Minot Real Estate and Community News

Nov. 22, 2018

Why I’m particularly thankful today

Thanksgiving’s a day we get together with family and friends. Some we see often. Others we see but a few times a year.

We come together to give thanks for all we have in our lives…and eat way too much.

Here’s what I’m thankful for this year (and every year)...

-My health and my family, even though some days my family drives me crazy, I still love them!

That’s basically every day of the year for me.

Being a real estate agent, I’m constantly gathering with friends and family. (Minus the eating too much part.)

So, I’ve gotten to see many of you throughout the year, and celebrated with you along the way, when you bought or sold a home.

I’m thankful to each and every one of you who gave me the opportunity to be a part of your real estate celebrations this year…

… and I look forward to celebrating with many more of you in the coming year, and years to come, when you buy or sell a home.

But for now, enjoy this day of rest and thanks. (And go eat way too much!)

P.S. Oh, and another thing I’m thankful for… all of the clients you refer to me. Remember: I’m never too busy for your referrals.

Posted in Blog
Nov. 11, 2018

Veterans have given us more than freedom

Who knows how we’d live if it weren’t for our veterans? They serve and fight so we can live freely.

But, did you know that veterans are the reason why so many of us live where and how we live?

They’re literally the reason why so many people live in “suburbs”. While mass transit made it possible, veterans played a large part in suburbs developing.

Right after World War II, the suburb of Levittown (in Long Island, New York) was built to offer veterans an affordable home.

While it wasn’t the first suburb, it’s seen as a tipping point that led to suburbs becoming more and more common.

So, thank you to all of our veterans today, and every day. It’s because of you that we can live freely — where and how we choose to live — in more ways than we even think about.

P.S. If you know a veteran who is thinking of buying a home, let him or her know I’d be happy to be of service. I’ll make sure they know about the real estate benefits they’re entitled to for having served our country

 

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Posted in Blog
Nov. 4, 2018

What does the time changing have to do with real estate?

Millions of people adjust the time on their clock now that daylight savings is ending.

But what’s weird is that it’s not done everywhere; also, the actual date of when the time change occurs is different in some areas of the world.

It isn’t universal.

Adjusting to the time change is confusing enough for people on a local level. So, forget about trying to make sense of it nationally, or globally.

Why does it exist? Is it still useful? Why doesn’t it get observed everywhere? All questions people may ask, but none of them really matter. It isn’t worth debating…

Because, on a local level, the only thing that matters is that you have to adjust the your clock in order to be in sync with everything and everyone around you.

It’s similar in real estate…

The overall process of buying or selling a home is pretty similar from one area to another.

But there are regional differences in how the process works, the rules, regulations, and laws. And all of these things change quite often.

This is usually a bigger issue when someone is moving from one area to another. A typical statement real estate agents hear is, “That’s not how it is done where I come from…”

That might be true. And the way it is done in another area may even be better, or make more sense. But it doesn’t matter. Because the only thing that matters is how things are done wherever you happen to be buying or selling.

Which is why hiring a local real estate agent who is on top of the local process, rules, regulations, and laws is so critical.

P.S. Remember to adjust your clocks. It’s “fall back” in the Fall. So we gain an hour of sleep.

But, if you’re thinking of buying or selling, don’t sleep on it! Just give me a ring. I’m on top of all the local processes, rules, regulations, and laws.

 

Posted in Blog
Oct. 31, 2018

If a house is haunted...

This is the time of year for haunted houses. They pop up for a few weeks, people flock to them, and then they disappear until next year.

Some people love the controlled scare of haunted houses, while others wouldn’t be caught dead (pun intended) in one.

But what about a real haunted house? How many people really want to flock to them?

Surely there’s some people who would love to check one out. But how many people would actually buy a house that’s haunted?

Which brings up a question we hear in real estate once in awhile…

If a house that’s for sale is haunted, do real estate agents need to tell you?

Real estate rules, regulations, and laws vary from area to area, so there’s not just one answer to that.

But in our area…

…you know what, instead of just giving you the answer, why don’t you take a guess.

What do you think the rule is in our area? Also, do you think owners and real estate agents should disclose if a house is haunted or not?

Looking forward to seeing your response!

P.S. Would you buy a haunted house?

www.teamrockstars.com

Posted in Blog
Oct. 22, 2018

Am I nuts for asking this?

Today is National Nut Day.

Did you know that peanuts aren’t even nuts?

Nope. They’re legumes. But they get lumped in with every other nut out there, by lots of people.

Same with real estate agents…kind of.

There’s certainly some real estate agents out there who are nuts…and the ones who aren’t often get lumped in there with them.

I want to make this industry as nut-free as possible, so…

I’d love to know:

What drives you nuts about real estate, or real estate agents?

 

www.teamrockstars.com

Posted in Blog
Oct. 15, 2018

Hows the Market?

How’s the market?  It’s a question we’re often asked in real estate.  I’m a nerd for market data and stats and love to “dig” to give you the exact answers.  The data I’m using was taken from the Minot Multiple Listing Service and is for all residential sales of single family homes or condo/townhomes in Minot only – for the period of January 1st 2018 thru third quarter ending September 30th 2018.  Whew…now that the disclosure is out of the way, let’s talk about numbers!

 

Thru the 3rd quarter, we’ve sold 404 single family homes!  This means a total of 808 homeowners – because every sale has both a home buyer and the homeowner selling the home.  I’m proud to say Brokers 12 has led the market both in listings sold and buyers represented for single family homes.  

 

Now let’s talk about the houses and prices!  These homes are typically on the market an average of 100 days from the date the sign goes in the yard to a new buyer moving in.  Not too bad!

 

They also sell for about 95% of the price they were listed at.  This means that even though buyers have lots of choices of homes today, sellers generally hold out and accept offers within 5% of their asking price (remember this when negotiating).

 

The average sold price of the 404 single family homes was $238,341.

Another thing you might be wondering about is where did those 404 new home buyers get the money for their purchase…..?  Well, 178 of them utilized conventional financing, meaning they had a minimum down payment of at least 3% of the purchase price.  77 of them purchased using FHA funds which is a government backed loan requiring smaller down payments from 0 to 3.5%, 110 were VA loans – Thank you to our service men and women!  And 39 were either cash sales or non-traditional financing.  

 

 

On to condos/townhomes….Refer to above disclaimer again!  This is for Minot only and thru the 3rd quarter of 2018.

 

We’ve sold 94 condos/townhomes for an average selling price of $188,853 or 93% list to sale ratio.  If you’re looking for a deal, according to past statistics, you should be able to negotiate harder on a condo or townhome.  Don’t know the difference?  Contact me and I would love to explain!  These 94 condo/townhomes are usually on the market for 128 days.  37 were financed conventionally; 12 with FHA loans; 14 with a VA loan; and 30 cash or non-traditional sales.

 

 

 

Remember, these are all “average” data figures I gave you.  If you’re curious about the specific market pertaining to your home – each home is different – and I would love to provide you with a complimentary market analysis.  Even if you’re not interested in selling today, sometimes this is just good info to have for your personal balance sheet, if you’re considering refinancing, or even doing home improvement upgrades.

 

 

Posted in Market Updates
Oct. 9, 2018

•So about this Christopher Columbus guy…

Here’s a question for you…

Yesterday was Columbus Day.  Did Christopher Columbus really discover America?

The answer depends on who you ask, or what you read.

But at this point, enough people believe he didn’t even step foot in America, let alone discover it.

So, why does he get celebrated?

Well, even if he didn’t “discover” America, he certainly did other great things worth being recognized for.

Years ago, real estate agents were given credit for “finding” people the perfect house. Then, the Internet made “discovering” almost any house on the market a pretty simple task. Even a novice, with no real estate experience, could find the house of their dreams on their own.

This kinda made people start to question the value of real estate agents…

Made it seem easy.

Well, if it were simply a matter of finding a house, that might be a valid conclusion.

But there’s so much more to it.

Stumbling across America, or a house to buy, is not the same as successfully staking your claim, and making it your new home.

Rather than give a laundry list of what a real estate agent does beyond just helping someone find a house, let’s just paint a quick picture…

You’re on a boat, back in 1492. You’ve sailed the ocean blue. You reached land. Now what? How do you actually make it your new home? Can you possibly anticipate everything you’ll encounter? What do you do first?

Finding a house, or a buyer for your house, is only one small part of the process. For most people, navigating the entire process of buying and selling a house is a whole new world. And that’s where great real estate agents earn their respect.

 

 

 

 

www.teamrockstars.com

Posted in Real Estate News
July 31, 2017

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates