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Summarizing the Summer: Real Estate News in the greater Twin Cities Market

Brace Helgeson

Summer is flying by, and with autumn soon on the horizon, now is the perfect window to examine how June and July fared in the greater Twin Cities metro market. From our location in Eden Prairie to the heart of downtown Minneapolis, the Twin Cities region is booming these days, and the market shows it. According to the Minneapolis Area Association of Realtors, the Twin Cities posted record-high numbers in buyer activity in June 2017. Compared to this time last year, closed sales jumped 2.2%, amounting to 7,430 units closed in June. Pending sales posted a more modest, but meaningful gain at .2%. Though the market has been struggling to keep up with red hot demand, buyers are undeterred as momentum hasn’t slowed here in the Minneapolis region.


Saying Goodbye to Spring: How is the Minneapolis-area Market Faring in 2017?

Brace Helgeson

Summer is nearly in full bloom, and so begins the market’s busiest season. The month of June is the perfect halfway point to take stock of how real estate is faring in the Minneapolis and Eden Prairie areas, as well as on the national level.

Seller Activity Enjoys a Spring Boost: Your May 2017 Real Estate Market Recap

Brace Helgeson

According to a recent report from the Minneapolis Area Association of Realtors, sellers enjoyed a 1.3% bump this spring compared to the same time last year. What’s more, the number of closed sales rose a whopping 8.3%. Both are strong indicators of a robust market, where buyers are eager to lockdown their ideal property while mortgage interest rates are still enjoying historic lows.

What Winter’s Housing Market Activity Tells Us for Spring

Ryan Platzke

With the spring and summer buying and selling seasons ahead, now is the time to consider this winter’s progress in the housing market. According to the Minneapolis Area Association of Realtors, the months following the new year can be described as both "healthy and balanced,” a positive characterization of months that typically tend to have their fair share of the winter doldrums. Instead, early 2017 was growth in the areas new listings and pending sales, with a 3.1 percent and 4.3 increase, respectively, from this time last year.

What 2016’s Market Predicts in 2017

Ryan Platzke
Photo by www.bigstock.com
Now that we’re decidedly in the midst of the winter season, we can enjoy the benefits of hindsight as we examine how the housing market fared in 2016 and what its trends can tell us about the year ahead.

Perhaps the biggest real estate headline in 2016 was the swift ascent of median home prices, topping out at an all-time high and leaving sellers both happy and well-positioned for their next property. What’s more, closed sales reached an 11-year high in Minnesota, just shy of breaking their all-time record, this according to the Minneapolis Area Association of Realtors. In other encouraging news, foreclosure activity further declined while homes spent far fewer days on the market—a strong indicator of buyer enthusiasm and confidence. Surrounding Minneapolis areas, like Eden Prairie, also enjoyed a boost as the Twin Cities region continued its multi-year increase in population and housing development.

What the Experts Are Saying About 2017’s Housing Market

Brace Helgeson
Photo by www.bigstock.com
Two weeks ago, we highlighted some potential trends that pundits are predicting for 2017. Now, we look to experts in our field to deliver you some sound advice as we transition into February. At Helgeson Platzke Real Estate Group, we understand that buying a home is personal. As one of the largest investments that an individual is likely ever to make, we decipher the insight and feedback of our industry, then pass along that wisdom to you.

First off, according to the National Association of Realtors and the U.S. Census Bureau, home sales bounced up by 5.9 percent compared to last year, which means that all in all last year set 2017 up for success to come. What’s more, new homes are up by a highly encouraging 17.8 percent from last year, which means that low inventory issues that slowed progress in 2016 are being addressed, paving a bright path ahead for homebuyers and sellers alike.

2016 saw mortgage interest rates hover at near historic lows, as the Fed held off—for the most part—on major changes or overhauls to figures. As we head into 2017, the National Association of Realtors is predicting a slight climb in those numbers as we make our way towards spring and summer, but not to worry, the rates predicated are moderate and aren’t expected to hugely impact the average homebuyer’s bottom line too much.

Another factor that’s sure to brighten 2017 is the groundswell of positive builder sentiment. One of the biggest challenges of 2016’s housing market was inventory, which drove up home prices and made the market more competitive than ever. Well, homebuyers and sellers can take a deep breath of relief as builders are at work on new-build homes that amount to a fifteen-year high in sentiment. This means that new-home construction is on the incline, but builders are confident that progress will continue. This should alleviate some of the high housing prices out there, while making it easier for home sellers to transition to their next property without having to fight tooth and nail.

All in all, 2016’s steady progress set a compelling stage for the 2017 housing market. Here in the Minneapolis area, growth has been booming in the Twin Cities as well as in nearby suburbs like Eden Prairie, where countless Minnesotans are looking to buy a home in one of Hennepin County’s most desirable locations. Predictions for 2017’s housing market are encouraging, and buyers and sellers should take heart in the developments pundits are predicting. If you are looking to buy a home in the Minneapolis or Eden Prairie areas in 2017, begin your search today with the help of an experienced, top reviewed real estate agent who can guide you through every stop of the home buying process. Make 2017 the year you became a homeowner or finally found the home of your dreams.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Your Minneapolis Area Real Estate Forecast for 2017

Brace Helgeson
Photo by www.bigstock.com

With a brand new year ahead, it’s important to assess the direction we’re headed in 2017. Certainly there stand to be major changes afoot—from a new president to new seasons. With that in mind, we’ve taken the time to research a few suspected trends ahead in the New Year, so that you know just where you stand as we dive headlong in 2017’s housing market.

The New Face of the Suburbs
A big trend in 2016 was how desirable city amenities became. Folks looking to buy homes in the Minneapolis area wanted walkability, a bevy of trendy bars and restaurants, and access to all that the Twin Cities offers. As we head into 2017, the suburbs will begin to rival city neighborhoods when it comes to hip coffee shops and galleries. The new face of the suburbs, in top communities like Eden Prairie, will reveal even more reasons why life adjacent to the big city has everything to offer and more.

Millennial Market Surge
2017 will be a great time to buy a home in the Minneapolis and Eden Prairie areas, and real estate pundits are predicting that millennials will be more active than ever when it comes to participating in the Minnesota housing market. With inventory headed for a steady upswing, and mortgage rates still coming in at historic lows, first time homebuyers—which makes up a significant contingent of the millennial set—will take advantage of the many incentives out there to buy a home in the Twin Cities region.

Rates Remaining at Lows
Fresh off of the 2016 presidential election, the Fed will likely hold off on making any groundbreaking changes on interest rates, with any suspected hikes predicted to stay nominal. That means that homebuyers in Eden Prairie and the Twin Cities area can rest assured that buying a home in 2017 will be a financially feasible undertaking, with mortgage interest rates that would be wise to lock in.

2017 is poised to be a year of positive developments for the real estate market in the Minneapolis and Eden Prairie areas. If one of your New Year’s resolutions is to own a home this year, begin your search with the help of experienced, top rated real estate agents in the Eden Prairie area. No matter what your homeownerships needs, budget, or goals may be, our real estate agents know the Minneapolis area inventory in and out, ensuring that you’ll find the home of your dreams for a price you can live with. Don’t wait—lock in early 2017’s outstanding mortgage rates today.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.


Strong Demand and Solid Pricing Sums up the Winter 2016 Housing Market

Ryan Platzke

Photo by www.bigstock.comAccording to the Minneapolis Area Association of Realtors, there is considerably strong demand going forward as we make our way through the wintry season. To boot, home prices are fairing strongly, and inventory—though still trying to catch up to unprecedented levels of demand—is slowly but surely keeping pace.

Research from the Minneapolis Area Association of Realtors shows that demand is up by 1.6% compared to this time last year. While that might not seem like a marked percentage increase, it actually amounts to a thousands of additional properties purchased by homebuyers in the Minneapolis area. What’s more, closed sales increased too, just shy of a percentage point at .8%, amounting to a 4,791 additional closed home sales.

For home sellers eyeing the market—and potentially their next property—rest assured that you’re likely to get a solid price for your home, with reports indicating that the median sales price for autumn this year rose by 6.5% annually. Likewise, homes on the market are selling quickly, and attractive listings are likely to garner multiple bids. According to the Minneapolis Area Association of Realtors blog, "The average percent of original list price received at sale was 96.9 percent, 0.8 higher than last year. But the median percent of current list price received is 99.6 percent, the highest level since 2005.”

Judy Shields, the President of the Minneapolis Area Association of Realtors, commented on the surge, saying, "Demand is still soaring.” This is encouraging news due to the season, where activity tends to taper off this time of year. Instead, winter 2016 is looking to be a scorcher when it comes to Minneapolis area housing market demand. In addition, the Minneapolis area labor market is going strong, and growth is on the move in all sectors, which means that prosperity in the workforce will likely translate to continued prosperity in the Twin Cities area housing market. In fact, the unemployment rate in the Minneapolis area is significantly lower than the 4.9% national average, coming in locally at 3.3%.

Though mortgage interest rates have shifted a bit, they are still far lower than the year-by-year average, which means that the time is ripe for homebuyers looking to lock in unprecedentedly attractive 30-year fixed-rate mortgage interest rates right now. This winter is surely shaping up to be a positive one in the Minneapolis area, whether you’re interested in buying or selling your home.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Your Year-End Real Estate Roundup

Brace Helgeson

Photo by www.bigstock.comThis year has been an eventful one in the world of real estate. From news of increased inventory with new home construction on the move, to unprecedented demands for existing homes, 2016 has shaped up to be a largely positive one for the U.S. housing market.

Let's begin with increased demand. As recently as October, the National Association of Realtors at Realtor.org reported that existing-home sales continued their upward trend this autumn, even toppling June's high sales peak. This is particularly remarkable news considering that spring and summer are largely held as the top home-buying and selling months of the year. However, in October, all major regions around the country reported significant increases in annual sales. Total existing-home sales—or, the sales of homes built and on the market—grew 2% in October. At a seasonally adjusted 5.9%, October's existing-home sales outpaced summer rates and were the highest since February 2007.

Chief Economist at the National Association of Realtors, Lawrence Yun, commented on the unexpected gains, saying, "October's strong sales gain was widespread throughout the country and can be attributed to the release of the unrealized pent-up demand that held back many would-be buyers over the summer because of tight supply." What's more, Yun went on to say that wages are pushing upward and construction is also increasing, which means that a market in high demand will soon enjoy the relief of added inventory. Plus, workers are primed to enjoy a bump in pay, making the transition to homeownership a more financially feasible one.

In other news, high-tech trends are emerging in the housing market, as realtors, builders, and owners recognize the need and mounting desire for smart home accessories, according to another report by the National Association of Realtors. Realtors are seeking certifications in smart home technologies—such as Nest—to better serve homebuyers seeking up-to-date accoutrements in their future dream home. According to the report, over half of potential homebuyers are interested in these emerging technologies, some that address household thermostat systems, others that provide cutting edge security features linked to smartphones. As new-build properties hit the market, technology of this nature is sure to be on the minds of builders and planners equipping new construction properties.

Finally, 2016 was marked by exceptionally low mortgage interest rates of historic proportions. With the presidential election in the rearview mirror, some of those numbers are on the move, which means that now more than ever is the time to lock in a low mortgage interest rate. Regardless, 2016 was a strong year for mortgage interest rates, and certainly was an important component in the market's often unprecedented surges.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie's esteemed small business community. Since 1995, we've offered the very best in Twin Cities real estate, earning our community's trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you're considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season's extraordinary market.

New Home Sales Going Strong

Ryan Platzke
Photo by www.bigstock.com

A new story from online publication, Mortgage News Daily, reports that new home sales are on an encouraging an upward trajectory, with this fall showing a marked increase from the month of August. This is especially bright news, since summer is generally considered prime selling season, but Mortgage News Daily’s report indicates that no such slowdown occurred in the transition to autumn. In fact, sale numbers for new-build properties are up by both monthly and yearly measures.

According to the Census Bureau and Department of Housing and Urban Development, new-build residential properties were up 3.1% from August. Moreover, year-to-year September sales leapt by a 29.8% margin — an astounding and nearly unprecedented level of growth. Closer to home, the mid-west enjoyed a particular bump in new construction home sales during the early fall, with an 8.6% seasonal increase and a year-to-year increase of a whopping 33.3%. Furthermore, at the end of the September, an astonishing 243,000 new homes were on the market, with 141,000 more under construction.

What does this mean for those looking to buy or sell a home in the Twin Cities region this fall or winter? Firstly, an increase in new-build homes is a meaningful development for those on the house hunt, since inventory has been competitive here in the Minneapolis area. Likewise, home sellers can list their property with confidence that the next home of their dreams is readily available, brand new, and made financial feasible by this year’s exceptionally low mortgage interest rates. What’s more, a boost in the mid-west’s new-build sales indicates overall growth in the region, making purchasing a home a wiser investment than ever.

It’s no secret that life here in Eden Prairie is an enviable one, especially since Money Magazine’s recent feature of our hometown as one of the country’s most desirable places to live. Development is assuredly on the rise in the Twin Cities region, and what better way to spend the holidays than in a brand new home of your very own?

At Helgeson Platzke Real Estate Group we take pride in helping members of our community find and purchase their dream home. No matter your needs, budget, or tastes, there’s a perfect property for you and your loved ones. There’s no better time than the present to make it happen. Make your holiday wishes come true and take the plunge—become an all-American homeowner in Eden Prairie today.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Fed Rates Remain Unchanged in September, and Twin Cities Region Shows Permit Spike

Ryan Platzke
Photo by www.bigstock.com
A statement released by the Federal Reserve read, "…the case for an increase in the federal funds rate has strengthened but [the committee] decided, for the time being, to wait for further evidence of continued progress towards its objectives.” In other words, the current state of the economy is strong, but the Fed is reserving judgment for just a bit longer as it assesses economic rates of progress.

Hints at a December rate hike seemed readable however, as three of the FOMC members expressed dissent from Chair Janet Yelen’s leading decision to keep mortgage interest rates stagnant. The next Federal Reserve committee meeting will take place December 13 and 14, so it will be over two months before we’ll know whether to expect rate hikes as a result.

As for more localized developments, Finance-Commerce.com reports that permits to construct single-family homes in the Twin Cities region was up by 38% in September. What does this mean for potential homeowners and homebuyers in the Twin Cities and Eden Prairie areas? For starters, this area saw exceptional inventory demand in 2016, and an increase in building permits for much-desirable single-family homes is an encouraging development that could drive housing prices a bit lower, and make a move more feasible for families seeking their dream home.

What’s more: combine that local bit of news with the Fed’s decision to hold off on raising mortgage interest rates for now and you’ve got the perfect recipe for homeownership. Those interested in buying a home in the Eden Prairie or Twin Cities region can do so with financial confidence, knowing that they are mining historically low interest rates. Likewise, a boost in local inventory is sure to diversify your housing options if you’re on the hunt. No matter what your home ownership goals are, now is a special window in which to explore your options and lay down roots of your own this autumn.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Eden Prairie Takes #2 Spot on Money Magazine’s “Best Places to Live in the U.S.” List

Ryan Platzke
Photo Credit: www.bigstock.comEden Prairie nabbed the enviable number two spot! It’s an honor for a national publication to highlight what Twin Cities area residents and our very own hometown folk have known for a long time: Eden Prairie is one of the country’s most desirable homeownership destinations.

 

Money Magazine bases its rankings on a few key factors. First, they gather data on towns that range in population from 50,000 to 300,000. Then, they measure and assess a host of categories, including: job opportunities and employment rates, ease of living, diversity, sustainability efforts, and a variety of other overarching factors, as well. While this isn’t the first time Eden Prairie has graced Money Magazine’s coveted list, it’s now enjoying near-top honors for its quality of life, economic fortitude, and leading displays of eco-friendly choices. In fact, Eden Prairie recently pioneered a new development, Eden Gardens, that puts eco-friendly moves at the forefront with its use of solar panels, reclaimed building materials, energy efficient heating and cooling, low-water or no-water landscaping, and communal gardening plots.

On top of Eden Prairie’s sustainable development choices, economic prosperity is another defining factor in Money Magazine’s pick. In addition to Eden Prairie’s extraordinarily low unemployment rate—just 3.6%--numerous robust businesses make their headquarters here, including Optum, C.H. Robinson, Starkey, and Supervalu. While the local population is just 62,000 there are some 57,000 jobs rooted right here in town. Also bright on the economic front: Moody’s has given Eden Prairie a consistent AAA rating, as a result of its low debt and diversified tax base.

If the rock solid economy and thoughtful sustainability efforts aren’t enough to convince you, Money Magazine also highlighted Eden Prairie’ scenic offerings, which include: 200 miles of sidewalks and trails, 37 parks, 17 lakes, and 95% of hometown respondents who rate their town as good or excellent—what amounts to markedly high honors.

It’s always encouraging to have your town nationally recognized for what you know to be true: that our hometown is a special place to live. So, if you’re looking to buy a home in the Twin Cities region, why not take a look at Eden Prairie? Perfectly situated to take advantage of all that the Minneapolis region has to offer, Eden Prairie can’t be beat when it comes to myriad factors that make a home worth having.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home in 2016, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

4 Twin Cities Real Estate Trends Shaping 2016 So Far

Ryan Platzke
Around the country, the real estate market is enjoying a strong and steady upswing. Here in the Twin Cities region, the housing market is performing exceptionally well, with June posting a ten year high in terms of median home sale prices.

Though we’re just past the halfway mark of 2016, it’s worthwhile to note some of the active trends that have been shaping the Minneapolis – St. Paul real estate market since January, as well as what might influence the coming months en route to 2017.

1. Historically Low Mortgage Rates
Because the Fed decided to hold off on raising interest rates at their most recent meeting, mortgage interest rates have remained at near-historic lows. This has provided ample opportunity to on-the-fence and first time buyers to make the move and take advantage of these limited window, outstanding rates.

2. Millennials on the Move
Thus far, 2016 has seen an increase in millennial and first time homebuyers, which has provided a welcome boon to an already active Twin Cities real estate market. In fact, according to a U.S. News & World Report feature, millennials are inclined to scoop up properties that require some DIY investments, after locking in those low mortgage interest rates.

3. Demand, Demand, Demand
One of the reasons that median home prices are climbing is because demand is high and supply is right on its heels, aiming to catch up. That means that selling your home in the Minneapolis and Eden Prairie areas nearly guarantees a quick turnaround and potentially top dollar—perfectly positioning you for your next home.

4. Increasing Rents
Perhaps this is another reason that millennials are beginning to buy—increases in rent prices are driving Twin Cities residents to purchase homes and put their money towards an affordable mortgage. Increases in rent are part of a larger national trend, and with the Twin Cities region growing exponentially, it’s a wise time to upgrade from renter to homeowner.

Summer 2016 has been a scorcher for the Eden Prairie and Twin Cities housing market. With autumn and winter ahead—and no guarantee that the Fed won’t raise mortgage interest rates soon—now is a distinctly promising time to own a home of your very own in the Twin Cities area.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Twin Cities Area Home Prices Break a 10-Year Record

Ryan Platzke
This summer, the Twin Cities housing market trends have been all about breaking records. Now that the data is in, it’s no surprise that June proved to be another record-breaking month for home prices and market growth in the Minneapolis - St. Paul region.

According to a recent report from the Minneapolis Area Association of Realtors, the median sales prices for homes in the Twin Cities area reached heights not seen since 2006—an impressive feat. Not to mention, that year-to-year growth also posted inspiring numbers: a 5.3% increase in the median home sales price, up from this time last year. In other good news, the amount of closed sales topped out at a twelve-year high, with buyers signing 6,175 new contracts and closed sales reaching 7,094.

So what does this mean for homebuyers and sellers in the Twin Cities and Eden Prairie areas? For starters, these figures indicate a burgeoning market with a strong upward trajectory. Whether you’re aiming to buy your first home, sell your home, or move on to your dream property, there’s encouraging factors for all. Any potential buyers out there can surely relish the extremely low mortgage interest rates currently available. With the Fed holding off on raising mortgage interest rates for now, it’s an excellent window in which to take advantage of these historic mortgage rate lows.

Those interested in selling their Twin Cities area home can rest assured that the market is eager for properties. In fact, homes are selling at a speed not seen since 2007. Combine getting top dollar for your home and the opportunity of a low mortgage rate, and transitioning to your next home will be seamless.

Take it from the President of the Minneapolis Area Association of Realtors, Judy Shields, who describes current Twin Cities housing trends like this: "This market is grounded in good fundamentals: supply and demand, smarter lending standards, job and wage growth, population growth, healthier household finances, and rising rent.”

Whether you are interested in buying or selling a home in Minneapolis, this August provides an unmatched opportunity to take part in the American Dream of homeownership. With housing market figures posting stronger than ever, the signs are clear: this year is the year to land a home that’s all your own.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

 

Will Brexit Results Affect the Twin Cities Real Estate Market?

Brace Helgeson

News of the U.K.’s decision to leave the European Union shocked the world at the end of June, sending the value of the British Pound plummeting to devastating lows. While controversy is still roiling across the pond, how will the U.K’s landmark referendum results affect the United States’ economy and real estate market—if at all?

 

For starters, the National Association of Realtors recently reported that the U.K.’s exit from the EU could result in a significant real estate boost in the U.S. The National Association of Realtors’ Chief Economist, Lawrence Yun, commented on this potential development, saying, "Demand for U.S. real estate could rise,” as a result of U.K. based investors fleeing for higher ground, so to speak. With United Kingdom currency rates diving southward, the United States’ burgeoning real estate market may beckon European developers, translating to possible gains for the American market.

 

Likewise, other real estate pundits have submitted their own two cents, including Greg McBride—Chief Financial Analyst at Bankrate.com—who predicts that Brexit results could cause U.S. mortgage rates to dive even lower: "Mortgage rates will tumble, possibly hitting new record lows. If you’re a borrower,” McBridge encourages, "don’t wait to lock in your rate, as this opportunity may not last long.”

 

While the United Kingdom’s exit from the European Union may bolster a domestic real estate market that’s already on the upswing, how will it affect the Twin Cities real estate market specifically? Of course, there are no guarantees that U.K. economic unrest will directly translate to gains in the local market, however it is worth noting that the Minneapolis—St. Paul region has enjoyed unprecedented demand and growth in the past few years. So, for investors abroad staking their claim in stable U.S. markets, the Twin Cities region may seem like an attractive locale in which to invest, buy, or set up shop.

 

Likewise, those looking to buy or sell in the Minneapolis and Eden Prairie areas this summer could reap the added benefit of near-historic lows in home mortgage financing interest rates. All in all, the Brexit results are certainly uncharted territory for the EU, but here in the U.S. we may see some unexpected economic benefits. Because the Minneapolis area’s real estate market is already on a steady up-and-up, the added positive influx may push stats to record-breaking levels. Just as Bankrate.com’s Chief Financial Analyst advised: don’t wait to lock in your rate!

 

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Study Shows Twin Cities Housing Market Nearly Fully Recovered

Brace Helgeson

A recent study by the University of St. Thomas revealed that the housing market in the Twin Cities is nearing numbers we saw prior to the housing crash seven years ago indicating that the Twin Cities housing market is nearly recovered from the downfall. The study also predicted that we would see median home prices continue to rise in 2016 upwards of 6 to 8 percent.

New Home Sales Rise In November

Brace Helgeson

After a slow October the number of new -home sales increased in November according to the most recent report from the Commerce Department. New-home sales increased by 4.3 percent last month, up from the fall we saw occur in October when new-home sales decreased from 495,000 to 470,000.

Home Prices Continue To Rise In The Twin Cities

Brace Helgeson

The Twin Cities metro area is continuing to see the housing market strengthen. The latest S&P/Case-Schiller home price report revealed that home prices were up in the Twin Cities metro area 3.5 percent year-over-year.

The Twin Cities metro area is continuing to see the housing market strengthen. The latest S&P/Case-Schiller home price report revealed that home prices were up in the Twin Cities metro area by 3.5 percent year-over-year in the month of August.

Home Sales Rebound in September!

Brace Helgeson

The numbers are in, and according to the most recent report by the National Association of Realtors the number of existing home sales jumped last month by 4.7 percent across the nation. This comes after numbers slipped in August, showing that the demand for homes is still strong even after the economic declines seen in the stock market in the past month.

Millennials Face a Few Obstacles Buying Real Estate in the Twin Cities

Brace Helgeson

Millennials, who are now mostly in their 20’s and  early 30’s , are entering the real estate marketing looking to purchase their first home. However, they are being met with a few obstacles. Many are burdened with a large amount of student loan debt, and they more than likely have been renting for some time at a high rate which has made it difficult to save for a down payment.

2015 Home Sales and Listings shows Significant Improvement for Eden Prairie (through July)

Our Team

In the City of Eden Prairie the July 2015 housing trends illustrates some interesting results statistically for home owners and potential buyers. It seems the market is still a seller’s market with a limited amount of inventory from the 10 year norm but the market is equaling out benefiting the potential home buyer. After viewing these statistics it would seem it's the right time to buy a home in Eden Prairie. Read more details now...

Housing Market in the Twin Cities in March the Best in a Decade

Brace Helgeson

The Twin Cities housing market was hot last month. In fact, it was the strongest March we have seen in a decade. Buyers were given more options when it came to available homes on the market, and mortgage interest rates continued to remain low.

Home sales in the Twin Cities off to a strong start

Brace Helgeson
by Jim Buchta


Home buyers in the Twin Cities got a jump on spring last month.

During January, there was an unseasonable increase in signed purchase agreements, suggesting that moderate temps and unexpected declines in mortgage rates roused buyers from their normal midwinter slumber.

Twin Cities Housing Market Starts 2015 Strong

Brace Helgeson
The housing market in the Twin Cities has started 2015 on a strong note with the number of pending home sales increasing last month

In January we saw an unseasonable rise in the number of signed purchase agreements, a decrease in mortgage interest rates may have helped push buyers into the market.

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Underwater Homeowners in the Twin Cities Now 60 Percent Below Peak

Brace Helgeson
Good news for the Twin Cities housing market. The number of homeowners underwater on their home mortgage, meaning they owe more than their home is valued at, dropped below the national average according to the most recent report by Zillow.

Twin Cities Home Sales Decrease While Home Prices Increase

Brace Helgeson


Now that summer has come to an end and the number of foreclosures in the Twin Cities continues to decrease we are seeing a change in housing. A recent report released by the Minneapolis Area Association of Realtors showed that last month there was 7.3 percent fewer closing in the 13-county metro area over last year.