Real Estate News - November 2019 We’ve made it past Spooktober and are well on our way into Fall! The season brings football, pumpkin spice, and thic

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Real Estate News - November 2019

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We’ve made it past Spooktober and are well on our way into Fall! The season brings football, pumpkin spice, and thick sweaters. In fact, the housing market could use a layer or two as well, because the seasonal cool-down around this time of year has begun. Before you begin writing down your grocery list for your Thanksgiving feast, here’s what you need to know for the current state of the housing market:

Existing home sales are down nationwide by 2.2%. This drop was preceded by two consecutive months of growth, with the market in the Midwest region taking the brunt of the losses. Interest rates continue to hold at historically low levels, making it easier for buyers to qualify for a mortgage, but low inventory kept prices high and new homes out of reach for many. Economists blame the drop on an increase in housing prices due to limited inventory and call for new construction to prevent further decline.

However, despite the decline, sales increased 3.19% compared to this time last year. Prices rose in all regions 5.9%, marking 91 straight months of year-over-year gains.

The fourth quarter is never a bad time to get started building a plan to buy or sell a home. There is much less competition on the market and buyers who are looking now are very serious! It is also a great time to start planning and getting ready for a successful spring real estate season. Call me to discuss your options!

Sincerely,
Kristi Weinstock
Coldwell Banker Burnet
Phone: 612-309-8332
Email: kdweinstock@cbburnet.com

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58651

5865 Prestwick Court

Shorewood, MN 55331

5,830 Square Foot 5 Bedroom 6 Bath property located in Shorewood, Minnesota.

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2432 Laport Drive

Mounds View, MN 55112

Warm and inviting home located on a private lot with beautiful mature trees offering loads of updates! Highlights include new carpeting, engineered hickory floors in the lower level, acacia flooring in the kitchen, new granite countertops, kitchen appliances, bathroom countertops, lighting and fresh paint throughout.

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Kristi is an absolute pleasure to work with. From the first time you meet her, you’ll be confident and comfortable with her. She is very professional, knowledgeable, and makes the home buying/selling process much less stressful. She was great about keeping in touch; we had updates every step of the way and she was always available to answer our questions. We would highly recommend Kristi for your real estate needs; she will make the process an enjoyable one!

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Don't Miss These Top Home Design Trends in 2020

Top Home Design Trends 2020

As 2019 comes to an end and the new year looms on the horizon, we’re setting our sights on the 2020 new home design trends. Organization, eco-consciousness and tranquility are all emerging as key themes in the home design world.

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New Appraisal Rule: What Does It Mean For You?

New Appraisal Rule

A new home appraisal rule just went into effect—the first time in 25 years that “federal regulators have increased the property value limit of the homes that require an appraisal as part of the selling process,” said REALTOR® Magazine. The rule exempts some home sales priced at $400,000 and below from requiring an appraisal.

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