Sellers are inching back into the housing market

  • Article by: JIM BUCHTA , Star Tribune
  • Updated: December 3, 2012 - 9:32 AM

Encouraged by improving sales, Twin Cities homeowners who have stayed on the sidelines are shedding their hesitancy. It could be a pivotal step in the recovery.

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cavellDec. 3, 12 7:14 AM

only 15% of sellers think its a good time to sell? and they expect success? terrible odds there. they must be very desperate to sell if they list house knowing it won't sell?

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woodstoveDec. 3, 12 7:56 AM

I'm a realtor and we see values continue to drop. 2013 could be the worst year yet. I like the positive spin but sorry folks reality prevails...

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omgurdensDec. 3, 12 8:07 AM

Values continue to drop? I'm not sure what you're looking at. The median sale price in Hennepin county is up 25% from Oct. '11 to Oct. '12. Prices have been going up in all sectors of the market, even new construction, all year. You're obviously not a realtor doing any business if you haven't seen this.

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xyz123qDec. 3, 12 8:57 AM

foreclosures are still at record highs

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aardvark878Dec. 3, 12 9:08 AM

Things are definitely looking up in my area. The house next to me was a foreclosure that a builder purchased. It was completely renovated, and sold within a matter of weeks. So I'm sure he got what he was asking, which was a nice, solid price. Not the inflated price it went for during the bubble years...but a solid price that made me feel good about all the work I'm putting into my own renovations.

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chuckdancerDec. 3, 12 9:34 AM

Where are the mortgages going from these sales? Is the private sector running this or is the federal government floating the boat?

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woodstoveDec. 3, 12 9:55 AM

Dear omgurdens, I sell high end waterfront and recreational properties. I do this everyday. some residential numbers make it look good but there are several things that come into play and unfortunately it's not rising prices. Trust me, I wish it was. I like the optimism but watch what comes this year. Keep well, BB

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FrankLDec. 3, 1210:05 AM

woodstove, I agree with your assessment for the simple reason prices for many homes are still below the cost to build them. Just watched my neighbors house get listed for the price it went for in 1995.

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omgurdensDec. 3, 1210:30 AM

Some residential numbers? How about every single number? If you're judging the health of the market based on a few 'high end waterfront and recreational' properties not selling for their still super inflated prices, you're stuck in your own bubble, man.

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