Rochester MN Real Estate Market Blog

After two weeks of nice declines, mortgage rates rose during the week, back to the levels seen at the end of February. March was an extremely volatile month, with large daily swings a common occurrence. Investors bought mortgage backed securities during periods of increased concern about the stability of the credit markets. Just as quickly, [...]

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The Rochester, Minnesota area housing market had 87 new residential listings last week (March 10 to 16, 2008) with an average list price of $202,287.  Eleven residential properties came back onto the market with an average list price of $235,590 and average market time of 261 days.
 There were 44 homes going under contract (to pending) [...]

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Tuesday, the Fed’s surprise announcement of a new $200 billion lending facility led to a 400 plus point rally in the Dow, the biggest one day percentage gain since March 2003. The effect on mortgage rates was also favorable. The newly available funds will make it more appealing for financial institutions to borrow money from [...]

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There are currently 1,115 active listings for sale in the Rochester, Minnesota residential real estate with an average list price of $236,404 and an average of 168 days on the market.
Last week (March 3 through 9, 2008) there were 98 new listings with an average asking price of $215,831, and 17 listings came back onto [...]

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In a week packed with major economic news, the biggest story for mortgage markets was the widening spread between mortgage backed securities and Treasury bonds. Issued by the US government, Treasury bonds are generally considered to be the benchmark for a “safe” security, since the risk of default is extremely low. During the week, the [...]

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Effective today the new maximum FHA loan limit for Olmsted county has increased to $271,050.  FHA allows a little more flexibility for borrowers with less then perfect credit or down-payment money that is being gifted to them. This is also  good news for sellers up to this loan limit as the pool of buyers of perspective [...]

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Chicago, IL – We are happy to announce that Shawn Buryska has successfully completed the course requirements and has earned the designation ABR on March 4th 2008. The Accredited Buyer Representative (ABR®) designation is the benchmark of excellence in buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate BUYER’S [...]

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There are currently 1068 active listings for sale in the Rochester, Minnesota residential real estate with an average list price of $235,391 and an average of 179 days on the market. 
Last week there were 85 new listings with an average asking price of $203,374 and an average of 6 days on the market.  There were 12 listings that came back [...]

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My theory throughout my career has been if you can freely offer people solid and helpful advice you’ll stand apart from crowd.
When the internet started to be used by the masses, I saw it as the perfect venue to offer buyers and sellers a resource where they could get their various real estate questions answered. [...]

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