Where: 328 Burntside Drive, Golden ValleyWhat: 6 BR/5 BA; 4,407 FSFHow much: $369,900Last sale: $899,000 (3/8/07)Tax assessed value: $757,700 Just like not all stocks have dropped equally in a market now down more than 50%, not all homes or neighborhoods have suffered equally. In fact, one of the reasons why the Twin Cities overall is...Read More
December S&P/Case-Shiller: Minneapolis Down 18.5% The latest S&P/Case Shiller numbers (for December) are out, and to no one’s surprise, they’re dreadful: all of the nation’s 20 largest housing markets show decreases, from the merely bad (Dallas, Denver) to the shocking (Las Vegas, Phoenix). Minneapolis shows an 18.5% drop from a year earlier. Before you jump...Read More
Three Reasons Why Deals Are Tougher in a Recession What amuses me about 99% of the articles written about the housing market — and there’s been an explosion lately — is that they’re not written by active, working Realtors. Most are simply journalists whose “beat” (area of focus) is the housing market. On a scale...Read More
Two Types of Housing Distress The key to understanding [the administration’s housing] plan will be remembering that there are two different groups of homeowners who are at risk of foreclosure. The first group is made up of people who cannot afford their mortgages and have fallen behind on their monthly payments . . . The...Read More
Where: 2641 Kipling So. (St. Louis Park’s Fern Hill Neighborhood) What: 3 BR/2BA; 1,678 FSF List Price: $165,000 On Market: 2/4/09 Time to sell: 2 days (*estimated) Tax assessed value: $392,000 [Reader’s note: for related posts, see, “Multiple Offers and $40k Over Asking” and “Fern Hill Flip] Even in a soft market, a starter home...Read More
Want a Deal? How about *82% off?Where: 22xx Vincent Ave. North; MinneapolisHow much: $42,500Key Stats: 4BR/2BA; 1,363 FSFLast sale*: $240,000 (6/2006)Tax assessed value: $165,000 No, it’s not in Edina or Wayzata. And, yes, it’s a foreclosure, with all the headaches that can be involved (including less than pristine condition). However, this brick-and-stone rambler is just...Read More
