Market Update Post-Election, What’s Next for Real Estate? 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 […]
Buying Tip Large storm over your new home? What are my rights? If a storm rolls through while under contract for a home, it’s important to make sure there is no damage to the house before closing. If damage does occur, it is typically the responsibility of the seller to bring the house back into the same condition it was at the time you wrote the offer. […]
Market Update Could we see our first rate cut? September’s Update It looks like we may soon see our first rate cut from the Federal Reserve since 2020. In an effort to combat inflation, the Fed has been steadily raising the federal funds rate, which caused mortgage interest rates to rise as well. We’ve seen mortgage rates climb from the high 2% range all the way […]
Buying Tip Low appraisal? Now what? If you are financing the home you buy, the bank will order an appraisal of the property to make sure they are not lending more money on the property than what it is worth. If your appraisal comes back for less than the purchase price, here are some steps you can take: – Re-negotiate the […]
Selling Tip Worried about a home inspection? As part of the selling process, a buyer often requests to do a home inspection. Here are some tips to make a home inspection go smoothly: Clean and Declutter – Make sure all areas, including the basement and attic, are accessible. Provide Access – Ensure that keys to any locked areas are available. Check Utilities […]
Selling Tip Navigating the inspection period Once you have an accepted offer, the inspection period starts. The length of the inspection period is negotiated as part of the offer. The inspection period typically begins immediately after the offer is accepted. We always recommend hiring a professional inspector to go through the home. They will do a comprehensive inspection looking for any […]
First Time Home Buying The Rights of a Homebuyer As a new homebuyer, it’s important to be aware of your rights. There are federal and state laws in place that protect homebuyers from unfair treatment and misleading information when applying for a loan.  The following information is from The office of Minnesota Attorney General Keith Ellison, click here to visit the source.   Equal […]
Selling Tip To do, or not to do, the project As you prepare to sell your home, you might be wondering whether taking on certain projects could increase its value and appeal to potential buyers. Here are a few considerations: Curb Appeal – Simple landscaping and a fresh coat of paint can make a great first impression. Minor Repairs – Fixing any obvious issues, like […]
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Selling Tip Multiple Offers? How to get yours to stand out In some areas, homes are selling quickly with multiple people submitting offers. Here are a few ideas on how you can make your offer stand out: – Offer more than the competition – Use an escalation clause stating you will beat any offer by a certain dollar amount up to a set limit – Communicate […]
Selling Tip Putting on the Perfect Showing As you prepare for potential buyers to visit, here are a few tips to ensure your home makes the best impression during showings: Clean and Tidy – Ensure your home is spotless and clutter-free. Light and Bright – Open curtains and turn on all lights to create a welcoming atmosphere. Neutralize – Remove personal items […]
Buying Tip What you Need to Submit an Offer Do you see a home that you would like to submit an offer on? Here is what you need to submit an offer: – Purchase agreement – A pre-approval letter or proof of funds – Earnest money deposit – Down-payment – A list of terms including the price Part of our job is writing and […]
Understanding Real Estate Vocabulary What is Encumbrance: Understanding Real Estate Vocabulary Encumbrance is a claim on a property. This could take form of a mortgage, an easement (right to the use of/access to land owned by another), or a lien (a claim to the property for payment of a debt). 
Understanding Real Estate Vocabulary What is a Short-Sale: Understanding Real Estate Vocabulary This is a transaction where the lender(s) agree to accept less money for the sale of the home than is still owed by the homeowner on the mortgage. Though a short-sale may be better than a foreclosure for both parties, the homeowner will still experience damage to their credit score and walk away without making […]
Understanding Real Estate Vocabulary What is a Contract-for-Deed: Understanding Real Estate Vocabulary This is a special type of real estate contract where the seller of the home acts as the loan lender too, providing funds for the buyer to purchase the property at the agreed price and repay it in installments. This can be a more common financing option for property transactions between family members and friends. 
Understanding Real Estate Vocabulary What is Underwriting: Understanding Real Estate Vocabulary This is the process that involves evaluating the property, the borrowers credit, and their ability to pay the mortgage. Simply put, it is the process used to determine loan eligibility and approval.   Underwriting guidelines vary loan program to loan program. The borrow and property will need to meet certain guidelines that go along with […]
Buying Tip Setting your house up for success When getting ready to put your property on the market, It’s important that we are set up for success. Here is a story about how we took a house with some challenges and made sure its shortcomings didn’t derail a possible sale. A short time ago, we took on a listing with a very odd […]
Buying Tip Maximizing your Sales Price As you prepare to sell your home, I wanted to share some key strategies that can help you maximize your sales price. Selling a property is a significant undertaking, and getting the best possible price requires careful planning and execution. Here are some effective tips to ensure you achieve the highest return on your investment: […]
Market Update Upcoming Changes to the Real Estate Industry: NAR Settlement Update Starting on August 17th, new practices resulting from the National Association of Realtors (NAR) settlement will take effect. Here are the two main changes that you should be aware of: – A buyer’s agent’s compensation for selling a house listed on the Multiple Listing Service (MLS) will no longer be advertised on the MLS, the […]
Buying Tip 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 […]
Buying Tip 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 […]