• General
  • Keep the dream alive

    Martin Luther King Jr. Day 2016, Monday, Jan. 16,  honors the slain civil rights icon near what would have been his 88th birthday.

    I have a dream that one day this nation will rise up and live out the true meaning of its creed: “We hold these truths to be self-evident, that all men are created equal.”

    – Martin Luther King, Jr 1963

    Let’s keep the dream alive and the hope that one day even a black man can drive a car with a burned out tail light and live to tell about it.

    The Twin Cities  are  home to some of the worst racial disparities in the country. In metrics across the board—household income, unemployment rates, poverty rates and education attainment—the gap between white people and people of color is significantly larger in Minnesota than it is most everywhere else. There is also a large gap in home ownership between people who are white and people of color. Homeowners have a significantly higher net worth than renters have.

     

    Dr. Martin Luther King Speaking at the University of Minnesota
    Dr. Martin Luther King Speaking at the University of Minnesota –

    Photograph from the Minnesota Historical Society collection

  • Local Market Conditions & home prices
  • Where the houses go

    Market watch
    Market watch

    The graph above is one of the first things I look at each morning. Today there is one more house on the market than there was yesterday but we are still at an all time low for the number of homes for sale and just when I think we have reached bottom we go down further. Right now there are fewer than 500 homes for sale the our fair city.

    In the last three days there have been 27 new listings but there have also been 27 homes that got offers that were accepted by the seller. (pending status) Ten listed homes were cancelled but 7 homes came back on the market.

    People like to wait until spring to put their homes on the market. The spring real estate market usually starts in January. Usually we see the highest home prices in April and May. Those numbers represent home sales that closed during those months and those homes were put on the market during the winter.

  • General Real Estate News
  • Supply down but sales are up

    pink
    January 2017 - in the pink

    In 2016 we hit some all time lows for the number of homes for sale in St. Paul and in the region but there were more homes sold in 2016 then have been sold during any year in the past decade. The number of homes for sale remains low because homes are selling quickly in St. Paul and in the entire region.

    In 2006 during much of the year there were three times the number of homes on the market during any given month than there were on the market during the same months is 2016 yet about 300 more homes were sold in 2016 in St. Paul than were sold in 2006.

    Median home prices are about $16,000 lower in St. Paul in 2016 than they were in 2006.

    Home values will likely go up in 2017 because of short supply. We are also facing a housing affordability crisis as rents and home prices increase faster than earnings.

  • St. Paul MN
  • St. Paul and the blue carts

    bluecart

    My job takes me all over the residential areas of St. Paul. I drive down alleys to view houses from the back and I drive up and down the street looking for the homes that I need to show my clients.

    Ever since last weeks strong winds the blue carts that were recently distributed in St. Paul are pretty much all over the place. I am starting to wonder if people will use them or just ignore them. On some of the streets they were dropped off in front of the houses instead of in the alley behind the homes which has confused some homeowners . . . not hard to do.

    Personally I was pretty excited about the blue cart that was dropped in front of my house. I love the idea of having recycling picked up in the alley and finally having one container that is large enough.  I won’t miss having bins to haul to the front boulevard every week.

    The new program starts on January 16th. There are complete instructions about how to use the carts on a sheet that is attached to the lid. If you are wondering what the blue cart is for and how it works please go outside and grab the instructions and read them.

  • General
  • Changing landscape

    destruction
    Old west publishing building on Kellogg

    This is what is left on the Ramsey County Jail and West Publishing site along Kellogg Blvd as viewed from Shepard road in St. Paul. The site will be hard to develop. Ramsey county is making it all easier by demolishing the buildings and shoring up the bluff.  The last news about the site suggested that it would be redeveloped for mixed use. We don’t need more office space downtown but housing seems to do well.  Micro apartments would be nice.