The January Skinny was a year end update for 2009 as we closed the book and took a huge step toward a balanced market in the Twin Cities. As many of the community snapshots I have posted over the past 3-4 weeks have stated, this is due to many factors. Most noteably, historic affordability, low interest rates, the first time buyer tax credit and pent up demand.
The February Skinny recaps a slow start to 2010. While traditional sales were finally up, home prices are stabilizing and market times are down, there is still reason to be concern. The tax credit for homebuyers that has spurred home sales over the past few months will soon expire. Add to that, the Federal Reserve has announced it will no longer purchase mortgage backed securities which is predicted to cause interest rates to rise...2010 will be an interesting year for buyers, sellers and home owners.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2010 Teri Eckholm