2022 Year End Market Updates
2022 was a wild year in the real estate world. We started the year strong and slowed down as interest rates increase. The year started off with rates around 3% and saw the year end with rates just under 7%. Following is the final year market stats for 2022.
Tax Aspects of Home Ownership: Selling a Home
This article was written by a Turbo Tax Expert, dated 12/1/2022 Profit on home sale usually tax-free Many home sellers don’t even have to report the transaction to the IRS. But if you’re one of the exceptions, knowing the rules about excluding the profit from your income can help you hold down your tax bill. […]
Thank you for 2022
Thank You for another Unforgettable Year! As winter approaches here in Northern Minnesota, we want to take a moment to thank all of our clients, friends, families and associates that played a role in another unforgettable real estate season! To All Our Clients, Friends and Acquaintances (both new and old), As the end of the […]
VRBO’s in St. Louis County
Short term rentals in St. Louis County–What You Need to Know Reminder: St. Louis County regulates VRBOs. St. Louis County regulates short term (vacation home) rentals. A short term rental dwelling unit is defined as any home, cabin, condominium or similar building represented to the public as a place where sleeping accommodations are furnished to the public […]
B.I.C. Realty affiliates with eXp Realty
B.I.C. Realty and it’s real estate agents are excited to announce they have joined forces with eXp Realty, the fastest-growing residential real estate company with over 80,000 agents globally. The core values of eXp Realty align with that of B.I.C. Realty include community, collaboration, services, integrity, fun and innovation. This transition will enable B.I.C. Realty to […]
Property Escalation Clause
What Is An Escalation Clause And When Is The Time To Use One? It’s not uncommon for sellers to receive more than one offer in a soaring real estate market. Therefore, depending on the type of real estate market you’re buying a property in, an escalation clause in real estate may be necessary for winning […]
Local Business Spotlight: True North Home Inspection
Kyle Hotchkiss founded True North Home Inspection in 2016 in Northern Minnesota, serving St. Louis, Itasca, Koochiching, Lake and Cook Counties, sometimes Carlton and Aikin, as being centrally located on the Iron Range gives me the advantage to not charge travel fees to our clients. We often perform our services by proxy. We also offer […]
Questions on Floodplains
Minnesota is known as the Land of 10,000 Lakes and with that comes the potential for flooding. If you are interested in purchasing or selling a property that borders public waters, flooding maybe a concern for a buyers and their lender. Flood maps are produced by FEMA and the Minnesota DNR that show how likely […]
Reasons Buyers Are Losing out on Homes
There’s no doubt this is a difficult environment for buyers. With low inventory and high demand, buyers have few options to choose from and an abundance of competitors. However, there are plenty of buyers who are doing themselves a massive disservice by making one (or several) of the following mistakes: 1. Not being aware of just […]
Code of Ethics
Did you know Realtors are obligated to follow a pretty lengthy Code of Ethics? This helps to bring integrity and fairness to real estate transactions. For more information, click here: CODE OF ETHICS