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 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
Like the last Census, Minnesota continues to lead the country in homeownership rates. See article below: 10 states ranked by high, low homeownership rates Share ranges from 53% to 73% By Inman News By 24/7 WALL ST The dream of owning a home has become increasingly unattainable for many Americans, and the situation is…read more
As we continue to regain traction in the housing market, 2010 will be a year many builders would like to forget. This past year, building activity was at its lowest in 47 years across the country. Continued tighter lending standards, lack of consumer confidence, and higher than normal unemployment rates kept new housing construction at…read more
If your like many homeowners, you recently received your 2011 property tax statment in the mail this past month. Like most homeowners, the value of your property decreased..however many households found thier property taxes increasing! It doesn’t sound fair I know, however some municipalities such as Minneapolis have really socked it to homeowners, many experiencing…read more
The attached article sums up today’s buyers…more and more buyers are not seeking high loan-to-value ratios and are either putting more money down or paying cash. However, many of these buyers are not your “typical” first-time homebuyer who may have little equity (less than 5%) to contribute to the down payment. As lenders have tightened…read more
It has always been a given homeowners have historically had a higher net worth than renters, however new data released suggests owners have a 41% higher net worth! Please see link below for further information: http://www.housingwire.com/2010/11/16/nar-homeowners-net-worth-41-times-greater-than-renters
Please check-out the link below regarding a new article on research compiled by Zillow. Although Zillow numbers are “estimates”, the Twin Cities is showing a -28.2% decrease in the median sales price since the peak of the market in late 2005/early 2006. This is in-line with what I estimated, about 30% Metro Wide. Although this…read more
Great article today in Builder Magazine based on data from RealtyTrac. Not a huge suprise, but it sums up the downward pressure on pricing when foreclousres and short sales account for such a signficant share of real estate transactions. On average, it is estimated foreclosures in the Twin Cities are discounted about 20% from the…read more
Todays article in the Star Tribune describes the benefits of living in St. Louis Park and Golden Valley; both communities have experienced larger median home sale increases over the past decade compared to other surburan communities west of Minneapolis. I’ve alwasy been a big proponent of both St. Louis park and Golden Valley as I…read more
