Jay's Spring Sports Update
Dear friends,
Spring is in the air, and I hope this finds you well. As a young boy, I remember watching the Twins win the World Series in both 1987 and 1991. For the past 30+ years, I've been dreading that the dream of having a World Champion "home team" to cheer for peaked as a 12-year-old.
As I'm writing this, the Timberwolves are up 2-0 against the Suns and I'm incredibly optimistic that "this is the year." It's worth noting that Game 6 tickets are not available to purchase as of today, so maybe the NBA knows the outcome of the series in advance?
If you follow the Wolves, you know Glen Taylor "had" a deal to sell the team to A-Rod and Marc Lore over a 3-year window. The buyers struggled with coming up with money and the deal didn't close. They may have to settle as Limited Partners now. Mediation is in July!
Should I stay or should I go now?
If I go, there will be trouble and if I stay it will be double!
If A-Rod and Lore are successful, the concern is they move the team to another market (before the Wild there were the North Stars). My gut tells me that's why Glen's not selling!
Speaking of selling, a recent poll of home sellers indicated there were 4 drivers for selling. Sellers wanting a tax-free profit led the way at 24.4%. A change in lifestyle accounted for 23.7%, followed by "more space" at 23.4% and "less space" clocking in at 22.9%.
I've heard from many clients that are struggling to make a move as they are locked in at a super low rate right now and don't want to give that up. Is getting a 3rd-stall garage and a finished basement worth doubling your payment? For many, it's not. For others, it is!
Talk little, listen much.
A mentor once said,"You were both with two ears and one mouth, use them proportionally."
Fortunately, Freddie Mac has been listening to the market and may soon be offering fixed-red 2nd-mortgage options that will allow homeowners the opportunity to unlock their equity for home improvements and debt consolidation and keep their 3% mortgage. Stay tuned!
That's it for now! If you're in the mood to talk about buying and selling real estate, potential trades for KAT, or fun new restaurants to check out, give me a call, I'd love to hear from you, and if you hear of anyone looking to buy a home this spring, have them call me too!
