I’m not an agent, but I have been working on webigs.com for over a year now as a Developer. From what I’ve seen I feel fairly comfortable shooting my mouth (blog) off saying that the Twin Cities is not a Buyer’s market, or a real Seller’s Market.
I say this because the repo houses are dragging the aggregate numbers down and scaring sellers into lower prices, that are probably more in tune with prevailing wages. At the same time the Repo twisted numbers are causing buyers to make low ball offers and / or be unnecessarily nervous because of the uncertainty in the market.
From the data I see, and my experiences in multiple failed attempts at purchasing a home, decent well built houses at a fair price will sell fairly quickly to people who intend to live in the house.
Where the market gets really interesting is the opportunity to invest in real estate. Right now I think a lot of money has been scared out of the market, and the inventory of Bank Owned houses that that will take some work and 3 months of messing around is up. These barriers to entry are not unacceptable to someone who has bought and sold residential properties before. The upsides are the lower prices for Bank or Corporate owned prices and the good market for good houses.
My advice, for what little it’s worth, is if you’re an investor now is the time to put money into Real Estate. If you’re a home buyer, don’t think you’re going to get some amazing deal, but expect a fair deal. If your selling well the times are not as outstanding as they were, but they’re still pretty darn good.
Whatever you do use Webdigs.com and get 2/3 of the buyers agent commission back, or if your selling a easy flat fee of $2000. It’s hard to screw up when you’re saving that much to start with and you have a whole team of experienced agents working with you the whole way.