Monday, September 10th, 2012

Signals. They’re everywhere. From the flow of traffic on Main Street to the movement of electrons inside a microchip, we take our cues from trusted indicators. Recently, housing data has been signaling increased momentum toward recovery. It doesn’t really matter what signals you’re watching either. From new starts, existing sales and prices to market times, seller concessions and the supply-demand balance, all signals point to healing. It won’t necessarily be quick nor felt evenly across all cities or states. But the trend is your friend. And our friend is signaling a thumb’s up.

In the Twin Cities region, for the week ending September 1:

  • New Listings decreased 10.1% to 1,171
  • Pending Sales increased 13.3% to 1,025
  • Inventory decreased 30.0% to 16,676

For the month of August:

  • Median Sales Price increased 15.5% to $179,000
  • Days on Market decreased 24.1% to 107
  • Percent of Original List Price Received increased 4.2% to 95.1%
  • Months Supply of Inventory decreased 42.7% to 4.1

Click here for the full Weekly Market Activity Report.

From The Skinny.

Tuesday, September 4th, 2012

We are converging upon an interesting wait-and-see season in residential real estate. All year long, we have witnessed some rather positive year-over-year decreases in inventory numbers and increases in sales, percent of original list price received at sale and median sales price. After many years of struggling to tread water – and, indeed, often failing to do so – there is hope. With quieter autumnal and winter months looming, we will be giving extra scrutiny to the trend lines in the weeks to come.

In the Twin Cities region, for the week ending August 25:

  • New Listings increased 1.3% to 1,282
  • Pending Sales increased 19.4% to 1,027
  • Inventory decreased 29.9% to 16,785

For the month of July:

  • Median Sales Price increased 13.3% to $178,500
  • Days on Market decreased 27.8% to 105
  • Percent of Original List Price Received increased 3.6% to 95.0%
  • Months Supply of Inventory decreased 42.1% to 4.4

Click here for the full Weekly Market Activity Report.

From The Skinny.

Tuesday, September 4th, 2012

We are converging upon an interesting wait-and-see season in residential real estate. All year long, we have witnessed some rather positive year-over-year decreases in inventory numbers and increases in sales, percent of original list price received at sale and median sales price. After many years of struggling to tread water – and, indeed, often failing to do so – there is hope. With quieter autumnal and winter months looming, we will be giving extra scrutiny to the trend lines in the weeks to come.

In the Twin Cities region, for the week ending August 25:

  • New Listings increased 1.3% to 1,282
  • Pending Sales increased 19.4% to 1,027
  • Inventory decreased 29.9% to 16,785

For the month of July:

  • Median Sales Price increased 13.3% to $178,500
  • Days on Market decreased 27.8% to 105
  • Percent of Original List Price Received increased 3.6% to 95.0%
  • Months Supply of Inventory decreased 42.1% to 4.4

Click here for the full Weekly Market Activity Report.

From The Skinny.

Tuesday, September 4th, 2012

 

School is back in session and mornings are crisp, making this a great month for tackling home projects.

By Anne Erickson of MSN Real Estate

Ever wake up in early September and notice that the air smells different? School begins, days get shorter, and a sense of responsibility begins to creep up on most of us.

We’ve always wondered why “fall cleaning” isn’t as popular as “spring cleaning.” The air on brisk September mornings inspires us to dutifully button up the home in preparation for cooler days and longer nights.

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Tuesday, September 4th, 2012

Tara-Nicholle Nelson

Remember metal detectors? When I was a kid, they were all the rage, holding the emotional rush of a game with the a potential real-life treasure chest at the end. Fast forward a couple of decades, and what seems to be our constant craving for a treasure hunt has shifted to a different medium, fed most prominently by PBS’Antiques Roadshow. Loyal viewers like myself watched “The Roadshow” with anxious anticipation for those twin appraisers to come out, before they got their own show. When those guys showed up, it was usually a sign that someone’s auntie’s hideous chest was about to be deemed worth six figures.

 

But there’s a real estate version of this treasure hunting phenomenon, too – and it’s not recreational. Rather, the search for a home with hidden potential is most often undertaken in the very serious effort to stretch every ounce of home-buying power out of a savvy buyer’s real estate dollar. Some buyers’ lifestyles require them to focus on home they can move right into, with no work to be done – and their budgets allow them to do so. But others know that the gap between the home they eventually want and the home they can afford right now is so wide that the only way they’ll get their dream home is to buy it while it’s still a diamond in the rough. (Very rough, in some cases.)

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