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Posted by Unknown on March 27, 2014

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Supply & Demand Will Determine Future Home Values

Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. Every month this year, demand ( buyer traffic ) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years. Here are the numbers for supply and demand as compared to last year since the beginning of 2018: The increase in the June numbers doesn’t mean that prices won’t continue to appreciate. In that same report,...

Minnesota Fall Home Maintenance Checklist

Those of us old enough to remember the Halloween Blizzard of 1991 know that while our Minnesota fall season is beautiful, winter can show up unexpectedly at any time. 25 Photos that Perfectly Capture the Halloween Blizzard of 1991. There are steps you should be taking to get your home ready for winter, and here is a checklist to get you started on your Minnesota Fall Home Maintenance. Minnesota Fall Home Maintenance Checklist Rake Leaves and Care for lawn, trees and shrubs. Grass roots are growing deeper to prepare for winter. Fertilize your lawn and reseed as necessary. Fall is the time many trees become dormant, this may be the best time to trim branches depending on the type of tree. Check out this article for more information on pruning and best timing. Cut back plants and clean out gardens. If you have perennials around your house, cut them down to right above the ground. Sensitive plants may need to be covered. Dead plants from the vegetable ga...

Is Now a Good Time to Rent?

People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 until today: As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead. Bottom Line One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today! Powered by WPeMatico The post Is Now a Good Time to Rent? appeared first on LuxHomesMN . from WordPress http://ift.tt/2EZpw5Z via IFTTT

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