If This is a Buyers Market, Why Can’t I Buy at a Discount?
The question is best answered with an example. A hypothetical buyer looks at 24 homes in a strong buyers market.* The market includes eight months of inventory, meaning three of the 24 homes will sell this month. Of the 24 homes, six are of good quality and condition, six are poor quality, and 12 have potential. Two of the six good ones and one of the 12 potentials are priced very competitively and are the three that will sell. Our buyer recognizes the three as the best available opportunities and decides to offer on one. The other buyers looking in our ...
Richfield ‘Vacant Building’ Ordinance a Power Grab
The approval of a new Vacant Building Ordinance by the Richfield, MN City Council has opened the door for significant infringement of private property rights, and Richfield homeowners are upset by it’s quick passage. Imagine having an accident or getting sick and spending a few months in the hospital. You are sent home to recuperate only to find that you can’t occupy your own home until you... [Read more about this property...]
HOUSING CRAWLS ACROSS THE FLOOR
This is a Minnesota housing market dominated by distressed sellers and bargain hunting investors. Traditional Minnesota home buyers and sellers made an appearance in 2009 and early 2010 to take advantage of the tax credit, but have substantially withdrawn since. The Twin Cities market stats for February 2011 reflect a focus on low priced foreclosures and don’t compare well to last year’s artificially... [Read more about this property...]
American Dream or Illusion? Each Foreclosure Has a Story
Bill spent the last half hour in his home waiting for the Sheriff to enter and physically remove him. He had the solid doors secured, but that can’t stop a guy with tools. Refusing to open the doors, he just watched and waited. I met him under the same circumstances three months ago, surprised to find the unaware, frail and vulnerable man with multiple dogs and cats. I called off the lockout... [Read more about this property...]
Is January Home Price Decline a Big Deal?
The median price for homes moved downward to $140,000 in January, a 10.4% decrease from January, 2010. An in depth analysis reveals that distressed sales accounted for a greater market share of the sales this year. Since foreclosures sell at substantially lower prices, this January’s mixture of sales had reduced prices. In fact, traditional (non distressed) sales, actually had a 1.9% increase in... [Read more about this property...]
Case Shiller Suggests Double Dip Decline in Home Prices
November 2010, home prices were down from October by 0.4%, and from November 2009 by 1.6%. In the Minneapolis area, the declines were 2.1% and 4.4% respectively. “With these numbers more analysts will be calling for a double dip in home prices…the 20 city composite is just 3.3% above it’s April 2009 low, suggesting a double dip could be confirmed before Spring…” Rather than criticize the... [Read more about this property...]
It’s Your Move!
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Welcome to PatPaulson.com. Pat is a leader in Twin Cities Real Estate with EXIT Realty Metro in the St. Paul/Minneapolis, MN real estate market.Due to the changing market, Pat puts a strong focus on listing and selling REO (Bank-Owned) properties for Bank of America and other banks. Pat and his professional REO Team enjoy handling foreclosures and helping buyers in the Twin Cities.
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Patrick Paulson (EXIT Realty Metro) - Real Estate Agent - Minneapolis, MN
