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Twin Cities Real Estate – Market Activity Report for Week of December 3, 2007

December 4, 2007 By Leave a Comment

The Minneapolis Area Association of Realtors published the latest market data today.  Their notes are below:

As expected, we are continuing to see a decline in home sales in the Twin Cities housing market. For the week ending November 24, there were 329 newly signed purchase agreements (pending sales), a decline of 32.2 percent from the same week last year. The severity of this sudden decline is abnormal enough to imply a statistical fluke caused by a small sample size and the vagaries of a major holiday week. How the market performs next week will provide a good indicator of its true direction.

This week’s edition of the MAAR Weekly Market Activity Report features an updated Supply-Demand Ratio (SDR) for 2007. The figure increased to 13.44, which means that there are 13.44 homes on the market for every buyer in the month of December, an increase of 34.1 percent from last December. The SDR rises each year in the final months due to the dramatic decline in holiday season home buyers.

Click here for the full report this week.

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Cost vs. Value 2007

December 4, 2007 By 1 Comment

Everyone wants to know what their return might be with regard to home improvement projects. The National Association of Realtors just published its annual “Cost vs. Value” report developed by Remodeling Magazine. This year’s theme demonstrates that the projects with the greatest impact are those that improve the exterior of the home.

It’s interesting to note that none of the projects create a positive return. James Hardi siding offers the best return but it only returns 80-90% of your costs. They have created a fabulous interactive map that allows you to break down the remodeling projects by region.

If you just want to see Minneapolis, you’ll find the information here.

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Wayzata School District: Property Tax Public Hearing Planned December 4

December 4, 2007 By Leave a Comment

From the Wayzata School District’s web site:

A public hearing has been planned to discuss the current budget of Wayzata Public Schools and the amount of property taxes the district is proposing to collect in 2008 to pay for the costs of the district for the 2008-09 school year. The hearing is planned Tuesday, December 4 at 7 p.m. in the district administration building located at 210 County Road 101 North in Plymouth. All residents of the district are invited to attend the public hearing and express their opinions on the current budget and on the proposed 2008 property tax amount.

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