Wednesday, November 26, 2008
Sunday, November 23, 2008
Tuesday, November 11, 2008
- Average Days on the Market (DOM) : it is taking on average 108 days for a Minneapolis condo unit to sell, up an amazing 28% from this same time last year!
- Inventory : the good news is that the number of condos for sale in downtown has decreased by 28%. This means there is less competition compared to 2007, and because of this inventory decrease, the Average Price for condos has increased by 5.6%. The only downside is that the number of closings so far in 2008 is pretty much the same as that in 2007.
- Foreclosure Rate: So far this year, of the 571 closed sales, between 7-8.5% of them have been foreclosures or short sale properties. I don't know about you, but that is a pretty low portion of condo sales. When compared to the average Twin Cities real estate market, which is at 35% rate of foreclosure, it is really quite good.
Monday, November 10, 2008
My friends in Florida would have you believe that living in the north during winter is like living in hell. Funny how I feel the same way about Miami in the middle of summer. At least in winter, you can put multiple layers of clothing on to keep you warm; however, in the hottest summer (with lots of humidity) you can strip down to nothing and still be roasting hot.
So for those of you new to Minnesota this year, or for those of you thinking of moving to our beautiful state, this week is Winter Hazard tips week. For the cliff notes version of winter survival, check out these quick tips.
Today it is Winter Weather Overview, where you can learn the basic winter terms like Lake Effect Snow and such. With 10,000+ lakes, it is very common to have white outs on one side of a lake. To make the rest of the safety information easy for you to find, follow the links below for each days winter weather tips:
- Tuesday - Outdoor Winter Safety
- Wednesday-Winter Fire Safety
- Thursday- Indoor Air Issues, Insurance
- Friday - Winter Car Safety
Remember, winter in Minnesota is beautiful. One thing unique about the north is that people don't let the cold weather keep them indoors. Everyday you can find people around Minneapolis and Saint Paul enjoying a walk down the street, or taking a jog around the lake. To my friends in Florida, while I do miss the Gulf of Mexico, there is something to enjoy about Minnesota when you can actually have four seasons.