Recent content from Jim Buchta
Interest rate angst hasn't stopped Twin Cities homebuyers
Despite mortgage interest rates remaining high, the spring market is rife with listings and purchases.
As much of commercial real estate in Twin Cities struggles, med-tech flourishes
While office buildings from the suburbs to downtown Minneapolis struggle for survival, construction on more buildings in the life sciences sector is increasing, adding hundreds of thousands of square feet of labs, production space and research facilities to the Twin Cities.
Homeownership could cost you under $100,000 if you consider a manufactured home
Formerly called mobile homes, these types of dwellings could be a good bet for prospective buyers struggling with record home prices and rising rents.
![A home that was sold by realtor Terry Ahlstrom after multiple buyers bid on it in Richfield. ] LEILA NAVIDI ï leila.navidi@startribune.com BACKGR](https://arc.stimg.co/startribunemedia/2BU5ZPO3QFAS4FK2VWGVBH77WE.jpg?h=120&w=180&fit=crop&bg=999&crop=faces)
Edina Realty opens first Florida office to capitalize on Minnesotans who head south for winter
The brokerage has 75 locations throughout Minnesota and Wisconsin,
Minnesota real estate mogul Ralph Burnet dies at 78
Burnet's companies, including Coldwell Banker Burnet, helped change the way people buy and sell houses across the nation.
Twin Cities sees surprise influx of home listings as agent commission uncertainty looms
There are more sellers, but there are also more buyers, so competition is stiff and houses are selling quickly.
What does the national settlement on home commissions mean for the Twin Cities?
The National Association of Realtors settlement changes how commissions work, shocking the industry.
Apartment developers swarm Twin Cities suburbs as low housing inventory, high mortgages persist
With more than one-third of all new units hitting the southwest suburbs, that area could be one of few soft spots for rentals in 2024.
Middle-income buyers struggle to find a house in their budget in most Twin Cities suburbs
A Star Tribune analysis shows how much income a buyer would need to afford the median priced home in each city.
Inside the most expensive city in the metro: Wayzata
The most expensive city in the metro on the Star Tribune's Hot Housing Index sold for $394 per square foot last year.
These areas have the most, least expensive starter homes in the Twin Cities
Finding an entry-level home for $300,000 or less in the metro could lead you anywhere from an inner-ring suburb to an exurb to the city itself.
Move-up buyers with disposable income fueled the hottest Twin Cities housing markets
The index analyzed nearly 35,000 home sales and showed that many of the most popular neighborhoods catered to those looking for more space despite higher mortgage rates.
Where does your city rank in the Star Tribune Hot Housing Index?
With mortgage rates higher than in previous years, move-up buyers drove sales in the Twin Cities in 2023.
Lutsen Lodge was 'phenomenal legacy' of a top Minnesota architect
The more than 100-year-old resort was a touchstone on Lake Superior for many before fire destroyed it.
Hennepin County property tax collections are lowest in decades
When large commercial properties fail to pay their taxes, ordinary residents have to make up the difference to fund city, school and park services.
Ryan Cos. buying bulk of 263-acre former Thomson Reuters campus in Eagan
The builder and developer hasn't released details on its plans for the 179-acre parcel.
Twin Cities home sales down 18% last year, lowest in 20 years
New-build home sales were up but did not make up for the low inventory of previously sold homes.
How financing issues are stalling Twin Cities area apartment boom
Like office loans, apartment debt is short term, requiring borrowers to refinance or modify their debt every few years.
Twin Cities area home builders had a lackluster 2023
A steep and steady decline in apartment permits led the downswing this year.
Fed-fueled mortgage rates decline could break up Twin Cities real estate log jam
After the Federal Reserve Bank hinted at rate cuts in 2024, real estate experts think mortgage rates could follow suit and open up the housing market after a tight year.
A 24-hour Nicollet Mall? It's one idea to revamp downtown Minneapolis
A Minneapolis Foundation report offered several strategies for how to revitalize the traditional business district after the pandemic.
IDS Center owners negotiate loan extension amid tenuous downtown Mpls. office market
The agreement gives Florida-based Accesso more time to line up permanent financing several months after missing a balloon payment on the $151.7 million loan.
Survey finds widespread U.S. support for higher density to bring down housing costs
A recent Pew survey found that nearly nine in 10 said they would back efforts to expedite permitting processes, while about half support policies that allow builders to construct smaller lots and homes closer together.
Minneapolis Fed survey predicts tough times ahead for commercial and residential developers
The outlook is worst for homebuilders in the Fed's six-state region, who are concerned that new work may soon run out.
A bump in Twin Cities home building reflects buyers' appetite
Despite a late-season increase in home building, residential construction in the Twin Cities has been the slowest in at least five years.
Why townhomes are the star of Twin Cities area housing market
Townhouses account for upwards of a quarter to a third of all new housing for some Twin Cities area builders.
Can't buy a house because you don't have a down payment? Help is on the way.
Freddie Mac recently launched DPA One, a website that connects buyers with dozens of down payment assistance programs in 48 states.
With expiring leases and scarce financing, angst grows for Twin Cities office building owners
Though office workers are steadily returning to their desks, there's growing unease across the metro about what will happen when billions of dollars in loans soon come due.
Twin Cities home sales continue to dwindle, and prices continue to rise
Mortgage rates are ticking down and the decline in newly listed houses is shrinking, though.
Apartment vacancy rate falls in downtown Minneapolis, rises in suburbs
The suburbs, especially those along the west edge of the metro, have seen a surge in construction, while construction in the urban core has slowed.
U.S. Bank recommits to downtown Minneapolis amid record office vacancies
The Minneapolis-based bank signed another long-term lease for its headquarters in its namesake tower along Nicollet Mall and will move hundreds of workers downtown after vacating leased space in Richfield.
One reason home buyers shouldn't give up hope this fall
New data suggests the overall housing market churn is slowing in the Twin Cities and across Minnesota.
Twin Cities area office vacancies rising even as employees return to in-person work
The metro market is like a game of musical chairs, with companies downsizing space while upgrading amenities.
Mortgage rates hit 23-year high, but that's not stopping Twin Cities homebuilding
Twin Cities builders had their best September in nearly two decades.
West Coast investor on apartment buying spree in Minneapolis
Higher mortgage rates are stifling commercial real estate values, and sales, but Weidner Apartment Homes is investing heavily in Minneapolis.
German company plans new office building in Bloomington amid vacancies
New office development in the Twin Cities has been virtually nonexistent, as the average vacancy rate in many suburbs hovers near all-time highs.
Can't afford higher mortgage rate but outgrowing current home? Try these house projects
Many homeowners are now reinventing their homes rather than trading up to a different one and a much higher mortgage rate.
Twin Cities housing stock sinks on higher rates, but prices keep climbing
Home sales for August were down 12% year-over-year.
Two from Twin Cities, both 23, die in St. Louis County crash; driver hospitalized
The crash happened early Saturday on a curve on Hwy. 8, about 45 miles west of Duluth near Floodwood.
Luxury apartment tower in downtown Mpls. sells for $70M
Upon opening in 2014, the property was the first new first high-rise luxury apartment development in downtown Minneapolis in nearly 30 years.
High mortgage rates aren't stalling Twin Cities area home building
On Thursday, Freddie Mac's weekly survey showed the 30-year fixed-rate mortgage averaged 7.18%.
Developer United Properties sells former HQ in Gaviidae Common on Nicollet Mall
The deal came one week after the $225 million office sale in the new RBC Gateway tower on Nicollet Mall, which United Properties also developed.
New Twin Cities construction means that fall will be a good time to rent an apartment
Increased options should make for more deals in parts of the metro area.
Twin Cities area home prices hold steady despite dwindling listings
Most houses are still selling quickly and for more than the asking price.
Why downtown is Minneapolis' fastest growing neighborhood
Office towers still dominate the Minneapolis skyline, but the spotlight downtown is now on housing.
Single-family construction rises in Twin Cities as builders look to increase starter home supply
Builders pulled 446 single-family home permits during July, a 38% increase from last year.
High-profile Mpls. offices sell for $225M amid 'flight to quality'
The sale of 16 floors of the nearly new tower — which also houses the Four Seasons hotel, restaurants and condos — is one of the biggest office sales in the nation this year.
High interest rates chill Twin Cities area housing market
New home listings are plunging as higher mortgage payments scare off move-up buyers, who don't want to pay double the interest of their current rate.
'Grandfriends' welcome: New senior living developments aren't just for seniors
More developers are embracing the idea of giving older adults opportunities to interact with those outside of their age range.
Person rescues child, is treated for burns after house fire
The fire destroyed the house, which is 37 miles southwest of Duluth.
One man dead after a rollover crash north of Fargo, N.D.
A 24-year-old driver was killed after being thrown onto the highway and struck by another vehicle.
One person dead after fleeing car collides with minivan in Robbinsdale
Two people were injured, including the driver of the fleeing vehicle.
Thomson Reuters chooses new downsized office, just 4 miles from old Eagan space
The company will now be adjacent to the Minnesota Vikings' TCO Performance Center.
LaSalle Plaza in downtown Minneapolis sold for about one-fifth of cost to build it
Twin Cities-based Hempel Real Estate bought the tower and plan to add many amenities, including an indoor pickleball court and a private car service.
Changing downtown Minneapolis is at a crossroads
Nearly a third of all downtown office space is dark, a rate not seen in decades and even outpacing the financial woes following the dot-com bubble and the Great Recession.
Home prices in the Twin Cities fell slightly in May, but sellers still made bank
Pending home sales were down, causing prices to decline a bit.
Staging your home can sell it quicker and for more. Here's how to hire a pro
Even though it's still technically a seller's market in the Twin Cities, staging your home for sale might still be a worthwhile investment.
Is this the end of Minneapolis and St. Paul population boom?
The urban core swelled in the 2010s, but two new sets of population estimates indicate that growth in the Twin Cities is slowing down.
Minneapolis floats new vision for downtown's Nicollet Mall
No buses and looser liquor rules were among the recommendations put forth by a task force of advisers that Minneapolis Mayor Jacob Frey assembled.
Twin Cities area homebuilding decline slows while apartment construction falls
Builders pulled enough permits to build 487 single-family homes, 13% fewer than last year.
Is it finally a good time to be a first-time homebuyer in the Twin Cities?
The Legislature recently approved a $150 million housing-assistance package aimed at helping thousands of first-generation homebuyers.
Home sales and listings declined, so Twin Cities buyers still pay above asking
During April, the median price of all closings was $367,500, a nearly 4% increase from the previous month but a 0.7% decline compared with last year.
Twin Cities home builders keep retreating, wary of overstock
In April, builders received enough permits to build 386 single-family houses, 38% fewer than last year. Apartment construction was down even more dramatically.
Spring could be a turning point in Minnesota housing market
For the first time in more than a decade, many builders are offering discounts and deals ranging from price reductions to appliance upgrades in an effort to offload inventory.
KPMG leaving Wells Fargo Center for North Loop, downsizing space
The accounting firm is the latest business to leave the core of downtown and downsize space.
U.S. Supreme Court sides with Mall of America in lease battle over former Sears space
The ruling allows the mall's owners to continue to legally challenge a holding company's $10-a-year lease for the empty space.
Jostens in Bloomington is latest company to downsize office space
Jostens will sublease two of its three floors of headquarters space in a Bloomington building.
Wells Fargo closing home mortgage campus in south Mpls.
The company also will exit its Metropoint offices in St. Louis Park and relocate workers to downtown Minneapolis and Shoreview.
Twin Cities home sales, prices down slightly during March
Buyers signed 3,767 purchase agreements across the metro, a 28% increase from the previous month but a 28% decline compared with last year.
Think your property tax assessment is too high? Here's what to do
With double-digit gains in home prices — and tax levies changing — many homeowners are confused with changes in their assessments.
AT&T leaving namesake downtown Mpls. tower for suburban facility
The telecommunications company said it's moving operations from the 34-story building on Marquette Avenue to a location in Bloomington.
Home building in the Twin Cities plummeted during March
Higher mortgage payments could be one reason why there are fewer building permits this month.
New 27-story apartment tower coming to Minneapolis skyline
About half the apartments will be income-restricted.
First-time homebuyer? Tips to help you land the perfect place
Finding a trusted real estate agent, meeting with a loan officer and knowing what you want are just a few ways to ease stress when looking for a home.
