General Real Estate News

The number of homes for sale is slowly rising. The number of houses being purchased has slowed a bit. The inventory of homes for sale remains low.

I like to look back to 2019 as the last normal year for home sales. Since about 2013 we have experienced a strong seller’s market. Home prices will continue to rise because demand is strong and supply is relatively low. The average days on the market for homes for sale in the Twin Cities sits at about 20 days, another indicator of strong demand for real estate.

July numbers are old news, but they don’t get published until August. It is important to remember that it is usually at least 30 days from the offer to closing. Home sales were down in July month over month nationwide.

National elections are on November 5th 2024. We will elect a new president and depending upon which district you may be voting for a senator or representative too.

In Minnesota, voters can register at the polls but there are better and faster ways to register. Register today.  If you are going away to college or will not be home to vote this November, get your absentee ballot today.

You can check to see if you are registered to vote right now.

If you have recently moved you need to register. You can wait until election day and register at the polls but if you register ahead of time voting will be faster and easier.

There is early voting too starting September 20th and ending November 4th.

I’ll be writing periodic posts about the importance of voting which is voluntary but should be required. Every vote matters.

This year the presidential election lands on November 5th which is also my birthday. It happens that way every 28 years.

I have a feeling there will be much to celebrate.

Every August we get new contract forms for Minnesota real estate. We get to see the forms or parts of them before they become effective but do not have access to them until August 1st. If you are buying a house August 1st isn’t the best day to do it.  There is a higher likelihood that a Realtor will make a mistake when she sees and uses new forms for the first time.

The reason why we do not get the forms ahead of time is because . . . . . ?  It might just be about trust. Maybe someone would use the new forms before August 1st?

This year’s changes include a few new forms. The forms outline who will pay a buyer’s agent.

Our contracts tend to get a little more complex and longer each year. There have been some real improvements, including page numbers. In the old days, buyer’s agents had to put page numbers on purchase agreements, which didn’t always end well.

If you are a home buyer or seller you should take the time to read the contracts.

August 1st is also a day in Minnesota when new laws go into effect.

Enjoy!