6 tips for selling in today's market!

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Some homeowners have been waiting for years for a better housing market and a good time to sell. Is it better to wait a few more years and see if you can realize a higher sale price, or sell now and move on with your life?

The motivation for selling is a key factor. Are you commuting to work several hours a day and the commute is killing you? Are your children grown and your home is now too big, in addition to being a burden to maintain? Is your home too small? Have you taken a job out of the area? Can you no longer afford to own your home? Or do you no longer want to pay the price it costs to own your home?

These are all good reasons for considering making a move. Not only do current market conditions enter into the equation, but making a move like this is usually more complicated than it was the first time you bought a home.

HOUSE HUNTING TIP: First, you need to find out the probable sale price of your home and access the state of the current home-sale market in your area. You also need to know what you can do to maximize the saleability of your home. Then you should consider where you'll live next and how much that will cost.

If you don't already have one, find an experienced real estate agent who specializes in your area. Friends whose opinion you trust are the best source of agent referrals. Meet with your agent at your home and ask for a comparative market analysis. This will give you information about what homes like yours have been selling for in the current market.

You'll also want to know how long you can expect it to take to sell your home. How many homes like yours have sold recently? Are homes like yours in high demand? Or, is it located in a less desirable area that could mean a longer marketing time and, perhaps, a lower price than you were expecting?

Ask your agent to walk through your home with you and point out what should be done to make your home marketable. Homes that sell today are priced right for the market and are in move-in condition.

You want to make cost-effective improvements. If the kitchen and bathrooms are outdated, consider a cosmetic redo. Update paint, hardware, light fixtures and floor coverings, if necessary. Don't do a complete remodel unless you plan to stay in your home for years; otherwise, you won't recoup your investment.

Deciding where to move -- and when -- can be difficult. Some buyers can afford to buy a new home before selling, and prefer to make the move that way. Most repeat buyers can't afford to buy first. Others who can won't buy first due to market uncertainty and the stress of owning two homes at once.

The most prudent approach to making a move from one home to another is to sell first and rent if necessary until you find the right home to buy. By selling first, you will know exactly how much money you have to apply to a new home. Today's housing market is volatile. A dip in the market could shave tens of thousands of dollars, or more, off your selling price.

The other benefit of renting before buying is that you're under no pressure to buy the first listing you see. Interest rates are low and are expected to stay low through 2012. Prices are also low and aren't expected to move up much for the next several years.

THE CLOSING: This gives you time to find the home that will suit you for the long term.

Drop me an email for information on both selling and buying.

~Dian Hymer, Inman News

Technology is Amazing! Check this out!

Technology from time to time we all accept as a growing and evolving human race. It's inevitable and sometimes fun. Recently I opened up my platform for MLS as I was working and this new app that was just launched really just blew me away.

Our local MLS called Northstar MLS was proud to announce that we are the first MLS to feature HomeSpotter in our NorthstarMLS for Smartphones application. HomeSpotter is a new feature that shows you MLS listings simply by aiming your iPhone or iPad at homes or condo buildings. Currently available for iPhone and iPad only, it is also coming for Android devices in the next couple months.

HomeSpotter overlays property information on your iPhone or iPad live camera feed. As you point your iPhone/iPad down the street, you see a view of the street and info on all the houses for sale pops up. There’s even a radar display that shows the direction and proximity of nearby properties for sale.

Now call me crazy but just 22 years ago when I got into the real estate business we were looking through big thick books like the "White Pages" of homes. Hands full of ink, sneezing from the fresh print like the Sunday paper makes us do. Now when I'm out showing houses I just hold my phone in the air like a magic wand and everything we need to know in the neighborhood is on my phone.

I know we all sit back sometimes and say "whats next"! But seriously what is next? We are going to have Avatar's out looking for homes and report back with the one you should buy?!

Crazy world we are in, but fun technology for sure! Email me if you want to go out and we'll hold our phones to the sky and find a house for you!

Good news in the housing market!

Everyone is wondering when housing values will increase. When will we hit bottom, I am asked often. My answer is the same. If only I had a crystal ball...What I do know is if we are not at the bottom, you will know when we hit bottom after you miss it!

We know many positive things are happening now. These stats are very important. Bottom line is Inventory is down, rates are down, buyers are in the market. This is good news whether you are buying, selling, or investing in rentals.

For Week Ending December 31, 2011 Quick Facts
Publish Date: January 9, 2012 • All comparisons are to 2011

Most observers would agree that this year's housing recovery was not as robust as
many had hoped. That said, a handful of things went right. Supply-side market
correction took the guise of inventory declines and a pullback in listing activity.
Consequently, sellers generally faced fewer challenges than in the past. Driven by
improvements in the economy and record-low mortgage rates, purchase demand
strengthened organically, independent of government incentives. Those sales gains
combined with falling inventories to move the market back toward balance. Nobody
knows what 2012 will bring, but it's a safe bet that these positive developments will
continue to evolve. I look for a very positive 2012!

In the Twin Cities region, for the week ending December 31:

• New Listings decreased 11.6% to 593
• Pending Sales increased 41.7% to 564
• Inventory decreased 24.9% to 18,341

• Median Sales Price decreased 5.6% to $145,000
• Days on Market decreased 2.4% to 140
• Percent of Original List Price Received increased 1.8% to 90.6%

If you or anybody you know needs assistance in the housing market please give me a call at 612.308.4708 or drop me an email. Check out my website @ www.go2joe.com

Uplifting Real Estate News!

While day traders continue along their roller coaster ride, 997 Twin Cities home buyers made the smart investment in real estate. That's 40.0 percent more than those who made the investment last year. As this year's pending sales trend line rounds off its seasonal peak, you'll notice that purchase demand is coming back in line with historical trends.

Sellers were another story. There were 1,433 new listings, 18.7 percent fewer than this time last year. Seller activity has also likely reached its seasonal peak but remains below historical levels for this time of year. Consequently, buyers have effectively absorbed existing supply. That's a good thing. The number of active listings is down 18.5 percent to 24,362 available homes for sale.

With strong sales and less new supply entering the market, the balance is shifting toward neutral. Both the prevalence and magnitude of seller concessions have stabilized, and absorption rates improved in July after 12 months of sizable increases. Though still slightly lower than last summer, prices have increased nearly 18.0 percent from March to June of this year.

If you or anyone you know is thinking of buying, the bottom we have all been looking for may be here! Drop me an email or call me at 612.308.4708. I'd be happy to help direct you down the right path. ~ Joe Koltes Visit my website at www.go2joe.com

Home Sales Rise in February!

WASHINGTON — Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales. >Economists had expected the index, which leads existing home sales by a month or two, to fall 1.0 percent after a previously reported 2.8 percent decline.

This is especially good news from everyone's perspective. The spring market in real estate, generally the best time to get a home sold, is February through July 1. A drop in home sales in February would be an indicator of a slow housing recovery in a thought to be good time to sell.

When thinking of selling or buying, consider this: If your home has lost $50,000 in value, most likely the home you'd like to purchase has too. The benifeit to this is lower property taxes. The home you are purchasing will have a lower market value, meaning lower property taxes thank you would have paid 5 years ago.

Also interest rates are in the 4.5% fixed for 30 year range. This means thousands of dollars saved over the life of your loan verses buying 5 years ago.

Call me or email with any questions or if you'd like a FREE MARKET ANALYSIS, I'd be happy to help!
~Joe Koltes

Home sales continue upward movement!

"You don't know what you've got 'til it's gone." – Cinderella, 1980s power-balladeers

This week's quote-of-note applies to the current situation of available
inventory in the Twin Cities housing market. Our disappearing
supply—down 21.4 percent from this time last year—is being caused
by absorption from strong pending sales activity (up 18.2 percent year-
over-year for the week ending July 18) and weak new listings (down
12.1 percent for the same time period comparison). Click here for full version of stats ending 7/19/09. Exciting stats!
With a consistently shrinking inventory and more buyers this summer
than we've seen since 2005, buyers who lack urgency could find
themselves singing along to that sad classic Cinderella song.
Meaning: Contact me today so you don't miss out~

Something to consider: Whether you are in the market or not. It is in everyone's best interest to use a REALTOR that has experience and expertise. Would you let a friend or relative work with just anyone? Refer them to me. I will take care of them and make sure they are protected, and get the best deal possible.

Pending Sales up 34.6% over Last Year!

The Twin Cities housing market experienced its annual pre-
Independence Day drop in activity as fireworks, barbeques and lake
cabin excursions preoccupied the minds and schedules of many Twin
Citizens. New listings took a steep dive prior to the holiday, dropping to
1,482 for the week ending July 4. This is an 8.3 percent decrease from
the same week in 2008. Full Report Click Here!
Pending sales also dropped to 989 for the week ending July 4.
Fortunately, this stat is still a healthy 34.6 percent above where it was
last year, when there were just 735 pending sales reported.
Further metric watching:
Housing Affordability Index – 192. While astoundingly high, it has
dropped since January due to price rebounding and higher mortgage
rates.
Months Supply of Inventory – 7.3. This is a 31.1 percent decrease from
the 10.6 figure posted last year at this time.
The market is showing signs of slowly moving back towards balance.

If you are looking to buy or sell, please call and I can help you out! 612-308-4708 Or click here to email me anytime! Remember 1st time home buyers receive $8,000 back when purchasing a home prior to November 1st 2009!

Types of Carpet

CARPET CARPET CARPET!

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When people are looking for carpet, there is much confusion about style and pile they say. This aims to help clear up all the different styles and types.

Cut Pile

The best-selling type of carpet is textured cut pile. Cutting looped carpet fibers at the top creates cut pile with yarn bundles standing straight. Preshearing cut pile several times creates a luxurious appearance. Cut pile is less resistant to crushing than other types of carpet.

• Saxony

Saxony's are tightly twisted cut piles that are heatset straight. Saxony's consist of two or more fibers twisted together in a yarn. They provide a soft texture for formal and informal areas. Saxonies show every footprint and vacuum-cleaner mark. These carpets have medium durability.

• Texture and Textured Saxonies

Textures are the best-selling carpets and work well in informal areas (such as family rooms and children's bedrooms) because of its soft feel. Textures are tightly twisted and texture heatset for medium durability. They have a multi-colored look that disguises tracks and footprints.

• Velvet/Plush

Velvets/Plushes are lightly twisted and have a uniform color. They are softer and more level than textures. This type of carpet is ideal for formal areas (such as formal living rooms and master bedrooms) because of its luxurious appearance. Velvets/Plushes show every footprint and vacuum-cleaner mark.

• Frieze

Frieze is a highly twisted cut pile carpet suited for high traffic, informal areas. It has short fibers that tend to curl in different directions at the surface to hide footprints and vacuum marks.

Cut and Loop Pile

Cut and loop pile combines cut and looped fibers. It provides a variety of surface textures or sculptured effects for medium durability. Cut and loop pile carpets are available in solid or multiple colors. The different levels in this type of carpet can hide dirt and footprints in formal and informal areas.

Level Loop Pile

Level loop pile is made by weaving even loops of yarn into carpet backing at both ends. This type of carpet is very durable and track resistant because of its strong loops. Higher loops create a more luxurious appearance. Level loop piles with short and densely packed loops are easy to clean. They prevent dirt from filtering into carpet. This type of carpet is ideal for high traffic areas.

• Berber

Berbers are increasing in popularity faster than any other type of carpet. Berbers limit footprints and vacuum tracks in informal areas. Berbers can have thicker yarns than other level loop pile carpets for high durability. These loops can retain dirt and may be damaged from snags. Berbers come in expensive wool fibers or less expensive nylon, olefin, or nylon-olefin fibers.

Multi-Level Loop Pile

Multi-level loop pile is like level loop pile except that the loop heights vary (usually two to three different loop heights). This carpet creates an appearance of random texture. This type of carpet is good for high traffic areas but the smaller loops can sometimes hold more dirt.

Selling your Home

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20 Tips for Selling Your Home
As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you’ll help your RE/MAX Sales Associate sell your home faster, at the best possible price.

The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help you get everything in order - from repainting the kitchen to providing a thorough cleaning - so you can stay focused on more important things.

1. Make the Most of that First Impression
   A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.
2. Invest a Few Hours for Future Dividends
   Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you’re worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
3. Check Faucets and Bulbs
   Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home.
4. Don’t Shut Out a Sale
   If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.
5. Think Safety
   Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
6. Make Room for Space
   Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.
7. Consider Your Closets
   The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.
8. Make Your Bathroom Sparkle
   Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.
9. Create Dream Bedrooms
   Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
10. Open up in the Daytime
    Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.
11. Lighten up at Night
    Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
12. Avoid Crowd Scenes
    Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.
13. Watch Your Pets
    Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.
14. Think Volume
    Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.
15. Relax
    Be friendly, but don't try to force conversation. Prospects want to view your home with a minimum of distraction.
16. Don't Apologize
    No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let your experienced RE/MAX Associate handle the situation.
17. Keep a Low Profile
    Nobody knows your home as well as you do. But RE/MAX Sales Associates know buyers - what they need and what they want. Your RE/MAX Associate will have an easier time articulating the virtues of your home if you stay in the background.
18. Don't Turn Your Home into a Second-Hand Store
    When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
19. Defer to Experience
    When prospects want to talk price, terms, or other real estate matters, let them speak to an expert - your RE/MAX Sales Associate.
20. Help Your Agent
    Your RE/MAX Associate will have an easier time selling your home if showings are scheduled through his or her office. You'll appreciate the results!