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Print a 3D Model of Your House Plan

3D Model of House Plan

For home buyers that are looking to build a new home, one of the most common questions asked is "what will it look like?" While drawings and blueprints are helpful, it is still hard to get the feel for spaces and layouts. The Plan Collection is now offering house plans that include the digital files needed to create a model of the home using MakerBot or other 3D printers. For home buyers purchasing fully custom homes and for smaller builders that do not maintain model homes for each of their floor plans, 3D … [Read more...]

2014 Twin Cities Housing Market Forecast

2014-housing-market-forecast

Barb Jandric, president of Edina Realty, has made the following prognostications. I have added to these thoughts with my comments in blue where appropriate. This past year has been an exciting year of steady recovery in the Twin Cities metro area. Rising prices meant more homeowners gained enough equity in their homes to make a move. Rates hit record lows, enticing buyers to make a move in a competitive market with a shortage of inventory. This was a significant trend this year, as was continued strong investor … [Read more...]

Twin Cities Real Estate October 2013 Market Update

Twin Cities Real Estate Market Update - October 2013

What's going on in the Twin Cities housing market? Take a peek below! If you are thinking about selling your home this winter or next spring, now is the time to get a free home market value analysis! … [Read more...]

Twin Cities Home Prices Jump 17.5%

june-2013-median-sales-price-1

Median Sales Price Another WOW month for the Twin Cities real estate market.  Homes that closed in June sold for a $210,000 median price, a 17.5% increase versus a year ago and an 8.2% increase from the month prior.  The $210,000 median sales prices what the highest since December 2007 - over 5 1/2 years ago. Days on Market Meanwhile the time it takes to sell a home continues to drop dramatically - now at just 74 days - down 34% in the last 12 months.  Many houses are selling in multiple offer in the … [Read more...]

June 2013 Twin Cities Housing Market Update

june-housing-stats-video

Take a look at this month's video update on the Twin Cities housing market. … [Read more...]

Perception Versus Reality

I recently had a long term blog reader contact me to see some homes.  While they had been reading my articles regularly, when we actually got out into the market and started looking at homes in their price point, they were shocked at just how much the market had changed. In many price points in many parts of the Twin Cities, homes are flying off the market with demand at levels we haven't seen since the housing boom ended in 2005/2006.  Many buyers are being caught off guard in what has been a far sharper … [Read more...]

Twin Cities Buyer Showing Activity

showing-data-5-20-13

While home sales in the Twin Cities are at 7 year highs, home buyer showings are actually down from last year:   Why are home showings down even though sales are up?  Simple.  Far fewer homes for sale this year means buyers simply have far less to look at. A couple years ago buyers could look at dozens of homes for sale that met their criteria and spend weeks deciding.  Today we often find that there are less than a dozen homes that really match a buyer's wants and they have only days to … [Read more...]

Minnesota Foreclosures Continue Decline

Q1 2013 Sheriff Sales in Minnesota

HousingLink just released their latest foreclosure report showing the strong declines in sheriff sales continues.   Once a sheriff sale has occurred, most properties will be listed by the bank that took it back 7-9 months later.  Consequently, the continued decline of bank owned listings for sale on the MLS is all but certain at this point.  When fewer properties go through foreclosure, neighborhood values are higher and we've seen this trend for over a year now.  This is great news for sellers … [Read more...]

Housing Market’s Virtuous Cycle

The Housing Market Virtuous Cycle

The housing market has come roaring back in many markets throughout the U.S. and some have been questioning whether the surge of activity we're seeing has staying power. In many markets, from 2008 through much of 2012 we saw that nearly half of home sales were of foreclosed or short sale properties.  What we're seeing now is a return back to the Traditional Seller as foreclosure and short sale inventory declines sharply. What's crucial about this return to a more normal market is that in a Traditional Sale, … [Read more...]

Twin Cities Pending Home Sales 2nd Highest in 7+ Years

Home Sales on the Rise

 Twin Cities pending home sales for the week ending April 20th, 2013 surged to their 2nd highest level in more than 7 years. In one week, 1,337 homes went under contract, which was the highest level since August 2005 except for a single week in 2010 when the first time home buyer tax credit was expiring. Pending sales were nearly 10% higher than the same week a year ago and continues the trend of increasing sales, declining inventory and rising prices. While sales are up, new listings are effectively flat … [Read more...]

Disclaimer

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.