Rochester MN Real Estate Market Blog

Interest rates continue to hit lows not seen in 40 years.  With interest rates just above 4%, the savings over the course of a 30 year fixed mortgage are remarkable.  Combined with high levels of housing inventory for sale and a downward pressure on home prices, for the well-qualified home buyer, this can be a [...]

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During the last several months we’ve seen record low interest rates.  With interest rates remaining below 5%, the savings over the course of a 30 year fixed mortgage are remarkable.  Combined with high levels of housing inventory for sale and a downward pressure on home prices, for the well-qualified home buyer, this can be a [...]

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Although historically low interest rates haven’t been able to counteract the effect of the contracted economy, the positive news in the real estate market is that it continues to plug along.  There were 108 signed contracts on Rochester area residential properties in August, an increase of 8% from July, yet continuing along the trend line [...]

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Painting your whole house, or even just one room, not only makes your home feel clean and bright, it also gives you the opportunity to declutter, reorganize, and refresh your space. This allows you to enjoy your home even more and makes it that much easier to sell when the time comes.

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With interest rates at a 50+ year low and high levels of housing inventory for sale, it certainly should be a buyer’s market.  Rising unemployment rates and increasingly tighter requirements to get financing are keeping the buyer pool in check, especially as the home buyer tax credit becomes a distant memory.  As more homes compete [...]

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Every book I have read on trying to time the stock market says don’t. Most financial advisors recommend getting in and staying in with the proper asset allocation for your particular risk tolerance. When the market is up you’re in good shape, and when it goes down you have some protection built in through your [...]

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Some buyers balk at working with a buyer’s agent because they are concerned it will cost them money. This is understandable since it is customary to sign an agreement with the buyer’s agent defining their compensation as a percentage of the sale price. Rather than see this as a cost, see it as a protection [...]

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For years now, we’ve been recommending that home sellers pay for a professional home inspection when they list their home for sale so that both parties know the home’s strengths and weaknesses before an offer is ever made.  Savvy home sellers understand that paying for a professional home inspection can help them better position their [...]

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Sellers typically focus on what list price will sell their home quickly and for top dollar.  But when your home isn’t the only one in the neighborhood for sale, your asking price can actually result in selling your neighbor’s home instead. How? If your home is priced too high, it can make your neighbor’s home [...]

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There’s an old real estate adage that the first offer you receive is usually the best one, and my experience in 20+ years as a Realtor supports this.  I’ve encountered several listings where the seller received an offer early on, made a stiff counteroffer back to the buyer and the buyer headed for the hills. In [...]

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