Comments on: Inventory Down, Competition Way Up

By: minnesota first time home buyer class

minnesota first time home buyer class — Tue, 28 Jul 2009 05:06:31 +0000

Things are heating up for sure! Get ready for the next wave of foreclosures coming! What a great time for first time buyers to be looking!

By: MN MLS

MN MLS — Wed, 01 Jul 2009 01:30:01 +0000

You all better get use to this because this is the market until at least 2012. Unemployment will be at double digit, more foreclosures are coming and banks will continue to price properties aggressively all the while more investors will continue to enter the market.

By: Minnesota First Time Home Buyers

Minnesota First Time Home Buyers — Tue, 30 Jun 2009 03:18:53 +0000

Mark my words Scott:

Things will get better for us buyer agents. More and more BPOs are being ordered everyday, and by the end of summer I anticipate the market to be a little more listing-heavy than it’s been in the past 3 months.

By: crystal Minnesota real estate

crystal Minnesota real estate — Thu, 25 Jun 2009 22:11:20 +0000

The DOC just posted a statement on the MLS addressing this issue ..It’s mandatory for an agent to list the property as pending once they have a signed purchase agreement. Not only does it waste time if it’s not disclosed to agents but it makes us look bad.I had a client today who wanted to write an offer on a home that was only on the market 3 days. we actually sat done at the kitchen table and started drafting the document. a home inspector walked in a surprised us. Apparently the home was sold pending inspection .. To get ahead of the pack have your agent set up an auto search and send you new listings as soon as they hit the market..

By: Minnesota Fixer Upper

Minnesota Fixer Upper — Thu, 25 Jun 2009 17:51:17 +0000

I previewed two new on the market REOs yesterday. Day 1 for a house in Richfield, day 3 for one back on the market in Burnsville. The counter tops were already full of cards, and there were two other agents at both properties. It’s nuts!
And pardon me for asking, What’s stable?

By: Tenant Screening

Tenant Screening — Thu, 25 Jun 2009 13:26:04 +0000

It keeps varying here. One month it seems there’s a ton of offers, next month it seems there are none. My hunch actually is the listing agents are creating artificial demand by stating there’s more offers on the table than there are. Seems really common, and questionably ethical.

In the end though, the artificial offers aren’t buyers, they are phantom ghosts, and I think in the long run it’s hurting our local market.

I agree, can’t wait until they stabilize.

By: Minnesota Refinance Loan Guy

Minnesota Refinance Loan Guy — Thu, 25 Jun 2009 04:10:41 +0000

I would add to the post that a LOT of the offers are from newbie investors or first time buyers who think they can get the farm for nothing and are submitting low offers and so if there are 5 offers, 3 are low ball and 2 are close assuming the property is properly priced. As a mortgage broker it can get frustrating working with someone writing so many offers when a reputable real estate agent can get them into a good home for a good price.

By: minneapolis lofts

minneapolis lofts — Wed, 24 Jun 2009 20:42:05 +0000

This current buying climate is extremely frustrating for buyers and agents alike. It takes a very persistent realtor and buyer to get deals done.