Category Archives: Home Trends

Are we in a Balanced Real Estate Market?

Balanced Real Estate Market | Real Estate Blog | Matt Engen Group

We’ve experienced quite a few years of a strong sellers market here in the Minneapolis/St. Paul metro area but the tides seem to be shifting back towards a balanced real estate market. We think that’s a good thing. What are we seeing to make us think a shift is coming? Well let me explain. We typically see a bit of a slow down in the fall and winter months but we’re seeing more and more listings than previous years and they’re staying on the market a little longer than a day. Buyers in the entry level price point where multiple offers and homes selling over list price can finally breathe because the listing inventory is rising which translates to more houses to choose from.

On the sellers side we’re seeing more and more price reductions on currently listed homes. This means that the price of homes isn’t growing as quickly as it had been, it’s balancing out, bringing us back to a balanced real estate market.

And finally interest rates are rising, they’re currently around 5% for a 30 year fixed loan and while this may feel high for some of us, this is still historically low. Unemployment is low and the economy is doing well so despite how you may feel when you hear the current interest rate this a normal and healthy practice.

So don’t panic when you hear about the market shifting because a balanced real estate market is not a bad thing, it’s just different from what we’re used to. Now really is a good time to buy and sell a home. We understand that there are pros and cons to every situation but if you’ve been considering making a move now may be a really good time for you to sit down and evaluate your goals and consider making that move sooner rather than later.

 

Halloween Decorations

I don’t know if you’ve noticed but decorating your home with lights, skeletons, ghosts and other spooky creatures has become popular for Halloween.

  • Please note if your home is currently for sale we do not recommend decorating like this for Halloween. Instead we recommend pumpkins, mums and general fall decor.  

But since I’m a huge fan of Halloween and I love when people embrace the spirit of the holiday I’m sharing my favorites here. I’m pretty sure these will make you smile and maybe even inspire you to decorate. If you do let me know or better yet, send me a pic.

Halloween Decorations | Minneapolis Homes | Real Estate Blog | Matt Engen Group

Halloween Decorations | Minneapolis Homes | Real Estate Blog | Matt Engen Group

Halloween Decorations | Minneapolis Homes | Real Estate Blog | Matt Engen Group

 

 

According to Zillow

I love design trends and selling houses is what we do. So it’s no surprise I’m a fan of Zillow’s latest research on paint colors and how they impact the sale price of a home. If you’re thinking about selling in the near future you may want to pay attention. Todays buyers want what they are seeing on Pinterest and Instagram and all the features they highlight in their research can definitely be found there.

Here’s a quick recap of my favorites with pictures I found on Pinterest for inspiration.

Homes that feature charcoal gray or black doors typically sell for $6,271 more than expected. And why not, statement doors are beautiful and increase curb appeal. I’m in love with the traditional look of a white house with a black door, it appeals to a wide variety of buyers and if you’re selling you’re home that’s exactly what you want. I found this one on Pinterest.

Houses with kitchens that have a different color for the upper and lower cabinets known as tuxedo cabinets sell at a $1,547 premium. When you consider how much it costs to re-do a kitchen I’m not sure this offers as much bang for your buck as painting the front door but it’s good information to know and an indicator as to what’s coming.

As for bathrooms, light blue or periwinkle blue paint increases the selling price by $2,786 according to the research. Like painting the front door this one’s a no brainer if you ask me. A fresh coat a paint will freshen up the space and make it feel clean. I should note here that cleaning is another huge selling feature that does not go un-noticed, especially when staging the bathroom.

And finally, this last one kind of surprised me, considering all the gray walls we’re seeing in the Minneapolis/St. Paul real estate market. Homes with light taupe living rooms, with tan, peach or pink undertones sold for $2,793 more than expected.

All the images pictured were found on Pinterest and are saved to our Matt Engen Group Pinterest page.  If you’re on Pinterest too be sure to follow us there.

#pinterest #zillow #paintcolors #hometrends #sellingtips #mattengengroup