In the 13 county area of the Twin Cities MN, the housing market holds strong and is predicted to continue in this way.

In comparison to stats at this time 2008, the average days on market is down by 8 days.   The active listings are down by 18% and the pending sales is only down by 2.5%.   The supply & demand ratio is at 9 homes available per buyer.   This number is down 3 from 12 per buyer last year at this time.  

So all in all, the market is holding steady and going in the right direction.   It’s predicted to continue in this way into the year 2010.   With affordable prices and interest rates holding steady in the 4.5% -5% range, we expect good activity this 1st half of the upcoming year.  

Now is definitely the time to get in the game.   Get in touch with a trusted real estate agent to find out the stats for your particular market area.   Real estate is very specific, sometime as specific as to your own neighborhood.   So check into it and make those important decisions for your future home ownership.   Make you dreams come true in 2010!

You can contact me with trust & confidence at sgrangroth@kw.com or 763-234-4298. Visit my website at www.suegrangrothsells.com

The tax credit of $8,000 has been extended.   It’s available now to 1st time home buyers who are under contract by the end of April 2010 and can close by the end of June.  

It’s also been expanded.   A credit of $6,500 is being offered to repeat buyers who have owned their current homes for at least 5 years.

Is this a good thing?   I think it will help the market and therefore, the economy at least for a period of time.   However, the interest rates may change the whole picture if they start rising.   I can only home they’ll rise at a slow pace.  

Another factor is how much active inventory  will it  create after the 1st of the year  of those traditional sellers just itching to purchase that great move up or downsize deal?   I think this will motivate those fence sitters into action and it could have an adverse effect if the market gets flooded.   We already have the foreclosure inventory to work with.   How many buyers will come out of the woodwork & purchase?   Hopefully MANY!

During the week of Oct 11-17, there were 954 purchases agreements signed in the 13 county area of the Twin Cities.   That number is up by 54.4% from that particular week last year.   2/3 of these pending sales were priced under $190k.   This is a clear indication that the 1st home buyer tax credit is what’s given this kind of boost.   The deadline to close for this $8,000 tax credit.   It’s currently  Nov. 30th.  

What will happen after that?   No doubt, there will be a significant down turn in the market.   Not only due to the tax credit deadline, but also the winter months will be upon us.  

However, as of yet, the interest rates are hovering around the all time low of 5%.   It’s predicted that the home prices have leveled and will remain so for another year or two.   Due to the reasonable interest rates and the affordable prices, market activity will continue at a steady pace.   These two factors have encouraged sellers to get some work done over these winter months and prepare their homes for the market in the spring.   It’ll still be an awesome time to move up or to down size for quite awhile.

I’ve heard rumors of the interest rates starting to climb in the near future.   It’s also noted that the foreclosures are far from coming to an end.   They will trickle on the market for another year or so.   With these predictions for the future, I fear the housing market will experience another  slow down to an uncomfortabe rate as was experienced in 2008.  

How do you make decisions for your future home ownership when so much is unsure in the housing market & the economy?   The first step is an informative, experienced & educated real estate agent.   I can be just that for you.

http://www.suegrangrothsells.com

sgrangroth@kw.com

In the 13 county area of the Twin Cities, we are seeing varying statistics.   But the stats are certainly proving to be better than last year at this time.   Pending sales is up by 22%.   This is exactly what we need.   However, we still have 6.8 homes available per buyer.   That’s not a bad number, but it’s not the best either.   We expect that to decrease after the tax credit deadline and also with the winter months ahead.   But come spring…things should be back on track again and we predict the momentum to continue.   This is sure to happen if the tax credit is extended and surely if it’s expanded to all buyers as is being proposed to legislature.   The foreclosure market is expected to continue next year and the interest rates are expected to remain in the 5% range.  

Potential buyers & sellers should start figuring out the details for their purchase or next move.    Get in on the game while it’s still good and hot.  

We know that the market is different per locality and even per neighborhood.   Email me and I’ll fill you in on what exactly is happening in your home town or neighborhood.   sgrangroth@kw.com

Alot is in it for the “traditional” seller today.  

The next month of October is a unique window of opportunity to start with.   If you’re at all thinking of selling but not sure if you can meet the market’s demands, now’s the time to at least give it a try.   Here’s why:

The forclosure inventory is dropping due to all the 1st home buyers out shopping.   They are all trying to get a closing by the end of November to get their $8,000 tax credit.   The forclosures aren’t coming on the market fast enough to satisfy all the buyers.   The short sale properties have no timing guarantees, so they are being shied away from right now.   Who would the buyer love to work with right now?   The actual seller with NO banks involved.   One that can get answers in a timely fashion and close on time.   They’d be willing to perhaps pay the extra in order to  get their credit.  

Sure, it’ll take some fast thinking and figuring on the seller’s part.   But come up with a plan if you’re the lucky seller to get a buyer.   For instance, think of renting for a period of time while you do your shopping for that smokin’ deal.   You’ll then have a strong chip for negotiating…no contingency of selling your property first.   You’ll be ready to buy immediately when the deal hits the market.   You’ll be the first to nab it.   The deals will continue to filter in for quite some time, so there’s no rush for you 2nd home buyers.   You can afford to have patience in finding the  perfect “move up” or “down size” home.

Check out my featured properties by clicking on this link www.suegrangrothsells.com

Well, things are really going crazy in the $150k and below range.   This would be due to the 1st time home buyers trying to get a purchase and close by the end of November so they can take advantage of the $8,000 tax credit.

It’s even a little stressful and not such fun trying to get into a property first and write the best offer.   There are multiple offers on every one.   The next up market it also doing better.   The buyers are listing and coming out of hiding to pick up on some great values.   With the interest rates hovering the 5% mark, why would you if you can?

The forcast for forclosures is that they will continue to trickle in at all time low prices.   We  realtors are doing our best to try to extend the tax credit so that more can get in on that deal.   The prices will continue  in this  affordable range for quite some time yet.   Possibly even  up to 2 more years.  

Some have asked if the short sale purchase is better.   Short sales are great purchases.   They just take more time & patience.   Some want to know if it’s the time to sell while the buyers are out.   Yes,  definitely if  it’s possible.    Some want to know  what to do if the house they are in is becoming unaffordable.   Whatever  the situation,    try NOT to foreclose.   First try working with your mortgage company.   It takes a ton of persistance and patience.   If that’s not happening, then put it on the market &  try to short sell it.  

In making  all of these choices and important decisions, your best tool to success is a good  helper.   A trustworthy & educated realtor  would be your best  bet in getting the guidance & help you need.   I can be that realtor!   763.234.4298

www.suegrangrothsell.com

sgrangroth@kw.com

TIME IS RUNNING OUT!!!

The $8,000 tax credit has a deadline of November 30th.   A 1st home buyer must close on the purchase of a property by December 2009.   So time IS running out, but there’s STILL time to latch onto this incentive to get off the rental boat and join the purchasing one.   With prices so affordable and interest rates so reasonable, why NOT JUMP SHIP?

We can’t predict exactly what’s going to take place in the near future with the housing market, so the message today is to use this tax credit while you can.   Of course it’s also “if” you can.   There’s the qualification process that needs to be done first.   This may be the most difficult hurdle to jump and it may take some time.   Therefore, DON’T WASTE ANYMORE TIME sitting on the fence of your rental property!   Get into a trusted lender and work out the kinks and see if buying is an option for you today.   If it is….GET MOVING!!!

I can help walk through this sometimes overwhelming and confusing journey.   With all that’s going on with bank owned and short sale properties today, you’ll want to know that your agent is experienced and trustworthy.   Make the call today at 763-234-4298 and I can answer all your questions and get you started.    Also visit my website at  www.suegrangrothsells.com

Well, I’ll tell you…the housing market is experiencing quite a pick up.   Big Lake’s inventory along with the surrounding areas of the Twin Cities is dropping fast.   Buyers have come out of the woodwork.   It’s an exciting time!   Prices are finally affordable again and the interest rates are reasonable.   There are so many buyers on the search these last couple of months now that we are even experiencing multiple offers.

If you are a buyer, especiallly a first home buyer, and you’re still waiting for the bottom to come, you’re foolish.   We have no way of determining when the interest rates will climb.   Forcasters say it’s inevitable that they will start going up now.   We’ve already seen them go from the 4% range to the 5% range.   The price of the home doesn’t matter on a monthly basis as much as the interest rate.   NOW is the time to get locked into a great rate and go after that home you’ve been wishing to own.   Your monthly payment will be effected more by the interest rate than the sale price.   And that is what you should be concerned about.

There’s still plenty of inventory to choose from, so join the fun!   Visit a lender, get in contact with an agent and get your search started.   I can help in ALL of these steps, making it a stressfree & exciting journey.  

The national media which speaks of real estate statistics, is using huge numbers from 50 states.   We’re talking 124 million homes grouped together into one giant lump.   An analysis on such a large area & number, just isn’t accurate.

If you want a real estate analysis that matters, you need to look local.   Not by state either, but by neighborhood.   A local real estate agent would be able to answer questions you may have regarding the market on your particular street.

But keeping an analysis to even a town, is closer to true numbers than anything you can get from the national media.   For instance, the real estate market in Big Lake, MN  shows that inventory of on the market homes is down by 20% from a year ago and sales is up by 3.5%.   And the average sale price compared to a year ago is down by 25%.

These are the kind of local statistics you need to know when considering buying or selling real estate.   Get in touch with a real estate agent who knows and can share the numbers with you and how they can affect you. National and even local media can not help you with finding the details in your locality which you need in making important real estate decisions.

This past week following a lull of activity over the 4th of July, has shown a steady market in Big Lake.   Sure, the activity is mostly taking place in the 1st home buyer ranges, but that’s where the over-supply is right now.   We need to move that inventory in order to move on the the higher price ranges.  

 We see 8 new pending sales in the past  week and 9 new listings.   That’s not a bad ratio, but I agree, it could be better.   The interest rates are good and buying today will be the best investment realized for any individual.   Appreciation will start rise and you don’t want to have missed the opportunity during this great buying period.