2021 was  a wild and crazy year for Minnetonka real estate along with pretty much the entire Twin Cities area. I personally competed for my buyers on a number of homes in multiple offer situations with 12 or more offers on the table. We won quite a few but lost some as the prices other buyers were willing to offer just did not make sense. In one case, a $500,000 (list price) Minnetonka home Continue Reading

Following is an article written by Lauren Lawley, Head freelance writer with The Business Journals Content Studio. Below the article is a link to the full article on their website.   Renovation boom drives demand for contractors Most U.S. homeowners are ready for a change. Whether it’s turning a bathroom into a spa-like retreat or bringing a fresh look and smart appliances into Continue Reading

According to Forbes, there is about $1.7 Trillion dollars in student loan debt. Which is understandable why student debt is delaying consumers decisions to purchase a home and hampering their ability to save up for a down payment on a home. Since 2013, the National Association of REALTORS® (NAR) has collected primary research examining the effect student loan debt has on successful and Continue Reading

I am seeing more cash offers from corporations on my clients properties than anytime in the past. These corporations are directly competing with not only first time homebuyers but also move up buyers and even buyers of cabins and lake homes.  Residential real estate has been slowly transformed over the past few years by corporate buyers who turn single family homes into rental properties and Continue Reading

I am seeing cash offers win a few bidding wars however that does not always need to be the case. Sure Cash is King as the saying goes however my sellers have accepted mortgage backed offers over cash and my buyers have won bidding wars for property with mortgaged offers. If there is a will, there is a way. Sorry, another old saying... Anyway, I would say corporate offers for property are Continue Reading

Last month we saw the Minnetonka real estate listing activity go way up and  now we can see the results of those new listings with a 29% increase in closings over the same period last year and a whopping 22% increase in the median sales price! Following is the June Minnetonka Local Market Update from the Board of Realtors.   Continue Reading

Spring has Sprung and new listings in this HOT Minnetonka real estate market are finally on the rise! The following Local Market Update from the Board of Realtors shows a 20% increase in homes hitting the market with a 23% increase of closed sales over the same period last year. The report also shows a 1.9% increase in sales price which I find hard to believe as I am seeing multiple offer Continue Reading

I hired Craig Anderson to take a few drone photos of Lake Minnetonka and the fall colors from high above the lake. His amazing work is below, but first, a little about the man. Meet Craig Anderson; Life saving Emergency Medical Services (EMS) Critical Care Paramedic by day, creative real estate photographer/drone pilot by night! (actually in his free time, when he's not saving lives or having Continue Reading

The 30-year fixed rate mortgage came off its recent all-time lows to average near 3% this week. The 10-year Treasury yield, which mortgage rates closely follow, hit its highest level in the past year, prompting the increase in rates. “As the economic recovery progresses, mortgage rates are expected to rise further in the upcoming months,” writes Nadia Evangelou, senior economist and director of Continue Reading