Not Just Peace of Mind The most obvious reason to buy a home warranty? To avoid an unexpected, budget-busting home repair — or several of them. In return for an annual premium ranging from $500 – $1,000 (depending on coverage and home features), most such policies cap homeowners’ out-of-pocket expense for repairs at $100...Read More
Update-Loaded Edina Home for Just $295k! Where: 308 Van Buren Avenue South in Edina’s “Presidents” neighborhood. What: 3 Bedroom, 2 Bath home with a new oversized 2-car garage, on Alden Park in Edina. When: Pre-list showings begin on March 8. How much: $295k. Who: listed by Edina Realty – City Lakes’ Lindsey Ronning. You’ll...Read More
Listing agents (representing home sellers) are big fans of home warranties. Personally, I love them. Test your knowledge of residential real estate today, and see if you know why: A. Realtors don’t pay the premium (Sellers typically do). B. Realtors get a commission for each home warranty policy they sell. C. Listing agents know that...Read More
Skipping the Starter Home There’s some anecdotal evidence that first-time Buyers in the Twin Cities are making their mark a rung (or three) higher than you’d normally expect to find them. Namely, they’re disproportionately active in transactions around $500k — especially new construction in some of the more affordable ‘burbs — rather than in the...Read More
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...Read More
Millennial Subcategory: “Baby Boomerangers” One of the factors holding back the housing market is the (relative) dearth of first-time Buyers. Typically, such Buyers account for 40% of all residential real estate sales; the last few years, however, the percentage is closer to 33% (one-third). What accounts for the slippage? Three Theories Given that the average...Read More
