Minneapolis, MN Real Estate News

By Lisa Dunn, www.TwinCitySeller.com
(Edina Realty)
Selling a home in Minneapolis?  You're required to have a city-approved inspector conduct a Truth in Housing inspection, and they will charge you at least $175 to do it.  They claim it is to "improve the housing stock" in Minneapolis. I say it's a bunch of Hooey. If Minneapolis wanted to improve the housing stock, they would perform actual inspections of homes prior to establishing an "estimated market value" which is how our property taxes are assessed. These inspections would be on a regular basis of each and every home in the city, not just on those that are being put on the market. As it stands today, one of the most common required repairs is for the home owner to place a backflow preventer and all outside spickets and the laundry tub.  Now, if the city of Minneapolis were really t...
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By Lisa Dunn, www.TwinCitySeller.com
(Edina Realty)
What 16.9 Million will get you in the Twin Cities. The most expensive listing today in Minneapolis.  Dunrovin is a property located on Lake Minnetonka. It boasts 4 bedrooms, 10 bathrooms, 10 fireplaces and 7 garages. The lot has over 300 feet of lakeshore, and is surrounded by a nature reserve. 13, 837 finished square feet.                    
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By Terry Moravec
(Keller Williams Premier Realty)
Th city of Minneapolis just announced it has chosen US internet, a local company, to set up and run a city-wide WiFi network. The city is paying $2 million up front and expects to charge residents $20 per month for access. While I'm not opposed to wide-spread cheap access to the internet, I wonder if this is the best way. Wifi was not designed to cover an area as large as a city, and with the short range of the signals (300 feet or so, but less than 100 for a full speed connection), it seems like it would take an awful lot of transceivers to cover the city, and most of them would be unused. They could, however cause a lot of interference with other devices in the same frequency range. Other wireless networks, cordless phones, baby monitors, and bluetooth networks all use the same unlice...
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By Terry Moravec
(Keller Williams Premier Realty)
There's a lot of talk these days about a "slow" real estate market, a "buyer's market", real estate "bubbles", etc. Clearly the Twin Cities real estate market has backed off the torrid pace of the last few years. That's a good thing. Ten to fifteen percent annual appreciation is unsustainable, and would have eventually led to downward pressure on home prices. The market has simply cooled to a more normal rate as higher home prices and interest rates have dampened the bidding wars we have seen from home buyers in the recent past. As sellers slowly adjust to the changing market, homes are beginning to be priced more in line with the current reality instead of the previous expectations of high appreciation and quick sales. What does this mean for sellers? Homes are selling, but there is a ...
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