2016 Minnesota summer real estate market in Minnesota is upon us. So far this year a continued lack of inventory in the marketplace is still driving up home prices but luckily for buyers the interest rates have remaining really low.
sellers looking to sell their homes can expect top dollar in this sellers market. However many sellers are finding themselves holding off for one very big reason. That reason being they do not want to get stuck not being able to find their next home. This catch 22 is keeping our inventories low and tight.
foreclosures are at the lowest point in years so the bargain hunter may have missed the boat on finding that great deal. Many of the foreclosures left are in rough shape or demanding much higher prices in the marketplace because they can.
Buyers you still have time to take advantage of the low low interest rates. Don’t let the low inventory get you down this just means you need to be ready to move forward as soon as you find a home you like. this means getting pre-approved and being diligent on your search. Don;t be discouraged if it takes a few homes before you are successful. in this tight market you will have competition but persistence is the key. keep in mind that in a strong sellers market you are likely to have little to no wiggle room on the listing price. Sellers have no incentive right now to lower prices when priced right to begin with.
Whether you are a buyer or seller please contact me today to begin your next adventure. Sellers can take advantage of the low commissions and buyers can be sure they are being represented well.