2010 is just about behind us so it’s time to reflect on the prior year and look forward to 2011. The year proved to be the slowest Twin Cities real estate market in many many years but I’m very proud of the selling success I had in this down market. On top of that I’ve always been very service oriented so helping my clients meet their goals gave me a lot of job satisfaction this year.
2010 Home Sales Results – Sellers
My primary focus for the year was, and continues to be, working with sellers to list and sell their homes. If you asked Realtors in 2010 whether they’d prefer to have a seller or buyer client the vast majority would say buyers. That’s because there are so few buyers in the market and, on average, only 40-50% of listings have been selling. Therefore, I was quite proud of my track record of selling 11 of the 12 listings I had during the year.
Here are pictures of the homes sold which included 3 townhouses and single family homes starting at $142,000 and going all the way up to $563,000 -
The 11 home sales added up to $2,865,600 in home sales for 2010.
The proven sales process that The WE Team uses has proven over and over to successfully help clients sell their homes. It includes professional staging advice, professional photography and an aggressive marketing campaign.
2010 Home Sales Results – Buyers
As I mentioned above, 2010 was a good year to work with buyers as they had all of the negotiating power, lots of homes to choose from and record low interest rates. For the year I helped 8 buyers which included:
- 3 buyers where I helped them sell their homes first and then worked to find a new home – their old homes are among those pictured above
- 1 relocation buyer moving to the Twin Cities
- 3 first time homebuyers – there’s nothing like the excitement of first time buyers at closing
- 1 investor buyer – okay in all honesty this one was me. I bought an almost new, bank owned townhouse last month for about half of what it sold for new in 2007. Many good deals to be found out there right now whether you want to flip the property or use it as a rental property as I’m doing.
The home sales for these 8 homes added up to $1,724,000 for 2010
You can read about a number of these clients’ testimonials here or read from my stories of expired listing successes here.
Final 2010 Tally & 2011 Forecast
With over $4.5M in home sales for the year it easily puts me into the top 10% of all Twin Cities Realtors.
2011 is looking to be another continued year of challenges for the Twin Cities housing market as we have a lot of homes on the market, too many bank mediated homes that drag down pricing and some increases in interest rates that reduce buyer purchasing power. That said, even if we don’t get a lot of new job creation it feels like people who have jobs are feeling that their positions are more secure with the worst of the layoffs behind us. This will at least boost confidence going forward and provide some momentum for buyers as consumer confidence is a key metric.
Therefore, I’m hopeful that 2011 will be one of some improvement in sales volume which should help to stabilize prices this year.
To help you achieve your house buying or selling needs in 2011 the first step to success is to contact me.
