Realtor Jared Jacobs – Rochester MN Real Estate Blog

Two open houses this weekend in Rochester MN!

2002 Baihly Hills Dr SW, Rochester $279,900. Home features 4 bedrooms, 4 baths, spectacular master suite, large kitchen, open floorplan and much more! 11-12:30 Saturday Sept 25. Listing #4024166

3006 Venice LN NW, Rochester. Open this Saturday from 1-2:30 pm. Priced to sell at 149,999! Awesome 3 bedroom townhome with newly finished lower level! MLS #4014501

The owners of 2002 Baihly Hills Dr SW Rochester have reduced their asking price from $299,900 to $279,900.

This is the 2 story home you’ve been looking for! 4 bdr on one level, 4 bath, master suite featuring vaulted ceiling and arched window, walk in closet, awesome master bath, hardwood floors, deck, spacious kitchen, main floor laundry, large den/office on main level, wood burning fireplace, workshop and loads of storage in lower level, freshly landscaped yard, over 4,000 sq ft of living space!

Priced at $299,900 this is the property you’ve been looking for!

Call realtor Jared Jacobs of Counselor Realty of Rochester for your private tour today (507) 421-6845!

Second Quarter Home Sales
Second quarter sales of single family homes in Rochester were
$109,065,877. This represents a decrease of one percent
($110,126,759) over second quarter 2009 and a 22 percent
($133,200,435) decrease over second quarter 2008.
The average home in Rochester sold for $175,347 during the second
quarter of 2009 and the median sale price was $151,250. There
were 622 units sold during the second quarter. The average time on
the market was 111 days.
Source: SE Minnesota Association of Realtors

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today!

Counselor Realty of Rochester is hosting a breast cancer awareness fundraiser at the Wicked Moose Bar & Grill in Rochester MN this coming Thursday Aug 12th from 5-11pm. Entertainment will be provided by the popular band “Incognito” from 8-11.

Gift bags will be given to the first 100 men and 100 women. There will several silent auction items available to bid on and burger and chicken baskets will be available to purchase. No cover charge – free will donations taken at the door.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today!

Rochester MN real estate market stats for the end of July from our area MLS.

The absorption rate at the end of July was 8.56 months of inventory. We had 1219 active listings available at the end of July with 165 properties being added during the month. 86 listings sold in July.

The active median list price was just under $170k. The sold median list price was just under $160k. The sold median sale price was just under $159k. The new median list price was just under $155k. The average days on market for sold properties was 108 days.
Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.

If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today!

Should you wait until the market rebounds to sell your home? And yet, some potential sellers wonder if they’re better off waiting to sell until the market recovers. It really depends upon your ultimate goals of course, but if you’re at a stage where you need a larger home, then read on.
This is one of the best move-up markets EVER! Let’s talk more about that. What makes it so?
Low, low prices! Very few areas of the country have been immune to the decline in values. And for many areas (especially those with the first and steepest declines), have stabilized and even ticked up slightly during the spring selling season while anxious buyers worked to comply with the First Time Home Buyer’s credit.
Low, low interest rates! There was rumor that interest rates would tick back up after the first quarter of the year, and that has not come about. Instead, we’ve seen rates dip, to unbelievable levels.
Higher basis when we again see appreciation. Most of the country has faced market depreciation over the last few years. When we see market appreciation again the appreciable base in a more expensive home will be larger than that of a less expensive home. Example: a market that appreciates 2%, a home valued at $400,000 will see an $8,000 gain in value versus a $4,000 gain in value for a home with a basis of $200,000.
Do the math. Low prices and low interest rates in turn bring lower rates on insurance premiums and lower property taxes. When those variables are combined, you have two possible outcomes – either a lower total monthly mortgage payment, or more buying power.
So let’s say that in your location, home prices have declined an average of 25% over the past several years. Back then your house would have been worth $400,000. Let’s use a factor of 7.5% just for example’s sake for commissions plus other costs of selling. And on the purchase side, we’ll use a 2% factor for closing costs.
Your Current Home Then Your Home Value Now
$400,000 $300,000
-30,000 less costs to sell -22,500 less costs to sell
370,000 net proceeds 277,500 net proceeds
Your Move-Up Home Then Your Move-Up Home Now
$800000 $600,000
16,000 closing costs 12,000 closing costs
816,000 total cost then 612,000total costs now
The two columns below really illustrate the power of the spread. This is the difference between what the cost of selling and purchasing was at the market peak, compared to what it could be now. The spread really works in your favor in this type of market.
Your Net Then Your Net Now
$816,000 move-up sales price then $612,000 move-up sales price now
370,000 cash from sale of home 277,500 cash from sale of home
446000 net cost of move-up home then 344,500 net cost of move-up home now
THE SPREAD
$446,000 net cost of move-up home then
344,500 net cost of move-up home now
101,500 less today
That larger house cost you $101,500 less today than it would have before. Not only that, but the cost of owning that home is less over time, considering you can lock in a 30-year fixed rate loan at exceptionally low rates and count on that payment staying at an affordable level. And an added bonus? You’re paying property taxes bases on that lower rate. So if you’re toying with the idea of a larger home, maybe it’s time to run the numbers. Arming yourself with what-if scenarios can help you map out your future, and lay a plan out for success.
Working with a professional Realtor in Rochester MN is the one of the most beneficial steps you can take on your journey towards finding a new home, or selling your old home. A local Realtor can also help you search the Rochester MN MLS.
If you would like to explore the possibilities of purchasing Rochester MN real estate, contact us at (507) 421-6845 or email us at info@soldbyjaredjacobs.com today!

This 4 bedroom 3 bath home backs up to a large park and is a must see at $199,900! Home features large deck, gas fireplace, spacious floor plan and much more.

Open House this Saturday (7/24) from 10am – 11:30!
Rochester MN MLS #4016974
Check out www.soldbyjaredjacobs.com “featured listings” for pictures of this great property!

Rochester had 1,250 active listings at the end of June. 241 properties sold in June. 180 new listings were added in June. Average days on market for a sold property was 97 days in June. The absorption rate is sitting at roughly 8.67 months worth of inventory.

This data was taken from our local MLS.

Fantastic investment opportunity with this fully occupied 6 plex located near Mayo Clinic and St Mary’s in beautiful downtown Rochester MN! Please contact Jared Jacobs, CRS with Counselor Realty of Rochester at (507) 421-6845 for more details and your tour today!