April home sales in the Twin Cities were even stronger than March's upswing, according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc.
There were 5,211 pending sales in April, up 23.8% from last April. This is the highest showing of signed purchase agreements in April since 2005 and the tenth consecutive month of year-over-year increases.
It’s all about low rates and excellent affordability. If you’re in the position to buy a home, opportunities are available and the time for action is now.
Friday, May 29, 2009
Friday, May 22, 2009
Buyer's Market Continues
The most important tip in economics is to buy low and sell high. Of course, that is easier said than done.
Nobody knows when the housing market will hit rock bottom or if it already has. Everyone wants to know when the bottom of the market will occur, however, we’re not going to know, until the bottom of the market is past by a month or by a quarter or by a half-a-year depending on what stats are being looked at.
What is clear, however, is that this is a buyer’s market for housing.
If you find a good house, buy it now because by the time we know the bottom of the market has come, it will have come and gone.
Nobody knows when the housing market will hit rock bottom or if it already has. Everyone wants to know when the bottom of the market will occur, however, we’re not going to know, until the bottom of the market is past by a month or by a quarter or by a half-a-year depending on what stats are being looked at.
What is clear, however, is that this is a buyer’s market for housing.
If you find a good house, buy it now because by the time we know the bottom of the market has come, it will have come and gone.
Tuesday, May 19, 2009
Why Use A Realtor?
All real estate licensees are not the same. Only real estate licensees who are members of local, state and national REALTOR® associations and agree to act under and adhere to Professional Standards of Practice and strict Code of Ethics are called REALTORS®. REALTORS® are committed to treat all parties to a transaction honestly, and proudly display their REALTOR “R” logo.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Do it right. Use a REALTOR®.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Do it right. Use a REALTOR®.
Friday, May 15, 2009
Strong Home Sales Continue Into Spring
Based on data from the Regional MLS of Minnesota, Inc. April home sales in the Twin Cities were even stronger than March's upswing according to the Minneapolis Area Association of Realtors. There were 5,211 pending sales in April, up 23.8 percent from a year ago. This is the highest showing of signed purchase agreements since April of '05 and the tenth consecutive month of year-over-year increases. Of the month's pending sales 46% were lender-mediated foreclosures and short sales-down from the last few months as more traditional properties are sold during the spring selling season but up from last year at this time.
Wednesday, May 13, 2009
Pending Home Sales On The Rise
Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment,” he said. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”
Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment,” he said. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”
Friday, May 08, 2009
Housing Sales Spring Back in the Metro Area
The 2009 spring selling season appears to be off to a strong start as indicated from the 13 county metro housing statistics released by the Saint Paul Area Association of REALTORS®.
Closed home sales were up 14.25% from one year ago. There was also an increase in the number of mortgage applications compared to last year. Some contributing factors include the first time homebuyers $8,000 tax credit and historically low interest rates. It appears as though buyers are feeling more confident, moving off the sidelines and purchasing homes again.
Closed home sales were up 14.25% from one year ago. There was also an increase in the number of mortgage applications compared to last year. Some contributing factors include the first time homebuyers $8,000 tax credit and historically low interest rates. It appears as though buyers are feeling more confident, moving off the sidelines and purchasing homes again.
Monday, May 04, 2009
First Time Home Buyers Give Market A Boost!
Affordable home prices combined with historically low mortgage rates and first-time buyer's tax credit are fueling the sudden real estate turnaround. We've heard of open houses with a home that was priced in the $110,000 - $115,000 range getting 30+ people through in two hours. And many homes are now selling in multiple offer scenarios. Our optimism is supported by hard numbers. Pending home sales have jumped 20% compared to the same period a year ago. Chris Galler heads The Minnesota Association of Realtors® and says the housing market in the $100,000 to $250,000 price arena is extremely hot right now.
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