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Date Archives: October 2014

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October
28

We're excited to announce our expansion into Downtown Stillwater. This is the third location for RE/MAX Professionals, which also has offices in Cottage Grove and Rosemount. 

We will move into an office location at Stillwater Mills on Main Street in Stillwater, and have hired Mason Home Company to renovate the suite. The space will feature a number of private offices, an expansive conference room and open workspace for sales associates and clients to meet. 

"We are thrilled to be moving forward with our newest location in Downtown Stillwater," said broker/owner Justin Fox. "When marketing properties in the Stillwater area, the community's history and unique charm requires great expertise. We are eager to be able to provide this level of service to Stillwater area residents and businesses."

Many of RE/MAX Professionals' associates are experts in the Stillwater/Hudson area, and this expansion provides a more full-service experience for our clients and growing team.

An official grand opening is expected for spring 2015. We look forward to inviting the community, our clients, friends and family out to our new office space!

 

October
13

RE/MAX Professionals is thrilled to welcome Elyse Marie to our team of experienced real estate professionals!

Elyse was born and raised in Woodbury, MN and now resides in Cottage Grove, MN. Needless to say she is a true expert in the east metro! Specializing in both buying and selling, Elyse works with both traditional buyers and sellers and investors, being the go-to resource for all of their real estate needs. In addition to her services, she has selected a team of experts she trusts and recommends - each of them play a vital role in any real estate transaction she manages. It is her expertise and her team's hard work that will make your next real estate transaction a smooth one.

Elyse loves working with investors to uncover the perfect property that they will turn into a gem for the next buyer. And in working with traditional buyers and sellers, she is a great listener who will turn your wish list into a reality. Her business motto is: "Property is important, but people are my priority." We couldn't have said it better ourselves!

Welcome, Elyse! Her experience and genuine, ethical approach to real estate make her a perfect addition to our team of professionals. If you'd like to get in touch with Elyse, you can email her or call her at 651-283-7580.

October
13

Fall proves to be a busy time this year in the real estate world!

Typically, you might tend to think that the real estate market slows down dramatically in the fall as buyers and sellers focus on going back to school and getting into their routines. That's just not the case - especially this year. We're attributing it to the long winter we had last year and the slow start to the spring market.

Here are some of the Twin Cities stats, compared to last September:

New Listings                  74,511 (+3.9%)
Homes for Sale 15,837 (+ 5.1%) 
Days on Market 45 (-2.2%)
Month's Supply 3.7 (+4.4%)
Pending Sales 49,691 (-6.7%)

This is what the numbers are telling us:

 

New listings and homes for sale have been rising steadily since 2011 - slow and steady is a good thing in this case.

 

The "Months Supply" number indicates the amount of time it would take every home on the market to sell given the current rate of closed sales.  Months Supply is generally considered "balanced" at six months.  Anything below that generally indicates a seller's market and anything above that generally indicates a buyer's market.  A 3.7 month supply indicates we're still in a "Seller's Market" - which means that values should continue to rise steadily.

 

Pending Sales are down slightly - which pushes the supply of homes up.  With our current supply, this number is not alarming.  Many of today's buyers are frustrated due to lack of inventory - they just can't find "the one" given the current inventory of homes available.

 

As values rise, current homeowners are experiencing increases in their equity and are no long underwater on their mortgages - allowing them to sell and meet the needs of today's buyers.  We believe there is a level of pent-up demand with homeowners waiting to move or sell their houses. Many are renting these homes out, while others are making due until the market improves.  As this trend continues, we project there will be an increase in inventory and move-up buyers, further moving values in an upward direction.

 

 

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