For many veterans, buying a home with a VA loan is one of the most rewarding benefits of their service. Not only does it open doors to homeownership with little to no down payment, but it also offers competitive interest rates and more flexible credit requirements. So, what’s the current market like for VA buyers in Grand Forks? This fall, you’re in luck. The real estate landscape is shifting in ways that could make buying a home easier than it has been in years.
The State of the Grand Forks Market in Fall 2024
As of October 2024, the Grand Forks housing market has seen moderate appreciation. The median home price in Grand Forks is $299,085, which reflects a steady annual growth rate of 3.58% over the past year. However, compared to national averages, appreciation rates in Grand Forks are lower, offering an affordable entry point for VA buyers (NeighborWho)(NeighborhoodScout).
What’s more encouraging is the slight cooling in the market. Homes are sitting on the market longer, which means buyers, including those using VA loans, have more time to make decisions without the intense competition seen in previous years.
VA Buyers’ Advantage: Why Now is the Time to Move
For veterans, this increase in inventory and homes taking longer to sell can be a huge advantage. When sellers face more competition, they’re more likely to entertain VA loan offers. In a hot market, some sellers were hesitant to accept VA loans due to perceived delays in the approval process, but with more homes available, you as a VA buyer hold more negotiating power.
Additionally, mortgage rates are at a two-year low, which is boosting buying power across the board. For VA buyers, this means even more affordable monthly payments, allowing you to get more house for your money without breaking the bank. VA loans already offer competitive interest rates, so with this market shift, it’s a win-win for veterans looking to settle in Grand Forks (NeighborhoodScout).
The Veteran Experience: My Own Journey and Client Success Stories
As an Air Force veteran, I know firsthand how daunting it can feel to move from one place to the next without actually knowing what your new home will feel like. Sure, you can see photos, do video walkthroughs, or rely on an agent’s description, but nothing really compares to standing in the space and getting that “feel” for yourself.
That’s why I make it my mission to really understand my clients—their likes, dislikes, and overall vibe—so I can do my best to match them with a home that feels like theirs, even if they’re halfway across the country and only seeing it via FaceTime or text. Recently, I worked with a military couple relocating to Grand Forks, and knowing they had worked so hard just to get here and that their home was waiting for them upon arrival really meant a lot to me. It’s these moments that remind me why I love what I do.
Ready to Take the Next Step?
If you’re a veteran thinking about buying a home in Grand Forks, now is the time to act. With more homes available and lower mortgage rates, there’s a unique window of opportunity for you to capitalize on the benefits of your VA loan.
Need help navigating the process? I’m here to guide you every step of the way. Whether you’re relocating to the area or simply looking to move up in the local market, I’d be honored to help you find your next home. Let’s talk about how we can make the most of this market shift together. Find my contact information here!
