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Nobody knows Hutchinson, MN real estate better than the professional realtors at Hometown Realty. Their years of experience in the real estate industry and past successes make them the "go-to" realty company for people who are looking to buy or sell property in the Hutchinson, MN and McLeod county area. Whether it is residential, commercial, agricultural or lake property, Hometown Realty in Hutchinson, MN delivers results.
The recent ups and downs in today's economy have left a lot of questions when it comes to real estate. The Hometown Realty real estate blog will try to answer some of those questions and keep you informed on the latest trends in the industry and news regarding the Hutchinson, MN (and surrounding community) real estate market.
Find out for yourself why Hometown Realty is the realtor of choice in Hutchinson, Minnesota. Feel free to give us a call, send us an email or stop in to see us. Our friendly realtors can assist you with more information about Hutchinson, MN property listings, McLeod County homes for sale, and Hutchinson, Minnesota real estate.
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The Race Is On
Posted on February 23rd, 2009 No commentsA few weeks ago I talked about the multiple offers that we were starting to see. Well, that’s intensifying with the “spring” market approaching. There are alot of buyers that have been making offers on homes in the last couple of weeks and many of them on the same houses. It’s very encouraging to see that so many buyers are realizing what a prime time it is for them to be purchasing a home or investment property. Recently I have read that the prediction by some economists is that we will have inflation beginning to creep into our housing market shortly. Some predict that inflation will regain all the value that was lost in the housing market over the last two years, in the next five years or so. Sellers have become much more realist about what price they can expect to get for their homes, and therefore the buyers may not see another “opportunity” to own homes as they have right now. The interest rates remain favorable and with the stimulus package incentives, anyone considering buying a new home will be glad they did in 2009. So, the race is on to take advantage of all that is taking place in the real estate market here in Hutchinson, MN.
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Our Job Is To Find Solutions
Posted on February 15th, 2009 No commentsLast fall I heard an economist speak to a group of real estate people and mortgage brokers. He spoke about what we could expect in 2009 in our industries. He told the mortgage people that there was good news and bad news for them. The good news was that the interest rates would drop and they would be flooded with homeowners who would want to refinance. The bad news for them was that many of those who wanted to refinance would not be able to because they were upside down on their mortgages (they owed more than the home is currently worth.) I remember thinking, “well, I’m sure we in the real estate industry here in Hutchinson, MN will also be faced with a similar problem.” The guy was right! Just last week I met with four homeowners who wanted to sell their homes, and I had to tell them that it was not possible for them to sell and pay off their mortgages in the market we are currently in. Fortunately, none of them had to sell. We discussed other options they had such as renting out their current home (which two have decided to do) or just waiting for a more favorable real estate market for them to sell their current home. This real estate market is not so different than it was in the early 1980′s. Back then we were faced with huge interest rates that most people could not afford and so we had to find other solutions like contract for deeds, seller second mortgages, assuming existing loans. Most real estate agents today weren’t around during those challenging times and don’t understand what we are talking about when we mention assumable loans. Finding solutions to help people accomplish what they want to do is what our jobs as real estate agents is all about. It’s also important that we be honest with home buyers and sellers about their expectations. This is a very exciting time in the real estate business as we are all part of a very challenging market.
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Multiple Offers
Posted on February 8th, 2009 No commentsEven though the real estate market in Hutchinson, MN is still quieter than we’d like, we are starting to see multiple offers come in on quite a few properties. That certainly is a good sign! There are buyers out there just waiting for the right “deal” to come along and when it does, the buyers are making offers. A person has to wonder though, are these buyers purchasing the homes that they want, or are they just buying “a good deal?” Regardless, this activity this early in the year is a really good sign for the real estate market in Hutchinson, MN!