Fargo Real Estate Podcast with Jeremy Qualley

Welcome to our property of the week: 407 Caddy Avenue in Moorhead. Located within a 55-and-older condo association, this beautiful home backs up to hole 10 on the Moorhead Country Club and comes complete with many gorgeous features. Sitting just before the great room, the foyer serves as a perfect introduction to the rest of this great property. Both of these rooms have recently been upgraded with gorgeous laminate plank floors, giving the entire space a cohesive and polished look. Within the great room, you’ll find yourself before a large stone fireplace set between stacked vinyl windows. This stunning feature is the perfect accent to the space, which sits under vaulted ceilings and is overlooked by a lofted area above the foyer. “With heated floors throughout, this home has everything you need including a main-floor master with en suite, solid oak doors, and custom upgrades.” Moving on, the dry bar located in the hall between the kitchen and great room is the perfect feature to marry these spaces. Its custom maple cabinetry is the same as that found elsewhere throughout the home, such as in the kitchen—where you’ll also find a huge two-tier center island and plenty of storage solutions.   With heated floors throughout, this home has everything you need including a main-floor master with en suite, solid oak doors, and custom upgrades. To see everything we’ve mentioned yourself, feel free to watch our full tour in the video above. You can also check out the listing for this property here. Full Home Features: Oak Doors & Trim throughout Heated Floors throughout the main floor except for additional sunroom Vinyl Windows throughout Central Vac New Marathon Water Heater Brand New Upgrade Laminate Flooring Hardwired Back-Up Generator Fully Finished Heated Garage with Hot & Cold Water, Floor Drain & Heated Floors Curb Edging, Patio, Sprinkler System & Gas Hookup for the Grill Backs up to Hole 10 at the Moorhead Country Club HOA of $100 a month, paid quarterly.  Covers Lawn Care, Snow Removal & Exterior Building Insurance If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Now that spring is here and we are moving closer to summer, which market trends do you need to keep an eye on moving forward as a buyer in 2018? The movement of interest rates is an especially important trend right now. One of the biggest questions buyers are asking right now is how much they can afford for their monthly mortgage payment. Interest rates play a big part in answering this question, and though rates have started to increase lately, they are still at historic lows. “The specific rate you get depends on a few different factors.” For the past five weeks or so, the average for a 30-year fixed rate has held steady at right around 4.25%. By the end of the year, this average is expected to climb to nearly 5%. This means if you are a buyer and you have been sitting on the fence, now is the time to get pre-qualified before you start searching for homes. The specific rate you get depends on a few different factors, including which loan program you choose, what your FICO score is, and what your loan-to-value ratio is. If you are curious about how much home you can afford or you have any mortgage questions, feel free to give our preferred lender Mike Mihulka a call at (701) 364-9050. If you’re on the lookout for your dream home, give our team’s buyer specialist Tyler Walker a call at (701) 367-5211. If you have any other real estate questions or needs, please feel free to reach out to our team regardless. We would love to help you.

Over the past nine years in my career with SK Realty, my family, colleagues, and myself have done an amazing job of creating an incredible brokerage that has helped in serving Fargo-Moorhead, and the surrounding areas. Through that time, we have strived to boost our marketing and technology and create lasting relationships with our clients. This is why I’m excited to share a big announcement with you: We have decided to join forces with eXp Realty of North Dakota. This will help us expand our marketing and assist you with all your real estate dreams. “Moving forward, we will be known as Qualley & Associates Powered by eXp Realty.” Moving forward, we will be known as Qualley & Associates Powered by eXp Realty. To all our past and current clients, we thank you for your continued loyalty and support. Just know that you’ll continue to get the great and personable service you always have. This change just means we’ll be able to better help you in your real estate ventures. If you have any questions regarding eXp Realty or would like to chat about what great opportunities you might have, please feel free to reach out any time. We’re here for you.

Today, I sat down with Mike Mihulka, a mortgage lender for Blackridge Bank, and got the opportunity to ask him about who he is, how long he’s been in the business, and what kind of programs he concentrates on. JQ: Mike, how long have you been doing lending in the FM area? MM: I’ve been in the mortgage industry for about 10 years. I’ve been working for Blackridge for about three of them, now. “The North Dakota and Minnesota First-Time Buyer Programs are great for down payment assistance.” JQ: What kinds of programs do you focus on? MM: We deal with all the major programs: conventional, FHA, VA, USDA. We deal with a lot of first-time home buyers, so the North Dakota as well as the Minnesota First-Time Buyer Program, which is great for down payment assistance. We deal with the USDA for rural properties, which is a very popular program. For military personnel, we have our VA program. JQ: That’s great! It sounds like you’ve got plenty of options. If someone wanted to reach you for answers to their mortgage or lending questions, how would they do that? MM: You can reach me here, at Blackridge Bank. My phone number is (701) 364-9064, or you can drop me an email at mike.mihulka@blackridgebank.com. I’d like to thank Mike for joining me today. As always, if you have any real estate questions, just give me a call or send me an email. I would be happy to help you!

Today I have a special guest with me, Lars Knobloch of Nordic Home Inspection. Today, Lars is going to give us a rundown about condensation, what to look out for, and how to prevent issues related to condensation. Lars began doing home inspections in 2009, and since then, he’s done more than 5,000 inspections. He became very passionate about trying to educate the community about owning and maintaining a home. As we see on a daily basis, there’s a big lack of knowledge when it comes to home maintenance and the consequences that come with it. One of the biggest issues Lars sees during this time of year when the temperatures are below zero degrees is condensation. In pretty much any house he goes through, he sees frost build-up on the windows and some exterior surfaces. “The colder it is outside, the dryer it needs to be inside to prevent condensation from forming and freezing.” The problem is the humidity in the home. The colder it is outside, the dryer it needs to be inside to prevent condensation from forming and freezing. There are some things you can do to prevent some of these issues. For one, be sure to use your kitchen and shower exhaust fans when you cook and shower. There are also devices that you can buy that will help control the humidity in your house, like an air exchange system, radon-reduction system, or an environmental mitigation system. What sort of consequences are possible if you don’t take precautions? Well, one of the most common problems is mold build-up on windows and other surfaces, resulting in deterioration and wood rot. You should also avoid trapping condensation against your windows with blinds and curtains. Open your blinds during the day when you’re out at work, and then you can shut them at night. If you have any questions for Lars about issues relating to condensation or other home maintenance topics, you can reach him through his Facebook page or website. You can also give him a call at (701) 556-1446 or email him at lars@nordiccompaniesinc.com. If you have any questions about home inspections or real estate in general, feel free to reach out to me. I’d be happy to help.

We want to wish you a merry Christmas and hope you enjoy everything this holiday season has to offer for you and your family.  We also want to thank you for your continued support for our team. We know that we wouldn’t be where we are today without your help. It’s truly a joy to make your real estate dreams a reality. “We know that we wouldn’t be where we are today without your help.” If you have any questions or there’s anything we can help you with, don’t hesitate to reach out to us. We’d love to help you.  In the meantime, merry Christmas and happy New Year!

Now that we’ve seen the temperatures dip closer to zero degrees and we’ve seen our first snowfall, here are a few items to take into consideration to protect your home from the effects of winter weather if you haven’t already. First, call your local HVAC company to inspect and service your furnace to make sure it’s running at optimal efficiency. If you have electric baseboards, you can also turn them on and make sure all registers are producing heat. If they aren’t, call a local electrician to visit your home and make sure all wires are connected properly. Second, examine all your gutters and make sure they’re clear of all debris or leaves. This will prevent any water blockage once spring arrives. “Take these tips into consideration to prepare your home for winter.” Third, remove the screens from all of your windows. This will allow 30% to 40% more natural light to enter your home, which will give it more solar heat and make it more energy-efficient. Finally, shut off all water valves connected to your outdoor spigots and store away any water hoses. This will prevent any water breaks or leaks your home might incur if anything freezes. This will also spare your hoses from any cracking. If you have any more questions about protecting your home this winter, you’re curious about what’s happening in our West Fargo market, or you’d like a list of  vendors I use on a day-to-day basis, don’t hesitate to give me a call or send me an email. I’d be glad to help you.

A lot of prospective home sellers have been asking me lately if they should list their homes now or wait until spring to do so. Here are three reasons why fall is a great time to sell a home: 1. Competition. You will have much less competition in the fall than in the spring. Most sellers who are still out there are coming to the end of their listing agreements. Once they expire, they will be off the market, likely until spring, and you can take advantage of that. “Expired listings will reduce your competition.” 2. Serious buyers. In Fargo, we only really get three to four months of actual summer. That’s when a lot of people take vacations and get ready for school. By listing now, you can take advantage of those serious homebuyers who need to be in a home by the holiday season. 3. Fall and holiday decorations. With Thanksgiving and Christmas coming up, you have ample opportunity to make your home as attractive as possible to potential buyers. When homes are decorated for the holidays, buyers also tend to become more emotional, which makes them more likely to make an offer. If you have any questions for us or want to learn more about why fall is such a good time to sell your home, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

There are three very important reasons you should always order a home inspection when buying a home. First, a professional inspector may uncover present or potential future issues with the home that a buyer wouldn’t normally find. As the saying goes, “You can’t judge a book by its cover,” and the same logic applies when buying a home. The inspector will go through the home from top to bottom, checking over the electrical and plumbing systems, the furnace, the AC unit, and everything else. They’ll then inform you about anything that needs to be maintained and offer tips to avoid any future issues. “You can’t judge a book by its cover, and neither can you judge a house by its cover either.” Second, your offer is contingent on the home inspection. After you get an inspection done, you have the option to walk away from the deal if you don’t feel comfortable with the results of the inspection. This is one of the only opportunities to back out of the deal without losing your earnest money. Third, you have the option to make any repair requests to the seller after the home inspector gives you the report. In this scenario, you and your agent would sit down and negotiate with the seller and their agent about the inspection’s findings. You and your agent would then decide on which items to look past and which to ask the seller to take care of. You would then negotiate once more to make sure those items get done before you move into your new home. If you’re interested in looking at some properties for sale or you have any other questions about the home buying process, don’t hesitate to give us a call or shoot us an email. We’d love to help you out!

Today I’m joined by our lead buyer specialist, Tyler Walker.  As a lead buyer specialist, Tyler’s job is to negotiate the best price for you. Having been born and raised in West Fargo, he has a wealth of local knowledge. “Tyler’s job is to make buyers happy” It is using this local knowledge combined with his real estate expertise that Tyler helps buyers get into the right house for the best terms. Tyler says his job is to make buyers happy, and that’s exactly what he intends to do. He wants to make sure no buyer overpays for a property, and that the deal goes as smoothly as possible from every angle.  Tyler has been in this role on our team for over a year now, and he’s doing a great job.  If you’d like to hear more from Tyler about what he does or how he can help, feel free to call him at (701) 367-5211. Also, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Today’s appliances have a different lifespan than they did in years past, the reason for which is the fact that, now, they are more high-tech. This makes them more efficient, but also means that they’ll have more expensive issues. In the long run, older units aren’t as efficient, so you might consider replacing them to save on utility costs. The main factors that affect the lifespan of appliances and mechanical systems are the brand of the product(s), the wear and tear, the complexity of repairs that become necessary, and the age of the unit itself. Most appliances typically have a one- to five-year warranty, and once you get to that period, you’ll want to consider the life expectancy. “The main factors that affect the lifespan of appliances and mechanical systems are the brand of the product(s), the wear and tear, and the complexity of repairs.” One of the most important system in your home is your HVAC systems (heating, ventilation, and air conditioning). These systems last anywhere from 10 to 30 years past the warranty. Your AC unit can last eight to 15 years. Another important appliance for any home, the refrigerator, has a lifespan between seven and 13 years. Electric and gas stoves, as well as your water heater, often last eight to 15 years. If there is another home appliance or system that we didn’t mention here, or if you have any question you’d like us to answer, please feel free to give us a call or send us an email. We also have a list of preferred lenders that we’d be happy to send to you. Hope you have a great day!

If your home didn’t sell the first time you listed it, you certainly aren’t alone.  When you’ve been on the market for months and activity has completely stalled, it’s common to wonder what you’re supposed to do next. The truth is that if your home simply didn’t move off the market, it was probably because of one of these three reasons. “If your home didn’t sell, it was probably because of one of these three reasons.” Condition. When listing your home, the first thing you need to take care of is curb appeal. Curb appeal is a critical first impression and will make a massive impact on a buyer’s opinion of your home. Taking care of landscaping and other exterior maintenance items will immediately make a difference in your home’s appearance. The interior of your home is important as well. Make sure that rooms are decluttered before buyers enter to the property. Additionally, make sure that you’ve strategically staged your home. We can give you advice from experience and can recommend you to professionals who can help. The marketing. In today’s modern market, 95% of buyers begin the search for their next home online. Your agent must be able to help you create a strong online presence for your property in order to draw in interested buyers. Using professional photography will also make a huge difference. You need to make sure your property is being featured properly and is being presented in the best light. Pricing. This last step is actually among the most important. A home that isn’t priced correctly will face massive difficulty in selling. Your Realtor must be knowledgeable, experienced in your area, and able to assist you with pricing your home competitively. Setting a price too high can ultimately cause you to lose out on a ton of qualified buyers.  On our team, we have a wealth of knowledge and experience at our disposal. We have the right skills and information to price your home competitively, market it well, and guide you through the listing process.  If you’re curious about what my team and I can do for you, have any other questions, or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The big question we’ve been getting recently about the real estate market is whether we are in a buyer’s or seller’s market. We’re going to cover all the numbers and trends today to show you exactly where we are at. As of the end of July, we saw 290 new homes come on the market—with 130 of them being new construction homes. This is good news because it means there are still plenty of options available. “With 4.5 months of inventory, we are in a seller’s market.” We measure our inventory levels through the absorption rate. It’s a measure of how long it would take every home on the market to sell if no new homes came on the market. Right now, we’re at about 4.5 months of inventory. Anything under six months is considered a seller’s market. That’s what we’re in right now. As far as buyers are concerned, know that interest rates are still strong and are hovering around 3.75% to 4% depending on the route you’re going. You should act soon, though, if you’ve been thinking of making a move. We’re starting to see the market shift a little bit. If you have any questions for us about the West Fargo real estate market or anything else about real estate, we would be happy to help. Just give us a call or send us an email.