Home Sweet Home: Minnesota, The Real (E)state

Photos courtesy of Ryan Weyandt
Photos courtesy of Ryan Weyandt

How hard can it be to find an affordable home in 2023? Right? Shouldn’t it be more convenient to begin the process of homeownership since the first quarter of the year typically results in price drops? Well, sit tight because it’s about to get REAL!

Who better to ask about the sweet, sour, and in-between of real estate than Ryan Weyandt, the dynamic and personable CEO of Real Estate Alliance? Real Estate Alliance is an organization that provides support, resources, and services to real estate professionals and businesses. The LGBTQ+ Real Estate Alliance was established in June 2020 by prominent members of the real estate industry. A group of influential real estate experts and allies, along with members of the LGBTQ+ community, came together to form a new presence in the real estate sector. According to their website, “The Alliance is dedicated to enhancing the professional lives of our members while providing consumers with the proper resources to assist in buying, selling, and enjoying their homes. “

Weyandt was born and raised in the south metro area of the Twin Cities. A graduate of Farmington High and an undergraduate at University of St. Thomas and St. Catherine University. Although drawn to the energy and excitement of Minneapolis, Weyandt ultimately found that Saint Paul was the perfect fit for him and his family.

Minnesota’s housing market includes an increase in demand for larger homes, a preference for homes with outdoor spaces and modern amenities, and a growing interest in sustainable and eco-friendly homes. Additionally, the growth of remote work has also led to an increased demand for homes in rural and suburban areas, as people seek out more spacious living arrangements outside of the city. These trends may continue to evolve as the market and consumer preferences change over time.

Weyandt shared a few tips in regard to the potential that 2023 has for the future of the Housing Market. He mentions that “Marry the house, date the rate” is a phrase that is becoming popular. This means that “–home prices are starting to normalize again and the $50-70k cash that folks were paying over the list price six months ago, isn’t really a thing anymore.” This is simply due to the possibility of the influx of cash that buyers blindly invested; and the hopes of a profitable ROI. Numbers are beginning to level and this aids in the appraised value becoming the listed value. This is amazing.

This is an appreciated lesson to buy within your needs. Yes, that house you want is BEAUTIFUL! But are you willing to “date the rate”? With the lack of inventory in the $300k price range there remains a persistent challenge in the Minnesota housing market over the past five years. This is the most sought-after price point, but homes in this range are scarce and tend to sell quickly. Despite this trend, the market is favorable for buyers seeking higher-priced homes as there is less demand in this segment. Realtors can help these buyers negotiate a great deal on a home in this market. However, buyers must consider their long-term goals as the resale value of high-rise condos may not be as attractive as homes with yards and property once inventory normalizes. The timing of this normalization is uncertain.

Weyandt’s experience in Real Estate has proven his success time and time again. Leaders who understand patterns early, prove to get results time and time again. He explained that although it is important to stay aware and in the now about advancement, it can be difficult to keep up. Differences present us with opportunities. By utilizing effective communication, we can effectively navigate these opportunities. I understand that not everyone will align with me or my ideas and that’s perfectly fine. However, it’s important to remember that when communication breaks down, these differences can quickly escalate into deeper divides that become increasingly difficult to resolve. Weyandt takes a great deal to learn and get to know people as a homeowner, buyer, and or seller.

What we can take from the Real Estate Alliance’s CEO is that this industry is dynamic and ever-evolving with a multitude of opportunities and challenges. From understanding the housing market trends to making an informed decision while buying or selling a property, it is essential to be aware of the latest developments and insights. With the current market conditions in Minnesota, it is crucial to study the demand-supply dynamics and be conscious of the price points that are the most in demand. With the right approach and the help of a professional realtor, home buyers can find a great deal on their dream home.

It’s also important to remember that the real estate market is not just about buying or selling property, it’s also about building relationships and navigating differences. So, take the time to understand each other’s perspectives, and work towards a mutually beneficial outcome.

The LGBTQ+ Real Estate Alliance is a non-profit corporation in Minnesota and received official recognition from the IRS as a 501(c)6 organization in 2020. The mission of the Alliance grows stronger every day to continue to protect and provide access and opportunity to members of the LGBTQ+ community.

If you would like to stay in the loop with Real Estate Alliance, please visit their website at: https://realestatealliance.org/about/

Check them out and tell a friend to tell a friend!

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