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Sales Activity Continues
Published May 5, 2010 | 
No one was really sure what was going to happen once the stimulus money expired on April 30, 2010.
We have been pleasantly surprised to see that many calls are continuing to come in and people still want to buy and sell their homes!
This activity is certainly a good indication that the housing market may very well be coming out of its slump here in Hutchinson, MN.
The interest rates continue to be favorable for buyers. That fact coupled with favorable prices on homes, makes this a great time for buyers to buy homes and sellers to sell their homes.
Posted in Uncategorized | 
Add new tag, homes for sale, housing market, hutchinson, mn | 
Leave a commentKnow All Your Options
Published August 19, 2009 | Yesterday I talked with some people who had purchased their home from Hometown Realty a number of years ago here in Hutchinson, MN. They have both retired and had received a call about refinancing their home and reducing the number of years left to pay on their mortgage to 15 years (currently they have 25 years left to pay). This was very interesting to them. The mortgage people who contacted them suggested that they could get their interest rate on their mortgage down from 5.75% (current) to 4.65% (proposed). Their payment would increase a couple of hundred dollars per month. I asked how much the closing costs would be to refinance and they thought about %4,000 – $5,000. While visiting with them, I asked if they were comfortable with the higher payment that was being suggested and they said, “yes.” So, I suggested to them that rather than increase the amount of money that they owe ( current principal amount plus new closing costs), that they simply pay the higher payment on their current mortgage. By doing so they would reduce the amount of time left on their mortgage easily to 15 years. They were so glad they called and talked to us about this. So, the moral of the story is “Know All Your Options.”
Up To $8,000 Could Be Yours!
Published May 6, 2009 | It took us long enough to get the word out to everyone that the stimulous package that was passed earlier this year has a wonderful GIFT in it for people who have not owned a home for three years! This GIFT will be given to buyers who occupy their home by the end of November, 2009. Although that seems a long time from now, it isn’t and you don’t want to wait. If all the predictions are correct, we are at the bottom of the real estate market and waiting will only cost you more money in higher priced homes. I can see some real sure signs that people are believing we are at the bottom. Investors have been somewhat sitting on the sidelines just waiting and in the last several weeks, they are coming out like crazy. Multiple offers on foreclosed properties are happening everywhere and many of those making the offers are investors. Remember what happens to prices when demand becomes high? Prices go up. Simple supply and demand. So, don’t wait. Find yourself a home here in Hutchinson and the surrounding area now and get your $8,000 deposited into your account!
The Pendulum has Swung
Published April 27, 2009 | The mortgage business has gone from lending money to anyone that has a pulse to scrutinizing absolutely every little thing when a buyer’s application is submitted for approval. This isn’t all bad, it’s just that the buyers have to be absolutely squeaky clean with no unanswered questions in order to get a mortgage today. I’m told from some of the lenders that the underwriters (the final decision makers) have huge authority to approve or reject a loan today. The lenders are frustrated in that the rules for RD and FHA loans are continually changing and what the lender tells a potential home buyer today may not be true next week. All this will hopefully settle down (hopefully sooner rather than later) so that we and the lenders will know that when we give information to buyers, that information won’t change.
Good News from the Media!
Published March 24, 2009 | Finally, 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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