July 2010 Real Estate Stats

June 2010 Minneapolis Real Estate Stats

March Real Estate Update

The Skinny- February 2010 Real Estate Info

Latest Info on Twin Cities Real Estate Market

It’s Official – FHA Increasing MIP Fee

FHA will be raising its mortgage insurance premium (MIP) from 1.75% to 2.25% this spring. It would behoove all those interested in financing their purchase of a home with FHA financing to do this now versus latter.  In effect, the monthly payment will increase by .5%.  Compounding this is the Federal Reserve has allocated 1.4 trillion dollars to buy mortgage back securities, artificially keeping interest rates down. This will end sometime in March 2010.  It is likely that the monthly mortgage payments will be going up.  Edina Realty

2nd Quarter statistic Reveal Continuing Trend

Minneapolis real estate stats for the 2nd Qtr of 2009 still has lender mediated homes in  declined.  The key question is, if after the $8000 tax credit expires what will happen to the Minneapolis real estate market.  Compound that with expiration of the Treasury ending the buying of mortgage back securities which will likely put upward pressure on mortgage rates.  It going to be an interesting 2010.

Ray Klotz
Edina Realty

Lender Mediated homes for sale declining

Minneapolis real estate stats for the 1st Qtr of 2009 were somewhat surprising in that lender mediated homes for sale declined.  You can go to http://minnesotasearchhomes.com/rays_blog_93576.html to read an article that explains the statistic and there implications.  If this trend continues. It could bold well for the health of the real estate market in the Twin Cities.

Ray Klotz
Edina Realty

Minneapolis Real Estate-Multiple Offers

It seems that the Minneapolis Real Estate market is heating up on the foreclosed properties under the $200,000 price range.  There appears to be many multiple offer situations on homes priced very competitively and that are in relatively decent shape.  With the advent of the $8,000 Federal tax credit and low interest rates, the pent up demand seems to be taking advantage of the situation and clearing out a large quantity of these lender mediated homes.  Time will tell if this upward swing in home sales will clear the existing and future inventory of foreclosed homes so we can go back to a normal residential real estate market.

Ray Klotz – Edina Realty

Twin Cities Foreclosed Homes 2008 4 Qtr Statistics

For those interested in Minneapolis real estate  Lender Mediated ( foreclosed and short sales ) stats by city,  you can click here to go a report   put out by the Minnesota Area Association of Realtors and use this interactive report to click on the city of interest to see what is happening in Lender Mediated listings and traditional listings ( non-lender mediated ). The statistics vary depending on locality. If you compare  Edina real estate with the city of Brooklyn Center, you will see quite a disparity.   The cities with housing stock at or below the Twin Cities median price for housing, seem to be hit the hardest with foreclosures.  This report is a great tool to analyze where a buyer may make a purchase.   If a buyer is a believer in the axiom “buy low-sell high”, he or she might look at the hardest hit areas for value.  If a buyer wants a more stable purchase, the buyer may want to look at a locality that has taken a less severe decrease in pricing.  This report will available for only a short period since the data will be outdated in the near future.  Minneapolis foreclosure homes search. Enjoy.