Monday, August 13th, 2012

Let’s admit it: It’s been nice to have a year of positive headlines in the residential real estate industry. There have been more sales for more money in most markets across the country, and the foreclosure situation, although not entirely in the rearview mirror, has abated. We’re now entering the months of 2012 that should offer a true test of the lasting power of this buyer-seller tryst. A dropoff in buyer and seller activity might be expected after so many months of bliss, but the feeling remains that the market will survive beyond the honeymoon phase.

In the Twin Cities region, for the week ending August 4:

  • New Listings decreased 0.1% to 1,433
  • Pending Sales increased 20.4% to 1,129
  • Inventory decreased 29.6% to 17,085

For the month of July:

  • Median Sales Price increased 14.2% to $179,900
  • 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 43.4% to 4.3

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, August 6th, 2012

For decades now, the real estate industry has been both humbled and invigorated by the strong and direct relationship between the labor and housing markets. As goes the economy, seemingly so goes housing. That relationship was especially clear after the 2007 recession. The economy added 163,000 jobs in July, the highest figure since February. Our economy is growing, but not as quickly as many would like. Meanwhile, inventory drops and surging buyer demand from renters and first-timers are anchoring home prices and giving sellers more power than they’ve had in years.

In the Twin Cities region, for the week ending July 28:

  • New Listings increased 8.3% to 1,430
  • Pending Sales increased 20.9% to 1,149
  • Inventory decreased 30.5% to 17,103

For the month of June:

  • Median Sales Price increased 10.2% to $178,600
  • Days on Market decreased 22.0% to 113
  • Percent of Original List Price Received increased 4.1% to 95.1%
  • Months Supply of Inventory decreased 42.6% to 4.6

Click here for the full Weekly Market Activity Report.

From The Skinny.

Tuesday, July 31st, 2012

 

By Tara-Nicholle Nelson

Early on in my real estate career, I noticed a recurring anthropological event among house hunting couples. They would come into my office and sit down to tell me about what they were looking for in their next home. In about 75 percent of cases where one of them had expressed an interest in a fixer-upper, as soon as the wanna-be-weekend-handyperson excused him or herself to go to the bathroom, their significant other would pull me aside. Then, eyes desperately darting around in a sort of optical Morse code, sweat beads dropping from their brow, they would initiate what I came to call “The Restroom Conversation,” which always went something like this:

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Tuesday, July 31st, 2012

 

By Tara-Nicholle Nelson

They say humans are born with only two fears: the fear of falling and the fear of loud noises. But as we get older, we learn to be afraid of lots of other things, from snakes to radio show hosts on the other end of the political spectrum from ourselves. (I kid. Sort of.)

But seriously, one of the biggest, learned fears of home buyers and home owners, old and new, is the fear of unpredictability in our home-related expenses, whether it be an unexpected one-time repair or just a trickle of little, monthly costs we didn’t account for.

The fortunate thing about this particular set of fears is that you can unlearn them by getting educated about the common surprise costs that arise and managing them systematically. Here’s a how to do just that:

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Tuesday, July 31st, 2012

 

By: John Riha

Get your kids outside and spark their creativity with fun, simple home improvement projects. Plus, you’ll boost your curb appeal.

If you’re looking for ways to unplug your children and get them some fresh air, try these engaging outdoor projects. You’ll introduce them to a little pride of home ownership while adding some finishing touches that’ll ramp up your home’s curb appeal.

When making stuff with kids, remember the Keep-It rules:

  • Keep it safe. Use gloves and safety glasses when necessary.
  • Keep it simple. They’ll come away with a sense of accomplishment if it’s a project they can handle easily.
  • Keep it under an hour. Kids’ attention spans are short.

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