By Matt Mullins on April 9, 2013
Today’s article from Time Magazine highlights an ongoing issue regarding housing and the economy. Undoubtable the housing market crash was one of the primary catalysts for the economic downturn. But housing also creates jobs and can fuel economic recoveries. New construction has a trickle down effect..from construction workers, realtors/brokers, morgtgage lenders, title companies, engineering firms,…read more
Posted in Buyers, Market Stats, Misc., Mortgage/Finance
By Matt Mullins on April 2, 2013
No Question about, lenders over corrected after the housing bust. Most everybody agrees lenders needed to tighten underwriting standards, however most industry experts agree they went to far as many households with steady jobs and good credit still are having difficulty in obtaining a mortgage. This has affected the housing recovery as many would be…read more
Posted in Buyers, First Time Home Buyers, Mortgage/Finance
By Matt Mullins on March 20, 2013
No doubt about it, buying is cheaper than renting today in the Twin Cities if you have good credit and funds for a downpayment. The rental vacancy rate across the Metro Area is about 3%; indicating a tight rental market and increased rents from landlords. Nearly all of the new rental construction today has rents…read more
Posted in First Time Home Buyers, Rental Housing
By Matt Mullins on February 27, 2013
No doubt about it; the Twin Cities real estate market is in recovery mode. There is no shortage of buyers who are competing for a small inventory of homes available. Inventory continues to be down by about 30%, resulting in a competitive market for homes priced right and appealing to first-time home buyers. The first-time…read more
Posted in Buyers, First Time Home Buyers
By Matt Mullins on February 3, 2013
No doubt about it, the apartment sector has driving the real estate recover over the past year. Although the Mullins Group estimates there are upwards of 20,000 apartment units in the pipeline throughout the Metro Area, many of these developments will stall out or be cancelled. However, 2013 looks to be a record year for…read more
Posted in New Construction, Rental Housing
By Matt Mullins on November 16, 2012
Mortgage rates fell again this week..sending to a new record low. According to Freddie Mac, the average 30-year fell to 3.34% and the 15-year to 2.65%. Rates continue to drop due to the concern over the fiscal cliff and demand for government bonds. Since the presidential election, investors have pulled from the stock market and…read more
Posted in Buyers, Mortgage/Finance
By Matt Mullins on September 27, 2012
Good article about cutting costs on new construction. As builders have come out of the recesson, labor costs other effieciences have been implemented to bring home costs down. In particular, depressed land costs have been a substantial cost savings to new home buyers as the savings has brought the total package price down. In many…read more
Posted in Buyers, First Time Home Buyers, New Construction
By Matt Mullins on September 23, 2012
Big news.. the Mullins Group has a new website and blog! Please check back regularly as we plan to have updated blog entries at least once a week on important real estate issues. http://mullinsgroupinc.com/blog/
Posted in Misc.
