Monday, April 30th, 2012

 

Closing on a house can be joyful or horrific. Follow this advice for a smooth settlement.

By Polyana da Costa of Bankrate.com

You finally found the house of your dreams. You signed a contract and got approved for a mortgage. You’ve even hired the movers. Now comes the most important part: the closing.

In an ideal world, closing should be a mere formality, where homebuyer and seller sign on the dotted lines, exchange checks for the keys and shake hands. But this isn’t an ideal world, which means that if you and the professionals you hired don’t prepare, your closing could be a disaster.

Here are six tips for ensuring your closing goes smoothly.

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Monday, April 30th, 2012

There’s that sound again. It’s the media message you once heard on the TV and radio or read in newspapers and on the Internet in days seemingly long gone. Real estate stories are mostly being cast in a generous light. That’s all well and good, but is now the time to list or buy? Answering that question still relies upon many specific, localized, determining factors, but we have reached a place where the process is generally more positive and enjoyable. That big American dream of homeownership is no longer haunted by night terrors.

In the Twin Cities region, for the week ending April 21:

  • New Listings increased 13.9% to 1,677
  • Pending Sales increased 41.2% to 1,281
  • Inventory decreased 28.4% to 17,447

For the month of March:

  • Median Sales Price increased 7.1% to $149,900
  • Days on Market decreased 9.7% to 144
  • Percent of Original List Price Received increased 3.8% to 92.1%
  • Months Supply of Inventory decreased 37.6% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Friday, April 27th, 2012

Mark your calendars! Start making plans!

The 2012 Nationwide Open House Weekend is this weekend – April 28th and 29th.

With record breaking housing affordability conditions, this event will be better than ever.

Contact your local real estate office for more information on times & locations.

Monday, April 23rd, 2012

Job growth, low mortgage rates, rising rents and a relatively inexpensive housing stock. These are just some of the playful teases in the burlesque revue that is today’s market recovery. Another week passed with buyers displaying no signs of slowing down. In general, sellers are discovering a less-intimidating scene, and buyers are reveling in the showy marketplace. As expected, spring’s warming glow continues to fuel optimism and consumer activity. But that won’t necessarily be the case in every area or segment, so do your research before making that move.

In the Twin Cities region, for the week ending April 14:

  • New Listings decreased 9.5% to 1,637
  • Pending Sales increased 25.5% to 1,170
  • Inventory decreased 27.8% to 17,384

For the month of March:

  • Median Sales Price increased 7.1% to $149,900
  • Days on Market decreased 9.6% to 145
  • Percent of Original List Price Received increased 3.8% to 92.1%
  • Months Supply of Inventory decreased 38.0% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |
Sunday, April 15th, 2012

Market sentiment can become a self-fulfilling prophecy. Just as negative economic news sent a chill through the housing industry over the last several years, a newly confident consumer buying up excess inventory and further housing-related sundries helps stabilize and support home values. Some sellers are even starting to see rising prices. The numbers are beginning to reflect the fact that multiple offers on homes for sale are now more than anecdotal conversation between real estate professionals. For this week, new listings were down while purchase contracts were up compared to the same week in April 2011.

In the Twin Cities region, for the week ending April 7:

  • New Listings decreased 19.0% to 1,411
  • Pending Sales increased 15.5% to 1,036
  • Inventory decreased 27.3% to 17,289

For the month of March:

  • Median Sales Price increased 7.1% to $149,900
  • Days on Market decreased 9.4% to 145
  • Percent of Original List Price Received increased 3.8% to 92.1%
  • Months Supply of Inventory decreased 38.5% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |