Duff Goldman prepares toffee, chocolate and orange cookies, inspired by the Holiday Baking Championship.
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Weekly Activity Report- November 24th, 2014
By Aubray Erhardt on Monday, November 24th, 2014
Consumers are already starting to lean toward 2015, so let’s look ahead ourselves before we hit the weekly tabulations. With virtually no inflation to speak of, interest rates should remain low for the foreseeable future but could flirt with 5.0 percent toward the end of next year. Both new and existing inventory levels should rise – which is more of a continuation than a new development for many communities. Prices are also expected to increase but not by much, which should help first-time buyers. Job growth is likely to continue, and wage growth is expected to pick up.
In the Twin Cities region, for the week ending November 15:
• New Listings decreased 14.5% to 857
• Pending Sales decreased 1.6% to 749
• Inventory increased 3.5% to 16,692
For the month of October:
• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2
VIEW FULL REPORT
Consumers are already starting to lean toward 2015, so let’s look ahead ourselves before we hit the weekly tabulations. With virtually no inflation to speak of, interest rates should remain low for the foreseeable future but could flirt with 5.0 percent toward the end of next year. Both new and existing inventory levels should rise – which is more of a continuation than a new development for many communities. Prices are also expected to increase but not by much, which should help first-time buyers. Job growth is likely to continue, and wage growth is expected to pick up.
In the Twin Cities region, for the week ending November 15:
• New Listings decreased 14.5% to 857
• Pending Sales decreased 1.6% to 749
• Inventory increased 3.5% to 16,692
For the month of October:
• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2
VIEW FULL REPORT
Don’t Assume You Can’t Get A Mortgage Loan
According to the latest J.D. Power 2014 U.S. Primary Mortgage Origination Satisfaction Study, first-time homebuyers report challenges with understanding the mortgage process and the options that are available to them. It also suggests that lenders may be doing a poor job of educating and helping borrowers navigate the loan process.
Among survey respondents purchasing a home, 58 percent were first-time home buyers, yet only 29 percent of homebuyers in the last three months were first-timers, according to the National Association of REALTORS®. The percentage of first-time homebuyers has been less that 30 percent for 17 of the past 18 months. The reason the number is significant is that it’s well below the long-term average of 40 percent.
Among survey respondents purchasing a home, 58 percent were first-time home buyers, yet only 29 percent of homebuyers in the last three months were first-timers, according to the National Association of REALTORS®. The percentage of first-time homebuyers has been less that 30 percent for 17 of the past 18 months. The reason the number is significant is that it’s well below the long-term average of 40 percent.
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Monthly Skinny-November 2014
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by David Arbit, Research Manager at the Minneapolis Area Association of REALTORS®, video produced by Chelsie Lopez.
Monthly Skinny – October 2014
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by David Arbit, Research Manager at the Minneapolis Area Association of REALTORS®, video produced by Chelsie Lopez.
Weekly Market Activity Report-Nov 17,2014
By Aubray Erhardt
As fall finally goes dim, winter emerges as the prevailing wind through the marketplace. While optimism serves as a white rose through this phase, moderate unemployment rates have given pause to overabundant optimism. All the same, the desire for homeownership remains high among those willing to absorb some risk while attracting enthusiasm.
In the Twin Cities region, for the week ending November 8:
• New Listings decreased 2.8% to 1,104
• Pending Sales increased 2.0% to 826
• Inventory increased 4.1% to 16,972
For the month of October:
• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2
View Full Report
As fall finally goes dim, winter emerges as the prevailing wind through the marketplace. While optimism serves as a white rose through this phase, moderate unemployment rates have given pause to overabundant optimism. All the same, the desire for homeownership remains high among those willing to absorb some risk while attracting enthusiasm.
In the Twin Cities region, for the week ending November 8:
• New Listings decreased 2.8% to 1,104
• Pending Sales increased 2.0% to 826
• Inventory increased 4.1% to 16,972
For the month of October:
• Median Sales Price increased 6.7% to $208,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 13.5% to 4.2
View Full Report
November 14th, 2014
By Blanche Evans
November 14, 2014
There are two ways to build equity, or ownership, in your home. One is to pay what you owe your lender which reduces the principle owed on your mortgage, and the other is to take advantage of market upswings which increase the value of your home.
One way to build equity is to put more money down on the home you want to buy. Lenders have returned to tried and true models of income-to-debt ratios, requiring that borrowers put more money down when they purchase a home. While it’s still possible to get zero-down loans, such as those offered by the VA, most loans with low down payments require mortgage insurance.
November 14, 2014
There are two ways to build equity, or ownership, in your home. One is to pay what you owe your lender which reduces the principle owed on your mortgage, and the other is to take advantage of market upswings which increase the value of your home.
One way to build equity is to put more money down on the home you want to buy. Lenders have returned to tried and true models of income-to-debt ratios, requiring that borrowers put more money down when they purchase a home. While it’s still possible to get zero-down loans, such as those offered by the VA, most loans with low down payments require mortgage insurance.
Click Here to Read More>>
Start Building Your Home’s Equity Now
By Blanche Evans
November 14, 2014
There are two ways to build equity, or ownership, in your home. One is to pay what you owe your lender which reduces the principle owed on your mortgage, and the other is to take advantage of market upswings which increase the value of your home.
One way to build equity is to put more money down on the home you want to buy. Lenders have returned to tried and true models of income-to-debt ratios, requiring that borrowers put more money down when they purchase a home. While it’s still possible to get zero-down loans, such as those offered by the VA, most loans with low down payments require mortgage insurance.
November 14, 2014
There are two ways to build equity, or ownership, in your home. One is to pay what you owe your lender which reduces the principle owed on your mortgage, and the other is to take advantage of market upswings which increase the value of your home.
One way to build equity is to put more money down on the home you want to buy. Lenders have returned to tried and true models of income-to-debt ratios, requiring that borrowers put more money down when they purchase a home. While it’s still possible to get zero-down loans, such as those offered by the VA, most loans with low down payments require mortgage insurance.
Click Here to Read More>>
Weekly Market Activity Report-November 10, 2014
As many markets begin to prepare for colder weather or festive family gatherings, a familiar seasonal slowing will begin to creep into the
weekly numbers. Yet housing activity can be expected to float along at a seasonally healthy pace like a fallen leaf on a lazy river. With no
big, negative economic news on the horizon, reliable sales, price and inventory figures, though not flashy, are quite welcome.
In the Twin Cities region, for the week ending November 1:
• New Listings decreased 9.2% to 1,076
• Pending Sales decreased 6.2% to 940
• Inventory increased 5.7% to 17,760
For the month of October:
• Median Sales Price increased 7.2% to $209,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 10.8% to 4.1
VIEW FULL REPORT
weekly numbers. Yet housing activity can be expected to float along at a seasonally healthy pace like a fallen leaf on a lazy river. With no
big, negative economic news on the horizon, reliable sales, price and inventory figures, though not flashy, are quite welcome.
In the Twin Cities region, for the week ending November 1:
• New Listings decreased 9.2% to 1,076
• Pending Sales decreased 6.2% to 940
• Inventory increased 5.7% to 17,760
For the month of October:
• Median Sales Price increased 7.2% to $209,000
• Days on Market decreased 4.0% to 72
• Percent of Original List Price Received decreased 0.6% to 95.2%
• Months Supply of Inventory increased 10.8% to 4.1
VIEW FULL REPORT
Weekly Market Activity Report- November 3,2014
In the buildup of anticipation for the season of pumpkin carving, caramel apple eating and haunted house touring, it came out that one number was spookily down. Homeownership is at its lowest point in 20 years and has been steadily dropping since the housing bubble years from 2004 to 2006. Interestingly, we are now at levels consistent with a healthy market. Also, rising rents should eventually give cause to more households seeking ownership positions. So-called bad news is good, especially in the dark days surrounding Halloween.
In the Twin Cities region, for the week ending October 25:
• New Listings increased 4.5% to 1,267
• Pending Sales decreased 10.4% to 861
• Inventory increased 5.5% to 17,894
For the month of September:
• Median Sales Price increased 5.1% to $205,000
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 18.4% to 4.5
In the Twin Cities region, for the week ending October 25:
• New Listings increased 4.5% to 1,267
• Pending Sales decreased 10.4% to 861
• Inventory increased 5.5% to 17,894
For the month of September:
• Median Sales Price increased 5.1% to $205,000
• Days on Market remained flat at 71
• Percent of Original List Price Received decreased 0.9% to 95.6%
• Months Supply of Inventory increased 18.4% to 4.5