Community Corner
SOLD! Sales Slow Down Last Week in February
Just one Richfield home changes hands the last week of February 2011.
Only one Richfield home closed during the last full week of February reflecting the sluggish mid-winter market.
The slowest time for real estate sales in Minnesota is typically between Thanksgiving and the Super Bowl. Homes usually close between 30 and 45 days after the purchase agreements are finalized; foreclosures can take longer and short sales can take much longer.
The home at 7229 3rd Ave. S. closed on Feb. 24, but was taken off the market on Jan. 14. The time difference allows title companies to review the paperwork, make sure the title to the house was clear and work with the mortgage lenders.
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While just one was sold last week, more than a dozen others closed throughout the month; a great sign for Richfield.
The details for the home SOLD! last week are:
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1) 7229 3rd Ave. S.
Re/Max Results
3-bedroom, 2-bath
Days on Market: 68
Original List Price: $189,900
New List Price: $179,900
Sold Price: $178,000
Seller Contribution: $5,340
Check back every Friday for more SOLD! and don't forget about Thursday's House Hunt.
Stephanie Fox is a licensed real estate agent with Coldwell Banker Burnet.