Real Estate Consulting & Sales | Residential + Commercial

Twin Cities Condo and Townhome Inventory at Record Low

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

Boomerang buyers making a comeback

Boomerang buyers; or those who lost there home during the Great Recession, are beginning to enter the real estate market.   Some 8 million households lost their homes during the recession.  Since the housing crisis; many households have repaired their credit and may be buyers again.  Typically, credit repair takes about 7 years after a foreclosure…read more

Nearly 25% of home sales in Minnesota are cash transactions

About 25% of home purchases in Minnesota have been cash sales (i.e. no mortgage).  This is lower than the national average of 36% and is down from a few years back in the Great Recession.  During the downturn and ensuing Great Recession; real estate investors purchased homes at discounted rates and accounted for a significant…read more

2015 Twin Cities Real Estate Projections

Every year I’m asked what’s in store for the next year?  Although I can’t predict the future (or I would be playing the lottery!) I predict 2015 will continue last year’s positive momentum.   Most economists agree that the Federal Reserve will raise interest rates in 2015; when though it is unknown.  We should continue to…read more

Home Price Gap between Existing Homes and New Homes…

New construction homes have historically always commanded a premium price over the existing home market.  However, since the housing downturn and Great Recession; the gap between the two product types has widened.  In the Twin Cities Metro Area (as of July 2014) the median listing price for a new construction home was $359,900 ($147 per…read more

One-third of real estate sales in MN are cash buyers!

A recent report by the National Association of Realtors for the first quarter of 2014 shows one-third of all real estate sales in Minnesota are for cash.   Nationally, about 43% of all sales in the U.S. were cash transactions.  During the Great Recession, the percentage of cash buyers increased significantly from mostly investors who purchased…read more

Average Downpayments in Minnesota decline as market recovers

The following article and Infographic shows the average downpayment by geography.  According to LendingTree, the average down payment in Minnesota is about 14.5%, ranking us #20 in the U.S.   Although lenders continue to demand a high-level of due diligence on prospective lenders, they have loosened their belts from the over correction that occurred during the…read more