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Health & Fitness

Is Inver Grove Heights a Sellers Market?

Inver Grove Heights Real Estate update.

Inver Grove Heights Market

Everybody knows the home market has been in a
downward slide for over five years.  Now everyone is trying to predict when
things will start to improve.  This recovery will vary depending on location as
certain neighborhoods were affected more dramatically than others. 

In an effort to provide accurate information Inver Grove Heights, I don't feel that I am going out on a limb by saying the recovery has already started.  As of today the number of  Inver Grove Heights Homes  available was 96.  Of those, 22
were unavailable due to being short sale homes currently with accepted offers. 

 

Find out what's happening in Inver Grove Heightswith free, real-time updates from Patch.

What does this mean for Inver Grove Heights Residents?

Well, don't get your hopes up quite yet.  All
this means is that Inver Grove Heights is in a better position than a large
number of it's neighboring cities.  In a balanced market, the Adsorption Rate (how
many months it would take for every home to sell if no other homes were put on
the market) is roughly five months.  As as Febrauary 2013, MAAR had IGH absorption rate at 3.1 months.  This would actually indicate a sellers market. 

Find out what's happening in Inver Grove Heightswith free, real-time updates from Patch.

While inventory is down, many home owners are
still in a negative equity position on their home, meaning they owe more than
their home is worth.  This creates the situation where many people are unable to
move since they would be forced to bring money to the table just to get out from
under thier current mortgage.

There are options out there, whether it be renting out your current home, taking the loss at the closing table, or strategic short sales, it's just a matter of what works for each individual.  For further assistance, I'm simply a phone call or email away!  Take care. 

Brian Hurt

RE/MAX Results

651-261-8157

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