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Unfortunately I have not found a source to measure underwater homes at the city level. I haven't even been able to find a source for the state level aside from what I see from News Sources.
However, we can see which listings are in Foreclosure, a Shorts Sale and Traditional.
The Chart below shows the distribution of inventory in Blaine, Minnesota.
What we really want to look at is inventory and as you can see in the chart to the right Blaine entered a Balanced Market in August 2011 and is nearly a Seller's Market.
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LOCAL INFORMATION IS ESSENTIAL
I’ve selected the Red Oak Neighborhood in Blaine MN to show just how important local information can be. The housing statistics on the first page below are for the entire city of Blaine and are not necessarily accurate or detailed enough to make a good local decision. The second page is a customized breakout specific to our neighborhood. As you can see, the local figures are quite different and much more detailed. The median price for the City of Blaine was up 4.6% at $159,950. However the Red Oak Neighborhood median price was down across all categories with Traditional Sales at $150,000, Foreclosure Sales at $104,900, and Short Sales at $117,750. When making a decision, you need the most recent detailed local information you can get your hands on. For detailed information for your neighborhood, give me a call!
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You have a beautiful Anoka County home you need to sell. It is not a short sale but you know you will be competing with them, as lender mediated and bank owned properties are scattered from Blaine to East Bethel and back again. Selling an Anoka County Home shouldn't be difficult but it can seem like very real estate website you visit, the agent is a short sale expert. But you want a REALTOR® that can market your home to stand out from the pack because YOUR home is not a diamond in the rough…It is a shimmering gem that should attract buyers who are buying the dream, not the price.
That’s my job.
See when my colleagues were learning about selling homes short and negotiating with banks, I took the classes too. But also realized the regular guy, who didn’t have a hardship that will qualify him to sell at a discounted rate or didn’t need to jeopardize his stellar credit score, might NEED to move. Relocation; Marriage; New Baby; Retirement and other life changing events bring traditional sellers into the real estate market. These sellers need to move but in order for the home to sell it needs MARKETING.
When I was in college studying for my business administration degree in marketing, the 4 P’s of the marketing mix were drilled into my head: Product, Price, Promotion, and Place. These aspects work together as a part of a successful marketing plan. However many short sale and foreclosure focused agents have started to care only about PRICE. Their PRODUCT is distressed and frankly, PLACE is location so there is little that can be changed about that for any part of the real estate sale. So in order for the traditional seller’s home listing to stand out and get sold, you must find an agent who can focus on PROMOTION.
That’s where I come in…I have been in sales and marketing for nearly 30 years and successfully selling homes for over a decade. In this changed real estate market, I continue to get homes sold for traditional sellers and help them move on to their next stage in life. Sure we still need to PRICE the home correctly, but I do not ignore the marketing dimension.
And you don’t have to just take my word for it, take the word of my sellers. Here is just a sample of the thank you notes and testimonials I have received from happy clients.
“After a period of internet research, I was impressed by the type of feedback you were giving everyone on selling their home.
You were straightforward, honest, down to earth and extremely hard-working. The fact that you were able to sell our townhome in the worst market in decades speaks volumes about the way it was marketed.
Teri, we couldn’t have chosen a better person to work with us. We were very pleased with the attention and effort you put into selling our townhome. Thank you. Thank you. Thank You!” Brian and Dawn O. of Chaska, MN
“Thanks again for your excellent work to sell our lake home despite the difficult economic situation!” Maggy and Robert Z. of Tarpon Springs, FL
“Teri—We really appreciate all you have done to make our dream a reality! We will give all of your friends & family our highest recommendation to use you in the future!” Sherry and Adam M. of Oak Grove, MN
"Teri had previously sold one of our homes and was our first choice when we were looking to find a new home.
Teri was able to help us navigate the current unstable real estate market and went out of her way to help us.”Cheri and Denny L. of Apple Valley MN
If you need to sell your home in this changed real estate market, consider working with a REALTOR® that understands all aspects of the marketing plan. I will work hard to get your home SOLD so you can move on to your next step in life.
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Townhomes, Single Family Homes, Twin Homes, Oh MY! Yes, first time homebuyers in Blaine Minnesota have lots of options in 2012. Whether you want the opportunity of a foreclosure, the security of buying from a traditional sellers or the ability to live in a brand new home, there are many affordable options for the first time homebuyer in Blaine. With price per square foot at $88, first homes in Blaine, MN are incredibly affordable.
The number of new listings decreased considerably in Blaine, Minnesota through 2011 as did the average sales price. Blaine’s lender mediated foreclosure/short sale homes in the lower price points that worked their way through the system continued to affect the average sales price. With this the average price per square foot dropped over 11% from triple digits to $88/sq ft. The lower pricing has brought out the buyers as closed sales are up for Blaine in 2011 over 2010. Listings are moving at relatively the same pace taking just a week longer to sell than in the previous year, up from 125 to 132 days on the market. Blaine sellers did receive a bit less than asking than in 2010 but still over 92% This north metro community has sold through most of its current home inventory and remains an affordable option for first time home buyers. With low levels of inventory in the lower price points, 2011 might be the year for a traditional seller with a starter home to have the opportunity to move up in Blaine, Minnesota.
Are you a FIRST TIME HOMEBUYER ready to buy a home in Blaine, MN?
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