In early 2014 we saw huge appreciation at almost 1% a month. Towards the beginning of July through now, the market has started to show signs of slowing down. The market typically slows down around late October for the winter months, but why was it early this year?The real estate market is based simply on supply and demand. As supply goes up and demand goes down, we see slight depreciation, which is what we are seeing now. For some reason, inventory was extremely low early on in the year and now more people have put their homes on the market. With more homes being listed and new construction booming, there is more inventory right now than there has been in over 12 months. When supply is high, it is a good time to be a buyer. If you are a seller, we can still get your home sold, but setting expectations on price and time on market is very important.
Author:Kyle White Phone: 612-636-2594 Dated: September 22nd 2014 Views: 1,626 About Kyle: ...
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In early 2014 we saw huge appreciation at almost 1% a month. &nbs
"As a first time home buyer, Kyle was everything I could have hoped for in an agent. He knew everything about the Twin Cities real estate market and talked me through the entire process, explaining all of the different options. Kyle and his team were very flexible to work with me on my schedule, doing a lot of late evening showings (I work nights and sleep until 5pm). When we found a short sale we liked, Kyle warned me about the potentially long and frustrating process. We decided to make an offer anyway, and Kyle and his team really helped speed the process along (got a counter-offer from the bank in about a month). Although the seller was onboard with our offer, the bank wanted too much so we backed out. Kyle kept showing us houses in the area, and a short time later we found the perfect home for us (a foreclosure). He also negotiated a great deal with the bank that owned the home. Kyle recommended our mortgage broker was also a great help, and his rates were much better than the other banks I got estimates from. He also recommended a home inspector who did an excellent job showing us every potential problem with the house. The closing process was a breeze with Kyle and his team, and about a month later, we moved into our beautiful new home. I can't thank Kyle enough for all of his help and hard work!"