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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: , , ,

No Houses Left for First Time Buyers

October 26, 2009 by 5 Comments
Minneapolis Housing Supply by Price Point - October 2009

In the last few months we've seen a flurry of sales as first time buyers are trying to close on a home purchase before the $8000 tax credit expires on November 30th (maybe). This has largely lead to the precipitous decline of available inventory on the under $190k and brought Months supply of homes in the 1st time buyer category down as much as 60%! This has been seen expecially strong in the Lender Mediated category, and particularly in the Bank Owned segment: � While it is quite possible that the tax … [Read more...]

Filed Under: Community Issues, Info for Buyers, Info for Sellers, Market Stats, Opinion Tagged With: , , , ,

HUD: Tax Credit Can Be Used on Closing Costs

May 29, 2009 by Leave a Comment

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today. Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 … [Read more...]

Filed Under: Community Issues, Info for Buyers, Mortgage Rates Tagged With: , , ,

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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.