Real Estate Evolution: Navigating Today's Housing Market

This episode dives into the ever-evolving world of residential real estate. A market that impacts nearly everyone, whether you’re buying, selling, or just trying to understand what’s going on with home prices, interest rates, and inventory.

Minnesota realtors Kimm and Jesse Pastrana are a husband-and-wife team and the founders of Good Move Realty. As successful real estate professionals and entrepreneurs with decades of experience, they have a deep understanding of what it takes to thrive in a shifting housing landscape.

Kimm and Jesse discuss how they got their start in real estate, what’s driven their success, what trends they’re seeing in today’s housing market and advice for new home buyers.

Episode Transcript

Bill Von Bank (00:00):
The Growing Destinations podcast is brought
to you by Experience Rochester.
Learn more about Minnesota'sthird largest city, which is
home to Mayo Clinic and featureswonderful recreational and
entertainment opportunities, byvisiting
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Jesse Pastrana (00:16):
A good agent is going to educate you, not just
sell you.
You need someone who will guideyou, protect your interests and
help you stay grounded withemotions.
You know when emotions run high, because it's a big investment
that you might go through justonce in a lifetime.

Kimm Pastrana (00:35):
I love the AI aspect.
It's really been able to helpus enhance our listings to
present them well thephotography, the virtual staging
, the compelling wording forlistings.
You know it'll be interestingto see what new innovation comes
up.

Bill Von Bank (00:55):
Welcome to the Growing Destinations podcast,
where we take a deep dive intodestination development and
focus on a wide range of topicsfrom tourism and entertainment
to economic development andentrepreneurism and much more.
I'm your host, bill Von Bank.
Today, we're diving into theever-evolving world of
residential real estate, amarket that impacts nearly

(01:18):
everyone, whether you're buying,selling or just trying to
understand what's going on withhome prices, interest rates and
inventory.
Joining me are MinnesotaRealtors, kimm and Jesse
Pastrana, a husband and wifeteam, and the founders of Good
Move Realty.
As successful real estateprofessionals and entrepreneurs
with decades of experience, theyhave a deep understanding of

(01:38):
what it takes to thrive in ashifting housing landscape.
In this episode, we'll talkabout how they got their start
in real estate, what's driventheir success, what trends
they're seeing in today'shousing market and advice for
new home buyers.
Kimm and Jesse Pastrana,welcome to the Growing
Destinations podcast.

Kimm Pastrana (01:55):
Thanks, bill, thanks.

Bill Von Bank (01:57):
Let's start with your story.
You've been doing this a longtime.
How did each of you get intoreal estate at the same time?
Or walk us through that journey.

Kimm Pastrana (02:05):
We started young.
I was 24 when I got my realestate license and actually got
my license.
It sounded like it would be afun job to do and we wanted to
build something for ourselvesand build a business and help
people, so it sounded like agreat fit.
Jesse joined me a couple ofyears later.
I'm a couple of years olderthan him, so he was also 24 when

(02:25):
he started.

Jesse Pastrana (02:26):
Right right.
I saw the need in the Hispaniccommunity for someone to be able
to speak Spanish at that time.
So Kim mentioned to me hey,maybe you should get into this
because it's a big need for that.

Bill Von Bank (02:38):
So I jumped in and I've been on a sense and you
started working for someoneelse before you became your own
brokerage firm, correct?

Kimm Pastrana (02:47):
Correct, we worked for another broker for
six years, I think it was yeahsomething like that.

Bill Von Bank (02:53):
What was the motivation to jump in and say
let's do this ourselves?

Kimm Pastrana (02:57):
You know, I think we wanted to expand and build
and kind of establish the rulesourselves and expand into the
Spanish-speaking market as wellas traditional market, and so we
just jumped in and glad we did.
We've met a lot of great peopleand built a lot of great
relationships.

Jesse Pastrana (03:14):
Right, we were actually learning the business
and building the business at thesame time when we did that, so
it took some time, but I thinkwe got it.

Bill Von Bank (03:24):
Was there a defining moment for each of you
or experience early on that toldyou that real estate was right
for you?

Jesse Pastrana (03:31):
You know, in myself I saw the need, the need
for someone, especially in theHispanic community.
There was no one around whospoke Spanish at that time.
The Hispanic community wasgrowing and, like I said, Kim
mentioned to me hey, there's abig need for that time.
The Hispanic community wasgrowing and, like I said, Kim
mentioned to me, hey, there's abig need for that community.

(03:53):
Maybe you want to give it a try.
So I got into it.
I loved it.
I saw the people's thankfulnessfor someone to be able to help
them in their own language andthat just got me motivated and
just kept going.

Bill Von Bank (04:02):
How about you, Kim, a defining moment for you?
That said, yeah, I can do this.

Kimm Pastrana (04:07):
You know just that feeling that you get when
you help people achieve theirdreams.
It's just really.
You know.
Every time you'd see somebodyjust smiling ear to ear at a
closing table, you knew you'reon the right path.

Bill Von Bank (04:18):
Working as a couple in business can be both
rewarding and, I imagine,challenging.
How do you complement eachother in running the brokerage?

Kimm Pastrana (04:26):
Well, Jesse is definitely more of a systems
person and, I'd say, more of abig picture person.
So that's helpful and we stillwe don't have it completely
figured out together on, youknow, big picture versus details
, but it uh, it works for us.

Jesse Pastrana (04:41):
Yeah, we complement each other that way,
I guess.

Bill Von Bank (04:43):
What were some of the early challenges you faced
when launching your business andhow did you overcome them?

Kimm Pastrana (04:49):
You know, I would say when we were learning the
business, while we were buildingit and we've gone through a lot
of market shifts as well andlearning how to be agile through
those market shifts, and that's, I guess, one of the key keys.

Jesse Pastrana (05:04):
Be able to adjust to whatever the market at
that time you're facing isreally one of the biggest things
that I think have enabled us tokeep moving in the market for
so long, and you've been doingthis a long time and there have
been some big market shifts.

Bill Von Bank (05:18):
I think back to probably 2008, 9, 10 timeframe.
Was that the toughest time foryou in this biz, or were there
other challenges?

Kimm Pastrana (05:28):
You know there's been other challenges.
Interest rates are always playa role.
That mortgage crisis wasdefinitely something to live
through and now we've got ourown challenges in this market.
But there's opportunities atthe same time.
Higher rates but there isslightly more inventory, but we
still have a housing shortage.

Bill Von Bank (05:47):
That was leading into my question about the
current state of real estate.
You often hear people say, oh,it's a buyer's market or it's a
seller's market.
Jesse, where are we in thatplane?
Are we a buyer's market,seller's market or a combination
?

Jesse Pastrana (06:00):
It's still a seller's market.
I think it's shifting just alittle bit versus how it was
maybe two or three years agowhen it was really a seller's
market.
I think it's adjusting just alittle bit but it's still really
a seller's market and I thinkKim jumping on that but I think
it's a little bit moreopportunities for a buyer right
now versus you fighting with 30other buyers.

(06:23):
Maybe now you're fighting fivebuyers, but it's still a good
market.

Bill Von Bank (06:28):
How are the interest rates?
We're right now in summer of2025.

Kimm Pastrana (06:33):
Well, right, Rates are still up and prices
are up.
So entering the real estatemarket for first-time home
buyers can be a challengebecause the payments are high,
and so that's really one of thekeys is finding out what your
pre-approval is, what you'recomfortable for as far as the
budget goes, and then reallybeing familiar with those

(06:54):
numbers, Because with the higherprices for example, Shakopee,
Minnesota those numbers becausewith the higher prices, the
median, for example, Shakopee,Minnesota $405,000 is the median
sale price right now and withhigher rates, that makes a
significantly higher housepayment.
And so you have to know whatyou're comfortable for and look
at the right houses that fityour budget.

Jesse Pastrana (07:11):
First time home buyer is.
One of the things that I liketo tell them is you know, try to
get pre-approved right away.
Get to know your numbers.
You know, try to getpre-approved right away.
Get to know your numbers.
You know, get to know yourbudget.
There's always need.
You got to put your needs overyour want.
Make sure you choose a homethat fits your lifestyle,
commute, long-term goals, etcetera.

(07:31):
And also try to work with theright people.
You know a good agent is goingto educate you, not just sell
you.
You need someone who will guideyou, protect your interests and
help you stay grounded withemotions.
You know when emotions run highBecause it's a big investment

(07:51):
that you might go through justonce in a lifetime.
You know, hopefully more thanthat, but just feel comfortable
who you're working with.

Bill Von Bank (08:00):
I guess Are you primarily focused on the
Minneapolis-St Paul market area?

Jesse Pastrana (08:05):
We're really on the Twin Cities.
Our office is located in Dinah,but we really go whatever we
need it.
Rochester, I sold out ofRochester, I've gone all the way
up to.
I'm trying to figure out what'sthe farthest north.
I've gone.
But you know really whateveryou needed is where you go, but
you know primarily the TwinCities.

Bill Von Bank (08:25):
Are there any trends or patterns emerging that
potential buyers or sellersshould be aware of over the next
12 months?

Kimm Pastrana (08:31):
Well, I think one of the things that has changed
used to be people think theycould make an offer and
negotiate the offer out.
In the current market beingit's still a seller's market
putting that best offer forwardfrom the beginning.
You're more apt to get theoffer if you're in multiple
offers, and AI is having animpact on real estate as well,

(08:55):
and so it's been great with thephotography and the videos.
But sometimes houses aren'treally quite what they look at.
So I would say still look atthem if they're not as pretty
online, because they might begreat, and some of the ones that
look really great online mightbe not quite as good.
So keep your mind open to theproperties you select to look at

(09:17):
.

Bill Von Bank (09:17):
How are you using AI in how you sell?

Kimm Pastrana (09:21):
We are, yes, and it's really been great in
listing descriptions and we useit in a lot of different areas
virtual staging, floor plans wecan get floor plans really
easily and quickly now, sothere's a lot of tools that we
are currently using with AI.

Bill Von Bank (09:38):
You've built a strong reputation in a
competitive industry.
How have you done that, jesse?
I know you have a from anoutreach standpoint.
You have a weekly radio show,correct?

Jesse Pastrana (09:48):
We do.
We have a Wednesday mornings,8.40 am Spanish radio station
and 95.7 La Raza, where we tryto educate buyers and sellers
regarding real estate.
Where we try to educate buyersand sellers regarding real
estate, try to keep themrelevant of what's going on in
the market so they can make aneducation decision when it's
time to buy or sell, and we justtry to put a lot of information

(10:10):
out there.
I try to have guesses in myshow what I can have
professionals talk about, fromcredit to taxes to getting
pre-approved, just to keeppeople informed basically, how
do you approach clientrelationships in a way that
leads to long-term success andreferrals?

Bill Von Bank (10:29):
Obviously, you just spoke to the radio program,
but what are some other waysyou do that?

Kimm Pastrana (10:32):
You know, I think we approach real estate with a
service mentality and we'rethere to serve our clients and
help them through the process,each step of the way.

Jesse Pastrana (10:47):
The selling part is on the house, but truly the
job is servicing our clients.
Building long-liferelationships really is what has
helped us.
I think you know you don't justmeet somebody and help them buy
or sell and call it a day.
You really come to be, most ofof the times even friends with
them.
I know we have had, have helpedtheir kids and even their

(11:12):
grandkids now purchase homes.
So that kind of tells you thatpeople really like having a
relationship, not just atransaction, with us.

Bill Von Bank (11:17):
Treat somebody well and it has long lasting
impact.
Correct In what ways have youhad to adapt your approach or
marketing as the real estatelandscape has shifted over the
years?
Obviously, we're seeing newtechnology in play with AI, but
what others are some of the waysyou've shifted as the market
has shifted?

Jesse Pastrana (11:34):
I think it's just trying to stay relevant
with the market.
Again, just keep peopleinformed using social media,
using snail mail, having them abirthday car multiple touch
points exactly.
Just be an author for them andlet them know that you still,
even though they bought a houseor sold a house with you five,

(11:54):
ten, twenty years ago, you'restill there to talk to them and
have conversations and havelunch or even coffee, just to
catch up.

Bill Von Bank (12:03):
What do you see on the horizon for the real
estate market?

Kimm Pastrana (12:07):
Well, rates are really going to always have a
major impact on what's happeningwith the market.
Availability of housing is areally important issue, and we
hear a lot of our politicianstalk about availability of
housing, and so there's a needfor rental.
But most people want to own ahome, and so our legislators

(12:27):
helping us in the industry so wecan create more housing.
Keeping an eye on rates isgoing to have a big impact.

Bill Von Bank (12:33):
What type of homes are maybe missing from the
market right now?

Kimm Pastrana (12:36):
First time home buyer homes, so a lot of new
construction.
You know the entry level priceis usually around $450,000,
$500,000, $600,000, which isdifficult for a first-time home
buyer to enter for a singlefamily property.
There are some townhomesavailable for lower price and
that's a fit for some people andsome people it's not a fit for

(12:57):
that's a nuanced subject.
So there's a lot of issues thatgo into that.
And of course, housing costs tobuild new housing is another
factor.

Bill Von Bank (13:05):
What innovations or changes in the industry are
you most excited about?

Kimm Pastrana (13:09):
You know I love the AI aspect.
It's really been able to helpus enhance our listings, to
present them well thephotography, the virtual staging
, the compelling wording forlistings.
It'll be interesting to seewhat new innovation comes up.

Jesse Pastrana (13:29):
Yeah, AI is really make a big changes on a
lot of the aspects of the realestate.
A lot of people worry that AIis going to take our jobs, but I
think as long as you use AI tostep on top of the competition,
it's actually going to be waybetter.
It's a tool.

Bill Von Bank (13:49):
It's a tool.
You joined the real estateindustry, Jesse, as somebody who
felt like there was a need tohelp the Hispanic population.
Do you have more competitionnow?
Do you still see that that's abig part of your business?

Jesse Pastrana (14:02):
I do.
I do Now that funny you talkabout that.
But that market has actuallychanged a lot.
In the beginning it was a lotof first-generation Spanish
speakers who needed help.
Now you're starting to seesecond, third generation who not
necessarily need the Spanishpart anymore because you know

(14:22):
they all speak English just fine, way better than me.
But they still want to havethat connection somehow, someone
they can maybe relate to.

Bill Von Bank (14:33):
How are you preparing Good Move Realty for
continued success in a changingmarket?
Crystal ball here, I guess.

Kimm Pastrana (14:40):
Right, I wish I had the crystal ball.
Well, continuing both Jesse andI have taken multiple classes
on AI and staying on top of thatgame so we can continue to
technologically advance and then, but keeping that heart of a
teacher attitude toward ourclients and that service
orientation.

Bill Von Bank (14:59):
When you look back at your decades of doing
this and most of those have beenas owners did you ever think
you'd be in this business thislong?

Kimm Pastrana (15:09):
Yeah, I don't even think we doubted we would
be.
I think that we just put oureye on the target.

Jesse Pastrana (15:14):
I guess I never saw myself doing anything else,
and no doubts after some badeconomic downturns or changes in
the industry.

Bill Von Bank (15:22):
You just have to be flexible.

Jesse Pastrana (15:25):
You have to adjust.
But whatever market is outthere, you just have to go with
the flow as they say You've bothdone great in this industry.

Bill Von Bank (15:34):
I want to thank Kim and Jesse Pastrana from Good
Move Realty for your time todayand thank you for being our
guests on the GrowingDestinations podcast.

Jesse Pastrana (15:42):
Thanks, Bill.

Bill Von Bank (15:43):
Thank you for tuning in to the Growing
Destinations podcast and don'tforget to subscribe.
This podcast is brought to youby Experience Rochester.
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