MN home values based on a selling environment supplied with 3.7% unemployment and 100% financing 500ish credit score programs
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MN home values based on a selling environment supplied with 3.7% unemployment and 100% financing 500ish credit score programs

If you are thinking of selling your home at the the top of the market and wondering what the market will be like years from now let me get you to think about this a little.

You would agree that you can sell your home for more when there is a high demand of buyers, and when I say buyers I mean pre-approved buyers who banks will lend to. Not just seller financing, cash buyers or large down payments on contract for deeds.

So let’s talk about a large supply of home buyers in Minnesota based not just on how many may want to buy at the right price, but how many can actually get financing with a bank.

Right now nationally we have a 3.7% unemployment rate what do you think that will be in the future? I know near the recession it got up near 10% unemployment rate, that’s a far smaller buyer pool.

Do you think that rate is going to be the same or lower in the next few years. It’s already at about a 50 year low.

How about this loose lending, will we see lending this loose in a few years? Not of lenders tighten up, raise rates a couple years from now and ask for higher credit scores and more of a down payment.

As a home buyer and a home seller you both have it pretty easy to make a home sale happen. I’ve seen 475 credit score 100% VA loans happen and 550 credit score 100% USDA loans exist in select areas.

As a home buyer or home seller in Minnesota do you think we will see it that easy 3 years from now?

I wouldn’t count on it. 600+ score or 5% minimum down would eliminate much of who I’ve seen.

Inflation with rents could happen locking in on super low fixed interest rates could be a smart move.

I think you are seeing a very rare environment to make residential lending easy and when there is higher unemployment and 600+ score with 5% down required in the future to factor in the lenders risk you can’t measure how much smaller the buyers market is and how that affects your home value when selling.

Learn more about the two 100% home buyer programs here

Fb.me/minnesotaVA

https://m.facebook.com/Minnesota-USDA-Home-Loan-Program-101197184607259/

Thanks,

Ron

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