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Sunday, September 14, 2014

4 Reasons to Buy That Crow Wing County Home Before Winter


Seasons are quickly changing here in northern Minnesota. Those changes will bring the holiday season upon us before we know it. If you are on the fence about if now is the perfect time to buy your dream home in Crow Wing County here are a few reasons why you should buy before winter.


1.  Project Mortgage Rates Increase
Recent reports from Freddie Mac showed that interest rates for a 30-year fixed-rate mortgage have lessened recently. However, many experts are predicting that they will start increase in the months ahead.  All major housing authorities are predicting rates to be up nearly a full percentage point by the end of 2015.

2. Rising Prices
A recent poll of over 100 well known economists, housing market analysts, and investment strategists released shows that they predict home prices will increase. They are predicting that over the next five years home values on the pessimistic side will increase by 11.2% and on the optimistic side they will increase by 27.8%.

3.Paying Your Mortgage
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” As stated in a recent report by the Joint Center for Housing Studies at Harvard University.

4.   Time For A Change
The cost of a home is determined for most buyers based on the price of the home and the mortgage interest rate. All indications point to the fact that both home prices and mortgage rates are on the rise. Now is the time to buy before these two factors go any higher.


If you are looking to buy or sell a home in Crow Wing County this autumn, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.
Licensed in Minnesota/ Lic # 20204156

 

Monday, September 1, 2014

Why You Shouldn’t For Sale by Owner

If you are considering selling your Crow Wing County home you may have thought about selling it yourself as a For Sale by Owner (FSBO). Here are a few reasons why it is in your best interest to choose an experienced real estate agent to help you.

1.Negotiations

How comfortable are you at negotiating?  If you are thinking of trying to sell your home on your own be prepared to negotiate.   Here are just a few examples of where you will find yourself in negations:

  • The buyer wants the best deal and will more than likely try to negotiate a lower price
  • The buyer’s home inspector will almost always find something wrong with the home leading to more negotiations
  •  If the appraiser returns with the value of your home lower than you anticipated this could lead to more negotiations.
  •  The bank in case it results in a short sale.

2.Marketing

Recent data trends show that nearly 92% of homebuyers are looking online for their new home. In comparison, only 28% are looking thru local newspapers.  An experienced real estate agent will have an extensive marketing strategy that will promote your home in multiple places online. Do you have that capability?

3.Buying Results

We know that 92% of homebuyers begin their search online, but how do they find their home in the end?  Only 1% found their home they bought via the newspaper, 9% from a sign in the yard, and 43% found their dream home on the internet.  Having a strong internet presence is a must when it comes to selling you’re a home. Choosing an experienced real estate team with high Search Engine Optimization will help get your home sold quickly and for top dollar.

4.Paperwork

With industry changes after the recent housing decline the amount of paperwork that goes into selling or buying a home has increased.  As a result of the amount of new mandatory regulations and disclosures the number of homeowners selling their home on their own has decreased from 19% to 9%.

5.More Money In Your Pocket

Believe it or not you are more likely to end net more money using a real estate agent than not. A recent study showed that a typical FSBO home sold for $184,000, while a typical house sold by an agent sold for $230,000. This does not mean that the agent would be able to get you more for you home. This shows that people choosing to do FSBO are in lower price points.

Before choosing to sell your home by owner we would love the opportunity to sit down with you and show you the options we have to offer and how choosing an experienced real estate team can help you. If you are looking to buy or sell a home in Crow Wing County , contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

 

Monday, August 25, 2014

Brainerd First-time Homebuyers Do Not Miss This Home Buyer Workshop

If you are considering purchasing your first home then you do not want to miss out on this upcoming homebuyer workshop in Brainerd. The workshop is being put on by Home Stretch and is a first-time home buyer workshop where attendees will be walked thru the entire home buying process. Throughout the day you will learn what you need to know about financing, credit, how to qualify for a mortgage, how to find the perfect home, maintenance of your home, and the closing process.  The workshop will take place September 22nd, at the Brainerd Public Library from 10 a.m. to 7 p.m. Central Minnesota Housing Partnership, which is a nonprofit organization that helps provide affordable housing services through Minnesota, is coordinating the Home Stretch workshop.  Registration is required to attend the event.  To register for the workshop visit www.cmhp.net, or contact Trista at 320-258-0681 for more information.

There are many programs available to first-time homebuyers such as government loans, closing and down payment assistance programs that may require you to have a certificate from Home Stretch to qualify. If you are considering purchasing your first home do not miss out on this opportunity to get your certificate now.

If you are not able to make it to the workshop then consider taking the homebuyer education calls that is offered online.  The new online tool Framework will provide you with all you need to know about becoming a knowledgeable first-time homebuyer.  Framework has been approved by many lenders to meet the homebuyer education requirement. To register for the course visit www.cmhp.net.

If you are looking to buy or sell a home in Crow Wing County this summer, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Sunday, August 17, 2014

Crow Wing County Monthly Market Report

The Crow Wing County housing market continues to slowly improve. The latest data from July shows that the number of new listings rose by 3.4% over this time last year, and the number of pending home sales rose by 10.9%. Pending sales are a good indicator of what we are going to see happening in the market in the few months to come.  Closed sales were down 9.7% from this same period of time last year, but with the increase in pending home sales there is no reason to be concerned.

Homes are selling quickly. The median days on the market dropped 27.3%, and the average days on the market dropped 18.7%.

A majority of areas across the country are seeing home prices increase, and we are seeing the same here in Crow Wing County. The median sales price increased by 13.7% to $183,750. The median list price rose slightly over this period of time last year to $199,000, an increase of 2.1%.

For the month of July sellers received on average 96.8% percent of last list price, an increase of 1.7%.

If you are looking to buy or sell a home in Crow Wing County this summer, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

Monday, August 11, 2014

30- Year Fixed Mortgage Increased for the first Time in a Month

Not only are home prices on the rise but it appears so too are mortgage rates. According to the recent report by Freddie Mac that was released last Thursday the average rate or a 30-year fixed mortgage increased to 4.14 percent, up from 4.12 percent.  The average 15-year fixed mortgage rate increased to 3.27 percent, a slight increase from its previous 3.23 percent.  This is the first time rates have increased in four weeks. In comparison, the 30-year fixed mortgage hit its record low in November 2012 at 3.31 percent.

Mortgage rates may have increased, but they still remain close to record lows.  30-year mortgage rates declined from a two-year high that we saw in August of last year at 4.56 percent. As a result many current homeowners refinanced to lower their monthly costs. For the week ending August 1, the number of homeowners seeking to refinance jumped to 54.5 percent. This is the highest number we have seen since March, according to the Mortgage Bankers Association. More and more homeowners are realizing that they need to take advantage of these low rates before they continue to rise and as a result are choosing to refinance.

If you are looking to buy or sell a home in Crow Wing County this summer,  contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156

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Questions?
Call the Real Estate Professionals at Up North Properties
218-820-7355
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