Stagers take a bigger role as demand remains high in Twin Cities home market

Homes in the Twin Cities are nearly selling themselves as the real estate market remains strong, but home stagers are still in demand. Supply of homes for sale remains tight, but buyers are still looking for value and staging your home for sale is as important as ever. Home staging used to only be found in the high end real estate market, but home staging has proved effective in attracting buyers at all price levels, decreasing market times, and increasing sales prices. Contact Phil McDermott if... Read more »

Reverse mortgages look like free money, but there’s a price

Reverse mortgages may look like free money, but you do have to pay back a reverse mortgage loan.  Reverse mortgages allow home owners to take advantage of the value or equity built up in your home.  There are many benefits to reverse mortgages, but it is important to understand these loans before you consider or agree to a reverse mortgage.  This article is a good overview of how reverse mortgages work. Full Article-Karaim, R. (2016, Novemeber 23). Reverse mortgages look like free... Read more »

March home sales in Twin Cities were best since 2005

It was the best March for home sellers in the Twin Cities since 2005.  For many buyers the market has become frustrating as supply still lags behind demand for entry level homes.  Home sales prices have continued to climb and market times have decreased. Full Article-Buchta, J. (2017, April 17). March home sales in Twin Cities were best since 2005. Minneapolis Star Tribune. Retrieved from www.startribune.com  Read more »

With fewer homes coming on the market, sales leveled out in the Twin Cities last month

Home sellers are needed to even out the Twin Cities real estate market.  A lack of supply of homes for sale has slowed sales activity, but boosted sales prices for home sellers.  Entry level homes and homes in the first ring suburban homes are in the highest demand. New reports on the Twin Cities housing market cite the increased amount of homes held by investors as rentals as a factor in the short supply of single family homes for sale. Full Article-Buchta, J. (2017, March 15). With fewer... Read more »

Single-family homes take a big jump in September construction

It was the best September for homebuilders in a decade and building permits for single family homes were up 40% from last year.   The increase in single family home construction is a response to the shortage of homes for sale in the Twin Cities market.  Demand for single family homes remains high and the Twin Cities ranks as one of the more undersupplied housing markets in the nation in relative to the jobs created.  An anticipated seasonal decline in listings could accelerate the growth of home... Read more »

Buried inside the region’s real estate data are the winning places that ring the two cities

Home prices in 2016 have reached new heights, but it has been an exceptional year for the suburbs closest to Minneapolis and St. Paul. First ring suburban listings are driving sales and selling in record time. First time buyers and downsizing baby boomers are competing for these first ring suburban homes that are often close to transportation, shopping, and other entertainment. Full Article-Buchta, J. (2016, August 16). Buried inside the region’s real estate data are the winning places that ring... Read more »

Twin Cities home sales fell in July as shortage of properties catches up to market

A shortage of new listings of homes for sale in the Twin Cities has led to a drop in closed home sales for the month of July.  The shortage of available homes for sale has continued to increase the median home sales price which was up 6.6% from last year to $239,900.  Homes priced nearest the median are driving the market with homes priced over $500,000 still lagging behind (days on market, sales activity, and price gains) the near median priced homes of the Twin Cities real estate market. Full... Read more »

Twin Cities market isn’t booming for more expensive homes

The Twin Cities housing market is booming and the median home sales price has reached new heights, but not all segments of the market are experiencing the boom equally.  More expensive homes priced over $350,000 and higher have not been experiencing the boom like the homes priced around the median home sales price.  A smaller buyer pool for more expensive homes along with greater supply, changing demographics and changing homebuyer preferences/priorities have all contributed to a flatter upper... Read more »

Twin Cities home prices reach all-time high a decade after the last did

Twin Cities median home prices of closed homes in June peaked at $242,000. The median sales price was up 5.3% from last year and nearly 2% higher than the previous all-time high set in June of 2006.  The Twin Cities housing market appears to be back on solid ground and strong by most measures. Full Article-Buchta, J. (2016, July 19). Twin Cities home prices reach all-time high a decade after the last did. Minneapolis Star Tribune. Retrieved from www.startribune.com  Read more »

Twin Cities house prices near an all-time high as May sales climbed

The Twin Cities housing market remains unbalanced as housing prices move closer to an all-time high. The inventory shortage of homes for sales seems to be driving the increases, but low interest rates and continued job growth in the Twin Cities are also contributing.   The peak spring sales season may be coming to a close, but indications are that the Twin Cities home market will remain strong. Full Article-Buchta, J. (2016, June 15). Twin Cities house prices near an all-time high as May sales... Read more »