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Archives for August 2015

FSBO or How to get your home on the MLS without a Realtor

FSBO MLS Twin Cities

There is two or three Real Estate firms in the twin cities that will put your home on the MLS for a Flat Fee.

Google FSBO MLS and it should pull up a Real Estate Agency who will do a flat fee $500 or so and will put the listing on the mls.  You’re only paying for them to put it on and that is all your probably going to get.

The reason why I say this is I put my home on as a fsbo before becoming a realtor and I now look back and think about how I must have been a joke to people that were looking at homes.  You send the flat fee mls realtor the pictures and they send you this confusing form and any questions you have, they don’t typically help since you are listing your home for sale and your paying a flat fee.

Realtor.com has an article stating that seller that sell their home themselves lose more money.  Click here to see article

I look back and think about how I was a sheep among wolves trying to list my home against other realtors.  I laugh at it now  since it was a good thing it didn’t sell. I went back and looked at the legal forms that I need to have filled out and yep I did them wrong.

After 7 years of marriage I have learned to listen to my wife.  I used to try to do everything myself and try to save a buck here and there.  What I have learned is you have one resource that you can’t buy more of no matter how much money you have.  All of us only have so much time here and once it is gone, it is gone.  My wife taught me that I wasn’t saving any money trying to learn how to do something that I had no business trying.  It is one thing to have a hobby and it is another to try to do something that others have been doing for years and years and have learned through failing and succeeding and think that I was just going to do it as good as them.

If you think what Realtors do is easy, then please call me and I will hire you.   Selling Real Estate is a very complex, competitive and also legally liable industry.  Don’t get me wrong, I love what I do and that is why I am so passionate about it.

My lesson to you is,  My wife was right (cough cough) sorry something in my throat and that hiring the right professional to do the job is going to save you money.  I am not saying hire any professional. Do your research since there is people out there that just take advantage of people.  Plus side is that if you hire a professional and your spouse is not happy, then the responsibility is not on you.

I hope this has helped with questions about listing a FSBO and hopefully your marriage too!

Selling Your Luxury Home in the East Metro Twin Cities MN

Want to know more about selling your Luxury Home in Minnesota?

I was on the phone with a another Realtor and we’re going over some of the comparable Luxury homes in the area for the east Metro of the twin cities in the million dollar-plus range.

It made me thing about this little bit even through I do Comparative Market Analysis (CMA) for my listings in the area and for the new construction Luxury Homes that I work with.

It was a very interesting conversation because on the market on the eastside of the Twin Cites Metro is very different than the West Metro, north or south.

The West metro homes are way more I closer to Minneapolis so there’s a lot more I drive to purchase a home over there which pushes purchase price from a million plus up and same thing with Edina, Minnetonka,  and Plymouth. There is also less undeveloped land on the Westside of the twin cities.

On  the eastside of the metro it is further away from Minneapolis by 45 minutes versus 20 minutes from the Westside metro unless your talking about Orono or Victoria or Chanhassen.

With this being said, the driving distance and the land available is a factor in your going to sell your Luxury home and the reason why is because right now if you want to build your own dream or your own house that is completely custom, which the latest thing is the indoor sports courts, the custom four season porch with barn beams and the rustic elegant look, more simple look to the house and luxury home but yet age distressed look  is what people are wanting now a days.

That being said if your luxury home is older and you’re looking to sell in the east Metro area, I went and researched back and what’s different between 1 Million to 1.5 Million and 1.5 million. On the westside of the metro we have comparable homes in ranges 2 to 5 million.

On this side of the metro (eastside) unless you have a unique home that is 10,000 SQFT or is  riverfront or lake front it is harder to get about 1.5 Million for your home.

I know you may have built the home for 2.2 Million or purchased it for 1.5 million and put 300k  into, but the truth of the matter is that there is still land available and once the bridge goes through on hwy 36 (by Stillwater) and WI land is even cheaper, you’ll see more Luxury Neighborhoods Wisconsin.

 

It is also less to license cars as I found out from a guy who has a $150,00 BMW I8 and he only pays $45 to register where here in MN we go on the price of the car.

If you’re looking to sell your luxury home in the eastside metro, and your over the 1.5 million mark more in the east Metro, were not talking about Dellwood and Grant that is more northeast  metro; I am talking about Lake Elmo, West Lakeland, or Afton and we will have to find that unique buyer for you since so few homes have sold over 1.5 Million and here is my research telling why.

There has only be 6 homes that have sold for over 1.5 million on the books in the east metro since 2010.

Since 2000 including the real estate boom 27 homes of  1.5 million or more  have sold in these areas.

Now let’s calculate the difference (since 2000) of being under 1.5 million ( 1 Million to 1.5 million)  in the east metro for luxury homes and your looking at 109 houses sold.

To sell that home that you paid over 1.5 million for, we’re going to have to find the right buyer or your going to have to go under 1.5 million.

Also, there is only about 25 to 75 buyers looking to purchase in the 1.5 million range and there is roughly 200-400 homes for sale in this range not including that these buyers can build almost anywhere in the Twin Cites compared to buying your home.

I know anyone could call me up today and I can find them a lot from 200k to 500k and build there own dream which has everything they want for 1.5 million versus buying yours which may not.

Thanks for reading and watching and please feel free to contact me with any questions.

 

Luxury Home numbers for the Twin Cities MN for July 2015

Luxury Homes Numbers for July 2015.

Check out our YouTube Videos on Luxury Homes by clicking on the picture below:

Dale Frisch Attractive Realty

Luxury Homes MN July 15 Current Listings

Looking at this graph of Luxury Homes in the Twin Cities MN will show you that the lower price brackets have a decent amount of Luxury homes for sale.  What is interesting is how many Luxury homes are for sale in the 1 million to 1.5 Million dollar price range.  The question that you may ask yourself or at least I would is: “Do we under price our home at under a million to sell it quicker since there is much more inventory in the Million dollar plus range?”

I had one client that was very worried about going over a million dollars when building their home.  It almost seemed that they thought that by going over a million dollars that they were actually wealthy.  It was very interesting to me how they seem to not realize that they were.

Luxury Homes MN July 15 Month Supply

The month’s supply is very high in the upper brackets but this due to less buyers in those ranges and ability to build what the buyers really wants vs buy preowned.

Luxury Homes MN July 15 number of real buyers

Luxury Homes MN July 15 numbers Avg days on Market Luxury Homes MN July 2015 Pending homes Luxury Homes MN July 2015 percentage of list price Luxury Homes MN July 2015 sold to listed percent Luxury Homes MN July 2015