Buying

May 17, 2020

5 Tips for Virtual Home Shopping During a Pandemic

The COVID-19 pandemic has changed so much of the way we live right now, home shopping included. With Stay at Home mandates in place in much of the country, we certainly can’t be going in and out of strangers’ homes touching doorknobs, light switches, and appliances.

If you are needing to move soon, however, don’t despair! We can help you find a home and stay safely within the health guidelines. Here are some tips for home shopping during the pandemic.

Be selective about the homes you choose to visit. If you are the type of buyer that likes to cast a wide net and see everything in your price range, you may have to change your methodology. Try to narrow down your list of homes to visit to your very top choices.
Start with a Virtual Tour. Many sellers are making virtual home tours available for buyers. The technology for virtual has improved greatly in the last couple of years, from simple videos to 3-D tours with floorplans that help you feel what it is really like to walk through the rooms.
Take a Facetime tour with your agent. If the seller doesn’t offer a virtual tour, have your agent do one for you. The seller may be more comfortable allowing one agent to come in than a group of people. Your agent, masked and gloved, can take a video for you or Facetime with you while you tour the home.
Scheduling a live showing. When you find a home you really must see in person, don’t bring anyone with you that isn’t vital to the decision-making process. Besides the fact that sellers probably don’t want a family of six parading around, with fewer distractions you can get a better look and eliminate the need to come back a second time. Take lots of pictures and measurements so you don’t miss anything.
Put safety first when touring. You want to safeguard your own health, and you want the sellers to appreciate that you safeguard theirs as well. Have your agent arrange for the sellers to stay in one area of the home, or in the yard, while you look and ask the sellers to open all the doors, cabinets, and closets so you don’t have to touch anything. Wear a mask and use hand sanitizer before and after you enter the home. We are showing and selling houses during the pandemic, so don’t let it discourage you from looking. Most of the process can be handled online now, and what cannot be done digitally we are taking care of with your health and safety in mind.

By The Property Geeks

January 8, 2019

Couples Are Prioritizing Home Ownership Over Weddings

‘Tis the season to get engaged! Approximately 40% of couples get engaged during the months of November through February, with December being the most popular by far. Once the confetti has settled from popping the question, the next big decision to make usually revolves around the wedding. Of all the purchases most people will make in a lifetime, two of the most significant—and most expensive—are weddings and purchasing a home.

Because they’re so expensive, it can be challenging for couples to save for both. According to a recent survey, it looks like the majority of couples are prioritizing homeownership over a fancy (and expensive) wedding. Per ValuePenguin, the average cost of a wedding in 2019 will be just shy of $30,000. That could be a sizable down payment on a new home.

According to a recent survey from Open Listings, 64% of couples said they would delay or downsize their wedding if it meant being able to purchase a home sooner, and when asked what big-ticket item they were currently saving for, 29% of couples said a home (compared to just 17% of couples who were saving for a wedding). And the reason? Owning a home is just more important to most Americans couples than dropping tens of thousands of dollars on a wedding—53% of couples and 65% of engaged couples claimed that home ownership was “very important.”

The Takeaway

If you’ve been putting off saving for a home in order to have a large, fancy wedding, you might want to reconsider. A big wedding is a great day. But buying your dream home? That can give you a great life.

By The Property Geeks

December 4, 2018

7 Expert Tips for Moving in Winter

Winter is a great time to buy a home — there’s less competition, so that often means you can get a better home for a cheaper price. Talk about a happy holiday!

But moving in the winter? Not so great.

There are definitely challenges that go along with packing up everything you own and moving it to a new location in the dead of winter — especially if you live in an area with extreme winter weather.

But it’s not impossible! Here are seven expert moving tips to make your winter move fast and easy (and have you settled into your new place with a nice, hot cup of cocoa before you know it):

1. Keep an eye on the forecast

This one should go without saying, but if you’re planning on moving during the winter months, it’s extremely important that you keep an eye on the forecast.

Winter weather can be unpredictable, and snowstorms can hit with little warning. Check the forecast once a week in the month leading up to your move. The week of your move, check every day.

If there’s a significant amount of snow forecasted – the kind of snow that could close roads or make driving unsafe – consider postponing your move date until after the snow passes. The last thing you want is to get stuck on the side of the road with all of your belongings in the back of a truck.

2. Confirm with your movers (and then confirm again)

One of the best things about moving during the winter is that it’s a slow time for moving companies — which means a better deal for you on your moving services.

But if you do hire movers (or rent a moving truck), it’s super important to make sure you confirm all the details (like the day, time, and location) of your move. You should plan to confirm the appointment a week before and then check in the day before your move to make sure there’s no winter weather that will keep things from going as planned.

You don’t want to get stuck in a house with no heat or electricity, waiting hours for movers who have the wrong time. Make sure you reconfirm.

3. Hire a babysitter and/or petsitter

Moving in winter is tough.

But you know what makes it tougher?

Having a bunch of children and/or pets running around.

If you’re a parent (or a pet parent) do yourself a favor and hire a babysitter and/or pet sitter for the day. This will save you a ton of time and stress. Instead of trying to keep track of your children or four-legged friends as you lug boxes through the snow, you can focus on the task at hand, which will get you through the move (and into your warm home) faster.

4. Start your move as early as possible

Not only do the days get colder in the winter — they also get shorter.

Because there’s fewer hours of daylight during the winter, you’ll want to get your move started as early as possible. That way, if you run into any speed bumps along the way, you still have daylight hours to figure things out.

Even if you’re not a morning person, get started early. A winter move can be tough, but a winter move in the dark is even tougher.

5. Protect your floors

If there’s snow on the ground, that means when you move, you’re going to get snow on your shoes. And, eventually, that will mean snow (and water) all over your nice, new floors.

You don’t want damaging your floor to be the first thing you do when you move into your new home. If you move on a snowy day (or the ground is wet from a previous storm), lay down plastic tarps to protect the flooring before you start moving things in.

6. Make sure the heat is turned on in your new place…

Before you move, make sure you’ve switched your utilities and the heat is turned on in your new place. The last thing you want to do is arrive and find you have to spend the first night in your new home bundled up because you have no heat!

7. But turn it off during the move

That being said, turn your heat off during the actual move. As you move things in and out, all the heat will escape through the door, which will not only make it cold inside, but will also stick you with a hefty energy bill.

Moving in the winter can be a challenge, but with these tips you’ll be moved and snuggled up by the fire in your new home in no time!

By The Property Geeks

November 7, 2018

When is the Best Time of Year to Buy a Home?

One question that pops up constantly from both first-time and seasoned homeowners alike is “When is the best time of year to buy a home?” Potential homeowners want to know the best time of year to get the best home for the lowest price – and ideally, at a time that makes sense for their life.

It would be great if there were a simple and straightforward answer, like “the best time of year to purchase a home is between April 1 and April 7.” But unfortunately, it’s not that simple.

Let’s take a look at the factors that play into answering the question “when is the best time of year to buy a home?”

Convenience

The first factor to consider when buying a home is convenience. This is particularly important if you have a family.

If you have school-aged children, you ideally want to move in between school years, so sometime between May and August. Pulling a child out of school in the middle of the year can be challenging, and children might have a hard time to adjusting to a new school in the middle of the year.

However, because so many potential homeowners have families that want to move during this time period, it drives up the prices, making the summer the most expensive time a year to buy a home.

So, if your main concern is convenience for your family, then summer is a good time to buy – just be prepared to pay a higher price than you would at other times of year.

Inventory

If your top priority is having a lot of houses to choose from, you’ll want to buy a house during the time of year when the most homes are on the market. That way, you’ll have your pick of multiple properties and are much more likely to find a home that has all the items on your wish list.

In most areas, the highest inventory peaks in the spring, right before the end of the school year. Inventory stays high throughout the summer and then starts to fall in early autumn, with the lowest inventory happening in late autumn and winter.

If you want a variety of homes to choose from, look to buy in the spring.

Price

If your main goal is to get an amazing home at a low price, the best time of year to buy is when competition is low. When there aren’t as many people looking to buy, it drives down the prices of homes, and you can purchase property at a significantly lower rate. On average, homes cost 8.45% less in January and February than they do in June, July, and August.

If you were looking at purchasing a $500,000 property, that would bring the price down $42,250 for a sale price of $457,750. That kind of price drop could save you a significant amount of money over the course of your mortgage and lower your monthly payments.

If you’re looking to get the most house for your money, purchasing a home in the winter is definitely your best bet.

The best time of year to buy a home is largely dependent on your needs and priorities. If you’re looking to buy at a time that’s most convenient for your family (and in particular, your children), buying during the summer is a great option. If you want to see as many homes as possible in order to find a property that has everything you’re looking for in a home, you’ll want to buy a home in the spring, when inventory is at its highest. And if your bottom line is you want to pay the lowest price possible, purchasing a home in the winter, when prices are significantly lower, will be the most advantageous.

Just keep in mind that finding and purchasing a home takes time; while it happens, the chances of finding a property during the first week of looking for a home are slim. On average, people spend 30 – 60 days looking for a home and another 14 – 60 days from contract to close, so make sure to give yourself plenty of lead time to take advantage of the time of year that’s best for YOU to purchase.

And if you want to start looking, check out our Search menu or contact one of our agents. We can set you up on an auto search so you get notified right away when something hits the market that meets your criteria.

Happy House Hunting!

By The Property Geeks

June 12, 2018

A Quick Q&A on Radon

What is radon?

According to the Minnesota Department of Health…
Radon is a colorless, odorless radioactive gas that seeps up from the earth. When inhaled, it gives off radioactive particles that can damage the cells that line the lung.

Where does it come from?

Radon comes from the ground. Most soil contains traces or uranium. As the uranium breaks down over time, it turns into radium. Once the radium disintegrates it releases radon gas that rises into the air we breathe.

Why is it a problem?

Although radon occurs everywhere, it’s most dangerous in places where it accumulates to high levels such as indoors. Radon is the most common cause of lung cancer in non-smokers and the second most common cause in those who smoke. Over 21,000 cases of lung cancer can be attributed to radon each year.

How do you know if you have it?

The only way to tell if you have radon is to perform a radon test. Test kits are available online and are simple to perform. A short-term test can take just a few days and a long-term test measures levels over a period of ninety days or more. Since radon levels can fluctuate greatly over time, most experts recommend a long-term test for the most accurate reading. It’s also best to test over multiple seasons.

What do you do if you’ve got it?

The good news is that mitigating a radon problem is a fairly easy and relatively inexpensive fix. In most cases you’ll want to hire a professional who’s licensed in radon mitigation. They’ll most likely install some sort of piping that will vent the radon from the lowest level of the home up and out of the attic. Even after your system is installed you’ll still want to check periodically to make sure the radon levels in your home stay below dangerous levels.

If you’d like more information about radon, check out these resources:
Minnesota Department of Health
U.S. Department of Health & Human Services
United States Environmental Protection Agency

By The Property Geeks

May 22, 2018

70%+ of 1st Time Buyers Bought With Less Than 20% Down

Most first time buyers believe that in order to purchase their first home, they need to come up with a sizeable down payment—typically 20%.

But the truth is, you can buy a home for a lot less and, in fact, most first time buyers are.

According to the most recent REALTORS® Confidence Index from the National Association of Realtors®, a whopping 72% of first time buyers purchased their home with a down payment of less than 20%.

So what’s changed? While 20% used to be the standard in order to secure a loan, options like FHA loans are more lenient with their requirements. As long as a first time buyer has the financial stability to support their mortgage payments in the long term, they can get approved—even if they aren’t able to save a substantial amount for their down payment.

The Takeaway

If you’re thinking about purchasing a home but have been putting it off to save a substantial down payment, there’s no reason to wait. With the flexible loan options on the market, you can secure a loan with a far smaller down payment than you’d imagine—and make your dream of owning a home a reality.

Chat with one of our Property Geeks today if you’d like to learn more about your financing options!

By The Property Geeks

April 17, 2018

5 Ways to Buy a House in a Seller’s Market

Spring market is here but it’s a tough one if you’re on the buying side of a transaction. Inventory remains low and properties are receiving multiple offers within hours of being listed on the MLS. Lucky for you we’ve survived markets like this before and have some tips on how our buyers can come out ahead of the competition.

1. Act fast.

In a market like the current one, speed is of the essence. Houses are selling almost as soon as they hit the MLS. If you’re serious about buying, make sure you have an idea of what you’re looking for so you’ll know it when you see it. Then work with an agent to get set up on an auto search so you’ll know as soon as possible when a property meeting your criteria comes on the market. If something piques your interest, go see it as soon as possible. Even a couple of hours can make the difference between being an only offer or finding yourself in a multiple offer situation.

2. Write a “Dear Seller” letter.

For some sellers, getting the highest price isn’t the most important part of an offer. They may have lived in the house for decades, it might be where they raised their kids, or it might be a cherished parent or grandparents’ home. In a multiple offer situation, they might take comfort in knowing the buyers love the deck they built by hand or appreciate the perennial gardens. A buyer could mention how much they’re looking forward to big family dinners in the gorgeous kitchen, giving the sellers comfort knowing their home is going to someone who will appreciate the same things they loved in their home.

3. Keep it simple.

If sellers are evaluating multiple offers, they’re probably going to be inclined to favor the ones that ask the least of them. If you’re able to, submit your offer without contingencies, especially the sale of another property. If you’re not comfortable excluding all contingencies, make the time periods short. If it’s standard to take two weeks for an inspection, offer to hold one in seven. Don’t try to include any personal property. You may love the granite-topped dining table but if another offer comes in and those buyers aren’t asking for anything, it may make your offer look less attractive. If other things are equal, the sellers may be swayed to go with the offer that is the least restrictive.

4. Bring your best to the table.

Don’t hold back. If you absolutely love a property, submit your best offer right off the bat, especially if you know you’re in a multiple offer situation. You can also offer a higher amount of earnest money (above the typical 1-2%) to make your offer stand out. If you’re offering over market value and can afford to remove the appraisal contingency, consider using that to your advantage. You can also ask your agent about including an escalation clause. That means that if another offer comes in, you’ll top it by a certain amount up until your max is reached. You’d hate to lose out on a house you love if someone came in a few hundred dollars above you and you didn’t have a chance to increase your offer.

5. Show them the money.

In a tight market, anything you can do to make yourselves look more attractive as a buyer will work in your favor. The vast majority of buyers are pre-qualified for up to a certain amount, but it’s not as common to be fully pre-approved for a mortgage. This means your paperwork is submitted ahead of time and your financials have been verified. It makes you a stronger buyer since there are fewer things that could go wrong when the mortgage company starts submitting paperwork. If you’re able to make a larger down payment, that can work in your favor as well. Ask your agent for other ideas that will make you look like a strong buyer. If two offers are comparable, the seller will typically accept the one with the least amount of risk to them.

We don’t know what the future real estate market will bring, but right now we know buyers need to do whatever they can to make their offers the most appealing. Hopefully some of these tips will help. If you have questions about how to make your offer stand out, give us a call or tune in to #GrillTheGeeks every Thursday at 12pm on our Facebook page where we’ll answer your questions LIVE.

By The Property Geeks

April 3, 2018

Top 5 Things to Consider When Cabin Hunting

Can you feel it in the air? The chill isn’t quite as cold, the snow is starting to melt. We’ve all got CABIN FEVER and in more ways than one. Not only is everyone eager for the weather to finally warm up so we can spend some time outdoors, but it’s also prime cabin hunting season. If you’ve ever thought about buying an “up north” cabin, a cozy getaway in the woods or a lakeside vacation home, now’s the time to start looking. To help you get started, here are our top 5 things to consider when starting your cabin search:

Minnesota vs. Wisconsin

The great debate… Ask 50 people whether it’s better to buy a cabin in Minnesota or Wisconsin and you’ll get 50 different reasons why they suggest one over the other. Both have their pros and cons. Lucky for us, we have easy access to both. In our experience, here are some of the top differences. In Minnesota you have cheaper taxes but more expensive real estate. Larger lakes are more common, but they’re busier. In Wisconsin you typically have an easier drive since you avoid all those folks jamming the highways on Friday afternoon and the lakes don’t seem quite as crowded. It really boils down to personal choice.

Location

How far do you want to have to drive to your weekend/seasonal/vacation place? Awesome options within a ninety-minute drive of the metro tend to fly off the market fast. If you’re willing to expand your search beyond a two-hour range, you could find some gems. It’s also a wise idea to keep traffic patterns in mind. Will you be traveling back and forth on Friday and Sunday afternoons? If so, your commute time can double if you get caught up in the weekend migration of thousands of other cabin-goers. If your availability to take time off is somewhat flexible, it might not be as big of a concern.

The Lake

Not everyone wants a place on the lake, but the vast majority of our cabin-hunting clients sure do. If you’re angling to be on the water, make sure you know what kind of water you want…a big recreational lake or a quiet retreat? A private lake with no public access or a place with boat-up restaurants? Do your research by asking friends if they know of anyone on the lake you’re looking at. Check the Minnesota Department of Natural Resources website for their Lake Finder tool to get data on the size, water quality, invasive species and more. In Wisconsin you can visit the Wisconsin Department of Natural Resources for the same type of information. Our best tip for getting the lowdown is to talk to locals in the area. Visit with the clerk at the gas station or the bartender at the local bar. They’re the best source of info.

The Lot

Shorelines can vary from flat and sandy to steep and rocky and everything in between. Do you want to walk out of your cabin and have to trek hundreds of steps down to the dock? Do you want a ton of shade or do you prefer a smattering of sun? Are you looking for privacy or do you want to be in the middle of the action? There are quite a few criteria to take into account when considering what kind of property you want. You also have to keep in mind the local zoning ordinances which can be pretty strict along the shore. If you have any inkling that you might want to make some changes to the structure or add any additional buildings you should check with the county before you sign on the dotted line. Some might have setbacks that need to be followed or rules that you can’t rebuild existing structures if they’re within a certain distance of the water. You also want to find out about the water and waste system. Usually you’ll have a well and some sort of waste disposal system like a septic or holding tank. Make sure you know what you’re getting into on the front end so it doesn’t count you a ton of dough down the road.

Finally, the Cabin

It may seem like we left the most important item for last. But really, in our experience, while the cabin is important, it’s not THE most important item to consider. In geek terms… “You can usually change the cabin, but you can’t change where it’s located.” So really, finding the right combination of distance, lake and lot is the hard part. Typically the cabin can be changed or adjusted to accommodate your needs if everything else on your wish list aligns.

So who’s ready to start looking for a vacation property? If you’re interested, give us a call! We have agents who specialize in cabins and many of them are licensed in Minnesota AND Wisconsin so we can help you no matter which side of the state line you decide to buy on!

By The Property Geeks

January 9, 2018

9 Ways Home Flipping Shows Mislead Viewers

We all know the premise of home-flipping shows: An investor buys a veritable dump and then, with the help of a team of ready-and-willing contractors and landscapers, transforms it into the best-looking home on the block. Next, that intrepid buyer turns around and sells it for a hefty profit. Sounds like a straightforward formula for financial success, right? Well, not quite.

What makes for entertaining television doesn’t always translate into a win beyond the high definition flat screen. The following are nine ways home-flipping shows mislead viewers. So, if you’re considering turning this into your next career or even a side gig, you may want to separate fact from fiction first.