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?
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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!

Well, here we are! Can you believe summer has come? The warm weather has certainly warmed up the real estate market. We are finding that as our economy starts opening up, real estate has never really closed down.
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Sellers: This is an amazing time for sellers, as many who have contemplated selling have paused, due to the coronavirus threat. Many of the vulnerable population have decided to wait this out a bit or to move out of their new homes first and sell once they have vacated the property they are moving from. Therefore, those who have chosen to market their homes during this time are enjoying multiple offers and high demand for nearly all properties that are in good repair and ready for an eager buyer to call home. We may see inventory begin to rise as the lockdowns ease up and people start getting back to what “normal” will look like from here on out; yet we would have to see almost triple the inventory with no change in buyer demand to actually find ourselves in a shift to a more balanced market.

Buyers: This is an amazing time for buyers, as well, with the lowest interest rates we have ever seen in the market. Be aware, that as inventory remains low and interest rates remain low, prices will continue to rise, so this will become a factor in the buying decision of many who would like to enter the market at lower price points. We are finding nearly every well priced home in the under $300,000 market will likely see multiple offers. We like to educate buyers before they choose to enter this competitive market, so that they can be fully prepared for the tenacity and aggressive actions needed to secure a home, especially in the lower price ranges.

Your situation is unique. We want to help. If you are looking to make a move, give me a call and our team is happy to assist in every detail, from evaluating whether this is the right time for you to seller or buy (or both!), to the prepping of your home and mindset, to guiding you step by step through the process. We are always happy to help!

We have lots of clients calling us this month to ask us about timing their move from their starter home to a more spacious abode. Here are some of the points we are discussing, as we advise based on current market conditions:

1. You have equity! Since we are at a highpoint in the real estate market, our clients are realizing that they can move equity gained in their current home into their next home, thereby putting more money down, securing an amazing interest rate and purchasing a new home that truly fits their family’s needs.
2. Mid-range homes are moving quickly, often in multiple offers! If you currently own a moderately priced home, you are in the driver’s seat where offers are concerned. Many buyers are willing to work with whatever closing date you prefer, thereby allowing you to find your next home and close on both with ease.
3. There is more inventory in higher price ranges! Concerned with how you will find the next home, given our inventory shortage? You are covered! The inventory of larger homes is more plentiful than in the lower price ranges, and we will make sure that you find the dream home that fits all of your needs in the time frame you desire.

Is your family growing and you need more space? Are you ready to move from townhome to dream home? Do you know anyone like this? We would be happy to help. Call today for a free consultation. Let’s dig into your hopes and dreams for your next move, so we can determine if now is the right time for YOU.

Many of our clients are calling us early this year, as they are getting the “itch” to get moving on moving (did you get that?). Good move! As we start a new year and look at some of the changes in our market, I have been encouraging our clients to start planning now, so we can make sure they are educated and that they have a plan in place for that moment when they finally realize-It IS Time! So, what is going on in the market and how does it affect you?
As you have likely noticed, interest rates have crept up slightly from last year, and are hovering around that 5% mark. This is still being regulated by the Fed slightly, and we really should be up closer to around 6%. Will 6% happen this year? No one can say for certain, yet I would say that if you know your move is inevitable, we should get together and start planning sooner than later, as a 1% rate hike can certainly affect affordability in every price range (unless you have cash, of course!).
What about inventory?
Well, as we look at our stats that wrapped up 2018, we notice a few things. First off, our months supply is still a lowly 2.1 months of inventory overall. This is down 8.7% from the previous year. Remember, a balanced market is around 6 months of inventory, so it is still a great time for sellers.
Never fear, buyers! We are seeing more inventory, in most of our price ranges and areas, coming onto the market this winter. We should see more houses for you to choose from, if you are looking to make a move. Homes for sale is slightly down overall, yet in some of our mid to higher price ranges (think $300,000 and up), we have seen a 10.5% increase in listings. Good news, as this market shifts into 2019.
Overall, we are noticing a slight shift in the market, yet the outlook for 2019 is a positive one for those with a move on their radar. Every area within the Twin Cities is slightly different where these trends are concerned, so if you would like a more in depth look at YOUR area, we would love to share it with you. Give a call, shoot us a text or an email and we would be happy to spend some time with you discovering the best strategy around your plans this year!

We meet with clients who have all kinds of needs each season and one of the greatest needs they share with us is to understand the extent to which they need to prepare their home for listing. We often meet them months or even years before they actually plan to make a move. This has been a great opportunity, as we do believe that a picture perfect listing is not only guaranteed to sell, but it also sells for more money than the average “unprepped” listing. As the Market has turned toward favoring sellers, many agents are suggesting that sellers “just list it.” Though there are instances where the “just list it” method is employed, here is a short story that tells another perspective.
John and Jenny* were looking to make a move across town and they hired a local Realtor who seemed to sell a lot of property in the area. The Realtor came and evaluated the property, told them to just get it onto the market quickly, staging and details don’t matter… 30+ days later and no offer, not even many showings… John and Jenny are dismayed and wondering what they’d done wrong? They decided they wanted a change in representation and after several interviews, chose The Angela Sadat Group for their fresh perspective and team approach. Angela, her stager, handyman and the rest of the team got together and helped with suggestions and staging “on the spot” which led to a successful sale and closing just a few weeks later. The details mattered!
Just a few small tweaks can help your home to sell more quickly and for more money than the average listing. These preparatory steps can actually mean the difference between selling and not selling in certain sections of the market. Call us today and let us help you to win at the highest level in this market and put more dollars toward your next home-we’ll make it easy for you and promise smiles all around at closing!
(*Names changed for privacy)

How do you know if it is a good time to sell your rental property? Great question! We have had several clients that have called us this year to inquire as to the market conditions this spring/summer and whether now would be the time. Of course, my first inclination is to exclaim a resounding, “Yes!!! We have low inventory and you will get top dollar in this market!!!” Yet, we should really slow down just a moment and ask a couple of key questions before making such a decision…

1. Do you want to be an investor or was the rental idea a short-term plan? Many of our clients bought properties that did not suit their needs, yet when the market was low, they could not sell them to make the move they needed to make. Therefore, renting the property out for a few years was a great solution. For these clients, however, their long-term plan was not necessarily to keep the property as an investment. If this is you-it is a great time to sell!
2. Are you an investor who is looking to do a 1031 exchange? We have several clients who do intend to invest in real estate at various levels, and they would like to exchange a more seasoned property for a new one to maximize their tax advantages, etc. If this is you, we need to talk! Due to rising prices and slim picking, this may or may not be the best time. I cannot diagnose this sort of move until I know the stats on the existing property, so we can meet to discuss the details and see if now is your time!
3. Do you want to exit your rentals and retire from property investment? Then yes! In most cases, we can plan a strategy around selling the rentals that will maximize your gains and minimize capital gains loss, etc.-with the help of our CPA, of course!

There are various types of investors in our market. If you are one who is looking at selling a rental property or simply making a switch, give us a call and we would be happy to consult you on your situation and decide if now is YOUR time.

Well, here we are again (finally!): Spring has arrived, the snow is melting and buyers and sellers are ready to go! If you are considering a move, you may have some trepidation as you look at statistics and news reports that tell the tale of “no inventory.” For this reason, we are going to reprise a few tips that we sent out around this time last year, as they are very applicable for those of you considering your move this year!
This is a fantastic “opportunity market” for many of you, so do not get frozen in logistics. Let us help! See below for where we start the conversation of “selling then buying” and the give us a call to discuss the details of your situation and to create a plan for success. Here we go:

• Get ready to sell quickly – In this scenario, you have your current home show ready and we have you preapproved to purchase the next home while still owning the current home. If you qualify for this, we write a non-contingent offer to secure the new home and as soon as we have that contract solidified, we list the current property and sell it quickly and we may even be able to coordinate closing dates so that you can access the equity from the first home for the closing on the second!
• Buy first, sell a few days/weeks later – What if you must close on the new home before you can access the equity from the current home? There are mortgage programs that allow you to put a minimum amount down and close on your new home, and will allow you to “recast” the loan, allowing you to put the rest of the down payment into your loan terms to lower the payment and reduce or remove private mortgage insurance. Call us and we will connect you with the right people to discuss this option.
• Sell first and find a home quickly – Many of our clients prefer to sell their current home and ask that the buyer to agree to a longer closing period so they have time to find the next house and close both on the same day. If inventory is not too tight in the location and price point you are looking at, this can be an easy option.
• Sell first, rent, then buy – Sometimes money is tight and inventory is tight and yet you know you want to move. It may be that if you want to net top dollar, a “sell first and short term rental” option might be just the ticket. Though you will have to move twice, this option gives you the freedom to find the right home in your own timing.

When inventory is tight, we must get creative, so call us if you would like to discuss options to make your upcoming move a smooth as possible-we have a team of experts in every area and we are happy to help!

Many of our clients are excited about the state of the market and yet they are questioning what happens if they find themselves in a multiple offer situation. Clearly multiple offers can be stressful for buyers as well as for sellers; let’s focus on the buyer side of things for now. You have found your perfect “place to call home” and you are ready to write that offer… Then… You find out there are other buyers who also want to call this property their home! Yikes! Well, fear not, there are several things we can do to make your odds of securing the home more likely!
1) Write it clean and be non-contingent. Coming in contingent, asking for closing costs and trying to get a better price in multiple offer situations is not advisable, in most cases. We always evaluate the market before writing an offer, and it is likely that if several buyers want the property, it is priced right.

2) Ask about preferred closing timeline. Does the seller have a preferred date for moving? Can you be flexible? This is a term that will often come into play when the seller reviews offers and if you can be flexible, you just might win!
3) Write a “love letter.” It can be seen by some as cheesy, but to a seller with a lot of emotion and many memories tied to the property, letting them know a bit about you and why you love the home can be a game changer (add a picture for extra effect!).
4) Hire a proactive buyer’s agent. A good agent will not just email over an offer with no word of explanation or rapport building. Listing agents want to know who they are going to be working with. A great buyer’s agent can build a relationship with the listing agent that will encourage them to feel comfortable working with them, and with your offer, over others that they know nothing about. They do not want the deal falling apart, so a proactive buyer’s agent shows they will work hard to make the transaction a smooth one.
5) Offer over list price?? Sometimes, when you know a property is possibly even under priced, or there is high competition, you may have to write your offer for over the listing price, if you are able. This is case by case yet can be a necessary step in winning. There are many other helpful tricks we use to win in multiple offer situations and each scenario is different. We endeavor to find out as much as we can ahead of time to ensure we are structuring the best and strongest offers for our clients and we have had great success in winning for our buyers! Call us today to find out how we can structure your move and make it a successful one where we handle all the details and close with smiles. 😊