Friday fun

Holiday weekend

It is Friday and Fridays are for fun. Fridays are even more fun for those who get to enjoy a three day weekend. Enjoy the weekend and drive carefully.  I’ll be back next week with some realestatey type stuff. :)

Butterfly

Butterfly

For the heck of it

Bacon still a big deal

I got to spend a little time at the Minnesota State Fair yesterday. Did you know that you can buy “hot dish” on a stick at the fair? Bacon is also a very big deal. Usually it is combined with other foods but they also sell bacon.

Bacon

Bacon

For Home Sellers

When Mr. Wrong calls

IMG_9901Sometimes people believe that real estate agents work for real estate companies. We are independent contractors which isn’t anything like being an employee or working for a company and of course as we all know real estate companies don’t sell any real estate at all. In most cases agents pay for everything including the for sale sign. If we have offices we pay for those too. We generally fin our own business or it finds us.

Having business especially listing homes for sale is very important but sometimes I can tell as soon as I pick up the phone that I am talking to Mr. Wrong and I say no to potential business. There are people who  don’t like real estate agents at all and even though they call us they are happy to tell us that they don’t need us, we charge too much and we don’t work hard enough. In general life is just too short to work with people who are negative, ignorant and kind of nasty.

The caller often has a 9 to 5 type W2 job. Being self employed is a lot of hard work and it takes courage to support a household without having a job.  We don’t get paid every two weeks even if we don’t accomplish anything. We only get paid after we sell a home and only if the sale closes. Sometimes selling a home takes a long time and is a lot of work and other times it isn’t as much work and sometimes home owners change their minds and take their home off the market which means we don’t get paid at all.

I am not complaining about my job. There are more up sides for me than down and I did my time in the office slaving away for soulless money sucking corporations where woman rarely reach half their full potential.

When Mr. Wrong calls I just say no and I smile because I don’t have to work for or with anyone I don’t want to work with. I can say no and to work and sometimes I do.

Local Market Conditions & home prices

Home sale increase means more Realtors

A Realtor® is a member of the National Association of Realtors. When home sales increase people become more interested in careers in real estate. Membership in NAR peaked in 2006 at over 1.3 million and then fell to just below a million in 2012.

We are back up over a million nation wide with about 13,300 members here in Minnesota. It doesn’t take long to get a real estate license and start a career in real estate but the failure rate among new agents is high. Working on a 100% commission basis isn’t for everyone. When home prices go down so to real estate commissions.

NorthstarMLS_Matrix 3

 

The chart shows the dollar volume of home sales each year in St. Paul. Home prices are rising but we are not seeing the prices we saw a decade ago.

Local Market Conditions & home prices

Supply of homes for Sale in St. Paul

I like to start the week off with some numbers. There is about a three month supply of homes on the market right now in St. Paul. That means that if no more homes were put on the market in St. Paul it would take three months to sell all of the homes that are already on the market. It is still very much a buyers market. The market today isn’t all that different than it was in 2005.

Months supply of inventory

Months supply of inventory – St. Paul, Minneosta

The chart was made using data from the Northstar MLS which is deemed reliable but not guaranteed.

Photos

Home sales down during fair

The number of  offers on homes that are for sale goes down 10% to 30% during the state fair because this is Minnesota and we take our state fair very seriously. If you have your home on the market right now the best thing to do is to go to the fair because it is better than sitting around wondering why there are fewer showings and no offers coming in.

rides

2010 MN State Fair

Contact

Teresa Boardman
Realtor®, MN,
Licensed Broker
Saint Paul Home Realty
651-216-4603
teresa(at)tboardman.com
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