Tami and Steve's I-94 Minnesota Real Estate Blog: Market Fear

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Friday, February 12, 2010

Market Fear

When times are uncertain, as in today's real estate market, consumers can become paralyzed by the bombardment of doom and gloom messages. Two major media bombs seem to be the cause of consumer decision-making paralysis: The first is the belief that we have lost our nest-egg of savings, or equity, in our homes. The second is the possibility of rising unemployment.

Understand: fear can be detrimental to making sound decisions and even self-defeating. Don't be a deer in the headlights. If you are in a quandary over how much your home is worth, how much you think you will not net on the sale, or how much your home will be worth in a few years---if you are allowing television news programs to determine your financial decisions--you have the symptoms of consumer paralysis. Fear takes the joy out of life and out of its possibilities. But realize: fear is manageable and all you need to do is take a few simple steps. Like the deer, it is time to either move back to the shoulder or cross the road.


The steps include: contacting and scheduling a conference with a local Realtor known for having strong market knowledge and a track record of success; taking a few days to digest the local market data and decide what is best for you and your future plans; and staying on the shoulder and avoiding the potential risks of crossing the road may not provide you with a brighter future. Consult an expert to help you make an informed--rather than emotional--decision.

The Data: Foreclosures remain under control. There are only 2.6 foreclosed homes per buyer and they sell in less than a month. Foreclosure buyers can expect to compete in multiple offers and pay full price. Sales are up 22%, January 2009 compared to January 2010 and the average days on market is down 24 days.The number of homes on the market is down 9%, a five year low in homes for sale inventory.Total sold properties is up 22% January to January and the average sales price has increased by 2%.

Safe Crossing: Central Minnesota's market conditions, the low interest rates, and the home buyer and home seller tax credits give green lights for home owners wondering if the time is right to sell. Feel free to contact me for further specifics on the market and enjoy the exhilarating leap across the road.
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Tami DeLand and Steve Hansen
Saint Cloud and Central Minnesota REALTORS
Coldwell Banker Burnet
(320) 258-6675
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St. Cloud Real Estate, Condos, Homes for Sale
Central Minnesota Real Estate
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# posted by Tami DeLand and Steve Hansen @ 10:37 AM

Comments:
That is great info!!! Hope it eases peoples minds!
# posted by Anonymous Anonymous : 12:53 PM CST
 
This is a nice reminder that our fear is only brought on by ourselves. Unless you educate yourself you won't get past the fear. In today's market with prices low most sellers can take a small loss on their homes to capture a large gain on a move-up purchase. The extra $6500 is a nice extra too!
# posted by Anonymous Carissa : 2:38 PM CST
 
It is definitly a great time for people to get their homes on the market. With more and more information available, it is always best to talk with an expert
# posted by Anonymous Craig : 1:13 PM CST
 
Great inspiring blog!
# posted by Anonymous Sheila : 12:24 PM CST
 
THIS is what smart consumers need to hear and it's relevant not only for central Minnesota, but for the entire country. The average sales price and number of homes sold year to date is UP in cities like Las Vegas, Miami, Dallas and here in St Cloud, MN. This article dispels all myths regarding market uncertainty. Only the smart buyers are looking now!
# posted by Blogger Ron : 8:43 PM CST
 
Totally agree with this. It is unfortunate that the media has to incite such negative information without fully informing the public. Thanks, Tami & Steve!

http://activerain.com/blogsview/1491330/on-market-fear-and-thought-positions-vs-talking-points-
# posted by Anonymous Jesse Hopkins-Hoel : 5:10 PM CST
 
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Saint Cloud, MN Real Estate | Tami DeLand and Steve Hansen
About Tami DeLand and Steve Hansen's Saint Cloud and Central Minnesota, MN Real Estate Website: The www.I-94homes.com web site provides Saint Cloud, Waite Park, Sartell, Sauk Rapids, St. Joseph, Clearwater, Clear Lake, Avon, Albany, St. Augusta, Rockville, Coldspring, Righmond, Becker, Rice, Royalton, Little Falls, Monticello, St. Michael, Albertville, Rogers, Otsego, Maple Grove, Buffalo, Annanndale, Rockford, Corcoran, and Central Minnesota, Minnesota real estate information and resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other realty property in the Saint Cloud and Central Minnesota area. Tami DeLand and Steve Hansen (sometimes misspelled as Tammy DiLand, Tammi Deeland, Steven Hanson or Stephen Hanson) have services to help you get the best value for your Saint Cloud and Central Minnesota home and this website offers home buyers and home sellers a superior comparative market analysis (CMA), a way to view real estate and MLS IDX listings including virtual tours, prepare your home for sale, and more. Investors looking for real estate investment properties to invest in need look no farther. Anyone selling a home, buying a home or seeking housing can learn more about our realty services, and will appreciate working with   Saint Cloud and Central Minnesota REALTORs who know  the area so well. Through trusted partners, we also provide real estate and financial services to consumers looking for houses for sale or selling their home in Saint Cloud and Central Minnesota, MN, such as mortgages, credit history, new homes, foreclosures and other services. If you've already tried to go the for sale by owner (FSBO) route and find you are needing a partner who you can trust in the sale of your most precious asset, Tami DeLand and Steve Hansen can take care of your special needs. It really doesn't matter if you spell it REALTOR, Realator or Realter, realty, realety or reality, real estate or realestate, Tami and Steve speak  your language.
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