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Jim Buchta

Reporter | Residential real estate
phone: 612-673-7376
Jim Buchta is the Star Tribune's residential real estate reporter, covering the Twin Cities housing market and its trends. He also contributes to the Star Tribune's Travel section.
Recent content from Jim Buchta
Twin Cities home prices reach all-time high, a decade after they last did

Twin Cities home prices reach all-time high, a decade after they last did

Twin Cities home prices reached an all-time high last month, precisely a decade after they last peaked. The median price of all closings was $242,000…
Whiteboard: Home ownership nonprofit markets finance app

Whiteboard: Home ownership nonprofit markets finance app

Nonprofit Homeownership Preservation Foundation created BluePrint to help users manage personal savings and debts
Between the airport and MOA, a new phase of development kicks off

Between the airport and MOA, a new phase of development kicks off

Plans are underway for the third phase of a massive redevelopment effort in Bloomington not far from the Mall of America and Minneapolis-St. Paul International…
Sm+RT works on first factory-built house in Minneapolis

Sm+RT works on first factory-built house in Minneapolis

In May, Thor Construction CEO Ravi Norman and two colleagues announced a plan to help fill a gaping hole in the Twin Cities housing market.…
Conversions are cornerstone of St. Paul construction boom

Conversions are cornerstone of St. Paul construction boom

Stately old downtown office buildings are getting new residential roles
Developer plans to build 600-700 apartments in St. Anthony Park

Developer plans to build 600-700 apartments in St. Anthony Park

Developer buys 13.3-acre industrial site for project with 600 to 700 apartments.
New home construction accelerated sharply in June in Twin Cities

New home construction accelerated sharply in June in Twin Cities

Residential construction permits rise, with nearly all for single-family houses.
To get an edge on a home deal, buyers write personal letters

To get an edge on a home deal, buyers write personal letters

Jason Stockwell, a real estate agent, said a well-crafted letter can be so powerful that some sellers take a lower offer. "Some sellers cry," Stockwell said.

HomeServices buys Colorado brokerage with luxury focus

Twin Cities-based HomeServices buys Colorado brokerage.
$18.3M Eagan apartment sale adds to signs of record pace

$18.3M Eagan apartment sale adds to signs of record pace

An entity related to Manhattan-based Abacus Capital paid $18.3 million in cash for the 188-unit Colonial Village complex on Silver Bell Road in Eagan.
Twin Cities house prices near all-time high as May sales climbed

Twin Cities house prices near all-time high as May sales climbed

Last month was the second-highest median price in the Twin Cities.
Frank Lloyd Wright house in St. Louis Park on the market for first time ever

Frank Lloyd Wright house in St. Louis Park on the market for first time ever

Home designed by master architect has been with original owners for nearly 60 years
A turn nears in the building frenzy of Twin Cities apartments

A turn nears in the building frenzy of Twin Cities apartments

Developers are about to tap the brakes on new construction after delivering a near-record number of new rentals this year.
40-story condo tower for St. Anthony Falls area gets zoning panel OK

40-story condo tower for St. Anthony Falls area gets zoning panel OK

Plan will go to Mpls. City Council after panel overturns heritage group.
New apartment complex in St. Anthony Park features 'micro' units

New apartment complex in St. Anthony Park features 'micro' units

Planned St. Anthony Park building would feature small, lower-rent spaces.
Most Twin Cities home sellers getting more money than they ask for

Most Twin Cities home sellers getting more money than they ask for

An unbalanced market in which house hunters outnumber listings is forcing buyers to bid aggressively, or lose out.
What does the future hold for downtown living in Minneapolis?

What does the future hold for downtown living in Minneapolis?

With a condo tower nearing completion and two in the final planning stages, what comes next downtown in a city where commercial construction topped $1 billion for four straight years?
Homebuilding busts out in Twin Cities in May

Homebuilding busts out in Twin Cities in May

It was the strongest May in the metro in years, and, in a shift, houses outnumbered apartments.
Lake home sales on upswing, with deals to be had as prices are soft

Lake home sales on upswing, with deals to be had as prices are soft

Shifting demographics and postrecession caution have kept the lakeshore market far more balanced between buyers and sellers.
New company building modular homes on vacant lots in north Mpls.

New company building modular homes on vacant lots in north Mpls.

Twin Cities start-up seeks to fill hundreds of vacant lots in north Minneapolis — remnants of the city's predatory lending and foreclosure crisis — with the factory-built homes.
Stanton's latest downtown condo project clears hurdle

Stanton's latest downtown condo project clears hurdle

Coon Rapids developer Jim Stanton received approval this week from the Minneapolis Planning Commission for his biggest downtown condo project yet: the Legacy, a 374-unit…
Ian Peterson hopes for welcome market as Weekley expands to Twin Cities

Ian Peterson hopes for welcome market as Weekley expands to Twin Cities

When Texas-based homebuilder David Weekley decided to expand to the Twin Cities, it tapped industry veteran Ian Peterson.

HomeServices converts another franchisee

For the second time in a week, Twin Cities-based HomeServices of America Inc., a Berkshire Hathaway affiliate and parent company of Edina Realty, bought one…
Strong home sales market grew even tighter in Twin Cities during April

Strong home sales market grew even tighter in Twin Cities during April

At same time, metro inventory shrinks, putting pressure on both sides of the deal.
Mortgage rates keep falling, inviting more buyers to a crowded market

Mortgage rates keep falling, inviting more buyers to a crowded market

The latest drop followed disappointing economic data

Downtown Minneapolis promoters expand apartment tour

Boosters are expanding their efforts to promote living in downtown Minneapolis. Explore Downtown Living is becoming a twice-a-year apartment tour, an urban version of the…

HomeServices adds Oregon brokerage to its portfolio

  Twin Cities-based HomeServices of America Inc. is expanding in the Pacific Northwest with the purchase of one of its franchisees, one that already has…
Obituary: Bill Morrissey, hotelier and St. Paul promoter

Obituary: Bill Morrissey, hotelier and St. Paul promoter

From the beginning, Bill Morrissey was destined to work in the hospitality industry. He was born in Minneapolis and raised in Bloomington, where his first…
Preservation Commission says no to proposed 40-story Mpls. condo tower

Preservation Commission says no to proposed 40-story Mpls. condo tower

At a standing-room-only meeting, the Minneapolis Heritage Preservation Commission on Tuesday voted in favor of allowing a developer to demolish two buildings but denied a…
In Twin Cities, as demand rises, so do entry-level homes

In Twin Cities, as demand rises, so do entry-level homes

As first-time buyers in the Twin Cities slug it out over a paltry number of listings, homebuilders are scrambling to help satisfy that demand.

Twin Cities new-home permits jump in April

Homebuilders in the Twin Cities heartened by "steady growth" in 2016.
Cray becomes first tenant at Mall of America office tower

Cray becomes first tenant at Mall of America office tower

The supercomputing company is leaving downtown St. Paul.
In Edina, Opus plans apartments on site of former UnitedHealth building

In Edina, Opus plans apartments on site of former UnitedHealth building

One of the largest developers in the Twin Cities has floated a plan to develop apartments in a suburban office park. Opus Development Co. wants…
Schafer Richardson heads to St. Paul, plans apartments near Xcel Energy Center

Schafer Richardson heads to St. Paul, plans apartments near Xcel Energy Center

Apartment venture would be the Mpls. firm's first in capital.
In tight housing market, some sellers add a twist

In tight housing market, some sellers add a twist

Growing number won't sell without home lined up.
Even in a hot real estate market, home sellers need to spruce up

Even in a hot real estate market, home sellers need to spruce up

Do the harvest gold appliances just have to go? What about the country oak cabinets? Time to gut the entire kitchen?With the start of the…

Executive changes at Steven Scott, MSR Design and HomeServices

Barbara Halverson is retiring after 44 years with Steven Scott Management, Inc., most recently as chief executive and president of the St. Louis Park-based rental…
Big projects usher in new era for old area of Mpls., with worries

Big projects usher in new era for old area of Mpls., with worries

Major developments will bring hundreds of new apartments to a historic neighborhood just across the river from downtown Minneapolis. But some worry that they will alter the area's character and create the same hassles that are found downtown.
Twin Cities deals continue to rise as home inventory tightens

Twin Cities deals continue to rise as home inventory tightens

There was no shortage of home buyers in the Twin Cities last month, but sellers were scarce. Median prices also rose as sellers continue to have an advantage over buyers.
Minneapolis panel gives initial approval to Elliot Park apartment project

Minneapolis panel gives initial approval to Elliot Park apartment project

A Minneapolis apartment development — the first in the city for a high-profile national developer — got the thumbs up from the Minneapolis Planning Commission…
Minnesota's foreclosure rate is now one of the nation's lowest

Minnesota's foreclosure rate is now one of the nation's lowest

It's another sign of the state's strong housing market.
Minneapolis 40-story condo tower proposal is delayed by petition

Minneapolis 40-story condo tower proposal is delayed by petition

A proposal to build a 40-story condo tower across the river from downtown Minneapolis was scheduled to be reviewed by the Minneapolis Heritage Preservation Commission…

Shift accelerates from apartments to houses in Twin Cities construction

As apartment construction in the Twin Cities calms, house construction is gaining steam, the latest report from the Builders Association of the Twin Cities shows.…

Just Listed: Dominium begins building senior apartments in Prior Lake

Dominium begins construction of Prior Lake senior apartment complex Construction started this week on a low-income senior housing complex that will replace a strip mall…
Apartment tower planned for the U aims for the professionals, too

Apartment tower planned for the U aims for the professionals, too

Developer says he's aiming to "appeal to everyone."
Development project is a test of housing strength in N. Mpls.

Development project is a test of housing strength in N. Mpls.

Bob Lux is confident buyers will pay $299,000 for a new, four-bedroom house with a creek view, granite counters and an open floor plan in north Minneapolis.

HomeServices of America hires web veteran Alon Chaver as chief information officer

HomeServices of America said Thursday it hired Alon Chaver, a former vice president at Trulia, as chief information officer, a new position at the firm.…
Excelsior & Grand apartment and retail sell for record $97.5 million

Excelsior & Grand apartment and retail sell for record $97.5 million

The deal represents the highest price paid for a Twin Cities suburban housing project.
Home sales rose 6.7 percent in Twin Cities last month

Home sales rose 6.7 percent in Twin Cities last month

The kickoff to the spring housing market in the Twin Cities was unseasonably strong — especially for sellers. Inventory is very tight, but agents expect more sellers to emerge this month.

HomeServices of America expands insurance business with acquisition of PCG Agencies

The deal for St. Paul-based PCG will help HomeServices expand its insurance offerings nationwide.
Starter homes are in short supply across the Twin Cities

Starter homes are in short supply across the Twin Cities

Entry-level houses are the one big void in metro's residential rebound.

Apartment market continues to absorb new units

Despite thousands of new apartments in the Twin Cities metro area, the rental market has remained relatively stable, according to a year-end report released this…
New Lake of the Isles house to rise where city's largest once stood

New Lake of the Isles house to rise where city's largest once stood

The site once held the Gates Mansion. At 38,000 square feet, it was the largest house ever built in Minneapolis. The new structure will be 8,800 square feet.
Scandia man refines and reformulates until instant caulk product works

Scandia man refines and reformulates until instant caulk product works

Despite frustration and tragedy, a Scandia builder kept working on a distinctive caulk and finally broke through on QVC.

Twin Cities housing, commercial construction off to slower start this year

Two early-year reports showed drop-offs in residential and nonresidential building permits.
Minnesota foreclosures fell in 2015 to lowest level since 2005

Minnesota foreclosures fell in 2015 to lowest level since 2005

Rising home prices and a stable economy are keeping mortgage defaults at bay in Minnesota. The foreclosure rate statewide last year fell 13 percent to…
Experiment in upscale apartments comes to Lake Calhoun area

Experiment in upscale apartments comes to Lake Calhoun area

Lakeside living offers five-star custom-home-like amenities in larger rentals -- for a price.
January 2015: Twin Cities laundry service adds high-tech twist

January 2015: Twin Cities laundry service adds high-tech twist

Even the laundry business is being transformed by smartphones, software and entrepreneurs like Jeff Gardner.
Twin Cities home sales remained strong in January but pinched by tight supply

Twin Cities home sales remained strong in January but pinched by tight supply

Mortgage rates are still very low, but a continued dearth of listings is having a big impact on the market.
Lux decides on condos for 40-story tower at Washburn-McReavy site

Lux decides on condos for 40-story tower at Washburn-McReavy site

The decision comes after months of speculation about whether Lux would build apartments or condos on the site at 200 Central Av., now the location of a Washburn-McReavy funeral home.

Metro will get more affordable housing in 2016, but not enough

But number is still far short of metro-area demand, analysis says.
Residents start lining up Super Bowl, Ryder Cup renters

Residents start lining up Super Bowl, Ryder Cup renters

Across the metro area, ordinary homeowners are thinking about whether to cash in on the action of big-time events coming soon.
Hundreds of lots sit empty in N. Mpls. amid frenzy of demand

Hundreds of lots sit empty in N. Mpls. amid frenzy of demand

As housing demand soars, Minneapolis' North Side has many empty lots with few takers after teardowns are never rebuilt, contrasting starkly with booming construction in the rest of the city.
Twin Cities housing market in 2015 was best in a decade

Twin Cities housing market in 2015 was best in a decade

More homes changed hands in the Twin Cities last year than any other year in a decade, and the median price was just 4.5 percent below the all-time peak in 2006.
Minnesota Mortgage Association leader Brian Call on new rules, rising interest rates in 2016

Minnesota Mortgage Association leader Brian Call on new rules, rising interest rates in 2016

Brian Call, president of Rubicon Mortgage, steps into the role of president of the Minnesota Mortgage Association at a particularly challenging time for the industry.…
Homebuilding increased in the Twin Cities last year, but mostly for apartments

Homebuilding increased in the Twin Cities last year, but mostly for apartments

Twin Cities residential construction rose in 2015, fueled largely by rental demand
Twin Cities home prices posted a stronger year-over-year gain in October

Twin Cities home prices posted a stronger year-over-year gain in October

Twin Cities home prices continued to gain strength in October, according to data released Tuesday that underscored the likelihood that the market’s winter slowdown would…
At the top of Twin Cities real estate market, the selling isn't easy

At the top of Twin Cities real estate market, the selling isn't easy

At the market's exclusive level, houses that couldn't be replicated today are sitting unsold as well-to-do buyers seek technology over turrets and perfection over patina.
Warm winter means Twin Cities landlords are saving money (so far)

Warm winter means Twin Cities landlords are saving money (so far)

The savings, landlords say, will help them cope with double-digit increases in property assessments and a tight labor market that has driven up wages.
Research, speed pay off for architects putting stamp on Twin Cities

Research, speed pay off for architects putting stamp on Twin Cities

Elness Swenson Graham Architects Inc., simply called ESG, dominates the Twin Cities market in the design of new housing and hotels, and they shepherded dozens of difficult projects in historic districts in recent years.
Huge November for Twin Cities home sales

Huge November for Twin Cities home sales

Mild weather and low (for now) mortgage rates mean Twin Cities boom year is closing strong.
Apartment projects bring St. Anthony Park its 1st new housing in years

Apartment projects bring St. Anthony Park its 1st new housing in years

Construction to start soon on a 25-unit building, with a 50-unit senior cooperative also planned.

Hans Hagen, longtime Twin Cities homebuilder, sells company to Ohio-based M/I Homes

Ohio-based M/I Homes enters the market with the acquisition of Hans Hagen's namesake firm.
Twin Cities software developer starts StickyApps to enable photographers to become website developers

Twin Cities software developer starts StickyApps to enable photographers to become website developers

Local techie aids photographers in supplementing their income by becoming website builders

Weidner is interested in St. Louis Park apartment complex that's not yet built

Apartment giant has been on a Twin Cities property binge.
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