Rochester MN Real Estate Market Blog

Between the housing bubble burst, the economic collapse, and the increased costs of everything from food to fuel, it’s no surprise that older Americans are facing an increased gap between their annual income and expenses. According to a recently released report by Wider Opportunities for Women, more than half of U.S. elder households have incomes [...]

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The Rochester Minnesota area housing market inventory continues to increase steadily as we move through the spring market. Last week, March 16-22, 2012, there were 56 new residential listings with an average asking price of $175,360 and 35 homes going off the market under contract. The pending listings had an average asking price of $209,437 and an [...]

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From questionable lending decisions to shady foreclosure practices, the mortgage industry has been under something of a cloud for the last several years. A recent settlement between the state attorneys general and the five leading bank mortgage servicers, along with mortgage loan service reforms, is a positive sign that progress is being made. The Settlement Agreement [...]

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Last month the Rochester, Minnesota residential real estate market saw its strongest February in years. Showings were up 24% year over year for the month of February as buyer interest begins to grow. Both signed contracts and home closings reached their highest levels in February since 2008, the second month in a row that the [...]

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Tomorrow may be the first day of spring, but the Rochester, Minnesota residential housing market has been showing great signs of the spring market for several weeks now with homes selling steadily while inventory continues to increase. The second week of March continued the strong trend we’ve been seeing so far this year with 94 [...]

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Rochester Minnesota area home sellers are seeing the attractions of the spring market as even more homes were listed for sale last week (March 2 to 8, 2012) than the previous week. There were 83 new residential listings in Rochester with an average asking price of $230,190. The number of signed contracts was down almost 50% [...]

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Foreclosures in Minnesota, 2011 Report There were 21,298 homes sold at Sheriff’s Sale in 2011 in Minnesota, the fewest since 2007. However, it also reflects the fact that the foreclosure crisis is not over yet, as it means that over 1% of EVERY HOME in Minnesota was lost to foreclosure last year. It also brings [...]

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Spring has sprung in the Rochester Minnesota area real estate market. With 77 new residential listings and 51 signed contracts last week, the Rochester Minnesota residential real estate finished February stronger than it has in several years. Last week’s 51 homes that went under contract represented a 76% increase year over year. Average asking price for these homes [...]

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