Election years often bring a bit of uncertainty to the real estate market. Many buyers and sellers tend to take a “wait and see” approach, watching for potential changes before making major decisions. Now that the election is behind us, attention is shifting to the factors that will shape the market moving forward—most notably, interest […]
The truth about your house’s value
It may seem the value of your house can be determined by a totally objective approach of comparing it with similar homes that have sold. To be clear, to a certain extent, it is. However, when it comes to selling your house for its determined worth, it’s not as simple as just putting a sign […]
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The DeLacey Homes Promise
We work with all kinds of buyers and sellers and give each and every one an exceptional level of service. We call this the DeLacey Homes Promise. The DeLacey Homes Promise is: Expert Guidance – Helping you make good real-estate-related decisions. Responsive – Responding quickly to your questions, comments, or concerns. Proactive – Steering around […]
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The Future of Affordability
In this month’s update, I want to address a topic that has been frequently discussed over the last couple of years: affordability. Home prices have been rising year over year for quite some time. This, combined with rising interest rates, has created an affordability issue for many homebuyers. Cities have attempted to combat this issue, […]
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Along with the 3 Ls, should we be talking about the 3 Is?
When talking about the value of real estate, It’s often said the 3 Ls are the largest factors determining value. The 3 Ls are location, location, location. This emphasizes the huge role location plays in the value of any piece of real estate. Being near a major city, on a lake, or close to popular […]
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NAR Settlement
The biggest headline in real estate broke in March. A settlement by the National Association of Realtors to settle several commission lawsuits was announced. This news was years in the making as several lawsuits passed through the court system. The largest change resulting from the settlement is that a buyer’s broker compensation will no longer […]
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Rumors of Rate Cuts
There’s been a lot of hype around rumored interest rate cuts over the last couple of months. Late last year, many news outlets were predicting up to 6 rate cuts by the federal reserve in 2024. As inflation continues to come down, many have been optimistic that the federal reserve would start to ease up […]
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2023 by the numbers
The real estate market has experienced a lot of change over the last two years. Now that 2023 is behind us, here is a recap of what we saw in the twin cities real estate market: New Listings: Down 12.4% Closed Sales: Down 17.6% Median Days on Market: Up 28.6% to 18 Days Median Sales […]
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What is Arbitration: Understanding Real Estate Vocabulary
Simply put, arbitration is the process that has to do with the arbitrator. The arbitrator is a neutral and fair third party person with whom the buyer and seller agree in advance to abide by. When a dispute occurs that the two parties cannot resolve on their own, the arbitrator makes the decision. Arbitration is […]
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What are Closing Costs: Understanding Real Estate Vocabulary
Closing in itself is the completion of a financial transaction, in this case, buying a home. Closing costs are different because it refers more specifically to upfront fees that are charged in connection with the closing the mortgage loan. These are fees paid by the buyer, but in few cases the seller may also have […]
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