Twin Cities Market Update 9.13.11

With some September data in the mix, seller activity showed a continuation of its intermediate-term holding pattern, with 14.3 percent fewer listings than the same week in 2010. The 1,313 new listings were more or less on pace with their 3-month 12.0 percent average decline. Similarly, buyer activity continued to post large gains over the […]

A wonderful experience!

Kerby and I had the opportunity to help our friends, Dan and Jen, purchase their first home. We had a great personal consultation at our office, going over their questionnaire and discussing their needs, priorities and desires for the home. After setting them up on a pesonalized home search, we did the rounds and checked […]

Housing Trend Patterns Continue

We are now up to 14 consecutive weeks of accelerating inventory attrition. Let’s go out on a limb and call this a pattern. For the current period, the number of active listings was down 20.6 percent to 24,047 properties. That’s the largest inventory decline in nearly eight years. The metric is now back around first-quarter […]

Average Delinquency+Foreclosure at 599 Days

The average mortgage loan in foreclosure has been delinquent for 599 days, according to Lender Processing Services (LPS). That’s a record for the company’s regular monthly study on mortgage performance trends. At the end of July, LPS counted 2.2 million loans in foreclosure and nearly 1.9 million that were over 90 days past due but […]

Still Looking For A Home?

Twin Cities home sellers continued to list fewer properties than last year at this time, as new listings were down 11.8 percent to 1,342. That makes for 11 consecutive weeks of declines. Meanwhile, buyer activity was up 53.3 percent over last year, the largest increase in 12 weeks and the 15th consecutive week of double-digit […]

What To Be Aware Of When Shopping For A Mortgage

Shopping for a mortgage is one of the most important steps involved in purchasing your next home. Since the terms and conditions that you agree to will impact your financial future for years to come, it is vital that you take the necessary time to research and compare the best packages available to you. Many […]

Housing Market Moving Toward a Balance

As the final days of summer start to wane, Twin Cities home buyers posted their 14th consecutive week of double-digit, year-over-year gains. For the week ending August 13, there were 47.4 percent more purchase agreements signed than during the same week last year. A total of 952 buyers entered contract. Sellers continued their slowdown, introducing […]

Don’t Miss this Mortgage Market Update

Mortgage rates drop to historic lows driven by fear of European a financial collapse and recession and continued weak labor and economic news here in the US. FHA 30 year fixed: 3.75%* Conventional 30 year fixed: 4.00%* The Labor Department reported today that more than half of U.S. states in July saw increased unemployment rates. […]

Homeownership: Still the American Dream

Yesterday, Fannie Mae released their National Housing Survey for the second quarter of 2011. They survey the American public on a multitude of questions concerning today’s housing market. Each quarter, we like to pull out some of the findings we deem most interesting. Here they are for the most recent report: Most Important Reasons to […]