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What the news isn't reporting is that the number of traditional homes for sale is actually pretty low. You would have to go back to 2005 to find a 5/1 ratio of sellers for every buyer. In other words, for every 5 sellers there is one buyer. Just a year ago we were closer to 10/1 in this category. Ten sellers for every buyer.
A buyer that doesn't want a foreclosure doesn't have nearly the options they ...
Posted by
Wade Hermes
on 08/04/2009
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Afraid to buy that foreclosed property that is being sold "as-is"? Don't be! You don't need to take out one loan to buy the house and then, spend the next year spending every free dime fixing it up yourself. There are loans available that help buyers get the best of both worlds. You will hear them referred to as "fix-up" loans or "renovation" loans. They work like this....Find ...
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During July, I've done a lot of showing in Scott County including town homes below $150 and single family homes below $300. While there is a good amount of inventory, I noted that especially among short-sale and foreclosure properties, that they were selling quickly and many of them have multiple back-up offers stacked up waiting for a bank to respond to the original accepted offer. ...
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This article by Suzanne Ziegler in Sunday's Home section of the Star Tribune offered a lot of insight into how the new appraisal process rules are effecting homes sales. My father and I in our business have had several problems with appraisals as well over the past several weeks and really hope the process gets straightened out soon.
Posted by
Dana Oelkers
on 08/04/2009
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For the first time since the foreclosure malady hit our market, we can see a defined downward trend in the number of foreclosed homes for sale! See Figure 1 here:
http://www.mplsrealtor.com/downloads/market/FSS/fss.pdf
The caution; comes from the information in Figure 2 of the same pdf, depicting the number of homes in short sale status. Being in the short sale category can ...
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To encourage residents to install new, energy efficient furnaces and air conditioning systems, the City of Woodbury Housing and Redevelopment Authority (HRA) is expanding its "Woodbury Goes Green" program to include a furnace replacement incentive.
As of June 1, all Woodbury residents are eligible for a $250 discount off a 95 percent Annual Fuel Utilization Efficiency (AFUE) furnace and/or a $250 ...
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Although to date 46% of closed transactions are lender mediated foreclosures and short sales, the broader real estate market in the 13 county metro area of Minnesota has seen positive signs. Of course, there are areas destined for a much longer road to recovery than others. Nonetheless, closed transactions are up significantly year over year and monthly supply of housing inventory has dramatically ...
We just released our Q2-2009 Update to "Foreclosures and Short Sales in the Twin Cities Housing Market" this morning. Here's a breakdown of the key takeaways we discovered:
Takeaway #1: After reaching a historic peak in February, the number of foreclosures and short sales available for sale has fallen by more than 2,100 units to 6,685 at the start of July-the fewest available since March 2008. We're ...
Posted by
Sheri Anderson
on 08/04/2009