The real estate market is always changing! It is my goal to constantly share what I see in the world of Twin Cities real estate by bringing to you a little bit of my everyday life as a Realtor. Be sure to find me on Instagram and Facebook to stay up to date on best practices and market trends that could help you strategize buying or selling your Minnesota home!
Sounds great, right?
I’m seeing a lot of professionals in my industry talk about how great this is.
Anyone that has worked with me knows I’m not a “rose colored glasses” realtor, and I will always transparently talk about any potential risks involved in any decisions my clients are making.
So let’s talk about how this program actually works, and what risks may be involved.
EXAMPLE:
You borrow 3% of the down payment from the bank utilizing a 0% interest loan.
You finance the remaining 97% of the mortgage with traditional financing at the market rate.
To be clear - you are taking out TWO separate loans. BOTH of which, must be paid back.
The down payment is not FREE money.
So you close on your new home no money out of pocket. What could go wrong?
We have been in a market that has appreciated at great heights for so long, and while that isn’t expected to change any time soon, what if it does?
I’ll play devils advocate here 😈
I feel like anyone in the trenches of the real estate market right now can relate to the song Tubthumping by Chumbawamba. Buyer, seller, and agents alike.
If the song doesn’t immediately come to mind, go ahead, Google it.
Listen, this market is not easy.
For anyone.
S T R A T E G Y. All day, every day.
This week I am implementing a 7th strategy for a listing of mine.
It takes WORK and EFFORT to move listings in this market. 👏🏼
When hiring a realtor, make sure they have a marketing plan that involves more than price adjustments. Hire a realtor that doesn’t give up until you win.
What does week 1, 2, 3, and beyond look like?
Petition to make Tubthumping the 2024 real estate theme song. 🎶
Also, good luck getting that song out of your head. You’re welcome.
As a realtor, I view many listings every week. Some listings are presented beautifully, some not so much.
This week I saw one too many things that made my jaw hit the floor, and I decided I have to share them with you.
I don’t share these things to throw agents under the bus, but to prove to you that THIS IS REAL.
Shockingly, there are agents out there that choose to operate their business this way, whether their clients know about it or not.
Have a HIRE VS CHOOSE mindset about your realtor.
❓ASK QUESTIONS❓
- How will you communicate with me?
- How do you communicate with other agents?
- What hours are you available?
Good agents who advocate for their clients 24/7 want to run the other way if they see in agent remarks that another agent states they will only communicate via text, or that they are not available on the weekends.
Your agents ability and willingness to communicate not only with you, but with other agents WILL determine your success as a seller.
Having been on a team in the past, I get asked quite often my thoughts around being on a team vs being a solo agent. I love to dive into this topic and have this conversation because there’s a lot to unpack, and I have a lot to share from my own personal experience.
We also dive into AI and Chat GPT, which I don’t have a lot of experience with, but I’ll share my two cents anyway!
However, let it first be known that Nate is in fact, older than me 😂
Alex Murray - Edina Realty
There’s No Place Like Home 👠
612-242-8658
ITS HERE…
2024’s Monday-est of Mondays… 🥴
I’m all for treating yourself 💁🏼♀️
BUT, If you want to get creative with that refund this year here is an idea that your future self might thank you for..
If you make ONE extra mortgage payment towards principal and interest every year, you shave around 4-5 YEARS off the life of your loan.
‼️ THINK ABOUT THAT ‼️
If you are feeling extra ambitious to get that mortgage paid off, making bi-weekly payments will pay your mortgage off about 5-6 years earlier since the interest is compounded monthly!
Vacation, shopping, shoes 👠 ….
or paying off your mortgage 5 years early and getting yourself one step closer to financial freedom ⁉️
⁉️Should you work directly with the listing agent when purchasing a home⁉️
A few weeks ago, I got an email that allows me to offer a little bit of a different perspective on this hot topic in the world of real estate.
There are a handful of buyers that think working directly with the listing agent will “get them a deal” or save them money. Commissions are negotiated up front, and if anyone is “saving money” in this scenario, I can tell you it’s more than likely the seller.
My head wants to explode when I think about where to even begin when justifying the value that a GOOD buyers agent brings to the table, and the importance of having your own representation.
In this scenario, the buyer didn’t even get a chance to view the home because they are choosing not to hire their own representation.
Monetary factors aside, this prospective buyers email allowed me to add to my perspective on the matter and I wanted to share!
Alex Murray - Edina Realty
There’s No Place Like Home 👠
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For sale: Properties which are available for showings and purchase
Active contingent: Properties which are available for showing but are under contract with another buyer
Pending: Properties which are under contract with a buyer and are no longer available for showings
Sold: Properties on which the sale has closed.
Coming soon: Properties which will be on the market soon and are not available for showings.
Contingent and Pending statuses may not be available for all listings
