Sellers today are competing with foreclosures and their low prices. So how can sellers set themselves apart? Go that extra step when banks won’t. It seems like a no brainer but curb appeal is important. Most foreclosures have run down yards. Have your yard freshly cut, minimize weeds, trim your bushes and put out bright flower pots and/or hanging baskets. Create a clean environment by removing cobwebs in the entry and make it a warm, inviting space. Buyers are waiting for the Realtor to open the door and are already noticing how the home is maintained. Sellers should continue this trend to the interior. Update with today’s trends, clean carpets, paint any worn or outdated walls and minimize clutter. You have to pack things anyway so why not start now? Your Realtor will also go with you room-to-room and help compile a list of some little tips to set you apart so you can demand a higher price. Cardinal Realty has compiled some of our most Frequently Asked Questions that may help you in the journey to selling your home.

Oakdale Statistics

For the month of June 2011 there were 59 new listings (homes for sale) in Oakdale which is 13.5 percent more than June 2010. There were 31 closed sales which is 27.9 percent lower than the same period a year ago. While the decreased number of sold homes may seem like bad news, at this time last year we were closing many of the homes that were offered the tax credit. The sales prices only decreased by 2.4 percent when compared to last year. This decrease can be attributed to the high number of foreclosed homes and distressed properties that have sold. Sellers are receiving about 91 percent of their asking price and homes are taking, on average, 120 days to sell. Keep in mind that sale prices do not reflect any seller paid concessions (i.e. buyer’s closing costs) that may have occurred.

The statistics point to a “buyer’s market," making it an excellent time to buy a home.  Interest rates are low, inventory is solid and sellers are ready to negotiate.

To view more statistics in Oakdale click here

Woodbury

For the month of June 2011, new listings (homes for sale) declined by 19.6 percent compared to June 2010. The number of closed sales increased by 15 percent and sale prices also declined by 21.6 percent for the same time period. Sellers are receiving about 91 percent of their asking price, which is very similar to the previous June. The number of days on the market increased by 24 percent to 146 days.  Sale prices do not include any seller paid concessions (i.e. Buyer’s closing costs).

The news above may seem encouraging—with less inventory coming onto the market and the sales price increasing we are seeing more balance to the market. With the help of a Realtor your home will eventually sell if you have it priced correctly and in good condition.  The market continues to be a “buyer’s market” due to the large supply of homes for sale. Interest rates are low, inventory is solid and sellers are ready to negotiate.

To view more statistics in Woodbury click here

Cardinal’s tip of the month

If you haven’t done so recently, you may want to check your hot water heater for mineral buildup, drain and refill. 

This monthly column is provided by Cardinal Realty, Homebuilders and Remodeling, a local, family-owned business for over 50 years. Please contact us for additional information at 651-739-8033 or www.cardinalrealtors.com

*Monthly statistics are provided by Minneapolis Area Association of Realtors