November 2014

There are 3 blog entries for November 2014.

A gas you can't see, can't smell and can't feel is becoming more involved in home sales as buyers are starting to demand testing for it. That gas is called radon. It occurs naturally as materials in the soil break down, and homes with basements and ground-floor levels could have this gas enter from the ground.

Radon exposure can cause lung cancer. One house might have it, and the neighbors might not. Or, worse yet, all the houses on the block might test high for radon.

Homeowners selling their homes who have tested for radon need to disclose the results. Buyers also have the option of testing for radon during the inspection process and before finalizing the buyer's agreement. There will be an additional fee to conduct it.

At this time, the state

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There's good news for Minneapolis residents thinking about listing their home in the near future: houses are selling at a faster rate and for a higher price than even a year ago.

A report released by the Minneapolis AREA Association of Realtors found that across the Metro, homes are being listed at prices 10 percent higher than last year, and median sale prices were up 8.3 percent from a year ago, too.

Condos and lofts, which are a large part of the downtown Minneapolis market, saw the largest jump in housing sales. The market is seeing greater demand from buyers, who are competing against each other to pay asking price, or close to it. Because of this demand, many condos are selling through pocket listings, which means the property never gets

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The housing market in the Twin Cities has greatly improved in the past two years, and while we're not yet at the prices and rate of turnover we saw before the collapse, things are definitely picking up. As a result, as a homebuyer you might face the need to act quickly when you find a house you love, and you might need to make an offer at full price, or close to it.

In the Twin Cities condo sales category, which makes up much of the downtown Minneapolis market, prices last year increased 15.9 percent to an average of $146,000. If you're thinking of buying soon, keep this average price increase in mind. Interest rates are still very low, of course, and this can help you extend your maximum budgeted price. For single-family homes, which make up much of

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