Brainerd Lakes Real Estate Podcast with Chad Schwendeman

Why the Winter Months Are the Best Time to Sell

chad@upnorthemail.com (Chad Schwendeman) — Thu, 16 Jan 2020 13:58:00 -0800

Contrary to popular belief, the wintertime is a
great time to sell your home.

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Many sellers think that spring and summer are the best times to sell their homes, but this a false narrative.

In many cases, we see a lot of activity during the winter months, and the quality of the buyer is much higher than during the spring and summer. We’ve found that the buyers who are looking in December, January, and February are very serious because they need to buy a home. So by selling in the winter, you might have fewer showings, but the quality of those showings will increase dramatically.

“

The buyers who are looking in
December, January, and February
are very serious because
they need to buy a home.

”

I just ran the numbers: From December 1, 2019, to January 8, 2020, 115 properties sold or went under contract in Crowing, Cass, Aiken, and Morrison counties—all during the supposedly ‘slowest time in real estate.’

We can definitely sell homes during the winter months. If you’re thinking of listing your home, don’t hesitate to reach out to us. We can even give you a “Buy It Now” price, where we’ll buy your home as is for cash and you get to pick the closing date! In the meantime, have a wonderful 2020!

Is the Winter Market a Good Time to Sell Your Home?

chad@upnorthemail.com (Chad Schwendeman) — Thu, 2 Jan 2020 13:41:00 -0800

What are the benefits of listing your home on
the market during the winter months?

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Many times, sellers think it’s in their best interest to wait to list their homes until the spring market. In my opinion, this is a flawed approach.

We find that during the winter months, there’s typically less inventory for buyers to choose from. The buyers that are out looking for homes during this season tend to be more serious. Winter homebuyers who brave the elements to view homes aren’t usually tire-kickers; they need to buy a home—and fast.

In the wintertime, the number of showings a seller is liable to have for their listing will likely decrease, but the quality of those showings increases. Winter buyers might have a lease that’s near its end, and they’ve decided to make a purchase; they might also have sold their home and are looking to move up or they may have been relocated to the area for a job.

“

Take advantage of the low
inventory and the serious buyers that
our winter market has to offer.

”

So if you’re thinking of selling your home, don’t wait until spring—take advantage of the low inventory and the serious buyers that our winter market has to offer.

To get a free market analysis of your home, reach out to me directly. I’d be happy to advise you on your next home sale. Until then, happy holidays!

Do You Need a Pie This Thanksgiving?

chad@upnorthemail.com (Chad Schwendeman) — Thu, 7 Nov 2019 11:06:00 -0800

This is our way of saying "Thank You" for your business and referrals!

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You can feel it in the weather: Temperatures are dropping, the leaves are changing, and Thanksgiving is right around the corner. As a special thank you to all of our current and past clients, we're giving out free pumpkin pies! Click here to RSVP for your pie today.

Stop by our Baxter office located at 7153 Forthun Road, Baxter, MN (Just south of Home Depot) on Monday, November 25 or Tuesday, November 26 from 4:00 p.m. to 7:00 p.m. to pick up your free pumpkin pie. You can also enjoy hot chocolate, pie, and coffee with us.

From everyone at the Chad Schwendeman Real Estate Group, we want to wish you a Happy Thanksgiving!

Do You Rent Out Your Home in Crow Wing County?

chad@upnorthemail.com (Chad Schwendeman) — Tue, 8 Oct 2019 13:08:00 -0700

If you rent your home out through Airbnb or VRBO, you need to know
what is being proposed in Crow Wing County.

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Do you or someone you know currently rent your home out as an Airbnb or VRBO in Crow Wing County? If your answer is yes, you want to pay particular attention to this topic.

What is being proposed is going to double and in some cases triple people's real estate taxes in Crow Wing County. The county commissioners are proposing that if you currently use your home or cabin as a VRBO or Airbnb, you’ll have to file a permit with the county. This permit will cost anywhere between $400 and $600. They’ll call it a licensing fee.

Once you pay that licensing fee, your taxes are going from residential or seasonal to commercial taxes. In some cases, this means taxes will triple. I think this is going to have an appalling impact on real estate in the Brainerd Lakes area. Our largest cash commodity here is tourism; we don’t have manufacturing or a lot of commercial companies. They estimate between 600 and 2,000 properties are currently using VRBO in Crow Wing County. What happens to those that are no longer allowed to rent out their property? They might leave the area.

“

In some cases, this means
taxes will triple.

”

During our busy summer months, those potential tourists coming in will not stay in the Brainerd Lakes area. This will not only impact real estate, but grocery stores, restaurants, movie theaters, and so on. This could take 4,000 people per week out of our economy, and it will impact many businesses. I encourage you to reach out to your Crow Wing County commissioners. Whether you’re in favor of this or not, please let them know.

If this proposal passes, it’s going to have some long-lasting impacts on our marketplace. Businesses may close due to this. All these additional people coming in will have no place to stay in July and August, our busiest tourism time. This is something to take seriously.

Voice your opinion, and please call me with any questions. I look forward to hearing from you.

You’re Invited to Our 4th Annual Oktoberfest

chad@upnorthemail.com (Chad Schwendeman) — Fri, 20 Sep 2019 12:53:00 -0700

You are cordially invited to our 4th Annual Oktoberfest!

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Friends and Clients —

You are cordially invited to our 4th Annual Oktoberfest. This is our way of saying "Thank You" to our past clients, current clients, friends and family for all of your support, referrals, and business over the years.

Enjoy an evening of free beer (Jack Pine Brewery), brats, burgers and other treats (from Prairie Bay), live music, and even a bouncy house for the kids.

This year will have a local favorite band, The District, playing from 5:00 pm to 8:00 pm

When: Saturday, October 5th from 5:00 pm to 8:00 pm

Where: EXIT Realty Office
7153 Forthun Rd
Baxter, MN 56425
(Just south of Home Depot)

RSVP here or call (218) 454-0966.

We hope to see you soon!

4 Ways to Pay Your Mortgage Down Sooner

chad@upnorthemail.com (Chad Schwendeman) — Fri, 16 Aug 2019 13:58:00 -0700

Being able to pay off your mortgage in under 30 years
is not only possible, but it’s also very easy to do.

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New data shows that nearly 40% of all homes in the U.S. have no mortgages whatsoever. The highest percentage is 54% in West Virginia. Maryland and D.C. are on the other end of the spectrum at just 27% and 24%, respectively.

Many believe that a real estate dream means buying a home and staying in it just long enough to have some equity and move up to a bigger or better home. If you’ve considered the idea of a forever home and want to be among the homeowners who are living mortgage-free, here are four tips to help you pay down that balance faster:

1. Switch to bi-weekly payments. Let’s use some real-life scenarios here: Say you have a mortgage of $200,000. With a 5% interest rate on a 30-year term, bi-weekly payments will actually save you $34,328 in interest and would shorten the length of your mortgage by five years. That’s pretty incredible for just one extra payment per year.

2. Make additional principal payments. Obviously, the first part of your mortgage will go toward interest. Making an additional payment to pay down the principal amount of the loan is going to help shorten it. On a $120,000 loan at 4.5% for 30 years, that would give you an extra $608 per month. Just an additional $25 payment per month on the principal would save you over $9,000 in interest.

“

If you can afford a higher
payment, shortening your term from
20 to 15 years is smart.

”

3. Switch to a 15-year term. If you can afford the higher payment, switching the term of your loan can save you a ton. On a $250,000 mortgage with a 4.5% rate, it would cost you $429,674 in principal and interest payments. The total interest is $179,674. With the same loan over 15 years, you would only pay $82,860 in interest. That’s about 46% of the interest on the 30-year loan. Typically, the interest rate on the 15-year term will be lower. Right now, you can get one at 3.125% at Wells Fargo.

4. Make small sacrifices. This could be as easy as skipping Starbucks or a dinner out on the town. The average American spends $3 a day on coffee. That’s another $90 that you could be committing to your mortgage each month, which would reduce your term by over four years while saving you over $25,000.

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

These 5 Tips Will Help You Get Started in Real Estate Investment

chad@upnorthemail.com (Chad Schwendeman) — Mon, 1 Jul 2019 11:46:00 -0700

If you’re looking to get into real estate investing,
I have five tips that will help you.

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Real estate investing is hotter than ever, and it’s no wonder why.

Mortgage rates are low, home prices continue to grow, and demand for rentals is strong.

But if you're interested in investing in real estate, where do you start? And what do you need to know? Here are five crucial tips I've gathered from successful real estate investors to help you out:

1. Don't stick to your own backyard

Many fledgling real estate investors limit their search to neighborhoods they know well. This might cut into your potential for profit. The best deals might be a bit further away, and emerging neighborhoods might offer better growth potential and tax incentives.

2. Use the 1% rule

A good rule of thumb for real estate investing is to look for properties that will offer a monthly return that is greater than 1% of the sales price. In other words, if a home costs $100,000, you should only invest in it if you expect to get at least $1,000 a month in rent.

3. Don't over-rehab

An investment property doesn't have to look like a Pinterest photo shoot. Instead of trying to convert an investment into your dream home, go with middle-of-the-road fixtures—and save yourself both time and money.

“

Now, these five tips are valuable—
but they are only a start.

”

4. Look to single-family rentals

Single-family homes tend to consistently appreciate. They are also most likely to attract good tenants, and they are something you have direct experience with—and can evaluate personally.

5. Understand the tax benefits

It pays to know the many possible tax benefits associated with real estate investing. These include deductions for depreciation, mortgage interest deductions, and maintenance, as well as the benefits that come from investing through qualified plans like self-directed IRA accounts.

Now, these five tips are valuable—but they are only a start.

If you're seriously considering real estate investing, I'd advise you to first take a look at some of the great homes available around the Brainerd Lakes area. And if this gets your investment appetite going, give me a call at (218) 831-4663. There are two reasons why:

First, I can give you my impressions about which types of homes (and in which neighborhoods) might make for a sensible first investment.

Second, I can also point you to other professionals I personally trust—mortgage brokers, tax advisors, contractors—who can help you make that first investment profitable with the minimal amount of fuss.

If you have any other real estate questions, feel free to reach out to me as well. I’d love to help you.

7 Tips to Help Your Home Sell Fast & For More

chad@upnorthemail.com (Chad Schwendeman) — Thu, 13 Jun 2019 13:47:00 -0700

Today I’ll lay out seven steps to take if you want your home to
sell quickly and for the most money possible in our market.

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Today I’ll share seven surefire ways to make sure that your home is ready for the summer selling season:

1. Assess your home’s condition. Look at your home through a buyer’s eyes: Is there worn carpet on the floor or chipped paint on the walls? Are there any burnt-out fixtures that need to be fixed or replaced? Buyers have a very critical eye, and you’ll want to address any of these easy-to-fix issues.

2. Get rid of oversized furniture. Oversized furniture can shrink the apparent size of a room, and we ultimately want the house to feel spacious. If you have too many pieces of furniture, overlarge furniture, and/or just a lot of clutter, rent a storage unit and put those items there. Less is more.

3. Remove clutter and depersonalize. Put away the trophies, family photos, and other such personal items. You want the buyers to be able to clearly imagine themselves living in your home, instead of making them feel like they’re kicking you out of your home.

4. Deep clean the home. This means you should take some time to thoroughly clean the bathrooms, tiles, windows, drapery, appliances, and such. Don’t forget about the outside of your home—power wash your siding and remember to clean out your gutters.

“

Following these seven steps will
ensure that your home stands out
in our market.

”

5. Work on curb appeal. Most buyers will drive by a home before they’ll set up an appointment to view the inside of it. With that in mind, really focus on the exterior of the home and consider what a buyer’s first impression of it would be. Rake the lawn and be sure to plant fresh flowers to enhance the curb appeal of your property.

6. Repaint using neutral colors. A fresh coat of paint will make your home feel years younger. If you’re going to take the time to repaint the house, be sure to use neutral colors like beige, off-white, light grays, and other soothing colors to really give your property a warm, inviting feel to your potential buyers.

7. Get professional photos taken. Around 96% of today’s buyers look for homes online, and if your home doesn’t show well online, they’ll just skip yours and go on to the next listing. Research and hire a professional who will come in and capture your home in its best light.

Following these seven steps will ensure that your home stands out in our market. If you’re interested in taking the next step to get your home sold quickly and for the most money possible, please don’t hesitate to reach out to us. We’d love to give you a free market analysis, show you step-by-step how we’ll advertise your home to buyers in the market, and we’ll even help you stage your home for the best results. I hope to hear from you soon!

Join Us for a Free Seminar on the Ins and Outs of Flipping

chad@upnorthemail.com (Chad Schwendeman) — Thu, 30 May 2019 10:48:00 -0700

You’re invited to come learn the ins and outs
of flipping at our free upcoming seminar.

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If you’ve ever wanted to learn more about successfully flipping homes in today’s market, you’re in luck. Today we’d like to invite you to our free upcoming seminar, which will teach you the ins and outs of this common real estate investing tactic. The event will take place on Tuesday, June 18, from 6:30 p.m. to 8:00 p.m. at the Country Inn and Suites in Baxter.

During this seminar, we’ll share how to find great investments and buy them for zero money down. We’ll also explain which renovations are worth making before you sell, as well as what you should look for in your next flip. This is going to be a great learning opportunity, so I hope to see you there.

If you’re interested in attending, please RSVP here. If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

Addressing the Class-Action Lawsuit Regarding Real Estate Commissions

chad@upnorthemail.com (Chad Schwendeman) — Thu, 16 May 2019 14:48:00 -0700

A massive class-action lawsuit has been filed against
the National Association of Realtors and other top brokerages.
Here’s what you need to know about the case.

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When it comes to a real estate transaction, the seller pays the commission for both agents. In many cases, the commission runs anywhere from 5% to 7% of the sale price, which is split between the two Realtors.

In a massive class-action lawsuit, the plaintiffs are suing the National Association of Realtors (NAR) and some of the top real estate brokerages in the country to contest this practice, saying that it’s unfair to have the seller pay the buyer’s commission. The lawsuit goes on to assert that this behavior is illegal and has harmed sellers. As a result, plaintiffs are asking for an incredible $54 billion in damages.

Now, the NAR feels that this lawsuit is meritless, but the law firms representing the plaintiffs have awarded their clients tens of billions of dollars in some of the largest class-action lawsuits this country has ever seen, such as those against Toyota, Apple, and other big-name companies.

So will this lawsuit be successful? I’m not an attorney, so I can’t speak on the merits of the case—only time will tell. Regardless of the outcome, it will take years for the lawsuit to sort itself out in the courts, and you can expect an appeal eventually.

“

Plaintiffs are suing the National Association of Realtors (NAR)
and some of the top real estate brokerages in the country for an incredible $54 billion in damages.

”

The lawsuit has, however, stirred an even bigger question: Is there a value for real estate agents in today’s marketplace?

Of course, I say yes, but you can speak to my current and past clients to hear about the extreme value we provide by helping them buy and/or sell their home. Throughout all our real estate transactions, we treat our clients like partners.

So if you’re thinking of buying or selling a home, feel free to give us a call or send us an email. We would love to partner with you and help you obtain your real estate goals.

Does Zoning Reform Work?

chad@upnorthemail.com (Chad Schwendeman) — Tue, 23 Apr 2019 09:32:00 -0700

One of the only things that politicians can agree on is that
we need housing reform. Here’s how they plan to tackle the issue.

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There's a surprising political issue that both parties can agree on right now.

This issue is reducing the cost of housing.

Even more surprisingly, politicians on both the left and right actually agree about how to attack this issue.

Their main answer is to reform zoning laws. This means eliminating rules limiting the density of housing and requiring mandatory parking.

The argument is that such a regulation restricts the supply of new homes, thereby increasing prices and reducing affordability.

So what does this looming reform mean for you?

Well, if zoning reform is implemented and has the effect that politicians hope, then it might make it more affordable to buy a home. However, there are a couple of questions hanging over this outcome.

“

It’s likely to take a while
to achieve any changes.

”

First of all, zoning regulation happens on the local, not federal, level. This means that reforms on the federal level can only impact local zoning indirectly—and might not create any change at all.

Second, zoning reform might not actually have the intended consequences.

For example, scientists from MIT looked at zoning reform in Chicago. They concluded that, at least in the first five years, zoning reform had no effect on housing supply. Even worse, zoning reform actually led to an increase in housing prices.

In short, zoning reform seems to be a valiant effort to make housing more affordable, but it's likely to take a while to achieve any changes. And those changes might not be what politicians are hoping for.

In other words, if you are thinking of entering the real estate market, whether to buy or sell, then don't hold your breath for the current housing reform.

Instead, I advise you to act now. You see, it’s a particularly favorable moment for real estate.

Right now, buyers can benefit from an unexpected drop in mortgage rates, and sellers can benefit from ongoing strong demand around the Brainerd Lakes area.

If you have any questions for us or if you’re thinking about buying or selling a home in the near future, don’t hesitate to give us a call or send us an email today. We look forward to hearing from you soon.

Our Workshop Will Help You Make the Most Out of Your Home Sale

chad@upnorthemail.com (Chad Schwendeman) — Tue, 9 Apr 2019 13:15:00 -0700

Make the most out of your home sale by joining our workshop.
Here’s how.

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We’re excited to announce our third and final sellers’ workshop! Join us at Country Inn & Suites on Tuesday, April 16 at 6:30 p.m.

We’ll show you how to put your equity back into your pocket, talk about great investments that guarantee returns, and uncover what buyers are looking for in today’s market. If you want to give your home the best possible chance of selling for top dollar, you’ll certainly want to make it to our workshop.

Make sure to RSVP here! In the meantime, we look forward to seeing you there.

Our Client Appreciation Event Is Days Away

chad@upnorthemail.com (Chad Schwendeman) — Fri, 29 Mar 2019 10:43:00 -0700

On April 6, the world’s best juggler, Ivan Pecel, will be
joining us for an incredible evening of entertainment.

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I’m certainly not a juggler myself, but I am excited to bring one to you at our upcoming client appreciation party. On Saturday, April 6 at Tornstrom Auditorium at 7 p.m., the world’s best juggler, Ivan Pecel, will join us for an unforgettable show. He’s performed on the Tonight Show, America’s Got Talent, and more over his long and successful career, and we’re super excited to welcome him to Brainerd. We want all of you to join us for this free event. Just make sure you RSVP here!

Join Us for Our Home Sellers' Workshop

chad@upnorthemail.com (Chad Schwendeman) — Fri, 8 Mar 2019 09:08:00 -0800

Learn the best tips and tricks for maximizing your
home sale at our upcoming sellers’ seminar.

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Due to the overwhelming success of our February sellers’ workshop, we’re hosting another one—and you’re invited! At this great event, you’ll learn how to maximize the sale of your home and put more equity into your pocket.

We’ll also talk about staging, returns on investment, the best times to list, how to best market your home, and much more.

“

You’ll learn how to maximize
the sale of your home and put
more equity into your pocket.

”

Get an inside look at the best selling practices at 6:30 p.m on Tuesday, March 19, at Country Inn and Suites in Baxter, Minnesota. Click here to RSVP.

Until then, we look forward to seeing you there!

Home Sales Fell Sharply This Past December—But Why?

chad@upnorthemail.com (Chad Schwendeman) — Thu, 28 Feb 2019 12:08:00 -0800

Home sales have dropped significantly of late.
Here’s what I think is behind the trend.

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This past December, home sales plunged across the country. In fact, they are down a staggering 6.4%. However, it's not clear why.

The economy is doing well. During that same December, 312,000 jobs were created across the country and age gains are accelerating while labor-force participation is increasing. Mortgage rates, while higher than a few years ago, are still at historic lows.

When looking at the economy and mortgage rates together, the current housing market is more favorable than it was back in the year 2000—yet sales are lower than they were back then.

It's unlikely that one-off news events are to blame. For example, recent stock market volatility and the government shutdown both occurred after the drop in home sales was already underway. So what could possibly be going on?

My suspicion is that it's a reflection of declining consumer confidence. In some areas of the country, home prices, which have increased for years, are finally falling. Naturally, this affects potential buyers negatively. Nobody wants to buy a home and have it decrease in value immediately.

“

My suspicion is that it’s a reflection of declining consumer confidence.

”

These nationwide trends have yet to hit the Baxter market. Home prices are still trending upward and demand remains high.

If you were to list your home now, it’s likely you'd be able to sell quickly and for top dollar. In fact, now might be a particularly favorable moment, considering the significant drop in mortgage rates in the past two months.

The thing is, this situation won't last forever. Eventually, the same kinds of trends we are seeing across the country will catch up with us around Baxter as well.

That's why it makes sense to act now.

If you have any questions for me, whether you are looking to buy or sell, give me a call or send me an email today. I'm here to help!

Learn Insider Secrets on How to Sell For Top Dollar

chad@upnorthemail.com (Chad Schwendeman) — Mon, 4 Feb 2019 07:54:00 -0800

We hope you’ll join us for our upcoming Sellers’ Workshop!

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Our 1st Annual Sellers’ Workshop is just around the corner, and you’re invited. At this great event, we’re going to pull back the curtain and share some insider tips on how to sell your home for top dollar in today’s market. The workshop will take place on Thursday, February 7 from 6:30 p.m. to 7:15 p.m. at the Country Inn and Suites in Baxter. You can click here to RSVP. We look forward to seeing you there!

What Does the Direction of Home Prices Mean for You?

chad@upnorthemail.com (Chad Schwendeman) — Tue, 22 Jan 2019 13:18:00 -0800

The rate of appreciation for home prices has been slowing, and today we’d like to shed some light on why this is happening and what it means.

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We seem to be entering a buyer's market.

I'll explain what this means for you in just a second.

But first, let me give you a quick rundown of current real estate conditions:

1. Prices at all-time highs

For the past several years, home prices grew at twice the rate of inflation and faster than incomes. Not surprisingly, we are now at record price levels. However, price growth has definitely been slowing over the past several months. And we're even seeing some softness in the market, with an increasing number of price cuts.

2. Mortgage rates rising

The current 30-year fixed mortgage rate stands at 4.63%. That's almost a 1% increase over just a year ago and the highest level we've seen since 2011.

3. Dropping affordability and demand

Combined with current high prices, the rise in mortgage rates is causing a decrease in affordability. Earlier in the year, affordability was estimated to be at a 10-year low. Not surprisingly, this is having an effect on demand, with mortgage applications down 16% over last year.

“

Home price growth is slowing, and home prices might eventually start to decrease.

”

Like I said at the start, this seems to be part of a fundamental shift in the market. Home price growth is slowing, and home prices might eventually start to decrease. Mortgage rates are expected to continue to grow. And if that happens, we will slowly but surely enter a market where buyers, not sellers, have the final say.

So what does this mean for you?

Well, if you're looking to sell, it means the time to act is now. Around Brainerd, I still see a lot of demand for homes. However, over the next several months, you’ll likely see an increase in inventory as the snowbirds come back and put their homes on the market. It’s also likely that national trends will catch up with us here as well. The good news is, you have an opportunity to act before this happens.

If you decide to list your home this winter, you might benefit from the current high prices as well as the solid demand around Brainerd. In other words, you could sell quickly and for top value.

If you’re considering selling your home, don’t hesitate to reach out to us so we can give you a free home evaluation. If you are ready to get the process rolling immediately, give me a call. I'm here to help.

Interest Rates and What They Mean for You

chad@upnorthemail.com (Chad Schwendeman) — Fri, 14 Dec 2018 13:10:00 -0800

Interest rates are on the rise. What does this mean for you?

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Trouble is brewing, and mortgage rates are behind it. You see, the average 30-year fixed mortgage rate recently rose to 4.94%. Just for reference, that's the highest level we’ve seen in nearly eight years.

It's true that we've had some stock market volatility since then, and this has tempered the mortgage rate a bit.

That's because volatility in the stock market causes investors to look for other opportunities, which tends to push interest rates, including the mortgage rate, downward.

However, in the near to mid term, I believe that mortgage rates will stay at these higher levels or even rise. This situation is certainly having an effect on the real estate market. For example, mortgage applications are 16% lower than they were a year ago.

And mortgage applications to buy a home, rather than refinance, are at the lowest level in two years. In other words, it took a while, but rising mortgage rates are finally taking a toll on homebuyers.

Now, to be fair, this isn't just about the mortgage rate, it’s about the rise in home prices as well.

“

This isn't just about the
mortgage rate, it’s about the
rise in home prices as well.

”

When you combine those two things, you get lower housing affordability. In fact, earlier this year, housing affordability reached a 10-year low and home prices and mortgage rates have only risen since.

So what does this mean for you? Well, if you're thinking of selling your home, this means that you should start the process as quickly as possible.

Demand for homes still remains high, and there's a good chance you could achieve a top price for your home and sell quickly.

On the other hand, if you're looking to buy, then the market might finally become more favorable to you, as more homes have become available than was true in the recent past.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Enjoy a Free Pumpkin Pie This Thanksgiving

chad@upnorthemail.com (Chad Schwendeman) — Fri, 2 Nov 2018 11:21:00 -0700

How can you score a free pie this holiday? Find out here.

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The Chad Schwendeman Real Estate Group's Pie Day Giveaway will take place on November 19 and 20 from 4:00 p.m. to 7:00 p.m. You can stop by our office and pick up a pumpkin pie at no cost to you. Simply register online here. While you take care of the turkey and stuffing, we’ll be taking care of dessert.

Join Us at Our 3rd Annual Octoberfest

chad@upnorthemail.com (Chad Schwendeman) — Tue, 25 Sep 2018 09:51:00 -0700

Our third annual Octoberfest is coming up soon
and we hope to see you there.

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Our third annual Octoberfest celebration is just around the corner, and we hope to see you there. Join us on Saturday, October 6, from 5 PM to 8 PM at our Baxter office (7153 Forthun Road).

The event will be catered with food from Prairie Bay and beer from Jack Pine Brewing, and there will be a live musical performance by The District. All in all, it’s sure to be a great time.

This is just our way of saying thank you to our friends, family, and clients for all of your business, referrals, and support.

Best of all, this event is totally free. However, we do need a headcount in advance so please RSVP here to save your place.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to seeing you soon.

Why Investing in a Starter Home May or May Not Be a Good Idea

chad@upnorthemail.com (Chad Schwendeman) — Mon, 20 Aug 2018 10:46:00 -0700

Investing in a starter home isn’t the right move for every homebuyer.
However, it may be an advantageous move for some.

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Should you invest in a starter home? Or is it a better idea to wait and save up for your "forever" home?

First off, let's make sure we are talking about the same thing. Economists often define a "starter home" as being in the lower third of a market's valuation (as opposed to trade-up homes and luxury homes). For many homeowners, however, the decision to purchase a starter home is not about price. Instead, it is about how long they plan to stay there.

This is where the dilemma really lies. Buying and selling a home, as well as moving in and out, both carry specific expenses. Also, since the bulk of the mortgage payments for those first years go to interest, you are unlikely to build up much equity if you only own the home for a short while.

In fact, according to one estimate, the break-even point for a starter home is somewhere between five to seven years. In other words, if you're planning to stay in the home for just a few years, it might not make sense to buy it in the first place.

Am I telling you not to buy a starter home? No. There are definitely situations in which buying a starter home makes perfect sense.

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A starter home can help you save money and build equity.

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For example, if you’re planning on staying put for five or more years, a starter home will save you money on rent and help you build up equity. Purchasing a starter home also makes sense if the home has the potential to become your forever home with the right renovations or additions.

If you are open to keeping the home and renting it out later in case plans change, buying a starter home may be a wise choice, as well.

Ultimately, this will be a decision that is based on your own unique preferences and places.

If you weigh all of these factors in and do decide that a starter home makes sense for you then there's something important you must realize: The best time to buy a starter home is coming up soon. Fall is the season when starter home inventory peaks and listing prices drop, according to the real estate portal Trulia. This means you will have the most options, at the most affordable prices.

If you have questions about the current Baxter real estate market, including whether a starter home is right for your unique circumstances, give me a call at (218) 831-4663. I'm here to help.

Vote EXIT Lakes Realty Premier as Best Real Estate Company

chad@upnorthemail.com (Chad Schwendeman) — Mon, 6 Aug 2018 11:16:00 -0700

Vote for EXIT Lakes Realty Premier!

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The EXIT Lakes Realty Premier team and I were nominated by the Brainerd Dispatch as a candidate in their “Best of” contest. I just wanted to take a minute to encourage you to vote for us as the best real estate company in the Brainerd Lakes area. We have been working hard to bring you quality service for a long time and would appreciate your vote. You can follow this link to vote daily until August 21.

Why Now is a Great Time to Be a Real Estate Investor

chad@upnorthemail.com (Chad Schwendeman) — Fri, 29 Jun 2018 09:36:00 -0700

Do you know what a triple play is when it comes to real estate investing? We’re going over that and more today.

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We’re finally starting to see home prices rebound in the Brainerd Lakes area and the market has finally shifted into a seller’s market. Now, more than ever, is the ideal time for people to get involved in real estate investing.

There are three profit centers that real estate investors can take advantage of to make money:

1. Use change. This comes from fixing up a property and flipping it for a profit.

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When you put these three profit centers together, you get a triple play.

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2. Cash flow. You gain this from holding the property and accumulating passive rental income on a monthly basis.

3. Appreciation. This is from renting a home, fixing it up, and enjoying appreciation over time.

When you put these three profit centers together, you get a triple play. If you’re thinking about getting into real estate investing and you want to take advantage of this triple play, we would love to hear from you. Give us a call or send us an email and we can help you get started on the right path today.

Real Estate Remains Hot, Aside From the Luxury Market

chad@upnorthemail.com (Chad Schwendeman) — Tue, 12 Jun 2018 11:14:00 -0700

Current market conditions are favorable for certain buyers and sellers. Here are the latest details.

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The real estate market remains red-hot. In fact, Zillow estimates that homes sold more quickly in 2017 than ever before. 2018 seems on-pace to beat 2017. However, one segment of the real estate market seems to lag behind.

I’m talking about luxury homes.

Prices in the top 5% of the real estate market increased just 5.1% in 2017, almost 2% lower than the rest of the market. What's going on?

Affordability does not seem to be an issue. More Americans can afford a top-level home than ever before. Instead, it might come down to two other factors.

First, uncertainty surrounding the new tax bill could be affecting luxury homes more strongly, and this might be the reason why some potential buyers are choosing to sit and wait until the details of the tax plan become more clear.

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Demand and supply are more evenly matched
at the top of the market.

”

Second, there is simply a greater supply of luxury homes compared to other types of homes. In fact, 53% of the available housing inventory is in the premium segment, compared to 23% for starter homes and 24% for trade-up homes.

In other words, demand and supply are more evenly matched at the top of the market, while in other segments, demand far outpaces supply. What does this mean for you?

If you've been thinking about trading up to a luxury home, now might be the ideal time to do so. With the lack of buyers in this price point, you may be able to get the very best deal for a luxury home that we’ve ever seen. The red-hot demand for starter and trade-up homes means you could sell your home for top dollar and at record speed. The limited price growth and greater inventory at the luxury end mean you could have your pick and find a special, unique, and customized home that perfectly suits your preferences.

If you have any questions about the current Baxter real estate market, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Introducing a New Way To Sell Your Home

chad@upnorthemail.com (Chad Schwendeman) — Fri, 25 May 2018 12:30:00 -0700

Avoid the hassle of listing by selling to us directly through our new “Buy It Now” program.

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I am excited to inform you of a new program we are rolling out.

Across the country, we are seeing companies such as Opendoor and OfferPad take many markets by storm. In cities such as Phoenix, Las Vegas, Dallas, Orlando, and more, there are double-digit market shares for these companies. This allows sellers to avoid listing their home for sale but still get an offer.

In response to this popular option, I want to introduce you to our “Buy It Now” program.

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We will buy your home for cash and
close when you want.

”

If you are thinking of selling your home, but do not want to deal with the hassle of open houses, unqualified buyers, and deals that fall apart because of home inspections or financing this may be the program that is right for you.

You can visit our new website clickthensold.com and check out our new Buy It Now program for yourself. If this option makes sense for you, we will buy your home for cash and close when you want.

If you have any questions or are thinking about listing your home, please feel free to contact me. I would be happy to speak to you about this exciting new program.