Real Estate News

Found 12 blog entries about Real Estate News.

When is the Question???

 

When is the best time to put my property on the market? NOW

Should I wait until spring before putting my property on the market?  NO

Would it be wise to wait until the weather warms up before putting my property on the market?  IT WON'T BE SOLD IF IT IS NOT ON THE MARKET

The history of residential sales including lake homes in Otter Tail County, shows the following stats for the first quarter (January 31-March 31st):

YEAR          QUARTERLY SALES          TOTAL SALES FOR THE YEAR

2016                     51                                        715

2017                     62                                        768

2018                     76                                        760

2019       

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It looks to be another banner year in lake home sales as they are up 12% so far in 2017 over 2016.

The sale prices of lake homes rose 18% in 2016 to $292,000, up from $248,000 in 2015.  Those 2016 prices are continuing in 2017 as well.  That is not an indicator of increase in values but an indicator of a demand for higher price lake homes.  There are 38% more homes that have sold in the higher price field this year. To obtain a chart of the lake home price trends for the last 17 years, email miriana@century21vista.com and request the lake home sales trends.  My advice for buyers and sellers is to choose an agent which knows the market and the trends.

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LAKE HOME SALES

By Alan Olson, Broker

This month’s column gives the reader an accurate snapshot of the lake home sales thus far this year in our multiple listing services.  It also shows the months of inventory available for purchase.  September and October closings are not reflected here but the sales have been off the charts.  Interestingly, sales have been closing within 1% of the assessor’s market value, which is highly different from the low prices of other regions in Minnesota.

My advice for buyers and sellers entering the market….use a professional full time real estate agent that knows not only the past comparables but one who knows the present ones and the trends.

 

Absorption Rate Report

September 1, 2011

 

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A second consecutive monthly increase in closed home sales in Minnesota is a promising indicator that residential real estate is moving in the right direction after a number of dismal years.  Closed Sales increased 33.5 percent in July 2011 when compared with July 2010.  Almost 1,700 additional transactions were closed in July when compared to a year earlier.  In reviewing statistics throughout the state, it is clear that most areas are rebounding nicely.  In fact, home sales for the last 12 months have incrased 33.5% in Minnesota.  Low interest rates, investor purchases and improving economic conditions are sighted as the primary reasons for the significant increases.  Minnesota's employment numbers have been better than the national figures which helps

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