Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Posts about Buying

Groundbreaking: 33 new condos coming to St. Louis Park

Posted by: Jim Buchta Updated: May 7, 2014 - 10:47 AM

Minneapolis-based Oppidan Investment Company bought the former Most Holy Trinity Catholic Church at 3946 Wooddale Avenue S. in St. Louis Park and plans to build a condominium complex called Wooddale Flats, which will include six buildings with 33 units. The first building will hold three units and the remaining five buildings will hold six each. Here are some of the features:

  • Each building will have a shared rooftop deckalong with one private rooftop deck available for purchase.
  • To provide more owner privacy, there will be no long hallways or common walls between living areas, and some units will be multi-level.
  • All condominiums will be end units that feature three exterior walls with windows.
  • Each unit will have wood floors, stainless steel appliances, and multiple bedrooms and will come with one garage. Units are between 1,342- and 1,990-square feet.

Construction is expected to begin in late May or early June with the first move-ins happening in January of 2015. David Carlson at Gatehouse Properties will market and sell the condo units, which start at $364,900.

Twin Cities house price gains in the top-10 nationwide

Posted by: Jim Buchta Updated: May 6, 2014 - 4:43 PM

A new monthly report shows that house prices in the Twin Cities metro, including foreclosures and short sales, increased by 9.0 percent in March 2014 compared with last year,according to CoreLogic's House Price Indicator. From February to March house prices in the Twin Cities increased by 0.7 percent.

That was the ninth-biggest year-over-year gain among the nation's largest metro areas and only slightly below the national average, which stood at 11.1 percent.

CoreLogic's HPI is a unique look at what's happening to house prices because it tracks repeat-sales of the same homes over time, including single-family attached and single-family detached homes. Stay tuned for the April sales report from the Minneapolis Area Association of Realtors, which we'll publish here on May 12. That report will include closings, pending sales and a detailed look at what's selling in this area.

Droning on about drones

Posted by: Jim Buchta Updated: April 17, 2014 - 4:03 PM
In this photo taken on Friday, March 7, 2014 and provided by Foxfire Realty, Jonathan Collins, right, and Paul Grist, test-fly Foxfire Realty’s new camera-equipped drone at the West Virginia State Fairgrounds in Lewisburg, W.Va. The drone, named Chopper Foxfire, carries a high-resolution Go-Pro camera capable of taking high-definition video and still photos. (AP Photo/Foxfire Realty)

In this photo taken on Friday, March 7, 2014 and provided by Foxfire Realty, Jonathan Collins, right, and Paul Grist, test-fly Foxfire Realty’s new camera-equipped drone at the West Virginia State Fairgrounds in Lewisburg, W.Va. The drone, named Chopper Foxfire, carries a high-resolution Go-Pro camera capable of taking high-definition video and still photos. (AP Photo/Foxfire Realty)

If you read my Sunday story about the rising - and controversial - use of drones to help sell real estate, you might be interested in a couple tidbits on the topic:

  1. There was a gathering in Thief River Falls on Tuesday aimed at further the conversation about how to make Northwest Minnesota a drone hotspot, or a drone technology center. Here's the story from my colleague, Adam Belz.
  2. A recent item in the Wall Street Journal, and on a tech-focused website called TechCrunch, says that Google has acquired Titan Aerospace, a drone startup that makes high-flying robots that was previously scoped by Facebook as a potential acquisition target.
  3. To counter the many misconceptions and misinformation about regulations related to unmanned aircraft system (aka drones,) the FAA recently released a new fact sheet that includes what it says are common myths and the corresponding facts.

Sales of $1 million-plus homes nationwide nearly double

Posted by: Jim Buchta Updated: April 11, 2014 - 12:29 PM

A recent CoreLogic MarketPulse report provides a graphic look at a trend that you'd intuitively expect: Sales of expensive houses rise and fall with the stock market. The chart below shows the relationship between sales of $1 million-plus houses, which now represent about 2 percent of all sales, and the performance of the S & P 500. Not surprisingly, they follow they course. Here's a link to the full March report.

March housing: Closings declined, prices and listings increased

Posted by: Jim Buchta Updated: April 10, 2014 - 10:46 AM

Twin Cities real estate agents say that a shortage of listings and harsh weather put a lid on home sales during March, but with fewer foreclosures in the mix and limited options for buyers in some areas, prices were up compared with last year. And those higher prices helped draw more sellers into the market. All of that is according to a monthly report from the St. Paul Area Association of Realtors. Here's a quick look at the Twin Cities housing market during March:

  • Closings: 3,133, down 16.7%
  • Pending sales: 4,141, down 8.4%
  • Median sales price: $190,000, up 7.6%
  • New listings: 6,492, up 5.5%
  • Inventory of homes for sale: 13,086, down 4.1%

This weekend's most expensive open house: A $3.495 million private peninsula on Lake Mtka

Posted by: Jim Buchta Updated: April 4, 2014 - 4:52 PM

Warmer weather is expected to bring out the house shoppers this weekend, and agents are at the ready with thousands of open houses in all corners of the metro and in all price ranges.

Here's the top-priced listing that'll be open this weekend: 2400 Cedar Point Drive in Woodland is a private peninsula that's listed at $3.495 million (that's after $1.455 million in price reductions). The property, which includes 1,693 feet of shoreline, is listed by Ellen DeHaven of Coldwell Banker Burnet. The owner, according to county records, is US Bank. Here's a link to the listing. The open house is from 2:30 to 4:30 Sunday.

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT