Prospective homebuyers waiting for mortgage rates to fall may be waiting for conditions that only a major global crisis would create. Current 30-year fixed mortgage rates of about 7.25% are not an anomaly, according to Jason Huerkamp of Huerkamp Home Group in the Twin Cities. That figure matches the historic 50-year average. The low rates ...
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The most competitive segment of the Twin Cities housing market isn’t where most people assume. In the south metro – an area spanning Burnsville, Lakeville, Prior Lake, and surrounding communities – the lower end moves quickly and the upper end has been surprisingly active. The middle of the market is stuck, squeezed by a dynamic ...
For much of the past several years, sellers in St. Paul, Minnesota, had the upper hand. Low inventory, intense buyer competition, and rapid price appreciation made it easy to list a home and attract multiple offers. That dynamic is changing. Listings in St. Paul are up roughly 12 percent over last year, according to Shawn ...
Active single-family listings in Rochester, Minnesota, have climbed from roughly 330 to 522 in eighteen months, according to Alex Mayer of Rochester Area Homes by Alex. Statewide, Minnesota inventory has risen 31 percent. The standard explanation points to rate lock finally loosening. Mayer sees something more fundamental encouraging sellers to list: the homes they bought ...
Every time a home goes on the market in the United States, the listing data – price, photos, square footage, descriptions – enters a multiple listing service. From there, that data gets copied. According to Tim Dain, President & CEO of NorthstarMLS, the regional MLS serving Minnesota, some MLS databases get replicated hundreds or even ...
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Many real estate professionals in Southlake, TX, and across Dallas-Fort Worth are bracing for a slower stretch. Justin Nimergood, who leads the Top Gun Team at Epique Realty, believes the next 12 to 24 months will be difficult, and he is planning for it now instead of waiting to see how hard it hits. “It’s ...
Most aviation planning starts from a simple assumption: aircraft need airports, and airports need hundreds of acres. A demonstration flight in downtown Manhattan this month challenged that assumption directly. Lisa Wright, founder and CEO of Landings, was at the downtown helipad when Electra’s hybrid-electric aircraft flew in from Linden Airport in New Jersey, landed, took ...
Construction costs are rising. Capital is more expensive. Some markets are oversupplied. Together, those pressures have made buying existing self-storage facilities more attractive than building new ones, according to George Hristodoulou, a principal at RSG Development, a New Jersey-based developer. “We think it’s in many ways a better time to acquire than develop because of ...
The affordability conversation in most metro areas centers on interest rates. In Fairfax County, Virginia – the suburban ring just outside Washington, D.C. – a 25-year view points to home prices, not interest rates, as the main driver of the affordability squeeze, according to Andy Novins, who has worked the Falls Church area for 23 ...
Buyers searching for a home in Central Austin, TX often narrow their list to a handful of close-in neighborhoods and then have trouble choosing between them. Zilker, Bouldin, Crestview, Hyde Park, and North Loop all have loyal followings, and each one offers a different kind of daily life. Kathy Sokolic, co-founder of Mueller Residential Group, ...
For retirees comparing 55+ communities in Ocala, Florida, Stone Creek and On Top of the World often end up on the same shortlist. The two sit right next to each other, and a new road now connects them. Both offer strong amenities and a range of home options, so the decision usually comes down to ...
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