Stuck in Place I wouldn’t say we’re there yet, but . . . if Twin Cities traffic congestion continues to worsen, I see some side effects for the local housing market, and in particular, successful area Realtors who want to stay that way. Namely, it will (once again) be smart — and more lucrative — to...Read More
Barring the Door . . . to Everyone; 2 Pro’s — & (at Least) 1 Big Con Once upon a time, homes that were under contract, but not yet past inspection, were flagged on MLS with the suffix, “Sold, subject to inspection” (“SSI” for short). Then, that got truncated to just “i” — as in...Read More
Momentary Lull? The word amongst local Realtors — corroborated by what I’ve seen personally — is that Buyer activity for mid-September seems to be unexpectedly low. That means fewer showings for Actively Listed homes, which means fewer deals in the transaction pipeline — and ultimately fewer closings later this Fall. The various theories I’ve heard:...Read More
The Ayes Eyes Have It, or “Holdover” Buyers & Sellers Anecdotally, Twin Cities agents (myself included) are reporting an uptick in the number of prospective Buyers saving or watching listings on MLS this Summer. A couple months ago, it was typical to have 2-3 Buyers save a listing; now, those numbers can be double or...Read More
How Full — or Empty — is the Foreclosure Pipeline? Today’s New York Times includes a story that — at least at first blush — has ominous implications for Minneapolis and the overall Twin Cities housing market: In Minneapolis, lenders are bringing in at least six foreclosed homes for each they sell. –Eric Dash, “Banks...Read More
