Back on Track

USSF

National Association of REALTORS® (NAR) President Gary Thomas confirmed that some owners who were hurt by the downturn are now in the market. “Rising values have improved the position of homeowners, and 16 percent of REALTORS® surveyed in June report they worked with a client that previously had an underwater mortgage,” he said.

“Of those previously underwater owners, 53 percent were planning to buy another home and 22 percent intend to rent, but 25 percent weren’t sure what they’d do. In addition, 47 percent of REALTORS® report they have potential sellers who are waiting for additional price appreciation before they sell,” Thomas said.

Meanwhile, single-family home sales numbers increased by 14.5 percent from June 2012 to June 2013, while the median existing single-family home price came in at $214,700 in June 2013, up 13.2 percent from June 2012.

Lawrence Yun, NAR Chief Economist, said there is

enough momentum in the market, even with higher interest rates. “Affordability conditions remain favorable in most of the country, and we’re still dealing with a large pent-up demand.”

Because real estate activity, prices and trends are local, you’ll want to check in with your real estate sales representative for the latest updates on housing movement in your area. Let’s talk today!

Greatly improved real estate conditions in many cities are prompting a number of homeowners to re-evaluate their moving plans, and put the possibility of buying and selling their property back on their agendas.

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Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.

Adrienne & Aaron Thompson

Excelsior Real Estate, Inc.350 Hwy. 7, Suite 101Excelsior, MN 55331

Office: 952-486-7146Aaron: 612-384-5394Adrienne: 612-600-3550Fax: 952-486-7147aaron@excelsiorteam.comadrienne@excelsiorteam.comwww.ExcelsiorTeam.com

We’re officially in the season ofchanges and transition - a time toreflect and review any thoughts ofmoving you may be considering.Please don’t hesitate to call if you’dlike to find out what’s new in yourarea, or an area of interest to you.

Volume 9, Issue 10

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Bamboo Bamboo has recently been gaining traction as a viable flooring option. If you’re unconvinced, or just unaware, consider this: bamboo floors offer the warm look of hardwood, are comparably priced, and equally low maintenance. Where bamboo differs from hardwood is durability. Harder than oak, a properly maintained bamboo floor can last a lifetime. As bamboo stands up well to traffic, and is stain, impact, and moisture resistant, it’s a great choice for any room. What’s more, bamboo floors are environmentally friendly as they’re made from a highly renewable resource.

Carpet Tiles Who hasn’t wished they could just replace that one part of the carpet with the stain? Carpet tiles let you do exactly that, making them ideal for homes with children or pets. Highly versatile, you can also rotate them for more even wear, and customize your floors by using tiles of different colors and patterns to create borders and other designs. A great solution for small or irregularly shaped rooms where sizing traditional carpet is more difficult, carpet tiles are easy to install and easy on the budget.

Cork Harvested from bark and made from materials leftover from the manufacturing of wine corks, cork floors are another green alternative. Easily cleaned and highly durable due to their elastic and moisture-resistant nature, cork floors perform well in high-traffic areas. With a honeycomb-like structure full of air, cork feels softer underfoot, is naturally insulating, and provides excellent shock and noise absorption, making it particularly well suited for condos, basements, and homes with children. Choose from a variety of colors and patterns, including those that look like marble or hardwood.

Recycled Glass Tile Glass tile is just as tough as ceramic, and can be installed anywhere ceramic tile would be. It’s less porous, however, meaning greater moisture and stain resistance, which is why it’s most commonly used in kitchens and bathrooms. Offering a unique translucent look other tiles can’t offer, recycled glass tiles are made from post-industrial and

post-consumer glass that’s been crushed and melted down; the result is tile that’s even clearer than brand new glass, making for more bright, brilliant flooring, available in a variety of dazzling colors and finishes.

Rubber Like cork, rubber is forgiving, feeling softer underfoot and absorbing impact; plus, it’s anti-slip, making it a safer choice for children and older adults. Sound-dampening and designed for heavy wear, it’s ideal for high-traffic areas; its non-porous surface is stain and moisture resistant, making it suitable for kitchens and bathrooms, too. Think it only comes in black and has treads? Think again! Rubber flooring comes in a wide selection of colors, textures, and patterns, including marble. Floors made from natural or recycled rubber provide an eco-friendly alternative to synthetic rubber.

Is the ground beneath your feet looking a little (or a lot) worse for wear? Is it so outdated that stepping

across the threshold feels like stepping back in time? Below are five unconventional flooring options you

may not have considered for your home – but perhaps it’s time you did!

Far-Out FlOOrIng

In PlaIn SIghtOn the lISt

Volume 9, Issue 10 3

as a homebuyer, your “needs vs. wants” list is one

of your most important documents. here’s how it

can serve as a valuable tool at different stages of

the home-buying process.

Creating a “needs vs. wants” list helps you – and your real estate representative – figure out exactly what it is you’re looking for in a property, thus narrowing the scope of your home search. Creating that list before you start shopping will save you (and your rep) a lot of time and energy, and make the process shorter and less stressful for you.

During showings, your list can help prevent you from falling “in love” with (and, as a result, overpaying for) a home by keeping you focused on your priorities and providing objective criteria against which you can measure each property. Take a copy to each showing and use it as a literal checklist to help you remember and distinguish between properties.

If you feel your home search has gotten off track (e.g. it’s taking too long or the homes you’re looking at are out of your price range), your “needs vs. wants” list can help you correct your course. You may simply need it to remind you of your home-buying goals, or you may need to reassess and revise your list.

After signing a purchase agreement, it’s not uncommon to get cold feet. Reviewing your “needs vs. wants” list can be helpful here too. Compare the property you’ve chosen with the list you’ve made – if this home satisfies all or most of your criteria, and if any compromises you made still make sense, you’ll no doubt find yourself reassured in your decision.

Windows and doors. Replace missing or broken screens and glass panes. Make sure windows and doors open, close, and lock properly, and are clean. Silence squeaks with lubricant. Replace caulking and weather-stripping and repaint as needed. Polish or replace door hardware.

Walls and ceilings. Remove wallpaper. Sand rough spots, repair popped nails, and patch holes and cracks. Wash your walls, then repaint them in a neutral shade. If your ceilings have water stains, give them a fresh coat of paint too. Replace missing or damaged trim and re-paint it as needed.

Floors. Damaged or outdated flooring (e.g. stained, worn, an unusual color or passé pattern) should be replaced. Otherwise, repair and revitalize floors as needed: replace missing, broken, or stained tiles; have carpets professionally cleaned; make vinyl shine again with vinegar and water; wash and buff or refinish hardwood.

Cabinetry. Make sure doors and drawers open smoothly and quietly, and outfit them with new hardware – this inexpensive improvement will go a long way towards updating your kitchen and bathrooms. If your cabinetry’s in good shape but looks dated, you can refinish or reface it instead of replacing it.

Plumbing and electrical. With little else to do in an empty home, buyers will be more inclined to play with switches, taps, handles and such, so ensure toilets flush properly, water pressure is strong, taps don’t drip, pipes don’t leak, and light switches, dimmers, and appliances work.

In empty homes, flaws stand out all the more. as buyers will have little else to focus on during showings, you’ll need to focus on preparing the following five areas of your vacant home before showings.

Few things can lower the value of a house like foundation problems. Whether you’re a homeowner or a homebuyer, learn how to spot current or potential problems by looking out for the following signs.

Inside the house: Floors slope or have depressions, humps, or soft, spongy

spots; tiles are raised or cracked; hardwood is warped. Wallpaper is torn, wrinkled, or curling. Cabinetry won’t stay shut and/or has separated from walls

or ceilings. Doors or windows don’t open and close properly, and/or have

gaps between them and the framing; frames are askew. Cracks in sheetrock, walls (particularly at joints), ceilings, the

basement, moldings; in and around fireplaces; and at the corners of window and door frames.

A lot of nails popping out of sheetrock or corner frames. Bowed basement walls.

Outside the house: There are cracks in the brick veneer or mortar, most

commonly found in a zigzag or “step” pattern that follows mortar.

The brick veneer is pulling away from window or door frames, leaving a gap.

Fascia boards are separating; this is especially common at the corners of the house.

The roofline is uneven. The chimney is cracked and/or tilted. Visible cracks in the foundation. Hairline cracks are normal

and unlikely to be problematic; larger cracks, which can let water in, are cause for concern.

Gaps between garage doors and the ground.

If you see any such signs around your current house, don’t hesitate to contact a professional – left unaddressed, small problems can become big ones. If you’re considering buying a home that exhibits any of these signs, be sure to have it inspected so you have a clear understanding of its condition.

Structural IntegrIty

Terminology TipListing Agreement — A contract between a homeowner and a licensed real estate broker authorizing the broker to market a property for sale during a given time period. The listing agreement sets limitations on the broker’s authority and forms the foundation for drafting offers on the property and the negotiations involving the offer. This contract also provides detailed information about the property being sold, which assists agents in handling inquiries from prospective buyers responding to ads or viewing the property.

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MINNETRISTAJUST SOLD PENDINGJUST LISTED

18100 Woolman DriveSteiner & Koppelman Home

Lake MinnewashtaLake Front w/Sand Beach

26745 Edgewood Road3 Acre Estate w/Pool

7011 Hallstead DriveLarge Walkout Rambler

Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.

The information and opinions contained in this newsletter are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This newsletter is provided with the understanding that it does not render legal, accounting, or other professional advice. Not intended to solicit properties or businesses listed for sale and agency agreements in place with other real estate brokers. Whole or partial reproduction of this newsletter is forbidden without the written permission of the publisher. © Market Connections Inc.® 2013, Phone: (800) 387-6058.

MINNETRISTAJUST SOLD PENDINGJUST LISTED

18100 Woolman DriveSteiner & Koppelman Home

Lake MinnewashtaLake Front w/Sand Beach

26745 Edgewood Road3 Acre Estate w/Pool

7011 Hallstead DriveLarge Walkout Rambler

Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.