Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 10, 2017

Three Reasons Why Buying a Home in the Winter is a Smart Move

 

Three Reasons Why Buying a Home in the Winter is a Smart Move

Winter is Buyer’s Market

Why? Because there is less competition and fewer house-shoppers. The colder months present a great opportunity to snag an incredible deal.  Asking prices are typically lower and you’ll face fewer buyers offering competing bids. Even a small difference in price can mean significant savings in the long term. For example, let’s say you’re buying a house with 6 percent closing cost and a 30-year mortgage with a 3.25 percent interest rate. If your house costs $500,000 compared to $550,000, the total cost of your mortgage will decrease by over $80,000. You’ll reap the benefits of buying low for decades to come.

Snag Awesome Deals

Buying during the holiday season may be a bit hectic, but the payoff will be more than worth it. Real estate is a “supply and demand” industry, which means good deals can be found when no one else is looking. Therefore, some of the best deals happen during the coldest months of the winter, especially around the holidays.  While people are busy shopping for presents and entertaining you could be landing a pretty awesome gift for yourself! Another good point is that if you are looking to buy a bank foreclosure, many banks are eager to get the loans off the books before the close of the year, which means better deals can be found because of bankers increased motivation to sell.

Prime Time for Staging your Home

Although the holiday season can seem like a crazy time to show and sell your house, there are distinct advantages to staging and showing your home at this this magical time of year. Your holiday décor will give your home an added warmth style. The holiday season may be the best time to show your home as chances are it looks its very best, adorned with warmth and cheer that’s sure to cast an inviting and positive vibe.

 

With these compelling reasons why wait to buy a home in 2018 when now is a perfect time. Give Team Boo a call and we will be happy to help! 651-231-3111.

Posted in Winter Tips
Sept. 16, 2017

Baby Boomers Seek Detached Town Homes

Baby boomers make up a substantial portion of today’s population. Because of a change in lifestyle they are downsizing and seeking detached town homes and villas as their number one choice of dwelling and a more modern and convenient way of life.

Baby Boomers contribution to the housing market is significant which is why builders and real estate agents need to cater to their needs. By gaining a better understanding of what this generation wants in a home, home builders and real estate agents can ensure a better future for the housing market. The older demographic makes up for a majority of today’s existing home equity. When members of this generation decide to downsize and change their housing structure meeting their needs is crucial, as this key demographic represents much of today’s home buying power.

2016 NAHB Study
According to the NAHB survey, 63% of baby boomers looking for a new home want to invest in a detached single-family residence. In addition, 65% of all buyers are interested in this type of property.
Members of the boomer generation also prefer single-story homes: Where 64% of all buyers expressed they would rather invest in this type of house, 75% of boomers indicated a single-story option is their preference when they are looking for a new house. In addition, 58% of boomers indicated wanting a full or partial basement.

Other generations that also seek out single-story homes and their respective percentages include:
Generation X-ers (67%)
Seniors (88%)
Millennials (35%)

Baby boomers have such a large influence on the performance of the housing market, which is why home builders are constructing homes that represent what they want in their living space.

 

Source:
https://www.nahb.org/en/news-and-publications/press-releases/2016/02/nahb-study-reveals-the-housing-preferences-of-                                                                  the-boomer-generation.aspx

Posted in Trends
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates
June 5, 2017

Five Affordable Ways to add Curb Appeal to your Home

A splash of Exterior Paint! Paint the Front Door, Trim or Shutters

Exterior paint is inexpensive but it can have a big design impact. Painting your home can definitely add some brightness and revive the appearance.  Pick a color that makes your house stand out, but make sure to compliment the rest of the colors on your house. White and light neutral colors are always a great choice!

Upgrade Your Mailbox

Whether you have a regular mailbox by the road or a box mounted to your house, adding a new mailbox can add curb appeal. You can find a new mailbox for approximately $25.Choose a color that compliments or matches your exterior paint.  Adding some fresh flowers or ferns will give it a more welcoming and summery feel.

 

Plant a Tree

Planting a tree can be a fun family project and one that will surely add curb appeal to your house. Before you plant a tree, consider how big the tree will get and how it will affect your house. If you have enough space, plant two trees to frame your house for a more symmetrical appearance.

Install new house numbers and Old Hardware

If they’re out of date or dingy, your home may not be conveying the aesthetic appeal you want it to. These elements add the most appeal when they function collectively, rather than as mix-and-match pieces. Try to match your new house numbers with the finish that is on your exterior light fixtures.

 

Install Flower Boxes

To compliment your exterior paint color, try adding flower boxes. Install them on the front porch railings as well as below the windows. Window boxes are relatively inexpensive but they have a big impact but remember you have to maintain the flowers to actually add curb appeal. If you rather not add flower boxes to your house, then consider buying some container gardens in pots and placing them on your front steps or porch.

 

With these five affordable ways to create curb appeal people will slow down to take notice and the improvements will likely be much appreciated

Posted in Trends
May 17, 2017

Team Boo Voted Best Real Estate Team

We at Team Boo would like to thank you for voting us the Best Real Estate Team! It is an honor to be recognized and chosen by the people! Being presented with the Readers’ Choice Award for the “Best Real Estate Team” means we have achieved our mission and earned your trust.

What “Best Real Estate Team” means to Team Boo:

We believe being named ‘best realtors’ can be translated to having experience in the real estate business. We also believe it means having a successful track record. We have proudly handled thousands of real estate transactions for over 30 years, assisting clients with their home buying and selling needs. We spend a great deal of time learning about our customer’s needs and what is most important to them. Our hope is our customers will continue to use us as a resource for years to come.

Why our Reputation is our Best Asset:

In today’s real estate market, it is more important than ever to work with a reputable and experienced realtor. It is our business to know the market and the market trends.

At Team Boo, we understand having an experienced realtor by your side can make the difference between securing or losing the home of your dreams.  This is why we act as a real estate advocate for our clients, helping guide them through every step of the process. Our objective is to live up to the title of ‘best realtors’ and to provide the best real estate experience possible in today’s complex and ever changing market.

Thank you again for your vote of Best Real Estate Team. Our reputation is our most valuable asset and it is the support of the people in the community that makes the difference. We could not have earned this award without your trust in us and we thank you for that.

Team Boo High Pointe Realty is a licensed and experienced real estate team, with agents serving the greater Minnesota and Wisconsin region; concentrating on St. Paul, the greater Twin Cities and the St. Croix River Valley areas.

Posted in Team Boo
March 3, 2017

Team Boo the Exclusive Real Estate Team for Royal Golf Club

Team Boo/High Pointe Realty is excited to announce that they are the Exclusive Real Estate Team for Royal Golf Club. Located in Lake Elmo, Royal Golf Club is one of Twin Cities finest world class golf course developments. What is truly unique about this property is that the legendary late Arnold Palmer (Golf King) and Annika Sorenstam (Golf Queen) teamed up to transform the treasured Tartan Park into a World Class Championship Golf Course, which is known and respected as the 3M legacy.

Royal Golf Club-Dream Living

Approximately 300 gorgeous surrounding home sites (lots) including detached stand-alone villas and single family homes are now being developed. Check our website for more specifics including photos of the development in progress.

The Vision and History 

Golf legends Arnold Palmer and Annika Sorenstam collaborated on the Royal Golf Club in Lake Elmo, Minnesota. The front nine was designed by Annika will be the Queen nine.  The back nine was designed by Arnold will be the King nine, perfect synergy.

In addition, the RGC will also have a Short Course, designed with families and beginners of all ages in mind.

About The Course

The Royal Golf Club’s 18-hole course has been designed specifically to appeal to golfers of all abilities. Whether the members of your regular foursome are beginners or seasoned veterans, the Club’s five tee boxes will provide for a challenging yet fair test of golf. The bent grass fairways all have generous landing areas and the greens will be maintained as some of the finest putting surfaces in the Twin Cities. Royal Golf Club – Opening Summer 2017!

For more information on the Royal Golf Club Development contact Team Boo/High Pointe Realty at 651-231-3111 or visit www.teamboo.com for more specifics about this breath taking, one of a kind property!

Posted in Team Boo
Feb. 17, 2017

Why Choosing an Experienced Realtor Matters

Having an experienced realtor can make the difference between securing or losing the home of your dreams.

In today’s real estate market of multiple offers, low inventory and rising interest rates it is more important than ever to contract with an experienced realtor. An experienced realtor knows their market and their business.

The Amount of Time an Agent has spent in the Business Matters

When choosing a real estate agent ask if they are a full time agent and how long they have been in the business.  You will need their years of experience and confidence as they guide you through the buying and/or selling process. Their experience, trustworthiness, professionalism and hard work equates to peace of mind for you.

Real Time Listings can Make a Difference in Finding the Home of your Dreams

An experienced Real estate agent can get the most “real time” property listings, comparisons, and benchmarks.  There are many resources to use to search for homes.  The most up-to-date and reliable data is always going to come from the MLS or directly from the broker. With so many options available for your home search publicly online it can be a bit overwhelming, that is when an experienced real estate agent can make a big difference.  He or she is going to be able to keep you updated to-the-minute on the status of properties thorough the process.  They will also conduct an accurate assessment of the market in real time.

An Agent with more Real Estate Knowledge and Wisdom Means Better Service for you

An experienced realtor will be your best resource for information on how long a home has been on the market, if it’s been listed more than once, how it compares to neighboring properties, and any insights from previous inspections.

An experienced real estate agent brings years of knowledge and wisdom. They will know how to structure and negotiate your purchase/sale to your benefit, work through financial approvals, inspection objections, appraisal issues and title challenges.

Experienced Realtors have years of networking with others in the industry and this will provide better service for you.

Expect nothing less….An Experienced Realtor is invaluable and highly sought after.

Posted in Realty
Jan. 20, 2017

Now is the Optimal Time to List your Home

Weather experts are predicting that this may be the longest January thaw in 25 years! With the literal snow meltdown, spring fever is contagious! Now that the temps are on the rise, it is a perfect time to jump start the process of selling your home.

Now is the optimal time to list your home.

Why is now a great time to list your home? With a lower supply, sellers can get m money for their home. The inventory of homes for sale will always have a bearing on how the real estate market is fairing. If you list now before the spring rush you will stand to make more on the sale of your home as you run into more of a chance of a bidding war.

Also bright sunshine helps to bring more motivated buyers. Let’s face it weather is a factor in so many things we do especially when it comes to purchase decisions.  People are much more likely to get out and do some serious house hunting while we know the forecast is favorable. Sunshine and warmer temps bring mobility. Not to mention the sunshine elevates our moods, which studies show may motivate people to make more financial moves.

Spring offers the best time of year to showcase your home. After a long winter, certain sights and sounds can trigger the “moving bug” in many people.  Homes appear more appealing when the weather is warming up and buyers tend to be in high spirits.

Most families want to make list their home and complete the transaction long before the summer months, when the kids are out of school and family vacations are in the works– who wants to be loading a moving truck in the middle of July?

So if you are thinking of selling your home, why wait? Don’t let the calendar dictate the season.  Spring has sprung! Now is the optimal time to list your home. To find out more about what you need to do to get your home on the market give Team Boo a call at 651-231-3111! They can help you find your way home at the optimal time!

Posted in Team Boo
Nov. 11, 2016

Four Ways to Winterize Your Home

We all know its coming. Soon the weather is going to change and the snow is going to fly. Be sure you are ready for it with these four ways to winterize your home.

Put storm windows on your house

Use a heat gun to find air leaks and make sure they’re sealed properly. It’s also important to install and close the windows tightly.
While pulling out, cleaning, and sealing your storm windows may not be the most enjoyable past time, you will save money and enjoy both fuller pockets and a warmer home.

Seal the cracks. Seal the heat

Minnesota winters can get very cold which mean heating costs can be very high if your house isn’t sealed properly. Don’t just seal around window panes but also seal window frames. Be sure not to neglect to seal doors, fireplaces and around electrical outlets. From attics to basements (and attached garages) anyplace heat can get out, seal the spot with caulk or silicone. You could save between 5%-30% on energy costs each year by sealing in heat, and your home will be more comfortable.

Protect Your Pipes

Use inexpensive pipe sleeves (from your local hardware store) to insulate both hot and cold water pipes running through unheated areas of the house. This will help keep your water temperature regulated, and prevent your pipes from freezing during the winter. It may also allow you to lower your water heater temperature during the winter months, which will save money on your energy bills.

Add Energy Efficient Financing 

You can add energy-efficient financing to many purchase or refinance home loans Energy-Efficient Mortgages. EEM’s are options that can be added to VA, FHA, USDA, Fannie Mae and Freddie Mac refinance home loans.
Energy improvements can involve a wide variety of projects. For example, adding insulation, upgrading to energy-efficient windows, and installing water saving devices are good examples.  Rules differ by program, but all of them will give you the ability to use the improved property value in the loan-to-value calculation.

With these four ways to winterize your home you will be more comfortable and perhaps you can save for that winter vacation in a much warmer climate.

For more information please call Team Boo at 651-231-3111.

Posted in Winter Tips
Oct. 25, 2016

TEAM BOO takes the SCARE out of PREPARING your HOME for the MARKET

So you decided to sell your home. What’s next? TEAM BOO can help you take the scare out of preparing your home for the market with these tips:

Check the Curb Appeal

    • CURB APPEAL – You know what they say about first impressions – you only get one!  Make your home look inviting from the street!  Clear the sidewalks and have the leaves raked and the lawn freshly mowed.  If you have faded window trim give it a paint job.  Plant yellow flowers or group flower pots together.  We at Team Boo, believe that yellow evokes a buying emotion.  (There is actually research to back this.)

 

    • DE-CLUTTER! – There’s nothing scarier than a house  full of clutter. Pack up those knickknacks and clean off everything on kitchen counters. Stay organized throughout the process. Put essential items you use daily in a box that can be stored in a closet. Be sure to clean everything out of the mud room. Just think of this process as a head-start on the packing you will eventually need to do anyway.

 

    • SET THE MOOD, LET THERE BE LIGHT! – Change out your bright white light bulbs and choose soft and flattering wattage that invokes a cozy, yet welcoming feel. They will also hide any little imperfections. Softer lighting helps people feel at ease and give your home a more welcoming glow. To allow natural light in be sure to wash your windows. Clean windows will let in more light and make your rooms sparkle — and buyers will definitely notice if it isn’t done.

 

    • KEEP IT CLEAN WITH COLOR – Another simple tip to prepare your home for the market is to give your home some fresh paint.  Fresh paint will give the appearance of newness and cleanliness. Go for lighter colors. If you have a trendy lime green room you will want to change it up to something more neutral. Paint two adjacent rooms the same color to give the appearance of an open floor plan.

 

    • DEODORIZE-KEEP IT FRESH – We often underestimate the sense of smell, which is a very powerful sense. People associate smell with experiences-good or bad. It has been proven that aromas impact our emotions, so keep it fresh by opening up the windows a couple of hours a day. Baking soda is a great natural deodorizer and it can do wonders for the carpets. Vinegar is also a great natural choice and a very effective cleaner.

 

When you are preparing your home for the market just remember the four “D’s”, deep clean, depersonalize, de-clutter, and deodorize. For more information on how Team Boo can help you take the scare out of preparing your home for the market give us a call at 651-231-3111 or visit us at teamboo.com

Posted in Trends