Health & Fitness
Prices Increase in Stonemill Farms
After 10 years, Stonemill Farms homeowners are still competing with new construction in their neighborhood. How does a homeowner wishing to sell compete with that?
Becky and I are sort of what you would call ‘data junkies’. Especially when it comes to the local real estate market. We keep hearing in the national news that the real estate market is leading the way to economic recovery. That’s great news, but don’t you wonder what that really means for those of us here in Woodbury?
Take Stonemill Farms, located on Woodbury’s eastern border. A look at the attached graph from the Minneapolis Area Association of REALTORS® will show you that average sale prices for previously owned homes have increased 14.2% over the same time last year. This is wonderful news for Stonemill Farms homeowners, who continue to face competition from the new construction that is still going on in this development.
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I was recently asked by a homeowner how a previously owned home can compete. One answer is VALUE! Homeowners wishing to get the best price in neighborhoods competing with new construction need to make sure they are providing value for prospective buyers. Sometimes it’s as simple as making your home more attractive to buyers and giving them something they won’t get with a new home. One way to do that is to offer something that builders often don’t, such as finished basements and attractive landscaping with outdoor living spaces. These ideas don’t have to cost a fortune, and you shouldn’t invest heavily into them before you talk to a real estate professional about the returns you can expect if you plan to list.
John and Becky Durham are Eastern WI and Minnesota real estate agents with RE/MAX Results and Durham Executive Group. For more information about us, check out our website at www.results.net/john.durham
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John Durham - 651-231-2191 john@durhamexecutivegroup.com
Becky Durham - 651-231-2192 becky@durhamexecutivegroup.com
- All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin.
