Real Estate Blog

Hello and happy house hunting!

It's been a busy week of real-estating and here's what I'm seeing in the market this week:

Market Update
New Listings Taking a Breather
It seems that new listings are coming to the market in waves now.  The first big waves hit right as the season begins in early February.  That gets worked through and new waves of new listings roll in.  This past week, it felt like we were in a trough rather than facing a wave.  New listings slowed a bit and that might be good news as I'm also seeing a bit of...

Buyer Fatigue
I have buyers who've made and lost a couple of offers and have seen a slew of homes and this short-term lull in the market is a good time for them to take a break, regroup and get ready for the next wave of listings.  Even today, I'm seeing listings picking back up, so I know there's more to come for them.  If you've been in the market for a while, maybe it's time to take a break of a week or so and then re-engage fresh.  If that break means you're willing to consider a new real estate partner/advisor/realtor, I'd be happy to talk with you if you're no longer engaged with another agent.

Interest Rates
Rates have moved up a bit in the last week.  As you may know, rates are dictated mainly by what the Federal Reserve and US Treasury leadership does and says.  Rates then move accordingly.  Right now, inflation is looking like it will be tougher to tame and that's lead financial markets to start considering that the Fed may not cut rates at all this year.  There's already talk that the Fed may have to raise again, if that's how they intend to reign inflation in.  So, rates have moved up a bit as a result.  If you're about to jump into the buy-side of the market and would like the names of a couple of good mortgage lenders, let me know.  I have some great people I turn to when buyers need lending advice!

Open Houses this Weekend

Saturday, April 27, Noon - 2pm
6428 Fifth Ave S, Richfield, MN
$619,900  4 bedrooms, 2 bathrooms, 2 car attached garage, 2761 square feet
More info here:  https://bit.ly/3JGA88s
An amazing, completely updated mid-century on Milner Pond.  Wait til you see the back porch with Jalousie windows - you get the Florida view without leaving home!  Upgrades throughout.  Located just south of Hwy 62 and close to everything.  Stop by for a look!

Sunday, April 28, 11am - 1pm
347 Cleveland Ave N, Saint Paul, MN
$530,000  4 bedrooms, 2 bathrooms, 2 car detached garage, 2514 square feet
More info here:  https://bit.ly/4aUc7qE
Located in Saint Paul's Merriam Park neighborhood, this completely updated 1920's two-story has all of the character and charm you expect from a home of this era - hardwood floors, original woodwork, classic styling - along with being completely updated for the way we live today.  Check out the bright new kitchen, open spaces, spacious bedrooms and even a fully finished basement.  It's a wow, so come and make it yours!

Sunday, April 28, 2pm - 4pm
1409 E 46th St, Minneapolis, MN
$449,900  4 bedrooms, 3 bathrooms, 2 car detached garage, 1970 square feet
More info here:  https://bit.ly/3xN8WSU
Cute story and a half, bungalow style home in Minneapolis' Northrop neighborhood.  Just a short walk to Minnehaha Creek and Lake Nokomis.  Updates include fresh paint, newly sanded hardwood floors, updated kitchen and new main bathroom.  It's a great value in a 10/10 location.  Be sure to take a look at this one!

Summary
By the way...yes, I'm a realtor.  I help buyers find the home of their dreams and sellers get the most value possible for their home.  When you're ready to work with an expert who's in business to help you succeed, reach out!

Have a great weekend!
Mitch