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Tuesday, August 13th, 2013 at 12:31am. 210 Views, 0 Comments.
If you’ve been paying attention to the news coming out of Washington lately, you may have heard that Congress plans to shut down Fannie Mae and Freddie Mac. The plans would phase out the government-controlled mortgage guarantee giants over the course of five years.
The push to dismantle Fannie and Freddie is a result of the housing crisis the country has experienced. Freddie and Fannie teetered under a crush of massive losses on risky mortgages before being bailed out to the tune of $187 billion, about 2/3 of which has already been paid back to the government.
The House Republican bill would practically entirely privatize the mortgage market, andd limit the Federal Housing Administration to insuring loans only for first time home buyers and lower-income…
Wednesday, July 24th, 2013 at 8:29pm. 622 Views, 1 Comments.
As consumer confidence and incomes rise, home building activity in the Twin Cities metro area continues to rebound. According to the Builders Association of the Twin Cities (BATC), housing construction so far this year is up 23 percent from the same period in 2012, putting builders on a track for their best year since 2007.
During June alone, 496 permits were issued to build 912 units. Minneapolis led the top five cities permitting 380 units. Brooklyn Park and Woodbury were in the second position with 31 units, followed by Ramsey with 29. Construction of new homes in Blaine MN, Chanhassen MN and Lakeville MN tied for fifth place with 23 units permitted each.
So far this year, builders were issued 2,379 permits to build 4,204 units, a dramatic change…
Tuesday, April 30th, 2013 at 12:47am. 815 Views, 2 Comments.
The Twin Cities real estate market is heating up and sellers are winning the season so far. Inventory is getting a bit tight, resulting in higher sale prices and even multiple bids.
The jackpot is a little unecpted and too soon for some home sellers, though. There are stories of home sellers putting houses on the market and having offers withint days. When they accept so soon, a whole new flood of concerns is coming forward: What to do between houses - after one has sold, but before the new home has been bought?
This concern may be causing some sellers to hold back. Home sellers don't just want to unload a house and be homeless for a while, they want to have a prospective house that they want to buy in mind before putting their house on the market.
Wednesday, March 14th, 2012 at 1:11am. 844 Views, 2 Comments.
A new green building certification program is available for homes in the Twin Cities area.
The Builders Association of the Twin Cities has developed and recently rolled out its MN Green Path program. This program aims to encourage energy efficiency for green or energy efficient homes. Compared to standard homes, green homes are healthier, safer and more cost-effective to maintain.
Minnesota’s Green Path provides many options for developing more efficient homes. Some of the opportunities that could lead to a MN Green Path home include:
- Energy efficiency features such as high performance windows, insulation, and energy-efficient appliances and lighting.
- Water conservation features designed to encourage on-site water recycling and water-efficient…
Thursday, December 1st, 2011 at 8:27am. 912 Views, 0 Comments.
Local and national housing statistics indicate that the real estate markets in the Twin Cities and surrounding areas are still struggling. Here are brief summaries of three recently released Twin Cities real estate reports:
- The Case-Shiller Home Price Index, which follows repeat sales of properties, indicated that during September, prices in the Minneapolis - St. Paul metro area were down 7.4% compared with 2010 and down just 0.9% from August.
- A report from the Builders Association of the Twin Cities showed that Twin Cities home builders requested about the same number of permits in November of this year as they did in 2010. However, the number of units they planned to build decreased from 685 to 442. Construction activity for the year overall is down…
Friday, November 18th, 2011 at 6:50pm. 735 Views, 0 Comments.
It is that time of year. Once again, the Midwest Home Show has made its appearance in the Twin Cities area.
The Midwest Home Show is at the Minneapolis Convention Center from November 18 through th 20. At the event, more than 200 of the Twin Cities’ best remodelers, landscapers, designers, retailers and home improvement specialists will display latest home and garden trends and products throughout its halls. Experts in each aspect home ownership, improvement, remodeling and repair will be available to answer questions.
Check out the Midwest Home Magazine website to learn more about the 2011 Midwest Home Show.
Tuesday, September 20th, 2011 at 1:00am. 1230 Views, 1 Comments.
For the second year in a row, RE/MAX Results is hosting its Results.net Film Festival, a contest in which amateur film-makers and video enthusiasts can creatively highlight their community.
RE/MAX Results wants to know what you like about your city or neighborhood. What makes it great? What makes it tick? Show us the heart and feel of your city or neighborhood. Use comedy, drama, documentary or whatever format you desire, but the very most important thing - be creative!
To enter the contest, submit a video using one of the three methods described in the Rules and Regulations. The length of the film must be less than three minutes. Entries that are derogatory towards another community, any company or business or any person, group of people, race or religion…
Tuesday, July 19th, 2011 at 12:52am. 1201 Views, 1 Comments.
Pending home sales initiated in June within the Twin Cities area were among the highest in nearly five years. Buyers may be taking advantage of low prices and near-record low mortgage interest rates before they start to climb.
The Minneapolis Area Association of Realtors reports that though there are some good signs occurring in the local Twin Cities residential real estate market, there's still a ways to go. Though pending sales rose in June, closed sales fell 11.4% compared with a year ago. The median sale prices fell 9.3% from a year ago to $165,000. That is still better than March's low of $140,000.
It's unclear whether the latest uptick in buying activity is a blip or a sign of a sustained recovery, given an economy still struggling to gain traction and…
Monday, April 18th, 2011 at 12:56am. 1097 Views, 0 Comments.
This Old House magazine recently published its fourth annual list of North America's most timeless neighborhoods from each of the 50 states. Minneapolis' Prospect Park was chosen to represent Minnesota.
House hunters and residents alike delight in Prospect Park's mazelike streets, which are lined with trees planted nearly a century ago and homeowners' pristine gardens. "In Minnesota, we're serious about our gardens, and in Prospect Park you can ratchet that up quite a bit," says Joe Ring, longtime resident and historic preservation committee chair for the Prospect Park East River Road Improvement Association. Sandwiched between the University of Minnesota campus and the border of twin (and rival) city St. Paul, this neighborhood has loads of character—and…
Thursday, February 24th, 2011 at 3:45pm. 907 Views, 0 Comments.
The homeownership rate within the United States declined to the lowest rate in 13 years during the fourth quarter of 2010, according to data released by the U.S. Census Bureau. At 66.5%, the home ownership rate was 0.4% below the third quarter and down 0.7% compared to the previous year.
Across all measurements, statistics for homeownership rates are down. The largest decline happened in the West, where the number of owners fell 1.3% from the previous year. The homeowner housing vacancy rate rose to 2.7% as foreclosures continue to afflict real estate markets, up from 2.5% the third quarter. The South and Midwest tied with 2.8% of homeowner housing stock left vacant. Statistics for the South represented a 1.0% decline from the year before, while the…
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