April Showers Bring . . . May Price Cuts(?)

With the snow barely gone and the trees still November-bare, it will certainly strike some as odd to say this, but it’s true:  the Minnesota Spring housing market is already getting long in the tooth.

So, if your home hit the market in February, and is unsold three months later, in early May — it’s time to try Plan B.

That’s especially true for homes that primarily appeal to family buyers:  roughly, homes with at least 3-4 Bedrooms and over 3,000 square feet.

Family Buyers like to purchase by Memorial Day so they can move in over the Summer, and be in place for the new school year, post-Labor Day.

Plan B

So, what’s Plan B?

For most homes, it’s cutting the price (“Nurse!  I Need a Price Reduction, Stat!“). 

For others, though, it’s addressing any negative themes that have emerged in Buyers’ feedback, assuming that:  a) there has been feedback; and b) that that’s possible to do (vs. changing the location or putting in a new Kitchen overnight).

New paint, new carpet, fresh or better staging — all those things can help jump start a slow listing.

Even better:  one or more of those things AND a price reduction.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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