The February Monthly Skinny from the Minneapolis Area Association of REALTORS® was released last week. They say time flies when you are having fun...Well, I have been having fun working with several buyers and traditional sellers to get their homes prepared for the spring market so I missed posting the January Skinny. So...It is Double Feature time!
The January Skinny was a year end update for 2009 as we closed the book and took a huge step toward a balanced market in the Twin Cities. As many of the community snapshots I have posted over the past 3-4 weeks have stated, this is due to many factors. Most noteably, historic affordability, low interest rates, the first time buyer tax credit and pent up demand.
The February Skinny recaps a slow start to 2010. While traditional sales were finally up, home prices are stabilizing and market times are down, there is still reason to be concern. The tax credit for homebuyers that has spurred home sales over the past few months will soon expire. Add to that, the Federal Reserve has announced it will no longer purchase mortgage backed securities which is predicted to cause interest rates to rise...2010 will be an interesting year for buyers, sellers and home owners.
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor
Teri,
Good video about real estate, buyers love this kind of information, so keep the good work and I it's always a pleasure to check your blogs !
Feb 25, 2010 08:10 AM
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re
Good to see your market moving in the right direction. I'm ready for Spring.
Feb 25, 2010 01:30 PM
Retired - La Jolla, CA
Retired
Hi Teri, The videos didn't pop up on my version. The site has really slowed down in response time.
Anyway, interesting points on the what the market's will do after April, and if the rates tend up that will slow down many would be buyers into postponing while they consider the ramifications. ( procrastinate ) Of course then, if they continue to wait, they will be shut out all together. I know that at 5% and below , a whole lot of people are qualifying and we can only hope they take advantage of the market while they can.
Feb 25, 2010 02:11 PM
Retired - La Jolla, CA
Retired
PS, After I posted my comment, I went back up and there they were, (the Skinnies) popped right up on the screen.
Feb 25, 2010 02:13 PM
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
William--Glad the videos started working...The comments are recaps from the second video. Interesting questions and only time will tell.
Feb 26, 2010 01:05 PM
Rainmaker
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722,896
Teri Eckholm
REALTOR Serving Mpls/St Paul North & East Metro
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Theresa "Teri" Eckholm/Boardman Realty assists Minnesotans to find their way home with helpful tips and quality service. Dedication to customer service has made Teri the REALTOR® of choice for families in Blaine, Forest Lake, Ham Lake, Lino Lakes and Wyoming areas. Licensed in MN.
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