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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
Central Minnesota real estate market is up; lower-priced properties still dominate increase
Fri, 03 Feb 2012 22:33:01 -0800
The Central Minnesota real estate market warmed up in 2011 as pending sales jumped more than 12 percent and new listings declined 6.6 percent from 2010. Real estate market shows pulse, but not yet roaring back to life
Wed, 11 Jan 2012 15:56:41 -0800
Minnesota's real estate industry enjoyed some improvement in 2011, but don't expect a roaring comeback this year. Rochester Minnesota Realtor Julie Fink Helps Residents Avoid Foreclosure Amid Growing Real Estate Market
Mon, 16 Jan 2012 00:07:51 -0800
Leading Rochester MN Realtor Julie Fink is helping people throughout the Rochester area avoid foreclosure by assisting them in the “short sale” process, providing her expertise in real estate to homeowners facing a difficult problem. ... Central Minnesota real estate market improves in 2011
Fri, 03 Feb 2012 10:04:19 -0800
The Central Minnesota real estate market warmed up in 2011 as pending sales jumped more than 12 percent and new listings declined 6.6 percent from 2010. Midwest Real Estate Data's Share My Listings (SMyL) Widget Boosts Social Media Presence for Realtors(R)
Mon, 23 Jan 2012 09:21:00 -0800
LISLE, IL-- - Social media has become a vital component in the marketing strategy employed by today's real estate professionals. Many have incorporated vehicles such as Facebook and Twitter into their ...
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