How does anyone possibly buy a house in THIS crazy market?

A single family home is one of the keys to building financial security

How does anyone possibly buy a home in this crazy market?

It’s true. These days of low home inventory are challenging for buyers. In the Twin Cities, 72% fewer homes are available to buy now than the average number before COVID. To put that in perspective: At any given time between 2005 and 2019 (MLS Northstar Data), roughly 18,000 homes were for sale. Today? Only 5,000 homes are listed in the entire Twin Cities.

That said, over the past month, I’ve helped three clients, some with little cash, find homes locally. How did we do it?

1.) We expanded our location expectations, adding second-tier suburbs to our search area.
2.) We found more cash to put down or offer as appraisal gap funding.
3.) We knew which homes could skip an inspection when we made an offer.
4.) We expanded our expectations on property conditions.

Do these steps mean my clients are paying too much? Have I put them in a financially risky spot? Or are they settling for a home they don’t love? No, on all three counts.

As an experienced real estate agent, I helped ensure that truly comparable properties have sold at the same value they were offering. I offered my clients home construction knowledge, understanding which homes were appropriate for inspection waivers and which were not. I connected them to lending resources to maximize their financing equations. And, most of all, I guided them throughout the entire process with care and diligence.

The result? These three clients love their new homes and each is secure in knowing that they’ll likely be building equity within two years.

If you’re in the market for a new home or looking to sell your current home, please reach out.