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!
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.
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!
I was sitting at a dining room table at a builder model the other day… My clients, the builder representative and myself, each equally spread out around the table, e-signing documents for my buyers to purchase a new home. I commented that it all seemed a little too “normal.” And then, the builder rep walked away and came back, announcing, “I’ve got the sanitizer!” Ahhh… Yes! The econo-sized sanitizer bottle brought us all back to the realities of the “new normal” that we are learning to expect-not only in real estate but in all of life.
As we practice social distancing, sanitizing, sheltering in place, and connecting online, as much as we are able, we have realized that everyone has their own thoughts around what “normal” is today and what they expect it to be. As a Realtor, I have learned that my clients still need homes and I am still happy to serve them in whatever way they feel most comfortable. This looks different in every case.
So what is the best practice for real estate related activities for OUR team? For us, it is completely dependent on the unique perspectives of our clients. We want to be sensitive to every need of our clients. Therefore, we have created Zoom listing appointments, Zoom buyer consultations, virtual showing opportunities, private showings with only one buyer group at a time, and we continue to expand the idea of “normal,” where real estate is concerned.
Whereas some see change as an inconvenience, we have found our clients enjoy the ease with which we are able to adjust to the “new normal” and pivot to online consultations where they can meet with me from the comfort of their own computer. There are times we meet in person, as described above, yet much of the pre-listing and pre-buyer work can be done without any contact at all.
Are you considering a move? If so, give me a call and we can discuss your preferred way of connecting, and customize a plan that takes your safety and comfortability concerns to heart. We are always happy to help!
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!
Each year, as the market shifts and market dynamics change, we observe changes in the types of clients we generally see emerging to brave the market of the moment. As we are still finding the Twin Cities to be a market that is low on inventory, with houses being snapped up within the first few hours on the market, we have also noticed a shift in our client base.
Here are the 3 of the most common reasons the buyers and sellers are calling us for help these days:
It’s here! Spring is here!! Now... these sorts of exclamations may have you thinking, “Angela, you need to get your head examined." Yes, I realize there is snow on the ground, it is 20 degrees outside, and we are all hoping and praying the groundhog is correct. Yet, in the Real Estate World, these are the facts:
-We still have a shortage of inventory
-We still have buyers looking for homes
-We still have crazy low interest rates
-Buyers like to be settled in their new homes before summer, so they can play!
-Spring market does not wait for the weather to warm up!
Spring Market? I think so! Get ready for some fun-The Parade of Homes starts March7th, which will bring even more buyers into the market. If you’re moving; you better get moving!
Call today for a free home analysis to determine whether this year is YOUR year to make a move. Also, please don't hesitate to pass this offer of free help along to you brother, sister, co-worker or best friend-we are always happy to help!
We are so excited to meet with clients who are already preparing for their move in 2020. It is a wise decision to get started early, if you are planning your future move. We can make things so much easier when we have a little bit of prep time to make your listing sparkle. Sometimes, just small updates such as paint, a new fixture or two, cabinet hardware and the like can help your home to capture the feeling that buyers can’t resist.
Another technique that seems obvious, but not all real estate teams engage, is staging. As you know from working with the Angela Sadat Group to prepare your home for sale: We are full of ideas and happy to help! Just a little help with furniture placement, the addition of some artwork, and a few well-positioned chachkies can help buyers to feel at home in your listing… and when more buyers fall in love, more offers cross my desk, thereby netting you more money. Not every home needs staging help, yet we are ready and able to step in and do a quick “spruce up,” to help you get top dollar for your home.
Call us first, and let us help-we have ideas, we have “stuff” and we love to help you to get the most out of your home!
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.