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2013 Housing Market: Crying Buyers, Cheering Sellers

January 10, 2013 by Leave a Comment
What do you mean the house has 4 offers on it already?Image:migasun

The 2013 Twin Cities housing market is shaping up to be a story of the haves and the have-nots. In this case the haves are Sellers, who are going to find stronger buyer interest for their home than sellers have seen in nearly a decade.  On the other hand, Buyers are the have -nots, as they will struggle to find homes in their price point before another buyer does. 2013 is going to surprise a lot of people with severely restricted housing supply, strong buyer demand, and accelerating price increases.  The crux … [Read more...]

Filed Under: Blog, Featured Blog Posts

2012: Twin Cities Housing Turnaround

December 30, 2012 by Leave a Comment
Home Sales on the Rise

The Twin Cities saw a surprising turnaround in the housing market in 2012.  While I had predicted that the Twin Cities had hit bottom in January 2012, no one, including myself, had expected as strong of a 2012 as we had. While final numbers are not in yet, 2012 was a banner year for the Twin Cities. Prices surged, Traditional Seller activity increased while distressed sales decreased, buyer demand swelled nearly 20% and the inventory of for-sale homes dropped almost 30%. That increase in buyer demand and … [Read more...]

Filed Under: Blog, Crystal Ball Projections, Featured Blog Posts, Housing Analysis, Info for Buyers, Info for Sellers, Market Stats, Market Updates

Minnesota Foreclosures Down 10%

November 16, 2012 by Leave a Comment
2012-q3-sheriff-sales

HousingLink just released their 2012 Q3 Minnesota Foreclosure Update, showing sheriff sales are down 10% from Q3 2011.  What is also worth noting is that they are down 38% from Q3 2010!  Here is a chart from their report:   … [Read more...]

Filed Under: Blog, Featured Blog Posts, Info for Buyers, Info for Sellers, Market Stats

Comparing Trulia, Zillow & REALTOR.com to IDX/Broker Reciprocity Audience

November 15, 2012 by 2 Comments
mls-zillow-trulia-realtor

While the syndicators have a lot of web traffic at a national level, their traffic locally is much smaller. Up until this point however, there has been no way to track all the properties viewed by consumers on the 1000's of local Broker Reciprocity websites and compare that to these behemoth syndicators. Through Broker Reciprocity (many know it as IDX), many MLSs have hundreds or thousands of member websites that display property listings. This represents a huge amount of exposure for member's listings that … [Read more...]

Filed Under: Blog, Featured Blog Posts, Market Stats, Opinion

Twin Cities Traditional Seller Inventory Down 70%

November 12, 2012 by Leave a Comment
Twin Cities Real Estate - Traditional Seller Inventory Down 70%

Where have all the Traditional Sellers gone?  While foreclosures are down 60% and short sales are down 54%, Traditional Seller homes for sale are down an eye-popping 70% from their peak in 2007! Seller activity has been much lower these last 5 years due to the decline in home prices but in 2012 we saw an increase in prices and saw 5% more Traditional Seller listings enter the market as well.  Even with the increase in seller activity this year we still lost inventory because buyers have come out in droves … [Read more...]

Filed Under: Blog, Featured Blog Posts, Foreclosures and Short Sales, Info for Buyers, Info for Sellers, Market Stats, Market Updates

Twin Cities Foreclosure Homes For Sale Down 60% From Peak

November 11, 2012 by Leave a Comment
twin-cities-foreclosures-short-sales

Twin Cities foreclosure and short sale inventory continues to drop like a rock, with foreclosures for sale down an astounding 60% and short sales for sale down 54% from their peaks: With buyer demand remaining strong and with substantially fewer foreclosures and short sales being listed than in the last few years, foreclosures and short sales for sale should continue to decline.  This bodes well for traditional sellers who will have less competition for their homes but comes as a disappointment to many home … [Read more...]

Filed Under: Blog, Featured Blog Posts, Foreclosures and Short Sales, Market Stats, Market Updates, Short Sales

Asbestos & Mesothelioma – Quick Info

November 11, 2012 by Leave a Comment

You may see ads all over TV from attorneys and law firms regarding asbestos and mesothelioma settlements.  Asbestos was used heavily in many products for decades and those who worked around it have higher risk of contracting mesothelioma, a rare form of cancer, or lung cancer.  Millions have been set aside in a variety of lawsuit settlements to settle asbestos and mesothelioma claims - which is why you see so many lawyers advertising about it! For homeowners, it is important to know that older homes may have … [Read more...]

Filed Under: Blog, Featured Blog Posts

This Should Be Berkshire Hathaway HomeServices’ Next Step

October 31, 2012 by Leave a Comment

I've been a part of the HomeServices of America family for almost 10 years now. While Edina Realty does hold several company-wide events each year, this only brings into the fold the few thousands of agents in Minnesota and Western Wisconsin.  While HomeServices has companies in 18 states and is the 2nd largest real estate brokerage in the country, there has not been a national convention to attend to meet new people, get new ideas, and to feel part of the bigger family. Now that Berkshire Hathaway HomeServices … [Read more...]

Filed Under: Blog, Featured Blog Posts, Useless Ramblings

Twin Cities Preforeclosure Notices at 2nd Lowest Since 2009

October 29, 2012 by Leave a Comment
Twin Cities Preforeclosure Notices

More good news for the Twin Cities Housing Market.  The Minnesota Home Ownership Center just released their Q3 2012 preforeclosure data. While there was a slight uptick in notices for the third quarter, the numbers are still down a healthy amount from recent quarters and are sitting at just over half of their peak levels.  This continues my mantra that we'll have elevated numbers of foreclosures and short sales for some time but that the worst is behind us. And in case you are wondering what is … [Read more...]

Filed Under: Blog, Featured Blog Posts, Foreclosures and Short Sales, Market Stats, Statistics

Twin Cities’ Record Low Housing Inventory Poised To Drop Further

October 1, 2012 by Leave a Comment
Chart courtesy MAAR, data from RMLS of MN.

The Twin Cities real estate market continues to improve at a stronger pace than most industry insiders expected, including myself.  Buyers have been coming out of the woodwork to take advantage of all time record low interest rates - one of my clients just locked in a 2.875% 30yr FIXED FHA loan! Historically in the Twin Cities, Sellers like to hibernate until after the first of the year and so the available inventory of homes for sale in the Twin Cities drops dramatically from its summer highs to its winter … [Read more...]

Filed Under: Blog, Buyers, Crystal Ball Projections, Featured Blog Posts, Info for Buyers, Info for Sellers, Market Stats, Opinion, Sellers

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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.