Each month the Minneapolis Area Association of Realtors releases a video, called the Monthly Skinny, highlighting market statistics. January’s video is narrated by 2009 MAAR President, Steve Havig.
Our favorite quote from the film-
“Those of you waiting for when the bottom finally hits? It will be at exactly 9:03 AM tomorrow and a large bell will ring all throughout the land that officially announces the perfect time to buy.”
In an effort to make the world a more beautiful place, we’d like to introduce you to a tutorial on painting your old, drabby wood floors. We fully respect the beauty of natural, restored wood floors. But those really ugly ones?! Why not paint them?
Anna from from www.doorsixteen.com has not only convinced us that white floors is the way to go, she’s also shown us how to do it with her step-by-step tutorial. Now we just have to find (and buy) the perfect, not-so-perfect wood floor to paint.
Check out doorsixteen for home-improvement inspiration for all areas of your home.
Looking for something fun to do this Sunday? Grab your closest kid and go to The Current’s fourth annual Rock the Cradle event at the Minneapolis Institute of Arts/Children’s Theater Company. Live performances, story time with Current DJs, Kids on the Radio, and Kids DISCO!! It is a fun and FREE event for the whole family. We’ll be there with the mini-Minne-apple.
Check out The Current website for details.
After two-plus years of a faltering market, a recent upswing in Twin Cities homes sales during the second half of 2008 is cause for some measured optimism heading into 2009. In the Twin Cities 13-county metro area, total pending sales for 2008 ended at 44,067, up 1.2 percent from 2007. This is the first year-over-year increase in pending sales since 2004. There were 38,746 closed home sales in 2008, down only 3.5 percent from 2007.
In the second half of the year, sales picked up momentum and haven’t let up since due to tumbling mortgage rates and increased affordability. Since July, there have been 15.7 percent more pending sales than there were during the same time period last year, and the most recent month saw a year-over-year increase of almost 30 percent.
The Minneapolis Area Association of REALTORS’® (MAAR) most recent market activity report (week of Jan. 5, 2009) features an updated supply-demand ratio (measures the number of houses for sale for each buyer) that illustrates significant changes from a year ago. This January’s number of 8.36 shows a decline of 19.7 percent from last January’s 10.41. That means for every buyer, there are about eight homes for sale compared with 10 for every buyer last year. The reduced supply can be attributed to fewer listings coming on the market, plunging mortgage rates and incredible home affordability levels – all of which are good signs for improving market conditions overall.
All housing activity in the Twin Cities market was slow during the week of the Christmas holiday as expected. Backing up a week, home sales for the week ending December 20 were 20.0 percent ahead of the same time last year thanks to a downward trend in mortgage rates to the lowest level in decades according to MAAR. In measuring the three week period following the rate cut, the increase in pending sales was 27.5 percent – 368 more pending sales than during the same period in 2007. During this same time, 57.6 percent of sales were lender mediated foreclosures and short sales and 45.8 percent were below $150,000, illustrating that buyers are capitalizing on great deals.
The greatest perk of being a real estate agent is that we get to look at houses – and a lot of them. You could say we have a passion for houses. Size doesn’t matter, and many times it isn’t even the most perfect house that gets us excited. But the thought of moving in – where would the sofa go, what color to paint the walls, what our books would look like on the built-ins framing the cozy fireplace. That is what does it.
When looking at houses in real-life doesn’t quench our passion – we check out www.theselby.com. The homes! The art! And it certainly doesn’t hurt that most of the people are just as beautiful as their homes.
michelle mccormick and tracy mccormick – koreatown los angeles
thomas dozol and michael stipe – tribeca new york
guy blakeslee and maximilla lukacs – laurel canyon los angeles
Don’t blame us if you stay up all night peeking through the proverbial window.
A new year means a whole new opportunity for the Twin Cities to appear on “Best Of” lists. 2008 was a good year for the cities, as they appeared on multiple lists.
Tell us – what keeps you in Minneapolis?
Here are some lists that highlight the TC:
Cooking Light Best Cities - Minneapolis is number four on the list.
Fit Pregnancy – names Minneapolis the second best city in the nation to have a baby.
Forbes named Minneapolis one of the best cities for outdoors.
CNN Money named Plymouth the best city to live in.
Interest rates for a 30-year conventional loan are at 4.75%!!!!!!!!!!!!!!!!!
If you weren’t looking to buy before, you should be now!
