Monday, January 28th, 2013


The best real estate professionals leverage the power of data to deliver excellent value and real market understanding to customers. With the exceptional tools at their disposal, they can help buyers and sellers understand market trends and make important decisions. Real estate is “hot” again, even during the winter months, but nobody is predicting a rocket ship rise. It helps everybody if this market recovery incline is smooth and steady, like the gentle flow of a hot air balloon. Here are the numbers for this week.

In the Twin Cities region, for the week ending January 19:

  • New Listings decreased 1.6% to 1,077
  • Pending Sales increased 17.4% to 822
  • Inventory decreased 31.6% to 12,197

For the month of December:

  • Median Sales Price increased 15.9% to $168,000
  • 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 40.0% to 3.0

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

Posted in Weekly Report |
Wednesday, January 23rd, 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 (2013 President, Minneapolis Area Association of REALTORS®) and Cari Linn (2012 President, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Posted in Monthly Skinny Video |
Wednesday, January 23rd, 2013


The first full week of 2013 market data looks a lot like most of 2012 did. But let’s go beyond the obvious. Consider this: Americans formed substantially more new households in 2012 than we built, which is partly responsible for the ongoing declines in active listings. Our population continues to expand from both natural reproduction and in-migration. But builders and lenders lacked the confidence and risk appetite to build in larger volumes. Unlike our sluggish jobs recovery, this imbalance actually stands to further fuel our fledgling housing recovery. If only all those new households could secure adequate employment, we’d be off to the races.

In the Twin Cities region, for the week ending January 12:

  • New Listings decreased 8.0% to 1,120
  • Pending Sales increased 4.3% to 722
  • Inventory decreased 31.7% to 12,123

For the month of December:

  • Median Sales Price increased 15.9% to $168,000
  • 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 |
Tuesday, January 22nd, 2013

The first full week of 2013 market data looks a lot like most of 2012 did. But let’s go beyond the obvious. Consider this: Americans formed substantially more new households in 2012 than we built, which is partly responsible for the ongoing declines in active listings. Our population continues to expand from both natural reproduction and in-migration.

But builders and lenders lacked the confidence and risk appetite to build in larger volumes. Unlike our sluggish jobs recovery, this imbalance actually stands to further fuel our fledgling housing recovery. If only all those new households could secure adequate employment, we’d be off to the races.

In the Twin Cities region, for the week ending January 12:

• New Listings decreased 8.0% to 1,120
• Pending Sales increased 4.3% to 722
• Inventory decreased 31.7% to 12,123

For the month of December:

• Median Sales Price increased 15.9% to $168,000
• 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 |
Tuesday, January 22nd, 2013

By Brendon DeSimone

After years of dead open houses, price reduction after price reduction and failed attempts to sell homes, many real estate markets are picking up. This could be welcome news to someone who has been forced to have kids share a bedroom, suffer through a long commute or any number of reasons why folks would want to sell their home. Even though sales activity is up, sellers still must be ready to do what it takes to get their home sold. It’s still not the good old days. Buyers continue to be cautious and don’t want to make a bad decision. It’s more important than ever to do what it takes to work with potential buyers and prepare as best you can to get your home sold.

Here are five mistakes that serious sellers must avoid when going on the market today.

1. Not taking your first buyer seriously.

Ninety percent of the time, your first buyer is your best buyer. Real estate agents everywhere will tell you that they have seen this happen time and again. Generally speaking, the potential buyer who makes the first offer is highly motivated and ready to do business. The first offer might be lower than you’d like, but that’s what negotiations are for.

You can hold off in hopes of better offers, but many times properties sit on the market too long growing “stale” because the seller didn’t work with the first buyer. Three months later, the seller ends up taking 5 percent less than the first offer they received. By this time, that first buyer has already bought and moved on. The seller is kicking themselves for not making it work.

2. Offering buyers credits for work you’d rather not do.

Do your back steps have dry rot? Do you know of a leaky faucet and a few windows that won’t open or close properly? Does the HVAC system act up sometimes? Then invest the time and money needed to make your home as problem-free as possible before you put it on the market.

Buyers are busy, too. They don’t want to deal with repair or maintenance work after they close. What they will do is call out these faults, either with a low offer price or in asking for credits after their property inspection.

Read The Full Article Here

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