First-time homebuyers who have put their searches on hold are undoubtedly pleased to hear that increasing numbers of U.S. homes are going up for sale—an encouraging sign that could bring some St. Cloud buyers back into the hunt. The gains in inventory aren’t the only reasons buyers are revisiting the St. Cloud listings:

·         The consensus has it that mortgage interest rates are most likely to continue to rise, rewarding those who lock in home loans sooner rather than later.  

·         As long as inflation levels continue to rise, home prices are expected to do the same. Per realtor.com, “The Fed is now hellbent on taming prices by hiking interest rates”—with a predictable effect on home loan offers.

·         This time of year traditionally sees a lull in competition—and fewer buyers make sellers more open to concessions. Springtime is usually when the mob arrives.

·         Although many otherwise-qualified first-timers have been sidelined by the onslaught of challenging financial factors, nimble buyers willing to compromise on fixer-uppers or properties located outside their first-choice neighborhoods may still become homeowners before the opportunity dwindles further.

If it seems as if those reasons are iffy, it’s another reflection of the ever-present fact that the future is always unknowable (in the short term, at least). There may be grounds to hope better deals will be possible in the future, but at present, few claim that prospect is anything like a certainty. The bottom line remains: if you can find a home you’d be delighted to own at a price that doesn’t dangerously stretch your budget, it’s worth seriously considering. The IRS’s April 15 reminder of the very real costs of not owning is only one of the reasons!

Call me to discuss the latest array of offerings currently present on the St. Cloud listings. You’ll be a more experienced shopper for having familiarized yourself with the changing St. Cloud market—and be better prepared to move decisively when the right opportunity appears!  

Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

Multiple Office Locations To Serve YOU!

Saint Cloud 320-259-4554

Princeton 320-983-3555

Sartell 320-259-4554

Little Falls 320-259-4554

Minneapolis 763-565-2000

Hutchinson 320-455-9127

Litchfield 320-298-1140

Premier Real Estate specializes in MANY areas around Central MN including Saint Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, Saint Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, Saint Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center, Brainerd, Nisswa, Aitkin, Albany, Coon Rapids, Sauk Rapids and more!