Attention residents and commuters in Plymouth, Golden Valley, St Louis Park, Minnetonka, and Hopkins: the season of road construction is coming early in 2017!
Several major construction projects will begin on Tuesday, January 10th, 2017 on US Highway 169. Both directions will be closed between Bren Road and 7th Street will be closed from January 17th through September 2017, weather permitting. For a more detailed overview of the road closures, exit repairs, and major benchmark changes coming to the West Metro, view the MnDOT website’s full report on the planned construction deadlines and goals.
Construction in the Twin Cities is continuing its upward trend with a 110% increase in new construction in April 2013! Inventory of existing homes for sale continued to fall another 4.5% putting inventory levels at a low not seen in over a decade! Building permits for single family homes in the Twin Cities were up 27%. With the low rental vacancy rates, less than 3%, permits for building apartments in Minneapolis were way up once again. Because of permits for apartment buildings, Minneapolis led the new construction permits in April with 408 units, Lakeville was second with 32 units, Chanhassen had 29 and Woodbury 24. Blaine had the most single family construction permits with 20. This information comes from the Minneapolis Area Association of Realtors and the Builders Association of the Twin Cities.
Many of my buyers really rely on having an inspection on the home they are going to purchase but sometimes buyers wonder if they need an inspection. Unless your are very knowledgeable about construction yourself I always recommend getting an inspection. Many buyers want to cut costs and if the home is newer they don’s see the need to do an inspection but just because a home is new does not mean it is free and clear of issues. By spending a bit of money for an inspection up front you can save yourself a lot of money down the road! (more…)
Right now it is looking like 2012 is on the way to an increase in new construction as building permits are up! Estimates say that we may see a 10-12% increase in new construction this year which would be great news! In January, Minneapolis led the way with the number of building permits issued followed by St. Paul, Hudson, WI, Eagan and Maple Grove. Click here for more.