2015 housing market

2nd to Last Business Day in August = LOTS of Closings

“April showers bring May flowers.” —old saying “July deals bring (late) August closings.” —real estate corollary Combine a (very) busy late Spring market, surprisingly low interest rates, and a looming month-end, and what do you get? An exceptionally crowded end of August closing docket. Meanwhile, as for Realtors . . . not so much. At...
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August, 2015 Housing Market: Macro Variables > Micro?

China’s Chickens Come Home to Roost** or, Is the Opposite of the “Wealth Effect” the “Poverty Effect??” Normally, I tell prospective home Buyers and Sellers to tune out “macro” factors like the broader economy, (un)employment, etc. and instead focus on “micro” factors affecting the specific property they want to buy or sell. So, forget about...
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Why Contingent Offers Are Making a Comeback (They Are)

Contingent Offer Multiple Choice [Editor’s Note:  Nothing in this post or on this blog should be construed as offering legal counsel.  If you require legal advice, please consult an attorney.] Test your knowledge of the Summer, 2015 housing market and field this question: Contingent offers — when a Buyer buys contingent on being able to...
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Spring 2015 Housing Market Multiple Choice

Short-Term Forecast Twin Cities real estate pro’s are anticipating a slow-down from this Spring’s torrid pace sometime later this Summer. Why? a. Rising interest rates; b. Projected low levels of inventory; c. Declining home affordability, especially in the market’s lower rungs most popular with first-time Buyers; d. Cumulative agent exhaustion. Correct answer:  all of the above. Minus...
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Barron’s’ 20-20 Hindsight Vision on Housing

Missing the Mark Broad Side of the Barn: 24% Appreciation the Last 3 Years vs. 7% “Housing prices rose 8% in 2012, 11% in 2013, and 5% in 2014, much as Barron’s had predicted they would in each of those years.” –“Nearing the Peak”; Barron’s (4/20/2015) Actually . . . I remember Barron’s making a...
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What’s So Bad About a Flat Housing Market?

The Virtue(s) of a Slower, Quieter Housing Market Apparently, at least a few industry players are trying to spin what is expected to be modest price appreciation in 2015 into something . . . bigger. See, “Projecting 2015 Housing Prices Using Statistical Sleight of Hand.” I don’t think it’s ever a good idea to embellish...
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