Thursday, September 11th, 2014
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The KCM Crew

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

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Tuesday, September 9th, 2014

The Bureau of Labor Statistics reported in August that total nonfarm payroll employment increased by more than 200,000 in July, and the national unemployment level is holding relatively steady at 6.2 percent. Combined with a reported increase in consumer confidence by Reuters, the U.S. economy is looking pretty spiffy. So long as quality paying jobs continue to be added to the mix and housing policy remains welcoming to those who want to buy and sell, there is reason to remain optimistic about residential real estate.

In the Twin Cities region, for the week ending August 30:

  • New Listings increased 0.6% to 1,365
  • Pending Sales decreased 10.8% to 1,087
  • Inventory increased 9.9% to 18,627

For the month of August:

  • Median Sales Price increased 5.3% to $219,001
  • Days on Market decreased 2.9% to 68
  • Percent of Original List Price Received decreased 0.8% to 96.2%
  • Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |
Tuesday, September 2nd, 2014

As summer begins to wane, the total number of home sales will gradually drop like the leaves of fall. And although autumn is nearing, that doesn’t necessarily mean that the changing of the season will bring market chills. Because even as sales drop, sales prices are still mostly on the rise and inventory is stabilizing all across the country. And let’s not forget that lower sales figures are also due to fewer distressed properties on the market.

In the Twin Cities region, for the week ending August 23:

  • New Listings increased 3.5% to 1,539
  • Pending Sales increased 4.5% to 1,175
  • Inventory increased 10.1% to 18,755

For the month of July:

  • Median Sales Price increased 3.4% to $215,000
  • Days on Market decreased 5.6% to 68
  • Percent of Original List Price Received decreased 0.7% to 96.8%
  • Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |
Tuesday, September 2nd, 2014
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As summer begins to wane, the total number of home sales will gradually drop like the leaves of fall. And although autumn is nearing, that doesn’t necessarily mean that the changing of the season will bring market chills. Because even as sales drop, sales prices are still mostly on the rise and inventory is stabilizing all across the country. And let’s not forget that lower sales figures are also due to fewer distressed properties on the market.

In the Twin Cities region, for the week ending August 23:

• New Listings increased 3.5% to 1,539
• Pending Sales increased 4.5% to 1,175
• Inventory increased 10.1% to 18,755

For the month of July:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4


Monday, September 1st, 2014
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