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Results For Tag: housing market

Market Statistics

September 12, 2013 |  Article By :   | 

The Minneapolis Area Association of Realtors has just released the statistics for the Twin Cities for the week ending August 31, 2013.

In the Twin Cities region, for the week ending August 31:  

• New Listings increased 16.3% to 1,359

• Pending Sales increased 22.9% to 1,243

• Inventory decreased 9.3% to 16,081

For the month of August:  

• Median Sales Price increased 16.9% to $208,000

• Days on Market decreased 34.0% to 70

• Percent of Original List Price Received increased 2.0% to 97.0%

• Months Supply of Inventory decreased 18.2% to 3.6

Market Statistics

September 5, 2013 |  Article By :   | 

The Minneapolis Area Association of Realtors has just released the statistics for the Twin Cities for the week ending August 24, 2013.

In the Twin Cities region, for the week ending August 24:

  • New Listings increased 15.7% to 1,485
  • Pending Sales increased 17.8% to 1,144
  • Inventory decreased 9.2% to 16,180

Rising Interest Rates Can Be a Good Thing

August 27, 2013 |  Article By :   | 

up arrowRising interest rates can be a good thing for several different reasons.

  • Right now people have a false sense of a high mortgage rate. Just a few short years ago 6% was a good rate. We have been spoiled with historically low rates that could not last forever. Even though rates are rising, they are still low.
  • If you are a seller, the rising rates and the rising home prices are getting buyers to finally start buying. Buyers realize that the time of the great deal is over and they need to buy now to still get a good deal.
  • The loan back up will start ending. So many people were refinancing and that combined with new mortgages had the loan industry all backed up. The rising rates will keep most from refinancing allowing more time for new purchase mortgages.
  • Rising rates are a sign that the economy is improving and is also a good sign then for the housing market.

Who’s Back In The Market

August 14, 2013 |  Article By :   | 

9518793_sDid you know that one in ten home buyers this year have been through a short sale or foreclosure? This number is more than double the number of the same type of buyers in 2012.  If people keep their credit in tip top shape, pay bills on time, have a good employment record, and save money for a down payment it is possible to get certain types of mortgages just two to three years after a foreclosure or short sale. The length of time can also depend on the circumstances of the foreclosure or short sale, such as an illness, layoff or death. Divorce is not one of those circumstances that helps. With around 150,000 homes in Minnesota being sold as foreclosures or short sales from 2005 to 2012, that makes for a lot of former homeowners that could get back into the housing market as buyers! If you have been through a short sale or foreclosure and would like to buy a home, contact your mortgage banker to see what your options are.