When is the best time to find foreclosure listings?

A client recently asked me where all the foreclosure listings have gone. If you look at the chart below, you can see that in 2009 and 2011 there were months when there more foreclosure sales than traditional sales. That time is gone. In August only 2.1% of sales were foreclosures. But regardless of the market.

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What home price ranges have increased in value the most?

The latest home sales report from the National Association of Realtors puts the median existing-home price at an annual increase of 5.6%. CoreLogic revealed that national home prices have increased by 6.7% and the Minneapolis Area Association of Realtors reported an increase of 6.8% year-over-year in August. CoreLogic broke it down even more, looking at.

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5 reasons this fall is a good time to list your home for sale

1. Demand Is Strong The latest data released by the Minneapolis Area Association of Realtors shows buyer demand is still strong and conditions are favorable for sellers… with only a 2.5 month supply of homes for sale, average 48 days on market until pended, and 98.5% of list price received. Buyers are ready, willing, and.

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August 2017 real estate market update… foreclosures just 2.1% of sales

The total number of homes for sale in the Twin Cities real estate market continues to hang below previous years, with August 2017 falling 16.7% below August 2016. As dramatic as the shortage of overall inventory has been, what is perhaps even more dramatic is looking at how the percentage of foreclosure and short sales.

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How long do families usually stay in their homes?

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008),.

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10 reasons there is a shortage of homes for sale in Minneapolis, MN

People are staying in their homes longer – in 2008, people bought and sold after staying in their homes an average of 6 years… in 2016 it was 10 years Renters are now buying, creating high demand – increasing rents and low interest rates mean it often makes more sense to buy than rent and renters.

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New Construction Teardowns… and where to find them by price range

Pent-up demand and low interest rates, combined with increased demand for desirable neighborhoods and school districts have been driving a teardown craze which has been going on for a number of years. Two neighborhoods at the epicenter of this craze are the Minneapolis Linden Hills neighborhood and the city of Edina. My experiences with teardowns.

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Why is there such a shortage of homes for sale?

As with most things, the current housing supply shortage can't be explained by just one thing… there are multiple factors involved, many of them after-effects of the burst of the housing bubble about 10 years ago. 1. People aren't moving as often One of the contributing factors is people simply aren't moving as often as.

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It’s spring… 10 years after the foreclosure crisis

CoreLogic just released a report looking back on the national foreclosure crisis… United States Residential Foreclosure Crisis: 10 Years Later. That crisis is still affecting both buyers and sellers today, who are much more informed and cautious. It peaked in 2010, and over 7.7 million families lost their homes throughout the period between 2008 and.

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