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It’s Ok To (Slightly) Overprice Your Home Again

overpriced

For 6 years agents and homeowners suffered terribly when they've overpriced a home for sale.  Some agents did not have the courage to give sellers the bad news and in some cases the sellers wouldn't listen to reason, even if there was a mountain of proof. With a huge glut of homes for sale and few buyers, there was so much competition at every price point that an overpriced home was getting few showings, if any, and wasn't making it onto buyer's followup lists.  This meant the home would sit on the market much … [Read more...]

2012: Twin Cities Housing Turnaround

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...]

Twin Cities Traditional Seller Inventory Down 70%

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...]

Twin Cities Foreclosure Homes For Sale Down 60% From Peak

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...]

Twin Cities Foreclosure Forecast: Fewer Foreclosures in 2013

Twin Cities Foreclosure Activity

I'm a huge data nerd.  I stare at charts and data almost daily to get a better sense of what's going on in the housing market.  One of the more interesting datasets I look at is foreclosure activity.  Between the preforeclosure notices published by the Minnesota Home Ownership Center, the sheriff sale data published by HousingLink and the MLS foreclosure sales from MAAR, we can build a very good picture of foreclosure activity over the last few years: But this data can do more than just show current … [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.