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Whether looking for a home in one of our great towns like Fergus Falls, or finding your dream lakefront cabin, we are here to help you buy your next home. We understand this is one of the biggest decisions you will face, at any point in your life. Not only are we committed to finding you the right property at the best price, we will walk you through the transaction, address all of your concerns and assist you with all paperwork and negotiations. Your complete satisfaction is our highest priority.

When It’s Time to Move, We Can Help

Homesandlakeshore.com provides a FREE moving trailer to clients on a first come, first served basis. Save time and money, and start enjoying your new home sooner. This service is available to buying and/or selling clients throughout Otter Tail County, including Ashby, Battle Lake, Clitherall, Dalton, Erhard, Fergus Falls, Henning, New York Mills, Ottertail, Perham, Underwood, Vining, and all of the beautiful lake areas, town neighborhoods and rural properties with acreage.

We would be honored to assist you in buying your next home, and help you move too. Contact us and ask any questions via our custom contact form.  We would love to hear from you!

 

Strategies for Buying a Home in a Competitive Market

Homebuyers looking for a bargain will have better luck finding deals on home décor at the dollar store than in housing this year. In some cases, even if a home needs major repairs, seller’s have the upper hand and can ask what they want. That’s because available houses are lagging far behind the demand. If you are looking to buy, make sure and leverage all of the advantages available to you.

Owning a Home Offers Several Tax Benefits

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.

Resolutions to Help You Buy a Home This Year

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.

2021 Real Estate Market Recap

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.

What to do if Your Appraisal Comes in Low

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:

Increasing Mortgage Rates- The Good and the Bad News

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.

Boomers vs First-Timers in Home Buying Competition

home buying

Baby boomers are seeking a simpler life and an easier to take care of home. However, this means moving into a lower priced housing market traditionally sought by young families. In an already fiercely competitive market, this makes home buying a challenge for everyone—boomers, and younger buyers alike.

Exploring 20-Year Mortgage Options

20 year mortgage

Nearly 78% of all home mortgages created last year were for a 30-year term, according to the Urban Institute. But have you ever considered a 20-year term? A shorter term will save tons in interest payments, and you will build equity faster and be mortgage free sooner, even though you will pay a bit more monthly. New proposed legislation could help first-time homebuyers reduce the cost of a 20-year mortgage or provide down payment help.

Here’s what you need to know if you’re considering a 20-year mortgage:

Know the Pros and Cons of Shopping for a Home Online

home shopping

It’s okay to begin shopping for a new home online, but at a certain point you will need to take that search into real life. Online searches can simplify some tasks but be aware of some downfalls to spending too much time internet shopping, especially in today’s market.