There's lots of news in the local media about the Minneapolis/St. Paul housing markets continuing to improve so let's take a look at one of the communities in the southern Twin Cities area - Prior Lake.
Here is some of the good news in this report, especially for sellers:
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The average sales price is up almost 15%
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The average days on market is down by 40%
The market is now considered a seller's market rather than a buyer's market. Note the Month's Supply of Inventory - 4 months of inventory is considered a seller's market.
While this is good news, let's look at why this might be happening:
Interest rates are still historically low and buyers can purchase more home for their money than they could 2 years ago. At 5% interest rates, payments are $1,074, while at 3.5%, payments are only $898.
Our advice? Mortgage interest rates may never be lower for buyers. There is low inventory in most of the Twin Cities suburbs including Prior Lake, so sellers should receive higher prices than they did a year ago. If they have to buy, they can take advantage of these great rates as well.
Do you want more information on the buying/selling process or how much your home is worth?
Please contact the Stradcutter Team at 612-516-3456 or joe@toptwincitieshomes.com. Visit us at TopTwinCitiesHomes.com
Why we may be not be your typical realtor
First, we are educators who help you understand the buying and selling process. An informed consumer makes good decisions through a thorough understanding of all of the component. You are making one of the biggest financial choices of your life and that will have far-reaching effects. And we are here to assist you with that. Here is a partial list of our degrees, certifications, training and experience.
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Real estate broker
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Teaching and Education (master's degree)
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Short Sale and Foreclosure specialist (buyers and sellers and multiple certifications)
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Certified Negotiations Expert
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Technology (master's degree)
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Accounting (bachelor's degree)
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Human Resources (bachelor's degree)
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Home Staging
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Wholesale investing
Whether you're new, experienced or a grizzled veteran, we can assist you whether buying or selling. You'll have "two sets of eyes" looking at the property and paperwork. And we'll view it from a different age and gender perspective.
So, yes we may not be your typical realtor. We come to you with a wide variety of skills, experience and knowledge. Again, we're here to inform and educate and assisting you in making good real estate decisions.
The Stradcutter Team
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Real estate broker
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Teaching and Education (master's degree)
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Short Sale and Foreclosure specialist (buyers and sellers and multiple certifications)
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Certified Negotiations Expert
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Technology (master's degree)
-
Accounting (bachelor's degree)
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Human Resources (bachelor's degree)
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Home Staging
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Wholesale investing
NAR, MNAR, CDPE, Master's Degree
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