Melissa's Blog Content

Perception Vs Reality of Today’s Market 2023

 

As we head into the spring of 2023, many people are wondering about the state of the real estate market. Is it up? Down? Stable? The truth is, it can be difficult to know for sure without looking at the data.

That's why I turned to the Minneapolis Association of Realtors for a comprehensive look at the current state of the market. In this video, we'll be covering a 1 year, 5 year, and almost 20-year view of the Twin Cities market.

 

 

(Make sure to...

Inspection VS Appraisal

Both inspection and appraisal are important steps in the buying or selling of a home, but they serve different purposes. **Inspections and appraisals are both important steps in the buying or selling of a home, and they can provide valuable information to buyers, sellers, and lenders.

An inspection: This is a visual examination of a property's structure and systems performed by a certified home inspector. An inspection is performed to identify any issues or defects with...

What are the Typical Closing Cost for a Mortgage on a Loan?

 

The typical closing costs for lets say a $300,000 loan can vary depending on location, lender, and loan type.

Closing costs, on the other hand, can range from 2% to 5% of the loan amount, which translates to $6,000 to $15,000 for a $300,000 mortgage. These percentages are also depending on the consumer and loan type. We typically see the closing costs to be 3%.

Some common closing costs that a borrower may incur include:

The origin...

Whats Happening in the Housing Market Today?

With so much recent change in the housing market, you probably have questions about what it all means for your homebuying plans this spring. 

   What’s Going on with Mortgage Rates?

Last year, mortgage rates more than doubled within the calendar year. That’s never happened before, and the rapid rise caused many buyers to put their plans on hold. Today, rates are still quite volatile. With experts projecting rates will stabilize this year, that could...

What are Some of the Costs That a Buyer Will Have When Purchasing a House

Getting a mortgage involves several costs, including:

Down payment: This is the sum of money you must put down as a down payment when buying a house. Depending on the type of mortgage and the regulations of your lender, the down payment amount varies. In general, your monthly mortgage payments will be lower the higher your down payment. Closing costs: Closing costs are the fees incurred when a mortgage is finalized and...

Here are the general steps to get a mortgage and the process to get a loan for a home:

Check your credit score: Before you start looking for a mortgage, check your credit score and report. A good credit score can help you get better loan terms and lower interest rates. Determine how much you can afford: How much you can afford to borrow for a home can be calculated using internet calculators or by consulting a financial expert. This will enable you to focus your property search. Be careful...

Buyers Is This The Right Time For You?

First let's paint a picture of what's happening right now. I am not going to tell you there is never been a better time to buy because that might not be the case for you.

But we all know that people sometimes need to move, and for various reasons. So let's look at where we are at and some solutions to help you get into the home you need and want!

First, let's look at why the Feds are raising the rates. They are aggressively raising rates in the hope to cool...