There is a lot of confusion in our marketplace right now and our clients are wondering: Why is the inventory so low?? This question begs another question: When will this end?
Well, these are great questions and there are several answers. Let’s talk about a few.
As uncomfortable as this market can be, we are encouraging our clients more than ever, that if moving is on your horizon, sooner is better. I’m not saying we are becoming California, but we might be becoming California. As investor penetration increases in major cities, they find themselves in a predicament where homeownership just can’t make sense financially for much of the population.
Want to discuss how this affects you? Let’s chat. Call, text or email anytime to set up a quick consult. Facing reality helps us to navigate our options and set a plan for success!
We love helping our clients with their moving complexities. Sometimes the prospect of a move, with all of the “moving” parts, can seem overwhelming; and yet, we come along side to help to make the process as smooth as it can possibly be. We have been very successful in helping so many to achieve their goals, that I thought you might want to hear about it! Here are just a few of the complex situations we have been able to help with.
Well, you have probably heard by now... "Unprecedented lack of available inventory" is the song we are singing in the real estate realm. Most of our cities are under 2 months of inventory and buyers are looking for homes! Many are looking for changes in floor plan and more space, to accommodate working from home and schooling from home. We also have lots of clients looking to move from their traditional 2 story home into a one level home. And yet, many are hesitant to list their homes, because they will then have to find a home to BUY... And that's the challenge.
Never fear! We know that more inventory will come each month, and there will be homes to buy... for serious buyers. This is not a time to dabble in real estate; this is a market for serious buyers. When your motivation is there, the home shows up. I have experienced this hundreds of times and it never fails. Whether existing or new construction, somehow our buyers always find a great home when they're truly ready.
Are you ready? Do you want to discuss your options to find out if you're ready? Please reach out! I'm happy to chat about your unique situation and help you to make a plan for your move. Whether you're ready to move tomorrow or in 2 years (or more!), we are always here and happy to help!
We often hear, in the real estate realm, that Spring Market is when everyone comes out to buy and sell homes. True, spring has historically been the busiest time for real estate, and our stats for spring generally show marked increases in listings, sales, pricing and overall movement (no pun intended;). However, we have been noticing that over the last couple of years, home sales just haven’t slowed… at all. Certainly, there have been temporary “bumps” in the real estate road, such as the start of COVID-19, the election, and other short term hiccups; yet, we are finding that home sales just keep climbing in number (and price!).
As of December 2020, we have the highest number of pending sales since May of 2005, and we may crush 2005 numbers yet this year (it is only January!). So, it seems spring is here… all the time. There is no bad time to list your home or to buy a home, in the current environment. So, the good news is that your timing is really up to you.
Now, we must keep in mind that as demand rises, prices rise, as well. Therefore, if you are a buyer who is ready to buy, I certainly recommend jumping into the market as soon as you can. Due to the lack of inventory, many of our buyer clients are going the new construction route, if prices are in line with their goals. I am a new construction expert, so I would love to discuss this option with you!
As for listings, the lack of inventory has been a great advantage for sellers; especially for those who are not in price points that are competing with new construction. Even with new construction booming, however, our luxury clients are seeing amazing returns on their properties, as many luxury buyers prefer established neighborhoods to new neighborhoods.
There is something for everyone this spring, and it all starts whenever you want it to. Are you wondering what YOUR best path might look like, as you consider a move? Please reach out! Let’s chat about the details and create YOUR plan for success!
From Our Team To You… A December to Remember?
December is a month to look back on 2020
To consider, with gratitude, that God has provided for us plenty
To remember our clients, our family, our friends
To be thankful these relationships seem to have no ends
December is a month to look back on our year
We, as a team, have many reasons to cheer
We have enjoyed helping sellers, we’ve had fun helping buyers
We hope that YOU all have enjoyed these fun flyers!
December is a month to look forward with hope
To plan something amazing and not merely “cope”
To cherish all our blessings and those whom we hold dear
To wish you “A Merry Christmas and A Happy New Year!”
Well, we are almost to the end of a year none of us will forget! As we consider how 2020 will look in the rearview, I am sure we all have various emotions, memories, “things we’d like to forget,” and “did that really happen?” moments we will pull from in the future. Many of us will remember 2020 as a rollercoaster ride that seemed it would never end and we pray that 2021 is a calmer year. And, many of us will also remember how this year taught us to be grateful for the ups and downs we encounter in this life.
So… What are you grateful for right now? As we approach the Thanksgiving Season, it is always a wonderful opportunity to reflect on the year, and consider: how we have grown, what we have learned, how we have been challenged, ways we have overcome adversity, and how a year like 2020 can serve to strengthen us rather than squash us. What are you grateful for, as we wrap up the year 2020?
We at the Angela Sadat Group are grateful for YOU. I am grateful for each one of you. So many of you have supported us and cheered us on this year. So many of you have sent your friends and family to us so that we could help them to achieve their goals of making a successful move. So many of you have reached out with questions as well as encouragement during a tumultuous time. And we are so grateful for YOU.
As we look forward to this season of gratitude, may we come together, in whatever ways we can, to serve one another, encourage one another, and to be grateful for the abundant blessings we find in living through the ups and the downs of life. Many blessings to you and yours this Thanksgiving!
Many of our clients are asking for advice regarding the historically low interest rates we are enjoying right now. Granted, this is an amazing opportunity for many of you, and if you currently have a rate that is over 4 or 5%, we should really have a conversation. The question you will want to consider is this: what is your plan for the next 5 years?
Many of you are planning to stay in your home for another 5-7 years. Perhaps you just recently moved or you have no plans to move for many years. If this is where you see yourself, certainly, a refinance might be in order. Rates are indeed amazing!
On the other hand, if you are planning a move in the next 5 years, you would be wise to give us a call to discuss the implications of a refinance before jumping into the process. Refinancing is not without costs associated. Many times, these costs can be wrapped into the new loan, but they are still costs you will eventually pay. Because of this, we will want to evaluate the savings versus the cost of the refinance and determine the best financial move for you and your future.
We have a fantastic loan specialist who is happy to chat over these details with you, so do not hesitate to reach out if you have questions about your specific situation. We want to help you to make wise decisions where your home and loan are concerned and we are always here to help!
Have you been sitting on the fence where your move is concerned? Well, we have some interesting market dynamics that may change the landscape slightly (perhaps more than slightly…). We have many clients who are in the process of building new homes right now, and most of these builders have repeated a slightly concerning trend. Lumber costs appear to have doubled or even tripled in some cases, and this will certainly affect the new construction realm as builders begin repricing to adjust to the new numbers being quoted to them.
What does this mean for you?
Some of the builders will not be in a position to absorb these costs, and they will have to raise prices significantly in order to continue to build quality homes. Other larger builders may slowly increase pricing to avoid shocking the market and yet help offset the “new normal” where their lumber costs are concerned. Either way, if you have been “on the fence” where your move is concerned, it may be time to move into action. If building costs continue to increase rapidly, this will cause similar existing home prices (especially in the move up realm) to continue to increase. If you were considering new construction, we should be meeting with builders now, to lock in Parade of Homes promotions and current pricing before adjustments start to be made on a larger scale.
We never know exactly how these price changes will affect the market as a whole, yet we can predict some possibilities, as we look to the future of our local market. Would you like to discuss these dynamics further? Call me and let’s set up a time to chat and get your plan moving!
Whether you are selling, buying or staying put, you might be thinking about whether your home is still working for you. This time of staying at home, possibly working from home, and schooling children from home, has taught all of us to appreciate our homes and to better understand what we need in our home. As you consider your current home (or your dream home, for that matter!), what does it look like? What spaces are you using? What spaces could be better utilized or repurposed? Could a little bit of creativity and some time spent (and maybe a little bit of money) allow you to create spaces that work better for you in this unique time in history?
I want to encourage you to dream a little. Consider the spaces in your home. Could that guest room, that is very seldom used by guests, be dually purposed as an office space? Could the lower level rec room be split into a part rec and part homeschooling or distance learning space? How about the loft? Could this serve as a work from home station for part of the day?
As we consider what many are calling the “new normal,” more and more buyers are looking for office spaces and distance learning areas as a part of their search criteria; and if we get a little creative with the space each home offers, we can come up with new and innovative ways to make the best use of every floor plan.
If you are selling, I encourage you to consider strategically staging an office space in an area that makes sense for your floor plan. If you are buying, I encourage you to really consider the utility of each space that is on your wishlist and think creatively about how you might use each space. If you are staying put, perhaps you want to do an inventory of your current use of space (I know I am!) and consider whether each room is being used for its greatest good. If you need help getting into this mindset or preparing for your move, call us! We are always happy to help get you started, and we can get creative together.
Well, here we are. We are nearing the latter part of summer and the market is still going strong. Historically, we have noticed a slight slow down near the middle of July, and the market picks back up in September, but we are in a whole new world where real estate is concerned! With interest rates dipping lower and lower, prices inching higher and higher, and buyers jumping in at all price points, we have found a “new normal” yet again. The “new normal” is that the real estate market just keeps moving (no pun intended…).
According to our Twin Cities sales data, June sales were up 6% from this time last year and new listings are still not keeping up with demand.
This begs the question from many of our sellers: Do I have to (or should I) update a few things before hitting the market?
Answer: It depends (I know you love that answer!). One of the first questions we should answer in evaluating your specific situation is: “What are your goals?” If you are looking to net top dollar and are not bothered by a few to-do’s prior to listing, you will find that even small improvements will net you more money than the dollars you put into them, once you receive offer(s). And never fear! We have contractors and stagers that can help!
On the other hand, if you are looking to have a quick, low involvement sale and really would prefer to do NO improvement prior to listing, this is the market to do it in. With the low number of homes for sale, you have very good odds of selling well and netting a good sales price. Note, that this is a good sale price, not top dollar.
So, the question is really yours to answer and we can help advise you as you answer it. Many of our clients choose us because we are happy to come and discuss the implications of a few improvements versus no improvements where their listing is concerned. Which improvements will get us the best return/result when we list? Is it worthwhile to replace carpet now or offer an allowance? Should we repaint or leave it? Lots of questions, and we have answers. Give us a call and we are happy to help!
Welcome to our blog. We hope to be able to provide you with some valuable resources about selling and buying a home in the Twin Cities. We may also include a favorite recipe of ours from time to time, so check back often.