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Johnson Hometown Realty – Milestone Met…

There are many advantages to working in the real estate industry.  Without question, the best part of this job is helping people realize their dreams. Buying and selling real estate is generally a pretty big deal for our clients, and assisting them with the process is very satisfying for us.  Seeing all kinds of nice, well-kept homes up close and personal is another perk that we enjoy.  Our office just passed a milestone of sorts as we recently closed on the first million dollar plus home that we have been involved in this year. This home is in Chaska, and working all the way down there is unusual, but the buyers know and trust us so they asked if we would represent them in their purchase.

Eight bedrooms, 6 baths, 6894  square feet of spectacularly finished living space, a large hot tub, a beautiful in-ground pool, 3 fireplaces, and much more all located on the first fairway of the Chaska Town Course golf course made this property well worth the just over $1,000,000 price paid.  We did some driving and put in some time, but it was a lot of fun seeing this home and helping our friends make it their own!

If you are looking for representation in purchasing property locally or elsewhere in Minnesota,  get in touch with one of the experts here at Johnson Hometown Realty – We would love to help you make your dreams come true!!  218-263-4411.

Posted in: Buyers, Real Estate Market, Sellers

Busy Busy Busy

Busy.  That seems to be the most commonly used adjective on the Iron Range this spring.  I talk to lenders, appraisers, home inspectors, contractors and others and everyone is busy.  If Ed McMahon were to ask, “How busy are you?”  I’d reply, “Very busy.  In fact I am too busy to write this blog.”  (But Marcy said I should come up with something…)

I have said it before, but interest rates are still favorable, local home inventory in most price ranges is good, and the mining industry is flourishing; so everyone is busy.  This means long days for us, and for potential buyers and sellers it means it is time for you, too, to “Get Busy!” It is time for you to call one of our Johnson Hometown Realty experts for information about what is available for purchase, or for a free, confidential, no obligation market analysis to help you ascertain what your property is worth in today’s market.  We are busy, but we are never too busy to help you with any real estate need!!

Johnson Hometown Realty     Knowledgeable     Dependable     Professional

218-263-4411          www.johnsonhometownrealty.com

Posted in: Buyers, Community Interest, Real Estate Market, Sellers

ALWAYS OPEN! Not Always Here!

We think the sign on our office door is kind of clever, but we take it very seriously.  “Always Open” means that we are available when you need us. We realize not everyone has the same schedule and that you may need to see a house, list some property, or simply ask a real estate-related question in the evening, during a weekend, or on a holiday.  That is why we do everything we possibly can do to be available when you need help.

“Not Always Here” refers to the fact that there are times when everyone is out working, or home for the evening, or somewhere living life.  That is why the office number (which is ALWAYS monitored) is on our door and each of our cell numbers is on our business card.  If you call, text, or e mail any one of us, we will answer or get back to you very quickly.

At Johnson Hometown Realty, we realize that real estate transactions are big deals to everyone involved so we treat each one that way.   And we know that real estate questions can be very important and time-sensitive so we will answer them promptly.  Stop by and visit us anytime. We are’ Not always here”, but we are “Always Open” to help you in any way we can.

2402 First Avenue, Hibbing, MN       218-263-4411         www.JohnsonHometownRealty.com

Posted in: Buyers, Community Interest, Real Estate Market, Sellers, Uncategorized

The Market as of March

As of today, March 31, we are already 1/4 of the way through 2018.  From a weather perspective, it is hard to call this a great year so far, but from a real estate point of view, it has been terrific!!  Inventory in just about all areas and price ranges is solid.  Interest rates are up a bit, but still favorable (See our most recent Blog post.)  And buyers are active in most all segments of the market.

Following are some numbers from selected areas as of the end of March.

Residential Homes

City                              # listed                     # sold since 1/1/18

Hibbing                           81                                       28

Chisholm                        23                                        11

Mt. Iron/Buhl                 13                                          7

Virginia                            45                                        21

Aurora/HL/Biwabik       39                                         12

Waterfront residential – Currently listed – 229 (All areas)  Sold since 1/1/18 – 24.

These are strong numbers indicating high real estate activity for this area during this time of year, and things are likely to pick up dramatically as the weather warms up.  What these numbers mean for local sellers is this:  “Don’t miss out!  If you have something to sell, get it listed today!!”  For help, for answers to your questions, and/or to list real estate of any kind, contact one of our Johnson Hometown Realty experts today!!  218-263-4411.

Posted in: Community Interest, Real Estate Market, Sellers

Mortgage Movement Matters

There has been a lot of chatter lately about interest rates rising.  If you have lots of money invested in C.D.’s, higher rates are a good thing!!  If you are thinking about financing anything (especially something major, like a home) then higher rates are not so good. How all this macro-economics stuff works is far beyond most of us, but what it means in our lives is pretty simple:  Higher rates means higher mortgage payments, and quite often, it means a buyer can afford less house.

So far mortgage interest rates have risen approximately 1% in the past 6-8 months or so from historical lows of around 3.25% to around 4.25%-4.50% today.  The conventional wisdom is that rates will go up another 1% or so in the next 6-12 months; lets look at what that means to a home buyer. If you borrow $100,000 at the current rate of 4.25%, your principle and interest payment will be about $492/month.  The same loan taken at an interest rate of 5.25% has a payment of $552/month – $60 more each month and an extra $21,600 over the 30 year life of the loan.  So higher rates costs you lots more money, and it also may mean you can no longer qualify for the property you want to buy as the lender uses the amount of any loan payment in figuring out the amount that you can borrow.

Now, buying property is far too important a move to rush into.  However, if you plan to make a purchase in the near future, your payments will never be lower than they are today.  If you have questions about interest rates or financing of real estate, contact your lender soon.  If you have questions about the local housing/lake shore/recreational property market or anything that is currently for sale, contact your Johnson Hometown Realty expert today and let us help you find what you are looking for!!!

2402 First Avenue, Hibbing, MN ….. 218-263-4411…..JohnsonHometownRealty.com

 

Posted in: Buyers

Going the Distance for our Clients – One Way or Another!!

A couple of weeks ago, Danielle Randa-Sauter, one of our Johnson Hometown Realty experts and our Associate Broker, posted on Facebook about an unusual lake home showing she had participated in. The listing had a nearly half mile long driveway that had not been plowed all winter, so she and her buyers took snowmobiles in to view the property (which they liked very much, BTW).

This morning Danielle demonstrated another way we go the extra mile for our clients at Johnson Hometown Realty. A buyer living in Texas is very interested in a home located in the area, but they are unable to get up here to view it in person at this time. Danielle met friends of the buyer at the listing this morning and used FaceTime to give the buyers a real time virtual tour of the property inside and out with the friends present to help explain to the buyer exactly what they were seeing!

Four feet of unplowed snow? Not a problem!  Thousands of miles of distance? Piece of cake!  Whatever it takes to provide great service for our clients is what we are committed to do here at Johnson Hometown Realty!!!

Knowledgeable, Dependable, Professional

218-263-4411

Posted in: Buyers, Real Estate Market, Sellers

Iron Range Area Real Estate Market is Strong – Busy Month in February!

We have been posting often about how active the market is and how busy we are.  There are now some hard numbers to back this up. In spite of the cold, the snow, and the melting that has been happening this past month, the Range Multiple Listing Service reports the following for February:

72 “solds” for the month

4 Commercial/Industrial properties sold

2 Waterfront building lots sold

5 Residential building lots sold

1 Multifamily unit sold

46 Residential homes sold

And, perhaps most surprising for the time of year, 14 Waterfront Residential listings went sold/closed!

The point is, it is definitely not too early to put your property on the market!!  To list any type of real estate, or to get a free, confidential market analysis of your property, or to simply ask some questions about the the process, call your Johnson Hometown Realty expert today at 218-263-4411!  We are always available to serve you!!

Posted in: Sellers

Buyer Tips to Make the Property Purchasing Process Painless #4!

The final step in the buying process is our topic for today – Buyer Tip #4 – Writing an Offer!!

A)  Plan on spending 60-90 minutes with your Johnson Hometown Realty expert, especially if you have not written an offer recently.  We want to be thorough and explain all of your options to you so that you know exactly what you are signing and exactly what the process involves.  B)  If you have not yet done so, have your lender forward a copy of your pre-qualification letter to your agent to be included with the offer.  C)  There are several things you need to know prior to writing the offer. Here is a partial list: 1)  How much do you intend to offer?  2) How soon would you like to close on the property? (take possession) 45 days or so is typical.  3)  What type of financing will you be using?  4)  Will you be asking the seller to assist you with your closing costs?  And if so, how much will you be asking for?  5)  How much of a down payment will you be making?  6)  What personal property, if any, will you be asking for?  7)  Exactly whose names are going on the purchase agreement?  (We will need full legal names of each person involved.)  D)  Finally, be prepared to have an earnest money check made out to the listing company to accompany your offer. This is typically made out for $500. to $1000.  These funds are part of your offer, it is not extra money…

Four tips for buyers that will help to make your next property purchase painless!!  Call us ANYTIME with questions of any kind about real estate!!!   218-263-4411.

Posted in: Buyers

Buyer Tips to Make the Property Purchasing Process Painless #3!

To keep purchasing property as simple, easy, and low-stress as possible, a buyer should follow 4 simple tips.  Tip #1 was to become pre-qualified through a lender. Tip #2 was to learn what is available that meets your needs and fits into your budget. (See our previous blog posts for details.)

Today property buyer’s tip is Tip #3 – Viewing Suggestions. Going to visit homes/cabins/properties in person can be the most exciting and enjoyable parts of the real estate process!  To keep it fun rather than frantic, follow these suggestions:  A)  Give your Realtor at least a day or two notice ahead of your preferred tour time.  Appointments need to be asked for and approved, renters/owners need to be contacted, and your agent no doubt has a busy schedule, too. (But at Johnson Hometown Realty we ALWAYS do our best to accommodate your needs.)  B)  Wear slip on shoes. Sellers don’t want us tracking water or mud into their homes, and slip ons are quicker and far more convenient for you.  C) Kids….We love kids!!  And they can accompany us on showing tours, but you will need to keep them with you and away from the sellers things to avoid any damage to the property or injury to your children.  Also, it is much easier for you to focus on the features of a home if you do not have to focus on your kids throughout the showing.  D)  Be efficient.  Keep moving.  We typically plan on 15-20 minutes per home on our first visit.  Make the first look a preview and plan to go back later for a second look at any home you really like.  E)  We have found it helpful for buyers to take notes on the property spec sheets during viewings and then to organize those sheets into 3 folders – 1 folder of homes you really like, 1 folder of homes you aren’t sure about but that may work, and 1 folder of those homes you wouldn’t live in if they were given to you for free (and there will be homes in each of those categories if you look at more than a few…) This will make it easier for you to identify the properties you want to take a more careful, second look at, and it will help you remember which homes you have already viewed.

Watch for Tip #4 – Writing An Offer – coming to a blog post near here soon!!

 

Posted in: Buyers

Buyer Tips To Make the Property Purchasing Process Painless

The process of buying property can be difficult, complicated, scary, and stressful…..BUT it does NOT have to be any of these things. To make the property purchasing process go smoothly, follow these 4 simple tips:

Tip #1)  Get pre-qualified through a lender. This process and the reasons for it are covered in a previous blog – “Why Should I Pre-Qualify?” – and in the “Financing” section of the “Buyer” tab of the Johnson Hometown Realty homepage.  After you you have been pre-qualified, it is time to begin actively looking for your new home/cabin/building lot or recreational property.

Tip #2) is our topic for today:  Learn What Is Available in your Price Range and in the Areas you are Most Interested in.  A) Use the “Search Listings” or “Search” link on the homepage of  Johnson Hometown Realty to check on everything currently listed for sale that may fit your needs. B) Contact one of our Johnson Hometown Realty experts and ask to receive an automatic e-mail every time a new property comes on the market or is reduced within your parameters.  C) Begin doing drive-bys to check on the neighborhood, distance, exterior etc of those properties that appear interesting to you. D) Call your Johnson Hometown Realty expert to set up a tour of those properties you think you may like.

Watch for Tip #3 – “Viewing Suggestions” – coming in the next couple of days…..

Posted in: Buyers

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Johnson Hometown Realty
2402 1st Ave.
Hibbing, MN 55746
218-263-4411

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