Now may be a great time to troll the real estate market.  Yet there is a fine line between reeling in a sweet deal and alienating a seller.  How do successful buyers tackle this nuance?

Takeaways:

• July and August represent a strong buyers’ market in residential real estate

• Writing well-researched and calculated offers is the key to capitalize

• An experienced agent will take the lead and could make all the difference

Late summer represents a unique opportunity for home buyers.  

The lull between the spring housing rush and an active fall market can put motivated sellers on edge.  Back to school is on the horizon and the snow will fly soon thereafter.  Sellers may face the daunting proposition of sitting on a property until spring, or settling for a lessor price.   

Buyers can capitalize on these emotions when fishing for a good deal, but only if they keep three key things in mind.

1. Carefully scout your honey hole

Writing a purchase agreement today is simple.  Because of this, many rush into getting something on paper without doing much research.   This can be a mistake, particularly when your offer is well below list price.  

Savvy buyers look before they leap.

A first step prior to any offer is outreach between agents.  A strong buyer’s agent is experienced in gathering intel about a listing and seller.  This is important as a seller’s goals, urgency and state of mind can differ greatly depending on circumstances and attitudes.

      Is this sale part of …

              • A divorce?

              • A foreclosure?

              • A downsizing or upgrade?

The scenarios behind why a property is on sale and the mindset of the seller are diverse and varied, but they are always relevant.  Careful consideration prior to writing an offer can assure that the offer is focused on common goals between the buyer and the seller.

2. Cast and retrieve

Armed with a good understanding of your seller, you are ready to write a compelling offer.  Empathy with that seller is the key here.  Remember, they may already be defensive when reviewing terms, feeling like they are already compromising on price.  Your job is to give the appearance of compromise on your side.  

Your agent can help you here, by writing an offer that is tailoring specifically to appeal to them.  Would an expedited closing help?  An all cash deal?  A willingness to forgo trivial items that show up in the inspection report?  

Once you understand a seller’s motivation, your agent will know precisely which levers to pull to put forward your best offer.  A knowledgeable buyer agent makes sure their client’s offer is strong for both parties and that it is presented with sensitivity and tact.

Following the presentation of your offer, the seller may reject or accept your offer as written, but more likely than not you can expect a counteroffer.  The next piece of advice should help as you consider next steps.

3. Know when to fish or cut bait

The final key consideration is a reminder.  The most powerful factor in any negotiation is the willingness to walk away.

If you know your top price and non-negotiable terms for a given property on the front end, you will know when to play this card.  You could be walking away until the situation changes, or you may be done altogether.  Either way it will be a rational decision, one that is divorced from the emotion of the moment.

Good luck

Late summer can be a great time to find and purchase the home of your dreams. By keeping these three considerations in mind and engaging a real estate professional with experience in your area, you too can enjoy the benefits of a true buyer’s market.  

OPEN HOUSE SUNDAY 3/22 @ 12-2PM

This home is available by appointment.  To schedule a private tour of this home please call Kevin at 952-290-3037 or Zach at 612-845-7890 click the button below to contact us.

OPEN HOUSE SUNDAY 11AM-1PM

This home is available by appointment.  To schedule a private tour of this home please call Kevin at 952-290-3037 or Zach at 612-845-7890 click the button below to contact us.

Plymouth New Listings | Plymouth New Construction | Plymouth Townhomes 

Today's new homes offer more benefits than ever before. Here's a quick list of reasons why so many home buyers prefer new homes.

1. Customization: Many home builders allow buyers to participate in the process of designing their property, which helps create a living space specifically tailored to the consumer's tastes. New home buyers, for example, can often decide where their bathroom might go, choose their favorite type of flooring, or pick the color of the exterior paint.

2. Efficiency: Newly constructed homes use energy more efficiently.  Due to modern building codes they have a tighter-sealed building envelope that helps prevent conditioned air—cool air in the summer, warm air in the winter—from escaping. Features that create this envelope include higher-efficiency insulation, doors, and windows.  Homes will not only be less expensive to heat and cool but more comfortable as well.  The more energy-efficient mechanics of the house also help reduce utility bills for new home buyers.

3. Fewer repairs: The features of newly constructed homes should also hold up better than those of existing homes which have experienced years of wear and tear.  At the same time new homes are engineered specifically to minimize maintenance requirements. For example, many builders use composite products for a home's exterior trim instead of wood requiring less maintenance.

4. Warranty: In addition, builders often agree to take care of the repair work that becomes necessary in your newly constructed home for at least the first year. "A new home is generally fully warrantied by the builder for a minimum of a year and most of all the other components are warrantied for extended periods.

5. Fire safety: Newly constructed homes include fire safety features that may not be present in properties built years ago.  Builders’ use fire retardant in carpeting and insulation to limit fire risk.  In addition, all newly constructed homes are required to include hard-wired smoke detectors. These devices can provide better protection than battery-operated smoke detectors, which can fail to perform if their battery runs out.

6. Concessions: Buyers agents may be able to negotiate more concessions out of a home building company than an individual seller. Individual sellers often have an emotional attachment to their property that can blind them to its true value. Builders often have greater financial wherewithal to absorb a loss on a sale than individuals creating more room to negotiate. 

7. Financing: New home buyers may be able to take advantage of mortgage financing perks made available through their builder. Many times new home builders have their own mortgage companies or they will offer paying points or closing costs and buy down certain rates for you.

If you plan to purchase a new home, make sure you hire the services of an agent that knows the construction process as well as the negotiation strategy to save you money.  Ready to put us to work for you?  Click here to schedule a Buyer Consultation

Home buyers generally look at a fair amount of homes in the process of finding their dream home.  It would be impossible, if not very expensive to have all potential properties professionally inspected prior to putting in an offer to purchase.  This means home buyers need to leverage the experience of their real estate agent to help complete an initial property condition review for themselves prior to making an offer to purchase.  Here are the top issues to look for when considering a property.

 1. Neighborhood - The value of a home is measured by more the just the assets of the property.  A large-scale departure of residents could point to a number of serious problems. Environmental issues, crime or an exceptionally low rate of employment can lead to a distressed neighborhood. An excess number of homes for sale as well as businesses sitting vacant or closing can be indicators of a problem.  If a home interests you but the neighborhood leaves you wanting more information start by talking to neighbors.  An internet search for neighborhood statistics can be helpful as well. Your agent can also supply you invaluable neighborhood statistics. 

2. Poor home maintenance - A home that seems as though it has not been properly maintained most likely has more issues than are visible.   Here are some examples:

•  Overgrown lawns with weeds
• Gutters with weeds growing
• Cracked, peeling or dirty painted surfaces
• Crumbling masonry
• Fixtures and appliances not functioning

3. Foundation Cracks - Examine the foundation from both outside and inside. While looking at the house outside make sure the yard isn’t graded toward the house, it could cause water to run down the foundation walls into the basement.  Foundation repairs are costly.  From the inside examine the foundation for damage. Look for horizontal cracks or any cracks bigger than one-third of an inch, which could mean serious structural problems.

4. Bad or Strange Odors - Pay attention to smells both inside and outside of the home. Cigarette smoke, pet odors and mold can be difficult to remediate. If the first thing you smell is cleaning products (especially bleach) or deodorizers, the seller may be trying to hide an undesirable smell

5. Faulty or Old Wiring - Check to make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don't work and warm or hot outlets or faceplates are all symptoms of wiring problems.  Today's appliances and electronics may exceed the capacity of homes built as little as 10 years ago

6. Fresh Paint on One Wall - While fresh paint is an improvement most of the time, it can also hide bigger problems, like water damage, mildew or mold.   Painting just one surface of a room could be an indicator of a hidden problem.  If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks.

7. Locked Doors - Areas that are "off limits" during your home tour can be a bad sign.  The seller could possible be hiding an issue.  Be sure to tour the entire house.

8. Foggy or Non-functioning Windows - Check for water in between double-paned windows and make sure all the windows are functional.

9. Structural Walls Have Been Removed - With the popularity of open floor plans in recent years many older homes have been renovated.  If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house.  Hire a structural engineer if you think any renovations are questionable.

10. Pests - Be on the lookout for unwelcome creatures as you look through the house.  Evidence of mice, Asian beetles, or even bees could be a problem.

If you are thinking of buying, and want to work with professionals who know your market give us a call at 612-656-9647 or click here to schedule a Free Buyer Consultation.  

It is that time of year, the snow is flying, holidays are around the corner and then it's the new year.  This is also the time of year that home buyers have the impression it is best to wait until spring, but truth be told, this is the best time to purchase.  

Here are 4 reasons to think about moving now versus later:

1. Less competition – While other buyers are sitting on their couches waiting for spring, you are prepared and ready to pounce on that great new listing.

2. Sellers who sell in the winter are more motivated - Most sellers will wait out the cold months in favor of a better climate, but those homeowners that list their home in winter, generally have a motivation to do so.  Perhaps a relocation for work, or even financial issues, because there is another force at work, many times the buyer is able to yield a better purchase price that peak buying season.

3. Prices will continue to rise – three years ago the Twin Cities housing market hit the bottom for real estate values, since then the values have consistently grown and are projected to continue that trend.

4. Mortgage Interest rate are projected to rise – While rates have remained at great levels throughout 2014, it is projected that they will rise in 2015 as high as one full percentage point

If you are thinking of buying, and want to work with professionals who know your market give us a call at 612-656-9647 or Click Here to schedule a Free Buyer Consultation. 

Plymouth has always been a top performing market within the Twin Cities area due to great schools, local amenities and it's proximity to major transportation for commuters.  But check out this info below out, we are at the lowest inventory levels we have seen since 2005.  This is great news for sellers, low inventory means rising prices as illustrated on these two graphs:

 Plymouth Home Inventory Levels

Plymouth Average Sales Price

If you are thinking of selling soon, and want to work with professionals who know your market give us a call at 612-845-7890 or Click Here

Want to know how to save money on your next home purchase?...Hire A Pro

The West Metro Home Group knows Buyer Representation and Professional Negotiating.  Buyer Representation, or more commonly known as a "Buyer Agent" is a real estate professional who specializes in representing the best interests of buyer clients throughout a real estate purchase transaction. There are many benefits of using a buyer agent, one of which is that it does not cost you anything. Our services are paid for by the home seller.

When representing clients we:

1. Educate you about Buyer Agency, outlining fiduciary responsibilities to you, which include: complete Disclosure, Loyalty, Confidentiality, Obedience and Accountability.
2. Save you time by searching the market for an affordable home that meets your criteria as well as find potential sellers who are not actively on the market through our extensive network.
3. Use the latest technology to give you a competitive edge over other active buyers in the market, including up to the minute automated searches, mapping software, electronic signatures, mobile devices and more.
4. View homes with you and provide comparative analysis. We can also refer you to expert home inspectors that will provide more in-depth analysis and advice.
5. Help you explore your financing options so you can make the best possible mortgage decision.
6. Negotiate like a Pro!  We help you prepare the best possible offer terms to make your offers shine and take care of the documentation details.  It is a competitive market for buying a home right now, a well prepared offer can make the difference.
7. Once under contract, we prepare the file for your Lender/Underwriting, shcedule closing with the Title Company, and make sure we meet our closing date without issues
8. Assist you, if necessary, in finding any additional home-related services you need while in escrow or after closing.
9. The best part, we hand you the keys to your NEW HOME! 

Ready to put us to work for you?  Click here to schedule a Buyer Consultation

Have you tried to sell your current home without success?  Do you still want to move?  We can help!  Selling a home is not an easy task, and statistically, 35.5% of West Metro homes listed by real estate agents fail to sell the first time on the market and this number is even higher if you factor in homeowners who try to sell their home "For Sale By Owner".  Watch this video to see the 5 Reasons a Home Doesn't Sell....

When a home fails to sell, homeowners are generally discouraged and feel their home will NEVER sell and have many doubts as to why another agent could succeed where the last agent failed.  Want to know the 9 Questions you need to ask yourself before you give up?  Fill out this form to get our FREE copy of How To Sell The Home That Didn't Sell and be one step closer to getting your home sold.

No matter whether you reside in Downtown Minneapolis or the suburbs of Plymouth, Minnesota staging a home almost always results in it selling faster and for more money. In this tough economic market, selling a house can be a challenge in even the most desirable locations or when the home has many luxurious features. Since creating a powerful first impression with prospective homebuyers is so important, it is crucial to have your home staged for success. Staging is done to make a home seem more welcoming or inviting to potential buyers while letting them envision themselves and their families living in the space. Every home has positive and negative features, stagin highlights the positives, so the buyers eye focuses on those.

For a potential buyer walking into the home for a first time, nothing is worse than seeing it vacant. Staging a home can be as simple as rearranging chairs or switching light fixtures. Ultimately, the goal with home staging is to create a peaceful ambience that potential buyers can see themselves living in. Often, our homes become a reflection of our personal tastes and preferences. As much as we may enjoy our artwork or wall colors we cannot expect every potential buyer to do so. Consequently, it is imperative to put your ego to the side and be open to staging with ideas that you may not personally like, but potential buyers will love.  Play to the masses, slip covers on older furniture or repainting walls to create a more neutral environment. Here are the hard factson why to stage your West Metro home:

 1. Receive a Greater Return on your Investment:

According to the National Association of Realtors, individuals that stage their home receive an average return on their initial investment of 8 to 10% when the house is sold. Typically, homeowners are instructed to spend between 1 and 3% of the home’s asking price on staging costs, but this is not required, and many times the effect can be created for very little time and money.  Refer to our Getting Ready to Show Blog for tips that don't cost much to prepare your home.

2. Sell your Home Faster:

Homes that are staged are estimated to sell 17% faster on average than homes that are not. Furthermore, the longer the house is on the market the more likely it is that a price reduction could be needed. Avoid having this conversation by investing in staging and recouping a greater return on your investment by selling your house for more money in less time. 

3. Play to Homebuyers’ Imaginations:

The vast majority of potential buyers cannot visualize the potential of a home. Consequently, it is imperative to stage a home to create a feeling of warmth, comfort and hospitality for every prospective buyer.  

As professional Realtors, we know that staging your home is imperitive to us getting you the most amount of money, in the least amount of time and with the fewest hassles.  For additional information on staging your home for sale, call us at 612-845-7890.  

Zachary Adams | Realtor | Wright Sherburne Realty | 612-845-7890