Home pricing in the Twin Cities has recovered from the recession as the median sale price has once again reached the peak back in 2005 and 2006. However, in many communities within the 494 core and specifically first-ring suburban communities; housing pricing has appreciated faster than communities on the fringe. This is in part due…read more
Yesterday I attended the annual 2016 Condominium and Townhome Development Summit where we discussed the state of the industry, trends, etc. I follow this sector of the real estate sector very closely and often speak at seminars regarding this topic. Although this sector of the real estate market was hit the hardest during the downturn…read more
Undoubtably the Twin Cities Metro Area is within a real housing boom. Seems everywhere you look another crane is constructing another rental hi-rise. The past two years have been banner years for new rental housing as nearly 8,000 new units have been developed. However, not all the rental housing in the Metro Area is located…read more
This past week my family I returned from the sunshine state where we vacationed in beautiful Fort Myers, Florida. For the 2nd year in a row, we utilized the website VRBO.com and rented a townhome in a master planned community. VRBO is an amazing website that let’s homeowners, investors, etc. rent their real estate to…read more
The number of homes that have been flipped in the Twin Cities is down considerably as the market continues to show positive momentum. Investors were particularly attracted to flipping homes during the Great Recession when lender-mediated properties could be purchased for cents on the dollar; resulting in instant equity to the new buyer. together with…read more
It’s Memorial Day weekend; the first weekend of summer where Minnesotan’s are known for “going to the lake” for the next 12 precious weekends. With the never-ending winter of 2014, summer has finally arrived and people are once again ready to be out doors and enjoying Minnesota summers. The second home market, often called the…read more
As the housing market turned a corner in 2013, house flippers contributed to the turn-around. Many investors in the Metro Area were able to purchase foreclosed homes for cents on the dollar, remodel the homes, then bring them back to the market. I recently viewed 8 properties with a client and 7 of the 8…read more
As the Twin Cities Metro real estate market has improved in 2013, the number of lender-mediated properties has decreased signicantly as homeowners have recovered lost equity and are no longer upside down on their market. As a result, the number of investors seeking homes to “flip” has decreased significantly. However, investors with deeper pockets are…read more
Today’s Star Tribune article explains the recent changes to Minnesota State law that will effect nearly all property owners in the State. Unfortunatley when our governor and legislature compromised on a budget deal, the property tax issue was a piece of the deal that was not readily understood until just recently. The bottom line.. property…read more
Great article on tax issues when dealing with investment real estate. When pursuing investment deals, always do your due diligence and seek professonal guideance. Tax consequences of flipping real estate By Kay Bell • Bankrate.com During the heyday of continually rising real estate values, “flipping” — buying a property and then reselling it at a…read more
