I’ve been to about half of the cities on the list. I like all of them (excluding one). The cities on the list are larger, small-cities that have retained much of their culture and older character, while embracing a positive approach toward developing a local and national business culture.

I know from my own buyer’s, as well as the feedback from many other agents, as well as looking at the market (agent access to MLS data, along with the large amount of showings I do), that our market is in serious need of good listings.

There are still quite a few listings on the market which have not yet sold, but this is usually a pricing, presentation and marketing issue.

The fact is, our local inventory is down, significantly, over the past year, and there are plenty of buyers locked and loaded at our great rates, waiting for the right home.

My advice to those with a good home: put it on the market this spring. If it is priced moderately well, is dialed-in (needs very little work) and it is marketed right, I firmly believe it will sell quite successfully.

Timing is not everything though. Timing is the first half. The second half is having your investment tools ready and in order; lender backing/pre-approval, cash moved into position, knowledge of the market so that when you pull the trigger, you are confident in your decision, as well as having discipline and the confidence to make a smart move. These are the basics that an opportunistic investor must have.

Also, Robert Schiller is quoted as saying that over the next 3-5 years, real estate values in the U.S. (in general) could possibly drop 10%-25%. That’s quite a broad range, and with it would be tough to lose, with a prediction like that. I think the 25% part, or anything near that is highly unlikely.

I think it is a great time to purchase homes, so long as you stick to the basic rules of smart investing/buying.

I’m as guilty as many in this day and age; I blog, I occasionally tweet, I receive upwards of 105 emails, 40 texts and 25 phone calls per day (the nature of my business), and some days feel like my brain is stuck in tech-tweaker mode.

This article should be read by all techie/gadget-geeks. Perhaps it’s high-time to dial it back a bit, eh? Do you want worse short and long-term memory, or a reduced ability to multi-task, or the inability to concentrate when spending time with your kids, family or friends? I believe many already have these problems, and they are getting worse.

A great agent has to remain competitive, communicate effectively with clients, market their homes and network effectively, and the technology advances have certainly made this all the more effective. But still, what is the cost?

This article demonstrates that there are and will continue to be negative side-effects from being constantly ‘wired-in.’

More to be revealed, the further we – as a tech-driven, information-addicted society – travel down this path.

Criteria: List price = $449K-$650K, single family homes (no condos or Town-homes), off market since 01/01/2010, does not include ‘pending sales’ (sold, but not yet closed, of which there are currently many), does not include ‘non-MLS’:

- Edina = 117 listings sold (128 including Condos and Town-homes).
- South and Southwest Minneapolis = 108 listings sold.
- Greater Lake Minnetonka Area (Wayzata, Orono, Minnetrista etc.) = 106 listings sold.
- Eden Prairie = 81 Listings sold.
- Plymouth = 80 listings sold.
- Minnetonka = 65 Listings sold
- West Bloomington = 25 listings sold.

Total listings sold, priced between $449K and $650K = 593

1) Yes, many of these homes were purchased at much higher prices in 2001-2006.
2) Yes, many other homes did not sell, and either canceled or expired.
3) Yes, many people had a brutal time selling their homes, and often times were not able to, or did not price it correctly, right out of the chute.
4) No, many people did not incorporate the extra work in finishing projects on their home, prior to listing it.
5) However, many more homes at even higher price-points had successful sales.
6) The key: many people did not take the suggested staging advice offered , and ended up kicking themselves afterward, especially when learning that many of the homes that sold successfully, were dialed-in, staged great, marketed great and priced right. Do it right the first time!

The takeaway from this: Despite a tough market, many homes do in fact sell quite successfully in the Southwestern and West Minneapolis metro area. It is certainly not all doom and gloom.
The keys to a successful sale, are in point #6, above.

For staging advice, marketing advice, pricing and comparative market analysis data, please call anytime.
I’ll be happy to help.