Wednesday, November 27th, 2013

Tuesday, November 26th, 2013

WMAR-enotes

This week, and through the end of the year, you might be watching for much-needed inventory gains that will not arrive due to traditional end-of-year lulls in the marketplace related to holidays and/or colder weather. Nobody wants to sell at the bottom. In general, inventory pools are up in year-over-year comparisons in many areas, suggestive of seller confidence with recent price gains. Overall recovery is unlikely to stall. The pace of price gains and bidding wars may ease, but that’s not necessarily a bad thing. Just ask any prospective home buyer.

In the Twin Cities region, for the week ending November 16:

• New Listings decreased 4.2% to 1,003 • Pending Sales decreased 7.3% to 758 • Inventory decreased 3.2% to 15,318

For the month of October:

• Median Sales Price increased 11.4% to $194,900 • Days on Market decreased 27.2% to 75 • Percent of Original List Price Received increased 1.4% to 95.8% • Months Supply of Inventory decreased 12.5% to 3.5

Click Here to View Full Weekly Activity Report

Monday, November 25th, 2013

by The KCM Crew

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

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Wednesday, November 20th, 2013

WMAR-enotes

 

Fewer people are out scouting homes now that they’re scouting the perfect bird for their Thanksgiving feast. Weekly and monthly seller and buyer activity may be slowing in comparison to last reporting period, but overall markets still show signs of stable recovery. By and large, expect the end of 2013 to look just as juicy and golden as your bird is soon to be.

In the Twin Cities region, for the week ending November 9:

• New Listings increased 11.4% to 1,132 • Pending Sales decreased 3.1% to 819 • Inventory decreased 3.2% to 15,517

For the month of October:

• Median Sales Price increased 11.4% to $195,000 • Days on Market decreased 27.2% to 75 • Percent of Original List Price Received increased 1.4% to 95.8% • Months Supply of Inventory decreased 12.5% to 3.5

 

Click Here to View Full Weekly Activity Report

Monday, November 18th, 2013

 

bigstockphoto_Property_Prices_814896

by The KCM Crew

We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let us explain.

Last month, the Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about one full percentage over the next twelve months. We also know that many experts are calling for home prices to also increase over the next year.

What Does This Mean to a Buyer?

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