The spring housing market in Minneapolis and the metro area is off to a great start! Open houses are busy like they were 4-5 years ago. Sales are up, inventory is down, and interest rates are great. We are seeing many homes selling in multiple offers again. Buyers will need to have their loan approval ready, and be ready to make quick decisions or they risk losing out on the best homes.
According Read more […]
There is a shift in strategy in the bank owned property market in the Minneapolis home market. In the last few years, part of the big housing problem was that banks were unwilling to work with home owners in trouble making their home payments. The banks were also very stubborn in their process to sell the homes that the bank had taken over through foreclosure. This exacerbated the housing inventory Read more […]
Mortgage rates have dropped dramatically in the last week or so. Currently with good credit scores we are seeing a 30 year conventional mortgage at approximately 5.25% give or take. This is a very low rate based on historic levels. The big question is why have rates dropped, and what will they do in the future?
The reason for the recent drop in rates is that the government strongly believes Read more […]
Today I looked at the numbers of foreclosure sales in Eden Prairie, for the month of October. As I did yesterday I compared these numbers with North Minneapolis homes, sold in October as well.
Based on information from the Regional Multiple Listing Service of Minnesota for the month of October, there were 46 total homes sold in Eden Prairie with 13 marked as foreclosures. Again, this indication Read more […]
How many homes in Eden Prairie are in foreclosure? I wanted to dig up some statistics on foreclosures in Eden Prairie to give an idea of what is happening in the Eden Prairie real estate market compared to another city. Information in the news is good for a broad generalization, but isn’t very accurate for your specific city or neighborhood. To lay the groundwork, the statistics I found, are based Read more […]
I had lunch today with a past client which is always enjoyable, and sometimes is very informative to me. My friend asked me if it was true that you had to put twenty percent down to buy a house these days. With all the turmoil in the finance world, the economy, and various markets it was a very good question. I knew one didn’t need 20% down, but I thought I would make a few calls. Here is Read more […]