Bright Side of the Market
According to the media, in respect to housing, it may sound like the sky is falling. Really, there are more bright spots than dark.
So…What is My Home Really Worth?
The “three A’s” are a good starting point, but when you are ready to put your home on the market, connect with us for a market valuation.
Where is All of the Housing Inventory?
If you read the news and look at the data, we are still experiencing a housing shortage in the Twin Cities. Here are a few insights…
A Look Back at 2021 and Ahead to 2022
2021 will likely go down as being the year with the most record-breaking stats. Will 2022 be any different?
Is it Still a Seller’s Market?
The data says yes. Inventory, buyer demand, and rising prices say that sellers have the advantage. But, is it a seller market for everyone?
Twin Cities Area Has New Hot Real Estate Segment: Million-Dollar Homes
Factors surrounding the pandemic have caused inventory of seven-figure homes to drop in some suburbs.
Where Have All the Houses Gone?
In today’s housing market, it seems harder than ever to find a home to buy.
How Does Zillow Really Work?
Answers to Recent Questions About this Popular Platform
February is a Sweet Time to Get in the Market
If you’re thinking about selling, now might be the perfect time to make the move.
Twin Cities Real Estate Market Changes for 2020
What’s Your Energy Score?
Buyers will be asking this question as they look at homes in Minneapolis this year. Starting Jan. 15th the required Minneapolis Truth-in-Sale of Housing Inspection has now added an Energy Efficiency report that will score wall and attic insulation, heating system and window efficiency. The city will not require a seller to upgrade, but the jury is still out on how this will affect buyers and negotiations.
CLICK HERE for more information about this change.
This video also does a great job of explaining some of the components of the scoring system.
No More Sneak Previews
Over the last few years, “coming soon” or “Non-MLS” listings have been making up more and more of the market. In some hyper-competitive regions the number of houses off-market were exceeding the number on the MLS. The National Association of Realtors recently voted to crack down on this. Changes in the Twin Cities area will eliminate the ability to broadly market homes that are not on the MLS. “Coming soon” will truly mean that the home will be posted on the MLS as a coming soon listing—not sold before you found out about it! Like every rule, however, there are viewpoints on both sides of the discussion. Contact us to talk through the timing and specifics of these upcoming changes.
My House Just Got Bigger
Conventional loan limits will rise to $510,400 from $484,350. Why does that matter? It will allow a buyer to come up with less money to stay within conforming loan prices. This also allows a buyer with only 5% down to buy a little bigger house.
One Thing You Can Count On: the Sun will Rise
And…so will your 2020 property taxes. Expect, on average, to see a 4.7% rise in property taxes. The good news: many of your homes have also appreciated that much if not more over the past few years.
The Kim Pease Team can help ask the right questions that will assist you in navigating your next move.
Contact us if you or someone you know might need some guidance.
