Local Real Estate News
Tuesday, January 28th, 2014
Don’t Wait! Move Up to the Home You Always Wanted

by The KCM Crew

Now that the housing market has stabilized, more 1.28 Blog Visualand more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still below 5%.

However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:

Click Here For The Full Article

Bookmark and Share

Orginal Story:Don’t Wait! Move Up to the Home You Always Wanted

Comments Off
Tuesday, January 28th, 2014
Weekly Market Activity – January 28, 2014

 

Some say the big story of 2014 will be higher interest rates, some say it will be more inventory while others say it will be less foreclosure activity. The truth is likely to be an amalgamation of all of the above. The year 2013 was marked by variable but steady job growth, a good leading indicator of market activity. While consumers may be uneasy about higher rates, economic improvements can potentially offset any negative impact on affordability. The seasoned agent will recall a time when plenty of consumers were vying for properties when rates were double and triple what they are now.

In the Twin Cities region, for the week ending January 18:

• New Listings decreased 8.3% to 989

• Pending Sales decreased 24.8% to 591

• Inventory decreased 9.5% to 11,918

For the month of December:

• Median Sales Price increased 13.1% to $190,050

• Days on Market decreased 20.4% to 86

• Percent of Original List Price Received increased 1.0% to 94.7%

• Months Supply of Inventory decreased 15.6% to 2.7

 

Click Here to View Full Weekly Activity Report

Bookmark and Share

Orginal Story:Weekly Market Activity – January 28, 2014

Posted in Weekly Market Activity Reports | Comments Off
Monday, January 27th, 2014
Home Sales Reach Seven Year High

by The KCM Crew

There are many naysayers declaring that the housing market is still challenged. Young adults are burdened with too much student debt. Interest rate increases are killing demand. Homeownership is no longer seen as part of the American Dream.

We just want to let these naysayers know three things: 13,945 houses sold yesterday, 13,945 will sell today and 13,945 will sell tomorrow. 13,945!

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, there were 5.09 million homes sold in 2013. Divide that number by 365 (days in a year) and we can see that, on average, almost 14,000 homes sell every day.

Click Here For The Full Article

Bookmark and Share

Orginal Story:Home Sales Reach Seven Year High

Comments Off
Friday, January 24th, 2014
Monthly Skinny – January 2014

Bookmark and Share

Orginal Story:Monthly Skinny – January 2014

Comments Off
Thursday, January 23rd, 2014
Weekly Market Activity Report – January 21, 2014
WMAR
The years of 2012 and 2013 are going to be noted as a period of recovery for housing, and 2014 should prove to be more of the same but perhaps with not as much force. As we begin to look for signs of a stabilized residential real estate market, we may see fewer sales than in recent years, but these sales should be of a higher quality in that they will have been made with stronger lending standards to people with stronger jobs in a stronger economy. Even this early in the year, we
should begin to see signs of new inventory coming onto the market with a more balanced months’ supply of inventory and well-paced market times.

 

In the Twin Cities region, for the week ending January 11:
• New Listings decreased 14.6% to 958
• Pending Sales decreased 19.5% to 556
• Inventory decreased 9.8% to 11,810

 

For the month of December:
• Median Sales Price increased 13.1% to $190,000
• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7

 

Bookmark and Share

Orginal Story:Weekly Market Activity Report – January 21, 2014

Posted in Weekly Market Activity Reports | Comments Off