Tuesday, April 3rd, 2012

The last time you were at the doctor, your vital signs were checked – heart rate, pulse, temperature and blood pressure. Progress was documented and valuable insights were gained, whether it was a routine visit or one of many checks during an extended hospital stay. The housing market has been in and out of intensive care for the past several years. Monitoring vitals matters, and that’s what you’ll find on the following pages. The pulse of today’s market indicates that we may be getting ready to leave the ICU. So if you could just please pull up your sleeve, let’s check your blood pressure.

In the Twin Cities region, for the week ending March 24:

  • New Listings increased 2.2% to 1,414
  • Pending Sales increased 30.2% to 1,052
  • Inventory decreased 27.3% to 17,193

For the month of February:

  • Median Sales Price decreased 1.4% to $138,000
  • Days on Market decreased 9.0% to 145
  • Percent of Original List Price Received increased 2.5% to 90.6%
  • Months Supply of Inventory decreased 34.8% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |
Saturday, March 31st, 2012

Loans of up to $18,000 are being offered to homeowners with no interest, no monthly payments and repayment deferred until home is sold or transferred.

Full Story: St. Paul Pioneer Press

Thursday, March 29th, 2012

February pending sales up 9.2% from year ago

By Inman News

The National Association of Realtors is predicting existing-home sales will jump 7 to 10 percent in 2012 to the highest level in five years, based on an “uneven but higher sales pattern” so far this year.

Pending home sales fell a seasonally adjusted 0.5 percent from January to February, which was up 9.2 percent from the same time a year ago, NAR said today in releasing its latest Pending Home Sales Index.

Last week, NAR reported a similar trend for existing-home sales, which were down 0.9 percent from January to February, but up 8.8 percent from a year ago.

Click Here For The Full Story

Thursday, March 29th, 2012

Over the past several years, millions of homeowners have had billions of dollars in mortgage debt forgiven, either through foreclosure, refinancing or short sales. It’s important for real estate professionals and homeowners to understand that mortgage debt forgiveness has significant tax consequences.

Here are 10 things the Internal Revenue Service says you should know about mortgage debt forgiveness:

Click Here For The Full Story

Thursday, March 29th, 2012

By Tara-Nicholle Nelson

If you sat down and tried to call up a mental picture of a smart home buyer, the person in your mind’s eye might be sitting in front of the computer, calculator at hand, running numbers and weighing out pros and cons before arriving at a sensible decision. But ask any agent: even the smartest of their buyer clients looks and feels nothing like this image. Once the house hunt begins or the offer is signed, emotions start to fray, tensions run high and stress-induced gray hairs begin to multiply (and/or get pulled out).

Your home is the largest purchase you’ll ever make. So it might seem that emotional side effects like panic and fear are inevitable. But they’re not. You do have the power to manage your emotions and have a relatively blissed-out homebuying experience. And you should seize that power; doing so will not only minimize the discomfort, it will also keep panic and fear from fouling up your decision-making.

Let me hand you some keys – the keys to having a Zen home buying experience:

Click Here For The Full Story