Friday, January 4, 2008

So much for nobody wanting homes over north

Yes yes, I knowwwwwww, if you read the Strib or surf the web or talk to just about ANYBODY on the street on a given day about real estate, I KNOW they will mention the foreclosure rates in North Minneapolis.

Yes yes, mm-hmm. Indeed.

We've all heard... From Old Highland to Victory; from Willard-Homewood to Webber Park, there's a bootload of inventory, and price has crashed like some overweight ice-dam in a torrential spring rain. We've seen the google-maps, with their bazillion merging red dots.

But wait - let me tell you something you may not know:

In the past couple of months, I've gone shopping with several buyers in North Minneapolis. While we found the very inventory we expected, we also found something else: fierce competition.

Ye gads!

You mean somebody ELSE actually wants these homes? Not just us crazies?

You bet.

In fact, in the past week and a half, one particular buyer of mine (bless her poor, disheartened soul) has encountered multiple offer situations on no less than FOUR CONSECUTIVE HOMES on which we've written offers.


Bad luck?

I think not. In fact, I think that as aggravating as this may be for my clients, it actually points to something very GOOD.

I think we're on the rebound...


Aimee said...

Let's hope it is a rebound and one that will spread to the rest of the country! :)

carol.cooper said...

The pendulum always swings back the other way. When the prices get low enough the buyers come in droves.