July 15th, 2008 categories: Real Estate
Our updated Twin Cities Market Report suggests that things are getting a little better out there. For graphs and charts of the key statistics, click the PDF link at the bottom of the post.
Prospective homeowners appear to have celebrated our Independence holiday by buying a home. For the week ending July 5, there were 735 signed purchase agreements (pending sales), up 7.3 percent from the same week one year ago. New listings increased by 2.5 percent for the same time period comparison but took the expected dive from one week prior due to the 4th of July holiday.
Days on Market Until Sale fell from last month to 147 but is still 13.1 percent higher than a year ago, and the Percent of Original List Price Received at Sale increased to 92.8 percent. Both changes are Read the rest of this entry »
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July 14th, 2008 categories: Real Estate, Trends
Plentiful jobs, excellent schools, affordable housing - according to CNN’s Money Magazine top 100 list of America’s best small cities, 9 Minnesota cities have all that and more. And even better, the report ranked our very own northwest suburb, Plymouth, MN, as the #1 place to live among U.S. cities with populations of 50,000 to 300,000!
The ranking touts Plymouth’s “topnotch” schools, plentiful jobs, affordable housing, low crime rate and active outdoor culture. In addition, the report shows that Plymouth has a significantly higher-than-average median family income, family purchasing power, math and reading test scores, and percentage of residents with a health plan (91.2%); AND lower-than-average auto insurance premiums, shorter commute times, and lower median home prices. Here are a few other things they say about our little gem of a city… Read the rest of this entry »
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A Great New Tool For Your Home Search - Google Steet View
May 13th, 2008 categories: For Fun, Home Buying, Real Estate
Google has been synonymous with everything from great search, to amazing free email, to maps, etc…but one of their relatively new features (for Minnesota at least) is Google Street View. Google Street View is built right into their Google Maps feature. The implications of this tool for your home search are enormous. Google Street View allows you to type in an address, location, or point of interest and then take a virtual walk through the neighborhood.
For example, if you were interested in our listing on 1511 W 33rd Street in Minneapolis and wanted to see how far your actual walk to Lake Calhoun would be, you could go Read the rest of this entry »
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What Every Buyer Should Know About Short Sales
April 22nd, 2008 categories: Home Buying, Home Ownership, Real Estate
There are currently at least 29 short sales that are available for sale in the Edina and Southwest Minneapolis markets (found by searching in agent comments for “bank approval” and “short sale”). In the Camden area of Minneapolis, there are at least 70. If I look at Minneapolis proper, the number is over 315…St. Paul proper gives us over 300 as well. So, needless to say, there are a good amount of short sales out there. The question is, what does that mean to you, the buyer? How can you keep your dream home from vanishing before your eyes (like the one above)? Short sales open a whole new can of worms throughout the buying process…but first, a short (no pun intended) explanation of them. Read the rest of this entry »
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