Enough Doom and Gloom about the Real Estate Market!


We keep hearing again and again how the market has tanked this year. The truth is - this is the third biggest year in the history of real estate. Have things slowed down? Absolutely. It has definitely shifted to a buyers market, but that can mean a great opportunity for a buyer looking for a first home. Even a seller could come out well ahead if they are looking to upgrade. The money saved on a discounted new house could make up for any reduced profit earned on the sale of a current home.

"The National Association of Realtors is forecasting 6.5 million existing-home sales this year. Even if existing home sales were in the 6.3 to 6.4 million range, 2006 would still be considered a good year by most standards. It is only by comparison to the overheated, blistering pace of 2005 that those numbers seem low."*

House of the week This was the smallest Minneapolis house I could find online

*Ron Peltier, President and CEO of Minneapolis-based HomeServices of America, Inc.