a HUGE difference! It's simple, my listings sell for more money because I do more for my clients.

Woodbury 2013 Sales Over $750,000
Sale Price Compared to Assessed Value
Address	Assessed Value	Sale Price	% of Assessed Value
9255 Wedgewood Point	$719,200.00	$870,000.00	121%
2667 Cottage Grove Place	$519,000.00	$793,250.00	153%
11269 Halstead Trail	N/A	$861,000.00	N/A
Wade's Average				137%

3402 Crestmoor Drive	$645,400.00	$750,000.00	116%
4419 Dorchester Drive	$681,000.00	$775,000.00	114%
10247 Stony Creek Drive	$721,700.00	$775,000.00	107%
3312 Crestmoor Bay	$647,000.00	$790,000.00	122%
3505 Crestmoor Point	$724,400.00	$890,000.00	123%
9247 Wedgewood Point	$842,000.00	$925,000.00	110%
Overall Average			121%


All other agents average				115%

Preparing Your Home To Sell

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 29 Jan 2014 00:01:36 -0800

Woodbury’s housing market is experiencing extremely low inventory, demand is soaring and sellers may think that their home will move in mere minutes and at an inflated price. These dreams of big prices and warp speed sales can end up becoming a major disappointment for sellers if you aren’t willing to follow a few simple steps prior to putting your home up for sale. Here are 3 simple steps every seller should take before your home hits the market. 1. Staging matters–big time! “Homes that don’t show well don’t close well.” But still, time and time again we see sellers become stubborn against the time and cost associated with staging a home. Afterall, if they love their home as it is, why shouldn’t everyone else? Remember you are preparing your home for a new buyer to fall in love with it - not you. A good Realtor will have a staging expert that can provide you with some simple tips to help your home showcase all of it’s features and remember, “less is more”. 2. The market sets the price, not the owner. It’s understandable that many home sellers think that their home is above the price that the market dictates. Sentimental value often translates into an inflated sense of the home’s worth, but when it comes price, the winning opinion is always the market’s opinion. It’s impossible to effectively price a home without taking into account the competition. Unfortunately, too many sellers don’t. It’s essential to compare your home to the homes that are currently on the market and the homes that have recently sold in your neighborhood. Your Realtor will give you an unbiased opinion of your homes value. Gone are the days of “hoping” to get a certain price for your home. If your home is priced right, there is a good chance you will see multiple offers in a matter of a few days and you won’t have to put up with months and months of keeping your house “showing ready” 3. Small renovations may mean big bucks later In many cases, the cost of a home repair is less expensive than a potential buyer perceives the cost of the repair to be. If buyers over estimate the cost of fixing the problem, it may negatively impact the offer amount and end up costing you (the seller) more in the long run. Before you list and start marketing the property, it’s important to determine what improvements will make a difference when it comes to price. Remember, serious buyers never stop hunting for homes! Too many sellers see the winter months as the slow season. The reality is, there are plenty of upsides to listing and marketing a home when everyone else is taking a break. Less competition and more serious buyers are just a couple of reasons to market your home in the winter months. The Woodbury housing market is extremely active and the housing inventory is lower than it has been in over 5 years! NOW is the time to sell if you are considering a move this year.

Woodbury's Neighborhood Stats and 6 Year Housing History

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 10 Dec 2013 00:20:23 -0800

Woodbury Neighborhood Statistics 2012 vs 2013

Wade Hanson, Luxury Broker (RE/MAX Results) — Thu, 05 Dec 2013 02:28:59 -0800

How does 2013 compare to 2012 and what neighborhoods have seen the most activity? Stonemill Farms outperformed all other neighborhoods when it comes to the number of homes sold. This is mostly due to the number of new construction homes that were sold in 2013. While Stonemill experienced solid appreciation in 2013, Wedgewood continues to see the greatest appreciation year over year.

		2012			2013
	# Homes Sold	Avg Sale Price	DOM	# Homes Sold	Avg Sale Price	DOM

Stonemill Farms	80	$387,000	102	112	$437,000	88
Dancing Waters	31	$465,000	163	45	$481,000	141
Powers Lake	11	$476,000	204	15	$500,000	71
Wedgewood	27	$515,000	202	25	$600,000	145
Wedgewood Park	19	$350,000	95	27	$383,000	60
Marsh Creek	8	$466,000	55	5	$487,000	55
Interlachen Woods	9	$360,000	99	15	$455,000	70
Baileys Arbor	8	$512,000	182	4	$460,000	87
Eagle Valley	31	$335,000	87	35	$375,000	68

DOM = Days on Market until closing

What Will The New Year Bring To Woodbury's Housing Market?

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 20 Nov 2013 03:13:20 -0800

Home prices in Woodbury will rise in 2014 but at a slower, more steady pace compared to 2013. In 2013, a sense of urgency drove traditional buyers hoping to take advantage of still-affordable home prices and historically low mortgage rates. Buyers found selection limited and were often forced into bidding wars with investors and other buyers who paid cash. Sellers reaped the rewards in terms of quick sales, often above the asking price. As home prices continue to rise in Woodbury, more owners who had been underwater — meaning that they owed more on their mortgage than their home was worth — will emerge from the sidelines and start selling and buying homes. In Woodbury, homes increased in value about 11% in 2013. I don’t expect this kind of appreciation next year but with only a 3 months supply of inventory and buyer demand remaining high, I expect some level of appreciation. Also, I expect inventory to remain about the same as most sellers will be “move-up buyers” so it will be a wash. The bottom line is 2014 will still be a great year for the housing market but things will slowly level out as we approach 2015.

What Happened to Woodbury's Luxury Home Market in 2013?

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 20 Nov 2013 03:02:12 -0800

The average housing market is up dramatically in Woodbury compared to 2012 however; the luxury market has remained about the same year over year. In 2013 we experienced a solid number of homeowners taking advantage of low interest rates and the buyer demand for the home they would need to sell to move up to their dream home. Here are the numbers: 201210 homes sold over $750,000 The average sale price was $862,000 The average days on market was 120 days The average home sold over $750k was a 6,000 square foot, 6 bedroom, 6 bath home 201311 homes sold over $750,000 The average sale price was $855,000 The average days on market was only 52 days The average home sold over $750k was a 5,000 square foot, 5 bedroom, 5 bath home The good news is homes were not on the market as long but the buyers seem to be gravitating towards a smaller home.

Woodbury, MN Housing Statistics Last 5 Years

Wade Hanson, Luxury Broker (RE/MAX Results) — Mon, 18 Nov 2013 02:12:59 -0800

If you were waiting for the Woodbury housing market to "hit bottom", you've waited too long. The housing market has officially reached (and exceeded) pre-recession numbers in Woodbury and while next year will not explode like 2013 did, I do expect 2014 to remain strong. Here are the numbers:2008 = 936 homes sold, 78 days on market, average price of $290,5032009 = 989 homes sold, 70 days on market, average price of $252,3932010 = 855 homes sold, 76 days on market, average price of $257,9442011 = 964 homes sold, 83 days on market, average price of $236,2832012 = 1086 homes sold, 70 days on market, average price of $256,3682013 = YTD -1,242 homes sold, 45 days on market, average price of $283,719

Woodbury, MN Housing Statistics for October 2013

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 06 Nov 2013 23:38:10 -0800

The numbers are in for October and the Woodbury housing market continues to show signs of improvement. Here are some key indicators:Closed sales up 35% over 2012 Pending sales up 7% over 2012 The average sales price is up 2% from 2012 The inventory of homes for sale is down 11% from 2012 Homes that sold in October were only on the market 54 days compared to 88 days in October of 2012 One of the most important numbers that reflect a healthy housing market is the fact that there is only a 2 and 1/2 months supply of homes for sale in Woodbury. Last year at this time we had nearly a 4 months supply of homes on the market. This means it's still a sellers market and the market needs good homes for sale!

Stonemill Farms Market Statistics

Wade Hanson, Luxury Broker (RE/MAX Results) — Thu, 17 Oct 2013 22:34:57 -0700

Stonemill Farms remains at the top of the list for home buyers in Woodbury. The community concept and amenities such as the pool, splash pads, hockey rink, parks, playgrounds, soccer and baseball fields and community center with exercise room have proven to be very appealing to families. There are currently 40 homes for sale in Stonemill Farms (over half are new construction) with an average asking price of $457,000 for a 3,200 square foot four bedroom home. There have been 110 single family home sales over the last 12 months! The average sale price is $435,000 for a 4 bedroom 3,200 square foot home and the homes that sold were on the market for less than 45 days. Home values in Stonemill Farms have increased over 10% the last 12 months. Builders are working on the final phases of development in Stonemill Farms and homeowners can expect their home values to continue to rise slightly over the next year.

Wedgewood Housing Statistics

Wade Hanson, Luxury Broker (RE/MAX Results) — Thu, 17 Oct 2013 00:13:58 -0700

The Wedgewood area continues to be one of the most high demand areas for luxury buyers in Woodbury. The amenities such as walking trails, parks, golf course, tennis courts and one of Woodbury’s favorite dining establishments – David’s Chophouse makes Wedgewood a unique neighborhood. Currently there are only 10 active listings in the Wedgewood area (including Wedgewood Valley, Wedgewood Heights and Wedgewood Park). The average asking price is $593,000 for a 4 bedroom, 4 bath, 4,000 square foot home. When looking at the sales over the last 12 months there have been 53 home sales with an average sale price of about $500,000 for a 4 bedroom, 4 bath, 3,800 square foot home. Prices can be affected by the location within Wedgewood, the age of the home, recent renovations and amenities such as a pool. Overall Wedgewood continues to be a solid area for investing in a luxury home.

What Wealthy Buyers in Woodbury Want

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 01 Oct 2013 05:54:08 -0700

When searching for luxury homes in Woodbury wealthy home buyers rank open floor plans, smart technologies, and outdoor living space as top amenities in their home purchases. Here are their top-ranked amenities:An open floor plan Fully automated/wired home system, which could encompass high-speed cable and integrated music systems, computerized lighting, and home monitoring systems Outdoor living space Large Kitchen with high end appliances Neighborhood Home theater Pool Lot location It's not necessarily the amount of square footage in a home that matters but use of the space and quality of the finishes that counts.

Luxury Woodbury Home For Sale

Wade Hanson, Luxury Broker (RE/MAX Results) — Sun, 11 Aug 2013 00:04:19 -0700

Exceptional quality and craftsmanship can be found in this former model home. Enjoy over 4,900 finished square feet of comfortable living space in this lovely two story home located in the beautiful executive community of Ashwood. The main floor offers a large office featuring a cherry wood coffered ceiling, a large formal dining with cherry built-in wine bar, a gourmet kitchen with hearth room and a large family room accented with a stone fireplace, built in media shelving, large windows and 12 foot ceilings. The upper level features a large owners suite with heated tile floors in the bath, large walk-in closet and a glass block shower. Two of the bedrooms share a large “Jack and Jill” bathroom and the fourth bedroom is serviced with it’s own private bath. Also on the upper level is the convenience of a laundry room and two large storage closets. The lower level walks out to a large patio and south facing back yard perfect for a future swimming pool. The lower level in this home is warm with plenty of windows to allow natural daylight. You will enjoy the large family room with a third fi replace and wet bar, exercise room and the 5th bedroom all serviced with a lovely 3/4 bath. Why build when the perfect home awaits you in one of the Twin Cities most desirable cities with easy access to downtown St. Paul, MSP Airport and all major highways. For additional information visit www.LuxuryWoodburyHome.com

Wedgewood Luxury Home

Wade Hanson, Luxury Broker (RE/MAX Results) — Sat, 10 Aug 2013 23:52:54 -0700

Situated on a lovely lot with commanding views of Prestwick Golf Course this distinctive, elegant, soft contemporary 5,700 sq. ft. home is impressive! Located in the highly desirable community of Wedgewood, this single—owner home is in impeccable condition. A dramatic 21 foot vaulted main entrance welcomes you to this custom 5 bedroom, 6 bathroom masterpiece. The gourmet kitchen features cherry cabinets, Blue Pearl granite counters and a glass tile back splash. The recently completed walk-out lower level offers a spectacular entertainment area with a full bar finished in exotic African Cherry wood. A custom acoustical home theater with 86” screen and tiered leather theater seating makes this a truly unique living experience! For additional information visit www.WedgewoodLuxuryHome.com

Woodbury, MN Housing Market April 2013

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 21 May 2013 02:40:52 -0700

Wow, what a difference 24 months makes! When comparing 2011 to 2013, the buyers have flooded Woodbury’s Housing Market and completely flipped the market from a buyers market to a sellers market. In April of 2011 there were 530 homes on the market, as of today there are only 288. That’s a 50% decrease in inventory! In April of 2011 homes took an average of 173 days to sell and were selling for 90% of original list price. In April of 2013, homes sold in less than 65 days and sellers were able to get 97% of original list price. More good news when comparing 2011 to 2013: Average sales price is up 25% Price per square foot is up 15% Pending home sales are up 57% Closed sales are up 50% Months supply of inventory is down 70% I believe timing is everything and right now your timing is perfect! If you are thinking of selling your home in Woodbury, MN – DO IT NOW while the market is hot!

Twin Cities Housing Market Statistics

Wade Hanson, Luxury Broker (RE/MAX Results) — Thu, 11 Apr 2013 03:11:56 -0700

Although the weather isn’t heating up in the Twin Cities, the housing market certainly is! So what's fueling the ongoing market recovery? First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery. Locally, new Listings in the Twin Cities region decreased 5%, pending sales were up 6.6% and inventory levels shrank 31%. Prices also moved higher. The Median Sales Price increased 17.4% to $176,000. Days on market was down 24% to 109 days. Absorption rates improved as the months supply of Inventory was down 40% to 3 months. This is all good news for the Spring selling season but how long will this last? In my opinion, as long as interest rates stay low, distressed housing inventory stays low and consumer confidence remains strong then we should see this strong market continue for another 12 to 18 months.

Woodbury Luxury Home Sales Are Improving!

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 05 Mar 2013 02:52:35 -0800

Minnesota's Certified Luxury Homes Marketing Specialist

Wade Hanson, Luxury Broker (RE/MAX Results) — Tue, 05 Mar 2013 01:39:30 -0800

Wade is a member of the prestigious Institute for Luxury Home Marketing and has 14 years of experience in the top 10% of the market. Recognized as the mark of accomplishment in luxury markets around the world and the official luxury designation of many national and international brands, the Certified Luxury Home Marketing Specialist® (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require. Agents who hold the CLHMS designation are Members of The Institute who have completed required training and have successfully demonstrated their expertise in the luxury home and estate market. In order to earn and hold the CLHMS designation an agent must: Be a licensed real estate professional Fulfill educational requirements Meet sales requirements and document their performance in the upper-tier of their local markets Maintain membership in good standing with The Institute for Luxury Home Marketing The Certified Luxury Home Marketing Specialist® designation is a mark of individual accomplishment. It is not awarded at the team or company level. As a Certified Luxury Home Marketing Specialist® (CLHMS) who successfully works in the million-dollar-plus market, Wade also is a member of the prestigious Million Dollar Guild®.

How Do Home Sellers Compete With New Construction?

Wade Hanson, Luxury Broker (RE/MAX Results) — Wed, 27 Feb 2013 01:02:24 -0800

The Woodbury new construction market is HOT right now. Sellers are losing buyers to the “shiny new product” on the market. So how do you compete? First, you can compete with the price. New construction typically is much higher in price per square foot. Price your home at fair market value and don’t think you need to allow room to negotiate. A home priced right in today’s market should sell for about 98% of list price or better and should have an accepted offer within 60 days. Second, make sure your light fixtures and bathroom fixtures are up to date. Brass light fixtures and chrome faucets will stand out in photos and make it look as though your home needs to be updated. Next, make sure you either replace the carpet or have it cleaned. New carpet, fresh paint, new window treatments and a professional staging consultation can make all the difference. Buyers will find your home online so the photos need to be professional and not taken with your agents IPhone. Often times buyers do not want to wait 6 months to get into their new home so if your home is priced well, staged with some basic updates, clean, well photographed and marketed by a good Realtor you will have some success. It’s unfortunate to see homes hit the market with a Realtor that hasn’t taken the time to help a seller overcome these objections. It can often cost a seller thousands of dollars. A home that is staged right will sell for about 5% more than a home that has not been staged. I take the time (sometimes several months) prior to putting a home on the market to make sure my sellers homes are looking top-notch and ready for the most discerning buyers. I also, offer a no cost staging consultation with a professional interior designer. This often involves everything from assisting with de-cluttering to selecting paint colors and sometimes even redesigning an entire kitchen.