Staff Directory 10644536

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
Two condo towers could rise across from Southdale, Galleria in Edina

Two condo towers could rise across from Southdale, Galleria in Edina

The 20- and 24-story towers will transform the look of France Avenue near Southdale.
Equity-strapped sellers keep starter homes in short supply

Equity-strapped sellers keep starter homes in short supply

More than 20 percent of metro homeowners who have a mortgage wouldn't clear enough money in a sale to cover real estate commissions and other selling costs and to make a down payment on another home, according to a Star Tribune analysis.
Find out whether lack of home equity is a problem where you live

Find out whether lack of home equity is a problem where you live

More than 20 percent of Twin Cities mortgaged homeowners don't have enough equity to cover the cost of selling and moving up, stifling house listings.
Tight supply continues to hamper Twin Cities home sales

Tight supply continues to hamper Twin Cities home sales

April listings drop 8.3 percent, heating up competition and boosting prices.
Edina Realty picks new president from within

Edina Realty picks new president from within

Twin Cities-based Edina Realty has a new president: Sharry Schmid, who takes over for Barb Jandric, who retired after 34 years at the company.

Legislature's changes to construction-defect laws could help condo developers

Several much-anticipated changes to Minnesota’s construction-defect laws are closer to the governor’s pen. The amendments to House File 1538 received bipartisan support and went to…
State's oldest comic store will relocate to make way for new apartments

State's oldest comic store will relocate to make way for new apartments

The popular store has been in the Uptown area since 1974.
New housing being built in Twin Cities at fastest rate in more than a decade

New housing being built in Twin Cities at fastest rate in more than a decade

But it's not enough to satisfy demand in some part of the region.
Denver developer closes in on 8-story tower near Lake Calhoun

Denver developer closes in on 8-story tower near Lake Calhoun

Its effort to demolish a 1950s office building on the lake's north side to build a 200-unit residential tower moves forward.

Deals for vacation homes took a big dip last year

Vacation home buyers hit pause in 2016 while real estate investors turned up the volume. That is according to a just-released survey of second-home and…
March home sales in the Twin Cities were the best since 2005

March home sales in the Twin Cities were the best since 2005

But the boom might fade because too few are currently on the market, especially entry-level homes.

Real estate notebook: Top real estate brokages in Minnesota, according to Real Trends

Real Trends released its latest rankings of brokerages across the U.S., which is based on data from a voluntary survey.

Just Listed: Two senior housing projects move forward

With the leading edge of the baby boomer generation easing into retirement, senior rental projects are on the upswing in the Twin Cities.
Virtual reality expected to shake up future of real estate

Virtual reality expected to shake up future of real estate

The technology has gone down in price and is now easier to use, buyers and their agents aren't as afraid of technology as in past years, and real estate markets are more global than ever.

HomeServices of America boosts its East Coast presence with purchase of N.J. real estate firm

Twin Cities-based HomeServices of America is expanding its East Coast holdings with the acquisition of Gloria Nilson & Co. Real Estate in New Jersey.
Twin Cities homebuilders having best spring in 10 years

Twin Cities homebuilders having best spring in 10 years

Housing construction in the Twin Cities metro soared in March to its best numbers in at least a decade, the Builders Association of the Twin Cities said Friday.
Elevage plan brings upscale apartments, townhouses to Shoreview

Elevage plan brings upscale apartments, townhouses to Shoreview

Elevage Development Group of Blaine is building a $40 million mixed-use project in Shoreview that will bring upscale apartments and townhouses to a part of…
Builder of 40-story condo scores one court win, but judge still considering height issue

Builder of 40-story condo scores one court win, but judge still considering height issue

Neighbors say the Alatus project is too tall. A judge will decide April 19.
Edina mansion that belonged to Kirby Puckett has been sold for $1.57M

Edina mansion that belonged to Kirby Puckett has been sold for $1.57M

The late Twins star's home has five bedrooms and seven bathrooms.
Robin Peterson retiring as president of Coldwell Banker Burnet in Twin Cities

Robin Peterson retiring as president of Coldwell Banker Burnet in Twin Cities

She is winding down her 40-year career and will retire from Coldwell Banker Burnet.
Unlikely new hot spots in Twin Cities housing market

Unlikely new hot spots in Twin Cities housing market

Affordable areas near urban amenities are in demand – like Richfield.
Find the hot housing markets in the Twin Cities

Find the hot housing markets in the Twin Cities

Are you living in a hot housing market? To find out, the Star Tribune’s housing market index combines four key housing metrics for cities with…
Workforce housing planned for Mpls. half block once offered for $5M on Craigslist

Workforce housing planned for Mpls. half block once offered for $5M on Craigslist

In 2013, a Twin Cities landowner posted a Craigslist ad for a half block that fetched considerable attention, in part because of its $5 million asking price. It's finally being sold.
With fewer homes coming on the market, sales leveled out in Twin Cities last month

With fewer homes coming on the market, sales leveled out in Twin Cities last month

Investor-owned rentals are having an effect.
High land prices pose threat to homebuilders

High land prices pose threat to homebuilders

It’s a common complaint among Twin Cities-area developers: New homes in the Twin Cities cost a lot because of high land, labor and permitting fees.…
A lakeside mansion in Orono, owned by Pillsbury descendants, sells for $5.1 million

A lakeside mansion in Orono, owned by Pillsbury descendants, sells for $5.1 million

The deal happened before the house was publicly listed.
Twin Cities home permits rise, but listings remain low

Twin Cities home permits rise, but listings remain low

After solid February numbers, builders optimistic for big year.

Owner of Calhoun Beach Club, Loring Towers tries to stop Airbnb

The owner of two prominent Minneapolis apartment buildings has filed a lawsuit against Airbnb, the short-term rental company that is helping transform the way people…
Mattamy will close its homebuilding unit in Twin Cities

Mattamy will close its homebuilding unit in Twin Cities

Mattamy's local assets will be purchased by CalAtlantic and M/I.
Apartment construction hits Twin Cities peak since the 1980s

Apartment construction hits Twin Cities peak since the 1980s

Nearly all of it will be in upscale buildings in the suburbs, where there's been little new apartment construction since the 1980s. Only 1 in 10 will be for low-income renters.
New listings up in January, but Twin Cities housing market still tight

New listings up in January, but Twin Cities housing market still tight

Despite a healthy uptick in homes coming on the market, the inventory is the lowest in 14 years.
How a real estate attorney cut the check out of the first step in home buying

How a real estate attorney cut the check out of the first step in home buying

A new company aims to tackle one of the final steps of the home-buying process that can't be completed electronically
Twin Cities homebuilding permits shot up 25 percent in January

Twin Cities homebuilding permits shot up 25 percent in January

The best January in a decade starts the foundation for a strong 2017.

2016 was third biggest year for home sales in Twin Cities

A 2.6 percent gain in December closes a year of extremes.
For Twin Cities home buyers this year, what matters most is speed

For Twin Cities home buyers this year, what matters most is speed

In 2016, the median time that a house was on the market in the metro was a mere 33 days, according to the Minneapolis Area Association of Realtors, and that figure is likely to fall to just a month this year.
Developer sees apartments and grocery near light rail in south Minneapolis

Developer sees apartments and grocery near light rail in south Minneapolis

South Minneapolis could get a grocery store it needs. Oppidan Investment Co. has proposed building a mixed-use development at 46th Street and Hiawatha Avenue that…
Dick Brustad, developer who converted Mill District and built affordable housing for decades, dies at 75

Dick Brustad, developer who converted Mill District and built affordable housing for decades, dies at 75

Brustad, who led several public and private housing entities during his career, died of a heart attack on Jan. 3.
North Minneapolis neighborhoods are tops for hot housing markets

North Minneapolis neighborhoods are tops for hot housing markets

Neighborhoods once dogged by foreclosures are seeing properties sell quickly and above listing price.
Small condo project in Wayzata adds to the trickle in Twin Cities

Small condo project in Wayzata adds to the trickle in Twin Cities

The 21-unit luxury building near Lake Minnetonka bolsters the number of for-sale condos.
Twin Cities area is no renter's market, but it will start to tilt that way

Twin Cities area is no renter's market, but it will start to tilt that way

Developers shift attention to suburbs after flooding areas around the University of Minnesota and Uptown with new units.
Alatus riverfront condo tower is delayed by trial

Alatus riverfront condo tower is delayed by trial

A luxury riverfront condo tower in Minneapolis is facing another delay. Alatus LLC has been working on plans to build a 42-story condo tower overlooking…
Building permits for new homes rose 11 percent in the Twin Cities this year

Building permits for new homes rose 11 percent in the Twin Cities this year

2016 was the best year in a decade for new houses in Twin Cities.
Edina Realty remade its website for mobile shoppers

Edina Realty remade its website for mobile shoppers

After nearly two years of work, Edina Realty's new website gives home shoppers the same experience on any device. It lets them look for homes by lifestyle as well as location.
Pending home sales rose 9 percent in November as availability falls

Pending home sales rose 9 percent in November as availability falls

December also looks strong, with agents busy with closings to the end of the year.
Developer eyes spot near Lake Calhoun for 13-story tower

Developer eyes spot near Lake Calhoun for 13-story tower

Developer unveils three options, with an aim to be "cognizant" of neighbors, scenery and urban design.

Uptown apartment complex to get Aldi

Uptown neighborhood apartment complex to get Aldi, not Trader Joe’s A much-coveted site in south Minneapolis will get 77 apartments atop a 20,000-square-foot Aldi store…
Freddie Mac steps in to help nonprofit investors preserve affordable housing

Freddie Mac steps in to help nonprofit investors preserve affordable housing

As the Twin Cities market struggles, Freddie Mac is helping CommonBond.
Prince properties in Chanhassen are hitting the market and going fast

Prince properties in Chanhassen are hitting the market and going fast

Several of late star's properties now for sale are drawing fast interest.
Homebuilding permits remain strong in Twin Cities in November

Homebuilding permits remain strong in Twin Cities in November

Permits for overall construction rose 15 percent, and those for single-family homes jumped 20 percent.

Bergerud plans apartment and retail project in North Loop

Neighborhood advocates say the North Loop needs convenience retail and other services.
Apartments for men coming out of prison planned for North Loop

Apartments for men coming out of prison planned for North Loop

Beacon Interfaith Housing Collaborative recently received funding to build a $14.1 million rental apartment building to be home to 72.
Mpls. park board seeks developer for land along the Mississippi

Mpls. park board seeks developer for land along the Mississippi

Wanted: A developer willing to help close a key gap along the Mississippi Riverfront.That firm must be willing to work with the Minneapolis Park and…
Twin Cities real estate pinchpoint: Few low-priced homes being built

Twin Cities real estate pinchpoint: Few low-priced homes being built

Lack of houses at less than $250K pinch first-time buyers and downsizers.

Just Listed: Hillcrest sells renovated food-production plant in St. Louis Park

Two years after paying $3.5 million for a former Nestlé Ovaltine factory in St. Louis Park, Twin Cities-based Hillcrest Development sold the bulk of the…
Twin Cities home sales rose again in October, and supply tightened even further

Twin Cities home sales rose again in October, and supply tightened even further

Agents say dwindling inventory and rising rates are continuing concerns.
Global investors are snapping up cheap homes in Twin Cities

Global investors are snapping up cheap homes in Twin Cities

Buyers from across the globe are gobbling up small houses in the Twin Cities, which has helped drive the supply of affordable house listings to the lowest level in a generation
Apartment demand, rents stay strong in Twin Cities

Apartment demand, rents stay strong in Twin Cities

Demand for rental apartments in the Twin Cities metro continues to defy expectations. Across the 13-county metro, the average vacancy rate declined to 2.5 percent…
Developer proposes 'urban' apartments in Minnetonka

Developer proposes 'urban' apartments in Minnetonka

LeCesse Development Corporation told the Minnetonka City Council on Thursday night that it wants to build a 322-unit apartment complex that would replace a pair…
Doran Cos. hires Stenman, leader in U.S. Bank Stadium project, as chief executive

Doran Cos. hires Stenman, leader in U.S. Bank Stadium project, as chief executive

He helped build U.S. Bank Stadium and will succeed the company founder.
New homes are rising faster in the Twin Cities than usual, defying the seasonal slowdown

New homes are rising faster in the Twin Cities than usual, defying the seasonal slowdown

Construction firms are enjoying a busy year for apartments and single-family homes.
Obituary: Alan Anderson, longtime owner of Anderson's China

Obituary: Alan Anderson, longtime owner of Anderson's China

Alan Anderson lived in a world of elegance and sparkles but always tried to stay grounded and dwell in simplicity. Anderson ran three Anderson’s…
New businesses emerge to make beautiful photos to help sell homes

New businesses emerge to make beautiful photos to help sell homes

In the age of social media and online shopping, photos are the main way to attract home buyers.

Another deal in Prospect Park holds promise of more apartments near U

A fallow building site on the edge of the University of Minnesota has a new owner. Richfield-based Cornerstone Group sold a 2.4-acre site at 2901…
Seasonal slowdown begins in Twin Cities real estate, but September home sales beat last year

Seasonal slowdown begins in Twin Cities real estate, but September home sales beat last year

The year's peak has been passed but sales activity continues to be stronger than 2015
Luxury apartment project is turning point for Elliot Park in downtown Minneapolis

Luxury apartment project is turning point for Elliot Park in downtown Minneapolis

Construction started this week on a 17-story apartment building by Kraus-Anderson in a slice of downtown long dominated by asphalt parking lots and low-income rentals.

Real estate notebook: Apartment market frenzy raises need for low-income alternatives

The Minnesota Housing Partnership, a nonprofit focused on affordable housing, recently released a report showing that there was a 165 percent increase in sales of…
Mpls. developer plans 16-story apartment tower in Dinkytown

Mpls. developer plans 16-story apartment tower in Dinkytown

The proposal comes at a particularly sensitive time for the Marcy-Holmes neighborhood, which until recently has managed to avoid much of the high-density, high-rise development that's happening elsewhere in the city.
Developers eye more parking for new North Loop office tower

Developers eye more parking for new North Loop office tower

A 10-story building could have half of its above-ground space for cars.
Single-family homes take a big jump in September construction

Single-family homes take a big jump in September construction

A big shift in the balance of construction activity is gaining speed.
Schafer Richardson to buy St. Paul apartment site for nearly $3M

Schafer Richardson to buy St. Paul apartment site for nearly $3M

SR Development LLC, an entity related to Minneapolis-based Schafer Richardson, has agreed to pay $2.96 million for a 1.31-acre site in St. Paul for its…
Home-building trails job growth, skewing market, realtors say

Home-building trails job growth, skewing market, realtors say

The Twin Cities is the 16th-most undersupplied housing market in the nation, according to new report.
New apartment project along Midtown Greenway clears last approval

New apartment project along Midtown Greenway clears last approval

The 111-unit building will include a new path to the south Minneapolis corridor.
Business is coming back for Minnesota's fractional real estate industry

Business is coming back for Minnesota's fractional real estate industry

Fractional ownership is a concept that's akin to a timeshare, but often comes with deeded ownership.
Little sign of seasonal slowdown in Twin Cities home sales

Little sign of seasonal slowdown in Twin Cities home sales

Sellers continue to be in control, at least for entry-level homes, as a tight inventory helps keep prices high.
Prospect Park gets its biggest commercial development yet, an apartment-retail complex

Prospect Park gets its biggest commercial development yet, an apartment-retail complex

The 13-story retail, apartment tower near the Green Line will have a Fresh Thyme grocery.
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