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
Property Taxes and Assessed Value
How does the Assessor determine your property value? It’s property tax assessment letter season. And, this year, many homeowners in our area are surprised to see a spike in their property values — again. Median property values in our area have increased significantly in the last year due to low inventory and low interest rates. […]
How Much Money will You get when You Sell Your Property?
Considering selling your home, hunting land, lake cabin or recreational property? If so, you are probably wondering how much money you will make when you get to the closing table. 1. Determine Property Value. A property valuation is a great place to start to help determine how much your property is worth in our current […]
Why Low Inventory is a Win for Sellers
The number of houses, lake homes and recreational property for for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR): “There is no shortage of hopeful, potential buyers, but inventory is historically low.” In our local […]
One Time Showing Agreement
What is a One Time Showing Contract? A “one-time showing agreement” or a Showing and Commission Agreement is a commission agreement between a for sale by owner (seller) and the real estate brokerage company. It is a written agreement in which the seller agrees to pay a commission to the Realtor connected to the buyer. […]
Seller Pay Closing Costs
Asking the Seller to Pay for the Buyer’s Loan Closing Costs? Throughout Minnesota it is common for the buyer to ask the seller to pay closing costs–or part of the loan closing costs–when making an offer. It is especially common with FHA, VA or other similar government backed mortgages. When the sellers pay part or […]
Welcome 2021!
All of use at BIC Realty are looking forward to 2021! Our goal is to provide amazing customer service to our buyers and sellers! We are very thankful for our cients in 2020 and the lessons learned and values re-evaluated due to the covid-19 crisis. In 2021 we want to do, listen, act, show and […]
COVID-19: Buying and Selling Property
You might think that now is not the best time to sell your property. For some people maybe not, but for a lot of property owners, equity has been building at a nice pace for many years and historically low interest rates are allowing buyers to afford “more” property and this driving up property values. […]