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
Which painful emotions
are you feeling right now?
-walls caving in
Do you identify with any of
these painful problems below
that are attached to your
specific Minnesota home situation?
-behind on payments
-death in family
-rising medical bills
-making two home payments
-house needs $10,000s fixup
-behind property taxes
-behind on home association dues
-equity trapped in house
-short sale no equity
-sell on contract for deed
-sell on rent to own
-denied for cash out refinance
-refi appraisal or LTV cut
-bank denied your loan
-bank denied self-employed loan
-need refi for lower monthly payment
-bad credit but large settlement
-bad credit $10,000+ rent to own
-bad credit 10%+ down for CD
-700+ credit score but not cash buyer
-downsize & cut monthly bills
-move to assisted or nursing home
-pay cash for $60k-80k mobile home
-sell due to fire damage
-sell due to water damage
-sell due to mold
-sell due to biohazard
-accidental death in house
-student debt collections
-vehicle in collections
-no credit no banks but cash
-no credit -cash $50k+ mobile home
-religion won’t allow to pay interest
Are any of the above painful
emotions affecting your daily
mental and emotional state,
ruining your quality of life?
Then reach out to me today for
a solution for peace of mind and relief
If you have specific questions
on qualifying programs for
buying or selling a Minnesota home today
Then the next step is to give me
your phone # right now
Choose between messenger or text
‘Text Me’ Ron (612) 434-5606