Twin Cities Real Estate Blog

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Most of my buyers are NOT housing experts… they are “regular people” and are experts in whatever field they work in but not in real estate.  That’s just fine because that’s why people like me have jobs doing what [...]

This is a very common question I get asked by prospective buyers given our current economic situation and the conflicting information they get from news, friends, family and coworkers.
Below is a list of questions to ask yourself as a guide to help you decide if now is a good time to buy for you.
1. How [...]

I often get questions on where to find information on foreclosure properties in the Minneapolis/St. Paul area.  Here are a few free resources that you can refer to:
Hennepin County Foreclosures
Dakota County Foreclosures
Search Foreclosures and Short Sales currently for sale
Unfortunately the other counties have not become user-friendly enough to post their sheriff sales onlines… I really [...]

According to the RMLS’s analysis of the 13 county Twin Cities metro area, the average home is selling in 165 days.  But also according to the RMLS, that home is only selling for 91.7% of original list price.
Now I’m not 100% sure on this, but my feeling is that most sellers would prefer to sell [...]

This question comes up with both my clients and my coworkers: “When will we hit bottom?”
The problem with that question is that there is more than one answer.  Are we talking about:

Lowest sales price?
Fewest units sold in a month?
Highest supply of homes on the market?
Longest days on market?
Lowest (or highest) affordability?

Depending on who you are [...]

Question: I’ve been reading in the newspaper and seeing on TV that houses are not selling for what they are listed for.  How much can I take off the asking price?
Answer: Houses are selling on average for 91% of their original list price, which is to say that this is an average.  Homes that are [...]

Question: I submitted an offer on a listing where the seller needs to get approval of a short sale from their bank(s)…how long will it take to hear back?
Answer: Responses from banks on short sales is typically taking anywhere from 2 weeks to 2 months, with 1+ months being the most typical.  Most lenders are [...]