Is the market better?

 Thanks for joining me today! We are here to give you an update on our market, and it really is an exciting market with wonderful changes. Today, I wanted to answer a couple of questions I’ve been hearing a lot lately.

Is the market better? Can I get my home sold?

If we take a look at the Saint Cloud Market, we have 350 pending sales. These are home that are waiting to close. That’s the best we’ve seen in about seven years. The exciting thing is these homes are selling in 2-8 weeks. Absolutely can we get your home sold! Not only that, but we can sell it at a price that’s 2-4% of the sales price!

Why would I do it now?

Some people have expressed concern that it may be better to wait until next year. Well, there are some benefits to making your next real estate move now. As we all know, that crystal ball is never 100% accurate, but it looks like the interest rates will be higher next year. It also looks like as the market gets stronger, the prices of homes will be higher as well. If you buy today, you will save a significant amount of money by locking in the phenomenal interest rates.

What difference do interest rates make?

Today mortgage rates are right around 4% for a 30 year fixed rate loan, which is a phenomenal rate.  If you finance a $200,000 home, your payment at 4% will be right around $954. This is tremendously better than the past.

If you wait a year, and rates go up to 6%, your monthly payment will be $1,099. So, if you buy today, you’ll save $245 a month! If you own your home for 10 years, that’s $30,000 of interest you wont pay!

You can also get more house with our current interest rate. With a 4% interest rate you can buy that $200,000 home, if rates go up, you are looking at homes right around $159,000.

If you are interest in moving or selling or know someone who is, give us a call 320. 240.3363, we’d love to help them take advantage of the market!