There are only 75 days left to take advantage of the first-time home buyer and move-up home buyer tax credits (unless of course they decide to extend it again….who know!?!)
75 Days Left of the Tax Credit
February 17th, 20102009 Twin Cities Housing Market Stats
January 28th, 2010The Marketplace
13-County Metro
According to data released by the three Twin Cities area REALTOR® associations:
- In the 13-county metro area, total pending sales for 2009 ended at 52,167 – up 18 percent over 2008 and the highest number of units sold since 2005.
- The median sales price in the 13-county metro area in 2009 was $166,000 - down 14.9 percent from 2008. However, prices have seen stabilization recently. December’s median sales price was only down 3 percent from one year prior.
1. 2009 traditional median home price: $204,000 (-8.3 percent from one year ago)
2. 009 median sales price for lender-mediated: $124,000 (-14.2 percent from one year ago)
- In 2009, 43 percent of closed sales were lender-mediated compared with 31.4 in 2008.
- 2009 closed sales were up 16.7 percent over 2008.
- At the start of 2010 active listings were down 22.3 percent from a year ago.
- 2009 new listings decreased 11 percent from 2008, the lowest showing since 2003 and the third consecutive year of substantial decline.
- Average days on market were at 132 in Dec. 2009 compared with 148 in Dec. 2008.
Based on information from the “2009 Year End Housing Sales Statistics Press Release” published in concert by the Minneapolis Area Association of REALTORS® (MAAR), Saint Paul Area Association of REALTORS® (SPAAR) and North Metro REALTORS® Association (NMRA). Data collected from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. for residential properties in the 13-county region exclusively.
Happy New Year!
January 4th, 2010It is hard to believe that 2010 is already here! In the coming year I will be sure to keep you posted on the local market, new housing trends and so much more! If you have any suggestions or topics that you would like to hear about please let me know.
CONGRATS to all the new 2009 homeowners!
Things to remember……
- The $8,000 & $6,500 tax credits will be expiring soon. You must be under contract by April 30th, 2010
- Interest rates are still historically low, but they won’t stay that way forever
- Don’t forget I am offering a FREE Home Warranty to buyers and sellers (click here for details)
Eden Prairie Proposed Southwest Transit Light Rail
November 21st, 2009The possibility of a light rail coming to Eden Prairie is pretty big news for commuters or individuals that would just prefer public transportation to downtown Minneapolis. The Southwest light rail project is expected to be completed in 2030 if it all moves forward as planned, with the route to Eden Prairie completed much earlier in 2014. Route 3A would start in Eden Prairie and then head through Hopkins, St. Louis Park, ending in Minneapolis. Once light rail riders reach downtown Minneapolis they would then be able to connect with other rail lines. For more information on this project visit Southwest Transitway.
Forecast: Foreclosures and Short Sales in 2010
November 19th, 2009From all the information I have learned recently we are expected to see a second wave of foreclosures and short sales hitting the market as we enter and move through 2010. Next year is when analysts are saying the foreclosures are going to peak due to unemployment and underemployment. Everyone’s hope is that once we move through these distressed properties we can then move back to a more stable and steady market in the years to come.
For more information on foreclosures and short sales visit my website. I have done both short sale and foreclosure transactions, so if you have a specific question please feel free to call or email me.
Real Estate Frequently Asked Questions
November 19th, 2009I recently added to my website a Home Buyer Frequently Asked Questions page and a Home Seller Frequently Asked Questions page. In addition to these questions, please let me know if there are any that you would like me to answer! Send me an email.
Also coming soon, I’m working on posting information about neighborhoods. Since I am a Eden Prairie Realtor, I will be starting with Eden Prairie and then expanding to the surrounding areas, such as Chanhassen, Bloomington, St. Louis Park, Edina, Chaska and much more. There will be information, photos and some will have video.
Tax Credit Updated Details for 2009 - 2010
November 7th, 2009To see a quick and simple overview of the home buyer tax credit changes and additions visit my Tax Credit Extension and Expansion page. See if you qualify to take advantage of this program available through April 30th 2010.
Expansion and Extension of the Home Buyer Tax Credit
November 6th, 2009Both the House and the Senate passed the bill to extend and expand the home buyer tax credit. It will go to the President today for final approval. I have been careful not to post information about this too early, but now I feel pretty confident it will be effective soon.
This bill will allow first-time home buyers to purchase up to April 30th and still receive the $8,000 tax credit. In addition, the bill has increased the income limits for those eligible to receive the first-time home buyer tax credit from $75,000 as a single filer to $125,000. If you are married the limit was $150,000 and is now $225,000. It also allows move up buyers that have been in their home for 5 or more years to receive a $6,500 tax credit, which is new and exciting.
2010 Home Buyer and Home Seller Perks – FREE 1 Year Home Warranty + more
November 3rd, 2009When you buy or sell a home with me in 2010 you will receive a FREE 1 Year Home Warranty. To learn more about the 2010 perks I am offering visit either my Home Buyer page or my Home Seller page on my website www.nextdooragent.com. There you will find the details of the program and some of the benefits of a home warranty.
Please pass this information on to anyone you know that may be looking to buy a home or sell a home in the next year!
Twin Cities Market Update - October 09′
October 20th, 2009Much like the second quarter, the third quarter of 2009 housing trends continued in the right direction. Over the summer months, sales activity was up in most markets, new and active listings were declining or stabilizing, time on market decreased, and we continued to work through much of the foreclosure inventory, many times with multiple offers. - Information from Bob Peltier, Edina Realty President
The Marketplace Statistics
13-County Metro
According to the Minneapolis Area Association of REALTORS® (MAAR):
* The median sales price in the 13-county metro area in September was $170,000 - down 10.5 percent from 2008. Distressed properties continue to affect overall median sales prices.
* Sept. 2009 traditional median home price: $200,712 (-5.3 percent from one year ago)
* Sept. 2009 median sales price for lender-mediated: $127,000 (-12.4 percent from one year ago)
* YTD 2009, 43.8 percent of closed sales were lender-mediated.
* Q3 2009 closed sales were up 16.6 percent over Q3 2008.
* Q3 2009 active listings were down 20.5 percent from Q3 2008.
* Q3 2009 new listings were down 7 percent from Q3 2008.
* Average days on market were at 129 compared with 145 this same time last year.
Based on information from the Minneapolis Area Association of REALTORS®, Inc. Data collected from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. for residential properties in the 13-county region exclusively.
