Filed under: Market Statistics, Selling a Home, Twin Cities Real Estate News | Tags: Cheryl Brenna Group, current home inventory, home sales, Selling Your Home, Twin Cities Metro Area
This May Very Well Be The Time To Put Your Home On The Market
The end of the first-time home buyers tax credit looms just 30 days beyond a Halloween horizon, and home sales remain strong in the lead-up to tricks and treats and the impending tax credit DEADline. For the week ending October 17, there were 954 signed purchase agreements, howling upward 54.4 percent from a year ago. Almost two-thirds of these pending sales were priced below $190,000—evidence that first-time buyers are carrying a heavy share of the activity.
The strong sales we’ve seen over the last 15 months mean that our inventory of available homes has shrunk like the heads in a witches’ brew. The 23,896 homes on the market right now represents a 21.2 percent decrease from the decidedly more scary market of 2008, and it is the lowest mark at this point in the year since 2004.
So, for those if you who are even considering if it is a good time to put your home on the market, the answer is YES due to the low inventory and the appealling low interest rates. There are buyers out there that may just very well become bewitched with your home!
The Cheryl Brenna Group has buyer’s we are working with, and unfortunately we have not been able to find them a home they love. Let the Cheryl Brenna Group guide you through the process of selling or buying a home or both. We have a genuine vested interest in each and every one of our clients. It is at least worth considering …a lifestyle change can be the beginning of a very exciting new journey…
Filed under: Buying a Home, Selling a Home, Twin Cities Real Estate News | Tags: Cheryl Brenna Group, foreclosure, short sale, Twin Cities Metro Area, woodbury minnesota realestate
Should I Make an Offer on a Short-Sale Property? 
Given the state of the economy, short-sale and foreclosure properties are a fact of life. Many homeowners wonder, “What happens if I can’t afford my home?” And potential buyers ask, “Should I made an offer on a short-sale property?”
Both questions can be complicated. There are myriad details to consider. It could, for example, take six to nine months before either party gets an answer from the lender. Even longer if there are two separate mortgages!
CERTIFIED DISTRESSED PROPERTY EXPERTS
Being Realtors, we are asked such questions almost on a daily basis. As a result of the market’s being saturated with these properties, The Cheryl Brenna Group is Certified Distressed Property Experts. We are prepared to assist both sellers and buyers.
SELLING
Homeowners need an advocate — someone who sincerely cares about them and is dedicated to making the process less stressful from beginning to end. We have the expertise to help: to evaluate the options and guide the seller through an appropriate course of action.
For us, it is not just about the financial benefit of a commission. The Cheryl Brenna Group has a genuine interest in helping people who are going through one of the most trying periods in their lives. We know how emotional it is. We also understand that there are many homeowners who do not fully comprehend what their options are, or if they even have options!
We appreciate the sense of loss. Life is not easy and we are all tested on a daily basis. There are always lessons to be learned, but once we realize what we’re suppose to discover in the experience, we are usually stronger and better people. As the song says, “Mama said there’d be days like this … Mama said, Mama said!”
I am not, by any means, making light of circumstances that leave a homeowner contemplating a short sale. But hanging on to your sense of humor — if possible — sure helps. If you are one of the thousands who find yourself in this situation, we hope that you will put your trust in The Cheryl Brenna Group. Count on us to get you through this distressing time.
BUYING
The Cheryl Brenna Group is willing and able to help in the purchase of a short-sale or foreclosure home. Buyers need to know how to navigate what can prove to be a complex transaction. There are pitfalls — and we know how to avoid them.
Let the Certified Distressed Property Experts at the Cheryl Brenna Group be your inside guide to short-sale and foreclosure properties.
Filed under: Market Activity Reports, Market Statistics, Twin Cities Real Estate News | Tags: Cheryl Brenna Group, Market Activity, metro area, Twin Cities Metro Area, Woodbury Real Estate News
Twin Cities Market Activity
The Labor Day fluctuations came and went, and the Twin Cities housing market is better for it. Pending sales for the week ending September 13 rose dramatically to 1,043, which is 33.5 percent above last year’s total for the same week. We must assume that a healthy chunk of this buyer activity can be attributed to first-time home buyers taking advantage of the tax credit before it expires on November 30.
New listings came in at 1,846, up 3.2 percent in a year-over-year comparison. Home sellers have recognized a window of opportunity in recent months and are listing with a little more frequency, but the overall inventory of houses for sale is still below that of the last three years and our Supply-Demand Ratio (which measures the number of houses available per buyer) remains 30.3 percent better than where we were a year ago.
Traditional home sellers should consider making that price reduction now in order to lure buyers to your home and benefit from this window of opportunity. This fall you can take advantage of the nearing deadline of the $8000 tax credit for first time home buyers. Other advantages for the traditional home seller include the drop in foreclosure inventory, the opportunity for multiple offers on foreclosure properties and the length of 
time it takes to complete a short sale transaction. Even the local media has picked up on the positives occurring in the Twin Cities real estate market. The Cheryl Brenna Group invites you to view the attached from Fox 9 News on the Metro Housing Market Showing Signs of Recovery which aired Friday, September 25, 2009. See the video by reporter Tom halden below.
The encouraging news and it creates many reasons for optimism: 1) Growth in sales is no longer confined to lender-mediated homes as it had been earlier this year. 2) The median sales price has grown from $154,125 to $175,000. 3) Prices are stabilizing due to strong buyer demand – especially in the lower prices ranges. Let us help you with all your real estate needs. The Cheryl Brenna Group will look after your best interest and work diligently for you whether you are in the market for a new home or selling your current home! The time is now…whether you are a buyer or a seller in this market!
Filed under: Market Activity Reports, Market Statistics, Twin Cities Real Estate News | Tags: Cheryl Brenna Group, Market Activity, metro area, Selling Your Home, Twin Cities Metro Area, woodbury mn
Market Activity Report
August. Welcome to another summer month in the Twin Cities housing market. Pending sales in July ended on a fairly positive note. The 1,009 purchase agreements signed for the week ending July 25 were 21.4 percent above last year at this time. The 1,652 new listings this week are 9.0 percent less than this week in 2008. Active listings as a whole are 21.7 percent behind last year.
The metric to watch this month is the Supply-Demand Ratio. At 4.88, this is a startling 34.8 percent less than where we were at this time last year. With less than five houses on the market per buyer and an affordability index sky-high at 192, the window is quickly closing for those wanting to get into a home under ideal conditions.
What’s the Better Seller Strategy?
The Minneapolis Area Association of Realtors sent out a one question survey a few weeks back to its 8,000+ members and over 240 members responded. 
Q: What’s the better seller strategy for properties that are having a tough time selling?
1) Price reductions.
2) Financial incentives to the buyer (seller pays closing costs, throws in sweet flat screen).
We thought you, especially sellers, would find this information very interesting. Over 73% of those that responded chose price reductions while only 11.6% chose buyer financial incentives. Note: Almost 9% of members wrote in “price it right from the start”.
The overall findings show that price is the driving force in this market. Let the Cheryl Brenna Group help you develop a marketing plan that will help you sell your home in this challenging market. We will provide you with all the information you need to price your home right and get it sold!
Filed under: Market Statistics, Twin Cities Real Estate News | Tags: currenty home inventory, MAAR, Market Activity, Twin Cities Metro Area, Woodbury Real Estate News
Lender-Mediated Supply of Homes for Sale Continues to Drop
The Q2-2009 Update to “Foreclosures and Short Sales in the Twin Cities Housing Market” was recently released by MAAR. Here’s a breakdown of the key takeaways that were discovered:
Takeaway #1: After reaching a historic peak in February, the number of foreclosures and short sales available for sale has fallen by more than 2,100 units to 6,685 at the start of July—the fewest available since March 2008. We’re not through the woods yet, but it’s a positive sign that so much of this inventory is being absorbed by buyers.
Takeaway #2: New analysis of RMLS data indicates that the supply of bank-owned foreclosures (excluding short sales) is much smaller. There were 1.84 bank-owned foreclosure homes available for each buyer in June—compared to 5.10 homes owned by a traditional seller and 10.22 homes in a short sale situation.
Takeaway #3: For Q2-2009, 30.0 percent of new listings and 44.2 percent of closed sales were lender-mediated.
Takeaway #4: Lender-mediated sales have increased 103.9 percent in the last year, while traditional sales have fallen by 17.2 percent.
Takeaway #5: New lender-mediated listings dropped slightly in Q2 2009 vs. Q1 2009 and have remained relatively flat for 5 quarters in a row. However, with rising unemployment and increasing mortgage defaults, high levels of new foreclosures are likely to continue into 2010.
Market Activity
As summer progresses, the Twin Cities housing market continues on a well-established pattern of shrinking supply and growing sales. New listings for the week ending July 11 were 1,867—a 13.7 percent decrease over last year but a nice pickup after the annual July 4 slowdown. Pending sales rose to 1,007, a year-over-year increase of 16.6 percent. That’s not as much of a year-over-year expansion as the 30-plus percent growth this number has seen recently, but it still represents a trend of growing demand.
Active listings are at 26,279, a decrease of 21.3 percent from this time last year. Coupling this with a shrinking number for Months Supply of Inventory and a flattening of our Average Days on Market, it’s apparent that the buyer advantage over sellers is waning, at least in the lower price ranges.
The Cheryl Brenna Group invites you to view the latest Skinny Video provided by the Minneapolis Area Association of Realtors for a recap of the most recent real estate statistics and trends. Take a look…
Filed under: Market Statistics, Twin Cities Real Estate News | Tags: Twin Cities Metro Area, Woodbury Housing Supply, Woodbury Real Estate News
The July Housing Supply Outlook just hit the internetz and, as usual, here are some quick bullet points of what to watch for.
Takeaway #1: The months supply of inventory for homes under $120,000 has dropped 61.5 percent in the last twelve months from 9.3 to 3.6—the lowest mark for that price range since 2005. Sales have almost quadrupled in that category in the last year while inventory of available homes has basically held flat. In sum, it is now officially a seller’s market in that price range.
Takeaway #2: The upper price brackets look markedly different, however. North of $190,000 sales are still in decline compared to a year ago. And north of $500,000 the months supply of inventory available continues to grow.
Takeaway #3: Condominiums remain the only property type that has still seen a year-over-year drop in home sales, down 8.2 percent over the last twelve months. Sales of single-family detached properties are up 20.2 percent and townhomes are up 4.9 percent
The latest Skinny Video from the Minneapolis Area Association of Realtors supports this information. Take a look…
We hope you enjoyed the Fourth of July weekend with your friends and family! The Cheryl Brenna Group has the inside guide to all of your real estate needs.
Filed under: 1, Twin Cities Real Estate News | Tags: Cheryl Brenna Group, Community of Woodbury, Minnesota, Twin Cities Metro Area, Woodbury Real Estate News
Celebrate the Fourth of July at Ojibway Park in Woodbury!
It is hard to believe that the Fourth of July is already here. Honestly, it feels like school just let out! Let the festivities begin! In Woodbury we are privileged each year to have one of the best community celebrations in the metro area.
Are you looking for some old fashioned, family fun on the Fourth of July? Just pack up the lawn chairs or bring a blanket and come to Ojibway Park for the city’s annual holiday celebration. Festivities begin at 7 p.m. with a performance by Woodbury’s Red Rock Swing Band. The Fourth of July celebration culminates with a fireworks display, which will start at approximately 10 p.m. All activities are free of charge. Concessions will be sold on site. The event is scheduled rain or shine, and parking once again will be available in the large lot behind Woodbury High School. For more information, call the Parks and Recreation Department at (651) 714-3583.
If you haven’t made your plans for the weekend, we are including below a list of local fireworks displays and city celebrations:
Eagan 1501 Central Parkway, Eagan The Eagan July 4th Funfest ends with a spectacular fireworks show over Central Park. Check out the website for details.
Maplewood 1663 Co. Road C, Maplewood Enjoy fireworks in Maplewood at the beautiful Hazelwood Park. Sparks go off at 10:00 p.m.
Oakdale 400 Glenbrook Ave. N., Oakdale Bring your blanket and lawn chair to the annual 4th of July fireworks celebration. Fireworks begi
n at dusk.
St. Paul Harriet Island. June 2-5th. Taste of Minnesota. Great food, live entertainment and one of the best fireworks displays.
Stillwater 100 S. Main Street, Stillwater Enjoy fireworks in downtown Stillwater over the beautiful St.Croix River. Show beings at dusk.
White Bear Lake 4980 Lake Ave. N., White Bear Lake The 41st Annual Manitou Days ends with a fireworks show and music at Memorial beach. Music starts at 8:00 p.m. and fireworks start at 10:00 p.m.
Woodbury 2695 Ojibway Drive, Woodbury Bring your blanket and lawn chair to Ojibway Park for the annual 4th of July celebration. Woodbury’s Red Rock Swing Band plays tonight at 7:00 p.m. All activities are free. Fireworks start at 10:00 p.m. Click here for more information.
Hudson, WI Main Street. Enjoy the Carnival, Downtown Business Sidewalk Sale, Live Entertainment, Fireworks and more. Events start Wednesday, July 1st. For more detailed information and times visit the Hudson Booster’s website.
From all of us at the Cheryl Brenna Group, have a fantastic Fourth of July weekend! Happy Independence Day, and we’ll see you around the neighborhood!
Filed under: Buying a Home, MN, Twin Cities Real Estate News, Woodbury | Tags: Cheryl Brenna Group, Purchase a home, Real Estate, woodbury minnesota realestate
Making Your Move Less Stressful!
Whether this is your first move or your fifth move, most of us have heard that moving is considered to be one of the top 10 stressful life events. Moving into a new home may sound exciting, but anyone who’s been through 
it can tell you that the process can become quite overwhelming. The moving process is made up of a combination of life changing events: selling your current home, the purchase of your new home, maybe a new job, children changing schools and leaving a comfortable environment and friends. No wonder the stress level associated with moving is off the charts!
But, with the proper planning and the right people looking out for your best interests, moving can be a pretty seamless event. The Cheryl Brenna Group cares passionately about the people we represent. We want to make buying a new home a great adventure for our clients. We have developed a seamless process to help minimize your stress and anxiety by providing unsurpassable customer service. We can provide you with a moving checklist that will help keep you organized and on track. Remember, it helps to start planning a few weeks in advance!
We can also provide you with the inside track on just about everything you would need when moving to or within Woodbury, Minnesota. Check out the Favorites of the Cheryl Brenna Group on our Home Page! You will find numerous recommendations for interior designers, painters, lawn and landscape services, cleaners and organizers, places to shop, entertainment, schools and more!
Our goal is to make this transition for you and your family as easy and straightforward as possible. It takes passion and a genuine time investment to ensure that our buyers (and sellers) have had the best experience possible. That in itself is what separates the best from the rest in the real estate industry. Make yourself at home with the Cheryl Brenna Group!
