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Wednesday, May 09, 2007Current Minnesota Real Estate Market
I wanted to talk about the various type of properties for sale and the overall state of the Twin Cities real estate market at this time. Currently, we are experiencing a heavy, heavy buyers market. Inventory levels in the metro area alone have topped 41,000 listings. A balanced market is near the 20,000 mark. With so many condos, townhomes, lofts, duplexes, and fourplexes for sale in Minnesota, sellers are forced to price their properties aggressively. They are also forced to get their property in "tip top" showing condidtion
On our weekly radio show on Saturdays, The Minnesota Real Estate Show, www.MnRealEstateShow.com, we generally start each show talking about the current market conditions. We are hoping the inventory levels begin to drop in the upcoming months, but with the recent increase in foreclosures, we are seeing more and more homes go up for sale.
With this increased inventory level, investors in Minnesota real estate are having a great time finding "deals." Many sellers are forced to sell at a discount, and bank owned properties are for sale on just about every street corner.
If you have the chance, stop on out to our free real estate investing seminars. For more info, go to www.InvestmentPropertyGuys.com
At these seminars, we talk about the various properties a person could find through a realtor on the MLS (mls listings minnesota, mls listings mn, mn mls, mls minnesota, minnesota mls, minnesota condos, minnesota townhomes, mn condos, minneapolis condos, mn townhomes, minneapolis townhomes). We also talk about how our team helps you get these properties rented out through our own real world investing experience.
With fewer and fewer buyers able to purchase a home now (with the recent fallout in the subprime lending world), more and more people are forced to rent. Rental demand has seen an increase across the board here in the Minnesota real estate market. Rents will continue to rise over this coming year in 2007.
Look for another update soon!
Posted By: Ryan O'Neill @ 2:20:41 PM