Tuesday, January 15th, 2013

By Trulia | Published: Oct 14, 2009  

1. Go for the long haul

When looking for a home, search for one that you could see yourself living in for several years — at least five to seven years is ideal. Buying — and moving — to a new home takes a lot of time and effort, and can add up significantly in closing and moving costs, etc. Staying in place longer will help you avoid those added expenses. Plus, the extra time spent in your home could be just enough to help you ride out a downturn in the real estate market.

2. Leave room to grow

Aim for a home that can adapt to your needs as your life changes, say, if you have a new baby, or Junior moves back in after college. If you can’t afford a place that’s large enough to meet your anticipated future needs now, look for one that will allow you to build on later on.

3. Be flexible

Consider a place with rooms that can serve multiple functions, so the home remains highly functional for you through the years. For example, an open-floor-plan-style home is very adaptable. A kitchen that overlooks a family room is helpful when one’s children are young (you can cook while watching the kids), while such a kitchen is also great for entertaining your friends once the kids leave the roost.

Read The Full Article Here

 

Monday, January 14th, 2013

With 2012 in the books, we’re starting to see some 2013 activity trickle in. Watch for continuations of last year’s trends: less inventory, strong buyer activity and firmer prices. It’s hard to believe spring is just around the corner, but would-be spring sellers are noticing the changes that have taken place. It’s a much less scary time to sell a home. Foreclosure activity will also be a key metric to watch. For the current cycle, here’s what the data shows.

In the Twin Cities region, for the week ending January 5:

• New Listings decreased 34.6% to 832
• Pending Sales increased 12.7% to 594
• Inventory decreased 31.1% to 12,000

For the month of December:

• Median Sales Price increased 16.2% to $168,452
• Days on Market decreased 23.4% to 108
• Percent of Original List Price Received increased 3.5% to 93.8%
• Months Supply of Inventory decreased 42.0% to 2.9

Click here for the full Weekly Market Activity Report from the Skinny

Posted in Weekly Market Activity Reports |
Monday, January 14th, 2013


With 2012 in the books, we’re starting to see some 2013 activity trickle in. Watch for continuations of last year’s trends: less inventory, strong buyer activity and firmer prices. It’s hard to believe spring is just around the corner, but would-be spring sellers are noticing the changes that have taken place. It’s a much less scary time to sell a home. Foreclosure activity will also be a key metric to watch. For the current cycle, here’s what the data shows.

In the Twin Cities region, for the week ending January 5:

  • New Listings decreased 34.6% to 832
  • Pending Sales increased 12.7% to 594
  • Inventory decreased 31.1% to 12,000

For the month of December:

  • Median Sales Price increased 16.2% to $168,452
  • Days on Market decreased 23.4% to 108
  • Percent of Original List Price Received increased 3.5% to 93.8%
  • Months Supply of Inventory decreased 42.0% to 2.9

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |
Monday, January 14th, 2013

Decreased supply, strong demand and higher prices are among the encouraging developments in 2012 that make the case for continued recovery in 2013. Consumer purchase demand increased organically, absent any government incentives. As the active supply of homes for sale fell to 10-year lows, absorption rates improved to levels also not seen since 2003. Multi-decade low interest rates and record housing affordability resulted in a 16.9 percent increase in home sales for the 13-county metro.

2012 by the Numbers

• Sellers listed 65,914 new homes on the market, a modest 4.3 percent decrease from 2011 and a 10-year low.
• Buyers purchased 48,641 homes, up 16.9 percent from 2011 and the highest figure since 2006 (783 units shy).
• Inventory levels dropped 31.8 percent from 2011 to 11,875 units, the lowest level in 10 years.
• Months Supply of Inventory dropped 42.2 percent to 2.9 months.
• The Median Sales Price of closed sales was up, rising 11.9 percent to $167,900.
• Cumulative Days on Market was down 20.6 percent to 117 days, on average.
• Lender-mediated properties made up a smaller share of overall activity
• 34.6 percent of all New Listings were lender-mediated (either foreclosures or short sales), down from 41.9 percent in 2011 and 42.6 percent in 2010
• 37.3 percent of all Inventory was lender-mediated, down from 44.4 percent in 2011 and 47.4 percent in 2010
• 39.7 percent of all Closed Sales were lender-mediated, down from 50.0 percent in 2011 and 47.9 percent in 2010

Wednesday, January 9th, 2013

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Andy Fazendin (2012 President-Elect, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

 

Posted in Monthly Skinny Videos |

User Registration

Forgot Password?
Back To Login

Enter E-mail: