Are Home Prices Rising in St. Cloud?

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Today I'll be continuing with a market update, as well as answering some good questions about the market.

Overall, we're seeing a very balanced market right now. We have roughly six months of supply on the market, and this means that buyers and sellers have equally good chances of getting a good deal on a home.

A lot of our listings are selling in 2-8 weeks, and there is a large selection of homes to choose from. On top of this, mortgage rates are still sitting below 4%, so now is a great time to buy.

Sellers will be glad to hear that home prices are rising, and they are predicted to increase over the next year. If you're buying a home, you have an opportunity to ride a nice wave of appreciation.

If you'd like to sell now, you're going to see less competition right now than you would in the early spring. You'll probably find a lot more serious buyers right now than you would during the spring.

The rental market in St. Cloud is also going strong, and so if you would like to invest in rental properties, please don't hesitate to contact me. This is a great way to come up with some passive income for your retirement, or just to put some extra cash in your pocket.

As always, please don't hesitate to contact me about real estate in St. Cloud!

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 Can You Determine the Condition of a St. Cloud Home?

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

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

If you're buying a home in St. Cloud you will probably want a way to determine whether or not it is a good home. There are multiple ways that this can be done.

One thing that we always do is have the seller fill out a disclosure detailing the condition of the property, and we can also use a home inspection for a more thorough run-through of the property.

A home inspection is done by a professional home inspector, and this person will go through a property to check on the roof, plumbing, air conditioning, water heater, and other vital systems in the home. This protects buyers from purchasing homes with major problems. If the inspector finds something, the buyer will be notified and the agents will have to come to an agreement on how to fix the problem.

In addition to the inspection, we will do a final walk-through prior to closing, just to make sure that the property is in the same condition as it was when the contract was drafted. You can also take out a home warranty plan that will last for one year and will cover mechanical issues and appliances within the home. This warranty can be extended after a year if you wish to continue using it. This is probably a good idea, as there are almost always things popping up here and there.

If you have any questions about any of these issues or if you would like any help buying or selling a home in St. Cloud, please don't hesitate to contact me!

Good News from the Mortgage Market!

There are many great St. Cloud area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (320) 240-3363 for a FREE home buying or selling consultation to answer any of your real estate questions.

 

I just wanted to update you very quickly about some good news from the mortgage market. If you're looking to buy a home anytime soon, then you're in luck, because they are more affordable than ever!

Interest rates are sitting at all-time lows, and new loan products that are being rolled out will help to push your dollar further than ever before!

New FHA loans will make your mortgage payments more affordable than ever. Also, loan products from Fannie Mae and Freddie Mac are only requiring a 3% down payment on a home!

This increase in affordability will surely draw a lot of buyers into the market this spring, so if you want to buy, please get into contact with me soon. These great offerings won't last long!

Have a great afternoon, and contact me with any questions regarding real estate in St. Cloud.

How Do Interest Rates Affect Your Spending Power in St Cloud?

There are many great St. Cloud area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (320) 240-3363 for a FREE home buying or selling consultation to answer any of your real estate questions.

Although the year has just begun, we're already seeing some interesting trends.We're seeing a lot of people make discretionary moves to the kind of property they've been dreaming about and waiting to purchase for the last four to six years. Additionally, we're seeing an uptick in recreational property sales and an increase in homes on acreages. Homes on the water, both the river and the lake, are selling at a higher rate as well. 

Why is this? Well, interest rates are still historically low, making payments as  affordable as they've ever been! With the future of real estate uncertain, as far as interest rates are concerned, many people are acting now while conditions are great. 

Are you interested in upgrading, investing, or buying a second home? Now is the time to do so. If you would like to discuss your options and see whether it's time to make your move, give us a call or shoot us an email. We would love to hear from you!

St. Cloud Real Estate - buy now while home prices and interest rates are so low!

There are many great St. Cloud area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (320) 240-3363 for a FREE home buying or selling consultation to answer any of your real estate questions.
 
I get the question all the time: How do you save money in this real estate market? Moreover, what's the best way to get the best value on the house you're buying? Today I'm here to answer these questions and give you the good news about the current real estate market.

First off, home prices have really bottomed out. Most likely, 6 months to a year from now the market will pick up more speed; the construction industry will start thriving and prices of building materials and labor will climb fast. Given this forecast, you can expect the average home price to rise soon, so the sooner you get out there and buy the better.

Secondly, interest rates are still at a rock-bottom percentage. We are averaging a 4.5% rate but forecasters expect that rate to increase a pull percentage in 2014. Sounds pretty minor right? Well, that one percent increase to 5.5% will mean you're paying roughly $125 extra a month for the same house. That's $1,500 a year, and a whooping $45,000 extra paid over the lifetime of a standard 30 year fixed mortgage rate.

If you're thinking of buying today, don't wait! Call me  at (320) 240-3363 or email me at hauck@saintcloudrealestate.com. I hope to hear from you soon, have a great day!

What to expect from 2014

Welcome back to my video blog. The New Year is here and what a great year it's going to be. We finished 2013 with a whopping total of 220 pending sales. This number practically doubled from last year, so clearly 2013 was a great year for the real estate market. Looking ahead, the good times should keep on coming, and I expect a fast start in 2014.

You may not know, but the first quarter is one of our best quarters of the year. In fact, about 60-65% of our sales occur from Jan. 1st - Jun. 1st, and it's an especially good time for sellers.

If you are thinking about selling, now is the time; beat your competition. There are tons of qualified and motivated buyers out there and they don't have much of a selection. Homes have been on the market an average of 4-8 weeks, and this time period may shrink if the market starts rolling early in 2014.

If you have any questions about getting your home ready to sell, give me a call today. It's a great time to put your house on the market; don't let this opportunity pass you by! Thanks for watching!

A Look Back at 2013

Hello and happy holiday season from Coldwell Baker Burnet and myself. I hope this special time of year finds you warm, happy, and full of the giving spirit. 2013 is coming to a close and so I want to take this time to discuss the last year in the real estate market here in St. Cloud.

This year we had 2,600 closed transactions within a 30 mile radius of St. Cloud; which is the highest it's been in 8 years. That's 2,600 families who relocated, and many of these families moved quicker than we've seen in a while. Average move time was 2-8 weeks, vastly exceeding 2011's average of 4-8 months, and the predictability of sales is much better as well. Clearly, now is a great time for sellers and buyers which means our market is getting back to a good balance. Inventory is down and interest rates are still in the low 4%, but early next year they may start rising as the government looks to maintain a balanced market.

Beginning of next year, I predict a quick start as we have 220 pending sales. This is almost double from where we were at this time last year. It's a great time to sell or buy in St. Cloud and it looks like that trend will continue into 2014.

If you have any real estate questions please don't hesitate to call me at (320) 240-3363. Stay tuned for our future video blogs, have a wonderful holiday season, and I look forward to hearing from you.

4 Tips to Get Your Home Ready for the Market

Welcome back! Sellers frequently ask me how to get their home ready for the market. There a few inexpensive things you can do to add tremendous value to your home in the eyes of a buyer.

1.    First impressions. When a buyer first drives up to your home, what will they see? Is the lawn mowed and the paint fresh? Are the toys put away? How the outside of your home looks creates the mood for the inside of the home.

2.    Declutter. We can all be guilty of letting things pile up. Maybe you have some extra furniture or knickknacks you’ve collected. Go through room-by-room and take out any unneeded items. The most important rooms are the kitchen, living room and bathroom. Then take some stuff out of that overstuffed closet!

3.    Touch ups. Replace the carpet if needed. Add a fresh coat of paint. Polish the woodwork. These are all minor things that can add a fresh look on your home.

4.    Invite a friend or us to walk through the home. Maybe there is something you overlooked.

If you have any questions on how to get your property specifically ready for the market, give me a call. I’d love to help make your home a competitor.

Now is the time to buy and sell

Welcome back! The market has been fantastic this year: sales are up, homes are selling in as little as 2-8 weeks and we have an increased inventory for next year.

It is the perfect time to buy or sell. If you’re a first time homebuyer, we can help you find the home you want, walk you through finance options and help make the new process smooth for you.

Or maybe you have elderly parents who are having a hard time with that stairway in their home. Is it time to downsize? We can help find a home with easier mobility and we can price the current home to get the best deal.

Give me a call so we can help you with all your real estate needs! Thanks for watching!

Saint Cloud Market Update

Welcome back to our video blog! I have some great news! Pladson Prudential Realty has now merged with Coldwell Banker Burnett. We have double in size and gained better technology to give you even better service!

We’d love to help you with your real estate needs. Have you been thinking of buying or selling? Now is a great time.

Home prices have stabilized and are starting to go up. As many of know, too, interest rates have been on the rise. They rose to 4.5 percent, but recent dropped back down to 4.25 percent. Take advantage of these historically low rates; they are expected to increase again.

For any of your real estate needs, please give me a call!

Is it Too Late to Move for the Year?

Welcome back to our video blog! I’m here to answer questions that have been coming up lately and one of the biggest questions I’ve heard is “Now that it’s fall, is it too late to move?”

I have great news; the answer is no! Typically we have most of our activity from February through May, but if many of you can remember, we had a lot of snow in April. The weather slowed down the normal spring market. Activity didn’t crank up until about May 1^st. Because of this we are expecting a busy fall market!

If you are thinking about buying a home right now, there’s a great selection of homes, great interest rates and lenders are excited to lend money! If you’re thinking about selling, we have a lot of people who are currently renting and are ready to get back into the market.

Some other great news is there’s still plenty of time to get into your new home and settled and be relaxed and ready for the upcoming holiday season. Market values have stabilized and are improving. If you have any questions about what your home is worth, just give us a quick call at 320.240.3363 or send me an email at hauck@saintcloudrealestate.com we’d be more than happy to help you!