We didn’t know it at the time but 2011 was the perfect time to buy real estate in St. Paul. It looks like home prices are back up to where they were in 2007. Buyers ask if prices will keep going up. Right now it looks like prices will continue to rise but the rate of increase per year has been slowing.
Today, July 1st 2017, is a historic occasion. It is the first Sunday ever in the history of the state that liquor stores can be open and we can buy alcoholic beverages Sunday. People are quick to remind me that not all liquor stores will be open and not everyone is happy with the new law.
Banning the sale of liquor in Sunday was a “blue law”. Blue laws date back to colonial times and were made for religious reasons. It has always been legal to drink on Sunday in Minnesota and alcoholic beverages are sold in bars and restaurants.
Some liquor stores will stay closed and I respect that. As a self employed person I have choices about when I work. I don’t work every weekend. I take the major holidays off completely.
Many people work on weekends. Some people work two jobs. Some people have religious beliefs that include celebrations on Saturday not on Sunday.
I plan to mark this historic occasion by stopping at the neighborhood liquor store and buying a bottle of wine. It will be the first time in my life that I have ever made a purchase in a liquor store on a Sunday. Up to now I have always planned ahead or managed without.
There are still 11 states that do not allow liquor sales on Sundays. Alabama, Indiana, Mississippi, Montana, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Utah, and West Virginia.
On average Saint Paul home sellers are getting 99.5% of their asking price. In the Hamline Midway sellers are they are getting 101.2% of the asking price but in downtown Saint Paul sellers are getting 98.3% of their asking price. Real estate really is that local.
I am running into some sellers who believe they will get 100% of their asking price even if they over price their home. They sometimes ignore some great offers as they wait for the better offer that never comes. Over priced homes do not sell for 101% of the asking price. Proper pricing matters.
Home sellers need to be aware that they may not get any offers for their home if it is priced incorrectly and when they do get offers it will be after the home has been on the market for a while and the offer might be for 5% to 15% below the asking price.
Tomorrow I’ll publish the numbers for home sales in St. Paul for the month of May 2017.