Hugo, MN

In this north Washington County community, just north of White Bear Lake, closed home sales were remained flat in again in 2011 as they were in 2010. This follows a year where they were up by nearly 43% in 2009. That shows continued stability especially since new listings are down significantly for the second year in a row with a 21% decrease. Unfortunately, the average sales price did continue to decline by another 6% from just over $192K to $180,950. The amount sellers are receiving on sales is down a bit compared to asking price but not dramatically. Unfortunately the average price per square footage dropped significantly in 2011 from $98/sq ft in 2010 to $90/sq ft at the end of the year. This is still in line with most other north and eastern communities. Time on the market to sell a Hugo home, did jump up a bit in 2011 but with homes selling in roughly 5 months this Washington County community is making good progress toward stabilization.

For additional details on the inventory levels in Hugo MN at the end of 2011, Click HERE.

Whether you’re buying or selling a home in Hugo, MN, you may find yourself wearing a beautiful pair of rose colored glasses. Buying or selling a home can be an emotional process, and sellers and buyers have different blind spots that they are susceptible to in a sale or purchase. This article outlines a few of the ways that you can prepare yourself for a successful transaction by taking off the glasses.

As a seller, you have an emotional attachment to the house you’re selling, particularly if you’ve had it for many years or if you’ve raised a family in it. It’s easy to subconsciously expect potential buyers to see what a wonderful home you have; how full of love and life it is. But it’s imperative as a seller to see your house through the eyes of a buyer who doesn’t have your emotional attachments:

Taking care of your home and keeping it from falling into a state of disrepair protects your investment and maybe your equity, while providing a safe, happy and healthy environment for your family but does not equate to a family room addition, a newly finished basement, a stylish new kitchen or master bedroom suite.

The buyer doesn’t know or care about how many trees you had to remove to put up the fence or how many you had to plant to block out the noise from the street.

Nor does your buyer receive the emotional value of your home, beautifully gift wrapped as a house warming present. They come with their very own set of hopes and dreams.

As a buyer, you also have perspectives that can cloud your judgment. The fact that it’s a strong buyer’s market has the potential to leave buyers feeling like they need to get not only a good house for a good price, but a mansion for a fire sale price. This can lead to disappointment over anything less than a steal, and an inability to move ahead on a good property for a good price.

A well cared for, meticulously maintained home may provide the perfect foundation for creating your dream home. Don’t overlook great “potential.” If the location is great, the structure secure, the heat, plumbing and electrical updated or declared safe by a licensed professional you may have stumbled upon a hidden gem.

Everyone wears glasses – colored perspective – when they enter into buying or selling a home. As you work toward selling your current or buying your future home in Hugo, MN, do what you can to see the other side of things. You’ll be well on your way to a successful closing!

Selling your Hugo, MN house can seem like a daunting task, and you have certainly considered the question “What do I need to do to my house to sell it?”.

There are a few places where you can spend remodeling money and be almost assured of a 100%+ return on your money, and the kitchen is the #1 spot. However, this doesn’t mean that you should just spend crazy amounts of money on the very finest appliances and features. As realtor Elizabeth Weintraub states in this article, “The high-end kitchens don’t return as much as the mid-range or minor kitchen remodels. Most buyers won’t pay extra for a built-in Sub Zero refrigerator, professional 8-burner stove, undermount sink or travertine floors.” So spend your money on the designs and upgrades that the majority of buyers are interested in. To wit:

Refrigerator Style
Nearly 80% of all kitchens designed by National Kitchen and Bath Association members used French Door refrigerators. Your freezer-top fridge will take your whole kitchen down a few notches in terms of “class” and interest.

Show it and Hide it
Show your appliances, such as your free stand mixer and blender. But hide your trash – remodels should include a dedicated storage unit for garbage.

Ovens
The demand for double wall ovens is on the rise, and while not critical to selling your Hugo home, this is one place that might be worthwhile to invest in to get a little extra notice.

Cabinets
Play conservative here; fewer buyers want “creative” cabinetry. Go for classic styles and finishes. Your house may not sell if your cabinets are not updated, that’s how crucial the look of a kitchen is to most buyers.

Counters and Sinks
You don’t need to buy granite to find someone interested in your home, unless it’s a very high-end home. Laminate counters will work. But be sure your sink has newer fixtures and are clean and new looking. Buyers don’t buy leaks and stains.

There are hundreds of place that you could spend money to remodel your home for a sale. Narrow your focus to the areas that are most important to buyers, and you’ll make your Hugo, MN house stand out from the crowd!

Looking at condos in Hugo, MN? You’ll need some good strategies to sort through what you are really looking for, what you can afford, and where you should start your hunt.

There are some good tips for everyone in this article, Five Strategies For Navigating The Summer Real Estate Market, which likens the current real estate climate to a summer clearance sale! Indeed, prices are low, and the time is perfect for buyers. But that doesn’t mean that you should go crazy and forget about some important common-sense strategies! Namely:

1. Know the lifestyle you want to live. Think through all your financial plans. This will prevent you from finding a “steal” on a condo and buying it even though it doesn’t really fit you or your plans. A cheap condo that doesn’t fit your lifestyle isn’t cheap!

2. Be realistic. Even in this amazing buyer’s market, you likely won’t be able to get every single thing you want for dirt cheap. If you’re looking for months and finding that you’re not finding everything you want in one condo, take your list of “must haves” and pare it down a bit – see if a few of them are negotiable to “would likes”.

3. Find a real estate agent who knows Hugo. You need someone with laser-like knowledge of a specific real estate market.

4. Read, read, read. Too many people get fed up with the process of condo-hunting, and “just want to get it over with”. Don’t fall into the trap of not reading every piece of paper that you sign carefully.

5. When you’re done reading, write. Write down what you can afford, and write down every “hidden cost” line item that you can find. As Ms. Nelson says:

On the scent of a good deal, and in the heat of the hunt, even the most meticulous homebuyer can go up a few thousand in offer price to beat out other buyers. No problem, right? Well, but then when the inspector uncovers a few needed repairs, they make a mental guess as to what they’ll cost, and add that in – again, mentally. Then, when the lender requires a few extra thousand bucks than expected to close, that goes on top, but again, only mentally. And mental money tends to stretch a bit longer than real money does!

The right condo for you is waiting in Hugo, Minnesota! With these five strategies, you will be well on your way to discovering a new home for sale that truly fits you, your budget and your lifestyle. We’d love to help you get started!