Share this property

share this link:

×

Peaks & Valleys

June 14, 2017 by megdrgmpls-com-2

There's a lot happening in real estate lately and there's something for everyone to pay attention to. The whole Downtown Resource Group keeps an eye on and answers questions daily about the market from homeowners and people curious about condos and lofts. Home prices are hitting new heights across the country and the market here at home is no exception:
 

• U.S. home prices have increased for 59 consecutive months
• Prices rose 1.3% between February and March
• Home prices have risen 5.8% year-over-year so far in 2017
March Home Price Index, Black Knight Financial Services
 

These numbers can be seen as a good news/bad news situation: They show that homeowners are building equity and getting great return on investment, but they can be intimidating to potential home buyers. It's understandable that some people might wonder if they'll be renting forever in light of the fact that eight of the 20 largest states have reached new home price heights this year. Couple that with the fact that there's a shortage of homes for sale in certain price ranges, and it's easy to see why renters might see this as bad news for them. The numbers here in the Twin Cities absolutely support the rising price, falling availability fear:
 

• Average sales price of homes is up 7%
• Number of homes on the market is down 19.8%
Minneapolis Area Association of Realtors (MAAR), April 2017
 

But the bright spot for home buyers looking for lofts, condos and single family homes comes courtesy of interest rates: Mortgage rates hit their lowest point of 2017 in the week ending May 25 according to government-sponsored entity Freddie Mac. Rising prices can have some effect on buying power, but not nearly as much as rising interest rates.
 

The real estate market is moving fast and new stats are constantly released. It's important not to make assumptions or base major decisions on information you read, see or hear in the news. The recent price and interest rate numbers have something for everyone:
 

Home prices….
Homeowners: It's time for a current market analysis and equity position review. What are your plans for the next 1, 3 and 5 years? The new numbers might be game-changing for you.
Renters: Prices are climbing, but don't be intimidated. Interest rate movement has more impact. If you haven't started looking or you've been looking for a while, it's a good idea to get pre-approved or review your approval numbers in light of recent developments.
 

Mortgage interest rates….
Homeowners: Have you done a refinance? Is there a vacation, second or investment home on your mind? We can show you different scenarios that take advantage of the great rates.
Renters: While low inventory and rising prices may seem to be working against you, interest rates are on your side. A single percent increase can mean having to settle for less or not being able to qualify, so it's important to act quickly to give yourself every advantage in a competitive market.
 

The good news for everyone is, our teams at Downtown Resource Group and our lending partner LeaderOne Financial are here to help. We can provide current market information, analysis and discuss options for Minneapolis homeowners and buyers. Now may or may not be a good time for you to make a move, but it doesn't take long to see what's possible.


Leave a Reply

Leave us a message

×

Sign in

Save favorite listings and access your account information.

Don't have an account? Register Now
×

Sign up for free

  • Receive unlimited access to listings, save your searches and get a free neighborhood consultation!

Already have an account? Log in
×

Share this property

share this link:


×

Terms of Service

The following terms and conditions govern all access to and use of this site.  You accept, without limitation or alteration, all the terms and conditions contained herein. 

THIS AGREEMENT IS A BINDING CONTRACT AND INCLUDES TERMS THAT LIMIT YOUR LEGAL RIGHTS AND LICENSORS’ LIABILITY TO YOU.  CONSULT YOUR ATTORNEY BEFORE AGREEING IF YOU DO NOT UNDERSTAND ANY OF THE TERMS HERE.

End-User License Agreement
This End-User License Agreement (“EULA”) is a legally binding contract between you; and the owner of this site, Downtown Resource Group (“Broker”); and Regional Multiple Listing Service of Minnesota, Inc., d/b/a NorthstarMLS and NorthstarMLS.com (“RMLS”); and the developer of this site. (Collectively, Broker, and RMLS, are the “Licensors.“)

You seek access to real estate listings that are made up of factual information and creative content. This “Licensed Content” appears on this “Licensed Site.“  Licensors wish to grant you access to the Licensed Site, but use of this information is limited by the terms of this license.

In consideration of the mutual covenants contained herein, you and Licensors hereby agree as follows:

1. Access permitted.
Licensors agree to provide you online access via the World-Wide-Web to the Licensed Content and the Licensed Site for the duration of the current viewing session.  You acknowledge that you will be required to execute a new EULA upon your next visit to the Licensed Site.  You agree not to attempt to access the Licensed Site after the termination of this EULA.

2. Acknowledgement of Title.
You acknowledge that all right, title, and interest in the copyrights and other intellectual property rights in the Licensed Site and the Licensed Content reside at all times in Licensors and their licensors.

The trademarks, logos, and service marks (collectively the “Marks” or “Mark”) appearing on the Licensed Site are registered and unregistered marks of Licensors and others.  Neither this EULA nor the Licensed Site grants you any right to use any Mark displayed on the Licensed Site or any other Marks of Licensors.

3. License.
Licensors hereby grant you a revocable, limited, nonexclusive license during the term of this EULA to duplicate, distribute and display the Licensed Content and the Licensed Site, solely for your personal, non-commercial use, and subject to the limitations set forth in this EULA.  Licensors grant nonexclusive licenses and not exclusive licenses or assignments.  All rights not expressly granted in this EULA are reserved.

4. Limited Use.
You will not:
(a)    Use the Licensed Site, Licensed Content, or both for any purpose other than a personal, non-commercial one;
(b)    Disclose any of the Licensed Content, including factual content, to any third party except in furtherance of your personal real estate transaction, and then only to the extent necessary;
(c)    Gather, or attempt to gather, by any automated means, including “screen scraping” or “database scraping,“ factual content or any other portion of the Licensed Content from the Licensed Site; or
(d)    Employ the Licensed Content, the Licensed Site, or both for any unlawful purpose.

5. License revoked.
Your license to use the Licensed Content and the Licensed Site is immediately revoked, without notice from Licensors, in the event that you breach any provision of this EULA.

6. General terms.
(a) Term and termination.
Any party may terminate this EULA upon notice to another.  In the event of termination, all licenses hereunder immediately terminate, and you agree to discontinue accessing and attempting to access the Licensed Site.  The terms of sections 2, 4, and 6 of this EULA shall survive its termination.
(b) Disclaimer of warranties.
LICENSORS PROVIDE THE LICENSED SITE AND LICENSED CONTENT ON AN “AS IS,“ “AS AVAILABLE” BASIS.  LICENSORS MAKE NO WARRANTY AS TO THE ACCURACY, COMPLETENESS, CURRENCY, OR RELIABILITY OF THE LICENSED CONTENT.  YOU ARE ADVISED THAT FACTUAL MATERIAL IN THE LICENSED CONTENT, THOUGH DEEMED RELIABLE, MAY CONTAIN ERRORS AND IS SUBJECT TO REVISION AT ALL TIMES.  YOU ARE ADVISED TO CONFIRM ALL FACTUAL MATERIAL UPON WHICH YOU INTEND TO RELY IN ANY TRANSACTION.  THE LICENSORS EXPRESSLY DISCLAIM ALL WARRANTIES WITH RESPECT TO THE LICENSED SITE AND THE LICENSED CONTENT, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.  Possible errors in the Licensed Content include, but are not limited to, incorrect measurements, improper classification of rooms and features according to local zoning codes, incorrect status with regard to availability for sale, incorrect photograph, and incorrect information about improvements.
(c) Limitations and exclusions of liability.
UNDER NO CIRCUMSTANCES SHALL THE LICENSORS BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES THAT RESULT FROM THE USE OF, OR INABILITY TO USE, THE LICENSED SITE, THE LICENSED CONTENT, OR BOTH.  YOUR SOLE REMEDY, IN THE EVENT THE LICENSORS OR ANY ONE OF THEM BREACH THIS EULA, SHALL BE TO TERMINATE THIS EULA.  IN THE EVENT THE LIMITATIONS SET FORTH IN THE PRECEDING TWO SENTENCES ARE HELD BY ANY COURT TO BE UNENFORCEABLE, LICENSORS SHALL NOT IN ANY EVENT BE LIABLE TO YOU OR ANYONE ELSE FOR DAMAGES OF ANY KIND IN EXCESS OF $500.
(d) Indemnification.
You will defend, indemnify and hold the Licensors harmless from and against any and all liability, damages, loss or expense (including reasonable fees of attorneys and other professionals) in any claim, demand, action or proceeding initiated by any third-party against the Licensors arising from any of your acts, including without limitation violating this or any other agreement or any law.
(e) Assignment.
You may not assign or delegate this EULA or any obligations, rights, or duties hereunder.  Any attempted or purported assignment or delegation in contravention of this section is null and void.
(f) Integration and severability.
This EULA contains the entire understanding of the parties and supersedes all previous oral and written agreements on the subject matter hereof.  Each provision of this EULA is severable from the whole, and if one provision is declared invalid, the other provisions shall remain in full force and effect.
(g) Governing law.
This EULA shall be governed by, and construed in accordance with, the laws of the State of Minnesota applicable to contacts made and performed in Minnesota, but without regard to the choice of law and conflicts of law provisions thereof.  The parties hereby agree that any dispute under this EULA shall have its forum in the state or federal courts located in Ramsey County, Minnesota, in the United States of America, and the parties hereby consent to personal jurisdiction therein and expressly waive any defenses to personal jurisdiction, including forum non conveniens.

×

Sign up for free

  • Receive unlimited access to listings, save your searches and get a free neighborhood consultation!

×