Hello All, from the Angela Sadat Group! We are praying for you and your families every day, as we navigate this “new normal” that we are experiencing in light of the COVID-19 crisis our country is facing. Thankfully, we have the privilege of communicating through many online platforms these days, and though we are disconnected physically, we will never be completely disconnected.
As you may know, the real estate industry has been deemed “essential,” so we are still working (safely and per CDC guidelines) to help those who are in a “must move” scenario. As for the rest of our clients, we are encouraging them to hang out for a little while until we are able to get a handle on things.
Please give me a call if you need help right now or just want to talk about your future plans, as they have likely been put on hold. Our hope is that once things open up a bit, our market will come back to normal, even if a slightly “new normal.” Therefore, this is a good time to plan and prepare so that you are ready when the timing is right. I trust you all are hunkered down for a while, so we will continue doing what we can to help those who need help now, and preparing for the day when all of this settles down and our real estate market can get back to really moving (pun intended;)).
As for ways to connect and how you can support us during this time, we would LOVE it if you would “like” our Facebook page: Angela Sadat Group-Keller Williams Realty. I will be doing updates via Facebook Live and keeping you all up to date on the latest news in real estate, our local economy and changes that we are experiencing as they occur. Please, also follow us on Instagram: angelasadatgrp where we will also post updates and uplifting messages.
In times of uncertainty, we can encourage one another by coming together, even if online, to inspire, uplift and reassure others and ourselves that this too shall pass. In the meantime, let us not waste this unique opportunity to find joy in some of the simple pleasure we still have, and to spread joy by whatever means we are able. Blessings to you and yours; hope to see you soon!
I was recently in a class that centered on mindset and personal growth, and we go onto the topic of Gratitude. Did you know that studies have been done on gratitude and how it affects a person in their daily life? One study actually found that if you write down 5 things you are grateful every morning when you wake up, that your brain will start to naturally scan the world for things to be grateful for?
A couple of examples:
Considering the craziness all around us, and the busyness of life, we can all benefit from scanning the world for ways to be grateful. If you made those calls (I hope you did!), I am sure you are feeling the “warm and fuzzy” of what you thought might be an awkward conversation that perhaps ended in happy tears or heartwarming conversations around gratitude. Blessings to you this holiday season; I am grateful for YOU!
So… The median sales price in the Twin Cities is up 7.2% since last year and the days on market are down 17.9% to an astounding median of 23 days across the Twin Cities… Yet, we are noticing lots of price adjustments and concerned sellers in many areas around our metro area. What is going on?
Well, a couple of thoughts exist in these types of shifting markets. We could be experiencing a slight shift due to the time of year; we always see a little slow down in the fall market which makes it a slightly less stressful time to make a move. The other option? Perhaps we have hit the top and we require a correction. Now, I don’t have the crystal ball; however, a careful look at history as well as current statistics can shed a little light on what we are looking at into the future of our real estate market.
New listings in the Twin Cities hit a low point this April that we have not seen since April of 2014. Although we appear to be going in the right direction (up) where inventory is concerned currently, the builders are building at price points that first-time home buyers cannot generally afford.
So, where are the first-time home buyer homes? Well, the number of new listings priced lower than $190K are down 26.2% this year! The law of supply and demand says that with low inventory, prices go up, right? One factor that we need to remember, however, is affordability. If prices hit a point where it no longer makes sense for first-time homebuyers to buy, we will see a decline. Is it now or is it next year? I cannot say for certain. Looking back in time, we can see the numbers to support any hypothesis, and yet it sure looks like we are getting to the point where affordability will be an issue in our market.
For a deeper analysis on how YOUR home is affected by a shifting market, give us a call! Every property and every micro market is unique and we can help you understand what the best plan will be for your move. Happy to help!
Let’s talk about the fall real estate market. Should you wait until spring if your home hasn’t sold yet?
The question we are answering this month for our market update is whether or not the market is softening.
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.