Real Estate Fergus Falls, MN 56537 Ryan Field

So the state of the economy sucks and the stock market is continuing in a downward spiral. Lately, I feel like a big pessimists. I need to keep my eyes off the news and focus on the positives. What positives are there. Well I was thinking about how great real estate is as an investment. There are many investment options to pick from including stocks, bonds, mutual funds, commodities, money market accounts, certificates of deposit, and real estate. No, matter which way a person goes they face market risks with whatever vehicle they are using for the investment.

Investment real estate is a great hedge against whatever the economy is doing. Say for example you want to be a slum lord and own an apartment complex or maybe just a duplex. The rents that you receive from your rental will more than likely remain very consistent and probably trend up as time goes on even if the value of the property declines. The best thing about it is that you have someone else (the renters) paying for your investment and hopefully if you have done everything right on the purchase you will be receiving cashflow on a monthly basis. Over the long term the renters will pay off your mortgage and you will receive 100% of the money.

Another reason that I feel that real estate is a better place for your money than the stock market is because it is more stable. Take an example of a 60 year old person who invested in the stock market for their entire working life hoping to live off that money when they retired. In today's market that 60 year may need to work for many more years because they possibly would have lost a significant portion of their investment. If that same 60 year old would have invested their money in the real estate market they would more than likely have completely paid off the mortgage on their investment property and would be able to live off the cashflow it provided even if the value had declined more recently. Rents are typically slower to change than prices in the market place.

What's your opinion on the market lately?

What makes Ottertail County a great region to live and visit?

My Answer: The hunting opportunities.

There are a number of great things that make this area an awesome place to live. We have more lakes in this county than any other county in the United States. We have a landscape of incredible beauty and we have four seasons of weather. My personal favorite season is Autumn. The reason for it being my favorite season is because it is when the football season starts and hunting season starts. We have it all in this area from the stand point of an outdoors man. You can start hunting September 1 and hunt all the way through December 31.Hunters have the opportunity to hunt, ducks, geese, pheasants, grouse, prairie chickens, snow geese, turkeys, mourning doves, deer, and various small game throughout these 4 months. For more information on Minnesota Hunting check out the Minnesota Department of Naural Resources.

This past weekend the early goose season started and I spent Saturday morning sitting in a hole in ground. You might be thinking why in the world would you get up at five in the morning in order to go hunt geese and sit in a hole in the ground. Especially, when you could sleep in or relax? Well as a matter of fact I would for a variety of reasons. Hunting is a peaceful time where you can let the stresses of every day life disappear. Lord knows that this world is hectic! Also, having the opportunity to see animals up close and personal in their natural environment is a very rewarding.

I didn't have any luck getting a goose on Saturday morning but I did capture the beautiful sunrise as it came up over the decoys.

As of the writing of this post the government has recently taken over Fannie Mae & Freddie Mac. Two of the largest backers of mortgages in the United States. So what does this mean for the real estate market?

My oppinion is that it will help out the real estate market based on the following reasons.

1. Interest rates have initially dropped. This should create some stability in the market. The excess supply of homes for sale should decrease in time as demand for homes increases.

2. Prospective buyers will now purchase. Since rates have dropped the cost of home ownership has dropped. Monthly mortgage payments will have dropped and buyers are now able to purchase more. Buyers now are able to purchase more bang for their buck.

3. Cheaper Rates- Homeowners that are feeling the squeeze of an interest rate adjustment from their adjustable rate mortgage (ARM) will now be able to refinance to lower rates.

4. Stabilization of real estate prices. An increased demand for housing should help bring stability to falling real estate prices.

Hopefully, this is the bottom of the market. It is one of the largest macroeconomic events that has happened as of recently that may have an impact on the slumping real estate market. Maybe it is the boost we need. The unfortunate thing is now the American Tax Payer is on the hook for any further market losses as opposed to private money.

What's your oppinion?

How to sell your Real Estate in Ottertail County or Fergus Falls

It is the one thing that almost everyone does at one point in their lives, sells their home. This can be a very confusing time, filled with many questions and few answers. It is hard to understand all of the questions you may have about selling your home. Fortunately, 998home.com can help.

998home.com can help you with all your questions about selling your home. Our agents have many years of experience in the real estate industry. We pride ourselves on quality customer service. Our customers come first and we make selling your home, the same way.

Let's begin the home selling process so that you can understand how easy and hassle-free 998home.com agents make it for our valued clients.

1. Prepare Your Home to Sell
   The first question you might want to ask yourself is, "why do I want to sell my home?" Do you need more space? Are you an empty nester looking for a smaller space? Have you accepted a job in a different part of the country? All of these questions affect the potential sale of your home and the negotiating process of that sale.
   
   Contacting a 998home.com agent will point you in the right direction, too. Our agents have the knowledge and understanding of the industry. They can provide reliable information and get you moving in the right direction towards the sale of your home.
   
   Also take note of the following items:
   • Keep your home in good repair. Before putting your house on the market, walk through and note what needs repairing. Then fix as much as you can before putting it on the market.
   • Clean it up. From de-cluttering to increasing the light in your home, your 99home.com agent can help you find ways to make your house look more attractive to potential buyers.
2. List It
   Before you list your home, it is important to do your homework on the real estate companies in the area.
   • Search the Internet for local real estate companies.
   • Contact two to three companies to see what type of services and marketing campaigns they offer. Ask what their yearly sales statistics are, and what they will do to get your home sold.
   • Talk to people. 9 times out of 10, someone you know has sold their home and can point you in the right direction and provide a credible recommendation.

When choosing a real estate agent, do not be afraid to meet with many different agents. After all, they are competing for your business and this is what makes the real estate industry successful.

Feel free to ask them the following questions:

1. • How many years of experience do you have in this industry?
   • What is your selling experience?
   • What professional certifications do you hold?
   • What services will you provide for me as my agent?
   • How will you represent my property?
   • Can you provide a market analysis for my property?
   • How will you determine the price of my home?
   • Explain the paperwork that I need to sign.
   • What is the time frame for listing my property with you?
2. Determining Property Value
   Pricing your home is a delicate balancing act. If you overprice it, you risk deterring potential buyers, but if you under-price it, you risk selling for less than it is worth. To determine a fair asking price, have your 998home.com Agent determine your home's market value based on its size, location and amenities
   • It is realistic to compare the homes in your area and the asking prices of those homes.
   • The law of supply and demand always comes into play. Do you live in an area with increasing job opportunities or an increasing supply of homes?
   • Owners needs greatly impact the selling price of a home. Do you need a quick sell or do you have time to sit on your sale?
   • The selling price is not cut and dry. On many occasions, the seller will negotiate the price, split closing costs or offer different allowances to the buyer, to make the sale of the home complete.

A qualified 998home.com agent can provide a fair market analysis of the homes for sale in your area. A Market Analysis is free and without obligation. For more information on how to receive a free Market Analysis that will help you properly determine the value of your home, contact 998home.com at 218.998.home or 1.800.500.8158.

1. Getting Your Home Out There - Market It!
   There's a basic truth to successful home selling: If you market it, they will come. That's one of the advantages of listing your home with 998home.com. Your 998home.com agent will work with you to develop an in-depth marketing plan for your home. From real estate publications to the internet, your agent and the 998home.com team will help make sure your home gets the coverage it needs and the service you deserve.
   
   There are a number of different ways that our agents can drive traffic to view your home:
   • www.998home.com
   • Yard Signs
   • Real Estate websites
   • Print Advertising
   • Open Houses
   • Feature Sheets & brochures
   • Multiple Listing Service (MLS)
2. Selling Your Home
   The Offer
   An acceptable offer depends on many different things:
   • Is the proposed offer near the asking price?
   • What is your time-frame - do you have another house payment? Insurance?
   • Do you have enough time to wait for the agent to bring you more potential buyers?
   • What if several offers are received at the same time?

The Counter-Offer
When potential buyers are searching for a home, they can respond in three different ways to the seller(s):

1. • This home is not what we were looking for. We are not interested in the property.
   • We are interested in the home and we will purchase the property on the buyer's terms per the real estate agreement.
   • We are interested in the home, but here is our counter-offer for the property.

Negotiating
This negotiating process can at times seem very complicated. However, the right 998home.com agent will work to make this a hassle-free process.

During the negotiating process of the sale of a home, as the seller you can react in one of three different ways:

1. Accept the buyer's proposed offer

2. Decline the buyer's offer

3. Make a new counter-offer

1. Closing the Deal
   Once a purchase agreement has been accepted 998home.com works to ensure a smooth closing for your transaction. Our primary goal is to relieve agents of handling certain details so they may focus on you, their client. 998home.com will work with your lenders and title companies to close the transaction smoothly.
2. Surviving the Move
   Moving can be one of the most emotional times in your life. The thrill of something new & new career, a new neighborhood, a new home. While this may sound great to some people, for others, these changes can be an emotional rollercoaster.
   
   There are many resources out there. You may want to consult your 998home.com agent for guidance or refer to our Moving Checklist for more information.
   
   Feel free to use 998home.com’s moving truck T-Rex for free!