Why Should You Buy a Home During the Off-Peak Season?

Minnesota Real Estate Podcast With Chad and Sara Huebener

Minnesota Real Estate Podcast With Chad and Sara Huebener

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Not many artists actually hail from Tennessee, but the scenic valleys and rolling hills of The Volunteer State are part of Dustin Lynch’s DNA. In this episode of On the Bus, Country Thunder CEO Troy Vollhoffer sits down with Dustin to discuss his journey from playing fraternity parties and weddings across the southeast to being the first country artist with a club residency at the Wynn in Las Vegas. Plus, stick around for our new segment, Thunder Strike, where Troy features upcoming festival performer Riley Green’s hit song “Damn Good Day to Leave” to give you a taste of what’s to come at Country Thunder in 2025.…

7 років тому

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When people think of buying a home, they often naturally gravitate towards the spring market. As a result, spring is a common time for buyers to enter the market. However, buyer traffic is very heavy in the springtime. In low inventory markets, some of our listings may get as many as 25 to 30 showings over the course of one weekend in the spring. As a buyer looking to buy a home, particularly a first home, it can be intimidating to buy a home in the spring. It may even feel hopeless at times. The benefit of trying the market in an off-peak season is that the buyer is able to explore what’s out there without all of the competition. Shopping for a home in off-peak seasons like fall and winter also increases the likelihood that you will find a home. “You will be able to explore your options without all of the competition.” If you are searching for a home this winter, we recommend that you get written verification from sellers regarding certain winterization projects. After all, the AC unit should be shut off and the sprinkler system should be winterized, which means the inspector won’t be able to test them in the winter. Just ask for the seller to confirm that those things were working before they were properly shut down in the fall. If you have any questions about buying a home in the winter market, just give us a call or send us an email. We would be happy to help you!

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Why Should You Buy a Home During the Off-Peak Season?

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Minnesota Real Estate Podcast With Chad and Sara Huebener

1
Your March 2022 Real Estate Market Update

3 years тому

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Here’s what’s happening in our market as we head into spring. Let’s talk today about the early spring market. Our state association of Realtors says that the number of closed sales fell by 50% compared to March 2021. If the market is so hot, how can we sell fewer homes? It’s just because we don’t have enough homes. It’s hard to sell properties when there are none available. The new listings in March of this year were down 45% compared to last year. Statewide, our inventory shrank by 25% down to one month of supply. Our inventory crunch is just continuing to build. What does this mean for sellers and buyers? One topic we’ve covered in our office for a few weeks now is buying power, or a buyer’s ability to purchase a home. Obviously, this impacts buyers, but it can also affect sellers. “These rising interest rates affect both buyers and sellers.” Right now, rates are around 5%. Two months ago, they were around 4%. If you were an entry-level buyer looking at a $450,000 home two months ago, you could only afford a $400,000 house now. That’s a big decrease in the type of home you can afford. For sellers, that means that your buyer pool has shifted. If you’re selling a $400,000 house, you’re now marketing to buyers who were looking at $450,000 properties not too long ago. That takes a different strategy. You have to understand what that means for you. These interest rates are very fluid right now, especially since we’re entering the spring market. Even with the inventory shortage, we’re still seeing a lot of interesting offers and strategies. If you have any questions about our local market or real estate in general, please call or email us. We would love to hear from you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
Is Your Valuation Accurate?

3 years тому

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Please take a close look at your valuation notice when you receive it. Today we’ll talk about the property tax valuation notices for Scott County that were recently sent out. It’s no surprise property values increased last year, but is the county’s valuation accurate? We’ve been talking to past clients about the valuations, and we’re seeing a fairly consistent 20% increase in taxable value from 2022. We ran some reports on Scott County to see how much the median sales price increased over the past year. Across the board, Scott County is fairly consistent at 10.1%. The average sales price increase wasn’t much higher at 10.9%. The different cities within the county all hover right around that same amount, with the exception of Prior Lake. Some of the increased values we’ve seen seem to be accurate, and some are noticeably higher, so be aware of that when you get your valuation and take a look at it. Make sure they make sense to you. If we can help answer any questions for you, reach out to us at any time by phone or email. We look forward to hearing from you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
How To Prepare for the Spring Market

3 years тому

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Here’s how sellers can prepare for our spring market in Minnesota. When we meet with sellers this time of year, we usually advise that they have their homes ready for the spring market around the time of the Super Bowl. It still feels like winter, but about that time is the opening of our Minnesota real estate market. This year we’re seeing more historically low inventory levels than ever before; in some price points, there are almost no homes for sale. On New Year’s Eve, Sara showed a $400,000 home in the South Metro, and it was crawling with people. There was nowhere to park, people were all over the back and side yards, and though they were respectful of others’ space in the home, it was chock full of people. That proves how active this price point is and that there aren’t enough homes to see. “In some price points, there are almost no homes for sale. ” One of the most frequent questions we hear is how sellers can prepare their homes for sale when they have no competing inventory. We address that valid question on a case-by-case basis because, in this environment, some things you would have had to do in the past aren’t needed now. We’re also commonly asked how to begin the process of selling in this fast-paced market. That starts with you giving us a call; we’ll come out to see your home, discuss the market, what needs to be done to prepare, and make a plan for your goals. If you have questions about preparing for the spring market or any other real estate matter, please give us a call or visit our website. Also, if you have a topic you’d like us to discuss in a future blog, please let us know. We’d love to help you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
How Was Last Year’s Real Estate Market?

3 years тому

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What trends emerged from 2021 that will predict the market next year? It’s hard to believe, but we’re nearing the end of 2021. This has been a pretty crazy year in real estate, so today we want to take a look back and wrap up 2021’s market for you. It’s hard to remember at this point, but even before COVID in 2020, we had low inventory. Once the pandemic started, inventory dropped even lower, leading to one of the craziest seller’s markets we’ve ever seen. This trend continued in 2021, and we saw a very busy spring and summer season. If you’ve watched our videos before, you know that 2021 was what we call seasonally normal. This means the market tends to be more active in the spring and summer, and it cools off as we head into the fall and winter. Besides our low inventory, you could say this market is fairly average. “ The story of 2021 was low inventory. ” However, the low inventory changes everything. Even during the holiday season, buyer demand is unsatisfied. Because more people are working from home, we’ve seen many people moving. This could mean they’re moving out of the city or out of the state, but it seems like a lot of people are taking the work-from-home opportunity to make a move. We’ve also seen folks take advantage of our low interest rates and try to upgrade their living situation. A lot of people moved from their starter home into a nicer one this year. Meanwhile, single-floor townhouses didn’t see much activity. There was demand, just not at the price point sellers were asking. This puts a bow on 2021, but that just means it’s time to start looking forward to 2022. We don’t know what the future holds, but if you’re looking to make a move, now is the time to start planning. If you want to discuss your plans for next year, please call or email us. We’d love to help in any way we can.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
An Update on Our Prior Lake Market

4 years тому

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Here’s a really quick end-of-summer/early fall market update. We’re here with an end-of-summer or early-fall market update. First, let’s talk about what we’d expect a normal market to look like for comparison. We’ve seen a bit of this in 2021 during the summer. Right after school ended, activity slowed down a bit before picking back up towards June and July. Once it gets close to the start of school, it slows down again. All of this is normally what we see around this time. It’s been kinda nice after the non-stop abnormal market of 2020. “ It seems like the market is normalizing a bit.” If the slowdown in June surprises you, remember that this is the first real summer we’ve had since COVID. People were taking some time to settle into normal routines and take vacations. You might be wondering how this affects the pricing. Pricing has been really interesting with the increase in multiple offers in spring. It has caused an increase in housing prices going into the early fall, but the multiple offers have dopped off a bit. Instead of 15 or 20, you might see only two or three offers. It seems like the market is normalizing a bit. In the next few videos, we’ll talk about how you can get ready for what’s coming in our market this winter and the following spring. If you ever have any real estate questions, please give us a call or send us an email. We’d love to help you with whatever you need.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
What Buyers & Sellers Need to Know About This Market

4 years тому

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Here’s an overview of what it’s like to be a buyer or seller in this market. What are we seeing when homes go live on our market? First, most listings coming onto the market are doing so under the ‘coming soon’ status. We’ve done a few videos that delved into this topic, so be sure to explore our website to learn more about what ‘coming soon’ means. Second, a lot of agents are setting timelines for offers received in the lower price points before their homes accept showings or can be classified as ‘active status.’ The fact that sellers are confident enough to set offer deadlines before they schedule any showings points to how confident they are that they’ll receive multiple offers. It’s like we always say when we’re out on showings: You don’t even need to look for the sign anymore—look for the cars and the people. When a home gets listed, especially if it’s under $450,000, it’ll get bombarded with prospective buyers. Maybe not all at once, but you’ll see people waiting to check in when you pull up to the curb and when you leave. Traffic is high, and buyers are very much aware of this. In a lot of ways, this has created pressure for buyers to figure out how to make their offers stand out when so many others are interested in buying the same homes as them. Thus, we’re seeing a lot of creativity in the offers we’re getting for our listings, and the highest offer doesn’t always win. Some sellers are looking at how much buyers are willing to pay for their homes and noticing that there aren’t any comparables that are even close to justifying those high sales prices. “Most things happen for a reason, so if you don’t get the house you wanted, the perfect one may still be out there waiting for you.” These same sellers, then, will look at things like contract terms—sometimes there just has to be a happy medium between a nice price and comfortable terms. Inspections are often being waived as well, and cash offers are coming into play too. If you’re a seller, picking the best offer usually requires having a lot of discussions about them. More than anything, we want to highlight the fact that buyers must achieve a certain mental state to compete in this market. To sit down with a buyer and have a conversation about what’s happening is one thing, but once they start looking at properties and seeing other buyers writing offers, the realization that now’s a crazy time with a lot of activity and competition really sinks in. Even if you don’t want to enter into a bidding war, practically every listing gets multiple offers, so you have to be able to put your best foot forward and be comfortable with your offer. You also have to be patient. Most things happen for a reason, so if you don’t get the house you wanted, the perfect one may still be out there waiting for you. It’s always a good idea to have backup plans in place. Your home purchase may not happen when you hope it does, but it will happen with a little patience. If you have questions about this market or want our help in buying or selling a home, don’t hesitate to call us anytime. We’d love to speak with you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
An Update on Our Torrential Spring Market

4 years тому

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Here's an on-the-ground perspective of our wild spring market thus far. 2021 is the third straight year of low inventory in our market. Here in early spring, we’re already seeing an extreme amount of buyer demand. Given these low interest rates and a lack of new construction, this should come as no surprise. Not enough homes are hitting the market to match this degree of demand. On March 15, 2019, there were 87 homes for sale in Savage. At the time, that was considered historically low. On that same day in 2020, there were 67 homes for sale. As of March 15, 2021, there are just 16 active homes for sale. When you consider that 12 of those 16 homes are already under contract, you begin to understand that buyers who need to purchase today are working with virtually zero inventory. On top of that, many sellers have put showing restrictions in place due to the pandemic, so there are no overlapping showings. The result is that plenty of buyers are finding it near impossible to even get into a house that they’re interested in. “The last thing you want is to enter a torrential market with the wrong expectations.” Whether you plan on buying or selling this year, know that this crazy market of ours demands special levels of preparation. Have several in-depth conversations with your agent and your lender before you even start the process. We’ve already found ourselves in multiple-offer situations this spring, and new challenges continue to crop up. The last thing you want is to enter a torrential market with the wrong expectations. You need to be working with experienced professionals who are well-resourced. Whereas the buyer’s agents of yesteryear would try to source the best deal for their clients, today’s buyer’s agents are only focused on doing whatever it takes to get their clients into new homes. If you have further questions about this or any other real estate topic, don’t hesitate to reach out to us. It’s our pleasure to be your go-to resource, and we hope to hear from you soon.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
How Our Early Spring Market Is Doing

4 years тому

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Here’s how the beginning of the spring 2021 market has been faring. Today we’re sharing how the early spring market is doing. We are assuredly in a seller’s market; we’re seeing unprecedented shortages of inventory. Usually, we’d be seeing many more homes coming onto the market by this time in the season; it hasn’t happened yet, but we’re hoping it still will. On the flip side, we’re seeing much more buyer demand than we’ve ever seen this early in the season, and a lot of that is being driven by the very low interest rates. We’re seeing multiple offers on the majority of houses; the most we’ve seen is 62 offers come in for a townhome recently. Nearly all properties are selling within days, if not hours, which means we’re seeing buyer’s creativity increase in their offers. However, some sellers are placing rigid guidelines on what they will and won’t consider in an offer, and some prefer a cleaner offer without all the layers of complexity. “Nearly all properties are selling within days, if not hours.” Just because sellers are receiving so many offers doesn’t mean it’s an easy sale; if you’re getting 62 offers for your home, where do you even start when trying to choose just one? You still need to prepare your house for sale—in that regard, you need to treat this like a typical market. We’re seeing many sellers feel the need to rush their listing, but it’s still crucial for the property to be ready and for you to be mentally ready for the market because things move extremely quickly. If we can answer any questions or you want to discuss a possible move in your future, feel free to give us a call or send an email. Also, let us know if you have a blog topic you’d like us to cover. We look forward to hearing from you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
How to Know What Your Home Is Really Worth

4 years тому

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Our Real Estate Review will let you know what your home is worth. If you’ve ever wondered what your home is worth, that’s a perfectly reasonable question to ask. We get asked this question a lot, and not always from prospective sellers. Sometimes people want to know what their home is worth to understand their equity position. Others are looking to refinance their mortgage. Some are thinking about remodeling and know there will be some investment required; thus, they’re interested to see what kind of return they can get. “If you’re interested in taking advantage of this offer, give us a call or send us an email.” In any case, we can help you understand your home’s worth in a virtual sense with our Real Estate Review. It’s a simple process that follows a few easy steps. First, we’ll have a quick conversation (e.g., five to 10 minutes) about your home and situation. Then we’ll put together a market analysis with some basic market statistics. After that, we’ll follow up with you about our findings. If you’re interested in taking advantage of this offer, give us a call or send us an email. As always, if you have any other real estate questions, feel free to reach out to us as well. We’d love to help you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
How the ‘Coming Soon’ and ‘Pre-Marketing’ Statuses Differ

4 years тому

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Here’s where the ‘coming soon’ and ‘pre-marketing’ statuses differ. Many people assume “coming soon” status and “pre-marketing” status are the same thing, but they’re not. The coming soon status is for sellers who are preparing to put their homes on the market. It’s a status the general public can find and see online. It’s searchable and the home doesn’t accumulate marketing time in this status, but the seller has 21 days to officially list the home once it’s been categorized thus. While the home is in “coming soon” status, no showings can occur, but it can be marketed. A seller whose home is in “coming soon” status may notice many people driving by the property—we’ve even heard of curious buyers wandering through backyards. “What’s the best fit in your case? It all depends on your situation.” The pre-marketing status means that the property is not displayed publicly, but its listing agent can advertise it within their internal brokerage, and that brokerage can show the home. This is great for sellers who may not want the public to know their house is available but still want the opportunity to show and sell the house before putting it on the MLS. We see this a lot in cases where the seller wants to maintain a degree of privacy. This option also allows sellers some flexibility, and it gives companies like Edina Realty an opportunity to pre-market properties to thousands of agents. What’s the best fit in your case? It all depends on your situation, meaning your timeline and how you want to advertise your property. Neither status perfectly suits any particular client. When you think the time is right to sell, we’d be happy to sit down with you and talk about your best course of action. As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to us. We’re happy to help.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
The Pros of Selling in the Winter

4 years тому

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January and February are great months to put your home on the market. If you need to sell your home in January or February, we have good news: Now is a great time to put your home on the market, and there are several reasons why. For one thing, inventory is low. It’s been low for a couple of years, but it’s really low at the moment. Interest rates are also extremely low, which means there’s a pent-up demand from buyers that’s still carrying over from 2020. Many of them who perhaps lost a bidding war for the home they wanted or decided to wait to buy are ready to buy now. Additionally, now’s a great time to focus on the interior aspects of your home, which is what a lot of buyers are focusing on. Speaking of which, if you’re thinking of listing in the spring, there are several things you can do to your home to make it look fresh and show-ready. First, take a walk around the house with a discerning eye. Let’s use the woodwork as an example. If you walk around your house and see any trim, solid wood doors, or cabinetry that looks dry or faded, moisturize and stain that area so it looks new again. After that, spackle over any nicks or holes in the walls. If you have to repaint, it’s always a good idea to use the same color for an entire floor. It might not look how you want it to look, but it helps the home look bright and open for showing purposes. “There’s a pent-up demand from buyers that’s still carrying over from 2020.” Another thing to consider is taking a look at the hardware. Is there any outdated brass from the ’80s or ’90s? If so, give it a facelift. Hardware is the jewelry of your home, so giving it a fresh look is a simple and inexpensive way to make your home look better. Lastly, turn your attention to the home’s lighting. If, for example, you have a dinette light that’s visible from the foyer or other areas of the house, replace any dated fixtures and turn it into a fun statement light since that’s a key focal point. As always, if you have questions about this or any real estate topic, feel free to call or email us anytime. We’d love to speak with you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
Happy Holidays From Our Family to Yours

4 years тому

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As 2020 finally draws to a close, we wish you a happy holiday season. We wanted to take a moment today to extend a happy holiday greeting. As 2020 winds down (which we’re willing to bet a lot of people are excited about), we hope your year has gone well. We’ve seen first hand how the pandemic has affected people’s lives, especially as it relates to housing. From our family to yours, we hope you have a great rest of the holiday season and an even better 2021. To see our full holiday greeting, watch the short video above.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
3 Things to Avoid to When Preparing Your Home for Sale

4 years тому

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Here are three vital mistakes to avoid when preparing your home for sale. Unfortunately, some people make mistakes while preparing their homes for sale. Here are the three main things to avoid when getting your house ready for the market: 1. Updating multiple levels. If you’ve done a dramatic upgrade somewhere in your home, such as in the kitchen, you can usually forego a few other areas that are less crucial. However, if something looks worn out, such as nicks in the paint, that needs to be improved. “Crown molding and wainscotting are not needed to sell a house.” 2. Getting carried away with home improvements. For example, if the carpet needs to be replaced, many people think they should get a top-of-the-line product, but that’s not usually necessary for resale. The kitchen backsplash is another area not to overdo and may be unnecessary altogether depending on your price point. Additionally, crown molding and wainscotting are not needed to sell a house. These are all great things you would do to a home you’ll be living in for a while, not the house you’re selling soon. 3. Replacing mechanicals. A furnace or water heater, for example, doesn’t need to be replaced unless it’s not working or damaged. If the item is just old, there’s no need to replace it just to sell. If we can answer any additional questions about preparing your property for sale or what to avoid, give us a call or shoot us an email. We’d love to have a conversation with you. Also, if you have any topics you’d like us to discuss in a future video, let us know about those as well.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
How Have Our Market Numbers Changed Year Over Year?

4 years тому

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Let’s compare the market conditions from August 2020 to those of August 2019. Both last August and this August, we witnessed relentless buyer demand. Let’s take a look at how those numbers compare: So far, buyers have signed 19.7% more purchase agreements in August 2020 than they did the previous year. That’s evidence of strong buyer activity in our market. Meanwhile, the inventory levels in our market have dropped by 32.4% year over year. With the increase in buyer demand and the reduction in inventory, we’re seeing home prices rise due to more and more multiple-offer situations on the available homes. “We’ve seen homes with as many as 12 or 15 offers on them!” Another interesting fact is that the median sales price rose by 9.8% year over year. Currently, the median price is $315,000, which is the highest it’s been in many years. Single-family home sales are up by 23%. Townhome sales rose by 14.8%, and even condominium sales went up by 1.4%. There have also been a lot of new construction homes going up in the area, and those sales rose by 46% between August 2019 and August 2020. We’re also seeing buyers make quite a few concessions when writing offers due to the fact that many homes are generating bidding wars—we’ve seen homes with as many as 12 or 15 offers on them! We normally see a bit of a slowdown at this time of year as school begins, but we didn’t get that in 2020. Market activity continued throughout August and September. If you have any other questions about the market as we head deeper into the fall season or if you’re preparing for a home sale in 2021, don’t hesitate to reach out to us. We’d love to help you.…

Minnesota Real Estate Podcast With Chad and Sara Huebener

1
What Can You Learn From the 2020 Parade of Homes?

5 years тому