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DAVE'S HOME TIPS BLOG

Senior Housing Optinos Seminar - May 7

5/5/2022

 
On Saturday morning, May 7, I'll be presenting a seminar about housing options for seniors.
CLICK HERE for more information. If you, or someone you know could benefit from this, please forward the link.
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Home Tips Newsletter - May 5, 2022

5/5/2022

 
Homebuyers: You May Have More Options
Homebuyers: You May Have More Options
More sellers are expected to list their houses in the months ahead. Let's connect so you have a trusted real estate advisor on your side and can act when your dream home comes to market.
Watch the Video
Today’s Home Price Appreciation Is Great News for Existing Homeowners
Today’s Home Price Appreciation Is Great News for Existing Homeowners
If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand.
Read the Full Post
Three Tips for First-Time Homebuyers
Three Tips for First-Time Homebuyers
Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you're looking to purchase your first home, you may be wondering what's happening in the housing market today, how much you need to save, and where to start.
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Your House Could Be Closer to List-Ready Than You Think
Your House Could Be Closer to List-Ready Than You Think
One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A survey of recent sellers from realtor.com finds that many were able to get their house ready in less than a month. It says:
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David Burkum
Anderson Realty
Twin Cities Region, Minnesota
(651) 592-2898
david-b-realty.com

SPRING HOME MAINTENANCE CHECKLIST

4/8/2022

 
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by Minnesota Realtors Association
​
Spring is the season of new growth. After a long, icy winter, there’s nothing quite like the warmth of the springtime sun. Here in Minnesota, we sometimes find it hard to predict exactly when spring will kick into full gear (think blizzards in April), but when it does arrive, we welcome it with open arms. 

Spring is also when we prepare our yards for gardening and outside entertainment, perform quarterly maintenance, and freshen up the inside of our homes.

This list might look exhaustive (and exhausting), but not all the items will apply to every home.

Quarterly maintenance
  • Change or clean your furnace filters, depending on the recommended frequency.
  • Clean or replace filters on any other mechanicals or appliances that have them, such as dehumidifiers, A/C units, or range hoods.
  • Test all smoke and carbon monoxide detectors. Change the batteries according to the manufacturer’s specs.
  • Turn over or rotate mattresses.
Freshen the interior
  • Open those windows and air out the house.
  • Remove storm windows, if you have them, and install screens after hosing or wiping them down.
  • Wipe down the blades of ceiling fans.
  • Close the fireplace damper.
  • Get rugs or carpet cleaned if necessary. Consider having the sofa steam cleaned.
  • Wash or replace pillows (most are only meant to last for one to three years).
  • Replace warm-weather bedding with lighter coverlets.
  • Have the air ducts cleaned (if needed).
The basement
  • Check carefully for any signs of water intrusion that can occur from snow melt.
  • Make sure the sump pump is working (if you have one).
  • Pull your dehumidifiers out of storage, if you use them, and clean out the tank.
  • Turn on the exterior water faucets. 
Get the exterior in gear
  • Attach your garden hoses.
  • Pressure-wash the patio and deck, and hose down outdoor furniture (pressure washers can be rented from most hardware stores).
  • Hose down the siding, inspecting for damage as you do.
  • Pressure-wash the driveway.
  • Have the gutters professionally cleaned.
  • Wash the window exteriors.
  • Sweep out the garage.
  • Detail the grill and check to see if it is working properly.
Get ready for gardening
  • Rake the lawn, aerate it, and overseed it as necessary
  • Try not to rake up wet leaves until the temperatures have exceeded 50 degrees for at least seven consecutive days. Worms, insects, and new plant shoots need the leaf cover until it gets warmer. When you do rake them up, consider using the leaves as mulch.
  • Clean outdoor ponds and fountains before filling them with water.
  • Hang hummingbird feeders—spring is when they begin to appear.
  • Shop for soil and mulch.
  • Sharpen gardening tools and test the lawnmower.
  • Plant your cool season veggies, such as onions, beets, lettuce, spinach, and carrots.
  • Plant rose roots.
  • Prune grape vines.
  • Fertilize any woody ornamental shrubs.

Phew! Once all this hard work is done, your final task is to pull out a lawn chair, settle in with a tall glass of iced tea, and soak in all the fresh spring air that you can.​

EXPECTATIONS FOR THE SPRING HOUSING MARKET

3/24/2022

 
What You Can Expect from the Spring Housing Market
What You Can Expect from the Spring Housing Market
As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune.
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HOUSE CLEANING: GETTING THINGS READY FOR SHOWINGS

3/24/2022

 
In this little video, Brianna K does a great job demonstrating final house cleaning tips to be sure your home shines for showings. Too big of a job for you at the moment? Need help with lining up a cleaning service? I can help you with that. If you are thinking of buying or selling a home, or both, please contact me. I'd love to be your REALTOR®.

DOES A SELLER'S MARKET MEAN IT'S EASY TO SELL YOUR HOME?

3/21/2022

 
This insightful video was shared recently by Mike Smith, my broker and colleague. It's one thing to sell your home, it's another to successfully sell it for top value. Now is a very good time to be selling your home. I hope you will connect with me so we can discuss how to get you the BEST possible results. 
CONTACT ME

RETIREMENT MAY BE CHANGING WHAT YOU NEED IN A HOME

3/19/2022

 
Retirement May Be Changing What You Need in a Home
Retirement May Be Changing What You Need in a Home
The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom:
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Thinking of selling?

Download my free eGuide covering the things to consider when selling your house.

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Thinking of buying?

Download my free eGuide covering the things to consider when buying a home.

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KEY FACTORS IMPACTING HOME AFFORDABILITY

3/9/2022

 
Key Factors That Impact Affordability Today
Key Factors That Impact Affordability Today
You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable.
Read the Full Post

Thinking of selling?

Download my free eGuide covering the things to consider when selling your house.

Download Now

Thinking of buying?

Download my free eGuide covering the things to consider when buying a home.

Download Now

HOME OWNERSHIP GROWS YOUR FINANCIAL EQUITY

2/26/2022

 
FROM MASHVISOR BLOG:
House values in the Minneapolis metro area have risen by 13.6% in the last year alone. However, for investing in real estate, since there is a limited amount of homes in Minneapolis, purchasers are sometimes compelled to compete, leading to higher prices and faster sales, which benefit sellers. In other words, based on the previous month’s major housing market statistics, demand outnumbers supply, providing sellers a price bargaining edge over buyers. As a result, there are fewer available properties than engaged buyers in the market.

  • The average home value in the Minneapolis-St. Paul-Bloomington Metro area is $349,595, a 13.6% increase over the previous year.
  • According to Zillow, they will grow 11.4% in 2022.
  • Minneapolis home values have increased by 6.5% (current value = $321,732) and will still rise.
  • Home values in Saint Paul have increased 10.7% (current = $275,264) and will still rise.

VIDEO DATA SOURCE:
https://www.corelogic.com/intelligence/homeowner-equity-insights/

The #1 Reason To Sell Your House Today

2/24/2022

 
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Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply.

Purchaser demand is very strong right now. The National Association of Realtors (NAR) just released their latest Existing Home Sales Report which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge.

Inventory Is at an All-Time Low
Because purchaser demand is so high, the market is running out of available homes for sale. The above-mentioned report states that the current months’ supply of inventory of homes for sale has fallen to 1.6 months. This prompts Lawrence Yun, Chief Economist at NAR, to say: “The inventory of homes on the market remains woefully depleted, and in fact is currently at an all-time low.”

​Earlier this month, realtor.com released their inventory data for January. It helps confirm this point. Here’s a graph comparing inventory levels for January over the last six years:
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As the graph shows, new listings coming on the market have decreased over the last four years (shown in blue in the graph). The graph also reveals that carry-over inventory has plummeted in recent years. This is because listings are now sold so quickly, they don’t stay on the market long enough to carry over month-to-month (shown in green in the graph). In other words, homes are not staying on the market for months as they had prior to the pandemic. In the report mentioned above, NAR reveals that: “Seventy-nine percent of homes sold in January 2022 were on the market for less than a month.”

Odeta Kushi, Deputy Chief Economist at First American, explains it like this:
“A higher velocity of sales (lower [Days on Market]) helps to explain a housing market characterized by both higher sales & lower inventory. Many resale transactions are happening so quickly that they ‘flow’ in & then out of the ‘stock’ between the fixed monthly measurement of inventory.”

What Does This Mean for Sellers?
Anyone thinking of putting their home on the market shouldn’t wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.

Later this year, inventory (and by extension, your competition) will increase as many homeowners are waiting to put their homes on the market in the spring and early summer.

In addition, Len Kiefer, Deputy Chief Economist at Freddie Mac, says:
“Housing starts start off 2022 strong, just edging out 2021 for most in January since 2006.”

As these newly built homes are completed, they will also become competition for your house. This gives you a tremendous opportunity right now. Don’t wait for that increase in competition in your area. If you want to sell in 2022 and are ready to start the process, today is the day to list your house.

Bottom Line
If you’re ready to sell, let’s connect to get your house on the market while today’s inventory situation is in your favor.
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    When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.

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  • Home
  • ABOUT ME
    • Background & Values
    • CLIENT COMMENTS
    • Why You Need a REALTOR®
    • MAY 7 - SENIOR SEMINAR
  • HOME TIPS
  • BUY & SELL
    • FOR SELLERS
    • FOR BUYERS
    • FEATURED LISTINGS
    • SEARCH FOR HOMES
    • Value of Your Home
  • CONTACT ME