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Spring Assist
The average Minnesotan may have noticed it last spring (2005). The real estate signs popped up right on schedule with the spring tulips just as the snow melted and ground thawed. Soon neighborhoods were filled with signs advertising new listings and open houses. But as Memorial Day came and went, many Twin City residents began to question why the house down the block had not sold. At spring baseball practices and graduation parties, people across the metro were asking, "Hasn't that house been on the market for over a month?" The usual answer was, "Something must be wrong with the house." As the summer progressed and more houses came on the market, observant neighbors began to realize no "SOLD" signs were going up. Minnesota homeowners were hit with the reality of a Buyer's Market.
So what is a Buyer's Market? For many Minnesotan's it may be hard to remember. After all for the past eight years or so we have experienced a red hot seller's market. There were many, many more buyers looking for houses than sellers wanting to sell. A homeowner who chose to sell could set a price on his property, put the listing on the MLS and get an offer in days. Many sellers were faced with multiple offers with some exceeding the asking price by thousands. Ah, the good old days!
A Buyer's Market is just the opposite. The Twin Cities (and greater Minnesota) now has an inventory of homes on the market that is expected to last 3-4 months, with no new listings. In a typical area, a buyer might have 10-20 homes that will meet their needs and price parameters. If the buyer is flexible on location and amenities, they can have upwards of 50 homes to choose from. With so many options, home buyers are taking their time, becoming educated, and being very picky before making a home purchase.
So what should Minnesota homeowners do if they are considering selling their home? It may be hard to wait out; a typical market swing can last 5-7 years. (It was a seller's market for almost eight years, after all.)
*Get your home in tiptop shape! Fix everything! Yes, that does mean you need to put on a new roof or fix the shower or strip off the ugly wallpaper in the kitchen. Whatever needs repair or is outdated needs to be fixed. Project houses do not sell well in a buyer's market unless they are very, low priced.
*Work with an experienced Realtor to price your home realistically. The refinance appraisal you received last fall will not be applicable. It is very important to look at the current competition in your neighborhood and surrounding areas and compare all of the amenities. If there is a better deal out there, the buyer's won't consider your home at all.
*Consider FSBO only as a last resort. This is not a market where an MLS listing and a sign in the yard will sell your home. Work with a professional Realtor to get the most from your investment.
*Be Patient! Even with professional marketing, it will take time but homes do sell in Buyer's markets. It just takes longer both in preparation and duration.
Copyright 2006 Teri Eckholm.
Written by Teri Eckholm, Realtor
Keller Williams Premier Realty
http://www.terieckholm.com
Teri Eckholm is a Minnesota Realtor with Keller Williams Premier Realty serving clients in the Twin Cities metro area for over five years. Selected as a 2004 and 2005 Super Agent by Mpls/St. Paul Magazine, her extensive sales and marketing background has allowed her to assist hundreds of clients move from across town and across the U. S. Find additional information on Teri and the Twin Cities metro real estate market at http://www.terieckholm.com.
I'm in need of volunteers, to work towards and assist me with a Spring festival?
If anyone in the Houston area is interested in volunteering for my festival please e-mail me at KiaraClark@gmail.com (there are some perks!)
What kind of festival?
What are the dates and times needed for volunteer work?
What kind of work does this include?
Is this festival associated with any major charitable organizations?
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KnivesDeal.com - Auto Spring Assist Knife. A Great Alternative To Automatic Switchblades
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 ◆ Spring Assisted Opening Black Steel Night Hawk AO Pocket Liner Lock Knife ◆  US $9.99
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 ◆ Spring Assisted Opening Black Steel Night Hawk AO Pocket Liner Lock Knife ◆ US $9.99
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Another great place to shop for Spring Assist products is Amazon. They have more than just books!
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All-Clad Copper-Core Saucepan with Assist Handle
$412.50 All-Clad Copper-Core Saucepan with Assist Handle This stunning 18/10 stainless steel saucepan has features that appeal to many of the world's elite chefs. It has a 5-ply bonded design to maximize heat conductivity and responsiveness. It has a copper core, which provides for maximum heat conduction. This core is bonded on both sides with aluminum to enhance heat distribution and reduce weight. Bond... |
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Final Touch Easy Turn Corkscrew with Spring Assist
$20.00 Simple and elegant on the outside, and a complex powerhouse on the inside. Its inner components are what sets this corkscrew apart from the others. The unique action of the internal spring along with the tension guide and weighted design create a smooth and easy cork removal with every use. Absolutely effortless. Perfect for individuals who have limited strength or abilities with their hands. The ... |
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Blodgett 100 Gal Direct Steam Pedestal Kettle W/ Spring Assist Cover - KPS-100DS
Blodgett 100 gallon direct steam pedestal kettle w/ spring assist cover blodgett steam kettles are available in floor, tilting, or stationary models. kettle sizes range from 6 to 100 gallons and offer a variety of options that will provide the perfect solution for your kitchen. the highly polished 304 stainless steel interior is easy to clean. the controls are simple and easy to use and include a ... |
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On Tour.. Sahara Safari
$9.99 ... |
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On Tour.. Sahara Safari
$1.99 ... |
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Trademark Spring-Assisted Tactical Pocket Knife
$6.99 This stainless steel super knife is a must have for anyone who appreciates a quality pocket folder at a great price. It features a blade which opens effortlessly and securely locks into place and also a convenient belt clip so it will always be at your side. Features include:3.25 inch bladeStainless steel bladeIncludes belt clip4.5 inches folded8 inches when open... |
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Brass Knuckle 8 Spring Assisted Trench Knife Black
$11.98 Brass knuckle folding knife 3.5" blade surgical steel... |
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Smith & Wesson SWATMBS Swat Medium Serrated Assisted Opening Knife, Black
$53.07 ... |
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Gerber 22-47162 Fast Draw Spring Assisted Opening Stainless Steel Fine Edge Knife
$22.93 With spring-assisted technology, the Gerber Fast Draw Knife deploys quickly and easily with one hand. This fine edge knife can be triggered using the thumb stub or with a sudden release of the index finger. The Fast Draw features a high carbon surgical stainless steel blade and tactile texturing on nylon handle. The blade measures 2.99 inches in length. A sturdy pocket clip keeps it close at hand.... |
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Manfrotto 804RC2 Basic Pan Tilt Head with Quick Release Plate with Two Replacement Quick Release Plates for the RC2 Rapid Connect Adapter
$69.99 3-way photo head constructed of ultra durable and lightweight technical polymer, the 804RC2 easily withstands the daily rigours of the professional photographer. A unique spring feature has been added to the 804RC2 to assist in the tilt motion of the head to compensate for heavier, off-centre loads. Ergonomic and newly designed handles fit comfortably in the hands, while the standard quick release... |
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