Duplex Chick

The Minneapolis Duplex Tax Credit Race Is On

2009-07-20T21:05:11Z

I keep wondering when people will notice summer’s almost over. OK, so it’s not exactly over. But we’re a week a week and change away from the first day of August. Summer might as well be over then, as it’s when we all start thinking “time to get ready to go back to…”. Summer’s end promises the onset of fall. [...]

FHA Wins Minneapolis Duplex Financing Wars Again

2009-07-16T22:35:50Z

It sounds presposterous, but a client actually had a computer glitch significantly delay his purchase of a duplex the other day. As he was using FHA financing, the glitch involved a software problem in the computer system of the federal government. Basically, he had written an offer earlier in the year on a different property, which we were unable [...]

Minneapolis Duplex Sales Experience Holiday Countdown

2009-07-14T20:21:51Z

Holidays have a big impact on MAAR’s Weekly Market Activity Reports. It doesn’t matter whether it’s the 4th of July, Christmas or Thanksgiving. Sales always seem to drop like the ball in Times Square on New Year’s Eve. As a result, the number of pending home sales for the week ending July 4 fell to just 989. The good [...]

Is A $10 Rent Increase Worth The Hassle?

2009-07-13T17:51:20Z

While talking about rent increases in tough economic times might be like pining for summer in the midst of a Minnesota January, it is nevertheless important to remember the enormous impact on value that even the slightest increase in revenue can make. There is no greater illustration than this than the gross rent multiplier. As I [...]

The Worst Duplex Investment Advice – Ever

2009-07-10T14:36:03Z

This morning I stumbled upon the worst real estate investment advice I’ve ever read. Which was? Not to use a Realtor in the early stages of looking for property. The rationale? You might get pressured into buying something. I suppose smoking is really good for you too. If I could make people buy property, would I still be working? Or would I be retired? And [...]

The Ups And Downs Of Minneapolis Duplex Vacancy Rates

2009-07-09T17:45:02Z

If you worked your way through all the Michael Jackson media this week, you might have heard about the report released by Reis, Inc., announcing the national apartment vacancy rate hit a 22-year high in the second quarter. Reis, a New York based real estate research firm, also found vacancy rates rose nationally to 7.5 percent; an increase of [...]

More Good News In Minneapolis Duplex Market

2009-07-07T18:36:27Z

While the media continues to report disheartening news for the national housing market, the most recent data for the Minneapolis/St Paul real estate market again suggests there may be reasons for cautious optimism locally. With their release of the Weekly Activity Report for the week ending June 27, MAAR reports that new listings for the week were down 18.9 [...]

Do You Pay More In Interest When You Buy A Duplex?

2009-07-06T19:31:18Z

One of the most common questions I get is, “What’s the interest rate on a duplex?” And as I do with so many of my answers, I always begin with, “It depends”. If you plan to live in the duplex, your interest rate will be exactly the same as it would be if you were buying a [...]

What’s The Heat Cost On That Minneapolis Duplex?

2009-07-03T19:19:49Z

Someone asked the other day what the average heat bill on a duplex was. I couldn’t answer. See, utility bills like heat, electric, water and sewer are as unique to a property as they are to a single family home. The cost of each is dependent upon the number of people who live there, the square footage [...]

Minneapolis Duplex Sales Pull An All-Nighter

2009-06-30T20:58:13Z

Well, it’s the Continuing Education deadline for Realtors is today. As a result, there’s a mad scramble around the office as we procrastinators try to finish up the last of our state required annual education and turn in proof we did it. Yes, yours truly was among the procrastinators; one who pulled an abbreviated version of an all-nighter in order [...]