Wishing You a Joyous Holiday Season

We want to thank all of you for your support. You have made this a great year, and we are looking forward to 2017.

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

We just wanted to stop by today to give you a quick recap on the year and extend to you our warmest holiday greetings. First, some great news about the market.

In the upper price ranges especially, our market is greatly improving. Right now, we have 279 pending transactions. For this time of year, that’s an outstanding number.

It looks like we will have an early and strong start in January. For those of you itching to get going on a new home, our spring market starts January 2nd. If you have any questions or if there is anything we can help you with over the holidays, let us know. 

“

We expect 2017 to be even better.

”

2016 was great, but we expect 2017 to be even better. Thanks to all of you who helped out our business this year. We are always here for you, just give us a call or send us an email. 

Are You Familiar with These Two Important Real Estate Concepts?

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

Today, we want to demystify two real estate processes that often confuse our clients: home inspections and appraisals. What are the benefits of each and how do they differ? We'll quickly cover the basics:

• Appraisal: This is mostly done for the bank. The buyer will pay for this as part of the closing costs. One purpose of an appraisal is to ensure the bank isn't loaning too much money on the property. It's highly regulated by federal guidelines for mortgage underwriting. In short, it determines a property's value and protects the bank from over-lending! It's unusual to have any problems with this part of the process.
• Inspection: This determines the condition of the property for the buyer to make sure they know exactly what it is they are buying. The inspection is typically done within five days following a purchase agreement and is paid for by the buyer. The inspector will come in and do a very thorough walkthrough of the property (3-4 hours) and submit a 10-25 page report. If there are things that need to be improved, the buyer and seller then negotiate how they pertain to the final terms or purchase price.

If you have any questions about these two important real estate processes, don't hesitate to reach out to us. We would love to ensure you are a knowledgeable buyer or seller, so you make nothing but the best real estate decisions! We look forward to hearing from you soon! 

How to Handle a Multiple Offer Situation in St. Cloud

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

I have an update for you since our last video went out, because we've begun to see more homes selling, and some of them are even garnering multiple offers! We haven't seen many multiple offers lately, so I'm going to give you some advice on how to handle them if you're buying or if you're selling.

As a buyer, it's a little risky to be overly aggressive when you're making offers on a home. I've seen a few buyers that have put a lot of faith in a home, and when another buyer comes in and makes a higher offer, the seller will often pick that other offer that is a little higher. This has resulted in them having to buy their 2nd or 3rd choice of home. However, home prices have been rising lately, so you stand to make a very nice investment.  

If you're selling, you need to know that the highest offer will not always be your best offer. So, our market is performing much better than the last time we spoke. It's a balanced market, so it's a good time to be buying or selling. If you need assistance with either, please don't hesitate to contact me! 

You also need to keep in mind that our market is not exactly red hot, so you cannot demand everything of the buyer, or you risk losing out on some buyers. You still have the upper hand, but don't abuse that position or buyers will back out.

Where Can You Find Reliable Market Data for St. Cloud?

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

Around 2006 or so, Zillow started to make an impact on the real estate world. Nowadays, there are many websites that provide a wealth of information about the real estate market. While Zillow is a great tool and resource, you should be wary of the information you find there.

It's great that information is more accessible than ever before, but you need to be aware that not everything you see online is accurate. Zillow's Zestimate is notoriously inaccurate (can be off by up to 18%) and it should not be used to determine the sale price of your home.

Sometimes the results are accurate, but a lot of the time they are wildly inaccurate. These algorithms don't take into account comparable properties or updates made to the homes that would otherwise improve the value. Subjective information like curb appeal and the interior design are not factored in, and this is why valuations should only be used as tools, not as measuring sticks for a selling price.

If you need accurate information about your home's value, please contact me or go to the website below to find your home value.

As always, if you ever need assistance with real estate in St Cloud, please don't hesitate to contact me!

What Do Recent Market Trends Mean 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

After our last market update, many viewers wrote in with specific questions about where our market is heading. Today, we'll answer a few of them!

Where are home prices trending?
Right now, home prices are increasing gradually in the St. Cloud area. Our sales volume is a bit higher than usual and homes are selling quickly. If this trend continues, you can expect home prices to continue their upward movement.

Are we in a seller's or a buyer's market?
We're in a pretty neutral market at the moment. We have around six months of available inventory on the market right now, so we're about as balanced as we can be.

What can we expect from the market in the next few months?
If inventory stays where it is, we're probably going to continue to see stable conditions in which neither buyers nor sellers have a distinct advantage. If inventory falls, you can expect to see prices rise quicker than they currently are. If inventory goes up and sales slow down, we'll likely see prices stabilize and fall flat.

How do current conditions affect sellers and buyers?
Right now, sales are fairly predictable. If your home is priced well and in good condition, you can expect to sell within 2-8 weeks. If you want to know what buyers are looking for in our market and what your competition is doing to get their homes ready for the market, let us know and we'll fill you in on the details. If you're buying, there is a very good selection, but you need to act fast because the best homes are going quickly.

If you have additional questions about our market, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to give you a hand!

Real Estate in St. Cloud is Looking Up

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

Here in St. Cloud we're having a terrific spring market compared to what happened last year. Sales are much more predictable this year, and we're seeing a lot of homes selling in 2-8 weeks. If you get your home on the market now, you will have a good chance at catching buyers when demand is the highest, and this will help you to get top dollar for your home.

Buyers in St. Cloud need to be aware that interest rates are still unbelievably low (below 4%) and affordability is still extremely high. Also, homes are selling quickly, so you need to come in with a good idea of what you want and strike when the time is right.

Overall, it's a great time to enter the real estate market. Affordability is sky-high, and this benefits everyone. Buyers will be able to purchase better homes, and because buyers can afford to purchase them, it makes it easier for sellers to sell them and then move into a new property at an affordable rate. It's a win-win for everyone involved.

If you need help buying or selling in St. Cloud, please don't hesitate to contact me! I'm always here to help you.

What Do Ideal St. Cloud Market Conditions Mean 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

As the weather continues to heat up, our sales are getting stronger. If you're thinking about buying a house, or if you know someone who is, now is the time to act! Here's why: 

• Close to record-low interest rates 

• Mortgage underwriting criteria are less stringent 

• Less competition 

 
The market is only going to continue to heat up. The longer you wait, the less likely you'll be able to accomplish your buying or selling goals. More competition means more compromises, and no one wants that. 

If you have any questions, or if you would like real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you take advantage of these great conditions.