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?
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~

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.
The 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!
According 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:
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.