New Listing!

November 12th, 2019

Just Listed…

1107 Breen Street, Saint Paul, MN, 55106Amazing Opportunity

This single-family home features an oversized garage, fresh paint, and refinished hardwood floors. If you or anyone you know might be interested in this home, give us a call! (651) 777-3434

Happy Veterans Day!

November 11th, 2019


A VA Loan Could Be Just For You

Call us today if you’d like to learn more about all the different loans there are and what the best option is for you… (651) 777-3434!

Get A Head Start On Selling Your Home

November 7th, 2019

Start Preparing Now!

Selling your home might not be at the forefront of your mind, but it should be! There are many things that go into selling your home and starting to look into those things will minimize stress later on. Three important aspects to keep in mind are to research your local housing market, declutter your home, and give it some extra love.

    1. Research Your Local Housing Market: Make sure you know the value of your home. Looking at the comparable homes in your neighborhood will give you an idea of how much your home is valued at.
    2. Declutter Your Home: Organizing your home will help attract more buyers when the time comes around. Without the clutter, buyers are able to imagine their own belongings in the space. Remember decluttering can take a good amount of time, so getting started on that sooner rather than later will definitely help out when you start packing your belongings.
    3. Give Your Home Extra Love: Freshen up your house with a fresh coat of paint and stage your home! A fresh coat of paint on your walls will show that your home is updated. Staging your home includes the inside and outside! Redecorating the living room with a new coffee table or updating the kitchen table are perfect ways to spruce up a space.

Bottom Line:

  • Know how the housing market is doing in your neighborhood so you know what your home can go for.
  • Organize your home to appeal to more buyers.
  • Stage your home and add a fresh layer of paint to your walls to elevate the look of your home.

 

What Happens Every Hour

November 5th, 2019

 

BOTTOM LINE:

  • Over 500 homes sell every hour
  • Positive equity is gained
  • The value of your home goes up

How to Determine If You Can Afford to Buy a Home

October 30th, 2019

How to Determine If You Can Afford to Buy a Home | MyKCM

The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today.

It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component to that equation: mortgage interest rates.

Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser’s ability to afford a home.

Here are three reports validating that purchasing a home is in fact more affordable today than it was a year ago:

CoreLogic’s Typical Mortgage Payment

“Falling mortgage rates and slower home-price growth mean that many buyers this year are committing to lower mortgage payments than they would have faced for the same home last year. After rising at a double-digit annual pace in 2018, the principal-and-interest payment on the nation’s median-priced home – what we call the “typical mortgage payment”– fell year-over-year again.”  

The National Association of Realtors’ Affordability Index

“At the national level, housing affordability is up from last month and up from a year ago…All four regions saw an increase in affordability from a year ago…Payment as a percentage of income was down from a year ago.”

First American’s Real House Price Index (RHPI)

“In 2019, the dynamic duo of lower mortgage rates and rising incomes overcame the negative impact of rising house price appreciation on affordability. Indeed, affordability reached its highest point since January 2018. Focusing on nominal house price changes alone as an indication of changing affordability, or even the relationship between nominal house price growth and income growth, overlooks what matters more to potential buyers – surging house-buying power driven by the dynamic duo of mortgage rates and income growth. And, we all know from experience, you buy what you can afford to pay per month.”

Bottom Line

Though the price of homes may still be rising, the cost of purchasing a home is actually falling. If you’re thinking of buying your first home or moving up to your dream home, let’s connect so you can better understand the difference between the two.

Know The Facts About Buying A Home

October 28th, 2019

 

Bottom Line:

  • 78.1% of loan applications were approved last month
  • You don’t need to have more than 20% down
  • Over 90% of homeowners have positive equity

 

Buying a home doesn’t have to be a scary and stressful process!

We are here to help whenever you are ready, just give us a call at (651) 777-3434!

Housing Prices

October 21st, 2019

Borrower’s Market

Things To Keep In Mind:

  • It is currently easier to get loans from lenders
  • Loans that had negative amortization are gone
  • The number of unconventional loans has increased since 2018

Fall To Winter Fix Ups

October 18th, 2019

Make Sure Your Home Is Ready For The Winter!

 

With winter around the corner you need to check up on your home! Getting your HVAC serviced is more important than you may think, and here’s why.

  1. Higher Efficiency: Low efficiency makes your system work harder causing it to shorten its life and raise your monthly bill.
  2. Less Problems: With you system working all year round some of the parts can start to break, belts can snap, and some areas might need lubricant. When you get your HVAC serviced, they’ll look and make sure that every part of your system is working the way it’s supposed to.
  3. Better Air Quality: With hot and humid summers, coils and ductwork can have some mold growth on it. Having a technician look at your HVAC is the correct way to make sure that there is no mold growing in your system. Dust can also accumulate and spread through your house.

Bottom Line:

Getting your HVAC serviced gives you higher efficiency, less problems, and better air quality.

Mortgage Process

October 14th, 2019

Your Go-To Guide:


Bottom Line:

  • Once you have done all your research and have talked to professionals, the process is stress free!
  • If you have any questions about being a home owner don’t be afraid to reach out to us at 651-777-3434

New Listing!

October 9th, 2019

Absolutely adorable update rambler in Roseville schools! Quiet street, tucked away but with easy access to highways and both Minneapolis and St. Paul.

Contact The Smith Team at 651-777-3434 today if you believe this is your forever home!