Experience you can trust. Professionalism you can count on.
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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Be Careful When Co-Signing
Posted on March 30th, 2009 No commentsRecently one of our clients learned a hard lesson. Some time ago they had co-signed a loan for one of their children. Now, they were purchasing a new home in Hutchinson, MN only to find out when they applied for their mortgage, that their child had been late a couple of times on the loan they had co-signed for. Unfortunately, the late payments affected their credit score and their debt to income ratios were also changed because of the debt they had co-signed for. Fortunately, they were still able to buy their new home. So be careful when co-signing loans for others.
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Good News from the Media!
Posted on March 24th, 2009 No commentsFinally, the media is reporting the good news that is happening in the real estate market. We’ve seen so much negative print over the past year, that we are elated that the media has decided to recognize positive happenings in the real estate market. Pending sales are out performing last year by some 24+ percent (as reported by the Minneapolis Area Assocation of Realtors.) That is a significant change for the good. It’s so wonderful that buyers who have been sitting on the fence have begun to recognize that the price of homes are not going to stay this low forever, and the interest rates may very well move up as the spring market continues. Many are predicting that as the real estate market continues to improve, we are going to see significant inflation in prices of homes over a short period of time. This is good news for people who have been waiting to sell their homes and it is also a wake up call for all the buyers who are waiting for the price of homes to hit the bottom. It appears that we are there!
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We Survived!
Posted on March 15th, 2009 No commentsWhat a beautiful weekend we had and it looks like the rest of the week is going to be very mild as well. We survived winter! There were a few weeks that I wasn’t so sure why we chose to make Hutchinson our hometown, but then I remembered. The Hutchinson Leader’s editorial last week said it all when they reminded all of us in Hutchinson, MN of all the good things that are happening in our community that will positively affect our economy here. I hosted an open house this afternoon at one of the homes that Hometown Realty has for sale, and there were people coming through the home the entire time. That is an excellent indication that the real estate market here in Hutchinson, MN is alive and well. One of the interesting things that I have observed is that not one single potential buyer that I have talked with in the last while has mentioned the stimulus package that is out there. Why aren’t buyers more excited about it? I suspect that one of the reasons is that there has been so much confusion with the $7,500 tax incentive that was in place before the new $8,000 one was passed. Well, I have to tell all potential buyers that one of our clients who purchased a home this year has already had their money deposited into their account! It is real and it is a great benefit for purchasing a home in today’s real estate market where the prices are down and the interest rates on home mortgages are very low. If you want more information about this $8,000 tax credit, please call my office or any mortgage company to see how you can take advantage of it. And… I would be amiss if I forgot to wish all of you a Happy St. Patrick’s Day on Tuesday!
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Good News to Report
Posted on March 9th, 2009 No commentsThe real estate market in Hutchinson, MN is continuing to come alive. Right now, there are less homes for sale than there were a year ago and the pending sales have shown an increase over a year ago. (Pending means that a purchase agreement has been written by a buyer and the seller has accepted the offer, but closing has not taken place.) This is good news because according to John Tucillo, one of the most respected real estate economists in the U.S. and the former Chief Economist for the National Assocation of Realtors, there are three things that must happen in order for the housing industry to recover. They are 1) a decline in the new listing acitivity, 2) a decline in the days on the market, 3) an increase in the sales price to list price ratio. We started seeing a reduction in the number of homes on the market last fall and throughout the winter months. In the last quarter of 2008, we saw the days on the market begin to decline. Now, we are hoping that with the increased pending activity, the third phase of this recovery will begin. I’m told that Hutchinson Technology has started calling back some of their employees and that also is a good sign for all of the Hutchinson, MN residents and businesses. I also noticed over the last few weeks that the parking lots at the retail stores continue to be full as well as the restaurants. That tells me that things are not as dire here as they may be in other parts of the country. So, don’t pay attention to all the doom and gloom. Let’s focus on the good things that are happening here in Hutchinson, MN.