Twin Cities Weekly Market Activity Report for WE Oct. 15th

Twin Cities Weekly Market Activity Report - Oct. 15th

Provided by MAAR

Twin Cities Real Estate Market Activity Repot

We're used to seeing housing activity slow down at this time of year. Trouble is, this seasonal slowdown is amplified when compared to a front-loaded 2010 selling comparably tax-credit-quarter season and a strong tax credit driven 4th 2009 selling season. The net effect is that year-over-year changes are comparing an incentive period to a non-incentive period. Keep that in mind in the coming weeks when looking over the latest housing market figures.

For the week ending October 2, sellers placed 5.3 percent fewer homes on the market. In sum, 1,541 new properties came online during the week. By comparison, over the past three months, the average decline between this and last year's activity is 9.1 percent.

The 630 pending sales during the week were 39.6 percent fewer than the same week last year. Since the second week of June, the percentage decline in buyer activity from the same week last year has ranged between 48 and 34 percent. That's not a pretty picture for the most recent four-month period.

Inventory continued along its growth path, checking in at 27,033 as of October 12. This was an 11.0 percent increase over last year at this time, which is the largest increase since the final week of January 2008. Market times and negotiations are starting to reflect this trend.

Be sure to visit ElkRiverHomes.com for more information regarding the real estate trends affecting Elk River, Otsego, Rogers, Big Lake and all of Sherburne County.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Twin Cities Real Estate Market Activity Report - WE 4/19

Twin Cities Real Estate Market Activity Report

With the final days of the tax credit ticking away, buyers and sellers are hitting overdrive in an attempt to cash in on the credit’s considerable incentives.

For the week ending April 10 there were a whopping 2,527 new listings, a huge jump of 47.9 percent over the same week in 2009. Only 28 percent of these are re-lists of properties that have already been on the market in the last year (the number was 33 percent a year ago at this time), so we know that many of these listings are brand new.

Pending sales were a little closer to year-over year figures, with the 1,084 signed purchase agreements just 3.6 percent above 2009 numbers. And proving the axiom that “Everything Rises Must Converge” the number of active listings is finally higher than it was last year. That’s the first time that’s happened since April 2008.

Two other important numbers this week:

Housing Affordability Index: At 206 this has dropped 5.5 percent from 2009. However, this number is still the highest it has been in several years.

Months Supply of Inventory: The 6.5 months of housing out there is the lowest it has been in several years.

Get the latest MLS listings at ElkRiverHomes.com and BigLakeLiving.com.  Personalized searches and saving.  Set up your own email notifications to see when new homes come on the market!

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

The Twin Cities Monthly Skinny - April

Twin Cities Monthly Skinny Recap for April
For the third month in a row we have seen a month over month in price gains. Sellers are getting offers closer to there asking price and there are almost a quarter less foreclosures currently on the market. Are things getting better?



Check out ElkRiverHomes.com for more information on the Elk River / Big Lake Real Estate markets and trends. Or contact Chad Elliot at chadelliot@kw.com for a personal analysis of your home.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Elk River Riverfront Concert Series

Elk River Riverfront Concert Series

Come spend an evening in downtown Elk River with your family and friends!  Drop in for a burger and beer McCoys' or the Depot then finish off the night with a ice cream cone at Daddy O's!

Concerts held at the River's Edge Commons Park in downtown Elk River at 7p.m.

• June 3rd               Rockin' Hollywoods Classic Rock n' Roll
• June 10th             Eagle River Country Rock
• June 17th             Rubber Soul Beatles Tribute
• June 24th             Bill Isles Folk
• July 1st                Bend in the River Big Band American Standards
• July 15th              Patchouli Folk
• July 22nd             Minneapolis Police Band Salute to Veterans
• July 29th              High and Mightly Rhythm and Blues
• Aug 5th                Dazy Head Mazy Alternative Rock
• Aug 12th              Mick Sterling Band
• Aug 19th              Chris Olson Elvis Tribute
• Aug 26th              The Dweebs Rock

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Twin Cities Market Activity Report - WE 4/12

Twin Cities Market Activity Report

Elk River / Sherburne County Real Estate Trends

The usually sproingy spring market is slowly slipping back into place after a few years of squish. Pending sales continue to outpace weekly year-over-year figures. The 1,122 purchase agreements signed during the week ending April 3 were 11.8 percent above last year.

Active listings have slowly risen all year and now have surpassed where the market stood at this point last year by half a percentage point. (That's the only plus sign you'll see on page 4 of the report.) Two other new values to take a look at this week: Days on Market Until Sale (page 5) has dropped to its lowest point in years. It now takes an average of 130 days to get a house sold in the Twin Cities.

Percentage of Original List Price Received at Sale (page 6) is moving in the opposite direction, rising 2.7 percent over last year. This should motivate sellers as we warm through spring and summer.

With the home buyer tax credit ending soon and the Spring Real Estate market heating up this is your perfect time to look for that new home! For the latest listings in Elk River and Sherburne County check out ElkRiverHomes.com.

Source: MAAR

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Twin Cities Market Activity Report - WE 4/5

Twin Cities Market Activity Report

The Twin Cities housing market continues its spring dance as the 2010 weekly numbers outpace the equivalent weeks of 2009. New listings for the week ending March 27 were at 2,240, 29.4 percent higher than during the same week last year.

Pending sales are up 13.8 percent over last year, and we once again broke the magical "1,000 margin" with 1,049 purchase agreements.

A stat to start watching closely is the ever-shrinking Supply-Demand Ratio. The ratio is squatting at 4.39 homes per buyer. That's a lot less inventory than we've seen in recent years, indicating that buyers need to move quickly to get the home they want, especially in the lower price ranges where homes are selling the quickest. - Provided by MAAR

Elk River / Sherburne County Real Estate markets are always changing. For updated information visit my website, ElkRiverHomes.com or call me at (651) 795-1147

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

FHA Changes - UFMIP increasing to 2.25%

FHA Changes - UFMIP increasing to 2.25%

You are probably all aware of the FHA changes which have been passed by Congress and will soon be in place. Deadlines are right around the corner, so here are some critical things you need to know:

– All FHA case numbers issued on or after Monday, April 5, 2010 will be subject to HUD’s increase in UFMIP to 2.25% (currently HUD’s UFMIP is 1.75%).

– The effective date falls on a Monday, therefore buyers really need to obtain their FHA case number by the preceding Friday, April 2, 2010.

– Since duplicate addresses (either the property being connected to a previous buyer, or our buyer being connected to a different property) may result in a delay in getting a FHA case number. Any FHA buyer who wants to eliminate any possibility of being charged the higher UFMIP should deliver their executed purchase agreement to their mortgage company as soon as possible - but no later then April 2nd.

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CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com