Daryl Ball. The owner of Home Resource Group Remax Advantage Plus is a guest of today's KDHL AM Minnesota program.

We talked about various topics. One of the more interesting information revealed is that he told us that Faribault's house prices have risen by 23% from October 2020 to October 2021.

I asked if it was unprecedented. His answer was: "I must believe this is unprecedented. I have never seen a jump like this before. Normally, a healthy market grows by 2% or 3%."

Bauer said that such growth is, "Really unhealthy. It is unsustainable. The Faribault market has been dead for many years. It was around 2007. About six or seven years ago, Faribault recovered from there. There are many places that need it. Make up, but now we are beyond the point of making up for that market. We kind of predict that things will happen next year or a year and a half."

Interest rates are still very low. Bauer shared: “We just processed a mortgage for one of my clients last week. The VA (Veterans Administration) of 2.75% provided him with a zero down payment mortgage. This is seen in loan programs. Whether it is traditional, we often see 3% or less."

"You get a U.S. Department of Agriculture (U.S. Department of Agriculture) rural development type loan, and they have been below 3%." Bauer added: "Anyone who has a good job and has been taking care of his credit for many years can now Become a homeowner."

Bauer will answer any non-obligated real estate questions on 952-240-5773.

The podcast of today's show is as follows.

This is very interesting to read.