What Does a Shift in Our Market Mean for You?

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I’ve been getting a lot of questions lately about the market and what exactly is going on right now. I’ve done a little bit of research for you and wanted to share my thoughts today.
As you all know, we’ve seen some interest rate hikes, but we haven’t seen anything too major. However, experts are forecasting approximately three more hikes in the next year that will take interest rates up by 2% to 2.5%.

When these interest rates go up, it’s going to affect affordability for homebuyers in the market. Instead of being able to purchase a $250,000 home, you’re only going to be able to afford a $225,000 home.

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Increased interest rates will reduce buyer pools and reduce home prices.

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For home sellers, this is going to reduce the buyer pool for their home. This will put downward pressure on the market and push your home value down.

That’s why if you’re considering selling at all in the next few years, it’s vital that you look at your options for selling this year before these rates increase and prices start to go down.

There’s a lot going on here. If you have any specific questions about this or about anything else related to the real estate market, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

Working With a Team vs. With an Individual Agent

In today’s market, it’s tough to work with an individual agent. They simply cannot match what real estate teams have to offer buyers and sellers.

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When you choose an agent to help you buy or sell a home, you’ll need to decide whether you want to work with an individual agent or an agent who has a team. What’s the difference?

We work as part of a team. We don’t just have a bunch of agents working with us either. We have a staff, a full team of people who are providing specific services in order to get you what you’re looking for a smooth transaction and the best return possible on your investment.

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At the end of the day, we want to provide quality service.

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An individual agent is on their own at the end of the day. They are wearing all the hats in the transaction and in today’s market, that is tough to do. At the end of the day, we just want to provide you with quality service and make you the most money possible when you work with us.

If you have any questions for us or want to learn more about what we can do for you, give us a call or send us an email. We would love to hear from you.

We Want to Help You Achieve Your Goals

2016 is almost over, and we want to be a resource to help you achieve your 2017 goals. Here’s how.

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As the end of the year approaches, it’s time to think about goals for 2017. Team Winegarden has massive goals for the new year, and you are a part of them. 

Most people have New Year’s resolutions. These resolutions usually get written down on a piece of paper and shoved into a drawer. It’s possible those resolutions will maybe get looked at once a year.

What we do is much different. We set a goal, put a plan together, and go after that goal throughout the year. We have been in the business for about 12 years now, so we have a lot of resources that could possibly help you out with getting your goals achieved.

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It’s all about service and helping those around you.

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We want to be a resource for you this year. How can we help you? How can we be of use to you? Shoot us an email or give a call to let us know what your goals are. From there, we can figure out exactly how to help you achieve them.

At the end of the day, it’s all about service and helping those around you.

Again, please reach out to talk about your goals or any real estate questions you have. We look forward to helping you with both.

The Best Time to Sell in Minneapolis

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It's the middle of January. How are those New Year's resolutions going? Do you still have the same motivation when you sat and wrote them down? At the end of the day, we're here to help you with some of those resolutions, especially if you're thinking of selling your home. 

Many clients approach us with: "I want to sell my house but we're thinking about listing in the spring time. Isn't that when all the buyers come out? Isn't that the time to sell?"

Spring is definitely a busy selling season. However, when you're deciding to sell your home, it's important to look at two factors: inventory levels and how serious the buyers are. 

 

In March, April, and May, inventory levels will almost double. If we have 100 homes on the market now, in the spring there will be 200. As a buyer, that means there are more choices, which means less leverage for the seller. Now is an unbelievable time to sell because inventory is so low.

Right now, it's incredibly cold outside, 5 below. If buyers are out looking for homes in this weather, they are ready to pull the trigger and buy a home. Buyers this time of year are ready to go.

If you need help with your New Year's resolutions, give us a call or send us an email. We would be happy to help you!

Your Minneapolis New Construction Questions Answered

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My baseball team, the Victoria Vics, just entered the playoff season, so today I'm sporting a playoff mustache. The bigger the mustache gets, the further we've made it into the playoffs!

In other news, I've gotten a lot of questions about new construction lately. Most people want to know if they need a real estate agent, or if they can just work with the agent who works for the builder.

Keep in mind that although the builder's agent is supposed to be impartial, at the end of the day, they represent the builder's interests. I would absolutely recommend working with a real estate agent to better protect your interests.

Another question people ask is whether or not they need an inspection on a new construction house. You will get a few walk-throughs with the builder during the construction process. However, it's better to be safe than sorry, so I absolutely recommend having an inspection when the home is completed.

If you have any other questions on new construction, give me a call or send me an email. I look forward to hearing from you.

Are Multiple Offers Common for Twin Cities Sellers?

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 We are here today to talk about how you should be handling multiple offers in the Twin Cities, from a seller's perspective. Compared to this time last year, we have seen an increase in listings of 3.5%, and a 40% increase in pending sales over last year. This is very exciting news if you're looking to sell your home.

When you receive multiple offers on your home, it simply means you received more than one offer on your home while it's listed for sale. This is a good thing for sellers because it creates demand for your home. If we receive multiple offers on your home, here's what we can do:

We can call and ask every interested party to present their best and highest offer. In addition to driving the price up, we are also looking at the terms in other areas of the purchase agreement, including the closing date, financing type, closing costs, inspection period, and others. 

The price of your offer is important, but not the most important thing. If, for example, you get an offer with a high price, but a 3 or 4-month closing date, that might not be your best offer. An offer with a short closing date and no closing costs might be better than one with a higher price. 

If you have any questions for us, we would love to answer them. Just give us a call or send us an email, and we will get right back to you. Talk to you soon!