Mitch Culbreath, Realtor - February 4 Market Update and Open House Schedule

Happy February!  Here’s another version of my market update and open house schedule!

 Market Update

Usually the spring housing market doesn’t start until either Super Bowl weekend or the snow starts to melt a bit.  Maybe it’s because the weather is already surprising to the upside and Super Bowl weekend just around the corner, but the housing market is already active and, yes, it’s multiple offer time again in the Twin Cities metro area.  Inventory remains tight and interest rates seem to be settling in at 6.5% or so, with hopes that they begin to inch downward throughout this year. 

Buyers:  If you plan to buy something move-in-ready (the “wow house”), plan to compete.  I know it doesn’t seem fair and why does it have to be this way, but plan on it again this year.  If you’re ok doing some cosmetic repairs, you might have the good fortune of being the only bidder.  But don’t count on it!  If I’m the listing agent for the home you’re offering on, my job is to get the best deal for the seller.  That means that as soon as I receive your offer and notify the seller, I’ll be reaching out to anyone else that has an interest, hoping to find competitive bids. 

If you’d like more detail on how to make competitive offers, let me know and I’ll email you a copy of my two-page guide, Components of a Strong Offer.

Sellers:  A strong market doesn’t mean you get to just sit back and count your money.  Buyers are extremely picky.  Remember, we’re continuing into year 5 of a crazy, competitive market and buyers aren’t just buying anything you put out there.  Some of my buyers have been looking for 3 or 4 years and they’re willing, now, to wait longer.  Your home needs to be impeccable and to show as impressively as possible both online and in person.  This is one of the reasons you hire a good realtor.  Let’s make your home shine and then watch the showing requests come piling in!

 As always, if you’re thinking of buying or selling and you’d like better advice on how to do so successfully, please let me know!

Open House

Just one open house this weekend, but it’s a doozy!  Hop in the car, head west and drop by this lake-front beauty!

Sunday, February 4^th, 12 – 2pm

2561 Wexford Lane, Mound, MN
$1,079,000  3 bedrooms, 3 bathrooms, 2 car attached garage, 2699 square feet, built in 1993
More info here:  https://bit.ly/3UpXfe8
Here’s your chance to enjoy panoramic sunsets on Lake Minnetonka!  Updates galore, loads of ambient light, on a quiet street in a prime Mound location. 
If you’re looking to get started living the lake life, this is your chance to see what that might look like.

Missed My Previous Open Houses?

Here’s what’s still on the market!

14140 56^th Avenue N, Plymouth, MN
$599,000  2 bedrooms, 2 bathrooms, 2 car attached garage, 1953 finished square feet
More info here:  https://bit.ly/3Um3nEt

1613 W Franklin Ave, Minneapolis, MN
$1,100,000   4 bedroom, 5 bathrooms, 2 car detached garage,  5222 square feet
More info here:  https://bit.ly/3O9EGag

6212 Chowen Ave S, Edina, MN
$749,900  4 bedrooms, 4 bathrooms, 2 car attached garage, 2656 square feet
More info here:  https://bit.ly/47RA8fL

15011 Juniper Ridge Drive NW, Ramsey, MN
$657,777  5 bedrooms, 4 bathrooms, 3 car attached garage, 4315 square feet
More info here:  https://bit.ly/3vIgwxn

9790 Troy Lane N, Maple Grove, MN
$769,000   5 bedrooms, 4 bathrooms, 3 car attached garage, 4950 square feet
More info here:  https://bit.ly/3vB3AJy

3495 Livingston Avenue, Orono, MN
$399,000   3 bedrooms, 2 bathrooms, 2 car detached garage, 1280 square feet
More info:  https://bit.ly/41WvcVo

5625 Hansen Road, Edina, MN
$449,900   4 bedrooms, 3 bathrooms, 1 car attached garage, 1998 square feet
More info:  https://bit.ly/3TRk3mL

5917 Morgan Ave S, Minneapolis, MN
$379,900   3 bedrooms, 2 bathrooms, 2 car detached garage, 1563 square feet
More info:  https://bit.ly/42gOHsb

5616 Colfax Avenue S, Minneapolis, MN
$799,000   4 bedrooms, 3 bathrooms, 2 car detached garage, 3015 square feet
More info:  https://bit.ly/47wGuln

1921 Emerson Avenue S, Minneapolis, MN
$474,900   3 bedrooms, 3 bathrooms, 1 car attached garage, 1694 square feet
More info:  https://bit.ly/45zvMJ7

Finally

If you’re planning to sell your home or buy a home this year, there’s work to do if you’re going to succeed.  When you’re ready to talk to an expert, send me an email or give me a call.  Let’s talk!