Stax, Home Seller in Lowry Hill East, Min...

I own a single family home in "The Wedge". The property was originally purchased as an investment and currently has tenants. I'll be

Asked by Stax, Lowry Hill East, Minneapolis, MN Thu Jan 7, 2010

ready to sell in the next 4-6 months - how is the market for 450K - 500K homes?

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I personally think that there will be some pent up demand by then, especially around June. I have seen many homes in East Calhoun and Lowry Hill come down by $100 K in the 600-700K range, but, Wedge homes can sell quickly because they are not priced as high as some of the other areas around the Lakes, yet, still have the same amenities, ie. close to the Lakes, downtown, and restaurants, Uptown etc. Financing can be a bit of an issue, so if there is a possibility of owner financing - it will afford you an edge in a highly competitive market. I would love to help you find a value that is marketable for your property when that time comes. Best of Luck.
0 votes Thank Flag Link Tue Feb 15, 2011
Stax,
Unfortunately homes in the $450k-$500k aren't selling very quickly. Right now the focus is on homes suitable for first time home buyers since they can take advantage of the tax credit that is being offered through April. That's not to say if won't sell and can't sell quickly depending on the condition, price compared to other similar homes on the market and location.

You're doing the right thing by planning in advance and seeking the advice of real estate professionals.

Good luck.
0 votes Thank Flag Link Thu Jan 14, 2010
Would you like a CMA? (Comparative Market)

or a What's Your Neighborhood Worth?

http://benitogarza.remax.com/Listings/NeighborhoodValuation_…

Best.

Benito.
0 votes Thank Flag Link Tue Jan 12, 2010
Hi, as every home, a house well price will sell.
There are buyers looking for great homes since there are a lot of foreclosures in bad conditions.
0 votes Thank Flag Link Sun Jan 10, 2010
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