Selling your Twin Cities Minnesota Home
6 Reasons to Sell Your Home Now
The last several years have been tough for some families who wanted to sell and move up to a bigger home. Often they found they owed more on their property than it would bring on the current market. Perhaps they did not find themselves “underwater” but needed more equity to finance that purchase.
There are empty nesters who no longer want the responsibility or expense that comes with the 4 or 5 bedroom property and are ready to downsize to a smaller house, a townhouse, or even that trendy chic loft downtown they have always wanted.
Are you a potential seller waiting for the right time to list your house for sale? Let’s take a look at current market conditions because now may be the time to make a move!
1. Current inventories of properties for sale are low
Inventory levels of houses for sale continue to remain low. The Market Activity Report published by the Minnesota Area Association of Realtors for the month of March reported that new listings had increased...
Twin Cities Housing Market Predictions for 2014
Last year the Twin Cities Metro area saw the real estate market spiraling upward towards recovery.The hallmark was a competitive market with record low interest rates coupled with low prices and a sense of optimism bolstered by a firmer job market and a stronger economy.
Predictions for the 2014 Twin Cities Housing Market continue to be optimistic for continued growth, but at a more moderate pace than the previous year as the real estate market and the broader economy continues to improve. We can expect Minneapolis-St. Paul Metro home values to continue to rise from 4-6% in the coming year and although interest rates are on the upswing, they are still historically low and expected to bounce around between 4-5% for most of the remaining year. Foreclosure numbers continue to decline, and Minnesota with a low 7% foreclosure inventory, will contribute to sustainable home values. Almost 2 months into the year we see a stable housing market emerging as we head into the last month of the quarter. What trends are likely to emerge as we head into the spring thaw and what will that mean for buyers and sellers?
Good news for sellers
• Low inventory of property for sale, especially in the early part of the year, lead to increased home values
• As home prices continue to rise, more homeowners will...