Minneapolis tornadoes!

Dear Minneapolis, Fridley, Columbia Heights and all other residents affected by yesterday’s tornadoes: We are deeply moved by the losses of our friends and community members due to the storms that happened yesterday. Our home was on the edge of the storm and were hit by a flash flood and hail, but thankfully, no further […]

Sick of rent? Is home ownership REALLY out of reach??

Today the FHA loan (a great product for first time buyers) requires a 3.5% down payment. If you look at the West Metro market right now, there are LOTS of 3 bedroom homes at or under $150k that you could snag. With your 3.5% down (roughly 5,000.00 at a $150,000 purchase price) you could be a home […]

Investors… are you one?

I (Kerby) have been working with a number of investors over the past three years. It has been a bunch of fun learning the in’s and out’s and helping people make some pretty good cash while doing it. The property we most recently did was a nice 3 bed, 2 bath place in St. Louis Park. This living […]

Even those who would say to rent say, ‘Now is the time to buy a home!’

Business School professors Eli Beracha of East Carolina University and Ken H. Johnson of Florida International University have done extensive research on which makes more sense financially: to rent or own a home. They published, Lessons from Over 30 Years of Buy versus Rent Decisions: Is the American Dream Always Wise? In their paper, the professors do […]

Wondering what’s going on in the Market?

General Twin Cities & West Metro Market Update Although overall purchase activity was down, overall pending sales for the month were the highest they’ve been since last April and the number of foreclosure pending sales increased by 31.0 percent. Traditional (non-distressed) sales were down 39.0 percent while short sales were down 11.4 percent. Traditional sales […]

Is it possible to buy a home with $100 down?

YES! As far as we know, people are buying a home with a $100 down payment ONLY. How is this possible?  Go to this website:  hudhomestore.com  If you are an “owner occupant,” there are HUD homes available. You could negotiate to have the seller pay 6% of your closing costs, which covers just about all the […]

5 Reasons You Should Consider Selling Now

If you plan on moving anytime in 2011, you should strongly consider selling your house now rather than waiting. Here are five reasons why: 1.) This is when your house will get the most exposure  The spring, and particularly the month of May, is when most buyers enter the real estate market. This surge of […]

Twin Cities’ Housing Market Update

General Market Inventory levels dropped 10.8 percent from last year, but there are still 23,265 homes on the market for buyers to choose from in the Twin Cities’ metro area. Inventory overall has slowly been creeping up. Average days on the market for homes is about 152 getting about 90% of original list price; so […]

Almost 14,000 Houses Sold Yesterday

One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an “annual rate of 5.10 million”. That’s an average of 13,973 every day – 365 days a […]

Twin Cities’ Housing Market 5.4.11

Buyer activity was down only 2.3 percent compared to the same week in 2008. It’s still vastly lower than last year, but that is due to the elevated activity from the incentives. The gap between this year’s and last year’s Active Listings for Sale has been growing for 10 straight weeks. There is also a […]