Mortgage & Finance

What about interest rates?

When I look at interest rates I like to look at the big picture. I do remember when interest rates were in the double digits and the last time my family had a mortgage the rate was 7%. Our highest interest rate for a mortgage was 8.38. Rates have gone up almost half a percent from a low of 3.59% last February.

Mortgage rates

Mortgage rates – Freddie Mac


For Home buyers

The national housing picture

Nationally Existing home sales were up in May. They were up here in St. Paul too if compared with April sales.

US home sales

US home sales



In other news . . .

May Home sales

May home sales

Local Market Conditions & home prices

More Realtors

For the last two years one of the most popular articles on this blog has been about how to get a real estate license in Minnesota. The number of people with real estate licenses is growing and has grown. Our ranks were decimated during the housing market crash but there are always plenty of real estate agents.

The licensing process does not teach people how to sell houses but teaches the rules and laws for selling houses and what they need to know to pass a test to get a license.   The chart shows the increase in the number of Minnesota members of the National Association of Realtors. This does not account for all of the real estate licenses in Minnesota.

Many of the newest real estate agents won’t be in business next year. There is a lot of competition for business as the inventory of homes on the market remains dismally low, which means competition for business is fierce.

The numbers on the chart reflect NAR membership from the high point in 2006 through 2014 for Minnesota.

number of Minnesota Realtors

Minnesota NAR membership


St. Paul MN

Happy Father’s day


My dad is 87.  A few months ago I had to move him to a nursing home.  I brought him some donuts instead of a neck tie. Happy father’s day to all the fathers out there young and old.

Friday fun

Snake people invade the internet

It is Friday and Fridays are for fun. A few weeks ago I read about the millennial to snake people plug-in for the chrome browser.  What it does is change the word “Millennials” to “snake people”. It is a great invention it makes reading the news a bit more interesting and in the real estate industry there is a lot being written about how to market to millennials because apparently if we don’t they won’t buy houses or maybe they are the only people left that don’t already own a home that might buy one.

Here are some screen shots of what I found while using the plug-in:





My apologies to my snake people clients and the snake people that I gave birth to. You are all alright it is the rest of the world that is messed up and it wants you to buy stuff.

For Home buyers

Are you working with an out-of-towner?

Working with a real estate agent to purchase a home is a great idea but becoming a lead might not be so wonderful. I like to make sure that that all of my listings show up on the popular web sites so that potential buyers can find them. When I clicked on the link to enquire about a condo I have on the market in Summit Hill neighborhood a real estate agent with some experience selling real estate in Burnsville, Elko New Market and Woodbury responded.

Real estate agents are allowed to buy zip codes s that they can use them to capture leads. Some of them will respond immediately when I inquire about a listing and that is fine but that doesn’t mean they know anything about the area and sometimes all they know about the listing is what they read in my advertisement.

I don’t like the way sells my listings to other agents so they can be used as leads. If someone inquires about one of my listings an email and text message will go to me and a few other agents because they bought the zip code. They usually do not recognize my name because they don’t live or work around here.

There are home buyers who prefer to be leads and would rather work with an agent who does not have much experience and who does not know St. Paul but who bought a zip code and is willing to pick up the phone. If you are not one of those buyers you might want to just call or text the agent with the listing rather than clicking the link.


I love Saint Paul


Teresa Boardman
Realtor®, MN,
Licensed Broker
Boardman Realty

Ask the Broker



Photos of St. Paul
Photos of St. Paul

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