From MNRealtor.com, "Inventory issues continue to plague first-time home buyers while competitive pressures have sparked bidding wars. By the end of August, there was only a two-month supply of housing available for sale, which is a historic low."
WHY is inventory staying so low?
Because more people are choosing to stay in their current homes and remodel. We, at Metropolitan Home Team, believe a lot of this is due to COVID and people over 65 being scared to do anything right now. This doesn’t provide our "existing home" inventory supply the number of homes needed for people looking to upgrade.
Regarding new construction: Yes, we have a ton of it. But that still is not enough to meet today's demand. Plus, for anyone looking to buy a home under $500,000 there is a very limited supply of new construction at that price point.
Plus, the cost for materials and labor is going through the roof. New construction is only going to get more expensive in 2021.
Leaving you to one option... Purchasing existing homes!!
For those looking to buy under $400,000 we can tell you the environment is extremely competitive. When it comes to what we call the "Pinterest Home."
These are like the homes our Team Leader, Tim Murphy's company GroundUp-Development.com remodels and puts on the market.
We are seeing remodeled homes or "Flips" selling with 10,20,30 offers if they are priced right.
It is absolutely crazy!!
However, it really is simple SUPPLY & DEMAND economics at play.
WHAT does this mean for you... The Buyer
If you are a buyer in today’s market it is in your best interest to work with a trusted real estate professional. They will help you navigate these turbulent waters.
If you are working with a real estate professional who has vast experience and resources you might even be able to find a GOOD Deal. Or, Create a GREAT Deal by purchasing an existing home that needs work. Getting the work done. Then watching your assets soar in value.
Remember, not all agents are created equal.
Having an agent, like Tim Murphy (Facebook.com/MurphsLegend), who is a successful real estate investor. Who is buying and selling properties right now today. Who has real time knowledge about how to find “Off Market” deals. (Like the one we currently have in Linden Hills, Mpls right now.)
This is the competitive advantage you need to be successful in today’s real estate market.
WHAT does this mean for you... The Seller
There has never been a better time for YOU to maximize your Return On Investment.
If you are looking to sell a property under $500,000 you are perfectly positioned to take advantage of a flood of buyer’s who want nothing more than a NEW HOME.
With interest rates on 30yr fixed money below 3% buyer’s are anxious to take advantage of it. They will pay more because their payments are less. It’s almost like getting FREE MONEY. You would be crazy if you didn’t seriously consider investing in real estate right now because of the low interest rates.
Plus, the fact we are all locked in our homes and school is starting…
We believe this will make buyer’s even more eager to make a move. Because if you are going to lock me and my family in our home. Well, then I better really love where I live.
For many, that means living in an apartment with 700, 900 or even 1,200 finished square feet won’t cut it!!!
Especially if you are in that space for 15-18hr every day.
HOW do I maximize the value of my home?
Great question, we were waiting for you to ask us this!!
Again, it comes down to selecting the right real estate professional with the resources and experience to transform your home into the “Pinterest Home” we were telling you about.
Like our team and Tim Murphy did on this home: https://www.metropolitanhometeam.com/home-listings/1909-shakopee-ave-e-shakopee-mn-55379
Because when you provide a “Pinterest Home” to the market. It’s like Bees to Honey. They can’t resist it!!!
Now, don’t get me wrong… This is no easy task. Especially in today’s market when every contractor on planet earth is SWAMPED with work. Most of them are charging 20%, 30% or even 50% more than they normally would.
WHY are contractors charging so much?
#1 Because they can. Just like you will charge so much more for a buyer to buy your home after our contractor is done transforming your home into the perfect “Pinterest House.”
#2 Because the highest bidder determines who contractors should spend their time working for. Wouldn’t you do the same if you were in their shoes. Why work for less when you can make more.
What does this mean for YOU… The one looking to maximize your ROI on your home when you sell?
It means you better partner with the BEST!!
The best real estate expert you can find. One who has been investing in real estate for 20 years and has a track record to prove it.
Like this home in Linden Hills (click link) our Team Leader, Tim Murphy, just finished executing our Value-Driven Approach on: https://www.metropolitanhometeam.com/home-listings/4105-ewing-ave-mpls-mn-55410-ddtcc-mj5gs-dsm7c
SOLD in 7 days!!
One who has transformed, a.k.a Flipped, hundreds of homes over the last 20 years.
If you want to maximize your ROI you need to find a real estate team who has a well oiled machine. One that includes interior designers, experienced contractors, veteran agents and most of all. A team who puts your needs first.
We, at MetropolitanHomeTeam.com, do just that by:
“Executing Our Value Driven Approach”
Devised through over 20 years of personal real estate investing experience - We treat your home like an investment.
Protecting you from making fundamental mistakes, costing you thousands.
While at the same time executing our approach with our experienced team of designers, contractors and digital marketers.
Our Approach is proven to give your home a competitive edge.
You can’t control a lot of things - real estate market trends, mortgage interest rates, lending requirements, what your neighbors home sold for - but what you can control makes all the difference in how much extra profit you will collect from the sale of your home.
We are here to help YOU maximize your ROI on the sale of your home.
Contact Us Now - To Find Out How
