Daryl Bauer. Home Resource Group owner Remax Advantage Plus was the guest of today’s KDHL AM Minnesota program.
We have covered various topics. One of the most interesting pieces of information revealed is the fact that he told us that prices for Faribault homes rose 23% from October 2020 to October 2021.
I asked if this was unprecedented. His response: “I have to believe this is unprecedented. I’ve never seen such jumps before. Typically, a healthy market will experience a two or three percent increase.”
Bauer says that such an increase is “really unhealthy. It is not sustainable. There were many years there where the Faribault market was dead in the water. Around 2007 approximately. Faribault recovered about six or seven years ago. a lot of ground to catch up, but now we’re at that point where we’ve gone beyond catching up with that market. a year and a half.”
Interest rates are still very low. Bauer said, “We just took out a mortgage for one of my clients last week. 2.75% VA (Veterans Administration) zero mortgage for him. Simply amazing and we see this in all types of loan programs. . Whether it’s conventional, we see 3% or less regularly. “
“You get rural development type loans from the USDA (United States Department of Agriculture), they’re consistently less than 3%.” Bauer added, “Anyone who has a good job, has taken care of their credit over the years can be a homeowner now.”
Bauer will answer all real estate questions without any obligation at 952-240-5773.
A podcast from today’s show is below.
It’s interesting to read.