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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The #1 thing to know if you are buying or selling a home this year

There is a big shortage of homes for sale! Data from Minneapolis Area Association of Realtors Nationally, 2017 started with the lowest supply of homes for sale since 1999. That is a 3.6 months supply, which means it would take 3.6 months to sell them all at the current rate of sales. The market is.

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2016 Annual Twin Cities Housing Market Review

Annual 2016 closed residential real estate sales for the combined Minneapolis-St. Paul metropolitan area were 6.2% ahead of 2015, with steady gains the last two years. After an encouraging small rise in new listings the last two years, the number of new listings in 2016 dropped 1.1% behind the previous year. With an increase in.

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How interest rate impacts your buying power

Mortgage interest rates have been a big topic of conversation lately, and with the Fed raising rates last week it is becoming more than just talk. But what difference does that make on the home you can afford to buy? If you want to keep your monthly principal and interest payment under $1,000, you could.

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Where do 100+ experts predict home prices will be in 5 years?

I had a call from consumer last week who wanted to talk about where the real estate market is headed, worried that we are in another housing bubble. Although we never really know how valid predictions may be until we look back on them, I posted earlier this year about the very same concern… interestingly.

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Minnesota has one of the highest rates of home ownership in the nation

There has been talk of homeownership rates declining as owning a home is no longer the essential part of the American Dream it once was. However, as you can see in the map below from Keeping Current Matters, homeownership is strong in much of the country. All of the 'blue' states below have homeownership rates.

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Where might home prices be if the bubble and bust didn’t occur?

Looking at the roller coaster prices of the last ten years on the chart below with data from the National Association of Realtors it is easy to get concerned that prices are getting into dangerous territory again. But if we look at what was normal appreciation from 1987 to 1999… 3.6% per year… and apply.

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Is the Housing Affordability Index getting scary low?

First of all, what is the Housing Affordability Index anyway and why does it matter?  Here is how the National Association of Realtors defines the index…   “The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level.

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