When selling your home, you can expect the buyer to request a home inspection. It’s to the buyer’s benefit to identify any potential problems that owners have not already disclosed. You may get an extensive list of potential fixes suggested by the inspector and wonder how you will ever come out ahead if you fix them all. But rest assured, some fixes may not be necessary, especially in a seller’s market.
Members of the real estate industry are vigorous advocates for creating and maintaining the tax benefits of homeownership.When the Tax Cuts and Jobs Act doubled the standard deduction for taxpayers a few years ago, far fewer people itemized their expenses, missing out on deductions. However, even if you don’t itemize, there are tax benefits you’re entitled to as a homeowner.
Thinking about planting a garden in your new home this spring? The benefits of gardening are many. Getting out in the sunshine and doing a healthy activity. Growing your own nutritious foods. Being healthier overall. Your garden could also be a part of the climate solution by sequestering carbon — or pulling carbon from the air and storing it underground. This also helps offset emissions from other parts of the food system. Climate Victory Gardening is one way to make healthy decisions to accomplish that.
Just as historic shortages of properties for sale in the early days of the COVID-19 pandemic drove housing prices soaring, rental prices have risen too. And even though renters are feeling it hard in west central Minnesota, this is a growing nationwide issue. Below, we outline the market conditions that brought us to this point, and tips to help in your rental search
If the love for your home has faded, you may need a shot from Cupid’s arrow. You can fall in love with your spaces again by making some simple, trendy updates sure to ignite your passion. Having been forced to spend more time in our homes over the pandemic, these trends are driving a desire to create both a visual and affectionate feeling that generates new energy.
Would you like to buy a new home, or first home, this year? Getting your finances into shape and a couple other key strategies will help you improve your home-buying odds. It’s a competitive market, so do everything you can to come out on top.
Real estate trends have been a bit unexpected, starting with the pandemic, and continuing through 2021. While there was early caution over COVID-19 slowing real estate activity, demand in many communities has risen. At the same time, economic uncertainty kept many homeowners in place, especially those that refinanced with historically low interest rates, creating a shortage in inventory. Supply chain woes slowed new construction. Yet, people continue to look for new homes, with high demand expected to continue, even as interest rates rise. Lets take a look at state and local data over the past year.
When the home buying process gets to the point of a serious offer, it is kind of an exciting thrill ride of ups and downs until closing. One of the big variables that can throw a monkey wrench in the works is when the appraisal comes in lower than the accepted offer. This can leave a seller feeling like they paid more for a home than it’s worth, or they must scramble to make up the difference with extra funds or the deal may fall through.
Right now, appraisals are based on comparable sales that closed when prices were lower. In a rising market, comps can’t keep up with home sale prices in a competitive market, so values may be lower than expected. If you have a gap between your loan amount, you may be asked to come up with a larger downpayment.
But don’t despair, you have several options:
Sellers might be wondering if putting their home on the market in the winter will result in a sale. Though the snowy months are generally a slow time for home sales, this past year has been anything but typical. So, should you try to sell your home now?
Rising mortgage interest rates could be a curse or a blessing for prospective homebuyers, depending on a host of factors. With a housing shortage, builders unable to meet demand, and millennials wanting to become homeowners, rising interest rates are a new wrinkle in the home buying challenge.