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Results For Tag: buyers

Twin Cities Housing is Strong

March 27, 2013 |  Article By :   | 

stats curved arrowEven though the weather has been cold and snowy, the home buyers are out in full force in the Twin Cities this year!  According to the S&P/Case-Shiller study, Minneapolis-St. Paul was one of just 8 US cities with double digit price increases, up 12.1% in January 2013 from January 2012.

According to the Shenehon Center for Real Estate at the University of St. Thomas the median sale price in the Twin Cities in February was $205,500 which is a 14.2% increase over February 2012 and this number is just for traditional sales, not distressed properties. The last few months have shown that sales of traditional homes account for 50% or more of all sales which is a very positive sign.

The biggest market challenge is still the low inventory of homes for sale which is driving up prices.  Hopefully with the sales prices on traditional homes increasing more home owners will have better equity positions and will be able to put their homes up for sale.

Builders are also reaping the benefits of low home inventory with more people looking to build. There were 360 building permits issued for single-family homes in the 13-county metro area in January, which is an 80 percent increase over the 200 permits issued in January 2012.

Market Statistics

March 21, 2013 |  Article By :   | 

The Minneapolis Area Association of Realtors has released the market statistics for the week ending March 9, 2013.  Interest rates have increased slightly but that has not scared off the buyers.  Sellers still appear afraid to put their homes on the market resulting in the continuation of a shortage of homes available for sale.

In the Twin Cities region, for the week ending March 9:
• New Listings decreased 6.1% to 1,361
• Pending Sales increased 10.9% to 1,019
• Inventory decreased 30.7% to 12,476

Real Estate in Minneapolis

March 13, 2013 |  Article By :   | 

sm cropped signAccording to the Minneapolis Area Association of Realtors, home sale prices in Minneapolis improved for the 12th month in a row in February!

In Minneapolis in February 2013, there were 2,736 closed home sales, down 4.7% from a year earlier. The number of homes for sale dropped 31.6% to 12,202 active listings. This represents the lowest number since January 2003.

Listings of traditional sales is up and distressed properties is down which is great for the market. Traditional sales jumped 21.5% year-over-year, while foreclosures and short sales dropped 23.5% and 28.5%, respectively.

Buyers are out in force this spring and they are motivated, now we just need the sellers to get their homes on the market so there is something for these buyers to purchase!

Exterior Spring Cleaning

March 12, 2013 |  Article By :   | 

spring cleaningIs your home on the market or are you getting ready to put it on the market?  Don’t forget the exterior spring cleaning. We are entering that ugly time of year here in Minnesota.  Everything has been frozen and snow covered for months and now your yard and home exterior is slowly starting to reappear.  Most likely you have been working on getting the interior of your home all spiffed up but don’t neglect the exterior.  Make sure you cover the following points to ensure a good first impression for potential buyers this the spring!

  • A simple clean and fresh “welcome” mat at the front door is inviting to the buyers
  • Speaking of the front door, make sure your door looks good, freshly painted, no cobwebs on the porch, clean windows
  • If your siding is looking dingy, take a power washer to the exterior as soon as the weather is warm enough
  • Wash all that salt and sand off your driveway and lawn edges
  • If you have gutters, make sure they are cleaned out
  • Tidy up your landscaping so it is ready to start growing again
  • Sweep out your garage and get it organized, even though it is the garage, it is a part of the house that needs to be neat and tidy, not a dirty overflowing storage closet
  • If you have a dog, rid your lawn of the landmines that may have collected over the winter

These items are basic, simple and mostly free but will make a big difference to a buyer in making a great first impression!