2013 is off to an interesting start in the real estate world of Troy Burne Golf Community. After several years of a glut of luxury homes that languished on the market, Becky and I are finally seeing clear evidence of a market recovery. Presently there is only one existing single family home on the market in Troy Burne.
The Average Sale Price of Homes are up in Troy Burne
It is the old supply and demand theory that when supply goes down prices go up and that is the case with Troy Burne in the past year. See side bar graph showing the average sale price jumping 2.1%, up to $501,143 from Feb. 2012 thru Jan. 2013. I think it’s safe to say home prices in Troy Burne are on the rebound after years of prices falling.
Supply of Homes are Significantly down in Troy Burne
A balanced market is when there is between 5 and 6 months supply of homes for sale. The progress made in the past year is stark, as you can see in the graphic side bar titled Troy Burne Month’s Supply of Homes for Sale. After several years of an oversupply, it’s clear the housing market supply pendulum in Troy Burne has gone the other way, bringing us into a seller’s market. Incredibly the Months Supply of Homes in Troy Burne is at its lowest level since 2005 with a 4.4 months’ supply of homes. This is for the period from Feb. 2012 thru Jan. 2013.
New Construction in Troy Burne
With a shortage of viable housing inventory in Troy Burne and the number of empty lots available, buyers should contemplate purchasing a lot and building their dream home. For those buyers there are numerous critical factors to consider:
First, what will your existing home, whether in Wisconsin or Minnesota, sell for in this quickly changing housing market? What will you net at the closing table following closing? How much will your closing costs be on your new home? The Durham Executive Group is uniquely qualified in assessing home property values. We also will provide you with an Estimated Net Sheet to give you an idea of the size of the check you would receive at the closing table so you know how much you would be able to put down on your new home.
Secondly, what is there to know about the Troy Burne Golf Community? Becky and I are residents of Troy Burne and are familiar with golfing and social events within the community. We are knowledgeable of the Association and the covenants and rules/regulations along with the Architectural Review Board and the makeup of who is on the board. We can help you select the perfect lot for your new dream home, assess its value so you don’t over pay, and help you maneuver through the Architectural Review process to ensure you get the home you want.
Finally, a buyer’s agent who represents your interests is critical. It is important to know a builder’s rep is typically a real estate agent who is under contract with the builder and represents the builder’s best interests. An informed buyer knows that by hiring an independent real estate agent who has no affiliation with the builder will be a strong advocate on their behalf to ensure, contractually, that your interests are represented. Builders already have real estate agent’s commissions built into the price of the homes they will build. If you work directly with the builder and/or builder rep, the commission that would have been paid to an independent real estate agent who represents you and works on your behalf now simply goes back to the builder and/or builder rep. It costs you nothing extra to have an agent that you chose representing you. A builder’s legally drafted new construction ‘Offer to Purchase’ can be very confusing for buyers. You will be glad you have a licensed real estate agent working for you.
John Durham is licensed in both WI and MN and has a building construction degree. Both Becky and John are experienced real estate agents who can represent buyers to ensure buyers best interests.
Thinking about selling your home? Becky and I would be happy to provide you with a free market analysis of your home. If you are a buyer, you can trust that we will pull out all the stops to help you find that gem you’ve been searching for, whether in Troy Burne or elsewhere. Check out the videos detailing all their premier real estate services at www.results.net/john.durham
John and Becky Durham are Eastern WI and Minnesota real estate agents with RE/MAX Results and Durham Executive Group.
John Durham - 651-231-2191 firstname.lastname@example.org
Becky Durham - 651-231-2192 email@example.com
* Housing statistics and data provided by John and Becky Durham are based on data available as of February 1, 2013. Data comes from the Regional Multiple Listing Service of Minnesota, Inc. Data deemed reliable but not guaranteed. Powered by 10K Research and Marketing.