Jeremy Skogquist’s Blog

New Pendings and Sales are staying strong this month.   The momentum is growing stronger and stronger every month!!

Remember housing markets are localized, don’t let the national numbers you hear from the media distort what is happening here close to home.  Also what about those interest rates…around 5% for a 30 year fixed rate!!!  That is great comparing to when they used to be over 10%.  Take advantage of the BEST  interest rates in history!

NIH Homes is proud to present “The Medford II” in a neighborhood that you will enjoy!  With all the help from you, we have taken your feedback to turn this home into a 10+!  From the Entertaining areas to Storage areas this home is equipped to not only save you time, but save you a lot of money as well!  Come and visit with us on Thursday Feb. 4 2010 from 4-8pm, and enjoy a glass of wine and munch on some appetizers! It’s in the Prominence Creek development. 6369 Merrimac Ln N. Maple Grove, MN 55311. Click here to see Prominence Creek, http://www.nihhomes.com/location.aspx?location=Prominence%20creek

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What is going on at the end of 2009 in the 13 county Twin City housing market?

Comparing stats to last year at this time, the days on market average has dropped by 8 days.  The active listings are down by 18% and the pending sales are only down by 2.5%.  The supply & demand ratio is at 9 homes per buyer.  This is down by 3 homes.  Last year at this time it was 12 homes per buyer. 

So all in all, the market is holding strong.  There’s plenty of affordable inventory and according to these numbers, there are plenty of buyers as well. 

We predict these stable numbers will continue into next year.  The interest rates have continued to ride in the $4.5%-5% range for quite some time.  They are not predicted to climb yet for awhile.

Why not make 2010 the year to make that big move?  Now is the time to get in on the steals & smokin’ deals!  Or how about planning for a brand new contruction build?  Now is the time for building your dream home.  It take a few months of planning, so let’s get started today!  Contact us a NIH Homes.  We can help you make the very important decisions for your future home ownership.

www.NIHhomes.com

jeremynihhomes@msn.com

NIH Homes is proud to sponsor “A day for Women”

 Come out and pamper yourself and find Christmas gifts

 in a fun and relaxing environment!

*Refreshments will be provided

 When:

 Sat. Dec 12th  from 10-2pm

All your favorites will be there!

 Arbonne, Lia Sophia, Mary Kay, Norwex, Pampered Chef, Party Lite, Premier Design, Tastefully Simple,  & Wild Tree

Place:

NIH Homes Model - 6273 Jewel Lane, Maple Grove, MN. 55311

in Sunset Ridge Farms

LINK:  http://www.nihhomes.com/location.aspx?location=Sunset%20Ridge%20Farms

We are in luck!  Santa Clause called and wants to see NIH Home’s BEAUTIFUL Concord Model in Maple Grove.  What fun!!  So…don’t waste your time waiting in line at the local mall, stop out and visit us in Sunset Ridge Farms, located in Maple Grove.  http://www.nihhomes.com/location.aspx?location=Sunset%20Ridge%20Farms

Bring your friends, family members and any neighbors that would like to take a picture with Santa, sit on his lap and tell him what you want for Christmas. Click http://www.womancentricmn.com/blog/?cat=7  for all the details on the date, time and location.  We will in-turn send you the pictures so you can print them on your postcard of choice and mail them out for the Holidays!

Christmas treats and beverages will be available for everyone.  So come on out and enjoy the Holiday festivities with NIH Homes!

The housing market in the Twin Cities & surrounding area of MN is still showing decent signs of stability & recovery.  Let’s keep it moving in the right direction.  The interest rates will really be the deciding factor, I believe.  And so far, so good.  For every loan type, they are still 5% & under every day. 

We expect a slow down during the Holidays which is normal for the season.  Don’t let that stop anyone from taking advantage now while we KNOW it’s a good time to buy.  If you can afford to sell…let’s DO IT!  One good thing will be your competition will drop during the holiday season & winter months.  It’s not a bad thing to be the only nice house available to buyers wanting their tax credits.  For buyers, keep shopping and zero in on the deal you’ve been dreaming of. Or get going with the planning of your dream in a new construction.  Now is the time!

I’m sure we’ve all heard rumor of this.  And it has come to be.  What does this mean? 

It means that the 1st home buyer tax credit of $8,000 is now available for those under contract by the end of April 2010 and will close on a property no later than the end of June.  Since the foreclosure inventory is still coming on the market and will for some time, this extension is a good thing.  It’s been helping soak up that extra inventory.  We need this help for a little longer.

Not only has the tax credit been extended, but its also been expanded.  It now expands to “repeat” buyers.  As long as someone has owned their current home for 5 years, they can get a credit of $6,500 with the same time frame limits as the 1st home credit. 

Will this help?  We are hoping so!  It could have some adverse effects if the market gets flooded with sellers trying to sell & secure a purchase before the new deadline.  But it seems a good thing to soak up that “move-up” inventory that has been a struggle this past year or so.  It could also help the new construction market.

One drawback could be the prediction of the interest rates starting to climb.  This could limit many buyers from acting even with the promised credits.  A buyer’s monthly payments can go up substantially depending on the interest rate they have to lock into.  Let’s hope for a SLOW climb if this is the direction they are going.

For the week ending Oct. 17th, there were 954 signed purchase agreements in the 13 county area of the Twin Cities.  This number is up by 54.4% from last year at this time. 2/3 of these were priced under $190k. This is a clear indicator that the 1st home buyer tax credit is what gave us this boost. 

What happens after the deadline of November 30th?  We no doubt will experience a significant down turn in the housing market. Not only due to the deadline having passed, but also due to the winter months ahead.  However, another factor to consider is the interest rates.  They are still hovering around the 5% mark.  Due to this, I believe prices and activity will level and it will still be a great time to be a part of the housing market, whether you’re a seller considering another purchase or a 1st home buyer.

I’m hearing predictions stating increases of the interest rates in the near future.  The foreclosure market is still in full force for the next year or two.  Mix that with higher interest rates, the market is sure to slow to an uncomfortable rate again like we experienced in 2008.   

How do you make decisions for your future home ownership?  An experienced and educated realtor is the key.

http://www.skogquistteam.com

http://www.NIHhomes.com

Well well, the market has shown good numbers lately.  In the 13 county area of the Twin Cities, pending sales is up 22% from last year at this time.  The interest rates are still hanging in there at around a low 4.75%.  The homes on the market per buyer has dropped to 6.5%.  Not too bad!

We’re expecting the numbers to change in the couple of months.  If the tax credit for 1st home buyers isn’t extended, the buyer numbers are sure to drop.  But we look forward to spring and the new selling season.  I’m sure these numbers will pick up again in the the next year.

If there’s any chance of a buyer wanting to start the new construction process, now is the time to get going with planning & figuring out the details.  Just log in to www.NIHhomes.com and we look forward to helping you make these important decisions for your future home ownership.

Just one weekend left to get out and tour what’s on Parade this fall.  We can help you plan your own personal tour.  Just click

http://www.paradeofhomes.org/parade-home/parade-home.aspx?id=1700922

What’s happening after that?  We’ve been talking so much about the buyers in this market today.  What does the seller have to look forward to?  I think this next month of October has a unique opportunity for sellers.  Since the forclosure inventory is down and the 1st home buyers are frantically trying to get a closing by the end of November, your home might be the one they’d settle on.  Working with a “traditional” seller is like a breath of fresh air to buyers today.  They may be willing to spend in a little higher market if they can be guaranteed a closing within the $8,000 tax credit deadline timeframe.

You as a seller may need to consider some interum housing arrangements like renting, but it may be well worth it in the end.  The deals aren’t going to end any time soon.  It would also give plenty of time to get the home of your dreams built for you. So get your home sold while the opportunity is here and then start shopping!

We can help you make all these important decisions.  www.NIHhomes.com

Now’s the time to get out and check what’s new in the housing market, get ideas, learn, get help in making decisions and most importantly, HAVE FUN!  The weather has been out of this world gorgeous and we are seeing the result of that by the traffic out touring homes during this season’s Parade Of Homes.  It only lasts until Oct. 4th, so you still have some time to join the rest of the browsers, shoppers and fun makers.

Here’s a link to help you with planning the tour that you’ll most enjoy:

http://www.paradeofhomes.org/parade-home/parade-home.aspx?id=1700922  Also view our Sunset Ridge model!

Here’s another link for you to check out.  Get in on some of the interesting educational sessions being held.

http://www.womancentricmn.com/builders/NIHHomes.aspx#2

NIH Homes model is open during the parade on Thurs - Sun 12 - 6pm