Brainerd Lakes Real Estate Podcast with Chad Schwendeman

Contrary to popular belief, the wintertime is agreat time to sell your home. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 inDecember, January, and Februaryare very serious becausethey 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!

What are the benefits of listing your home onthe market during the winter months? Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 lowinventory and the serious buyers thatour 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!

This is our way of saying "Thank You" for your business and referrals! Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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!

If you rent your home out through Airbnb or VRBO, you need to knowwhat is being proposed in Crow Wing County. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 meanstaxes 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 are cordially invited to our 4th Annual Oktoberfest! Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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!

Being able to pay off your mortgage in under 30 yearsis not only possible, but it’s also very easy to do. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 higherpayment, shortening your term from20 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.

If you’re looking to get into real estate investing,I have five tips that will help you. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.

Today I’ll lay out seven steps to take if you want your home tosell quickly and for the most money possible in our market. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 willensure that your home stands outin 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!

You’re invited to come learn the ins and outsof flipping at our free upcoming seminar. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.

A massive class-action lawsuit has been filed againstthe National Association of Realtors and other top brokerages.Here’s what you need to know about the case. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.

One of the only things that politicians can agree on is thatwe need housing reform. Here’s how they plan to tackle the issue. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 whileto 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.

Make the most out of your home sale by joining our workshop.Here’s how. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.

Learn the best tips and tricks for maximizing yourhome sale at our upcoming sellers’ seminar. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 maximizethe sale of your home and putmore 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 have dropped significantly of late.Here’s what I think is behind the trend. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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!

We hope you’ll join us for our upcoming Sellers’ Workshop! Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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!

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. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 are on the rise. What does this mean for you? Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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 themortgage rate, it’s about therise 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.

How can you score a free pie this holiday? Find out here. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.

Our third annual Octoberfest is coming up soon and we hope to see you there. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.

Investing in a starter home isn’t the right move for every homebuyer. However, it may be an advantageous move for some. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report 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.   “ A starter home can help you save money and build equity. ”   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.