The Snyder Team's Blog
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June Market Statistics Show Buyers on the Move
Posted Under: Market Conditions in Woodbury, Home Buying in Woodbury, Home Selling in Woodbury | July 20, 2011 1:53 PM | 288 views | No comments
June was a busy month for SPAAR President
and Snyder Team leader Jennifer Snyder. “In addition to it being ‘that time of
year’ when families want to get moved and settled before the new school year,
buyers feel that we have finally hit the bottom in terms of affordability,” she
said.Snyder’s sentiments are reflected in statistics released last week for the 13-county Twin Cities metropolitan area. While new listings are down, pending sales are up—nearly one-and-a-half times what they were over last June’s post-tax credit slump.
“Properties that are priced appropriately for the market are moving,” said Snyder. “Listings at all different price points are selling—and in a couple of cases it’s even getting tricky to find the right inventory for a specific buyer—a good problem I haven’t experienced in a while,” she said.
When combined with record affordability, the 5.5% decline in new listings and a 15.9% decrease in inventory add an element of urgency buyers haven’t experienced in some time.
The flow of financially distressed properties onto the market appears to be slowing, and those on the market are selling. Foreclosures and short sales accounted for 38.2% of all sales, the lowest level since June 2010.
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Reinventing the Real Estate Transaction One Search at a Time
Posted Under: General Area in Woodbury, Home Buying in Woodbury, Home Selling in Woodbury | July 7, 2011 2:17 PM | 294 views | No comments -
The Spring 2011 Parade of Homes Starts Saturday!
Posted Under: Home Buying in Woodbury, Design & Decor in Woodbury, In My Neighborhood in Woodbury | March 3, 2011 12:33 PM | 502 views | No comments
The annual Spring Parade of Homes starts this weekend. Builders throughout the Twin Cities and Western Wisconsin showcase their latest designs. This season there are over 340 homes to tour and be inspired by. The Parade starts this Saturday, March 5th and goes through Sunday, April 3rd. The model homes are open every Thursday through Sunday from 12-6pm. Pick up a guidebook with all the locations at your nearest Holiday Station Store.
Will you be checking out the Spring 2011 Parade of Homes?
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January Home Sales Highest Since ’07, Prices Decrease from Last Year
Posted Under: Market Conditions in Woodbury, Home Buying in Woodbury, Home Selling in Woodbury | February 16, 2011 10:44 AM | 236 views | No comments
Home Sales were up in January 10.4 percent from a year ago and were the highest January total in the Twin Cities since 2007. “We’ve had back-to-back months where sales have outpaced our expectations,” said Jennifer Snyder, our team member and president of the St. Paul Area Association of REALTORS®.In January in the Twin Cities, there were 2,209 sales compared to 2,001 sales a year ago, an increase of 10.39 percent. January and February are traditionally the slowest months of the year for home sales in the Twin Cities. “We have seen an uptick in sales activity and activity in the market in the last two months,” Snyder said.
Median prices were down 10.8 percent from last year to $140,000, from $157,000 last January. “We saw sales down last year, but prices increased slightly. We may be seeing a shift of increased sales activity tied to prices adjusting,” Snyder said. “Especially in the winter months, there are buyers looking for bargains, and the price decrease likely reflects an increase in sales of foreclosed properties and other distressed properties.”
The median is the mid-point. Half the homes sold for more, half for less. Numbers reflect the 13-county metro area and include single-family, condominiums and townhouses.
~SPAAR Press Release February 11, 2011~
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FHA Extends 90-Day Seasoning Waiver
Posted Under: Home Buying in Woodbury, Home Selling in Woodbury, Financing in Woodbury | February 2, 2011 9:34 AM | 233 views | 1 comment
In an effort to boost the real estate market, FHA has extended its 90-day seasoning waiver. What does that mean? If an investor purchases a home with plans to fix it up and then sell it, he or she does not have to wait 90 days before listing the home for sale. The purpose is to encourage more investors to get in the market and to provide more options for buyers.There are requirements that must be met for the waiver to be allowed. For example, all transactions must be arms-length. There can be no identity of interest between the buyer, sellers, or other parties involved in the transaction. There are also rules relating to sales price, marketing, and title. The waiver applies to sales contracts executed between February 1, 2011 and December 31, 2011. The waiver can be extended or withdrawn at any time.
It is important to note that the extension of the waiver does not guarantee transactions will go smoothly. Individual underwriters may not approve loans for homes being sold in such a quick timeframe. We would recommend that sellers wait 90 days after a purchase before marketing it for sale to ensure a better transaction for all.
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Monthly Skinny January 2011
Posted Under: Market Conditions in Woodbury, Home Buying in Woodbury, Home Selling in Woodbury | January 27, 2011 11:04 AM | 197 views | No commentsThe Minneapolis Association of REALTORS released The Monthly Skinny for January 2011. Watch and learn about the latest real estate market news of the Twin Cities. There’s always something interesting to learn about!
Click here to see it! -
NAR Survey Says Homeownership is Still Popular
Posted Under: Home Buying in Woodbury, Rent vs Buy in Woodbury | January 26, 2011 10:34 AM | 213 views | No commentsAccording to a National Association of REALTORS® survey released in January 2011, home owners and renters agree that home ownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy.
The American Attitudes About Homeownership survey found:
- 95% of homeowners and 72% of renters believe that over a period of years it makes sense to own a home.
- Despite the downturn in the economy, 93% of homeowners would buy a home again.
- More than half of owners (56%) are “very” or “extremely” satisfied with the overall quality of their family life, only 36% of renters report the same levels of satisfaction.
- 63% of renters say they will purchase a home sometime in the future.
- 18-24 year olds have the strongest desire for home ownership.
Even during this rough economic cycle, homeownership is still desired by most people. The benefits of owning a home just outweigh any negatives. This survey shows there will also be people looking to own a home.
~Information from the National Association of REALTORS®~
