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real estate market: I'm back! Spring in here and it's time to talk real estate market in Edina and Minneapolis - 01/06/12 04:09 PM
It's been a while since I wrote but I'm back in the mood as the spring real estate market begins taking hold in the Edina and Minneapolis housing market. As a native Twin Cities guy I am huge fan of winter and took some time off from writing to just enjoy the holidays and the season. The weather has been unseasonably warm, a blessing and a curse, but its time to start talking about the real estate market in Edina and Minneapolis!
During the 'off season' we still succeeded in selling and buying a good number of homes with our home … (0 comments)
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real estate market: Minneapolis Real Estate Market Strengthens All Summer - 08/29/11 12:14 PM
Good news for buyers and sellers in the Minneapolis real estate market. By all indications our local market has been marching toward recovery and general health all summer. "Twin Cities home buyers posted their 14th consecutive week of double-digit, year-over-year gains" according to the Minneapolis Area Association of Realtors. http://mplsrealtor.typepad.com/theskinny/2011/08/weekly-market-activity-report-3.html Autum will present the real yeast of this trend. As school starts and the cool weather settles in market activity will decline. We will be looking to see how this off season activity compares to past years'. … (0 comments)
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real estate market: Homes Selling Faster Than You Think in Minneapolis and Edina - 04/13/11 04:54 PM
Contrary to what you might think, some homes are selling very quickly this spring. Home buyers and sellers in Southwest Minneapolis and East Edina (Linden Hills, South Harriet Park, Country Club, Morningside, etc...) may be surprised when they see some homes selling this spring as if it were 2004 again.
In fact, two homes on my block (Linden Hills) went up for sale and were under contract in less that two weeks. While the average time on market continues to linger around 5 months, roughly 10% of homes (17 of 158) sell in under 2 weeks in Southwest Minneapolis and East … (2 comments)
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real estate market: Spring Market in the Twin Cities - Part 3 - 01/19/10 08:12 PM
Sales rising as new listings pour onto the market. Spring time in Minneapolis real estate is amazing. I'll update these figures weekly
The number of new listings last week rose 142% from the week prior, while pending sales posted the first weekly increase of the year. Spring is here folks, grab your boots and let go shopping!
This spring's listing activity is stronger than last year's. A significant number of these new listings have been on the market before, so don't be surprised if a few look familiar.
The rise in the number of pending sales … (0 comments)
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real estate market: Spring Market in the Twin Cities - Part 2 - 01/11/10 01:42 PM
Jan. 11 - Spring Market has started! Listing activity jumped last week, as predicted, with a sizable increase jumping up 54% from 446 new listings to 688. Pending sales stoped falling but have yet to rise, that should happen next week following all the new listings on the market.
** These numbers are for the entire Twin Cities market, and I share them for those interested in the overall market. There is an incredibul amount of variation from area to area, or between price ranges.
… (0 comments)
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real estate market: Spring Market in the Twin Cities - 01/07/10 10:37 AM
Twin Cities Metro Weekly Real Estate Activity
Believe it or not, the number of listings & sales is about to sky rocket in the coming weeks. It's amazing to watch. I'll update these figures weekly.
NEW LISTINGS
446 New Listings (as of Jan. 4th - down 49%)
874 New Listing (as of Dec. 28th)
PENDING SALES
392 Pending Sales (as of Jan. 4th - down 26.5%)
533 Pending Sales (as of Dec. 28th)
… (0 comments)
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real estate market: St. Paul MN | Historic Mansion | Condo For Sale - 10/10/08 09:17 AM
Historic Armstrong-Quinlan Mansion Virtual Tour
Rare Opportunity! Complete the interior restoration and build out of this important and historic townhome unit. 3 of 4 units have sold; this is the last one left! 2-story unit on the south, or river, side of the building featuring extraordinary views of the Mississippi, 11-ft ceilings, original banister, and over 2000 sq ft. Landscape and grounds are complete.
Completely re-done internally and historically preserved this one of a kind property remains connected to St. Paul’s early history, while enjoying modern heating, cooling, and finishing features.
Built in 1886 by … (0 comments)
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real estate market: Minneapolis, Minnesota: Local Brokers Going out of Business - 06/23/08 03:18 PM
There are plenty of brokers closing their doors these days. Both large and small, brokers have been hit hard by the slowdown in the market. By some estimates as many as 50% or Realtors will leave the business by the end of the year. There were only a few less deals done last year, a small decline, but the total dollar volume of these deals dropped by a lot more. Fewer agents, fewer deals, and still fewer dollars.
When the business changes, goes out of business or is just struggling anything can happen. Don't get hung out to dry, when your broker goes … (2 comments)
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real estate market: Minneapolis, Minneapolis: Local Brokers Going Out of Business - 06/23/08 03:14 PM
There are plenty of brokers closing their doors these days. Both large and small, brokers have been hit hard by the slowdown in the market. By some estimates as many as 50% or Realtors will leave the business by the end of the year. There were only XXX fewer deals done last year, an XXX% decline, but the total dollar volume dropped by XXX%. Fewer agents, fewer deals, and still fewer dollars.
When the business changes, goes out of business or is just struggling anything can happen. Don't get hung out to dry, when your broker goes under, or chooses to … (0 comments)
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real estate market: Minneapolis Minnesota | Real Estate Market Update | Downtown Condo's Heat Up - 05/27/08 01:09 PM
I've been singing the praises of our Twin Cities Real Estate Market for the past month now. Sign of improvement are all around. Many areas are still depressed, and others are shining, but the trends are finally headed in the right direct.
The Downtown condo market is really showing signs of improvement, and while it's too early still to say for sure, it could be just the news everyone's been hoping for.
I love downtown Minneapolis! Nothing against St. Paul, I've lived in Summit Hill, and still own a condo in Crocus Hill - St. Paul is great - but the … (1 comments)
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real estate market: 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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real estate market: Minneapolis, MN | RE Market | Recovery Begins: But Who Will Admit It? - 04/17/08 09:18 AM
Good news in Minneapolis Real Estate world... inventory levels are falling! We've all been talking about Buyers being able to "cheery pick" the best of the homes ("best" = cheep and nice), leaving all sellers in a bind trying desperately to be the best. Well that's beginning to change...
In all price ranges above $190,000 their are fewer homes on the market today than this time last year. MAAR's Housing Supply Outlook goes into detail. That's good news, but I'd expect Average Sale Price will continue to drop, in response to the flood of deals in the below $190 range, and buyers in this range still able to "cheery pick" … (1 comments)
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real estate market: Minneapolis, MN Real Estate Market: Week of March 31st - 04/03/08 07:57 AM
New Listings Down!
Hot on the heals of last weeks rising sales comes the news we've all been hoping for...New Listings were down 26.3% compared to the same period last year, and down 14% from last week.
New Listings are homes for sale added to the market this week. Prolonged declines in New Listing activity, combined with healthy sales activity, will eventually bring our market back into balance.
The root case of the market's recent softening is the imbalance in supply and demand. In spite of all the news stories, there is one fundamental issue, over supply. The result, Sellers must compete to sell their … (0 comments)
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real estate market: Investors Rush In - 12/28/07 09:47 AM
In love, they say, fools rush in. In the Twin Cities real estate market, right now, investors are rushing in!
It is the dark of winter (literally) here in Minneapolis, MN. There are 13.44 homes for every one buyer, in the Twin Cities metro area, more than ever before. It's hard to find buyers looking for a home this time of year, folks are either out of town, hosting guests, or headed to the gym. But, in the residential rental segment of the market, things are hotter than a yule log.
I'm headed out to look at duplexes with a client today. We were only able to … (9 comments)
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real estate market: What's the Linden Hills Housing Committee upto? - 12/21/07 08:28 AM
NOTE: Views and opinions expressed in this blog are not those of the LHiNC (Linden Hills Neighborhood Council), nor does LHiNC endorse or support the content posted here. This is the personal blog of Ben Kolkman. Ben is a Realtor in Minneapolis, Minnesota he is also the Chair of the Linden Hills Housing Committee and an Officer on the LHiNC Board.
The Linden Hills Housing Committee met last Tuesday. It was lively meetings full of new energy and ideas to fill the 2008 calendar.
First off the status of the NRP Phase II Strategy: Affordable Housing Trust Fund was discussed. Getting this … (0 comments)
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real estate market: Matt Lauer and Glenn Kelmen throw Realtors under the bus! - 12/14/07 08:53 AM
According to Redfin CEO Glenn Kelman, just interviewed on the Today Show, computer scientists have proven that Realtors have it all wrong...sellers should be listing on Craig's List, and should just give up if there is a foreclosure on their block!
Realtors we need to get our act together; I am fuming after watching the Today show piece. Against my better judgement I am going to post on this "in the heat of the moment".
The interview presented basic market realities, as some kind of new "science" that Realtors do not know!
If you believed the report, Realtors can't be trusted! We are … (11 comments)
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real estate market: Bush Rate Freeze: Government Intrusion or Artful Politicing - 12/12/07 07:49 AM
Much has been written about the President's rate freeze plan, and I am not an economist, nor a mortgage pro, but I do find history interesting. We all forget the lessons of the past, in the heat of the moment.
The current proposal is imperfect, yes, and it is a government intrusion, true. If that's news to you, you've got a lot of catching up to do. You didn't know the government was imperfect, or manipulating the market, com'on really? Read Scott Gormley or Rich Sweum or Kaye Thomas for detailed description and analysis of the plan.
Bush's rate freeze, is far better than similar plans in the past. If you disagree with … (2 comments)
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real estate market: 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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real estate market: Tear Downs will continue in Edina...for now - 12/05/07 12:27 PM
The Edina City Council (ECC) decided not to vote on the proposed moratorium on teardowns at last nights meeting.
With respect for the massing and appropriateness concerns, a temporary ban helps no one. ECC will continue to research the issue and work on developing effective policy that balances neighborhood improvement with neighborhood preservation.
The temporary ban would have had the unintended consequence of placing into limbo hundreds of buyers and sellers. For every "monster house" there is a long chain of transactions connected to it, for example, the owner of the "tear down" may be an elderly couple who want to buy … (2 comments)
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real estate market: Giving thanks for a good real estate market - 11/27/07 12:17 PM
As I thought about what a great Thanksgiving my family had, I began thinking about the real estate market this year and all I have been blessed with professionally. Then I realized we are all lucky to have a housing market, offering a sound financial investment, even in the worst of times!
Community engagement holds a huge value to me, and this year I was elected to be an officer on the Linden Hills Neighborhood Council, and serve as the Chair the local Housing Committee, I also joined the National Association of the Remodeling Industry. I was on the news a couple … (1 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
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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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