Thursday, May 31st, 2012

by The KCM Crew

The real estate market continues to heat up as we head into the summer. Will this increase in demand equate to an increase in home prices? That depends. Remember, the price of any item is determined by the supply of and demand for that item at any point in time. Let’s look at the facts as reported by the National Association of Realtors (NAR) in this month’s Existing Home Sales Report:

  • Demand has strengthened, showing a 10% increase over the same month last year.
  • The supply of homes for sale is down 20.6% from the same time last year.

Because supply is down and demand is up, many believe prices should begin to increase as we finish out 2012 and head into 2013.

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Thursday, May 31st, 2012

 

By Kimberly Palmer of U.S. News & World Report

Cool can be costly

With energy costs on the rise, this summer could be sweaty — and expensive. But there are some easy ways to trim your cooling costs without suffering through 90-degree evenings, sans air conditioning. In fact, if you start preparing for the coming heat wave now, you can probably save a few hundred dollars. You’ll also be doing the environment a favor, since the Energy Department estimates that half of a household’s overall energy usage goes toward heating and cooling costs.

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Thursday, May 31st, 2012

By Gayla Trail

QUESTION:

I just moved into a house with a yard that is basically a blank slate. The quantity of plants needed to fill up the garden is breaking the bank! Any tips for how to find a bargain?

ANSWER:

Friend, you have come to the right person for advice. I am a plantaholic without the means to feed my addiction. Do I know how to get a bargain? Heck, yeah! The following are just a few strategies I have put to use to extend my gardening budget well beyond its limit.

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Tuesday, May 29th, 2012

The tempo in residential housing has remained upbeat through the first five months of 2012. Year-to-date figures begin to sing a compelling tune at this time of year, and the song thus far is that markets are moving back toward balance and home prices are beginning to reflect that stabilization. For the most recent week, buyer activity was higher than year-ago levels while listing activity registered lower. Keep an eye on months supply, seller concessions, market times and foreclosure rates. Multiple offers are back and tentative owners looking to move should take note. It’s okay to sing in public again.

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

  • New Listings decreased 9.6% to 1,533
  • Pending Sales increased 18.6% to 1,116
  • Inventory decreased 29.4% to 17,648

For the month of April:

  • Median Sales Price increased 12.1% to $162,500
  • Days on Market decreased 15.2% to 135
  • Percent of Original List Price Received increased 3.6% to 93.4%
  • Months Supply of Inventory decreased 42.0% to 4.8

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |
Monday, May 21st, 2012

Houses are just things. Boxes waiting to be filled. In the hands of caring, nurturing citizens, those simple boxes become homes that create memories and fortify communities for generations. This May, more than 13,000 REALTORS® rallied at the Washington Monument to preserve the American Dream of homeownership. Some components of the dream are being threatened by budget pressures and market realities. But homeownership is very much alive and well, as more than three out of five residencies are owner-occupied in the U.S. Moreover, buyer demand has been impressive throughout the year. As Franklin D. Roosevelt famously stated: “A nation of homeowners is unconquerable.” Our response in 2012: Fill the box!

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

  • New Listings decreased 11.8% to 1,485
  • Pending Sales increased 18.9% to 1,159
  • Inventory decreased 28.3% to 17,761

For the month of April:

  • Median Sales Price increased 12.1% to $162,500
  • Days on Market decreased 15.1% to 135
  • Percent of Original List Price Received increased 3.6% to 93.4%
  • Months Supply of Inventory decreased 42.4% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

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