Should I Buy or Sell This Week? Issue #2

Happy Sunday! This coming Wednesday is already the last day of January!

Yesterday, Jan. 27th, I hosted an Open House in White Bear Lake. I had over 23 people tour the home in just 1 3/4 hours. The home was really nothing special ($337k), no doubt that Buyers are out in Full force.

Ever year at this time, I find that those out Selling and Buying get the worm and (I'd say) most that SELL, end up Selling through us for more than our Seller's asking. This is mostly due to the lack of inventory, because there is simply no competition, yet. ...and their neighbor's home is just not on the market, yet!

Your Weekly Real Estate Market Report for 1/28/2024.

I followed up with Taylor, one of our banking partners yesterday - "Rates were kind of stale this week without much movement.? There was good news for the economy as a whole this week with GDP (Gross Domestic Product - a monetary measure of the market value for all the FINAL goods and services produced within a specific time period.)

Looking back, the 4th quarter of 2023 was up much higher than expected at 3.3% beating the projected number of 2%.? Also, interesting numbers came out of the Michigan Consumer Sentiment report with a reading of nearly 80%.? This is a 29% increase from two months ago which is the biggest increase in numbers since 1991 and the highest reading since 2021.? I think this is a good sign for the spring market.? When consumers are happy, they spend more, including on real estate."

If you have not heard of or did not hear Lawrence Yun's most recent presentation, I think it is a good use of 30 minutes of your time this evening. You can find it here https://www.youtube.com/watch?v=uaZJ5S9ZIe4

Dr. Yun breaks gives his thoughts on the current real estate market and gives his projections for 2024.?

We also know that the FED's are still positioned to start the reduction of interest rate points, starting at Q2 (March/April), so we are all watching for improved pricing. However, as we reported two weeks back, this time is still the 'sweet-spot' for both Buyers and Sellers.

If I were a Buyer or Seller, I would drop everything right now and either reach out to a Realtor? to find my home Dream Home NOW, or if a Seller, I would do the same, find the BEST Realtor? (aka 'Meaning' - Marketing Expert) I could, and SELL right now!

Success without the (Buyer/Seller) numbers is happening without completion (for both sides) right now. But March/April, I predict both sides will start spinning their wheels with much less progress!

For Buyers, rates will be less, but buyers for a single home will be in multiples = LOSS in WIN or having to pay OVER Asking to win, and with NO Seller concessions. These are going away right now.

Sellers - If you are a seller, your neighbor's home will be on the market and you will have more competition vs. selling right now! If your home is not in the best shape or if your neighbor's home has more curb appeal, your home will likely not sell for as much as it would if you called this week and started selling RIGHT NOW! And your home is likely going to stay on the market longer, vs. trying to sell by, say, the end of February.

Buy Now for 4-5%, Why Wait

GRA, Refined Lending, the Banking Brokerage giant 'Bell Bank' and others, are able to provide you a 4-5% interest rate right now. Upon approval, you can gain access to a low interest rate, and Buy today without competition. Like I said above, I know that right now is the sweet-spot for Buying and Selling for all of 2024.

I have a lot of Private Sellers coming to us right now with their homes not Listed on MLS. ...and they are chomping at the Bit to sell their home with full compliance and negotiation, to you. On MLS, we have more than 10,500 homes for sale within 25-miles of the center downtown Minneapolis.

This allows you to find and purchase a new Dream Home in the West metro out past most of Lake Minnetonka. To the North, past Blaine, Forest Lake and Hugo, to the East, all the way to Hudson, and to the South, all the way past The Wilds and Prior Lake.

Of course there are still homes further out than this, and I can help you find homes throughout all of Minnesota, I only referenced the above as the example was 25-miles from the center of downtown Minneapolis.

In 2023, I relocated lots of families to National Destinations through my Serhant and CBGL networks, including to Scottsdale, Atlanta, San Diago, Lexington and Florida. As a Relocation Expert, I am also downsizing families, helping them buy a home here, and one down south.

With the interest rates low right now and low competition, our clients are either 'COMPLETELY' seeing this as an opportunity, or missing this opportunity altogether.

So In Closing

Just like the last Real Estate Market report two weeks back, If you are positioning yourselves/your Loved ones or your families to Buy, Sell or Both, in 2024, please reach out with any and all questions you have! This is the different between Success or take 2nd best, losing money.

We 100%, Absolutely feel, the TIME to BUY and SELL is right now. ...and I mean this for anyone looking to Buy or Sell throughout all of 2024.

Key Takeaways for 1/28/24

1. Buyers and Sellers currently have NO or Low competition within the Real Estate Market, right now. This is estimated to continue for the next few weeks.
2. We can have a discussion this week, and have your home Listed within 24 hours. You do not have to be 100% ready to move this month, it will take you a few weeks to a few months to sell, then another 30-45 days to Close, so you have at least 2-3 months to prep everything else you feel you are not ready for, in arrears. ...and we will help ensure you are ready.
3. There are plenty of homes on the market and plenty of private seller, off-market homes available; you will likely find your Next Dream Home if we start shopping this week, it just might take a few more weeks for us to find the exact one you are looking for as your Next Perfect Home
4. Buyer still are receiving some Seller Concession (assistance, reductions in Listing Price and/or in Closing Costs), but this is starting to disappear as interest rates improve and Buyers are starting to come out in numbers.
5. Seller's Listing their homes for sale right now, have low or NO competition; Your neighbors will likely start Listing their homes by the end of February, March of April, the hottest times of every year to start selling in Minnesota. On average, Listing in January/early February produces more Net due to less competition against your neighbor's better upgraded home, or Listing their home with more curb-appeal than your home.
6. Most Buyers can achieve 4-5% interest rate with approval right now using the 2-for-1 buy down programs available from many of our partnering banks and banking brokerages. This is not far off of the average 3% rates many have on their current mortgage. ...and remember, those of you with a mortgage, more than likely have thousands in equity built up in your home, partially because of COVID. So the transition to a new home you really have been waiting for should really be seen as more of a wash!This offer is available to approved Conventional, VA and FHA Loan individuals. Please reach out this week so we can connect you with our banking partners for per-qualification. This can often be completed in as little as a few hours to 1 day. Once approved, our banking partners will simply update your per-approval letter every 30-days until you write and have your offer accepted, and/or you Lock-in your rate.

*Note: These clients broke a record Home Sale with us in January. Anyone can SELL a home, but many of the inexperienced (and most Realtors) leave money on the table.

Through our vast Marketing we call our personal 'algorithm', and with the help of our Coldwell Banker 117+ year old network of partners and service providers, we work extra hard to reach ALL your potential buyers, including the one that means the most to you (the reason all hire us), the one with the absolute DEEPEST pockets!

Please reach out to me this week and I'll be sure to answer your questions accurately. Then, let's get your on your way to success before all the other Buyers and Sellers hit the market in the next weeks.

Photo Above - Tina and Dennis' neighbors will also benefit as their homes will appraise for more money in the future!

Contact Information

We never want to appear sales-pitchy, but we do want to work to protection you and your loved ones, while making sure you find the RIGHT agent or Realtor? to represent you, one that will make you Top $ and not leave any money on the table.

If you feel I am the right Realtor? for you, please contact me today at 763.843.2905. My team will be happy to help you be $uccessful in your 2024 Move! ...and remember, I will NEVER turn you over to anyone to just 'handle'. Once we engage, I will be with you through your Closing and available to you for years to come, and as long as I am on this earth!

God bless you, thanks. Zane