Comments on: Foreclosures and Short Sales Skewing Twin Cities MLS Statistics http://www.twincitiesrealestateblog.com/2008/foreclosures-and-short-sales-skewing-twin-cities-mls-statistics/ A perspective on the Minneapolis/St. Paul housing market Mon, 01 Mar 2010 16:28:18 +0000 http://wordpress.org/?v=abc hourly 1 By: Webdigs Blog » Blog Archive » Buyers are NOT the Enemy & The Sky isn’t Falling http://www.twincitiesrealestateblog.com/2008/foreclosures-and-short-sales-skewing-twin-cities-mls-statistics/comment-page-1/#comment-4053 Webdigs Blog » Blog Archive » Buyers are NOT the Enemy & The Sky isn’t Falling Thu, 08 May 2008 15:18:46 +0000 http://www.twincitiesrealestateblog.com/?p=216#comment-4053 [...] The gist of this 5-page report is that if you were to take all the foreclosure and short-sale properties out of the equation, then plain vanilla sellers like me aren’t facing the 10% price thrashing that is being crowed out there. Instead it’s closer to 4% - a much more stomachable deal. I encourage you to read the whole report available HERE. [...] [...] The gist of this 5-page report is that if you were to take all the foreclosure and short-sale properties out of the equation, then plain vanilla sellers like me aren’t facing the 10% price thrashing that is being crowed out there. Instead it’s closer to 4% – a much more stomachable deal. I encourage you to read the whole report available HERE. [...]

]]> By: Aaron Dickinson - Edina Realty http://www.twincitiesrealestateblog.com/2008/foreclosures-and-short-sales-skewing-twin-cities-mls-statistics/comment-page-1/#comment-4048 Aaron Dickinson - Edina Realty Wed, 07 May 2008 18:07:54 +0000 http://www.twincitiesrealestateblog.com/?p=216#comment-4048 There are still many ARMs to reset but the indexes for those interest rate resets are also down substantially from their highs so the rates will not bounce as high as they would have prior to the FED cuts. I don't expect us to get out of this whole mess until at least 2009 but inventory for sale in the Twin Cities is down slightly year-over-year... a first since this market started gaining inventory back in 2002. There are still many ARMs to reset but the indexes for those interest rate resets are also down substantially from their highs so the rates will not bounce as high as they would have prior to the FED cuts.

I don’t expect us to get out of this whole mess until at least 2009 but inventory for sale in the Twin Cities is down slightly year-over-year… a first since this market started gaining inventory back in 2002.

]]> By: ryan l http://www.twincitiesrealestateblog.com/2008/foreclosures-and-short-sales-skewing-twin-cities-mls-statistics/comment-page-1/#comment-4046 ryan l Wed, 07 May 2008 17:09:14 +0000 http://www.twincitiesrealestateblog.com/?p=216#comment-4046 I love your optimism. I was just looking at the national maps that the FED has put up showing percentages of foreclosures, percentage of arm loans yet to reset etc. Combine those figures with the MNs heavily skewed retail driven business environment(Bestbuy,Target,Supervalu)that are being hammered by inflation and transportation costs and couple it all with the census homeownership rate data for our state that shows far to many owning homes. Man oh man, I see a bad situation only getting worse. I love your optimism.

I was just looking at the national maps that the FED has put up showing percentages of foreclosures, percentage of arm loans yet to reset etc. Combine those figures with the MNs heavily skewed retail driven business environment(Bestbuy,Target,Supervalu)that are being hammered by inflation and transportation costs and couple it all with the census homeownership rate data for our state that shows far to many owning homes.

Man oh man, I see a bad situation only getting worse.

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