July 2013 Real Estate Trends

July 30, 2013

House prices are on the rise and it is a great time to sell! If you are thinking about selling your home… contact me today for some great information on the current market in your area and how I can be of service to you and best fit your Real Estate needs.

Chelsea Knutson
Realtor- GRI, ABR, CDPE
763-496-2903
the Better Living Group
Keller Williams Classic Realty NW

[youtube=http://www.youtube.com/watch?v=IIIw3UMKdf4&feature=em-subs_digest]

Posted in Community /Real Estate News, Updates & Trends /

Is Home Ownership better then Renting?

July 25, 2013 rent-vs-buy-a-home

Many people find the idea of purchasing a home a tough decision. They go through being a homeowner over and over in their heads, weighing the pros and cons. Some people have made the decision to purchase a home now, and yet may have student loans, high credit debt, or other factors that could affect their purchasing power. Others are unsure of what their payments may be or if they’ll be able to afford it with the current interest rates and other costs associated with a new home. These are questions that can easily be answered by speaking with your Loan Officer and local Realtor.

As a licensed Realtor in Minnesota and your local real estate economist in the Twin Cities Metro Areas, my team and I have found that if you were to rent a house in Plymouth (for example) the rental rates are typically ranging anywhere from $1,300 and up. You could also purchase a home in the $150,000’s and your average monthly payments would likely be around that very same price point (depending on the interest rate you lock in at and your specific lending needs). So by paying about the same amount being a homeowner, you would have the opportunity to gain equity and stake claim on the American dream.

All in all, if you can own a house for nearly the same monthly payments as if you were to rent, why wouldn’t you? What is stopping you from moving forward with your dreams? Putting the idea of purchasing a home on the back-burner could put off the process for longer then you may expect. So if you are renting and want to purchase, talk to a professional and find out what it takes to purchase your new home, today!

If you have any further questions on buying a new home, or selling a home, please contact me today. I am a licensed Real Estate Professional in the Twin Cities Metro and Greater Minnesota Areas and strive to provide the best real estate service, with the support of my team the Better Living Group, for all of my past, present and future clients.

rent-vs-buy-a-home

Chelsea Knutson
Realtor- GRI, ABR, CDPE
763-496-2903
the Better Living Group
Keller Williams Classic Realty NW

Posted in Community /Real Estate News, Updates & Trends / 2 Comments

Who do I meet with first, my Realtor or my Lender?

July 23, 2013

Many people are unsure of who to meet with first, a lender or a Realtor. To understand what you can get for the money, meeting with a loan officer is the first step every Buyer should take. This will give you the knowledge of what price range will work best with your budget. Getting pre-approved is an important piece of the puzzle and is a requirement in order to purchase a home. The approval letter not only gives you the power to buy, it also lets the sellers know you are approved for the amount you are offering. It’s never fun to fall in love with homes that aren’t affordable or don’t work with your specific financing.

Once you’re approved, meeting with a licensed Realtor is the next step. You may do your research via recommendations from family and friends, or search the internet for the right Licensed Realtor for you. Finding the Realtor that best fits your needs is very important when you are making, potentially, the largest purchase you will ever make in your lifetime.

Not ready to purchase your home quite yet? If you plan to purchase a home 6+ months down the road, it is still good to meet with a Realtor. An experienced and licensed Realtor will help you understand the ins and outs of a new home purchase and will likely have referrals in the lending business, if you are in need. You will learn more about the current market you will be looking in and get a professional opinion of what may work with your new home needs.

Keep in mind that the market is continuously changing. Housing prices are currently rising and mortgage rates seem to be following the trend. Of course, no one person could truly know what months down the road will hold, what we do know is that now is the time to buy AND sell.

If you have any questions about the selling market in your area or the process of a new home purchase, please leave a comment below or feel free to contact me anytime. My team and I are keeping up to date on the current and changing market trends throughout the Twin Cities Metro and greater Minnesota areas, and we’re here to assist you in all of your real estate needs.

Posted in Community /Real Estate News, Updates & Trends /

Opportunity Knocks in Maple Grove |Two-Story Executive Home For Sale

July 20, 2013

I am thrilled to showcase this move-in ready, single family home in the heart of Maple Grove. There are many wonderful features to this property including a 4-seasons porch with a large, walk-out deck that will bring you peace and enjoyment whether sitting inside or out, reading a good book or grilling with family and friends.

This is a well built and well maintained property with many nearby amenities as well, located minutes from Rush Creek Golf Course, parks & walking trails, shopping and the Maple Grove Hospital.

This home is made for long-term living, with 4,660 finished sq ft it has plenty of room for family time in the main-level living areas and entertaining guests in the lower level living area – which includes a performance stage and wet bar. Situated on a large lot and cul-de-sac, this home offers top notch neighborhood enjoyment.

If you have any questions regarding this home listed in Maple Grove, or any other properties on the market, please feel free to contact me anytime. I am proudly licensed with Keller Williams Classic Realty NW and am a real estate professional who strives to give both buyers and sellers the best and most rewarding service possible.

Chelsea Knutson
Realtor- GRI, ABR, CDPE
763-496-2903
the Better Living Group
Keller Williams Classic Realty NW

Posted in Community /Real Estate News, Updates & Trends / 1 Comment

Fixed Rates for Mortgages sky rocket, the most since 1987

July 17, 2013

Three weeks ago the mortgage rates took a huge turn. A 30-year fixed rate mortgage went from 3.93% up to 4.46% in one week. Compared to last year when a 30-year mortgage was at 3.66%. The 15-year fixed rate went from 3.04% up to 3.5%. When last year the fixed rate for a 15-year mortgage was at 2.94%, this is a drastic change in a short period of time. This is the largest jump and change in interest rates since 1987.

A 30-year fixed rate mortgage is very common when taking out a loan on a house, so this increase will affect homebuyers. There is so much to look at when purchasing and or thinking about purchasing a home and current interest rates is at the top of the list. Because interest rates have such a major impact when purchasing a home, they have the power to change the potential buying power for current and future homebuyers.

When getting approved for a loan, many factors are reviewed which will give you a price range of what will be affordable for your lifestyle. Working in the interest rate will shift your “budget” lower or higher, depending on the rates at that time.

Due to the change and jump in mortgage interest rates, homebuyers will feel the affect on their monthly house payments compared to two weeks ago when the average interest rate was at about 3.75. Many people, including myself as a Licensed Realtor, will look at this with cautious eyes, and will keep watch on where they will go from here.

If you or someone you know has questions about moving forward with your new home purchase and/or are looking to see what your property value is in the current market – give us a call today! We have all the tools, experience and expanded referral list that you’ll need to move forward.

Posted in Real Estate News, Updates & Trends / 1 Comment

Don’t miss out on the festivities of Maple Grove Days 2013

July 9, 2013

Come out and celebrate the wonderful city of Maple Grove, July 10-14th. You don’t want to miss the fun and excitement that is bundled into Maple Grove Days. From the parade, games, stage entertainment, food tents, business expo, fishing clinics, art fair, truck & car show to the street dance and free yoga classes – there is so much fun to be had! Trust me, you don’t want to miss this!

Spending time with family and friends at Maple grove Days is a great way to enjoy the summer and show your support to local businesses. So why not get out, spend some quality time with family and friends, and have some fun!

As an added bonus, my Better Living Group team along with our Keller Williams Classic NW office, will be in the Pierre Bottineau parade on July 11th, from 6:10pm-9:30pm, in Maple Grove. We’ll be showing our love, support and gratitude to all. We will be passing out home purchasing flyers and Maple Grove market statistics, with great information for anyone looking to Buy or Sell in the near future.

We look forward to seeing you there!

Posted in Community /Local Festivities /Real Estate News, Updates & Trends /

Positive and Negative Equity, what side are we really on?

July 1, 2013

When owning a home, you are bound to lose and gain equity depending on the state of the real estate market. With the recent up turn of the market positive equity is rising. In the first quarter of 2013 850,000 more residential properties have come back to a state of positive equity. That brings us to 39 million properties that are in positive equity.
Positive and Negative equity are something to keep aware of when purchasing or selling a home. With the current state of the real estate market, house prices are on the rise. This is due to the release of negative equity and the gain of positive equity. Positive equity is very important because when purchasing a home or selling a home, you want there to be wiggle room for when/if the market changes.
In the current turning of the real estate market, we see a lot of things changing. The gain of positive equity will bring current homeowners back on the market. This will bring an increase in inventory, which as of now, is historically low.
We are not yet where we need to be, but the market is moving in the right direction. The gain in equity is a sign of great change for people in the market to purchase a home and current homeowners who plan to sell.

Chelsea Knutson
Realtor- GRI, ABR, CDPE
763-496-2903
the Better Living Group
Keller Williams Classic Realty NW

Posted in Real Estate News, Updates & Trends / 1 Comment