Back to school sales aren’t just for students
St. Paul Real Estate Blog
by Teresa Boardman
15h ago
Coneflowers Yes, it is already that time of year for back-to-school sales. This is a great time of year to buy office supplies and equipment for the home office. Some small appliances like coffee makers and microwave ovens will also be on sale. Yesterday I bought a new rug for my office and last week I bought a new printer and some paper. It is time to take advantage of back-to-school savings.     The post Back to school sales aren’t just for students appeared first on St. Paul Real Estate Blog ..read more
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A special anniversary
St. Paul Real Estate Blog
by Teresa Boardman
2d ago
Houses It was ten years ago this month that we made our last mortgage payment.  It was a joyous occasion. By the numbers: 30.9% of Twin Cities metro-area homes were owned outright in 2022, up from 27.7% in 2017, according to the latest census data. The number of people who own homes free and clear is on the rise probably because older people are more likely to have the mortgage paid off. I have read a lot of advice that says having a mortgage is a good thing. Yes, mortgage interest may be tax deductible but only for those who itemize. Those deductions work the best for the wealthy. I ..read more
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Big changes are coming for home buyers
St. Paul Real Estate Blog
by Teresa Boardman
3d ago
Starting this August, commissions for buyer’s agents will no longer be posted in the MLS. Up to now most of the time when I have worked with buyers I have been paid by the seller. The payment was listed in the MLS (Multiple Listing Service) and guaranteed. In fact, for many years we could not list a home in the MLS without including some payment for buyer’s agents. The MLS is a property database that belongs to Realtors and is the source of homes for sale. The data is fed to real estate company websites and large national real estate websites. Home sellers may continue to pay out commissions t ..read more
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June 2024 Home sales – Minnesota
St. Paul Real Estate Blog
by Teresa Boardman
1w ago
Numbers fresh from Minnesota Realtors Association for June 2024: June Year-Over-Year Summary of Key Market Indicators:  Closed sales: 6,713 (down 17.6%) Median sales price: $355,000 (up 1.4%) Average sales price: $420,886 (up 3.8%) New listings: 9,230 (down 9.2%) Pending sales: 6,541 (down 13.2%) Days on the market: 33 (up 10%) Homes for sale: 14,648 (up 11%) “Both buyer and seller activity were down compared to last June, while median home prices and market times rose. The housing market is being held back by inflation and mortgage rates.” From Minnesota Realtors The post Jun ..read more
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June 2024 home sales in St. Paul.
St. Paul Real Estate Blog
by Teresa Boardman
1w ago
Here are the home sale numbers for June 2024. One thing that stands out is that in most neighborhoods and in the city, home sale prices were higher than asking prices. That is a sign that home prices are rising. Home prices are generally the highest in April, May and June. As interest rates go down if they do indeed go down look for home prices to go up. The median home sale price in St. Paul was $311,000 in June. Also, downtown St. Paul kind of stands out. Now might be a great time to buy a condo in downtown St. Paul. More homes are on the market downtown than in any other neighborhood and pr ..read more
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Mortgage rates July 2024
St. Paul Real Estate Blog
by Teresa Boardman
1w ago
Mortgage interest rates went down a little last week. Apparently, there is less inflation, and employment numbers were revised. I find the whole job thing confusing as I know several people who are struggling to find the right job. Here is a look at mortgage interest rates from Freddie Mac. They are below 7% but not by much. Lower rates cause mortgage applications to rise.  The number of homes on the market in the Twin Cities is up slightly from last month. Home buyer demand remains very strong. Mortgage rates   The post Mortgage rates July 2024 appeared first on St. Paul Real Estate ..read more
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Summer is short
St. Paul Real Estate Blog
by Teresa Boardman
1w ago
It is Friday and Fridays are for fun. My cone flowers and lilies tell me that we have reached the halfway mark for the summer of 2024. We have about eight weeks of summer left here in the bold north. Early forecasts predict a colder and snowier winter for the winter of 2024-25. Now is the perfect time to have your old furnace replaced and to consider more insulation and maybe even a new window or two. Get the snow blower tuned-up and send the winter coats to the dry cleaners. Cone Flowers The post Summer is short appeared first on St. Paul Real Estate Blog ..read more
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The typical Realtor in 2023
St. Paul Real Estate Blog
by Teresa Boardman
2w ago
On Monday I wrote about the typical home buyer and on Tuesday I wrote about the typical home seller. Today I am writing about the typical Realtor using statistics from the National Association of Realtors. In advertising and in the media Realtors are often portrayed as men in suites or as young women. Neither is accurate. Here are some demographics: Sixty-four percent of REALTORS® were licensed sales agents, 20 percent held broker licenses, and 18 percent held broker associate licenses. The typical REALTOR® is a 60-year-old white female who attended college and is a homeowner. 62% of all REAL ..read more
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Who has been buying houses in 2022 – 2023
St. Paul Real Estate Blog
by Teresa Boardman
2w ago
This just in from the National Association of Realtors. During my career, the oldest home buyer I ever worked with was 81 and the youngest was 19. I have had clients in all age groups and from all over the country. Here is a breakdown by age group of home buyers in the U.S. over the last two years: From the National Association of Realtors   The post Who has been buying houses in 2022 – 2023 appeared first on St. Paul Real Estate Blog ..read more
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We survived another hellish 4th of July
St. Paul Real Estate Blog
by Teresa Boardman
2w ago
The 4th of July is my least favorite holiday. It is a hellish day and I am always happy when we get past it. This year neighbors were blowing up some large loud fireworks in the street. They were loud enough to shake the house. Several of us asked them to stop. They said “f-u”. A few of us called 911. It was noisy and the fireworks were close to houses and some of the people detonating them were children who looked to be under 10 years old. Eventually, a squad car came by and the officer asked the neighbors to stop lighting fireworks. No one said “f-u” They were polite and told the officer the ..read more
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