Minneapolis 2009 Real Estate Trends
download Nomad Another year has past. While the situation varies by community and price range, overall, голова болит секс
Minnesota buyers are getting better deals compared to just a few months ago because more homes and town homes are on the market.
More choices means that sales are taking longer and sellers are being forced to accept less than their asking price. Bidding wars and multiple contracts on the same house are still common.In short, the Minneapolis real estate market of the past three years is
cooling a little bit, but remains one of the strongest in the country.
Just ask Jane and Mark Stevens, who just purchased their first home in
Minnetonka. They were faced with a multiple offer situation with four
buyers. They offered $3,000 more than the asking price and bought
their dream home.
Betsy White, who moved to Minneapolis after living in Eden Prairie for ten
years says, “we put the house up for sale and the following day, we had
three offers. I’m so pleased with the IgotRealestate.com as they helped us
so much to sell our home and find a house we love. They are the best
realtors in Minnesota. We will definitely refer our friends and family to
them.”
Sales of homes in the $600,000 plus range began slowing down at the
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end of last year, and that trend has trickled down to less expensive
houses. Any home in the $300,000 to $400,000 range is still selling
quickly. Compared to last spring, the Minneapolis $600,000 plus range
was selling as quickly as the $300,000 to $400,000 range. While homes
selling for $200,000 or less still often sell the same day or week that
they go on the market.
Minnesota realtors say in general, Location, Location, Location. If you
want location, you are going to have to pay the price. Steve Johnson
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and his wife, Cindy, experienced sticker shock when they began looking
for a house. They were looking at homes in the $300,000 to $350,000
range. They relocated from southern Minnesota and were familiar with
the small town living. They looked at ten houses in Maple Grove before
making an offer on a four-bedroom house off Weaver Lake Road.
In the Minneapolis Lakes area, housing seems to never slow down. Lake
Harriet, Lake of the Isles and Lake Calhoun are still the most desirable
spots to be in Minneapolis. “The comfort of urban living is worth paying
for,” said John and his wife Christy. “I wouldn’t give up the walking paths
for anything,” stated Christy. “I need my daily walk around Lake Harriet
to start my day.”
In Hennepin County, real estate professionals say it is still predominantly
a seller’s market, especially in the $200,000 to $400,000 market. “I think the houses being on the market for just one day, has cooled down a little bit. There are still not enough homes in a particular price range that I can find for people,” said Ross Michelson, buyer specialist for the IgotRealEstate.Kristen and Jon Anderson looked at eleven homes before finding the
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three-year-old, five-bedroom house in Eden Prairie they moved into
this last month. The home was priced in the $400,000 to $450,000 range
and had been on the market for only three days. It took them five days
to sell their Apple Valley house, which sold for $300,000. “We had hoped
to spend less than what we did,” said Kristen, “but what we found when
we started looking for a house in the $350,000 range, there wasn’t
anything we saw that suited our needs.”
Lake Minnetonka is one of the most desirable lakes to live on in the
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Twin Cities, and because of that, buyers in the Lake Minnetonka market голова болит секс
have more choices because escalating prices in the past two years
pushed more houses into that category. “Lake Minnetonka is where I wanted to live,” said Mike Smith who just bought his $1.5 million home. “I think the luxury of the lake is worth paying for. I have been sailing for six years now and living on Lake Minnetonka makes it easy to get out weekly.”
