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Found 43 blog entries about Real Estate.

Interest rates. We know lower is better, but what's considered actually low, and how much does it affect your overall spending on the purchase of your home? Well, potentially quite a bit, which may be why we continue to see record numbers of home sales even in the midst of a global pandemic. Are today's buyers just valuing a home more than before, or are they just cashing in on these ultra-low interest rates? Let's take a look.

So we know we want a lower interest rate when purchasing a home, but that isn't the only factor we should be looking at. For starters, unless you're purely an investor, buying a primary residence has many more factors to consider than just the interest rate, and since we can't really control them anyway, we can't just put…

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Welcome back! This month’s update is titled: Peaks and Valleys 

Actually, it's just titled Market Update for October— it's about peaks and valleys, as that's what the numbers are showing us. Last month we were starting to see some shifts in the market, so let's dive into the October numbers to see if we're still heading in that direction, or if that was just a blip.

Perhaps the biggest indicator for us to look at right now is the total number of homes for sale. This has now gone down for the sixth consecutive month, and we're heading into the time of year where it typically takes an even further dive as it starts to get cold and closer to the holidays. October is officially the lowest number we have seen all year, and there are no signs of that…

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Written by VIBE's Broker / Owner Steve Anderson

Welcome to the Market Recap for September 2020. There's been an interesting shift since last month, so let's take a look at the data and see where the Twin Cities real estate market may be headed for the fourth quarter of this undeniably tumultuous year.

Over the summer, we've watched the sales numbers climb, climb again, and then climb some more. Prices constantly going up and days on market consistently going down...but of course, that is unsustainable. I've mentioned a few times in past recaps that it seems we are "waiting for the other shoe to drop" - so did it happen? Honestly, it's probably too early to make the official call, but we are seeing some key indicators from trends over the last two…

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The market update of threes! Everything is coming in sets of three this month, so that'll be the theme as we examine just what's going on in today's Twin Cities real estate market.

For starters, let's call out the major outlier here...average sale price for 2020 is now almost $100k higher than it was this time in 2019 - wow! August last year was just under the$290k mark, and for this year we are broaching almost $380k. While it has certainly been a difficult year to track, there is no doubt that the limited home inventory this year has caused a surge in home prices like no other.

As for our other indicators, most everything seems to be happening for the third month in a row. New listings are slightly up over last month, and at the same pace…

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As we look at the numbers for July, we'll be looking at the real estate market's health in general, without as much emphasis on COVID-19. It's not to say we're not focusing on the impact this disease is currently having, but historically there is almost always a summer lull, so we want to be sure we're taking that into account.

School start and end dates play a large variable in how the real estate seasons play out. Since “going back to school” looks a bit different this year, we will have to closely monitor how this impacts the real estate market. Will it put a damper on the typically very strong fall market? Time will tell.

Here's how the numbers stacked up for July...The number of new listings went slightly up, which is encouraging in a…

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Written by Steve Anderson, Broker at VIBE Realty

The numbers for the first half of the year are officially in. Typically, in the Twin Cities, spring and fall are by far the two busiest seasons, but when COVID-19 became a factor back in March, we started to see it take its toll on the real estate market. So how did everything shake out? Although June has been stronger than usual, it didn’t quite make up for the lighter spring.

The general consensus seems to be that sellers were understandably hesitant to open their doors during the initial spread of the virus. As regulations started to loosen, homeowners became more comfortable with selling. And while the amount of new listings did go up slightly in a month where they would typically go down,…

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In honor of the 4th of July, we’re reflecting on the joys of independence. Home ownership is considered by many as ‘The American Dream’ and there are dozens of reasons and benefits to owning your own home as opposed to renting. Most of those reasons come down to something we’re celebrating this weekend: freedom. Freedom from a landlord, freedom from design that you didn’t choose, and freedom from rent that gives you no equity. Here are 5 reasons why being a homeowner can grant you the independence that you may be looking for.

 

 

You Can Start Building Equity

Renting may come with less work upfront, but the reality is that your hard earned money is likely going toward someone else’s mortgage. That means you’re building their equity, rather…

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Written by Steve Anderson, Broker at VIBE Realty

Spring Market 2020: Aggressive Buyers Make for Happy Sellers 

As spring’s real estate market tries to find its stride, May’s data suggests conditions remain very favorable for sellers, but mixed for buyers depending on price point and motivation. New Listings have seen a slight uptick, resulting in a much needed increase in inventory. This is good to see going into summer, as this is normally when inventory levels would start to dip following a strong spring.


However, even with more inventory, houses are selling at a historically fast pace with an average market time of just 16 days. This is making it even more competitive for buyers and is resulting in higher prices for sellers. While…

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With Earth Day not far behind us, the buzz word is still going strong: sustainability. It's a movement that is becoming more accessible for us to achieve in different areas of our lives, and being in real estate, sustainability in the home is a topic we'd like to shed light on.

As a homeowner, you have options to make environmentally-conscious choices that not only make a contribution to improving the environment, but also can play a role in lowering the cost of running your home. Say what?! Yes, you can actually save money over time by making a few sustainable changes that can play into saving energy, water, and maintenance on systems and appliances. Here are some ways you can create a healthier environment for yourself and your family by bringing…

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Written by Steve Anderson, Broker at VIBE Realty

We were very interested to see April's market update come in, as we knew the numbers would give us a lot of insight on how things drastically changed throughout the month. This was certainly the case with new listings, which were down by the thousands compared to 2019. Keep in mind too, that this year was trending higher than 2019 before COVID-19 hit. So what is the real gap there? Hard to say for sure, but I would estimate we should have been closer to 10,000 based on what was trending.

On the other hand, buyer demand seems to be almost alarmingly high. By combining the increased average sale price with the decreased days on market, houses are selling faster and for more money than we've seen…

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