Review – 2016

With the New Year come new opportunities, new adventures, new stories, and new potential.  If we learned anything from 2016 it is to always expect the unexpected, hope for the best but plan for the worst, and never shy away from a risk.  This holds true to our daily lives but also real estate. The Minnesota real estate economy started off hot with an early spring surge that did not slow down until late August, and even then really held strong and remains strong.  The normal marketing time for a single-family home in the metro area was 30 days down… Read More

“Winter is Coming”

With kids heading back to school and holiday decorations taking place of back to school items, it is only a matter of time before old man winter is upon us.  Here are some home help tips to consider when packing away the summer items.   Clean the gaps between your deck boards Check all weather strips and caulk around windows and doors Clean your garbage disposal by grinding up cups of ice cubes Pour a gallon of water down unused drains, including floor drains Drain half of your water heater Give your furnace a 24 hour test run Clean out… Read More

Election and Mortgage Rate

With the presidential election only a few months away, buyers and sellers are wondering what will happen with the mortgage rates.  Will the go up or will they drop as many economists are forecasting.  This is a very common question and a number of stories and studies have been written and published regarding this relation, and all of the studies show that the presidential election has no direct affect on the mortgage industry.  However%

A Record Year!

There has been a lot of talk about real estate values surpassing the 2006 record, but a lot of information is being left out.  For instance you hear little or no discussion about average days on market, inventory levels, pending sales, or if we are in a balanced market or a lopsided one.  Now I could go into great detail but I think the article written by Aubray Erhardt sums it up more effectively then I could.  So if you are thinking about selling, purchasing, or have general concerns or questions, I would highly reccomeend you reading Erhardt’s article: Ten… Read More

Breaking ground in “The Grove”

Ryan Companies US, Inc and Park Nicollet have broken ground on a 26,000 square foot medical building in Maple Grove which is the first addition of a planned 600,000 square foot addition to the North Memorial campus. Other additions planned for the 200 acre development site, “The Grove” shopping district, will also include a Target, Home Depot; and a 138,000 square foot strip mall.  For more information please visit RyanCompanies.com.

Fed increasing rates? Seems Unlikely.

At the onset of 2016, the Federal Reserve had planned on raising interest rates four times over the course of the year.  However, since the last rate hike in December of 2015, the Fed has changed their tune and is now only planning on two hikes; the first of which could take place this July.  The reason for the reduction in hikes is due to slow economic growth and the uncertainty of the United Kingdom staying in the European Union, which as of today (6/20) has the referendum passing by a very slight margin of 44% to 43% with 2… Read More

Wealthy Americans

The National Association of Realtors just came out with a new article about how the consumers confidence regarding the real estate market has grown over the past 18 months.  However, as home values appreciate, the pool of buyers is dwindling due to affordability.  You can read the article in its entirety here: Americans Are Feeling Wealthier, More Upbeat Meanwhile, here in Minnesota the consumer confidence is still very strong with many homes surpassing buyers expectations.  Homes, listed appropriately, sell within 30 days of hitting the market, but now that we are heading into the summer travel season, both buyers and… Read More

Wells Fargo and “YourFirstMortgage”

Last month, Wells Fargo launched a new product called “YourFirstMortgage” which was created for first-time buyers and low-to moderate-income buyers.  The premise behind the product is to assist first time buyers or buyers with limited available funds to purchase a home through a 3% conventional loan with a mortgage of up to $417,000.  The difference between this program and other 3% conventional loans are as follow: Buyers can utilize gifts and community-assistance programs for the down payment  Minimum FICO score is 620 Homebuyer education courses are NOT required but if taken may help reduce the interest rate No income limit… Read More

For the discouraged seller

If you are selling your home in Carver County chances are you are getting a bit discouraged at the moment.  While it is true that traditionally it is best to list your home between the months of March and June, this year we experienced an early spring market which officially started back in February and with an early spring means an early summer.  The market peaked back in April with inventory hitting a yearly low of only three months with it climbing back up to approximately five months here in late May.  What does this mean exactly?  Well, basically it… Read More

Home Purchase & Education Go Hand in Hand

For many families, schools are an essential consideration when searching for a new home. However, most property searches only offer property related criteria such as price, beds, baths, and square feet. As such, locating properties that meet the criteria for your family and your child’s education can be challenging, especially when you are less familiar with an area. For this very reason, this website provides you with the ability to incorporate school ratings directly into your property search as a primary criteria.  Additionally, you’ll have access to detailed information and statistics on local schools and neighborhoods on every listing detail… Read More