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CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Henneping County Mortgage Foreclosure Workshops

Mortgage Foreclosure Workshop Schedule - 2010

A new series of Foreclosure Information Workshops have been scheduled for the first quarter of 2010.

These workshops are presented in a collaborative effort between the the Taxpayer Services Department of Hennepin County and the Minnesota Home Ownership Center.

Saturday, January 30th, 2010 10:00 a.m.
Central Library, Doty Board Room (2nd Floor)
Nicollet Mall, Minneapolis 612-630-6000

Tuesday, February 16th, 2010 6:30 p.m.
Rockford Road Library
6401 42nd Ave. N, Crystal 952-847-5875

Tuesday, March 23, 2010 6:30 p.m.
7100 Nicollet Ave., Richfield 952-847-5300

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Market Activity Report - WE 1/25

Weekly Market Activity Report
provided by MAAR

Activity continues to pick up in the Twin Cities housing market as sellers and buyers bid a sad farewell to the Viking's football season and the dormant holiday market begins to thaw. New listings, sales and inventory are steadily increasing as we prepare for the spring selling season.

For the week ending January 16 there were 571 signed purchase
agreements, up 4.0 percent from a year ago. That's only the second week of year-over-year increase in the last nine. New listings were 8.3 percent higher than a year ago at 1,668, and the total inventory of homes available for sale currently sits at 20,459, down 18.9 percent from last year at this time.

With an extreme shortage of inventory in some of the lower price ranges, new listings may be welcome in that segment for the first time in several years. In the upper price ranges, sales activity is still declining and new sellers face a tougher market.

Visit HennepinGroup.com for the latest new home listings in Minneapolis, St. Paul, Maple Grove, Plymouth all surrounding cities.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Weekly Market Activity Report - WE 1/19

Twin Cities Weekly Market Activity Report - WE 1/19
provided by MAAR

Weekly Market Activity Report

The first full week of reporting for the Twin Cities housing market is in and while there are a few "green shoots," it's becoming clear so far that the market won't see the same spectacular growth in sales it saw at the beginning of 2009.

There were 520 pending sales for the week ending January 9, down 1.7 percent from the same week in 2009. That's the seventh week of the last nine to see fewer sales than the prior year, a time period that coincides closely with the initial expiration date of the first-time home buyer tax credit. However, we’re still 21.2 percent higher than the pace in 2008 for that period.

As you likely know, the credit's been expanded to include a $6,500 incentive for buyers who have owned a home for five years of the last eight. Since we can safely assume that many of these buyers will need to sell their home first before buying a new one and receiving the credit, we can look to our new listings numbers to see how much effect the new credit is having. So far, it doesn't appear to be much.

Over the last three months, the number of new listings has been 11.7 percent behind the same period one year prior. With many looking for continued "seedlings" of hope in the local housing market, this isn't welcome news. As always, we'll be keeping a close eye on things and reporting back what we see.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Montly Skinny - January

Twin Cities Monthly Skinny - January
provided by MAAR

We have seen a definite drop in REO properties from the previous year as the available inventory begins to dry up. Look for the 2010 to be the year when we begin to move out of a buyers market and into a balanced market for the Twin Cities. There will still be many challenges if you are trying to sell in the higher end of the market but things are moving in the right direction.



Contact me to find out specifics on the Elk River, Big Lake, Otsego, Rogers, and Zimmerman local real estate markets or visit HennepinGroup.com for the latest MLS listings.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Can I Buy an Unfinished Home?

I know we have all seen them - Houses that have been started and are now sitting there unfinished. Some homes are at the foundation or framed while others need just finishing work. I saw this great article regarding unfinished homes and I thought I would share it. enjoy!

Half-Built Homes Can Be Bargains, but with Strings Attached
By Mary Shanklin

RISMedia - First came foreclosures, then short sales. Now we are seeing more half-finished homes for sale: bare-stud, bare-yard houses abandoned by their builders and left to languish on the market.

Purchasing a partially-built home is nothing new; during the housing boom, many new-home contracts were signed before even a slab had been poured. The difference now is that the builder might no longer be around to finish the job, particularly if it’s a house started by a custom builder who subsequently lost clients, financing, or its entire business.

If you would like to continue reading the article please click here

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Weekly Market Activity Report - WE 1/11

Twin Cities Weekly Market Activity Report - WE 1/11

Housing activity for the week ending January 2, 2010 took a
predictable surge upward following the holiday break. New listings rose to 688 for the week—down 37.3 percent from a year ago—while pending sales posted a number of 378—down 11.7 percent from a year ago. We will likely have to wait another week for all the holidays and frosty weather to get flushed from our year-over-year comparisons to get a full understanding of where our market is headed.

A few additional stats for the New Year: Housing Affordability continues at historic levels: rising to 208 for January, an 8.3 percent increase from the previous year and a good sign for buyers in the year to come.

The Months’ Supply of Inventory is back in balanced market territory at 5.0 months. This is a dramatic 34.2 percent under the supply at the beginning of last year.

With a balancing supply and demand and the possibility of rising interest rates on the horizon, this is a unique opportunity time for Twin Cities' home buyers. Provided by MAAR

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com