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home buyer: The State of Real Estate: Edina and Southwest Minneapolis: January 2012 - 02/07/12 01:56 PM
With January under our belt, I'm glad to announce, the Real Estate market in Edina and Southwest Minneapolis is really improving and shows signs of real recovery.
"Recovery" is a work I'm careful about using. For the past 5 or 6 years we've encountered waves of new crises, foreclosure crisis, bank crisis, credit crisis, economic crisis... crushing any recovery at the time. But strong fundamentals continue to fuel a strong Real Estate market in Edina and Southwest Minneapolis.
January has been beautiful in the Twin Cities, maybe it's the weather, or the good employment numbers, or the fact that people simply can't wait … (0 comments)
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home buyer: Sound Advice for Today's Buyers - 03/01/09 08:49 AM
In spite of the media's talking points, multiple offers, over list price, and homes sold in just days are not uncommon today. Really it’s true. What!? It can't be true...Yes it is. Not at every price point, but, by and large, for the vast majority of areas and price ranges, the same facts hold true...there are TONS of LOW QUALITY or OVER PRICED homes sitting out there, but a dramatic SHORTAGE of QUALITY HOMES.The result: As really nice homes come on the market buyers who have been stewing, and waiting, and looking, for months all pounce on the good home. Multiple … (0 comments)
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home buyer: Tyrol Hills Real Estate Prices in 2008 - 08/21/08 08:17 AM
It's been a wild ride as of late, as home values rise in some areas and fall in many more, short sales and foreclosure complicate deals, financing challenges are everywhere and everyone is taking a careful look at their pocket book as the general economic news sours. But what's it all mean for YOU? Well, if you are a Tyrol Hills homeowner you are in luck!
Tyrol has always been in demand and today is no different. Tyrol averages about 2.54 sales per month, with 18 single family homes on the market; there are just 7 homes for each buyer in … (0 comments)
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home buyer: How to buy Short Sales and Foreclosures - 04/18/08 09:40 AM
Short Sales and Foreclosures Sales have stymied many a buyer in recent months. Banks are bad a selling homes in good times, and now they are overwhelmed. You might think that Buyers would be able, even encouraged, to scoop up these homes. Not the case, buying in a Short Sale, or Foreclosure situation is extremely frustrating, but, knowing what to look for will help you avoid the most common mistakes.
A Wall St. Journal artical today describes the situation quite well, with some good national stats. I'd like to add some local color to the story...
Number of Sheriff Sales in the 7 county metro … (1 comments)
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home buyer: 10 Things Your Realtor Should Be Doing - 03/10/08 12:06 PM
Every client I’ve represented has had different needs. Some need a lot of time, others need a lot of advice, and most need a mixture of both.
Here is a short list of the things I find myself doing most often for my clients. I thought it would serve as a good benchmark for consumers who want to know what their agent is doing for them.
10 Things Your Realtor Should Be Dong For You
** Before anything is done, Realtors should always explain Agency Relationships, to a prospective client, and disclose who they are working for, if anyone, at that time. **
1 Price Opinion … (4 comments)
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home buyer: How is the Condo Market in Southwest Minneapolis? - 12/09/07 09:04 AM
Real estate values in Southwest Minneapolis have traditionally been strong. Even during the slowest periods, values in Southwest have appreciated and demand has been high. Unfortunately, condo owners in Southwest may not fair so well this time.
There are very specific reasons the real estate markets has slowed. The number of properties for sales has increased dramatically, over building has occurred, and bad mortgage decisions are coming back to bite. But the question everyone is asking is not why things are slow, but rather, when it will improve?
Southwest condos are like the canary in the mine shaft, they will tell us if … (2 comments)
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home buyer: Is the Possibilty of a Lower Price, Worth Passing on the Perfect Home? - 11/20/07 04:41 PM
I had the privilege of providing an interview to Channel 5, KSTP today. Glen Barbour contacted my office asking for an opinion on an article he read in Smart Money Magazine.
The story essentially describes the falling housing market as a risky, but potentially good, investment. In particular it lists the Twin Cities as "overpriced" by 15%. Glen wanted to know what I thought about that, and if I thought this was the time to be buying, or selling, or if I suggest waiting a little for the market to change.
All of us in this business get asked, "when's the best time to … (1 comments)
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home buyer: My 15 minutes of fame - I'm in the news! - 09/05/07 12:25 PM
I guess Andy Worhal was right when he said, "In the future everyone will be famous for fifteen minutes"
But, in my case, it was more like 15 seconds.
KSTP asked Pat Paulson, another GreatMinneapolis agent, to help with a story on the condo market. They interview Pat Paulson at our office, and then I showed the reporter a unit we have listed.
While the piece took the typical media slant of telling the most dire story possible, I did greatly appreciate the exposure. It's an interesting experience, I'm very self conscious. Seeing myself on the news was really embarrassing, I really need a … (0 comments)
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home buyer: Loving the Market: Stocking-up on Real Estate - 08/28/07 10:31 AM
Lot's of people ask me why I'm so bullish on real estate right now. I sing the praises of this period constantly. I think it's great. It's like I've been given an unlimited gas card. Or a lifetime supply of my favorite indulgence!
But, most of my friends are surprised by my feelings. Not surprising given the gloom and doom preached by so many "experts".
First it is was the "Real Estate Bubble" then the "Sub-Prime Shake-up" now the "Credit Crunch", with all the bad press out there, it's a wonder why anyone is buying or selling!
In spite of all the turmoil in the market, … (1 comments)
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home buyer: Advice to Buyers - Don't be paralyzed by the "Buyer's Market"! - 07/05/07 10:16 PM
Many of today's buyers are mesmerized by the number of homes on the market. Its good advice to hear...don't be paralyzed by the market, if you find a winner, set the hook!
I recently had a couple buy a beautiful home in Lynnhurst Neighborhood of Minneapolis. These folks had run through a couple weeks of heavy house hunting. After seeing 20-30 homes, they knew what they liked, what the market was like, and what they get in their price range. They had become the "educated buyer".
We found the home they eventually bought, when it was re-listed (in our price range). It … (2 comments)
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Ben Kolkman Real Estate Author & REALTOR Southwest Minneapolis & Edina Minnesota
Minneapolis,
MN
More about me…
Results Support Services, Editor, Contributor, Blogger
Address: Minneapolis, MN
Office Phone: (612) 599-4161
Email Me
Ben Kolkman has been recognized by the local association of realtors and by local media as an expert in the Twin Cities real estate market. Ben leads discussion groups on marketing techniques for the Minneapolis Area Association of Realtors, Young Professionals Networking group. He was awarded the 2009 Super Agent award by Mpls St. Paul Magazine and Twin Cities Business. KSTP and WCCO have both featured Ben in their newscasts, and he is a regular contributor on the DIY Network "Sweat Equity" cable TV program.
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