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Edina Realty Mortgage rates for the weekend of Feb. 6th are 4.75% to 5.25% for a 30 Year Fixed Conventional Mortgage. Visit Edina Realty Mortgage for other programs and specifics.
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Low Cost/Big Impact Home Improvement Ideas
These days everyone is looking to save a $$$. Many home owners are opting to stay put and spruce up their homes rather than sell them. Home owners opting to sell are often stretched financially already and feel improvements to promote the sale of their home will be too costly. Whatever the circumstance, home improvement doesn't have to be costly to have a BIG IMPACT. Try some of these affordable home improvement ideas.
1. INVITE PEOPLE IN -Spruce up the exterior front entry! Consider a new front door and/or window. Clean the glass around the entry, polish the doorbell, paint the door a fresh color, sweep the step, remove cobwebs, add a plant to the step and make sure the porch light is functioning, clean and attractive. Buyers wait on your front door step 30-45 seconds while an agent unlocks the home and THEY NOTICE everything in that time!
DO -Feel free to add a bit of color to the door to make it POP!
DON'T forget to clean up after the dog that uses this area. (I'm begging you!)
2. PAINT - It is amazing what a fresh coat of paint can do. Try it, you'll like it. If you are selling your home choose neutral colors. The warm grey family is becoming more popular than the beige family.
DO - Use a variety of paint shades in the home or it looks too boring in your listing photos.
DON'T - Paint everything white. This produces very bland online photos
3. CLEAN - It is also amazing what a good, completely thorough cleaning job can do for a home. Polish the brass accents, dust the light fixtures and clean the bugs out, degunk the door knobs, get all of the paint drips off the woodwork, fix all of the painting "oops" on your ceilings.
DO-Make everything SPARKLE!
DON'T- Forget the closets and garage.
4. UPDATE THE KITCHEN - this is an update that is never wasted. Some inexpensive updates include adding a backsplash. One of my favorite backsplashes is a rolled sheet of stainless steel which applies with adhesive. This is so easy to clean, looks fresh and you can apply magnets to hold your recipes while cooking. Changing the cabinet faces is another inexpensive update. Your local home improvement store has many options in stock or to order. You may also be amazed at thein-stock countertops at the home improvement store. If you install these yourself the cost may be as low as $300. If you can't replace the cabinet doors think about updating the cabinet hardware. Clean the cabinetry and use a wood oil to make them shine!
DO-Update your kitchen curtains with something contemporary.
DON'T forget to pour baking soda or lemons down your garbage disposal and clean inside your dishwasher and oven.
5. REPLACE LIGHT FIXTURES - We forget about our light fixtures so easily but light fixtures, curtains and flooring are the items which date a home quickly and efficiently. It is nice to have a consistent look in fixtures throughout the entire house. If you can't change the fixture, see if you can change just the glass globe. This works especially well with ceiling fans.
DO - Make sure all fixtures within your view match.
DON'T forget to make sure the fixtures compliment door hardware and other colors in the home.
These are just a few of the very affordable things you can do to make your home look and feel updated and appealing. Feel free to share your great ideas with a comment on this post!
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Tuesday, Feb. 2nd:There are currently 684 single family homes available for sale in Rochester. This is 19 more than one week ago. There are an additional 205 townhome and condominiums for sale.
85 Rochester homes have pending contracts which is 3 more than one week ago.
Average Days On Market (DOM) for these pending properties is 135 days. This figure is DOWN 5 days from just one week ago.
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Not so long ago a "Short Sale" meant you dashed to the local department store to shop for for the latest summer fashions. These days you are more likely to hear the term as it relates to real estate sales rather than clothing sales.
A short sale in real estate occurs when a home sells for less than the amount owed plus selling expenses. It is a common occurrence in much of today's real estate markets. Edina Realty estimates that approximately 35% of their home sales in 2009 were short sales or foreclosures. Almost every economist expects this trend toward short sales and foreclosures to continue into 2011.
So what does a seller do when they need to sell their home but can't sell it for enough to pay off their current mortgage?? This is where an experienced real estate agent such as ourselves can help! Banks, in general, would much rather negotiate a short sale with the home owner rather than allow the home to go to foreclosure.
We can help list your home, negotiate an offer contingent upon a banks approval of a short sale, and negotiate with the bank on your behalf for the approval of the short sale.
Banks work with sellers to provide several options to the home owner. Usually we can negotiate a small loan from the bank to make up any difference. This happens when home owners have wrapped their car and boat payments into their home mortgage or have any other assets. We can help arrange a car/boat loan thereby reducing the total amount of the home mortgage.
If you would like to sell you home but feel it will not sell for an amount high enough to pay off your mortgage plus selling expenses AND you've suffered one of the following hardships, you are the perfect candidate for a short sale:
In a market where the average home in the nation has lost 25% off its peak value short sales may just become the norm for the next few years. Call us and we'll help you navigate the maze of today's real estate market.
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According to data from the Southeast Minnesota Association of REALTORS® (SEMAR):
There are 663 active listings on the market. this is 40 more listings than just two weeks ago.
82 homes have pending contracts.
2009 YEAR END DATA
2009 sales were down 7.2 percent from 2008.
December's average sales price was down 14 percent from Dec. 2008 to $127,687.
2009 new listings were down 8 percent from 2008.
2009 active listings were down 7.2 percent from 2008.*
Average days on market were at 159 compared with 124 this same time last year.
*Active anytime during date range (1/1/2009 â€" 12/31/2009).
This data was compiled from SEMAR MLS between 2007 and 2009 for closed transactions (or active listings).
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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