<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="http://www.minneapolisurbanhomes.com/blog/rss/" rel="self" type="application/rss+xml" />
        <title>Real Estate Blog</title>
        <link>http://www.minneapolisurbanhomes.com/blog/</link>
        <description></description>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/the-pricing-mistake-that-could-cost-you-your-sale.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/the-pricing-mistake-that-could-cost-you-your-sale.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>The Pricing Mistake That Could Cost You Your Sale</title>
    <description> <![CDATA[ 



 


Most sellers come into the market with one number in mind. And it’s often the one that costs them the most. That's their asking price. 


A survey from Realtor.com shows about 8 in 10 (80) of sellers expect to sell at or above their asking price today. But here’s where things get interesting.


In reality, only about 4 out of every 10 (roughly 40) actually do.


That’s a big gap. And it’s where a lot of sellers get caught off guard. So, why the disconnect? And how can you set yourself up to be one of the 4 in 10 that get top dollar? 


Let’s break it down.


What Should You Really Expect To Get for Your House? 


That 40 may sound low at first, but it’s not.


If you look back to the last typical year for the housing market (2019), what we're really seeing is a return to what’s normal (see chart below). If anything, slightly more homeowners are able to sell above list price today compared to 2019:


It only feels low because the past few years were anything but typical. Between 2020 and mid-2022, buyer demand was sky-high and the number of homes for sale was at record lows. Almost everything sold over asking. 


Now, the market has shifted.


There are more homes for sale. Buyers have more options. And that means they’re more selective about how they spend their money.


In other words, the rules have changed – and pricing like it’s still 2021 is where sellers run into trouble. You have to meet the market where it is if you really want to cash in big.


What Happens When a Home Is Priced Too High


Here’s the reality. It’s easy to think pricing high gives you room to negotiate. But it usually does the opposite.


When your home is priced above what buyers expect, in this market, they don’t negotiate. They move on.


Because buyers notice price first. And if your home doesn’t line up with similar options in your area, it may not even get a showing. And that’s when things start to snowball:






A high price gets less interest from buyers.






Less interest means fewer offers.






And fewer offers usually means more time on the market.






Take a look at this table from the Indiana Association of Realtors. While this data is from one state, the general trend is going to hold true across many markets in the country. It shows that homes listed at or under market value sell fast. But homes priced high? They linger. And that delay comes at a very real cost.


The Price Cut Trap (And How To Avoid It)


When a home sits that long without offers, a lot of sellers will do a price reduction. According to Realtor.com, 16.7 of sellers are going that route today.


But here’s the real problem. Even a price cut doesn’t guarantee a sale.


In fact, some buyers will see a reduction as a sign something’s wrong with the house – even when nothing is.


That’s why data from the National Association of Realtors (NAR) shows the longer a home sits, the bigger that price cut tends to be to attract buyers back:


So, what starts as a strategy to “leave room” for negotiate can end up costing you more in the long run.


Why Pricing Right from Day One Matters


Even though listing at or even just shy of market value may sound counter intuitive if you’re looking to get as much money for your house as possible, a lot of the time it really is the best strategy.


Because the goal isn’t just to list your house to see what price sticks. It’s to price it in a way that creates demand from day one.


NAR puts it best:


“While some sellers are pricing their homes higher than ever, a more ‘goldilocks’ frame of mind is a better approach to avoid price cuts and lingering time on the market.”


In other words, there’s a sweet spot. Too high, and buyers disappear. Too low, and they question the value.


But right in the middle? That’s where the magic happens.


And that’s where the right agent comes in.


They help you understand what buyers are actually paying right now, how your home compares, and how to price it so it stands out immediately. And in today’s market, that strategy is the difference between:






Listing high, watching it sit, and selling for less later.






Or, pricing it right, creating competition, and putting yourself in a position to win from the start.






Bottom Line


A lot of homeowners think they can list high now and negotiate later, but that’s a mistake that costs them. And it’s the reason only 4 out of every 10 sellers are getting their asking price or more.


If you want to be in that group, it starts with getting the price right from day one.


Let’s connect so we can make sure you are.
 ]]> </description>
    <pubDate>Thu, 14 May 2026 10:23:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/what-the-foreclosure-headlines-arent-telling-you.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/what-the-foreclosure-headlines-arent-telling-you.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>What the Foreclosure Headlines Aren’t Telling You</title>
    <description> <![CDATA[ 



 


You've probably seen the headlines saying, &quot;foreclosures are on the rise,” and maybe your mind jumped straight to 2008. That’s understandable. A lot of people remember that crash and all the foreclosures that happened during that window, and they’re hoping something like that never happens again. 


But this isn’t a repeat of what happened back then. Here’s the context to prove it.


Foreclosures Are Rising, But They’re Still Historically Low


Yes, foreclosure filings are up 26 from a year ago, according to ATTOM. And they’ve been rising for 5 straight quarters. That's a real trend worth paying attention to. But the full picture isn’t scary like the headlines suggest.


The reality is the increase we’re seeing is a sign of the market normalizing.


Here's an important thing to know about this chart. The extremely low numbers you see in 2020 and 2021 don't represent what's &quot;normal.&quot; That's when the government put a moratorium on foreclosures to help homeowners get through the pandemic. Those years were an exception, not the baseline.


Instead, compare where we are today to 2017, 2018, and 2019 – the last years the market was running normally. Today's numbers are still lower. So, we're not even back to what's typical, yet. That means this can’t be a crash. (see graph below):


While today's numbers are getting closer to pre-pandemic levels, they're still below historical norms. And just look at what was happening around 2008. Even with the recent increase, we're nowhere near those levels. This is a market returning to normal, not heading toward a crisis.


Why Today’s Equity Picture Changes Everything


Most of those filings won't even end in a completed foreclosure. That's because today's homeowners have something most people in 2008 simply didn't have. And that’s equity.


The average homeowner today is sitting on roughly $295,000 in home equity right now, according to Cotality. Back in 2008, many people owed more than their homes were worth. Selling wasn't an option. And foreclosure was often the only door available.


Today, that's not the case. If you have enough equity to cover what you owe and the cost of selling, you could sell your home, pay off your debt, protect your credit, and potentially walk away with money in your pocket.


That's a completely different situation than what homeowners faced during the last crash, and it's a big reason we're unlikely to see foreclosures spiral the way they did back then.


Check out the graph below. It shows foreclosure data from ATTOM going back to 2005. Here's how to read it:




The yellow line tracks all foreclosure filings.


The orange line tracks foreclosure starts, meaning the process has officially begun.


And the red line at the bottom tracks completed foreclosures (the ones where a homeowner actually lost their home).




See how the red line stays well below the other two? That gap tells the real story. A lot of homeowners who enter the foreclosure process never end up losing their home because they find another way forward first.


Today’s equity is a big reason for that. So, even the filings we are seeing now won’t all end in foreclosure.


If You’re Struggling, You Have More Options Than You Think


Maybe you're behind on payments. Maybe you're stressed about what comes next. That's an incredibly hard place to be, but it's important to know that missing a payment or two doesn't automatically mean you'll lose your home.


Banks would much rather work with you than foreclose. It's a complicated, costly process for them, too. They're often willing to set up a repayment plan, offer forbearance (a temporary pause or reduction in your payments), or modify your loan to make things more manageable long-term.


Just know the sooner you reach out to your lender, the more options you'll have. In some states (ones that don't require the foreclosure process to go through a court) things can move faster than people expect. Getting ahead of it early gives you and your lender the most room to find a solution. 


And if selling makes more sense for your situation, a real estate agent can help you understand what your home is worth and whether that's a path worth exploring.


Bottom Line


Foreclosure filings may be rising, but they're still low. And the equity most homeowners are sitting on today is a key reason this looks nothing like 2008.
 ]]> </description>
    <pubDate>Wed, 13 May 2026 10:38:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/why-staging-your-house-could-pay-off-this-spring.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/why-staging-your-house-could-pay-off-this-spring.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Why Staging Your House Could Pay Off This Spring</title>
    <description> <![CDATA[ 



 


Selling your house this season? You’ve probably heard you should stage it before it hits the market. But what does that really mean – and is it worth the effort?


The short answer is “yes,” especially right now.


With more houses for sale this year, you’re likely wondering how to make the most money possible without your house sitting on the market. The answer is staging. It can help your house stand out, bring in stronger offers, and sell faster. As Nadia Evangelou, Principal Economist at the National Association of Realtors (NAR), puts it:


“Staging matters. Preparing the home to be ‘buyer-ready’ attracts more buyers, especially now that inventory has increased.”


Here's what staging actually involves and what it could do for your sale.


What Is Home Staging?


Home staging is the process of preparing your house, so it appeals to as many buyers as possible. That usually means decluttering, deep cleaning, rearranging furniture, and adding simple touches that help each room feel bright, open, and welcoming.


The goal is to help buyers fall in love with the space and picture themselves living there, which makes them more likely to make an offer.


Why Staging Is Worth the Effort


Staged houses tend to perform better on almost every metric that matters when you sell. According to Redfin, staged homes have been shown to sell up to 73 faster than unstaged homes. And they often close in under a month, compared to anywhere from two to three months for vacant ones.


There’s also a strong return on the money you spend.


The Home Staging Institute says mid-level staging can deliver a 350 return on investment. On a $400k home, that turns the typical $4k cost into roughly $18k in added value when you sell (see graph below):


By that estimate, that’s an extra potential profit of about $14k – a meaningful boost when you’re trying to maximize what you walk away with at closing.


Your Staging Options


And just in case you’re seeing that $4k upfront investment above and thinking, “I’m not going to spend that,” here’s what you should know.


Staging doesn’t always have to mean hiring a full crew or filling your house with rented furniture. There are a few different paths you can take, depending on your budget and timeline. So, you could spend a lot less and still get a good return. 


Here are a few options:




Professional staging. A stager handles everything from layout to décor, often bringing in their own inventory. According to the Home Staging Institute, costs typically range from $500 to $5k or more, depending on the size of your house.


Virtual staging. Digital furniture and styling are added to your listing photos, which can be a budget-friendly option for vacant houses.


DIY staging. If your budget is tight and your home only needs minor updates, decluttering, deep cleaning, and arranging furniture for flow can still make a real difference.




Your agent can help you figure out which approach fits your house, your market, and your goals.


Agents see what buyers respond to in open houses and showings every week, so they can give you specific, personalized recommendations on what’s worth your time and money (and what isn’t).


That way you can get the most bang for your buck – no matter your budget.


Bottom Line


With more homes for sale right now, making a strong first impression matters. Staging can help your house sell faster and for more – and there's an option for almost every budget.


If you’re getting ready to list, let’s talk about what level of staging makes sense for your house and make a plan for attracting the right buyers.
 ]]> </description>
    <pubDate>Mon, 11 May 2026 11:27:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/could-co-buying-be-the-answer-for-some-first-time-buyers.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/could-co-buying-be-the-answer-for-some-first-time-buyers.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Could Co-Buying Be the Answer for Some First-Time Buyers?</title>
    <description> <![CDATA[ 



 


For a lot of would-be first-time buyers, affordability is the thing that’s standing in the way. But some buyers are getting creative and finding a way to still make the numbers work – and that’s through co-buying.


The Dream Is Still Alive. The Math Just Isn’t Working for Everyone.


Young people haven’t given up on the dream of owning a home – not even close. According to FirstHome IQ, homeownership still ranks among the top life goals for the next generation.


The problem? 73 of Gen Z and millennial buyers cite affordability as the reason for not making homeownership a priority. And it shows. First-time buyers now make up just 21 of all home purchases, the lowest share since the National Association of Realtors (NAR) started tracking the data in 1981.


But still, some buyers are making it happen. And a portion of them are turning to co-buying to get their foot in the door.


So, What’s Co-Buying?


Co-buying means purchasing a home with someone else, like a friend, sibling, or unmarried partner. You combine incomes, split the down payment, and share monthly costs. For some people, it’s a creative way to turn “someday” into a concrete move-in date that’s just around the corner.


And it's catching on fast, just look at where things stand today. According to CoBuy.io, 64 million Americans now co-own a home with someone they’re not married to. In fact, 31.5 of home purchases involve co-buyers (see graph below):


Why It Works


Here are just a few of the top reasons buyers are going this route, according to NerdWallet:




Quicker path to homeownership: If owning a home is a serious goal for you, buying with someone else can help make that reality on a shorter timeline. Two or more people can save up a down payment a lot faster than one. That’s less time waiting and more time building equity in a place that’s yours.


More purchasing power: With multiple incomes going toward the home purchase, you might be able to afford a nicer home or live in a more popular neighborhood. Sometimes teaming up means getting the home you actually want, not just the one you can barely afford on your own.


Easier loan qualification: Added income from more than one buyer can also help with your debt-to-income (DTI) ratio, which the lender will calculate based on all the borrowers.


Lower housing costs: Splitting up a mortgage payment multiple ways could maybe even make owning less expensive than renting. Plus, sharing costs can make repairs or renovations more manageable, too.




Things To Keep in Mind


If you’re considering going this route, there are some things you’ll want to think over. For starters, co-buying works best with people you trust and share financial goals with. So, before moving forward, make sure everyone agrees on how costs are split, who handles what, and what happens if one person wants to sell down the road.


That’s why a written co-ownership agreement can be a smart move. It keeps everyone on the same page and helps avoid headaches down the line. Think of it less like a legal formality and more like a game plan for your new investment.


Bottom Line


Affordability challenges are real, but they don't have to mean waiting indefinitely. Co-buying is helping some first-time buyers stop waiting and start putting down roots.


If you're curious whether it could work for your situation, let's talk. Reach out today and let's figure out your path to homeownership together.
 ]]> </description>
    <pubDate>Thu, 07 May 2026 10:20:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/the-secret-to-selling-fast-no-matter-the-market.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/the-secret-to-selling-fast-no-matter-the-market.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>The Secret To Selling Fast, No Matter the Market</title>
    <description> <![CDATA[ 



 


When you put your house on the market, you don’t just want it to sell. You want it to sell fast. But the thing is, nationally, it’s taking a little longer to sell lately. And that slowdown can feel frustrating if you want a fast process. Here’s what you need to realize.


In every market right now, there’s one clear exception:


Well-priced, well-presented homes are still selling, and it’s often faster than you’d expect.


If you can tap into that, you can still set yourself up to move quickly, too. Here’s how to get it done.


How Long It Takes To Sell Today


According to Realtor.com, homes are selling in about 52 days right now. That’s how long the process takes from the day it hits the market until closing day.


And while that may sound slow to you, it’s not slow. It’s normal.


That’s because it’s pretty much right in line with what it was during the last normal years in the market (see 2018-2019 in the graph below):


It just feels slow when you’re eager to move – or when you think back a few years to when homes seemed to sell almost instantly.


But here’s what matters most. The market is normalizing. Not at a standstill.


This is the norm for timing from start to finish. You may have an accepted offer in handeven faster than this.


Markets Where Homes Still Sell Quickly, Even Now


Zillow says the typical home will go “pending” or “under contract” in 19 days. Some homes even see it happen in as little as 7 days. It just depends on where you are – and how you prep your house.


So, don’t let the slowing pace of sales stress you out. Homes can still sell fast, if they’re positioned right.


Just to show you, here’s a quick look at some of the markets that are moving faster than the norm, according to Zillow (see map below). This’ll show you how different it can be based on where you live.


The key things you need to remember when looking at this visual:




It varies a lot based on where you live. Within the same state, individual neighborhoods or pockets may sell much faster than the norm.


Even in slower moving states, you can still sell quickly. As the map shows, in those places there are still homes that go under contract in as little as a week.




So don’t worry about if your state made either list. As Orphe Divounguy, Senior Economist at Zillow, says:


“The cream of the crop is still selling fast, even in markets that have slowed considerably. . .”


The Big Reasons Some Homes Sit, and Some Sell Fast


And here’s the big secret. While location can definitely play a role, it’s not just about location. It’s about strategy.


Today’s buyers are paying attention to condition. They’re comparing photos, upgrades, layout, location, and price. And they’re choosing homes that feel move-in ready and well worth the value.


The homes that check those boxes? They’re not sitting for long – no matter where they are.


As the Wall Street Journal (WSJ) explains:


“. . . some homes are still flying off the shelves. These houses are often in the Midwest or Northeast, where the lack of new construction keeps a lid on supply. Certain homes in other markets are selling quickly, too, often when a home is move-in ready.”


Because in any market – hot or not – if a home is overpriced, needs too much work, or just doesn’t meet current buyer expectations, it’s not going to sell. 


In this market, the sellers who win are the ones who get real about their house. They’re honest about how their home compares to other listings, realistic about price, and they work with an agent who truly understands today’s market and what it takes to sell.


When your agent knows how to price strategically, spotlight the strengths of your home, and move quickly when the market gives clear signals, that’s when the results follow.


Bottom Line


Today's housing market rewards the right strategy. Because even in a slower area, the homes that are priced realistically and positioned well are still selling – sometimes faster than you may expect.


Let’s connect if you’re ready to make yours one of them.
 ]]> </description>
    <pubDate>Wed, 06 May 2026 17:20:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/4-ways-to-give-your-offer-an-edge-this-spring.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/4-ways-to-give-your-offer-an-edge-this-spring.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>4 Ways To Give Your Offer an Edge This Spring</title>
    <description> <![CDATA[ 



 


Looking to buy a home this season? Here's what you should know. 


Buyers have more leverage today than they’ve had in years. There are more homes to choose from and, in many areas, sellers are more open to negotiation. 


But that doesn’t mean competition is gone completely. These days, it varies a lot depending on where you’re hoping to move. 


If you’re buying in a popular neighborhood, or in a market where there aren’t many homes for sale, you may still find yourself competing with another buyer.


And that’s especially true in the Spring. Here's how to stay one step ahead of any competition this season.


Why Your Best Offer Still Matters This Spring


According to experts at Zillow and Realtor.com, Spring is one of the busiest times of year to buy a home.


That’s because many buyers want to move now so they can settle in before the next school year. And when more buyers enter the market, competition naturally picks up. 


So, depending on where you’re buying, you may still need to move quickly and make a strong offer, even though the market overall has moderated. And that’s especially true if you find a home you really love.


This is what you need to know to make your offer stand out.


1. Lead with a Strong, Realistic Offer


It’s tempting to start low and negotiate up. And in some markets, that strategy can work. But if a home is priced well and getting attention, lowballing could hurt your chances.


Instead, focus on making an offer that reflects your local market. As Bankrate explains:


“There is no magic formula for an optimal home offer. Any offer will be heavily dependent on asking price and local market conditions . . . Your real estate agent will know the local market well and can advise what a competitive — but fair — offer will look like in your area.”


The goal is to make an offer that makes sense for you and stands out to the seller.  


2. Have a Plan for Competing Offers


If you’ve fallen in love with a home, it’s important to have a plan in case there’s competition from another buyer. One strategy your agent may discuss with you is an escalation clause, which Investopedia explains like this:  


“An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain ceiling, to compete with other bids.”


The key is knowing your budget and sticking to it. You don’t want to lose out over a small difference – and this can help prevent that. But you also don’t want to overpay.


Keep in mind that if the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. Your agent can help you weigh those risks and determine the best approach for your situation.


3. Keep Your Offer Clean


Price matters. But sellers also look closely at your offer’s terms. In some cases, a simpler, cleaner offer can stand out – even if it’s not the highest. As Redfin says:


“Sellers tend to want clean, straightforward offers with minimal strings attached. Keep your requests simple and focus on the essentials.”


Your agent can help you prioritize what matters most, so you’re not giving up things you need, while still making your offer as appealing as possible.


4. Be Flexible Where You Can


Sometimes, what helps your offer the most is understanding what matters to the seller. NerdWallet explains:


“As you prepare an offer, you tend to focus on what the seller has (a house) and what you want (their house). But you’ll gain a competitive edge by viewing the transaction from the seller’s eyes: What does the seller want?”


Does the seller need extra time to move out? Or do they want to move as soon as possible? Your agent can talk with the seller’s agent to find out what matters most. Flexibility here can make a big difference in how your offer is received.


Bottom Line


Today's market may be balancing out, but strong offers still matter – especially during the busy Spring season.


Curious how competitive things are (and what it’ll take to win) in our market? Let’s talk.
 ]]> </description>
    <pubDate>Tue, 05 May 2026 15:48:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/stay-or-sell-how-to-make-the-right-call-as-you-age.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/stay-or-sell-how-to-make-the-right-call-as-you-age.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Stay or Sell? How To Make the Right Call as You Age</title>
    <description> <![CDATA[ 



 


At some point, as you start thinking about the years ahead, this question tends to come up:


“Could I stay here long-term… or would it make more sense to move?”


It’s not always urgent. It often shows up in small moments, like going up and down the stairs, keeping up with the maintenance, or just thinking about what the next chapter of your life might look like in this home.


And for most people, the answer is simple. They want to stay.


The USC Leonard Davis School of Gerontology found about 90 of adults over 65 prefer to stay in their homes as they get older (see below):


But even if staying feels like the right answer, it’s still worth thinking ahead about what that might actually look like. That’s where the right agent can really help.


What You Need To Plan for If You’re Staying in Your Home


Aging in place is definitely possible. But it’s better if you have a plan. And here’s why. The home that once worked perfectly may need to change with you over the years. And it’s easier if you can anticipate those expenses.




Sometimes that means small updates: like adding grab bars in the shower.


Other times, you’ll have to make bigger decisions: like reworking layouts or moving key spaces to the first floor.




Some of those changes are going to be simple. Others can be a meaningful investment. And that’s why thinking about it early matters. Not because you need to decide anything right now, but because it gives you time.




Time to understand what your home may need.


Time to explore your options.


Time to find the right contractors.


Time to space out the expense of the upgrades.




According to ElderLife Financial, here's a rough baseline of what it could cost depending on what needs to be done (see below):


And don’t worry. If your heart is really set on staying, but the costs feel like a concern, it helps to know you have options. Depending on your situation, there may be financial assistance programs available, along with tools like home warranties to help manage unexpected costs.


Just remember, if you’re thinking about making updates, it’s always worth having a quick conversation before you start. A real estate agent can help you understand which changes tend to make sense for your situation and how they may impact your home’s value based on your local market.


When Moving Might Make More Sense


But staying isn’t always the best fit for every situation. According to Pegasus Senior Living:


“While most seniors hope to age in place, practical considerations sometimes make selling a home the wiser choice.”


Sometimes, it comes down to a simple shift: when the home that once made life easier, starts to make it harder.


That might look like:




Maintenance or yardwork that's starting to feel overwhelming


Stairs or layouts that are getting harder to manage day-to-day


Or needing more support or care or being too far from loved ones




And sometimes, it’s not about necessity at all. It’s about lifestyle. Some homeowners just don’t want to live through major renovations. Others are ready to simplify, downsize, or move somewhere that better fits this next chapter, whether that’s a smaller home, a 55+ community, or a place closer to family. 


For them, moving simply means making daily life easier.


Bottom Line


There’s no one-size-fits-all answer here.


Some people stay and make updates. Others move to simplify things. Either can be the right choice. The goal isn’t to pick one today. It’s to understand your options early, so when the time comes, you feel confident instead of rushed.


And if you ever want a sounding board to think through what the future could look like for you, let’s connect.
 ]]> </description>
    <pubDate>Wed, 29 Apr 2026 10:45:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/think-you-have-to-put-20-down-most-first-time-homebuyers-dont.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/think-you-have-to-put-20-down-most-first-time-homebuyers-dont.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Think You Have To Put 20 Down? Most First-Time Homebuyers Don’t.</title>
    <description> <![CDATA[ 



 


According to Google Trends, online searches for down payment information recently hit an all-time high. And that’s a clear sign more buyers are trying to figure out what they really need to save before making a move (see graph below):


If you’re wondering the same thing, you can always turn to the internet for answers. But a lot of the time, it’s better to ask a local expert. Because here’s what a pro would tell you.


The 20 Down Payment Myth


The idea that you need 20 down to buy a home is one of the biggest misconceptions around the homebuying process. And the data debunks the myth.


While there are benefits to putting that much money down, most first-time buyers put down far less.


Here’s why. Unless it’s stated by your lender, you typically don’t have to have a 20 down payment. There are even some loan options designed to help you get into a home with a much smaller upfront cost. As the Mortgage Reports explains:


“The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals. If you don’t have a large down payment saved up, don’t worry—there are plenty of options available, and you don’t need to put down the traditional 20 . . . many homebuyers are able to secure a home with as little as 3 or even no down payment at all . . .”


For example, FHA loans allow down payments as low as 3.5, while VA and USDA loans offer zero down payment options for qualified applicants, like Veterans.


And those options are just one reason so many first-time buyers are able to buy without a 20 down payment.


What Buyers Are Actually Putting Down


So, if buyers aren’t doing 20, how much do they actually put down?


According to the National Association of Realtors (NAR), the median down payment for first-time homebuyers is only 10. That’s half of what you probably expected.


That means if you’re aiming to save 20 because you think you have to, you may be setting a timeline that’s longer than necessary.  


And here’s some more good news. It’s not only that you may be able to buy with less money down than you thought, but there are also options to help you get to your down payment goal even faster.


Why You Should Look into Down Payment Assistance Programs


There are a lot of programs designed to help you save for a down payment – and they can make a big difference in how fast you hit your savings target. Unfortunately, buyers don’t realize how many there are, or that they may qualify for help.


Research from Realtor.com showsalmost 80 of first-time homebuyers qualify for down payment assistance (DPA), but only 13 actually use it (see chart below): 


And that’s another big miss holding would-be buyers like you back.


In the U.S., there are over 2,600 homeownership programs available, many offering significant financial support. As Down Payment Resource shares:


“With an average benefit of $18,000, down payment assistance (DPA) remains one of the most essential tools for addressing the nation’s affordability challenges. Programs continue to expand in scope, serving a broader range of incomes, property types and borrower needs, including first-generation, military and repeat buyers.”


Imagine how much further your savings could go with an extra $18,000 you can use to buy. In some cases, you may even be able to stack multiple programs, giving what you’ve saved an even bigger boost.


Bottom Line


The simple truth is: most first-time buyers don’t put 20 down. And if you’ve been waiting to buy until you have that saved, you may be setting a timeline that’s longer than necessary.


To find out what you really need to save and if you qualify for any help, connect with a trusted lender who can walk you through your options. You may be able to buy sooner than you thought.
 ]]> </description>
    <pubDate>Tue, 28 Apr 2026 10:10:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/rent-or-buy-the-real-tradeoff-most-people-dont-talk-about.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/rent-or-buy-the-real-tradeoff-most-people-dont-talk-about.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Rent or Buy? The Real Tradeoff Most People Don’t Talk About</title>
    <description> <![CDATA[ 



 


You’ve probably asked yourself lately: Is it even worth trying to buy a home right now? It’s a question a lot of people are asking.


With today’s home prices and mortgage rates, renting can feel like the easier path. In some cases, it might even seem like the only realistic option right now. And if that’s where you are, there’s nothing wrong with that.


But if you’re weighing the decision, there’s one part of the conversation that doesn’t get talked about enough.


It’s what each choice does for your future.


What Renting Really Gets You (And What It Doesn’t)


Depending on your situation, renting does have some advantages:




Lower upfront costs.


Less responsibility.


More flexibility to move when you want.




But even with those benefits, a Bank of America survey found 70 of aspiring homeowners worry about what long-term renting means for their future. And that concern comes down to one thing: you’re not building anything for your future. As Yahoo Finance explains:


“Paying rent doesn't build equity. You get a place to live, but no ownership stake, no price appreciation, and no asset to leverage for future borrowing or investment.”


So, while renting may feel easier, the flexibility you get comes at a cost.


How Homeownership Builds Your Wealth Over Time


On the other hand, owning a home is one of the most consistent ways people build wealth over time. Why? When you’re a homeowner, you gain something called equity. That’s the difference between what your home is worth and what you owe.


That equity grows with every monthly payment you make. It also gets a boost as home values go up through the years – and it adds up quicker than you may think.


Today, the National Association of Realtors (NAR) says the average homeowner’s net worth is43X greater than that of a renter:


The dollars in the visual don’t lie. On average, here’s how net worth compares:




Homeowners: $430k


Renters: $10k




And it’s not because homeowners make wildly different decisions day to day. It’s because over time, one path builds something, and the other doesn’t.


So sure, buying comes with some upfront costs and more responsibility. But it’s basically a savings account you can live in.


The Gap Is Growing Over Time


And here’s something else interesting. That net worth gap between renters and homeowners has been widening over time, not shrinking.


If you look back at the reports on net worth through the years, you can see the gap is growing as homeowners gain wealth and renters stay stuck in the rental trap (see graph below):


Even in 2025, when home prices were moderating, homeowners still gained even more ground. And that tells you something important:


When you can afford it and you’re ready for the responsibility, history shows buying is usually worth it in the long run. Because either way, you’re paying for someone’s mortgage and building someone’s net worth.


When you rent, it’s your landlord’s mortgage – not yours. But when you buy? Your monthly payments help build equity.


The question is: whose do you want to pay? Yours or theirs?


So, Should You Buy a Home Now?


The short answer is, it depends on your situation.


While the long-term benefits of buying are clear, that doesn’t mean the timing is right for everyone right now. And that’s okay. You should only buy a home once you’re ready and the numbers work for you.


But whether you’re looking to buy now or planning for the future, the first step is the same. You should have a quick conversation with a local real estate agent about your goals, timeline, and budget.


They can help you run the numbers and see what’s realistic. You may find buying is closer than you thought. And if not, you’ll at least know exactly what it will take to get there.


Because the sooner you have a plan, the sooner you can decide when it makes sense, instead of wondering if it ever will.


Bottom Line


Renting may feel more do-able today. But over time, it could cost you.


If you want to ditch renting and start building something for your future, it starts with a simple conversation. Let’s connect, talk about your specific goals, and explore your options – so you’re ready when the time is right for you.
 ]]> </description>
    <pubDate>Thu, 16 Apr 2026 12:03:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/getting-a-tax-refund-heres-how-it-can-help-you-buy-a-home.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/getting-a-tax-refund-heres-how-it-can-help-you-buy-a-home.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Getting a Tax Refund? Here’s How It Can Help You Buy a Home</title>
    <description> <![CDATA[ 



 


If you’re getting a tax refund this year, here’s something worth thinking about. That money could actually help you get closer to buying a home.


It may not be something you’ve factored into your plan yet, but it can give your savings a nice boost right when you need it most. And whether your refund is a few thousand dollars or more, there are some smart ways to put that money to work as you get ready to buy.


Your Refund May Be Even Bigger This Year


Let’s start with the good news. People are getting even more money back in their refunds than they did last year. The visual below uses data from the Internal Revenue Service (IRS) to show the average individual’s refund is 11.1 higher this year:


Of course, your exact refund will vary. But any extra money you get is a good thing, especially when affordability is still tight. 


How You Can Use Your Tax Refund


So, how can you put that money to work? Here are a few smart ways to use your refund when buying a home, according to Freddie Mac:




Put it toward your down payment. Data shows saving for a down payment is one of the biggest hurdles for first-time homebuyers. Using your refund can help you build that up faster. And the good news? You may not need to put as much down as you think.


Use it for your closing costs. Closing costs usually range from about 2 to 5 of the home’s purchase price. Using your refund here can make things feel a lot more manageable on closing day.


Lower your mortgage rate. You may have the option to buy down your mortgage rate. That means paying a little more upfront to get a lower monthly payment. If you’re looking for ways to make the numbers work a little better, this is something that could be worth asking about.




You Don’t Have To Figure This Out Alone


If you have a tax refund coming, it’s a great time to take another look at your homebuying savings. Maybe you’re almost at your goal and you can buy sooner than you expected.


A trusted real estate agent and lender can help you map out what you need, what your options are, and how to make the most of what you already have, including your tax refund.


Bottom Line


If buying a home is on your radar this year, don’t overlook your tax refund. It could be the extra push that helps you go from almost there to actually ready.


Want to see how far your savings could take you right now? Let’s talk and build a plan that fits your situation.
 ]]> </description>
    <pubDate>Wed, 15 Apr 2026 11:28:00 -0500</pubDate>
</item>
    </channel>
</rss>