CENTURY 21 Land of Lakes real estate news and activities for Grand Rapids MN and the greater Itasca County area.

We want to help our website users have more information on what is happening in the local communities and what it's like to live in Northern Minnesota as well as all the latest real estate market information. Morning lake viewWe will include information such as new restaurants, latest snowmobile trail conditions, local ice fishing contests, community events and much more. We welcome your feedback and comments.

Jan. 27, 2021

Sellers Needed

We have buyers! We need sellers!

Century 21 Land Of Lakes has a large data base of buyers currently looking for all types of properties.

Here are a few of them. 3 bedroom lake home/cabin on Pokegama lake with garage and or storage shed, sand shoreline, price range is up to $400,000.

2 plus bedroom lake home/cabin on Moose, Deer, Wabana or Trout lakes. Garage or storage shed, privacy, price range up to $350,000

3 bedroom acreages with in 20 miles of Grand Rapids MN, prefer a garage or storage sheds, up to $250,000

These are just a few of the buyers we are currently working with that are pre approved and ready to buy. If your thinking of selling give us a call. 218-326-0323.

Posted in Market Updates
Jan. 21, 2021

Why NOW is the best time to sell your home

Why NOW is the best time to sell your home

 

If you’ve been thinking about making a move - whether it be to upgrade, downsize, or move to a new location, you may be wondering when the right time to sell your home will be this year. Many homeowners wait until the spring to start considering, but the real estate market has been booming ever since 2020, and these results have carried into the beginning of 2021. In fact, the market is hotter than EVER before, and that’s something to take advantage of!

 

Below are just a few of the many reasons why now is the best time to sell your home, and why you shouldn’t wait to do so.

 

1. Buyer demand is higher than ever

Buyer demand has skyrocketed all over the country - and due to a large increase in the desire for vacation homes with woods, water, and more outdoor space, demand in Minnesota has seen a significant increase specifically! Minnesota has seen a 16% increase in home sales since last year, and the percentage continues to grow. What does this mean for you as a seller? There are LOTS of buyers out there that are bound to be looking for a home just like yours. Buyers are more competitive than ever, meaning you will most likely receive more of a variety of offers, and can sell on your own terms!

 

2. Mortgage Rates are the lowest they’ve ever been

In 2020, mortgage rates hit all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. What this means is that it is less expensive to borrow money for a home loan today than it has been in years past. More buyers are qualifying for homes that wouldn't have qualified at a higher interest rate. All of this results in more buyers eager to look for a new home, and they are more likely to pay more for one!

 

3. Inventory is extremely low

Nationally, we are seeing a shortage in inventory, meaning there are not enough homes to meet buyer demands. According to the National Association of Realtors (NAR), inventory available today is 2.3-month supply at the current sales pace, which is down from a 2.5-month supply. This record-low inventory is not even half of what we need for a normal or neutral housing market, which should have a 6.0-month supply. In Minnesota specifically, there has been a 36% percent drop in inventory. As a seller, this is a very good thing. This not only plays into receiving more offers and being able to sell on your own terms, but it means that your home will have less competition and thus more eyes on it. Due to this low inventory and high buyer demand, homes are selling faster than ever - your home will probably spend less time than average on the market.

 

4. Home Equity is rising Today’s low inventory of homes on the market is contributing to home price appreciation. Homes are worth more than they ever have been before, because a home for sale is so hard to find! In Minnesota, home prices went up 9.3% in 2020 compared to 2019, from $259,000 to $283,075 - and they are expected to stay consistent (if not increase) in early 2021. That means your home’s market value has likely risen, and you could be selling your home for more money than ever before!

 

Although the outlook of the real estate market continues to look optimistic for early 2021, these numbers are likely to change later on in the year. It is important to take advantage of this seller’s market and make a move now before things change! These record numbers mean a quick and satisfying selling experience, having the opportunity to negotiate the best possible contracts with buyers who are up against intense competition for finding their dream home.

 

This sweet spot won’t last forever - come talk to us before more homes are put on the market! We are currently working with multiple different buyers who are eager to find their next home and we might be able to sell your home before it even hits the market

Jan. 18, 2021

Itasca County MN Dec 2020 market overview

Itasca county Dec 2020 real estate market numbers.

New Listings 34 listings in 2019 compared to 42 listings in 2020 a increase of 23.5% 

Pending sales 2019 - 40 pending sales vs 2020 - 65 pending sales a increase of 62.5% 

Closed sales 2019 - 72 closed sales vs Dec 2020 - 93 closed sales a increase of 29.2%

Avg Sale Price 2019 - $173,615 vs Dec 2020 - $208,162 a increase of 19.9%

Monthly supply of homes for sale Dec 2019 - 5.1 months of supply vs Dec 2020 1.6 months of supply. 

As the numbers above show it is a sellers market. Now is the time to list your home in the greater Grand Rapids MN area. Give us a call if you or anyone you know is thinking about selling. 

Posted in Market Updates
Jan. 8, 2021

Why YOU should become a Real Estate Agent

                              Why YOU should become a Real Estate Agent

In today’s uncertain job market, you may be searching for (or curious about) a new job venture with more security. Are you looking for a way of making more money or having freedom and flexibility at your job? A real estate profession may be the answer to this.

 

2020 was a record-hitting year for the real estate market. Nationally, home sales increased by 27% and buyer demand remained stronger than ever. Low mortgage rates, which dropped from 3.90 to 2.90 over the year, were offset by low inventory. Because of these factors, home prices rose an average of 16%! In Minnesota specifically, there were over 83,824 home sales last year, a nearly 10% increase over last year, according to the Minnesota Association of Realtors (MAR).

 

Real estate agents were busier than ever in 2020 and many saw their own personal best year. Strong growth is expected in 2021 for housing sales, rents, and home prices - national surveys have suggested that as the economy begins to improve, buyers are looking to spend more money. What does all of this mean? The new year is a very good time to become a real estate agent - and here are the reasons why you should consider becoming one yourself.

 

1. You get to be your own boss

A real estate profession is one of the very few that you are your own boss and work on your own terms. You have a flexible daily schedule and can decide what you do and when you do it - as well as a flexible vacation schedule in which you can vacation and return whenever you decide. Say goodbye to limited PTO! Becoming a real estate agent also gives you location independence, so you can work from home, your office, your car… anywhere you want! You decide how to manage your time, priorities, and how you reach your goals.

 

2. Choosing real estate can be a quick process compared to other careers, and you don’t need a college degree

Compared to other careers, such as becoming a lawyer or surgeon, becoming a real estate agent is less-time consuming and no college degree is required. This doesn’t mean that it’s an easy choice, but simply that there are accessible educational opportunities that people of varied backgrounds can use to their advantage. All you need is to be 18 years old, have a social security number, and a few other basic requirements. You can even take classes online for further convenience!

 

3. There’s earning potential, and your business is scalable

One of the best parts about real estate is that there is no limit to how much you can make, like a typical salary-based job. Because you are your own boss and decide how much (and how hard) you work, you are in total control of your earnings. Success will not come overnight, or easily. Real estate is hard work, but if you put in the effort and time it will show. Your real estate business has potential to grow beyond a five- or six-figure income - the sky's the limit!

 

4. Real estate professionals help people during major life milestones

If you are someone who likes to help others, you will find much satisfaction in real estate. From a new couple buying their first house to families buying a vacation home, you will help people through a new stage in their lives and you can truly be part of a community. When working with clients in real estate,

you sometimes have to wear multiple hats: part counselor, part life coach, and sometimes part mentor. That can be rewarding for those who have a passion for giving back.

 

5. Real estate is always changing and you never stop learning

Many people dread the idea of sitting in a cubicle doing the same thing every single day - but real estate is far from that. Although an office setting may be a part of your daily work routine, you will always be out in new settings and environments, showing different homes or scoping out new neighborhoods. The real estate industry is also ever-changing in terms of information and trends. As a real estate agent you are constantly adapting to different markets, new trends, and different types of clients with various personalities and challenges. For some, this can be incredibly exciting! No day is the same when working in real estate.

 

6. Real estate allows you to meet new people and opens doors to unique opportunities

One of the most significant advantages of getting your real estate license is that you will have the opportunity to meet all types of people - including people you otherwise would never ordinarily meet. A career in real estate is the perfect way to be social, network, and learn about people from all different walks of life. In real estate, networking is a crucial part of becoming successful and making more money. As your sphere of influence grows, you will meet more people and acquire more leads. You never know who you might meet, and what opportunities they potentially might have to offer you!

 

If you are a social, hard-working person who wants to make a difference in others’ lives while bettering your own, real estate is for you! Now is the time to start reaching your full potential and do something rewarding. Don’t wait! If you are interested in going for your real estate license and have questions about being an agent or about the process to become one, we are here to help.

Nov. 25, 2020

Itasca County Mn Oct 2020 Market overview

Itasca County Mn Oct 2020 real estate market numbers.

New Listings Oct 2020- 96 listings vs 2019 - 120 listings a decrease of 20% Year to date numbers show a 20.4% decrease in new listings.

Pending sales Oct 2020 - 122 pendings vs 2019- 104 pendings a increase of 17.3% year to date show a 17.3% increase.

Closed Sales 202- 179 Oct. 2020 closed sales vs Oct. 2019- 123 closed sales. A increase of 45.5% Year to date is a 15% increase in closed sales.

Avg Sale Price Oct 2020- $244,556 vs 2019 Avg sale price $181,368. Year to date there is an increase of 8.1% over 2019

Inventory. Oct. 2020 we have 279 active listings vs Oct. 2019- 733 active listings. A decrease of 61.9%

This is a great time to sell. Low inventory equals high sales prices.

These numbers are provided by the Itasca Board of realtors.

Posted in Market Updates
Nov. 13, 2020

Home owner tips

5 Tips For Getting Your Home Ready For The Winter Months!

 

It’s already November and you know what that means, the Winter months are approaching! That being said, it is crucial that you get ready before the unpredictable snowy weather. There are plenty of home maintenance tips that will save you big time and we have the list! 

 

The list contains plenty of must-do’s, which are the ones that will save you not only money on your energy bill, but also the cost of any expensive repairs down the road if you do not get ready beforehand. 

 

Are you ready for the list? Well let’s go -- 

 

  1. Take care of your wood floors

The snow and dirt can cause a complete mess on wood floors. Before you let that happen, be sure to mop, sweep, or dust regularly or place mats and rugs in the highest traffic areas in your home. If not, rock salt can cause serious damage to your floors such as serious scratches and cracked floorboards. 

 

  1. Clean your oven

It’s to no surprise that homemade food is even more popular in the Winter months so this is a big tip that should not be overlooked! Make sure to DEEP CLEAN your oven and stovetops. The oven and vents can easily turn into the dirtiest feature in your kitchen because they collect a lot of grime and grease. Not only should you deep clean your oven once and awhile, but clean it regularly between every home cooked meal. 

 

  1. Check out your home’s heating and air conditioning system(s)

Before the weather turns cold, this is the perfect time to change your filters at the very least. Or, if you have a programmable thermostat, you should set your temperatures for the winter to save on heating costs. Make sure to also check the batteries and change them if needed!

 

Extra tip: Weatherproof your windows to save even more on heating. You can do so by removing any old caulking.

 

  1. Consider a roof inspection

It is important to check for missing shingles, roof tiles, and damage as part of winter roof maintenance. A damaged roof can not only cause high energy bills during the winter months, but can also cause water damage in your attic or top-room floors. If you can, reach out to professional roof repairs and inspections because they will know exactly what to look for.

 

  1. Clean your gutters

Once the leaves stop falling, you know it’s time to clean those gutters! If not, it could create all kinds of problems. You wouldn’t want to miss out on this because if you do, the water running down your home can speed up the deterioration of your exterior. This may be the last tip, but it sure is one of the biggest tips you need to follow!

 

These are just 5 of the most crucial tips you should follow when preparing for the Winter months. If you’d like some more tips, or are in need of hiring professional help, we are happy to assist! 

Posted in Home owner tips
Nov. 5, 2020

8 Things I like about being a realtor

8 Things I like about being a realtor

1. You're able to set your own schedule. Work nights or days or weekends it's up to you. 

2. You get to meet lots of nice people of all walks of life. Some of these will become lifelong friends.

3. You get to see beautiful homes and properties for sale. You will always see something in a home that gives you ideas of things you can do in your own home. 

4. Unlimited income potential. You decide how much you can make by  how you run your business.

5.You get to work with some other great real estate agents. It's always fun to work with a great agent on a transaction. It makes the process go smoothly for all parties. 

6. You get to be part of the joy of a first time home buyer closing on their new home. Seeing their smiles and enjoyment is priceless. 

7. You can work remotely. If you have kids or have a longer commute this helps with the flexibility of your schedule. 

8. It's never boring. Things are always changing. Each day brings something new. You're constantly learning. 

Oct. 15, 2020

Itasca County MN Sept 2020 market overview

Itasca County MN Sept 2020 Real estate Market numbers.

New Listings 155 in 2020 vs 141 in 2019. This is a increase of 9.9% Year to date we are still down over all on new listings by 20.6%

Pending Sales 161 in 2020 vs 122 in 2019 a increase of 32%

Closed Sales 165 in 2020 vs 113 in 2019 a increase of 46%

Avg Sales Price $214,314 in 2020 vs $176,559 in 2019 a increase of 21.4%

Homes for sale 349 in 2020 vs 816 in 2019 a decrease of 57.2%

These numbers continue to show that its a sellers market. Buyers are still very active and your home is worth more now than it was a year ago. If your looking to sell or just want to know what your home is worth, give us a call. 218-326-0323.

These numbers are from the Itasca Board of Realtors.

 

Posted in Market Updates
Sept. 10, 2020

Itasca County MN Aug 2020 market overview

August 2020 Real estate market overview.

New Listings Aug 2020 - 166 new vs Aug 2019- 187 a decrease of 11.2%

Pending Sales Aug 2020- 176 vs Aug 2019 - 168 a increase of 4.8%

Closed Sales Aug 2020 - 195 vs Aug 2019 - 190 a increase of 2.6%

Avg Sale Price Aug 2020 - $228,910 vs Aug 2019- $204,019 this is an increase of 12.2%

 

New home listings are still down for the year and the buyers are still very active making it a sellers market for the Grand Rapids MN area.

If you thinking of selling give us a call at 218-326-0323.

These numbers are from the Itasca Board of Realtors.

Posted in Market Updates
Aug. 25, 2020

Itasca County MN July 2020 market overview

Itasca County July 2020 market report.

New Listings 210 for July a decrease of 9.9% vs July 2019 and Year to date a decrease of new listings by 25.3%

Closed Sales 190 a increase of 32.9% vs July 2019 and for the year an increase of 5.3%

Avg sale price $198,367 a slight decrease of .3% vs July 2019

 

We have buyers for lake homes on Deer, Moose, Wabana and Pokegama lakes. If you are thinking about selling now is a great time. 

Give us a call if you or if you know someone is thinking of selling. 218-326-0323

Posted in Market Updates