Ne Rochester (Rochester, MN)
By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
Here are NE Rochester MN 2011 Monthly Statistics for February: Summary Statistics   Feb-11 Feb-10 % Chg 2011 YTD 2010 YTD % Chg Absorption Rate 6.82 7.45 -8.46 6.96 7.13 -2.38 Average List Price $240,158 $243,530 -1.38 $230,573 $235,560 -2.12 Median List Price $199,900 $199,900 0.00 $179,850 $193,200 -6.91 Average Sale Price $148,477 $188,300 -21.15 $150,364 $181,461 -17.14 Median Sale Price $117,800 $177,000 -33.45 $121,400 $172,250 -29.52 Average DOM 183 138 32.61 151 155 -2.58 Median DOM 94 121 -22.31 89 121 -26.45   Overall we still see a drop in average and median prices of homes in the NE Rochester MN market. The good news is the inventory is being sold faster than it is comming on the market which is necessary for the the stability of the market. Also the Days that homes are on t...
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By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
Things to Know about about Real Estate Purchase Agreements 1. The closing date. See if the date the buyer wants to take title is reasonable for you. 2. Date of possession. See if the date the buyer wants to move in is reasonable for you. 3. The earnest money. Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer. 4. Fixtures and personal property. Check the list of items that the buyer expects to remain with the property and be sure it's acceptable. 5. Repairs. Determine what the requested repairs will cost and whether you're willing to do the work or would rather lower the price by that amount. 6. Contingencies. See what other factors the buyer wants met before the contract is f...
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By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
5 Ways to Speed Up Your Sale Understand these are 5 general ways to speed up your sale. If you have worked with a full-time professional Realtor and together you have analyzed your best course of action for your specific situation this information may not be applicable. Your agent is your best source of real estate information. 1. Price it right. Set a price at the lower end of your property's realistic price range. 2. Get your house market-ready for at least two weeks before you begin showing it. 3. Be flexible about showings. It's often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you'll find a seller. 4. Be ready for the offers. Decide in advance what price and terms you'll find acceptable. 5. Don't refu...
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By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
10 Ways to Make Your House More Salable 1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage. 2. Wash your windows and screens to let more light into the interior. 3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for. 4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows. 5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace an...
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By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
4Things to Do Before You Sell 1. Get estimates from a reliable repairperson on items that need to be replaced soon, such as a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs. 2. Get a pre-sale home inspection so you'll be able to make repairs before buyers become concerned and cancel a contract. 3. Gather together warranties/guarantees and manuals on the furnace, appliances, and other items that will remain with the house. 4. Fill out a disclosure form provided by your sales associate. Take the time to be sure that you don't forget problems, however minor, that might create liability for you after the sale. If you would like more information about what you need to do call the Real Estate Expert, ...
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By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
Understanding Agency   It's important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transactions. Ask your salesperson to explain what type of agency relationship you have with him or her and with the brokerage company. 1. Seller's representative (also known as a listing agent or seller's agent). A seller's agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract. 2. Subagent. A subagent owes the same fiduciary duties to the agent's principal as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not representing the buyer as a buyer's representative or operating in a nona...
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By Dan Kingsley, ePRO, CDPE-RANGER - Rochester MN
(Counselor Realty of Rochester)
Buying or Selling a House: Tips for Packing Like a Pro 1. Develop a master "to do" list so you won't forget something critical. 2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle. 3. Don't throw out everything. If your inclination is to just toss it, ask yourself how frequently you use an item and how you'd feel if you no longer had it. 4. Pack like items together. Put toys with toys, kitchen utensils with kitchen utensils. 5. Decide what if anything you plan to move yourself. Precious items, such as family photos, valuable breakables, or must-haves during the move, should probably stay with you. 6. Use the right box for the item. Loose items encourage breakage. 7. Put heavy items in small boxes so they're easier to lift. Keep ...
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Rochester, MN Real Estate Professionals