Selling Your Home in Minnesota? Partner with the Top Realtor for Maximum Returns

Risks vs. Rewards of Homeownership

So You Want To Buy a Home

Taking the step from renting to homeownership is a life-altering event. Many people consider it the litmus test for adulthood. It is both thrilling and scary at the same time. It should be because not only is owning a home in itself a significant responsibility but it is the most significant purchase the majority of people will make in their lifetime. Owning a home is also a source of pride, of achievement, and for millions, still an essential component of the American Dream.

If owning a home is on your bucket list, perhaps you are waiting for the right time. The question is, how will you know when that is?  There is no stock answer. There are many factors to consider, both pro and con on the subject of buying a home. For many first time home buyers, money is an obstacle. But that isn’t always the case. Nor should the considerations of when to purchase a house be strictly limited to the financial ability to do so.

There are outstanding advantages that come along with owning a home and there are detriments as well. Let’s take a look at how the pros and the cons balance each other. When we evaluate both and can get to the intersection where rewards offset risks, we will have a clearer picture of how we can proceed.

Rewards vs. Risks of Buying a Home

Reward: When you walk away from the closing table with the keys to your new home, you get to make the decisions. The world is open to all the ways you can think of to customize your living space to suit your taste and needs. No more landlord is setting the...

Twin Cities Metro Housing Market Statistics April 2018

The Twin Cities Housing April 2018 Snapshot

I'm not going to lie to you; housing inventory is at a new all-time low. However, we have a reason for optimism as new listing numbers are improving. Let's also keep in mind that the early part of April felt more like January this year, with significant snowfall and low temperatures, which may have held some potential sellers in winter hibernation mode. Still, sellers and builders see a continued strong economy and are encouraged by a market poised to bestow significant financial gains.

For buyers, this market is still certainly challenging. Home values continue to rise while days on the market are fewer. The median sale price for April was $266,000, up 8.6 percent and days on the market fell 10.2 percent compared to April of last year, which drives home that buyers do not have the luxury of dawdling when it comes to offers. Additionally, buyers now have rising interest rates to contend with as well.

Twin Cities Economy and Housing Market is Strong

The factors of steady employment, rising wages, increased consumer spending indicate continued confidence in the economy and a healthy housing market. If this remains true, buying a home will be an attractive investment. Although buyers may have to make adjustments, they should not find rising mortgage rates enough to deter them from purchasing a home.

May looks encouraging, with new listings down only 0.1 percent from the same time last year. From all appearances, it seems like we will enjoy...

Prepare Now To Sell Later

Sell Your Home When The Time Is Right For You

It’s no surprise that many people advocate that the best time to sell a home is in the Spring. Part of the reason this theory has evolved is that families want to be established in their new homes by the beginning of the school year in September. While this does make sense for families with children, when it comes to when to put your home on the market there are no one-size fits all scenarios. 

Even though Spring may be considered prime time for home sales by many in the industry, there is no perfect time for everyone. Every situation is different, and when you are personally ready to sell, that becomes the best season for you. However, there is one piece of home-selling wisdom that is always true no matter what time of year you sell.

Can you guess that one sliver of home-selling wisdom?  It’s the preparation of your home to look its best in winter, spring, summer or fall. Making an outstanding first impression on buyers will determine how quickly you sell and how high a price you obtain. A home that is move-in ready will face a cleaner offer with fewer if any contingencies. Even in this strong seller’s market, we find ourselves in right now, the condition and appearance of your home do matter.

It makes the most sense to take the time to get your home in tip-top shape for the fussiest of fussy buyers. If you think your house is nearly market ready and only needs some decluttering and a deep cleaning that’s great.  If on the other hand, you are a homeowner that knows your family nest could use some feathering, here is a quick list to get you started on your project.

The Kitchen – Deal Maker or Deal Breaker

Updated kitchens are right at the top of the list for potential home buyers. A new kitchen can make your home irresistible. If you have an older kitchen, does that mean you should forge ahead and replace it with a $40,000 renovation? ...

March Twin Cities Housing Market Review

The Twin Cities Housing Market Snapshot

Many consider March to be the kick-off month for the busiest Real Estate season, spring. The market experienced a slight cooling with pending and closed sales both down. Interest rates have climbed and been hovering around 4.5% which is the highest they have been since 2013. Buyers may be taking a breath, and holding back again to re-evaluate and rethink their strategy. They may be considering the options of paying more each month or settling for less house.

Still, days on the market continue to decline, homes are still being sold at asking price or above, and the median sale price up 9.8% over last year. Inventory of homes, however, continues to shrink. Inventory declined 26.1%. Sellers continue to play it coy with new listings also down 17.5%. These numbers seem to indicate that the slowdown in sales is more the result of low supply rather than a lack of enthusiasm on the demand side of the equation.

The good news is that April is looking better in terms of new listings. Although the numbers are still down over last year, they are improving. This is due in part to new construction with builders having more confidence on a good return on their investment.

Let’s take a deeper...