Many of my buyers really rely on having an inspection on the home they are going to purchase but sometimes buyers wonder if they need an inspection. Unless your are very knowledgeable about construction yourself I always recommend getting an inspection. Many buyers want to cut costs and if the home is newer they don’s see the need to do an inspection but just because a home is new does not mean it is free and clear of issues. By spending a bit of money for an inspection up front you can save yourself a lot of money down the road! (more…)
For the first time since late October mortgage rates top 4%! The average rate for a 30 year fixed rate mortgage is at 4.08%, this increase is another sign that the housing market may be starting to turn around. Industry analysts do expect mortgage rates to rise this year but the 30 year fixed rate they predict to be at most 4.5%. Even though the rates may be going up, they are still way below the 7.1% average from 1990 – 2010!
The best advice I can give anyone who is thinking of buying would be to get out there and buy in the near future. There is a shortage of homes for sale on the market which is also causing many multiple offer situations which drives up prices. If you combine the lack of inventory and the increase in interest rates, the window of opportunity to buy at a great price with a great rate is slowly beginning to close! If you are on the fence about buying, now is the time to get off!
It sounds strange to say that there is a housing supply shortage but it is true! There is a shortage of homes under $300,000 that are traditional sales. There are foreclosures and short sales out there but for buyers that want a traditional sale, there is a shortage which is causing multiple offer situations resulting in unhappy buyers and happy sellers. Now with the spring market starting the shortage will only get worse. (more…)
If you were in love with my old website, no worries, my new website has all the same features and more. Welcome to my new website! The biggest notable change is that my new site is mobile friendly. You will now be able to view my website on your phone or tablet when you are on the go! My website is a useful tool for buyers, sellers and those that just need information on real estate related topics. Stay abreast of the current real estate trends on my home page blog, use my resource list to find services in the metro area, if you are relocating to Minnesota you will find useful tips under the relocation tab and my Minnesota blog provides insight into life in Minnesota, I provide information on Short Sales and Foreclosures whether you need to sell or want to buy, if you need information on schools or communities I have links to many useful websites that can answer your questions or maybe you are just wondering what your home is worth these days, I have a complimentary CMA form. As always I have my listings and a property search tool. Welcome to my new website – enjoy!