Your friendly (and busy) real estate blogger ran across a couple of relatively promising national housing reports today that were worth noting (in brief):
- Prices of distressed properties increased last year, but those distressed sales (foreclosures and short sales) still made up 43 percent of all transactions last year, according to RealtyTrac. Here's the full report.
- Though the market is still saturated with foreclosures, their presence continues to fade. CoreLogic said that foreclosure inventory during January was down 21 percent from a year ago. That was the 15th-consecutive month of year-over-year declines. Here's a link to the local data.
More from Just Listed
Developer Hines has broken ground on its all-timber office building in Minneapolis' North Loop, the first commercial building in the U.S. to use an engineered wood material for its interior and structure. The Houston-based real estate company announced Monday the start of construction on the 220,000-square-foot, seven-story office building (being called T3 for its emphasis on timber, transit and technology) that has garnered national attention.
A Radisson Red hotel, the chain's latest brand, is coming to downtown St. Paul across from the Xcel Energy Center. Minnetonka-based Opus Development Company and Minneapolis-based Greco, the joint partnership proposing a mixed-use development on the highly visible Seven Corners Gateway site, also announced Carlson Rezidor Hotel Group as a partner and owner of the hotel. The news comes about three months after Ryan Cos. announced it was building a Radisson Red in Minneapolis as a part of its Downtown East project near the Vikings stadium.
Breezy Point Resort on the North Shore of Lake Superior is the latest ma and pa resort to change hands
The waterfront cottages were bought by Odyssey Resorts, which now owns seven properties in northern Minnesota
Mattamy Homes is planning to convert one of the oldest golf courses in the state into an upscale housing development.
Tony Kuechle is the company's new vice president of development and Melissa Pahl has been named director of development