Monday, August 26th, 2013

So far this summer, housing has achieved a soft, warm glow. If healing growth in the economy and labor markets persists, housing will be more than ready to weather tapering Fed activity – regardless of when it comes. Both local and national market indicators can’t yet contradict any confidence in rising home prices or dwindling inventory supplies. Let’s take a look into your locale to see how residential real estate is faring.

In the Twin Cities region, for the week ending August 17:

  • New Listings increased 27.8% to 1,643
  • Pending Sales increased 8.7% to 1,173
  • Inventory decreased 10.1% to 16,124

For the month of July:

  • Median Sales Price increased 16.8% to $208,000
  • Days on Market decreased 31.4% to 72
  • Percent of Original List Price Received increased 2.6% to 97.5%
  • Months Supply of Inventory decreased 19.6% to 3.7

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

Posted in Weekly Report |
Monday, August 26th, 2013

So far this summer, housing has achieved a soft, warm glow. If healing growth in the economy and labor markets persists, housing will be more than ready to weather

tapering Fed activity – regardless of when it comes. Both local and national market indicators can’t yet contradict any confidence in rising home prices or

dwindling inventory supplies. Let’s take a look into your locale to see how residential real estate is faring.

In the Twin Cities region, for the week ending August 17:

• New Listings increased 27.8% to 1,643
• Pending Sales increased 8.7% to 1,173
• Inventory decreased 10.1% to 16,124

For the month of July:

• Median Sales Price increased 16.8% to $208,000
• Days on Market decreased 31.4% to 72
• Percent of Original List Price Received increased 2.6% to 97.5%
• Months Supply of Inventory decreased 19.6% to 3.7

 

Click Here to View Full Weekly Activity Report

Posted in Weekly Market Activity Reports |
Monday, August 26th, 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 David Arbit (Research Manager, Minneapolis Area Association of REALTORS® & 10K Research), video produced by Chelsie Lopez.

Posted in Monthly Skinny Video |
Friday, August 23rd, 2013

Posted in Monthly Skinny Videos |
Tuesday, August 20th, 2013

by Julie Wyss

Sure it’s a sellers’ market, but that doesn’t mean it’s a fool proof market.

Sellers who approach the market like a cocky kid who thinks he or she knows it all will soon learn the real estate world isn’t his or her oyster.

If you want to sell your home quickly for the maximum sales price, consider these pearls of wisdom to avoid common seller mistakes.

Mistake No. 1: Pricing your property too high – Every seller wants to get the most money for his or her product. Listing with an excessively high price is a mistake.

A high listing price will simply alienate some buyers before they even see your property. Other buyers could expect more than your home really has to offer.

Over-priced properties tend to take an unusually long time and sell for a lower price than a similar home that’s priced right.

Mistake No. 2: Mistaking refinance appraisals for market value – In a refinance, lenders often estimate the value of your property at a higher level than the home is worth to encourage refinancing.

It’s a good idea to ask your real estate agent for the latest comparable market analysis, based on similar, recently sold properties in the same community.

Mistake No. 3: Forgetting to “showcase” your home – No matter how many times sellers hear this advice, no matter how simple it is to achieve, there’s widespread neglect when it comes to getting a property ready for sale.

Read The Full Article Here

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