move-up Buyer

“Buying a Home During a Pandemic”: The NYT Interviews 2 Minneapolis Couples

How Did 2008 Home Buyers Fare? I always do a double take when The New York Times mentions Minneapolis in an article on housing. So, let’s say that today’s article, “Buying a Home During a Pandemic” — which mentions not one but two Minneapolis homeowners — had my full attention. The article’s author, Ron Lieber,...
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Are First-Time Buyers Diving Into the Deep(er) End of the Housing Pool?

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...
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Explaining High Turnover on a Busy Street (The OTHER Reason)

Dream Home?  Maybe Not, But Dream Price Everyone in real estate (and many outside of it) knows the phenomenon:  homes on busy streets turn over more often. The explanation is self-evident, right?  The occupants get tired of the traffic and move on. That may certainly be true, but as a Realtor, I see another, economics-based...
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Housing Market Price Anomalies

A Housing Deal — if You Can Afford It Quick!  Assuming the Buyer has the financial wherewithal, which is a better deal:  buying a $300,000 house for $320,000, or getting a $425,000 house for $400,000? Don’t follow? In the Twin Cities housing market right now, homes in move-in condition at a price that first-time Buyers...
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Recipe for Multiple Offers (Feeding Frenzy?): 4340 Colfax Ave. South by Lake Harriet

  Not Just “Location, Location, Location” Twin Cities home Buyers (and readers of this blog) know that multiple offers are back, big-time, this year. But not everywhere, or for every property type or at every price point. So, what makes for a sure-fire bidding war, like the one that just erupted at 4340 Colfax Avenue...
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What’s the Big Deal About 20% Down?

Backdoor Price Increase Perhaps the key issue in housing at the moment — besides the just-released March Case-Shiller numbers showing that housing nationally touched a new low — is the initiative by lenders and some in Congress to mandate 20% down payments. In theory, the proposal makes a lot of sense:  Buyers who put down 20%...
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