Twin Cities Real Estate Blog

In the last 12 months I’ve had a few situations where my client’s offer on a foreclosure was rejected in favor of a cash offer.  In my office, I know of many others that have experienced the same thing.
With the data provided by RMLS that I used yesterday to comment about FHA transactions, I am also able [...]

The 3 local REALTOR associations released 2009 housing statistics and I started going through them and my eyes were drawn to the number of closed sales in 2009 -  45,200.
Since most sales have a Buyer’s Agent and a Seller’s Agent, we’re looking at a total of approximately 90,000 trasaction “sides.”
The Twin Cities associations have approximately [...]

The housing boom brought us a slew of new community developments including condos, townhomes and retail/condo buildings.  While financing on townhomes is still doable, financing options for condo & mixed-use buildings is becoming very difficult.  The developments with the hardest time getting financing are the ones that have had the highest rates of foreclosure.
So many condos built from 2005-2008 in [...]

We’re barely into the new year and it is cold…. very cold…. outside.  Why would I be suggesting sellers put their house on the market?
The chart below shows that January historically has a stronger showing activity than November and December and due to the 20% decrease in houses for sale in the last 12 months, there’s [...]

A reader of this blog asked a good question this weekend: what happens to sales when rates rise?
This is an intriguing question.  While I had my suspicions, I wasn’t sure what I would find so I put together this little image from Twin Cities MN Pending Sales and the 10 Year Treasury Note.  While the 10yr [...]

Bumped into a blog post from the folks at Smart Politics regarding the RealtyTrac foreclosure data released for November 2009.  I was stunned by their quote that the foreclosure rate is up 56% in Minnesota in the last year.  I heavily track foreclosure activity and haven’t seen nor felt that amount of increase.  At first I [...]

We’re in the middle of a foreclosure crisis, right?
Every day more and more homeowners are falling behind on their payments, right?
So…………. where are the foreclosures?
County Sheriff Sales activity in Anoka, Dakota and Hennepin counties are all at or below the levels this time last year.  So while banks have more and more bad loans on [...]