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612-250-0119
Coldwell Banker Burnet, Edina Regional Office

7550 France Ave. S.
Edina, MN


Rose Hart is licensed in MN


CLUTTER
Clutter happens slowly, requiring years to accumulate the very useful, and the now profoundly useless, but Real Estate agents generally place "Clutter" at the top of the list when placing a home on the market. People find their homes have become the "Family Heirloom Museum," or a cheap and convenient storage spot for "until the kids get settled."

It's a tough choice, but there are professionals who can help. Having a really good professional Organizer is like a psychologist for your home and belongings. How to pick the best organizer are outlined at the National Association of Professional Organizers web site. http://www.napo.net

 

Rose Hart's
OUTSIDE

Housing Market Update

Its almost become a pattern, and a pattern that's almost encouraging! The April 28, weekly data from the Minneapolis Area Association of Realtors shows the Twin Cities housing market has bucked the national trend in that it's not only stopped falling, but rather it's improved in several critical areas.

Typically, springtime in Minnesota brings an increase in New Listings, but the latest data from MAAR reveals New Listings are down 14.9 percent from April 28, one year ago. Pending Sales jumped 21.4 percent, and the Months of Inventory decreased to 4.8. This represents a startling 28.0 percent decrease of inventory from the third week of April in 2011.

The Housing Affordability Index reflects this tightening inventory, slipping one seventh of a percent and nearing its overall historic average. Creeping along behind this trend is the Percent of Original Price, which increased slightly since the beginning of the year by 3.8 percent, to 92.1 percent.

What does this data mean for the prospective homebuyer or a real estate investor? It means that frequently there are multiple offers on very desireable properties: These are properties in the highly sought- after $100,000- 150,000 price range, properties with terrific amenities and in good to excellent condition; and of course, properties in a great location.

Generally though, the question on everyone's mind is the number of foreclosures. According to HousingLink, 2011 foreclosures in Minnesota were down 17 percent from a brief spike in 2010. The data from the Minneapolis Area Association of Realtors show mixed results for all three types of distressed properties: Traditional, lender-owned and short sale, but the overall trend is downward. Furthermore, for distressed properties the Median Price is headed up, Days on Market are going down, while the Percentage of Original Asking Price increased for all three catagories.

The appearance of a recovery in the metro Twin Cities area housing market looks rosier than the national average, and buyers may need to adjust their expectations accordingly. Call Rose Hart with all your home buying and selling questions 612-250-0119

References used for this article:
http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf
http://www.housinglink.org/Files/ForeclosuresInMN_2011_Annual.pdf
http://www.mplsrealtor.com/downloads/market/FSS/fss.pdf
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