Diane Schroder

Weekly Market Report

MA Blogging — Mon, 14 May 2012 21:14:57 +0000

If only there were a system of grand, colorful lights for tracking residential real estate. Green for rising market, yellow for a transitional market and red for declining market. Let’s see if we can try to determine today’s market without the ease of well-known signals. Prices are bottoming and starting to rise. Buyer activity is showing year-over-year gains. Homes are selling faster and closer to list price. Multiple offers are becoming commonplace. Inventory levels are leaning toward the seller. Green means go.

In the Twin Cities region, for the week ending May 5:

New Listings decreased 6.6% to 1,643

Pending Sales increased 41.9% to 1,232

Inventory decreased 28.3% to 17,579

For the month of April:

Median Sales Price increased 12.1% to $162,500

Days on Market decreased 15.1% to 135

Percent of Original List Price Received increased 3.6% to 93.4%

Months Supply of Inventory decreased 43.1% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Weekly Market Report

MA Blogging — Mon, 07 May 2012 22:21:20 +0000

Buyers don’t live in a spreadsheet. When they find a home to love and cherish, they don’t intellectualize it too much. There are generally fewer homes on the market, they’re selling more quickly and prices in most areas are no longer in a downtrend. Dwindling inventories means there’s less competition and more pricing power for sellers, who are finally starting to be rewarded by strong buyer activity. Interest rates at 50-year lows doesn’t hurt either. Love is in the air and all around the housing market.

In the Twin Cities region, for the week ending April 28:

New Listings decreased 14.9% to 1,475

Pending Sales increased 21.4% to 1,187

Inventory decreased 28.0% to 17,603

For the month of March:

Median Sales Price increased 7.1% to $149,900

Days on Market decreased 9.7% to 144

Percent of Original List Price Received increased 3.8% to 92.1%

Months Supply of Inventory decreased 37.2% to 4.8

Click here for the full Weekly Market Activity Report.

From The Skinny.

Weekly Market Report

MA Blogging — Mon, 30 Apr 2012 20:19:59 +0000

There’s that sound again. It’s the media message you once heard on the TV and radio or read in newspapers and on the Internet in days seemingly long gone. Real estate stories are mostly being cast in a generous light. That’s all well and good, but is now the time to list or buy? Answering that question still relies upon many specific, localized, determining factors, but we have reached a place where the process is generally more positive and enjoyable. That big American dream of homeownership is no longer haunted by night terrors.

In the Twin Cities region, for the week ending April 21:

New Listings increased 13.9% to 1,677

Pending Sales increased 41.2% to 1,281

Inventory decreased 28.4% to 17,447

For the month of March:

Median Sales Price increased 7.1% to $149,900

Days on Market decreased 9.7% to 144

Percent of Original List Price Received increased 3.8% to 92.1%

Months Supply of Inventory decreased 37.6% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

6 rules of curb appeal

MightyAgent — Thu, 26 Apr 2012 18:10:45 +0000

How to beat out competition when selling your home

By Paul Bianchina,

It’s that time of year again, when I take a moment to talk to all of you who are thinking of putting your home on the market this spring. If real estate’s favorite old adage is “location, location, location,” then it’s got to be followed closely by, “You get only one chance to make a first impression.”

Click Here For More

The Market IS Recovering

MightyAgent — Thu, 26 Apr 2012 03:26:03 +0000

by The KCM Crew

It didn’t take long for the naysayers in real estate to jump all over the National Association of Realtors’ Existing Sales Report which was released last week. It is true that sales were down 2.6% from the previous month. However, monthly variations should not be the determining factor in deciding where the market is going. For example, in the same report, NAR explained that sales WERE UP 5.2% over last March’s numbers.

The experts should look at the key underlying data that truly determines where the market will be heading. Here is what leading economists in the housing industry are saying:

Paul Diggle, property economist, Capital Economics

“March’s decline in existing home sales probably reflects the normal month by month volatility rather than renewed underlying weakness. The increase in households’ confidence in the outlook for the housing market, coupled with a gradual improvement in the pace of the economic recovery, should drive a rise in home sales later this year….It is possible that the pattern within the quarter has been driven by the weather, with falls in the most recent two months reflecting a degree of payback after January’s gain.”

Doug Duncan, chief economist, Fannie Mae

“Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”

Celia Chen, senior director of housing economics, Moody’s

“The residential property market is recovering, as the factors underlying demand and supply strengthen. Even after accounting for unusual seasonal patterns brought on by the unusually warm winter, conditions have not been this strong since the government ended homebuyer tax credits in 2010.”

Mark Vitner, senior economist, Wells Fargo

“Existing home sales dropped 2.6 percent, but are up 5.2 percent from a year ago. While existing sales are down for the second consecutive month, we are likely continuing to see payback from increases earlier this year. That said, we could see one more month of disappointing data, but we still contend the recent declines are not indicative of the trend. Stabilization will become more apparent once we return to normal weather.”

Mark Fleming, chief economist, CoreLogic

“Since the peak in home prices, mortgages rates have declined and affordability has risen dramatically. Housing affordability is at levels not seen since prior to the early 1990s …While real estate professionals often say that “now is a good time to buy,” it is clear today that April 2006 was probably not a good time to buy, while now may well be the time.”

Weekly Market Report

MA Blogging — Mon, 23 Apr 2012 20:12:34 +0000

Job growth, low mortgage rates, rising rents and a relatively inexpensive housing stock. These are just some of the playful teases in the burlesque revue that is today’s market recovery. Another week passed with buyers displaying no signs of slowing down. In general, sellers are discovering a less-intimidating scene, and buyers are reveling in the showy marketplace. As expected, spring’s warming glow continues to fuel optimism and consumer activity. But that won’t necessarily be the case in every area or segment, so do your research before making that move.

In the Twin Cities region, for the week ending April 14:

New Listings decreased 9.5% to 1,637

Pending Sales increased 25.5% to 1,170

Inventory decreased 27.8% to 17,384

For the month of March:

Median Sales Price increased 7.1% to $149,900

Days on Market decreased 9.6% to 145

Percent of Original List Price Received increased 3.8% to 92.1%

Months Supply of Inventory decreased 38.0% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Weekly Market Report

MA Blogging — Mon, 16 Apr 2012 05:50:26 +0000

Market sentiment can become a self-fulfilling prophecy. Just as negative economic news sent a chill through the housing industry over the last several years, a newly confident consumer buying up excess inventory and further housing-related sundries helps stabilize and support home values. Some sellers are even starting to see rising prices. The numbers are beginning to reflect the fact that multiple offers on homes for sale are now more than anecdotal conversation between real estate professionals. For this week, new listings were down while purchase contracts were up compared to the same week in April 2011.

In the Twin Cities region, for the week ending April 7:

New Listings decreased 19.0% to 1,411

Pending Sales increased 15.5% to 1,036

Inventory decreased 27.3% to 17,289

For the month of March:

Median Sales Price increased 7.1% to $149,900

Days on Market decreased 9.4% to 145

Percent of Original List Price Received increased 3.8% to 92.1%

Months Supply of Inventory decreased 38.5% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Weekly Market Report

MA Blogging — Tue, 10 Apr 2012 01:20:39 +0000

The weekly scorecard showcases that home buyers were more active compared to the same week last year. Buyers have been taking advantage of an affordable market, but sellers in many areas have been lazing in the tall grass like lions as the herd moves past. Watch for a changing landscape this spring and summer. Even skeptical sellers are sensing a need to get back into the hunt.

In the Twin Cities region, for the week ending March 31:

New Listings decreased 12.1% to 1,532

Pending Sales increased 25.2% to 1,113

Inventory decreased 27.2% to 17,274

For the month of March:

Median Sales Price increased 6.4% to $149,000

Days on Market decreased 10.0% to 144

Percent of Original List Price Received increased 3.7% to 92.1%

Months Supply of Inventory decreased 39.2% to 4.6

Click here for the full Weekly Market Activity Report.

From The Skinny.

Weekly Market Report

MightyAgent New Feed — Tue, 10 Apr 2012 01:13:57 +0000

The weekly scorecard showcases that home buyers were more active compared to the same week last year. Buyers have been taking advantage of an affordable market, but sellers in many areas have been lazing in the tall grass like lions as the herd moves past. Watch for a changing landscape this spring and summer. Even skeptical sellers are sensing a need to get back into the hunt.
In the Twin Cities region, for the week ending March 31:

New Listings decreased 12.1% to 1,532

Pending Sales increased 25.2% to 1,113

Inventory decreased 27.2% to 17,274
For the month of March:

Median Sales Price increased 6.4% to $149,000

Days on Market decreased 10.0% to 144

Percent of Original List Price Received increased 3.7% to 92.1%

Months Supply of Inventory decreased 39.2% to 4.6
Click here for the full Weekly Market Activity Report.
From The Skinny.

Weekly Market Report

MA Blogging — Tue, 03 Apr 2012 13:19:18 +0000

The last time you were at the doctor, your vital signs were checked – heart rate, pulse, temperature and blood pressure. Progress was documented and valuable insights were gained, whether it was a routine visit or one of many checks during an extended hospital stay. The housing market has been in and out of intensive care for the past several years. Monitoring vitals matters, and that’s what you’ll find on the following pages. The pulse of today’s market indicates that we may be getting ready to leave the ICU. So if you could just please pull up your sleeve, let’s check your blood pressure.

In the Twin Cities region, for the week ending March 24:

New Listings increased 2.2% to 1,414

Pending Sales increased 30.2% to 1,052

Inventory decreased 27.3% to 17,193

For the month of February:

Median Sales Price decreased 1.4% to $138,000

Days on Market decreased 9.0% to 145

Percent of Original List Price Received increased 2.5% to 90.6%

Months Supply of Inventory decreased 34.8% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.