St. Cloud Real Estate Podcast with Chris Hauck

Here’s what you need to know about computer-generated pricing and why you simply can’t beat having boots on the ground. We’ll typically do three to six market valuations per week, helping people with pricing by looking at past sales and current listings. Our computer pulls up estimates from Zillow and a few other services on every single property we look at. Not only can we see what a particular property was listed and ultimately sold for, but it also shows us what Zillow estimated the value to be. “Zillow’s algorithm has no clue whether you have brand-new granite countertops, or if your feet stick to the carpet.” Zillow is a company well-equipped to handle very big data; if you take 10,000 houses and their computer crunches the numbers, their average price will be right on the money. However, their computer doesn’t know a specific house’s value accurately.  Zillow’s algorithm has no clue whether you have brand-new granite countertops, or if your feet stick to the carpet. This leads to a rather large variation—the estimate is 15% to 20% above or below market value.  In essence, computer-generated pricing, like the model made popular by Zillow, gives you a sort of dartboard pricing from which to work. It’s a start, but it’s simply not as accurate as a real estate agent who’s going through 50 to 60 properties a week and can truly understand the value of your property—updates, remodels, condition, etc.  If you have any questions about this or any other topic, please don’t hesitate to reach out. We’d love to hear from you.

The coronavirus has wrapped the globe in uncertainty, but the real estate business is continuing despite the fact. Here’s what you need to know. Even amidst uncertainty with the coronavirus pandemic taking over our daily lives, the real estate market is still providing opportunities to people out there. There were 1,734 pending sales in the last seven days that were driven by opportunity buyers taking advantage of low interest rates. If you are taking time to pause your real estate tasks, we absolutely respect that. However, if you are looking to buy or sell a home, we are taking steps to ensure that the process remains safe and professional. If you have any questions, feel free to reach out to us by phone or email.

We have been getting a lot of questions about virtual tours. Here’s my opinion on them. A lot of people want to know whether virtual tours are as effective as open houses. I’m here to answer that question today. Over the years, even before the internet existed, open houses typically generated anywhere from 2% to 3% of sales. It’s not the ideal way to sell, but it was a great way to expose a property to the market. Many times, there are people out looking casually, or out for decorating ideas instead of an actual home to buy. With the advent of the internet, we’ve gained tools to improve this process. Virtual tours allow people to “walk through” the house online. Instead of having an open house for a few hours on a Sunday, these virtual tours can be accessed any time at any place. “Virtual tours allow buyers to walk through a home 24/7.” Virtual tours do two things for sellers: 1. They give us a chance to present the house in its best light. 2. They help us eliminate buyers who aren’t a good fit for the property. If you’d like to learn more information about open houses or virtual tours and how we use them, don’t hesitate to reach out and give us a call or send an email. We look forward to hearing from you soon.

What’s changed and what’s stayed the same in the real estate industry over the years? Here are a couple of examples. My team and I recently attended a Mike Ferry conference with 4,000 of the other top agents in the country. None of us compete head to head, so this conference is a wonderful opportunity to share ideas, techniques, etc. One of the more interesting topics that came up during this conference was how much things have changed in real estate, but at the same time, stayed the same.  Some of the advertising, for example, is the same, and person-to-person interaction is still extremely important. Our job is to help you make the right decision and get the information you need so your home sale and/or home purchase goes smoothly. “The bottom line is, we’re here to help you do the right thing for your family.” One of the things that has changed is the delivery of information, which is wonderful. We can get you far more information about homes much more quickly, and you can see a lot more about the properties you want to look at. Years ago, for about half of the homes we walked into, buyers only needed about two steps to know that the home wasn’t right for them. With virtual tours now available, buyers can weed out the homes that don’t fit and focus on the ones they like best.  The bottom line is, we’re here to help you do the right thing for your family. If you have any specific real estate needs, don’t hesitate to reach out to me. I’d love to speak with you.

How do we keep up to date in the real estate market? Today I’m discussing the yearly conference I attend to do just that. One question that has come up a lot lately is how I stay up to date on what’s happening in the market. We’re continually exploring ways to keep improving, changing, and updating with new trends and technology.  Next week I’ll be in San Diego for three days for a conference with a business coach I’ve worked with for 32 years. In that meeting there will be approximately 2,500 real estate agents from all over the U.S. Everyone is sharp, they do a wonderful job, and none of us are direct competitors. When we get together to talk, everyone’s willing to share almost everything they do with each other. We compare notes and best practices. “How do I keep up to date? By attending a yearly conference with other agents focused on breaking down new trends and technology.” This year, we’ll be discussing the new uses of video tours, growing photography practices, response systems, customer service, and a variety of other great topics. We talk about old technology (direct contact with you) and new technology, which streamlines the process. This yearly meeting is very exciting, and it allows us to continue improving the services we provide you.  If you have any questions concerning real estate, please reach out to us via phone or email. We would love to help you.

I’m bringing your 2020 real estate market update, which should benefit both buyers and sellers. Happy New Year! We are starting out with what looks like a great year in the real estate market. We currently have close to record low interest rates and a relatively low inventory of homes for sale.  From a seller’s perspective, you’ll be able to get an excellent price and a good negotiating position. Sales should be relatively short and houses should sell a bit quicker, at least in the early part of the year. Last year, we started with about 698 homes on the market. This year, we have 504 homes, so it’s a wonderful year to be a seller. If you’re looking to sell, it is not too early to start the process.  The spring market generally begins January 2, though many sellers don’t believe anything sells until March or April. The exciting news is that buyers are in the market already. Beat the March rush!  “If you’re looking to sell, it is not too early to start the process.” From the buyer’s perspective, this year’s rates are lower than last January. If you were buying a $300,000 house last year, you could buy a $360,000 house this year with the same payment! If you’re thinking about making a move, it’s an exceptional year to do so. Interest rates are excellent.  If you have further questions about our current market, please reach out to me by phone or email. I look forward to speaking with you soon.

The holidays can be a great time to buy or sell a home. Here’s why. Are the holidays a good time for you to buy or sell a home? Actually, they are, and for a few different reasons. If you’re looking to purchase a property, you’ll have less competition from other buyers. That also means that you’ll see fewer multiple-offer situations on homes. Further, interest rates are outstandingly low right now, lenders are more readily available than in other seasons of the year, and title companies have more time to dedicate to your transaction. All in all, home purchases this time of year tend to be less hectic than they will once the spring market begins in March, April, and May. If you’re thinking of selling a property, there’s a prime reason that the holidays are a good time to list. Many buyers who view properties in the spring market are looking for homes, but not seriously. On the other hand, buyers in the wintertime tend to be people who are really focused on buying a property and moving into it as soon as possible. Additionally, the holidays are a great time to capitalize on the warmth and emotion of having a home; there’s nothing like seeing a beautiful home decorated for the holidays. “All in all, it’s a good time to both buy and sell.” If you’re thinking about selling after the holidays, it’s worth noting that, for some reason, a lot of sellers don’t believe that anything will sell on the market until about April. That means that we’ll have the lowest inventory of the year until early March. You may get fewer showings, but the showings you get will be high quality. All in all, it’s a good time to both buy and sell. We have a decent selection of properties on the market, great interest rates, and if you need to take the house off the market for a day or two to enjoy a family get-together, that’s certainly acceptable over the holidays. If you have any questions about buying or selling a home, reach out to us. We’d love to help you. Until then, have a wonderful holiday season! 

What are you thankful for this Thanksgiving? At Coldwell Banker Burnett, we’re thankful for you. Thanksgiving is upon us, which means now is the perfect time to reflect and give thanks—and I and all of my team members at Coldwell Banker Burnett have a lot to be grateful for. We’re thankful for this year’s success, our families, and, of course, we’re extremely thankful for all of you. Many of you have been loyal to us for a long time, including one particular family who recently referred their 34th relative to our team for help with their real estate goals. This kind of continued support is exactly why my team and I do what we do. It has been a privilege serving each one of you. We wouldn’t be where we are today without you. With that said, we hope you all have a very happy Thanksgiving and an incredible holiday season. If you have any questions or would like more information about any particular real estate topic, feel free to give us a call or send us an email. We look forward to hearing from you soon.

The year is nearly over, but the St. Cloud market remains strong. We’re still seeing quite a few sales for this time of year. As we head toward the end of the year, things are going really well in the St. Cloud real estate market. Interest rates are near record lows, sales are strong, and inventory is steady. We currently have about 725 homes on the market with 265 sales pending. Those are very good numbers for this time of year. It’s still time to buy a home for the holidays, and it’s a great time to start getting your home ready for sale because the spring market starts on January 2. If you have any other real estate questions, don’t hesitate to reach out to me. I look forward to hearing from you.

Interest rates are falling, which means now is a great time to buy. Falling interest rates is a trend that sounds wonderful, but what does this really mean for you? Does it make that big of a difference if you’re a homebuyer? Actually, yes.  Interest rates are under 4% right now. Back in January of this year, they were hovering between 4.5% to 4.75%. This means you can currently buy a house worth $360,000 to $370,000 for the same exact mortgage payment that would’ve only gotten you a $300,000 house back in January. “It’s a great time to buy, and we have a great selection of homes in our market that I’d love to show you.” Alternatively, if you were thinking of buying in the $250,000 to $300,000 price range back in January, your mortgage payment would be lower if you bought a house now in that same price range. You can also shorten your mortgage repayment period to 20 years and it wouldn’t make that much of a difference between what you would’ve paid in January.  In other words, it’s a great time to buy, and we have a great selection of homes in our market that I’d love to show you. If you’d like to start your home buying journey or you have any other real estate questions, don’t hesitate to reach out to me. I look forward to hearing from you.

It’s fall here in St. Cloud, but our real estate market remains hot. Here are the latest numbers. Now that summer is behind us, it’s back-to-school time. Since the fall has arrived, I wanted to bring you a quick update on the St. Cloud real estate market. I have some really great news. For starters, we’ve had 1,747 sales over the last six months. Those are really strong numbers for our area. These numbers are especially strong for homes under $200,000. We currently have 316 pending sales, indicating that sales are moving along strongly. This is in part a result of interest rates dropping back down to historic lows. “Our sales numbers remain strong.” Right now, we have just 795 homes on the market. Although it keeps us in a seller’s market, there is still a good selection of homes available. I predict this strong fall market to continue through late October before slowing down during the holiday season and picking up again in January. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Interest rates are as low as they’ve been in a while, and that’s good news whether you’re a buyer or seller. Today I’m happy to deliver some exciting news: Interest rates have dropped significantly once again, putting them below the 4% mark! What does this mean for you and your goals? Well, as rates continue to decrease, buyers have the opportunity to enjoy increased purchasing power, a shorter repayment period, or a smaller mortgage payment. Furthermore, inventory is up. We currently have over 800 homes on the market, compared to earlier this year when we had less than 650 homes for sale. Buyers aren’t the only ones with opportunities before them, though: We have 341 pending sales in our market, which means conditions are friendly for sellers as well. Given all this good news, why wait any longer to make a move? If you’re looking to make a move and save a significant amount of money on your mortgage over the life of your loan, now’s an excellent time to do so. If you have any questions or would like more information, feel free to get in touch with us. I look forward to hearing from you!  

How do appraisals and online home valuations work? Today I’ll answer these questions for you. When it comes to determining home values, how do appraisals work? What about online valuation systems?  Most home sales involve an appraisal. If the buyer is using financing to buy the property, their lender is usually required to get an appraisal. An appraiser’s job is to look at the property and decide if it meets the minimum standard for the mortgage. Most homes these days won’t have a problem meeting that standard.  Next, they’ll determine whether the value of the home is appropriate, and they’ll use recent comparable home sales in the area as a measuring stick. To a certain degree, the rest depends on the opinion of the appraiser, and opinions can vary from person to person.  If the house appraises for less than the purchase price, the buyer still has the option of buying it—the lender doesn’t really care what they pay for it. For example, if a home appraises for $5,000 less than what the buyer agreed to pay for it, they’ll just have to come up with the additional $5,000 to close the transaction. “If the buyer is using financing to buy the property, their lender is usually required to get an appraisal.” In a tight market like ours, homes are increasing in value, and as a result, we’re seeing more and more multiple-offer situations. Because of this, buyers are putting more money down in order to secure the purchase of their property.  A lot of online real estate companies like Zillow feature their own computerized home valuation system. These systems are fairly accurate in terms of big data, but when it comes to single properties, they have certain limitations. They can measure things like square footage and compare this to other homes in the area, but a computer doesn’t know anything about what’s inside the house.  That’s why, when we agents determine what a home will sell for, we rely both on the statistical data and the feed on the street (i.e., the home’s condition and how it compares to recently sold homes).  If you’d like to know what your home is worth or you want to know more about this topic, don’t hesitate to reach out to me. I’d be happy to help you.

The newest numbers for our market are in, but what’s changed? Stay tuned to find out. I’m back again with the latest update on our St. Cloud market. Taking stock of our spring market first, we saw an overall strong performance. Hopefully, that momentum will keep up. Let’s jump right in:  All told, 1,137 homes have sold over the last six months, which is nearly the same as our number of sales at this time last year.  449 sales are currently pending in our market. Just a few weeks ago, that number was at 420, which is telling of how well homes are selling right now.  Better still for buyers, inventory is also up: We have 725 properties currently waiting to be bought on our market. Contrast that with last month where we had just 620. More inventory means more choices for buyers shopping for their new home. “Whether you’re looking to buy or sell in our market, this is the year to do so.” Next, we have a three-month supply of inventory—a number that’s comparatively low. Interestingly, though, more properties have been listed this year than last year, but homes that have been selling this year are selling faster than those in 2018.   What does all of this mean for you?  Well, whether you’re looking to buy or sell in our market, this is the year to do so.  Given our current conditions, sellers will enjoy a quick sale and plenty of predictability.   By the same token, buyers will enjoy a wider selection of homes and, best of all, interest rates are in the 4%, and sometimes even sub-4%, range on a 30-year fixed-rate loan. Not to mention that you can shop outside the confines of loans that require 20% down. We have programs that will allow you to make anywhere from a 0% to 5% down payment.  If you have any questions related to real estate or you’d like to talk about your options, please let us know. We look forward to speaking with you soon! 

As a buyer, what are some ways that you can incentivize the seller to take a closer look at your offer amid multiple offers? Find out in today’s video. Last week, we talked about our current market’s multiple-offer environment through the lens of a seller. You can check that video out here if you missed it. Today’s topic is still centered around the frequent multiple-offer situations we’ve been seeing in our market, but this time we’ll shift our focus to the buyers’ side. As a buyer, the price range you’re looking in will have a lot to do with the level of competition you face during your search.  If you’re looking at a home that’s priced below $200,000 and in tiptop condition, chances are that you’ll be up against other buyers. The same is likely true of well-kempt homes within the $200,000 to $300,000 price range. “Demonstrating that you’ve come well-prepared carries a lot of weight with the seller.” Knowing all of this, you’re probably wondering: What can I do, then, to make my offer stand out and gain the upper hand on the competition?  A large part of it is being prepared before you step into the market. This means obtaining a pre-approval letter from your lender. There are even cases where your lender will offer full underwriting for you, so the last remaining piece is approval of the house. Demonstrating that you’ve come well-prepared carries a lot of weight with the seller.  Another point of interest is the inspection period. Although I’d never encourage a buyer to forgo an inspection if they felt it was necessary, there are certain instances that allow us to eliminate the inspection contingency. Lifting this contingency will tend to catch most sellers’ attention. However, if you’re going to sleep better at night knowing the inspection contingency is in place, I’d leave that alone. It’ll also serve you well, as a buyer, to have some flexibility with closing dates. Sometimes the seller needs to close quickly, and others need extra time before they’re ready. Whichever your seller is looking for, it’d be to your benefit to make this concession. Your agent can relay your willingness to be flexible to the seller and their agent.  These aren’t the only things you can do make the purchasing process easier for you—especially in a multiple-offer situation. For more tips or if you have any questions, please give us a call. We’d be happy to talk with you and see you next time!

In today’s market, inventory continues to be low, but the same isn’t true for buyer demand. In the here and now, our market’s inventory is in shorter supply, which is creating the occasional multiple-offer situation. Two questions, in particular, have come about as a result: What should buyers do with the current state of play? And how does it impact sellers?  Today’s focus will be on these market developments as it concerns sellers.  More than ever, we’re seeing time frames condense considerably. Consider the recent history of our market: Just five years ago, buyers would make the assumption that there was something wrong with a home that spent a year on the market.  Some time passed, and we saw that window dwindle even further—buyers made that same assumption three years when a home sat on the market for six months.  “If you’re a seller with multiple offers pouring in, you’ll want to be sure to review each and every proposal and the considerations they contain.” Fast forward to today—60 days gone by, and it raises questions in a buyer’s mind about the quality of the home. The reason for this is that buyers and sellers learn to adapt to the evolution of the market.  This time of year, we’re getting homes sold in a time frame of a week or even just a few days. We’re noticing that buyers are actively searching with such immediacy that they’re viewing properties the moment they’re marketed online and then scheduling appointments to see properties they like just as quickly.  If you’re a seller with multiple offers pouring in, you’ll want to be sure to review each and every proposal and the considerations they contain. Chief among them will be price, but you’ll also want to look closely at the other considerations.  You’ll want to figure in factors like:  Do they have a house to sell?  Do they have a house to close?  How much of a down payment are they offering?  What kind of financing will they be getting?  Other factors might include closing time, possession date, personal property that’ll be staying in the property, etc. Sellers have more options before them today than they previously would have—especially below the $300,000 price point.  If you’re interested in more information on how to handle multiple offers as a seller, feel free to give me a call. We bring a lot of experience to the table, and you can be sure we’ll do it competently and carefully. Stay tuned for our next video where we’ll talk about this same topic through the eyes of a buyer. We’ll talk to you soon!

There’s no shortage of opportunities for buyers or sellers in our spring market. Today’s market update will tell you all you need to know. Take one glance out the window and you’ll see that, at last, spring is here! That also means we’ve entered our spring market, which has been buzzing with activity over the last two months.     Let’s look at how our market is performing this spring:  Right now, we have 349 pending sales—even by spring’s standards, this is great news. Our inventory has crept up lately to about 660 homes, so buyers have a range of options at the present time. “2019’s market is full of opportunity, whatever your real estate goals may be.” If you’re looking to sell this spring, market conditions bode very well for you, because we’d ordinarily have about 1,000 homes on the market at this time.  The numbers are somewhat distorted in that our total for new listings taken isn’t much different than last year, but these listings are selling quicker. All in all, the 2019 market is full of opportunity, whatever your real estate goals may be—there is ample selection for buyers, and the market is in a predictable state for sellers.  Something else of note: Interest rates have gone through a recent drop as well. It wasn’t all that long ago when they were bumping up against 5%, and they’re now in the low 4’s.  If you have any questions about our market or you have suggestions for future video topics, please feel free to give us a call. I hope to hear from you soon! 

Here’s a brief update on the current state of our real estate market. The spring market is officially here! In light of the new season, we’re noticing that homes are selling well and that inventory is increasing gradually. It’s a great year to be a seller.  Inventory is still relatively tight, so if you’re shopping for a house in this market, you’ll need to act fairly quickly—homes aren’t staying on the market for long. Additionally, the National Association of Realtors came out with a few interesting statistics about what the market is doing today that I’d like to share with you: “The focus of millennial homebuyers is less on buying homes for investment purposes and more on buying them as a place to raise a family.” 1. Homeownership rates are on the rise. This is interesting because before the 2004 recession, about 69% of homes were owner-occupied; that figure dropped down to about 62% between 2012 and 2014. In 2018, it rose up to 64.5%, which is a solid sign that more people are pursuing homeownership. 2. First-time homebuyers constitute 33% of home sales. Millennials are getting to the age where they’re thinking of purchasing homes and have begun to take up a good portion of the market. Their focus, however, is less on buying homes for investment purposes and more on buying them as a place to raise a family. 3. Married couples comprise about 63% of homebuyers.  4. 18% of sales come from single women. 5. 9% of home sales come from single men. 6. 8% of home sales come from unmarried couples who are buying a home together. Overall, we’re seeing a good, strong recovery in the market, and families are setting some outstanding goals and objectives for the future. If you’re thinking of selling a home this year, know that the market is ripe for sellers and we’d love to help you. Just reach out to us, and we can help you sell your home quickly and for top dollar. We hope to hear from you soon!

Will a new construction home break the bank? Find out in today’s message. Many people are enjoying new construction homes in today’s market. There’s a great selection of lots and land available for building sites, but some potential buyers are concerned that it’s more expensive to build a new home than buy a pre-existing one.  Let’s say we’re looking at a 3,500-square-foot house with five bedrooms, three bathrooms, and a triple garage. If it’s 15 years old, it’ll sell for somewhere between $95 and $105 per square foot. This equates to a total price of around $350,000.  Because of the recession, we had nearly no new construction in St. Cloud from 2006 to 2011. Homes built after the recession are selling for $125 per square foot up to $160 per square foot. “By building new, you have the luxury of choosing your preferred designs, styles, and decor.” If you want to build a new home now, patio homes are selling for between $150 to $170 per square foot. If you’re looking to build a traditional two-story home, pricing will be between $175 and $225 per square foot. Upgrades and add-ons can boost the price quickly. The difference between a new home and a 15- to 20-year-old home is about $150,000. If you’re looking at a home built shortly after the recession, it’s closer to a $50,000 to $80,000 difference. However, by building new, you have the luxury of choosing your preferred designs, styles, and decor, and everything is brand new—you won’t have to repair anything for quite a few years. Whether you’d like to buy an old home or construct your own, we’d be more than happy to answer any questions you may have. We look forward to hearing from you soon.

Our spring market has already arrived, despite the fact that winter isn’t yet behind us. If you’re curious what this means for you, check out today’s message. Though spring is yet to arrive, our spring market is already in full effect.  With that said, there are a few stand-out developments buyers and sellers should keep in mind moving forward.  1,199 homes have sold in the last six months, which, historically, indicates a very strong market.  Another interesting development is the year-over-year decline in inventory. At this time last year, there were about 700 homes on the market. Right now, there are just 571 listings available. It’s clear to see that inventory is tight. “Buyers and sellers alike have a lot of opportunities before them, so don’t delay in making your real estate goals a reality.” New listings are still coming in at a similar rate as last year, but increased demand means that these homes are selling fairly quickly.  As a final note, buyers will be excited to know that interest rates have dropped once again. This is a temporary development, but one that makes now an ideal time to make a move.  Buyers and sellers alike have a lot of opportunities before them, so don’t delay in making your real estate goals a reality.  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.

Do national real estate headlines reflect what’s happening in our area? Not really, and today I’d like to explain why. If you’ve been paying attention to real estate headlines lately, you might have noticed that they’ve gotten somewhat extreme. What you should realize, however, is that many of the national headlines don’t reflect what’s happening in our local St. Cloud real estate market.  To put things into perspective, I’d like to share something I heard from a friend of mine who works in Seattle—one of our nation’s hottest markets. After hearing so much about the market slowdown that’s apparently occurring there, I decided to ask him if it’s really as dramatic as the statistics make it sound.  According to him, the rumors are true: There has been a significant change. But before you panic, let me explain. He told me that local listings used to receive up to 12 offers in 12 hours, and are now lucky to receive a couple offers a day.  When you realize that this supposed slowdown still means a given listing could receive as many as two offers in a single day, it becomes clear that the issue has been blown out of proportion. The slowdowns happening across markets nationwide are relative to their current activity, and they aren’t nearly as severe as the headlines make them seem. “Our market is stable, and is likely to remain so.” Another notable development that has people talking is the fact that major markets may soon see an increased number of price reductions. Much like the slowdown we just discussed, this development has been taken out of context. Appreciation rates in major markets, like Seattle, were recently at record-high levels—levels that weren’t sustainable. It only makes sense that after a period of rapid growth, there would be some cooling off to follow. With all of that said, homes in our local market have not been appreciating as rapidly as those in larger markets. And when you consider the long-term effect of such drastic market conditions, this is actually a good thing. Our market is stable, and is likely to remain so. 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.

Though technology can be a big helper, real estate will always need professional agents. In a recent meeting with my business coach, we focused on one big facet of our industry: personal contact. Like many parts of our society, real estate is becoming increasingly digitized. While it’s great to be able to find quick answers for many questions, real estate is far more complicated and holds many moving parts. A computer can’t give solutions that cover the case-by-case nature of most real estate situations. Our job is to walk people through the process, guide them through what to expect and what will likely happen, and help them through market shifts.  We had a buyer who had credit issues and their lender didn’t address it correctly. Though it looked as if the transaction would not go through, we were able to step back, look at the situation, and find a quick and easy solution. A computer wouldn’t be able to do this. “A computer can’t give solutions that cover the case-by-case nature of most real estate situations.” Not too long ago, our team encountered an inaccurate deed during one of our transactions. The deed was from 1932, and, therefore, the long-standing issues that surrounded this document were something no computer would have been able to fix independently. It just goes to show how important agents are. We were able to make a call, take care of the problem, and close the transaction on time. We’re here to answer your questions, respond to you quickly, and be your guide throughout the real estate process. Though we take advantage of technology, we provide the personal touch you need—especially when the unexpected arises. And with all our years of experience, we’ve likely solved problems like yours before. If you’re looking for your own guide in real estate, have any questions, or need more information, feel free to reach out to us. We look forward to hearing from you soon.

A lot of people have asked me recently whether buyers can take possession of a property before closing. As a matter of fact, they can, and I’m going to explain how today. I’ve had a few different people ask me recently about pre-occupancy agreements. Since I’ve been hearing questions on this subject so frequently, I thought I’d offer some insight for all of you today.  Before we delve further into this topic, allow me to explain what a pre-occupancy agreement is. Typically, buyers will move in on the same day as they close. But this isn’t always the case. There are instances where a buyer will need to take occupancy before the closing date, and this is where a pre-occupancy agreement comes into play.  “There is no one-size-fits-all answer as to whether pre-occupancy agreements are a good idea.” If the buyer only needs to move in a couple of days early, the seller is unlikely to ask for any additional compensation. If the buyer is asking to move in a few weeks early, though, then there will likely be a price to pay.  As is true of many aspects of a real estate deal, there is no one-size-fits-all answer as to whether pre-occupancy agreements are a good idea. There are cases where such an arrangement may benefit both parties and other instances in which it wouldn’t.  The only way to truly determine if a pre-occupancy agreement is right for you is to speak with a trusted real estate professional about your specific circumstances.  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.

If you’ve been wondering what’s going on in our real estate market as of late, then you won’t want to miss this end-of-the-year update. It’s time for our end-of-the-year market update. Along with sharing some developments from our market, I’d also like to enlighten you as to some exciting news from the mortgage industry.  Let’s start with the recent development from the mortgage industry: The conforming loan limit has recently increased from $423,000 to $484,000! This may not have a huge impact for some, but it is definitely a positive change for our market overall.  And speaking of mortgages, the average interest rate has actually improved. While rates were hovering around 5% a month or so ago, they’ve now dipped back down to 4.75%. This is still historically low compared to what we’ve seen in years past. In other words, it’s a great time to buy. “If you’ve been thinking of making a move, now is the time to begin taking steps toward your real estate goals.” Moving on to some other trends we’ve observed in our market, sales are still going strong. Despite the decrease of activity that is typical at this time of year, we’ve still got 210 pending sales on our market right now. This is yet another sign that we’re in for a very strong spring. On a personal level, my team and I can attest to this, as well, as we’ve had 12 clients approach us with plans to list in the early months of 2019.  All in all, if you’ve been thinking of making a move, now is the time to begin taking steps toward your real estate goals. If you have any other questions or would like more information about our end-of-the-year market, feel free to give me a call or send me an email. I look forward to hearing from you soon.

There are plenty of reasons why selling during the holidays makes perfect sense. Here are three of them. I’ve been hearing from clients who are excited about selling their homes, but they’re curious about whether they should wait until spring or whether they should get them on the market now. Here are a few reasons why right now is a great time to sell a home: 1. Holiday buyers are serious buyers. In the spring, there are plenty of buyers who are just curious about looking at homes and not 100% committed to making a move. If a buyer is looking during this time of year, they are definitely wanting to buy a house now. 2. There is less competition. When there are fewer homes on the market to compete against, your property will stand out to the current, serious buyers. Once the first of the year hits, we’ll see inventory pick up very quickly. By April, you’ll be competing against twice as many homes. “Once the first of the year hits, we’ll see inventory pick up very quickly.” 3. Holiday decorations give your home charm and character. During the holidays, there is a much more emotional attachment to purchasing a new home that’s really difficult to duplicate at any other time during the year. If you have any questions for us or you’re thinking about selling your home during the holiday season, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.

Is it smart to list your home for sale this fall or should you wait until next spring? Here’s what we think. I’ve been getting some calls lately from clients who are wondering whether it’s a better idea for them to sell now or wait until spring.  First of all, our fall market is doing very well. We currently have about 275 pending sales, which is up quite a bit from what we saw last year.  Second, one nice thing about selling in fall is that you have fewer showings, but the quality of those showings is very good. In the spring market, we tend to have a lot of showings where buyers aren’t 100% serious about buying. In the fall, that ratio of serious buyers is much, much higher. “Even if you’re not ready in time, there are plenty of things you can do now to prepare for a spring sale.” The fall is a beautiful time to sell, but if you don’t think you’ll be ready in time, we can still do a few things now to help you prepare for next spring. We can take pictures of your home this fall while it looks fantastic, do private showings of the home in the winter before we list it, and more. If you have any questions about selling your home anytime in the near future, don’t hesitate to give us a call or send us an email. I look forward to hearing from you soon.

Buying a home in today’s real estate market isn’t as difficult as you might think. Here are some tips to make things easier for you. We’ve been getting a number of questions about down payments, financing, and getting a mortgage in general. There seems to be a lot of misconceptions out there about the amount of money needed for a down payment. A lot of people think that it’s very difficult to get a mortgage in today’s market, but that’s really not true. Here in St. Cloud, there are quite a number of people utilizing the rural development loan program, which allows you to get a 30-year fixed rate mortgage with $0 down. FHA programs only require 3.5% down, and many times we can build closing costs right into the purchase price of the property. In addition, there are plenty of grant programs out there that will assist buyers with their down payments. “There are plenty of down payment assistance programs out there.” Another thing that is happening is that lending criteria has loosened up a little bit. If you have a good, stable job and good credit history, there should be no problem getting a mortgage right now while interest rates are still good. If you have any questions for us or you’re thinking about buying or selling a home anytime in the near future, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

We hope you have a happy Fourth of July. Enjoy the time spent with friends and family. “Don’t hesitate to reach out to us with any questions at any time.” Today I just wanted to stop by and wish everybody a happy Fourth of July. We have had a great start to the year and are looking forward to the rest of 2018. We hope you enjoy the day with family and friends. If you have any real estate-related questions for us in the meantime or you have any real estate needs that we can assist with, please feel free to reach out via phone or email. Until then, enjoy the holiday!

Can your financing program help you make home improvements when you purchase property? Actually, some may. Let’s discuss this option today. Imagine you’ve found a near-perfect home. It fits most of your qualifications, but there are still a few changes you’d like to make. What should you do? In the past, lenders would allow people to finance a home and then sometimes get an equity loan. These days, there are a couple of lenders in the market who will allow you to, with a few limits, roll the cost of home improvements into your initial mortgage.  My team and I worked with a client recently who took advantage of this option. They closed on their home, had contractors lined up, and were able to immediately make a few very nice upgrades, like new countertops. “There are a couple of lenders in the market who will allow you to, with a few limits, roll the cost of home improvements into your initial mortgage.” So if this is something that appeals to you or you have questions about how the program works, my team would love to provide you with additional details.  And, as always, 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.

Rural development financing is a great loan option for buyers who are highly qualified for financing but don’t have much in the way of savings. Recently, we’ve had a number of young buyers enter our market who are short on cash. They have great jobs, good incomes, and they’re highly qualified for financing, but they don’t have much in the way of savings. A great alternative for a buyer like this is a home in one of the surrounding areas in St. Cloud where we offer rural development financing, which requires zero down payment. These loans are available in the Rice, Clear Lake, Clearwater, Richmond, and some of the outlying areas. One of the advantages of rural development financing is it’s very similar to an FHA loan. It’s a 30-year fixed rate loan with very attractive interest rates, reasonable closing costs, and no down payment. In fact, sometimes we can even build in the closing costs so you can get into a house with hardly any money down at all. “Rural development financing is very similar to an FHA loan.” If you’re interested in rural development financing or buying a home in one of these outlying areas or you have any other real estate needs I can assist you with, don’t hesitate to reach out to me. I’d be glad to help you.

You may have some questions about the latest developments from our market, but now is still a great time to be a buyer or a seller. You may have questions about the state of our current market, but have no fear—the latest news is good. It’s true that inventory is low in our market—the number of homes that are available on any given day is lower than it was last year. However, we’ve noticed that the inventory that has come onto the market has overall been very good, and as a result, homes are selling very quickly. While it doesn’t look like there’s much available, if you’re watching closely, there’s still a good selection of listings. Another exciting development that I think has been blown out of proportion is the rise of interest rates. For most of 2018, rates have ranged between 3.75% and 4.25%, and now they’re hovering around 4.5%. If you consider the fact that the average interest rate over the past 30 or 40 years is 8% though, current rates are still at a bargain level. This means you can still either get a historically low payment or buy a lot more house for a lot smaller of a payment. Lastly, the snow is finally gone and spring is finally here. With the weather warming up, it’s the perfect time to put your house on the market. “Now that the snow is gone, it’s a great time to put your home on the market.” If you’re interested in putting your home on the market or you have any other questions about our current market, don’t hesitate to reach out to me. I’d love to help you.

How are rising interest rates impacting today’s market? There are a few key points to keep in mind. Recently, we’ve been getting a lot of questions about interest rates and the impact they have on the market.  The first thing to note is that the Fed has raised rates on overnight loans from bank to bank. This is significantly different from mortgage rates, but this has caused mortgage rates themselves to creep up as well.  The good news is that mortgage rates are still at 45- to 50-year lows. Rates right now are, on average, in the 4.25% to 4.5% range. However, this does mean that monthly payments are currently more expensive than they were when we saw rates of 3.3%. If you’re looking at a $300,000 home in this market, the difference between a rate of 3.3% and a rate of 4.5% is about $127 per month. “Buying power today is still much higher today than it has been for much of the last 50 years.” Still, it’s important to keep in mind that current rates are still very attractive. The average rate for the last 60 years is about 8.5%. Buying power today is still much higher today than it has been for much of the last 50 years. Also, these rates refer to fixed-rate loans. This means that buying a home today at 4.5% is still an incredibly wise move since rates are set to rise even higher. Now is a great time to lock in our still-low rates.  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.

How are things in the St. Cloud real estate market? I’ll give you a quick update on our inventory and new construction today. Today, I have a quick St. Cloud market update to share with you.  As our spring market progresses, the market has been very strong. We’ve had a very nice influx of new listings, and they are selling pretty quickly. Most homes are selling in one, two, or three weeks and, in a few cases, with multiple offers.  This can be frustrating for buyers, but sellers love it. The nice thing is there are a lot of options to choose from. “New construction homes start at about $200,000.” We have a few people looking at new construction, and we have lots available in and around the area. New construction typically starts at about $200,000. If you have some interest in building, are looking for a lot, or would like to get connected with a very good builder that has some excellent building sites, we can assist you with that this year as well.  Inventory is a little low, so if you’ve been thinking about selling your home, now is a great time to put your property on the market.  I would love to help you find a home or help you with the sale of your current home. If you have any other questions about our current market, just give me a call or send me an email. I look forward to talking to you soon.

We’ve joined the Better Business Bureau. If you’re curious as to what this change represents, let me explain. Today, I’m excited to let you know that we have joined the Better Business Bureau. Part of the reason for this change is that whenever the market gets hot, as it is right now, we have a huge influx of people in the industry. These people don’t stick around long. Our team, on the other hand, has a commitment to the industry, and we want people to know that. We feel strongly about honesty and integrity, both of which are things the Better Business Bureau stands for. “It takes 40 years to build a good reputation and only about five minutes to undo it.” We’ve run our business by the “Warren Buffett rule” for many years. It takes 40 years to build a good reputation and only about five minutes to undo it. That said, we’ve worked hard to earn the great reputation we have today and we won’t do anything to jeopardize it. If you have a question you can check out our site on the Better Business Bureau, but you should also know that we’re always here to take your questions directly. So, if you’d like any more information or want to ask us anything else, feel free to give my team and me a call or send us an email. We look forward to hearing from you soon.

The MLS has changed a lot over the last 15 years. Here’s what you need to know. We’ve been getting quite a few questions lately about the multiple listing service (MLS), what it is, and what it does. There are a few things confusing people about the system, so I wanted to clear the air today. First, a word on what the MLS is not. It is not www.themlsonline.com. That’s just a real estate company with a conveniently titled name. Our actual MLS can be found here. Our MLS has changed a lot over the last 15 years. Back then, each community had their own separate MLS. St. Paul, Brainerd, Duluth, and St. Cloud each had their own system to market properties to agents in the area. “You can find a link to our MLS right here on my site.” Since then, real estate has become very regional. Instead of 15 different MLS systems, we now have just one. The Twin Cities MLS covers Minneapolis, St. Paul, St. Cloud, Mankato, Alexandria, and a good ⅔ of the state of Minnesota. When you market your property on the MLS today, it reaches many more agents before being distributed out to websites like Zillow and Realtor.com. Most agents will simply list your home on the MLS and leave it, hoping for other agents to pick up the slack. That’s not how we do things. We work hard marketing your property each day it’s listed and we don’t get paid until you do. If you have any questions about the MLS, real estate, or anything else, don’t hesitate to reach out and give me a call or send me an email. We look forward to hearing from you soon!

What simple updates can you make to your St. Cloud home in order to sell quickly and for top dollar? I’ll share a few tips today. If you’re ready to sell your home, what can you do to prepare your house for the market? I have a quick overview of what you can do to prepare your home to sell. If you have any specific questions about your house, we’d love to meet with you, walk through your home, and show you what your competition is doing and what buyers like to see. First impressions are really important. When you come home, try to put on your “I’ve never been here before” glasses and take a quick walk through the house with a notepad. Start at the front door. Does the front door look neat and clean? Is the paint a little warped? If so, buyers who walk in may be a bit on guard. If the entryway is clean and everything looks sharp, buyers tend to relax and enjoy the house a bit more. After you’ve walked through the front door, what do you see? Does the carpet look nice? Is the paint fresh? Again, the first impression is very important. Buyers are trying to get a feel for if the home will be a good fit. Can they move right in, or is the home going to be too much work for them? From there, the rooms that have the greatest impact are the kitchen and the bathrooms, especially the master bathroom. There are a number of little things that you can do that will go a long way toward selling your home. The first and least expensive thing to do is paint. A fresh coat of paint goes a long way. Next, change out worn flooring or flooring that is in an outdated color. “If you have gold light fixtures in your home, make sure you get them updated.” Another important thing you can do is change out the light fixtures. In our market, a lot of homes that are 15 to 20 years old have brass or gold light fixtures. For today’s homebuyers, those old light fixtures won’t cut it. That is an inexpensive update that only takes a couple hours and gives your home a fresh look. You can make your kitchen and bathroom look better by getting hardware that matches the new light fixtures you just put in. When we make these updates, buyers often ask how old the house is. When we tell them that it’s 15 or 20 years old, the same as the other homes they’re looking at, they say, “Well, I just don’t know what it was, but that home felt a lot newer.” Oftentimes, that’s because the house has new light fixtures, new hardware on the cabinets, and a fresh coat of paint. If your home needs a few more touch ups, we can put you in touch with great contractors and give you a few pointers on what is going to work well in your home so that you can sell for top dollar. Right now, there are only 557 homes on the market. At this time last year, there were 850 homes on the market. That means that 2018 is going to be a good year to be a seller. If you are thinking of selling or have any other questions about our real estate market, just give me a call or send me an email. I would be happy to help you!

Last year’s market was great. That being said, there are a couple of things we can learn from it as we move into 2018. 2017 was a very good year in our market, so is there anything to be learned from it? Last year, it wasn’t uncommon for listings to sell within two to eight weeks. Even so, one of the things we can still take away is that preparing one’s home for the market is still important, even in a faster-moving market. Homes that were better prepared would often move more quickly than the competition and would often receive higher offers. We also saw a relatively large influx of new agents last year. Any time the market is doing well, it seems to become easier for people to obtain a real estate license. Nevertheless, there is usually a two- to five-year learning curve. “Hiring a pro is as important as it ever was.” The basics of real estate aren’t difficult to pick up, but getting great deals requires a higher level of expertise. Due to the newer, less experienced agents that entered our market in 2017, there were a surprising number of deals that didn’t close. My team and I have the experience and knowledge to help transactions go more smoothly. Hiring a pro is as important as it ever was. There is enough stress that comes along with any real estate transaction. Leave some of the work to a professional. 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.

2017 was a great year, but how is 2018 shaping up so far? Let’s take a look at what we’ve seen up until this point. Happy New Year! 2017 finished off as one of the best years we’ve had in a decade. Our spring market typically begins in the first week of January, but things got started much sooner this time around. Right now, we already have a 198 pending sales waiting to close. Typically, we don’t see this many pending sales until April or so. “2017 ended up being one of the best years we’ve seen in a decade.” Another thing worth mentioning is that we’re currently seeing a great market for sellers. Inventory right now is at 571 homes. To put that in perspective, we had 3,000 homes listed for sale in the market during the recession a couple of years ago. Tight inventory is a great sign for sellers. If you’re looking to put a home on the market, it may be a good idea to do so soon. Buyers should know, however, that there’s still a decent selection out there for those looking to buy a house. 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.

With 2018 just around the corner, I’d like to let you know about an exciting opportunity. The new year is just around the corner, and if you’re thinking of making a move in the near future, there’s an opportunity available to you. This opportunity is one I think most people don’t know about. January 1 has the lowest inventory of the year. After that, inventory will build over the next several months. “The beginning of the year holds a lot of opportunity.” Within the first 60 to 90 days of the year, a lot of serious buyers are active in the market. In other words, right now is an excellent time to sell. There are currently about 650 homes on the market, which isn’t much at all. 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. Whatever your real estate needs, my team and I would like to help you out. Thank you for a great 2017. Happy New Year!

Season’s greetings! Now is a wonderful time to look back on a great year. In 2017, we helped over 98 families move into their dream homes, where they’re celebrating a happy holiday season with friends and family. We’re ready to make the new year great for even more homebuyers.

How does the market now compare to the year in general? Here’s your update. We’ve had a lot of questions from people who are wondering how the market went this year. So today, I want to give you another market update and talk about what conditions and trends we noticed in 2017. It’s been a good year for buyers, with interest rates at a record low. It’s also been a great year for sellers—many homes sold in two to eight weeks, which is far more predictable than just a couple years ago. “It’s been a good year for buyers, with interest rates at a record low.” And right now, we have a relatively low inventory. We currently have about 680 homes on the market within 25 miles. To put that in perspective, last year at the same time, we had 660 homes on the market, so it looks like we’re going to start out like last year: low inventory, strong sales, and lots of activity. It’s a great time to put your home on the market if you’re thinking about doing it early. Remember, if you do sell in January, we’re probably not closing until March or April at the latest. How many homes sold this past year? On the MLS, 1,625 homes sold in the St. Cloud area. Of those, we’d like to thank the 98 families that worked directly with us who are now living in a new home. It’s been wonderful helping many past customers, friends, family, and those in our sphere of influence. If you are looking to make a move this coming year, now would be an excellent time to get ready. Our spring market typically begins January second, and our inventory will be at the lowest level of the entire year during the first few weeks of January. As we move into spring, we’ll see inventory steadily pick up. The first three months of spring, if you’re ready, is an ideal time to sell. Inventory is tight and buyers are actively looking. If you have any questions, topics you’d like us to cover, or if you’re looking to buy or sell, feel free to give us a call.

How do we help sellers get top dollar for their home in St. Cloud? Here’s a brief overview of our process. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation A question I’ve been hearing a lot recently is, “How can I get full price on my home sale?” Well, the first thing you should do is give us a call, but here’s where we’ll go from there. The key to getting a full price offer is in the preparation and presentation of your home. Most buyers today are looking for something that’s move-in ready, so cleaning and decluttering are two of the most important things you can do. I also have the luxury of going through 30 to 100 homes every week, which gives me a great opportunity to see what buyers like, what they don’t like, and ultimately, what’s going to get you that full price offer you want. The initial showing for a home today is online, so it must be represented well there. Professional photography and great curb appeal are the most important things here. When you’re home’s presented well online, it will create interest among buyers and start to generate showings. “A HOME’S FIRST SHOWING THESE DAYS IS ONLINE.” By getting your home prepared properly and setting things up the right way, we can help you have the most successful sale possible in St. Cloud. If you have any questions for us or you’re looking to sell your home this fall, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

We have an extremely attractive market in St. Cloud right now for buyers and sellers. Here’s why. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation It’s been an outstanding year for our team so far. We’ve been able to help 83 families buy or sell a home this year, and we’re looking forward to helping many more as the year goes on. We just wanted to bring you a few of the most recent numbers that show where our market is at and where it’s going. There have been 1,750 home sales in the St. Cloud area over the last six months. This is a good, solid number for our market. Our pending sales are strong as well. We currently have 290 of them. We currently have 954 homes on the market in St. Cloud. This gives us about a four-month-supply of inventory, which is much more than there is in the Twin Cities. Our inventory is stronger, which helps buyers, while the average home can still sell within two to eight weeks if it’s prepared properly for the market. “OUR INVENTORY IS MUCH STRONGER THAN IN THE TWIN CITIES.” This is an extremely attractive market for buyers and sellers. Sellers can sell their homes quickly and for a good price, while buyers have a decent amount of inventory to choose from. If you have any questions for us or need any help buying or selling a home in St. Cloud, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.

I recently received an email from a good friend of mine that had some great questions in it. They were so good, in fact, that I wanted to answer them for you today. Looking to buy in St. Cloud? Get a full home searchLooking to sell in St Cloud? Get a free Home Price Evaluation A friend of mine, Jim Mcallister, recently sent in an email that asked a bunch of questions about my career. I thought I’d answer them today so you all can get to know a little bit more about me too. Here are Jim’s questions and my answers. How did you get into the business? I started in real estate at a young age. My grandfather had transitioned from a career as a successful salesman to a successful real estate agent and found it was a good fit. He eventually talked me into moving back to Minnesota from Seattle to learn the business directly from him. 40 years later, here we are. My grandfather was a great teacher, and I’ve done my best to carry on his legacy. Why do I stay in the business? The main reason is because it interests and excites me. It keeps me on my toes while giving me an opportunity to help people accomplish their goals and make one of the biggest investments of their lives. I love helping growing families, empty nesters, and everyone in between. The best part is having conversations with these people years later about how we made such a big difference for them. “THIS BUSINESS EXCITES ME DAILY.” If you have any questions for me or you’re looking to buy or sell a home in St. Cloud, give me a call or send me an email. I look forward to hearing from you.

Our summer market has been great so far, and that trend is expected to continue into fall. Let’s take a look at the numbers. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation Now that summer is ending and we’re about halfway through the year, it’s the perfect time for a look at what’s going on in our St. Cloud market. Recently, I’ve received a lot of calls from people asking if it’s too late for them to jump into a real estate transaction. The truth is: no. Though summer markets are notoriously hot, this fall market is set to be excellent, as well. In the last six months, 1,621 homes have sold in our local market. With 3,200 families making a move, this has been a very good year so far. The current 363 pending sales we’re seeing today is down only just slightly from March, when that number was 452. Within a 20-mile radius of St. Cloud, there are 962 homes on the market. Compared to the 640 homes on the market we saw in January, this is a significant growth. With a good selection of homes, a market time between two to eight weeks, and interest rates at record lows, our current market holds a lot of great opportunities for buyers and sellers alike. “OUR CURRENT MARKET HOLDS A LOT OF GREAT OPPORTUNITIES FOR BUYERS AND SELLERS ALIKE.” 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.

Zillow and its Zestimates have become a common topic of conversation. Here’s what you should know about them. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation One of the most common questions I’ve been receiving lately is: “How accurate is the Zillow Zestimate?” Every time we do a market evaluation on a home, we pull up its Zestimate and we are also pulling up recent comparable sales numbers. After reviewing dozens of these Zestimates and comparing them with the home’s actual market value, I have a few thoughts about them. The first is that they are extremely good at analyzing large amounts of data. If you had 10,000 homes as a sample size, the numbers would be right on the money. However, when it comes to individual homes the numbers aren’t as accurate. In fact, they are off by 15% to 22% nearly 70% of the time. It’s a good tool to use when you’re just starting the process, but when you’re trying to come up with an actual list price for your home, there is a much better way to determine what that price should be. “WE CAN GET YOU AN ACCURATE HOME VALUATION.” If you have any questions about the value of your home or if you or someone you know is looking to make a move, don’t hesitate to give me a call or send me an email. I would love to hear from you.

What’s going on in the St. Cloud real estate market? I’ve got a quick update for you. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation When it comes to the state of the St. Cloud real estate market, I’m happy to report that it’s continuing to be very strong like it has been in recent months. The inventory of homes for sale is a bit low, but has gone up since the first of the year. We have about 864 homes on the market, and interestingly enough, we also have 498 pending sales in our market. Compared to last year at this time, we had about 380 pending sales, so sales are strong currently. Inventory last year was about 1,200 homes. Inventory is good, but it’s a little bit tight. As a result, homes are moving quickly. We see quite a few homes sell as fast as a week to eight weeks. The great news in real estate is that interest rates are right around 4% or even better on some days. “THE GREAT NEWS IS THAT INTEREST RATES ARE ONLY ABOUT 4% CURRENTLY.” If you’re thinking about making a move, it’s a great time due to low interest rates and good home prices with a decent selection. If you have any questions, you can always give me a call or send me an email. I look forward to helping you with your move!

How do rising interest rates affect you? I’ll go over a couple of things you should know if you plan on buying or selling a home. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation There have been a lot of questions about rising interest rates lately. The good news is that mortgage rates are still extremely attractive and hovering around 4%. Financing is readily available, and you can get a home loan with 10%, 5%, or 3% down. If you qualify for a VA loan or want to buy in certain rural areas, you can get a home with no down payment at all. What happens if interest rates go up in a year or two years from now? While we don’t know what rates will be, let’s say they go up to 6%. If you’re looking at a $200,000 house, your monthly payment would go up $273 a month thanks to your 6% interest rate; you would have to pay $1,192 a month. So, if you want to wait to buy a home, it could cost you more down the line. “IF YOU WAIT TO BUY A HOME, YOUR MONTHLY PAYMENTS WILL GO UP WITH INTEREST RATES.” Also, let’s say that you qualify for a $200,000 house at a 3.75% interest rate. If rates go up to 6%, you would only qualify for a $155,000 house. Rising rates dramatically impact your purchasing power. There are two advantages to buying today. First, you will have a lower monthly payment for as long as you own the home. Second, if you do want to buy a home, then you will qualify for a lot more home now than you will in a couple of years (assuming that the rates go up). Right now, you have a great selection of homes on the market. If you are looking to sell and then buy, doing so now is fairly predictable, as most houses are selling in two to eight weeks. So if you are interested in buying or selling a home, or if you have any other real estate questions, just give me a call or send me an email. I would be happy to help you!

We’ve got an important notice for anyone moving this spring or summer. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation I’ve got some important information if you’re moving this spring or summer. We’ve been talking to a few of the local moving companies this year and it seems that they are getting booked up pretty far in advance, especially for moves at the end of the month. Make sure you get your movers booked as soon as you’ve got your closing date. In fact, it would be a really good idea to plan your closing date more toward the middle of the month when movers aren’t quite as busy. “MAKE SURE YOU GET YOUR MOVERS BOOKED AS SOON AS YOU’VE GOT YOUR CLOSING DATE.” If you have any questions or need anything from me and my team, please feel free to give us a call or send us an email. We’re more than happy to help.

According to the latest market statistics, it’s a great year to be a buyer or a seller. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation Whether you’re buying or selling in our market, I have some good news to share with you today. Let’s start with a few statistics to give you an idea of where the market currently stands. There have been 1,095 home sales in the last six months, which is a really good number. We currently have 439 homes waiting to close, or what we call ‘pending sales.’ That number is up quite a bit from last year. Our inventory has also grown quite a bit. At the beginning of the year, we had about 654 homes on the market, and today we’re up to 807, which is a little less than the 1,100 to 1,200 we would’ve had last year. If you’re a seller, this means there’s a good chance your house will sell in a reasonable amount of time. If you’re a buyer, the really good news is that mortgage rates are close to record lows. In fact, on a 30-year fixed rate for a conventional loan, you’re looking at rates in the 3.75% to 4% range. For FHA or first-time buyer financing, rates will probably be in the 3.5% to 3.75% range. If you’re considering financing 15 years or less, your rate will be quite a bit better. “IT’S A GREAT TIME TO BE A BUYER OR A SELLER.” If you’re thinking about selling, it’s a great year to do it. If you’re thinking about buying, you’ll save a lot of money over the life of your mortgage with rates where they are. If you have any questions about our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to us. We would be happy to help you.

News is good across the board in the St. Cloud market as we head into spring. Looking to buy in St. Cloud? Get a full home search Looking to sell in St Cloud? Get a free Home Price Evaluation There’s good news all over the St. Cloud real estate market as we head into spring. As of right now, there are 717 homes on the market, which is great for anyone looking to buy a home because it’s up substantially from the 650 we had just a couple weeks ago. If you’re selling your home, it’s a less competitive market and it’s a good year to be a seller again. As of the first week of March, we had 286 home sales waiting to close that went under contract in the last 60 to 90 days. At this time of the year, that’s a really good start. I think it’s due to the great mortgage interest rates and the warm weather we’ve had lately. The spring market started early. “IT’S A REALLY GOOD TIME TO BE IN THE MARKET EITHER AS A BUYER OR A SELLER.” It’s a really good time to be in the market either as a buyer or a seller. If you’d like any additional information, give us a call or send us an email. We look forward to helping you in this great market.