I was watching a Celtics/Lakers game when a commercial came on for a financial services firm. I was barely paying attention, but then I saw the phrase: "Time; Not Timing". Great advice.
Markets will always cycle … (5 comments)
real estate market: I Wish I Would Have Bought Back Then - 04/29/08 12:13 PM
I had the chance to purchase a house for $25,000 in 1976. My friend decided to sell it to his sister instead. Three years later it was worth $50,000. I finally bought a couple of years after, but found myself wishing I had bought a bunch of property "back then". I was … (1 comments)
real estate market: What Comes Down Must Go Up - 04/24/08 02:44 PM
The first stage of the rebound is well underway in the Twin Cities real estate market. How it plays out remains to be seen but history and current trends give us good clues. Markets are cyclical and excesses, whether up or down, sew seeds bearing the opposite reaction. The harder the … (0 comments)
real estate market: Zillow is Stupid - 02/07/08 10:34 PM
I was just plugging in addresses for fun to see what Zillow's Zestimate is. According to the Great Zillow, one property that just sold for $70,000 is worth $176,000. Another one listed at $159,000 is worth $246,000, and another one that was listed at $242,900 and has sold and closed, is … (5 comments)
real estate market: The Case Against Case (Shiller) - 02/07/08 09:53 PM
The Standard & Poor's/Case Shiller Index was released Tuesday, January 29th, showing an 8.4% drop in real estate prices in November, 2007 from November 2006. Case Shiller is a highly reported index that is alleged to be more accurate than the statistics provided by the Realtor associations. The argument is that the … (2 comments)
The 2007 statistics for the Twin Cities real estate market were released at a press conference by the local real estate associations on January 16th, 2008. The highlights were as follows: Listings processed, 105,004, down 2.8% Sales, 40,055, down 16.4% Inventory of homes for sale at year end, 26,675, up 16.8% Average sale price, … (0 comments)
real estate market: Telling a Story - 12/14/07 04:04 PM
I just made an offer on a property today. After selling my house this summer, I'm trying to find a new home. This is my fifth attempt to buy something. That's right; I've made five offers on five different properties. I lost the previous four in multiple offer situations. Yea, I … (3 comments)
real estate market: Signs of the Bottom - 11/24/07 03:53 PM
We are often asked if it's time to buy yet. Has the market hit bottom or is it still falling? The simple answer is: If you are ready to buy, now is a good time. "Maybe you're right Pat, but isn't that what you Realtors always say?" Perhaps, but then we're … (0 comments)
real estate market: The Greatest Investment - 06/30/07 02:20 PM
It may seem strange during this time when all we hear is "Buyers market" to call real estate the Greatest Investment. But it has been and will continue to be the best tool used by most Americans to build wealth. There are two primary reasons why we rate this as the … (2 comments)
real estate market: Market Needs to Find Itself - 06/25/07 04:47 PM
The National Association of Realtors reported today that sales of existing single family homes dropped to an adjusted annual rate of 5.99 million in May, the slowest pace since June 2003. Pardon me, but I thought 2003 was a pretty good year for real estate sales. The median sale price was … (4 comments)
real estate market: Minneapolis Condo Conversion Boom; Why it Happened and How it Helped the City - 06/15/07 03:50 PM
Minneapolis has seen an unusually high number of rental apartments converted to condominiums in the last few years. This has received considerable negative attention, since some tenants have been forced to move and some affordable rental units have been lost. But the conversions came at a time when they were desperately … (0 comments)
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Question: When is the best time to buy?
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