Real Estate Blog

This Weekend's Open Houses
I'll be hosting in Edina and Minneapolis this weekend.  If those are locations where you're wanting to be, come check them out!

Saturday, September 14, 12 noon - 2pm
3032 Humboldt Ave S, Minneapolis, MN
$774,900   5 bedrooms, 3 bathrooms, 2 car detached garage, 2990 square feet
More info:  https://bit.ly/3MJLrhT
Great location, walk to the lake, upgrades throughout including kitchen and owner's suite.  Move-in ready and waiting for you!

Saturday, September 14, 3pm - 5pm
6817 Saint Patricks Lane, Edina, MN
$725,000   4 bedrooms, 3 bathrooms, 2 car attached garage,  2784 square feet
More info:  https://bit.ly/4ee01dg
Stunning Edina two story with updated kitchen, lovely main bedroom, 1/3 acre lot.  Great floor plan with light throughout.  This one's a keeper!

Market Outlook
With the Fed scheduled to talk about rates on September 18th, it's pretty safe to say that mortgage rates are on everyone's mind right now.  The consensus is that the Fed will reduce rates by  0.25% - 0.50% and the bond market has already begun to reflect that expectation in lower rates.  What that means is that mortgage rates, which are based on government bond rates, are also declining already as well.

According to Mortgage News Daily, mortgage rates now look like this:
30 year conventional:  6.15%
30 year FHA:  5.69%
15 year conventional:  5.67%
So, if you're waiting for rates to drop, you're getting your wish.  Right now anyway!

Tip:  Did you know that lenders are usually willing to offer you the best rate available if mortgage rates drop while you're waiting to close?

Home Sales
Homes continue to sell at a solid pace.  Pricing is getting tougher for sellers right now and days on market getting longer, but homes that are in great condition are still getting asking price and often getting more in competitive offer situations.
If you're a buyer, take a look at homes that have been on the market 30 days or more and make an offer below asking price.  Sellers are a bit shocked that homes are taking longer to sell now and they may be willing to work with your offer, especially if they don't have other offer options!

My Listings
I still have two listings in the Centre Village building at 433 S 7th Street in Minneapolis.  If you are, or know, Vikings fans who want a place to be that's near the stadium, come check out my 1 bedroom and 2 bedroom condo units!  It's a super building with updated party room, business center and community room, outdoor heated pool, club-level gym with sauna, steam room and hot tub.  These aren't open this weekend, but I'm happy to schedule a showing for you, or someone you know, any time.  Here those are:

433 S 7th Street Unit 1827, Minneapolis, MN
$199,900  2 bedroom, 2 full bathroom
Great 970 square foot floorplan and amazing 130 degree view of the city, including US Bank Stadium!
HOA is $839/mo and covers most everything except electricity.
Link to listing info here:  https://bit.ly/45AMA3T

433 S 7th Street Unit 2219, Minneapolis, MN
$129,900   1 bedroom, 1 full bathroom
The simple floorplan is the thing here.  Many smaller units don't have a great flow.  You'll be impressed with this one!  HOA is $631/mo and covers most everything except electricity.
Link to listing info here:  https://bit.ly/4cy2IWl

About Mitch
Yes, I'm a Realtor in the Twin Cities servicing the larger metro area and western Wisconsin.  I represent buyers and sellers (both very different skillsets, by the way) who want great service and positive outcomes!  If you're thinking of buying or selling in the next 12 months, give me a call and let's talk about how it works, the market and what your dream home looks like to you.