Wednesday, July 30th, 2014
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Tuesday, July 29th, 2014
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Finding the truth behind housing statistics is like debating the best beer for summertime. On the beer side, you might pick an American wheat, Belgian white, shandy, Kolsch, cider or maybe a Coors Light if you’re into the pickup truck and dirt road scene. On the housing side, you might say we’re too heavy toward a seller’s market as prices rise, that another buyer’s market is over the horizon if inventory pushes up or that things are just right for the first time in years. No matter where your submarket sits on the scale, it’s safe to say that MLS data is the best base for a meaningful opinion and that a doppelbock is not a good base for an outdoor barbecue in the middle of July.

In the Twin Cities region, for the week ending July 19:

• New Listings increased 10.4% to 1,913
• Pending Sales decreased 1.0% to 1,145
• Inventory increased 8.9% to 18,011

For the month of June:

• Median Sales Price increased 4.7% to $219,900
• Days on Market decreased 6.8% to 69
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 10.5% to 4.2


Saturday, July 26th, 2014
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According to the latest CoreLogic National Foreclosure Report“approximately 660,000 homes in the US were in some state of foreclosure as of May 2014”. This figure is down 37% from the 1 million homes in May of 2013. May marked the 31st consecutive month in which there were year-over-year declines.

Mark Fleming chief economist for CoreLogic revealed:

“Significant gains have been made in the last year to reduce the foreclosure stock. Yet, these improvements are occurring disproportionately in non-judicial states. The foreclosure inventory in judicial states is averaging 2.1% which is more than twice the 0.9% average that is occurring in non-judicial states.”

The foreclosure process in the twenty-two judicial states can take, on average, anywhere from 180-400 days according to the Mortgage Bankers Association. The lack of initial court intervention in non-judicial states, often means that the process of foreclosure takes significantly less time.

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Wednesday, July 16th, 2014
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DANIEL LEFFERTS

Every summer and fall, states bring out their best in fried food, portable attractions, and crowd-pleasing farm animals for annual state fairs. And while some fairs have gained fame for their size, others have gained followings with more under-the-radar attractions like giant vegetable contests, live cow birthings, and massive sculptures of chocolate and sand. If you’re making a summertime tour of the U.S., or you happen to near live the location of a state fair, and, for some reason (are you crazy?!) need more motivation to attend, look no further than this list. 

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Monday, July 14th, 2014
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Pending sales are back and ready to rumble along with their trusty comrade, inventory. After a slower start to the year, the numbers are rallying for a comeback. However, one number not rising is the number of people filing for unemployment. According to the U.S. Department of Labor, jobless applications continued their downward trend. This could help families pad downpayment funds. With more inventory to choose from, there aren’t any cheap shots in this boxing match.

In the Twin Cities region, for the week ending July 5:

• New Listings increased 14.8% to 1,269 
• Pending Sales increased 17.4% to 1,045 
• Inventory increased 7.7% to 17,587

For the month of June:

• Median Sales Price increased 4.7% to $219,900 
• Days on Market decreased 6.8% to 69 
• Percent of Original List Price Received decreased 0.3% to 97.2% 
• Months Supply of Inventory increased 10.5% to 4.2