Why Sell With Us?
The Minnesota Property Group of RE/MAX Results represents home buyers and home sellers throughout the entire Twin Cities Area of Minnesota. Joe Houghton is the team listing specialist and is an authority on home marketing, home staging, seller representation and real estate negotiations. Joe is highly respected amongst his pears and works on a referral only basis.
The Minnesota Property Group represents the region’s finest properties with exceptional skill using the most innovative technologies currently available. The MN Property Group offers ultimate privacy and security, speed, and efficiency. Their combined 33 years of full-time experience have given them a clear understanding of the mindset of home buyers and sellers and a thorough understanding of the regional marketplace. No one knows the Twin Cities Metro as well as the Real Estate professionals of the Minnesota Property Group.
Selling A Home In Minneapolis and St. Paul
We’re experts when it comes to the Twin Cities real estate market
It has always been our firm belief that we can best serve our clients with in-depth knowledge of a small market vs. a little knowledge of a wide area. Minneapolis and St. Paul is a unique and diverse community. Each neighborhood has its own character. Each neighborhood appeals to a different buyer. To obtain the highest possible sales price for your home, the marketing must reach the right buyers with the right message. We have the network and experience to do this.
We have the talent to showcase your home
The old adage, “You can’t judge a book by its cover” is passé today. This is a fast-paced, image-oriented society in which we live. First impressions really do count! Every piece of information on your property, whether it be a brochure, the wording in the Multiple Listing Service, a presence on the Internet, or a well-placed advertisement, must show your home in the best possible light.
How to Determine the Value of Your Home
At any given time, buyers and sellers in the Twin Cities can find themselves motivated and willing to buy or sell their home accordingly. It is important to know that just because one home sold for certain price, the same house next door is not necessarily worth the same. It comes down to a few factors: motivation, condition, quality, size, staging, marketing, positioning, storytelling, and of course supply and demand. I like to think there is also a luck/karma factor, but that is tricky to measure.
There’s a few common mistakes people tend to make when selling their home,
Home sellers usually start by going to the web. They google their address. The search results that populate first are from websites like zillow.com, trulia.com, homes.com, realtor.com, findmnhomevalues.com etc. The problem with these websites is that they are easily manipulated and largely based on the information that the algorithm is pulling from the tax records. The perception by consumers is that the tax information is correct and that the assessed value that the homes property taxes are based off of is accurate. This could not be further from the truth. My point is this. Do not be manipulated by the internet when it comes to the value of your home.
Home owners ask complete strangers to provide them with a comprehensive market analysis of their home. The problem with doing this is that most agents spend very little time actually analyzing your property and the comparable properties. The main objective of most agents is to tell you what you want to hear. Their goal is to convince you that they can sell your property for more than anyone else can.
Home owners believe an appraisal determines the true value of their home. The truth is that appraisers are usually not real estate agents. Appraisers are hired by banks after the sale has occurred to determine the amount of money the bank is willing to base their loan numbers off of.
To determine the true value of your home you need to get appropriate advice from the most respected and trustworthy real estate agent in your area. The most honest and ethical realtor will give you a price range that they believe the home will sell. Good agents are hesitant to commit to a suggested listing price. We know sellers are drawn to the optimistic Realtors, the ones that lead you to believe they will make you more money.
Escrow and Closing Costs
When you buy a home in Minnesota some of the expenses involved are the closing costs. Closing costs for buyers can include appraisal fees, credit report fees, loan origination fees, loan discount points, title insurance fees, lender insurance fees, PMI insurance, Pre-paid interest, escrow accounts, mortgage recording fees, and a real estate administrative fee. The closings costs typically range from between 2-4% of the purchase price, but there are several factors that influence this. Some buyers will ask the sellers to pay for their closing costs. A lot of sellers will agree to pay up to 3% of the purchase price towards the buyer’s closing costs. The key thing for a buyer to understand is that by asking the sellers to pay their closing costs they are actually increasing the purchase price and their mortgage amount. If a seller gets an offer for $400,000 and agrees to pay $10,000 towards the buyers closing costs it is essentially the same thing to them if they were to get an offer for $390,000 without agreeing to pay a portion of the buyers closing costs.
Seller closing costs are always paid by the seller and are taken out of the proceeds from the sale. The realtor fees and brokerage commission is the largest of the fees, but aren’t usually referred to as closing costs. Then there is the state deed tax, the mortgage recording fee, the settlement fee, the abstract or Title search, the lot location report, special assessment search, and the name search. For homes near the average sale price in the Twin Cities, the seller’s closing costs tend to be around .5% of the purchase price.