Twin Cities Real Estate Blog

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Jim Cramer on Tuesday’s show stated that we’re at a housing market bottom nationally (article).  Below is the video of this segment.

While time will tell if Jim Cramer is right, on a local level I’m not ready to call [...]

In the last two weeks we’ve seen interest rates on 30 year fixed mortgages move from 4.5% to 5.5% (or higher) that’s a big OUCH.  This full interest rate point swing has meant that almost overnight, buyers lost well over 10% of their buying power.  Another way to look at it is housing just got 10% [...]

Ok so I’ve already discussed the surge of multiple offers this year… in fact I just talked about it two weeks ago.  In just the last two weeks I’ve seen even more examples of multiple offers and they are now becoming the rule on properties priced well.  In just the last 2 days I’ve had [...]

For weeks now I’ve been getting the feeling that we’ve turned the corner on prices in foreclosures.  Today I’m ready to go out on a limb and take the position that prices on bank owned inventory has bottomed and in fact is likely to bounce up some over the next few months. These are the [...]

10 months after the Minneapolis/St. Paul area MLS (RMLS of MN) made available the somewhat-useful-but-really-bastardized-lender-mediated-mls-field and 14 months after I started openly pushing for specific fields, they have now come to see the light and are redoing the fields as three separate and distinct fields that address each of the major questions/problems of lender mediated listings:
Three [...]

Today MAAR released the quarterly update to their report: “Foreclosures and Short Sales in the Twin Cities Housing Market,” which was co-developed and authored by Jeff Allen from MAAR and myself.

Today’s headline number is that while foreclosures and short sales (what we call lender mediated sales) are still a large part of our new listings and [...]

When I became a Realtor in December of 2002, the housing market was already on its long march up to levels that no one thought possible.  By 2005 we had hit the peak of the market but 2006 was still extremely strong too.
One of the things that’s been largely missing since 2005/2006 is the situation [...]