Archive for 'Community Issues' Category
So Much to Say, No Time to Say It
16 April 2008If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!I’ve got mountains of thoughts to share with you all but have simply not had the time to write about it. Blogging takes concentration & clarity of thought… two things I have had very little of lately with this [...]
REALTORS Looking to be Part of the Solution
17 March 2008Everyone seems to be talking about foreclosures, short sales, and the housing market in general. REALTORS are looking to not only be part of the conversation, but also contribute to the solution.
While some have accused REALTORS of contributing to this mess, which I have to say we did have a role in, we certainly did not [...]
Star Tribune Prints the Wrong Story
15 March 2008I just read the most recent “the sky is falling” real estate article from the Star Tribune. The Star Tribune profiles a family (the Floyds) that are losing to foreclosure their house in North Minneapolis that they’ve lived in for 23 years. Today they owe 4X the amount they originally paid for the house! Instead of this being an article [...]
Banks: Install Security Systems in Foreclosures
3 March 2008Recently I was looking at foreclosure homes under $80,000 with a buyer and we saw house after house with damage that appeared to be after the home was vacated by the previous owner. The most common thing found missing was most/all of the copper plumbing. In homes that had copper or other items stolen, the [...]
Minneapolis Considering Plan to Save Neighborhoods from Foreclosure Crisis
1 March 2008The Star Tribune has an article regarding a plan in Minneapolis to give $10,000 in assistance to buyers in many of Minneapolis’ hardest hit neighborhoods. While the program being discussed is limited to only 50 buyers ($500,000 in funds), it is a good start.
Depending on the property, the city may be able to get away [...]
St. Paul Real Estate - Two Different Stories
18 February 20082007 was a year of opposite experiences for St. Paul… parts of St. Paul saw statistically flat prices or even modest sales price appreciation while other parts saw significant declines.
When you have a 25% difference between your best performing neighborhoods and your worst performing, in the same city and in the same year, there’s a looming crisis [...]
Short Sales & Foreclosures - Home Owner White Collar Crime?
15 February 2008In this difficult housing market, many recent home buyers are either behind in their payments or owe more money on the home than it is worth.
For some homeowners behind in their payments, a job loss or other financial calamity accounts for their inability to pay. For other homeowners, it was that they were sold on a loan with [...]
Twin Cities Affordability Hits Highest Level in Nearly 4 Years!
14 February 2008With the release of this week’s Weekly Market Activity Report we find that the Twin Cities Housing Affordability Index hit a near 4-year high!
The Housing Affordability Index takes into account interest rates, area median income, and median home sales price. With both sales prices and interest rates falling recently, we find the Index has increased quite substantially [...]
Short Sales & Foreclosures = More Multiple Offers
11 February 2008Sounds kinda funny but many of the foreclosures & short sales I’ve been showing lately are receiving multiple offers… and are doing so at a much higher rate than the rest of the listings on the market! In some cases the homes sell for at or above asking price, though most still sell for less [...]
Eden Prairie Townhome Development: 65% Foreclosed in 2007
20 January 2008I recently came across a small townhome development in Eden Prairie that had multiple units for sale on the MLS, all of which were in the Redemption Period of Foreclosure. After showing it to my client, a neighbor next door who was renting his unit came out and asked me what I knew about what [...]