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
vs. “Family Home”(?) “Starter home“: a relatively small, economical house or condominium that meets the requirements of young people buying their first home. My association with “starter home” — and I’m sure many others’ — is a small house, usually two Bedrooms (or three very small ones), that may (or may not) be in rough condition....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
