New Record: Rent Hits All Time High in MN

That’s not exactly the headline you want to read as a renter. However if you’ve rented in Minneapolis/St. Paul for any period of time you already know that rent is sky high. Unfortunately that expensive rent has and is going up. Across the entire Twin Cities rent is up 3.5% from last year putting the number over $1,000 on average for the first time in history. If you’re living downtown that number jumped even more; up 9.1% from last year. 

Think maybe all those new buildings you see going up in and around both downtowns will help keep the prices down? Not true according to the Star Tribune.

“Greater supply of rental units does not seem to be having an impact on price. The newspaper said that while more than 1,000 new apartments came on the metro market in the first quarter, the overall supply of rental units remains below what’s considered healthy levels, which is pushing rents higher.

In better news, the city of Oakdale was ranked #15th in CNN/Money Magazines list of most affordable purchase housing markets in the US. Silver lining!

 

 

Talk About Awesome

We see dozens of houses every week. Sometimes it even feels like 100s! Each home is unique it’s own way which is what makes this business so awesome. Below is a link to a really cool article about 30 things you can do in your own home to get extra function-ability from your kitchen, hallways, etc. or how to keep an easier eye on your kids/pets or even just for looks. It’s all there! We think it’s pretty awesome. Just click the photo and it will take you straight to the article!

 

Homebuying Timeline/Checklist

Whether you are just starting to check out a few homes on our website or have already been pre-approved, we could all use a good checklist to keep us on track! Our awesome lenders have putting together a really nice, straight forward that can help anyone no matter where they are at in the process! If you would like a PDF version don’t hesitate to request one and we would be happy to send one out to you!

Welcome!

Thank you so much for visiting our blog. We love the real estate industry and wanted a platform to share we learn and experience everyday so we can try to help you along in your home purchasing/selling journey. We know real estate can be tricky sometimes.

In this blog we are going to post about local market conditions, fun rehab projects, where the industry is trending, what is going on in your local community, not just with real estate but schools, parties, new commercial (restaurants, malls, etc.), and also answer any questions that you can possibly come up with. Real estate or not (sometimes we prefer not – we both have very strong opinions on the Vikings).

Again we are so happy you stopped by. Check us out. Ask us a question. We are always here to help. We hope you come back.

Josh and Lance

Team Fellman