Blog

Housing Inventory Is Up and More Sellers Are Willing to Negotiate!

You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is – it does. Here’s why.

Once you’ve made up your mind to downsize your living conditions, it is time to develop a step -by-step plan so your transition moves along smoothly. Check out these 10 tips to get started in the right direction!

When we say ‘commercial real estate, simplified’ we mean it. Buying, selling, or leasing commercial property can feel stressful and even overwhelming. You want to know that you have an experienced and trusted Commercial Real Estate Brokerage on your side, working to help you achieve your goals! Serving Elk River, MN and surrounding communities since 2008.

If you are behind on your mortgage payments or your mortgage is out of balance with your budget, and you want to avoid foreclosure, you need to know your alternatives, and quickly take action!

 Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired.

Have you outgrown your current home, or do you find yourself in a position needing to move and buy a new home? Many persons in this situation are keeping their current property, renting it out, and buying another. 

According to the U.S. Census Bureau, median rent continues to rise. With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership that stretches each dollar a little bit further. While the best timeline to buy a home is different for everyone, the question remains: Should I continue renting or is it time for me to buy? The answer depends on your current situation and your future plans, so here are some thoughts to help you decide if you’re ready to own a home of your own. 1. Rent Will Continue to Increase This is one of the top reasons why renters decide to move because in most cases, rent will continue increasing each year. As noted above, the U.S. Census Bureau recently released its quarterly homeownership report, and as the graph below shows, median rent is climbing year after year. When you own a home, you’ll lock in your monthly payment for the life of your loan, creating consistency and predictability in your payments. 2. Freedom to Customize This is a big decision-making point for many people who want to be able to paint, renovate, and make home upgrades. In many cases, landlords determine all of these selections and prefer you do not alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own. 3. Privacy When renting, your landlord has access to your space in case of an emergency. If you own your home, however, you’re the one to decide who can come inside. Given today’s health concerns around the pandemic, this may be a growing priority for you. 4. Flexibility for Relocation If you’re renting, it may be easier to move quickly should you have a job transfer or simply decide it’s time for a change. When you’re a homeowner and need to sell your house, this might take a little more time. Today, however, with the housing market’s low inventory, this may no longer be the case. Homes are selling at a record-breaking pace, so you may have more flexibility than you think. 5. Building Equity When you pay your rent, your landlord earns the equity the property gains. If you own your home, the benefits of your investment go directly toward your net worth. This is savings you’ll be able to use in the future for things like sending children to college, starting a new business, buying a bigger home, or simply downsizing to save for retirement. 6. Tax Advantages When you own your home, there are additional advantages that work in your favor as well. You can deduct things like your property taxes and mortgage interest (Always make sure you check with your accountant to see which tax-deductible benefits apply to your situation). When you rent, however, the tax benefits are directed to your landlord. Bottom Line It’s up to you to decide if you’d prefer to rent or buy, and it’s different for every person. If you’d like to learn more about the pros and cons of each, as well as resources to help you along the way, let’s connect to discuss your options. This way, you can make a confident and informed decision with a trusted expert on your side. If you are thinking of buying, selling, renting your home, or leasing real estate this year we’d love to hear from you! Working with experienced professionals can boost your profits! Acuity Group 564 Dodge Ave. Suite A Elk River, MN 55330 763-633-3535 www.ACGProperty.com OUR SPECIALTIES: Residential & Commercial Seller and Buyer Services, Property Management & Residential Rentals, Association Management, Residential and Commercial Investment Property Specialists, New Construction, Listing & Marketing Specialists, CDPE (Certified Distressed Property Experts), Short Sale Specialists, REO/Bank Owned Sales. Golf course properties, water front properties, acreage & hobby farms, vacant land, condos & townhomes, industrial/manufacturing/retail properties, association maintained properties, senior housing, luxury homes, vacation & secondary housing. Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Mille Lacs and Isanti Counties

If you've owned investment/rental property, and have attempted rental property management on your own, you know what a demanding and time consuming task it can be. The endless details, unexpected time involvement and potential legal issues can really take a toll on a rental property owner. Have you ever considered hiring a rental property manager to take over the day to day operations of your rental investment? Take a look at the numerous property management services that Acuity Group can offer you! About Us: Acuity Group is a full service Property Management brokerage, located in Elk River, Minnesota. We specialize in the leasing and management of residential rental properties. We've successfully managed hundreds of metro area rental homes since we opened our doors in 2008. Our tried and true systems provide our landlords more freedom, peace of mind and profitability! • Acuity Group manages residential rental properties within a 20 mile radius from Elk River, MN. • Our portfolio of properties range from single family homes, to townhomes & condominiums. • We screen and lease our Owners' properties to qualified tenants that meet our Occupancy Criteria guidelines. • We consistently monitor and inspect our Owners' properties to ensure the highest level of maintenance. • We are well versed in and practice according to local and federal law. • Our Property Management staff has criminal background clearance and follows strict written company policy. Our Property Management Services: Pre-Rent Services: • Comparable Rental Market Evaluation • Comparison: Sell vs Rent • Rental Exit Strategy Advising • Investment Strategy Advising • Rental Preparation and Staging Advising • Rental Safety Standard Advising • Property Insurance Review Rental Marketing Services: • Individual Property Marketing Plan with Online Entry to Multiple, Proven Websites • Featured Rental Listing in Acuity Group's Website (consistently places high in online search results) • Social Networking Exposure to Multiple Sites • Lock Box Installation • Property Sign Installation (if desired by Owner) • Property Showings to Pre-screened Tenant Prospects Tenant Screening/Placement Services: • Tenant/s Credit and Background Check (performed using the sophisticated CIC Reporting Residential Scoring System) • Employment Verification • Tenant Rental History Verification • Negotiation of Rental Terms • Preparation of Lease & Contract Addenda (heavy emphasis on Property Owner rights including added protection clauses) • Security Deposit Trust Account Management Property Management & Maintenance Services: • Emergency Service • Online ACH Tenant Rent Collection & Landlord Deposit • Property Inspections • Maintenance Management • Tax filing: 1099 to Landlord and CRP to Tenant • Initiation of Unlawful Detainer Proceedings Hiring Acuity Group to manage your rental property keeps your profits high and vacancies low! Contact us to schedule a free Rental Property Analysis today! Acuity Group Real Estate Professionals 564 Dodge Ave Suite A Elk River MN 55330 Office: 763-633-3535 www.ACGProperty.com OUR SPECIALTIES: Residential & Commercial Seller and Buyer Services, Property Management & Residential Rentals, Association Management, Residential and Commercial Investment Property Specialists, New Construction, Listing & Marketing Specialists, CDPE (Certified Distressed Property Experts), Short Sale Specialists, REO/Bank Owned Sales. Golf course properties, water front properties, acreage & hobby farms, vacant land, condos & townhomes, industrial/manufacturing/retail properties, association maintained properties, senior housing, luxury homes, vacation & secondary housing. Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Mille Lacs and Isanti Counties