Zeb Haney Minneapolis Realtor Blog » Uncategorized

August 2010 Minneapolis Area Association of Realtors Housing Market Update – ‘The Skinny’

Zeb Haney — Tue, 24 Aug 2010 22:59:09 +0000

Select a Good Agent – Real Estate Agent Red-Flags

Zeb Haney — Tue, 24 Aug 2010 00:12:43 +0000

In this article posted at the Minnesota Department of Commerce, you’ll find some of the basic red-flags to watch out for, when working with a Realtor. Not all Realtors develop equally. Here are some good tips. Chief among them are agents not disclosing which party of the transaction they primarily represent. Also, in my opinion another important one, is communication. Please click here to view this information.

New Listing $349,900 – Southwest Minneapolis’ Fulton Neighborhood – 5046 Chowen Avenue South

Zeb Haney — Fri, 20 Aug 2010 15:56:03 +0000

This home is for sale for $349,900. It is a 3+ bedroom, 2+ bath and has a 2+ car garage, with over 1,545 finished square feet of living area. The lower level has additional space to finish out, which can help to add another 200-300 finished square footage. This home is in great condition, and offers many nice updates, including a newer roof, furnace, central ac, windows, gutters and downspouts, and more. The large back patio is 13×23 feet and features stamped concrete. The lot is a beautifully landscaped lot. Chowen Avenue is one of the premier street near the Edina 50th & France neighborhood, but also near Lake Harriet. The Fulton neighborhood in general is one of Southwest Minneapolis’ premier neighborhoods, and is also one of the few neighborhoods that has held its value quite well over the past few years.

Please click here to view more information on this home and to see additional photos.
To take the video tour, please click here: 5046 Chowen Avenue South Minneapolis

May 2010 Monthly Minneapolis Real Estate Market Update Per MAAR

Zeb Haney — Thu, 20 May 2010 12:30:33 +0000

Return of the Multiple Offer Scenario up to $500,000 + Southwest Minneapolis Real Estate

Zeb Haney — Fri, 23 Apr 2010 02:43:07 +0000

Since February of this year, I’ve been involved in 12 scenarios where my buyers were up against multiple offers. I have been finding this to be happening the most, at the price point of $300,000 – $465,000 in the Southwest Minneapolis and Minneapolis Lakes area single family homes. One set of buyers was in 3 separate multiple offer situations on 3 separate homes in Southwest Minneapolis, when we put their offer in on homes in the mid $400’s price range. Amazing. I was not surprised, as the homes were great, close to Lake Harriet, and priced within the range they should have been.

I’ve been hearing this same buzz from other agents around the 50th & France office, and some of my friends that are agents with other brokerages. I’ve also been involved in multiple offer scenarios this year in West Bloomington and Nokomis, in the mid and upper $300’s price range.

The difficulty is: I can usually tell when a home is new on the market, priced right and thus stands a very good chance of selling quickly. However, the difficulty is that when buyers have been hearing for 3 years straight that it is their show (and in some cases it still is), they often have a hard time believing this…until they lose the first home they really like…and the second…and so on.

Of course, not all homes are selling this quickly, as there are many homes on the market, but many are in mediocre condition, but still having premium pricing. But when a good home comes on at the right price, you can feel it right away…and so can the other 127 buyers who have just seen it online.

The home usually goes to those who move the fastest and give a good solid price.

The rule: if you see a great home on the market, at a good or fair price, in a good neighborhood, don’t try to ’steal it’…as you’ll probably end up losing it. Then you’ll spend the next 2-3 months trying to find that home again, always saying ‘I should have…’

Since February of this year, I’ve been involved in 11 scenarios where my buyers were up against multiple offers. I have been finding this to be happening the most at the price point of $300,000 – $465,000 in the Southwest Minneapolis and the Minneapolis Lakes Area, with single family homes. One set of buyers was in 3 separate multiple offer situations on 3 separate homes in Southwest Minneapolis, when we put their offer in on homes in the mid $400’s price range. They did get the 4th home they put an offer on, and that one also received multiple offers. Amazing.
I was not surprised, as the homes were great, close to Lake Harriet, and all were priced within the range they should have been. All of these homes sold for full list, or over full list price.

The difficulty is: I can usually tell when a home is new on the market, priced right and thus stands a very good chance of selling quickly. However, the difficulty is that when buyers have been hearing for 3 years straight that it is their show (and in some cases it still is), they often have a hard time believing that some homes sell immediately, and often for full or over full list price…until they lose the first home they really like…and the second…and so on.

The home usually goes to those who move the fastest and give a good solid price.

The lesson for buyers: If you see a great home on the market, at a good or fair price, in a good neighborhood, don’t try to ’steal it’…as you’ll probably end up losing it. Then you’ll spend the next 2-3 months trying to find that home again, always saying ‘I should have…’

The lesson for sellers: pricing is the key. Really.

Linden Hills Southwest Minneapolis Bungalow, Just Listed & Just Sold in 5 Days

Zeb Haney — Sat, 03 Apr 2010 14:11:05 +0000

Offered at $489,900, this Outstanding craftsman-Bungalow restoration at 4545 York Avenue South, sits right in the heart of the Linden Hills neighborhood of Minneapolis. It’s 4.5 blocks from Lake Harriet, 2 blocks from Linden Hills Park, 4 blocks from the Linden Hills downtown, and only about 8 blocks from the 50th & France neighborhood.

I listed this one last Thursday, and we had showings around the clock. The couple who stepped forward and bought this home from my client, picked up one pretty-penny. This home is certainly one of my favorite listings in terms of location, style and quality.

Trehus builders completed this renovation in 2002, while consulting with the American Bungalow society throughout the entire process. All of the details are from the original era, even down to the paint-colors. However, what makes this home different are a few items: updated mechanically and electrically, a front porch as well as a 3-season, screened-in porch off the back, a full-sized 2-stall garage, an integrated stereo system throughout the entire home (with individual room controls) and a high-end movie theater in the lower-level.

The master-suite is a one of a kind, with a dedicated master bathroom, as well as a large, walk-in closet.

For more information, photos and a video tour, please click here: http://zebhaney.edinarealty.com/MN/Minneapolis/55410/homes-for-sale/4545-York-Avenue-S-48113644

New Listing: Home for Sale at 19298 Evening Star Way, Farmington, MN 55024

Zeb Haney — Sat, 27 Feb 2010 14:05:15 +0000

Just listed: This wonderful, 4 bedroom, 3 bath, 3-stall (heated) garage is listed in Farmington. This home is priced competitively at $219,900. It is a corner lot, with very nice views of the community pond and fir-trees from the back deck. 19298 Evening star way has a nice open floor-plan, vaulted ceilings on the main floor, a 3-point (optimal design) kitchen with a center island, a walkout deck and a nice contemporary, exterior design with low-maintenance siding. To view the full property description, see additional photos and take the video tour, click here.

This home is turn-key and ready to go.

Minneapolis Spring Housing Market 2010

Zeb Haney — Mon, 11 Jan 2010 23:58:40 +0000

The 2010 spring housing market is officially off to the races. Many buyers held off on buying last fall, due to the tax credit extension. Now they are rearing to go. How do I know this? – from my own buyers, and also hearing many other Realtors commenting on this same thing from their buyers, which leads to point #2: Many sellers are now going on the market earlier than they normally would.

The housing market in the Minneapolis metro area is somewhat cyclical, with the majority of listings going on the market in the spring, and a small bump again in the latter summer/early fall. Typically our market starts to heat up right after the Super Bowl (cabin fever?). Many of the listings go on the market in March, April and May.

This year, many agents are suggesting to their clients to go on the market in January, and February. There are many buyers out there, locked and loaded…pre-approved. Also, due to the tax credit expiration (must write your offer by April 30th, and close by June 30th), this has put the heat on the market.

Minneapolis Housing Market Update, Tax Credit Extension & $6,500 2nd-time Homebuyer Info

Zeb Haney — Wed, 18 Nov 2009 19:54:56 +0000

Breakdown of Energy Sources for State of Minnesota: Coal and Nuclear Dominate

Zeb Haney — Wed, 18 Nov 2009 11:02:44 +0000

Surprisingly enough, coal supplies about 60% of Minnesota’s energy. After coal, the second largest source for energy in Minnesota is nuclear energy, which supplies about 25% of our energy in Minnesota. Click here to see the statistics.

Minnesota ranks as #17 nationwide, based on cost of energy.