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Interest Rates
The average interest rate for a new home at a thirty year fixed rate was 5.9% in 2006. Short-term interest rates were raised from 1% to 2.62% since 2005, due to inflation fears of the economy. If you are going to buy a home in Minnesota, your best choice is going with a thirty year fixed interest rate unless you can pay it off with ease within a short period of time. That all depends upon you and how much you can afford.
Lower Unemployment Rate
The unemployment rates is decreasing more and more in Minnesota. This is a good sign, because it means that the economy is beginning to create a lot of new job openings. Since the baby boomers are beginning to have medical problems and many of them will be beginning to go into nursing homes soon, there is a high job opening in the medical field. Other great fields to go into in Minnesota right now include the educational field, computer security, and engineering. Minnesota’s employment rate has decreased the most, only surpassed by New York, Massachusetts, and New Jersey, within the last ten years. If you are looking for a great place to live where you will most likely be able to find a decent paying job, Minnesota is probably a great place for you.
Average Minnesota Sale Prices
Prices of Minnesota homes tend to vary between the lower one hundred thousands to the high two millions. The average price of a home state-wide in Minnesota costs $247,400. In a metropolitan area, an average home costs $262,896. In a non-metropolitan area, an average home costs $192,700. Homes in the Southeast cost less while homes in the West cost the most. If you are looking for a less expensive home, your best bet is Southeastern Minnesota. Overall, Minnesota’s homes are considered to be affordable in comparison to other states.
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Minnesota Real Estate News
Investors Real Estate Trust Declares Regular Quarterly Common Share Distribution, and Declares Series A Preferred ...
Fri, 03 Sep 2010 13:30:00 -0700
MINOT, N.D. -- Investors Real Estate Trust announced today that its Board of Trustees has declared a regular quarterly distribution of 17.15 cents per share/unit payable on October 1, 2010 to common shareholders and unitholders of record at the close of business on September 15, 2010. Inland Real Estate Corporation Announces Joint Venture Acquisitions of Farnam Tech Center and Copps Food Center
Thu, 02 Sep 2010 05:30:00 -0700
OAK BROOK, Ill.----Inland Real Estate Corporation today announced the acquisitions through its joint venture with Inland Real Estate Exchange Corporation of the Farnam Tech Center in Omaha, Nebraska and a free-standing Copps Food Center store in Sun Prairie, Wisconsin. Wolf killings set to expand
Sun, 05 Sep 2010 18:15:34 -0700
Wolf killings set to expand By MATTHEW BROWN The Associated Press Updated Sep 6, 2010 03:36PM MDT Billings, Mont. • Government agencies are seeking broad new authority to ramp up killings and removals of gray wolves in the Northern Rockies and Great Lakes, despite two recent court actions that restored the animal’s endangered status in every state except Alaska and Minnesota. Various proposals ... Weekly Planner business calendar
Sat, 04 Sep 2010 22:10:29 -0700
University of Minnesota New Alumni Association. Football Returns to Campus: How TCF Bank Stadium is Engaging Our Community. 11:30 a.m., McNamara Alumni Center, 200 Oak St. S.W., Minneapolis. $35-$28. carlsonschoool.umn.educ/firsttuesday YOUR PLACE TO CALL HOME: Who does your Realtor work for?
Mon, 06 Sep 2010 01:03:38 -0700
You walk into an open house on Sunday afternoon and talk to the Realtor there about the home you are viewing. When you start to share information about your housing needs, the Realtor stops you and says, "We need to talk about agency."
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