Minneapolis, MN

The State of Real Estate: Edina and Southwest Minneapolis: January 2012

02-07-12

Ben Kolkman Real Estate Author & REALTOR Southwest Minneapolis & Edina Minnesota

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Office: (612) 599-4161

With January under our belt, I'm glad to announce, the Real Estate market in Edina and Southwest Minneapolis is really improving and shows signs of real recovery.

"Recovery" is a work I'm careful about using. For the past 5 or 6 years we've encountered waves of new crises, foreclosure crisis, bank crisis, credit crisis, economic crisis... crushing any recovery at the time. But strong fundamentals continue to fuel a strong Real Estate market in Edina and Southwest Minneapolis.

January has been beautiful in the Twin Cities, maybe it's the weather, or the good employment numbers, or the fact that people simply can't wait any longer to buy a home. In any case buyer activity is growing. Coupled with declines in listing activity, the result is improved inventory levels.

What does that mean for you? Not much if your buying or selling today. The market is still fundamentally the same, buyers want a great home in a great neighborhood for less and sellers are trying to figure out how to compete with short sales, foreclosures. The good news is that over the long run I believe median home prices are stabilizing and that demand for homes is rising. Maybe in a year or two we will feel the effects as the market begins to balance out. For now we are still squarely in a buyers market.

Some very interesting trends to watch...

1) New Home Construction: In the Edina and Southwest Minneapolis real estate market that means tear-downs, new homes built after tearing down the home that was there before. This in-fill or tear-down activity has not slowed down in spite of the slow market in general. One reason, cheaper land. As the purchase price of the original home and lot has been hammered, the end result is a better deal on the new construction home.

2) The best block always wins. As buyer activity improves across the Edina and Southwest Minneapolis real estate market you'll find areas where homes seem to always sell fast. The old adage applies here, "Location, Location, Location" everything else being equal buyers always buy into the best neighborhood they can afford.

3) Interest Rates: I'm so sick of saying this, but, interest rates are so low! If you need a reason to buy this is it. Do not wait, buy now. Even if prices do drop, a small tic up in the interest rates will balance out the savings.

Loving real estate Edina and Southwest Minneapolis, and loving this early spring time weather!

Ben Kolkman

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Minneapolis Lakes Real Estate

02-04-12

Eric Hempler

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Office: (763) 529-9060

Home prices in the Minneapolis Lakes Area have fallen 9% since the Housing Market Peak of 2006 and have appreciated 4% since 2002 to 2011.

minneapolis lakes, real estate, housing market, trends, home prices, inventory, sales

The month of January put the Minneapolis Lakes Area in to a very strong buyers market with an absorption rate of 10.33 Months of Inventory and is trending in a Balanced Market at 7.4 Months of Inventory. The Median Sale Price on the other hand have been trending fairly flat for the last six months at about $280-$285 thousand.

minneapolis lakes, homes prices, inventory, home sales

Homes under $400,000 are currently in a Seller's Market as of the date of this post with the exception of the 100-125 thousand dollar price range. Although, this could be an anomaly due to various data points.

Homes above $500,000 have more than a years worth of inventory. You can also see a breakdown in the charts below for homes above $500,000.

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21.5% Chance that Searching for Minneapolis Real Estate on Zillow, Trulia and Realtor.com Will Mean You Don't Find Your Dream Home

02-04-12

Danny Dietl Buy|Sell|Lease iMetroProperty.com

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Office: (612) 306-6676

Zillow, Trulia and Realtor.com are what are known as 3rd party aggregators which means they are not the originating source of the listing data they advertise. Instead, they pull feeds from all over the internet and a lot of that info is inaccurate. That is a secondary point, however. The main point is that Edina Realty, one of the largest real estate brokerages in the Midwest has halted all syndication to these 3 sites. They killed the feed. That means Edina Reaty’s listings are no longer found there. Edina Realty holds around a 21.5% market share of listings in MN and Western WI. So, if you are looking for Minneapolis real estate, you need to look in a different place then these aggregator sites or risk never finding the house you were meant to.

The only home finding websites that work in MN anymore are the Broker Reciprocity websites. Broker Reciprocity is a business program where brokers grant each other permission to display their listings on each other’s' web sites. Brokers who participate in the program can display all active listings of all participating members of the program. If a broker chooses not to participate, no other broker will be permitted to display that brokers listings.

As a reader of this blog, you have access to an invite only offering called the Home Buyers Scouting Report®. In my opinion, it is the premier Broker Reciprocity home finding tool. Only a very small percentage of homebuyers do not use the internet to assist in finding their next home. In Minnesota, it’s imperative that the website that you use has the data and tools that you need to find what you’re looking for and make an informed decision. If you’d like to see the Home Buyer Scouting Report® in action drop me an email and I’ll get you registered or click the box below. You’ll have all the listings from all the companies in one, easy to use, awesome, password protected site.

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New Hope MN Home for Sale - Bank Owned Foreclosure - Hurry!

01-30-12

Danny Dietl Buy|Sell|Lease iMetroProperty.com

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Office: (612) 306-6676

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Danny Dietl

iMetro Property

612-306-6676

danny@imetroproperty.com

MLS#: 4110718

Licensed In:
MN

Information valid for the date of this posting only. Please contact us for the most current information and status of this property.

9008 36th Avenue

New Hope, MN

Scan with your smartphone & take me with you.

Solid walkout rambler with 3 bedrooms

$ Click for current price

3 BEDROOMS

1 BATHROOMS (1 full)

1478 Square Feet

Solid walkout rambler with 3 bedrooms on the main floor, hardwood floors throughout, eat-in kitchen, newer mechanicals, and central air. Large living w/ nice natural sun light. Lower level is a great space for amusement or family room.

L2L Property Websites AR

iMetro Property is a licensed real estate broker in MN. We are a proud provider of Equal Opportunity and Fair Housing. All rights reserved. We want to convey clear and concise facts regarding listings and other information we publish for public use. We will make every effort to aquire, maintain and provide acurate and meaningful data. As we indicate on all of your listings the information is deemed reliable, but not guaranteed. All property information is subject to errors and omissions prior to changes.

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What should I be doing to prepare for buying an investment property

01-29-12

Joseph Houghton

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Office: (763) 300-2702

Mobile: (763) 300-2702

If your working with an Realtor already, they should have some lenders that would analyze the specifics of your financial situation appropriately. Planning ahead and educating yourself on all aspects of this investments is a very good idea. Make certain you are being represented by an agent that deals with short sales and foreclosures as well as investment properties. Ask them questions such as: have you listed bank owned properties and short sales? How many homes have you sold in the past year 5 years 10 years etc and how many homes they show to they're average buyer. Do they work nights, weekends etc. Do they own any rental properties themselves. These are just a few tips, call or email me privately and I will be glad to give you the complete low down on what you should be doing ahead of time to prepare your self for this exciting endeavor

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