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Twin Cities Home Sales Surge to 2nd Highest Since 2006

April 30, 2012 by Leave a Comment
pending sales - twin cities real estate

Twin Cities home sales for the week ending April 21, 2012 hit 1,281 signed contracts, which is  the 2nd highest level since 2006.  The highest week was the week ending May 1, 2010 (1,469) and was spurred on by the expiration of the home buyer tax credit.   The surge of home sales continues and shows no signs of slowing down.  Buyer activity remains very strong while potential home sellers seem reluctant to list their homes for sale, which is leading to more multiple offers and a feeding frenzy on … [Read more...]

Filed Under: Blog, Featured Blog Posts, Info for Buyers, Info for Sellers, Market Stats, tax credits

Twin Cities Buyer Activity Still Down 40% Vs. Last Year

October 4, 2010 by Leave a Comment
Twin Cities Showing Appointments

Twin Cities home buyer activity is still substantially lagging last year at this time.  For the last 5 consecutive months we've seen home showing activity down approximately 40% versus the same time last year. Twin Cities Showing Activity How well do showing appointments correlate with sales?  Very, very, very well. Since showings happen before offers (usually!), they provide us a little bit of a leading indicator into future sales activity.  Pending homes sales have been down about 40% each week since … [Read more...]

Filed Under: Crystal Ball Projections, Foreclosures and Short Sales, Info for Buyers, Market Stats, Pictures!, tax credits Tagged With: , ,

Minnesota Offers $2 Million in Energy Saver Rebates

September 30, 2010 by Leave a Comment

An additional $2 million in Energy Saver Rebates is available for homeowners who install eligible energy-saving home improvements. These improvements must be financed using a Fix-up Fund loan, which allows homeowners finance the cost of making energy efficient upgrades. Rebates up to $10,000 are available for application on a first-come, first-served basis. More information and an Energy Saver Rebate application are available at www.mnhousing.gov. Or call Minnesota Housing at 651-296-8215 or 800-710-8871. … [Read more...]

Filed Under: Energy Efficiency, special financing, tax credits

8 Predictions for 2010 Twin Cities Housing Market – August Update

August 24, 2010 by 3 Comments

Below you will find my predictions from a January 7, 2010 blog post and my comments on each of those predictions as of August 24, 2010: Foreclosures will continue to come on the market and many will be scooped up quickly with multiple offers. Correct!  This has been the case so far this year, though this was certainly the easiest prediction I made - the months supply of foreclosures is still very low - 2.8 months currently - but has ticked up a little in the last few months.  Unless we see 4+ months supply … [Read more...]

Filed Under: Community Issues, Crystal Ball Projections, Foreclosures and Short Sales, Info for Buyers, Info for Sellers, Market Stats, Mortgage Rates, Opinion, Personal Experiences, Short Sales, special financing, tax credits Tagged With:

Twin Cities Sudden Buyer's Market

August 11, 2010 by Leave a Comment
August 2010 Supply Demand Ratio - Twin Cities

In just a few short months we've seen the number of houses available for sale per buyer (8.64) climb to levels we have not seen since late 2008 and up a whopping 63% from August last year! With buyer demand having slackened so substantially after the tax credit expiration even a relatively normal amount of houses for sale are spread amongst far fewer buyers, giving buyers more choice (and in theory more negotiating power) than they have had in some time.  Normally we see spikes in the SDR in the November … [Read more...]

Filed Under: Crystal Ball Projections, Info for Buyers, Info for Sellers, Market Stats, tax credits Tagged With: , , ,

The Post Tax Credit Property Purchasing Plummet

August 10, 2010 by Leave a Comment
Twin Cities Showing Appointments

Have we found the "New Normal" in Twin Cities real estate activity?  I have to image we have.  For more than 3 months we've seen showing activity down 35% - 40% from the year prior: Twin Cities Pending Sales, which are signed contracts between a buyer and a seller, are experiencing a similar magnitude of decline as showing activity, which I think supports my belief that we're in an extended period of diminished demand: While both buyer and seller activity is down post-credit, buyer activity is down more … [Read more...]

Filed Under: Community Issues, Crystal Ball Projections, Foreclosures and Short Sales, Info for Buyers, Info for Sellers, Market Stats, tax credits

Twin Cities Pending Home Sales Continue Drop

June 8, 2010 by Leave a Comment
Twin Cities Pending Home Sales

Last week I discussed the precipitous drop in Twin Cities Pending Home Sales activity.  Today MAAR released another week's activity report and the extended drop in buyer activity continues. While we had a few more pending sales than the week prior, we're still 34.6% below the same week last year.  This great disparity is no doubt the continued hangover from the expiration of the tax credit but this hangover is quickly becoming a wicked one.  These are historically the busiest weeks of the year and instead our … [Read more...]

Filed Under: Info for Buyers, Info for Sellers, Market Stats, tax credits Tagged With: ,

Twin Cities Home Sales Have Best Week Since 2005

May 3, 2010 by 1 Comment

Today the Minneapolis Area Association of REALTORS released their weekly update of housing statistics for the Twin Cities and showed that for the week ending 4/24/2010, there were 1184 properties in the 13 county region that went to "Pending" status, meaning an offer has been accepted by the seller and the property is no longer available for showings. While this is the strongest number of the year and very close to the highest weekly numbers seen in 2009, it looks like the final week of April will go down as the … [Read more...]

Filed Under: Foreclosures and Short Sales, Info for Buyers, Info for Sellers, Market Stats, Opinion, Personal Experiences, tax credits Tagged With: , ,

$8000 Tax Credit Worth Prison Time?

April 30, 2010 by Leave a Comment

With the tax credit deadline for signed purchase agreements being today, I know there are a few buyers scurrying around trying their last efforts to find a home to buy in time.  From what attorneys have told me, contracts need to be fully executed (signed) by both Buyer and Seller before 11:59pm today and then close by the end of June. In cases of a short sale, the 3rd party approval that's required is treated just like any other contingency - so long as the purchase agreement is fully executed by today, bank … [Read more...]

Filed Under: Info for Buyers, Opinion, tax credits Tagged With: , , ,

First Time Buyer Homes In Short Supply In Twin Cities

April 26, 2010 by 2 Comments

I have two buyers in the $125,000 - $150,ooo price range that are struggling to find houses when just a few months ago there was a lot more inventory to choose from.  This weekend my clients wanted to see a total of 11 houses - I found out that 4 were already sold subject to inspection and of the remaining 7, only 2 had no offers on them.  One of my buyers has offered on 6 different homes and been outbid by others every time.  These experiences are quite common in my office right now! While our local statistics … [Read more...]

Filed Under: Foreclosures and Short Sales, Info for Buyers, Market Stats, Opinion, Personal Experiences, tax credits Tagged With: , ,

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This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.