Selling Your Eden Prairie Home Today

If you are selling a home in Eden Prairie today you will find it can be quite a challenge, especially considering that nearly half of the competitive listings are short sales or foreclosures. Home values have been coming down in part because of the low listing prices offered by banks who need to reduce their real estate owned inventory. About half of the sales in today's market has come from traditional home sellers. Are you in the search for help to sell your home listing in Eden Prairie?

 

Benefits of Using A Realtor To Sell Your Eden Prairie Home

Perhaps it has never been more important to use a Eden Prairie real estate agent who understands the recent trends in Eden Prairie market values. When we come out and visit your property to complete a Competitive Market Analysis (CMA), we will compare all of the features and benefits of your property to the competing homes for sale in the area. We need to look at all of the houses that have sold within recent months to analyze what the actual sales prices have been. In so doing we can estimate what type of price a home buyer might pay for your home listing within a reasonable period of time on the market.

The challenge for many sellers today is trying to get enough for their home to pay off the existing mortgages on their home. If a property seller owes more on their home loans than what we can sell it for we will either need to discuss paying down the mortgage, going through the process of a short sale, or listing the current house for rent and in order to move to another one. With the quickly rising rents in today's market, sellers are quite often finding that they can cover all of the resulting expenses for the house through their renter's income.

Lenders have guidelines for the Eden Prairie sellers who will rent out their home to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.

Get preapproved before listing your home for sale

Once we meet to discuss the value of your old home it is critical that you go through the process of getting prequalified for a home loan. Your mortgage lender can help you decide which of the options are best whether selling or renting out your current home. The process of preapproval is generally free and contains no loan obligation. A good mortgage banker will be able to analyze all of the options available to you such as MN FHA loans, Conventional, VA, or other types of mortgage loans.

Eden Prairie City Info

Located just twelve miles southwest of Minneapolis, Eden Prairie is a popular commuter city to the Twin Cities. Growing now to over 60,000 residents, the city has more than tripled in size over the last 30 years. In addition to Minneapolis employment, Eden Prairie has businesses such as Digital River and CH Robinson which are headquartered here. Eden Prairie has been listed in Money Magazines "Best Places to Live" in America over the past 5 years. With historical low interest rates and plenty of affordable housing, this is a popular place for MN first time homebuyers and move up buyers alike. If you are considering buying a home in Eden Prairie please give me a call.

Are You Ready To Talk?

If you want to learn more about selling your Eden Prairie home call me. I will work with you to complete a market analysis of your home for free. We will discuss your options available in the market today. Feel free to send me an email or call me.


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale