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 […]

Home sales and listings are balancing out.

While day traders continue along their roller coaster ride, 997 Twin Cities home buyers made the smart investment in real estate this past week. That’s 40.0 percent more than this week last year. As this year’s pending sales trend line rounds off its seasonal peak, you’ll notice that purchase demand is coming back in line […]

Wall Street is faltering but the housing market is flourishing.

Despite the anxiety on Wall Street this week, home buyers on Main Street continued along their merry way. Twin Citizens entered into 1,029 purchase agreements, up 49.1 percent from the 690 seen during the same week in 2010. Sellers, conversely, introduced only 1,323 new properties to the market for a 15.8 percent decline from last […]

DIY Guru Gets Broker Help

A founder of a website dedicated to direct sales of homes by their owners has sold his two-bedroom apartment in Chelsea for $2.15 million—with the help of a real-estate broker and a standard 6% commission. Colby Sambrotto, a founder and former chief operating officer of ForSalebyOwner.com, a large website for owner sales, spent six months […]

June Pending Home Sales Rise

For the week ending July 23, Twin Cities home-buying activity increased 54.3 percent while home-listing activity declined 13.2 percent compared to the same week in 2010. Buyers entered into 1,040 purchase agreements while sellers brought 1,380 new properties onto the market. According to the NAR, “Existing-home sales this year are expected to total 5.0 million, […]

Balance Lies Ahead in MSP Housing Market

Twin Cities home sellers brought 1,478 properties to the market, or 8.7 percent fewer than the same week last year. Buyers signed 1,064 purchase agreements, or 59.8 percent more than last year. That’s the largest year-over-year increase in pending sales since the third week in November 2008, greater than any single week during the 2009 […]

Why They Are Saying to Buy A Home Now

Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home! Here are the four articles and a breakdown as to why the advice makes sense. The Wall Street Journal: Why It’s […]

What is the housing market like?

Overall Market:  Home sales in the Twin Cities continue to show strong year-over-year growth. For the week ending July 9, there were 788 pending sales, an increase of 40.2 percent from a year ago. The amount of signed purchase agreements seen in recent weeks is similar to the activity for the same weeks in the […]

Home Sales Continue to Grow

Home sales in the Twin Cities continue to show strong year-over-year growth. For the week ending July 9, there were 788 pending sales, an increase of 40.2 percent from a year ago. The amount of signed purchase agreements seen in recent weeks is similar to the activity for the same weeks in the summer of […]