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.​

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®.

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/

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: