Twin Cities Property Finder · David Olson, Broker · MN #BK3603584 · Whitefish Property Finder · MN #40646463 · Licensed in Minnesota, Wisconsin and Florida
This question comes up constantly – “Is the media correct when predicting the real estate market?” I believe the answer is NO.
Here’s what to know, whether you’re selling, buying or just curious.
Here’s an honest look, whether you’re selling or buying.
What to know
Someone once told me that the media predicted 5 of the last 3 depressions… in other words, negativity & controversy sells, so that’s what the media will promote. They make everyone so nervous that in the end, it actually comes true – it becomes a self-fulfilling prophecy.
So whom should you listen to in regards to the real estate market? THE PROFESSIONALS! You wouldn’t ask your dentist to review your taxes, and you wouldn’t ask your accountant to fill your cavity – so why would you listen to the media when it comes to one of the biggest financial decisions of your life? You should be listening to licensed Realtors & mortgage brokers in the area that you’re interested in purchasing. We live & breathe real estate. We understand what drives the market. If you want the “truth” about the real estate market, just ask US!
THIS IS THE BEST TIME TO BUY. I can tell you that the wise buyers have already jumped into the market – interest rates are historically low, & prices are back to levels we haven’t seen since the mid 2000s. Don’t wait for the foreclosures to show up – we’ve been waiting for those to appear for a few years now. The banks will not flood the market by releasing their entire inventory at once. They did that in 2008, and it made the prices drop in most areas by about 25-35%… they learned their lesson…
More details
This letter was sent to me today by Jim Doty, VP of Tristar Mortgage:
“It’s amazing in the year 2010 we would be talking about interest rates as low as 3.99% on a 30 yr fixed and 3.5% on a 15 year fixed. As part of the baby boomer generation, I used to hear my parents talk about interest rates as low as this. In the 1950’s rates were this low. Who would have predicted 50 yrs later they would be this low again? What a great opportunity for our kids and ourselves to be able to purchase homes in 2010 with these extraordinary rates! For those homeowners who have existing home loans, this is the time to upgrade your home and keep the same payments you are currently making on your home now for a better product. For our young adults there is great opportunity to purchase their 1st home with down payments as low as 3.5%. In most cases, their mortgage payment will be as low as what they are currently renting their apartment or home for now. In a time when our income taxes are on the rise, I think it is imperative for people to take all the tax advantage they can get. It is a win-win situation for people to take advantage of low rates and a tax write off. So take action now and give yourself the opportunity to take advantage of the American Dream!”
The point? As a buyer, the ball is in your court. Low rates, low prices, motivated sellers – a perfect combination. Pick the right Realtor to negotiate on your behalf, and you have the final piece to the puzzle.
A simple plan for your move
I’ve been helping people sell and buy homes across Minnesota, Wisconsin, and Florida for about two decades, and I build and remodel luxury homes too. I’ll help you see both what a property is and what it could be.
Getting the house ready, or making it yours
If you’re selling and want repairs handled before buyers see them, Super Crew Contractors can give you an estimate. If you’re ready for something custom, Ivy Lane Homes does luxury home building and remodeling. And a quick coverage check with Intrinsic Insurance before closing can save you a surprise. Ready to talk? Start a buyer plan or ask what your home is worth.
Super Crew Contractors, Ivy Lane Homes and Intrinsic Insurance are owned by David Olson; you are free to use any contractor, builder or insurer.
Your next step
Every move is different. Whether you’re selling or buying, I’ll help you make a plan that fits.
Please note: I don’t handle rentals or property management. I work with sellers and buyers, and that’s where I can help you most in the Twin Cities.
Stay close to the market, without the noise.
Every so often I send a short, practical note: what Twin Cities homes did, prep tips that are worth the money, and neighborhoods worth a look.
Thank you! You’re on the list.
I’m glad you’re here. A quick confirmation is on its way to your inbox. Whenever you want to talk about your own home or a move, I’m a call or text away.
