Twin Cities Housing By The Numbers
Posted on May 28th, 2011
In the Twin Cities we do an excellent job of reporting housing numbers and tracking supply, demand and trends. Sometimes though the numbers say too much or say too little. Ive taken a couple pieces of data to focus on today:
23,851
Approximate number of homes for sale on the MLS in the Twin Cities
2,956
Approximate number of homes marked as for sale that have an accepted offer subject to a contingency, and the seller is still accepting showings
35%
Percentage of homes for sale listed as short sales that have accepted offers
14%
Percentage of homes for sale listed as bank owned that have accepted offers
5%
Percentage of homes for sale listed as traditional sales that have accepted offers
Takeaways:
- Our effective inventory of homes for sale is about 12% lower than the numbers reported
- Fully 1 in 3 short sales listed for sale already have an offer the majority of these are waiting for the sellers lender to approve the sale, a process that can take months.
- Since active w/offer is not displayed on consumer web sites, consumers are sometimes frustrated to find out that the home they had an interest in already has an accepted offer.
A Mortgage Modification in Just 7 Days!
Posted on April 29th, 2011
The Program
For the past several weeks the Minnesota Home Ownership Center has been piloting an innovative program with Fannie Mae that offers a new and more efficient way for Minnesota homeowners with Fannie Mae loans to access assistance. This program, known as the Fannie Mae Partnership, builds on the strengths of the Homeownership Advisors Network and maximizes the relationships Fannie Mae has with servicers.
Dedicated Fannie Mae staff that office at the Minnesota Home Ownership Center are able to greatly enhance and improve communications between counselors, servicers and investors and have been empowered to expedite the workout process.
The Process
The process starts with a homeowner contacting a nonprofit foreclosure counselor to discuss their situation and determine if they are a good candidate for a mortgage modification.
I’m Hiring a Licensed Assistant – Interested?
Posted on April 17th, 2011
I am looking for a licensed assistant to handle client communications, lead management and some backoffice support.
Skills required:
- Current active real estate license or ability to re-activate license
- Experience with Word and Outlook
- Great customer service skills phone calls and emails with clients and vendors will be a primary part of the job
- Ability to stay organized and handle long-term projects as well as last-second emergencies
- Android or iPhone for access to email when not in office
This is a 30-40 hour/week hourly paid position.
Interested? e-mail your resume to: aaron [at] aaronsold.com
Twin Cities 2011 Housing Market Prediction: Party Like It’s 2009
Posted on April 11th, 2011
At this time last year the housing market was heating up as the first time home buyer tax credit was nearing its expiration. Just as soon as that tax credit expired, the Twin Cities housing market went into the meat locker for the rest of the year. Now that were finally past both the tax credits boost and its bust, what does 2011 hold for us?
One of the key housing metrics we look at is new Pending Home Sales. These are homes for sale that have accepted offers and are on their way to closing. Here are the last four years of pending sales activity:
It is easy to see how much of an outlier 2010 was! We
Tags: Housing Market, Market, Twin Cities
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Cash Buyers Nearly 30% of All February Twin Cities Home Sales
Posted on April 1st, 2011
February 2011 saw a new record for the percentage of homes sold to cash buyers: a whopping 28.3% of all homes that closed in the month were purchased with cash.
Tags: Cash Buyers, Home
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