Is now a good time to buy? With the advent of the novel Covid-19 Virus housing like many other industries has been affected. According to data from Zillow searches have dropped by 40% but prices have stayed the same. What can we infer from the data we are acquiring from this early phase? Even though there has been a drop in the overall amount of buyers, it is still a seller’s market. According to MAR’s weekly market activity report we have seen a 22% decrease in new listings as well as an 8.5% decrease in pending sales. This doesn’t necessarily reflect the health of the market however! Homes are now spending 41 days on market as opposed to the 45 day average of last year. On top of that there has been a 3.3% median sale price increase. All in all the market is still in seller’s favor.
Now, any good statistician will tell you that is foolish to extrapolate data especially with something as fickle as the real estate market. One thing we can do now is look at current conditions and try to paint a vague picture of the future. With talks of a second stimulus check coming out there seems to be hope for a little more stability in the future. However, states are all over the place when it comes to lifting their emergency protections for renters and homeowners. This can spell disaster for both homeowners and renters who may now owe back payments on rent and mortgages. All in all, 2020 has been a wild and unpredictable ride and we will see where the market takes us next.
Thinking about how to help your neighbors during tough times? Here are some tips to take care of the people around you:
1. Call your elderly and immunocompromised neighbors and see if they need any supplies or help. The elderly and immunocompromised are especially at risk right now so if you can drop off some supplies, it will help keep your neighbors safe.
2. Not all your neighbors can afford to stay home, so if you can lend a hand with child care or delivering hot meals, it can make a big difference for others.
3. Practice good hygiene and washing hands for 20 seconds (That’s the happy birthday song twice!).
Not only is good hygiene good for you, but it protects your community as well.
The beginning of March is a great time to get your garden going. We here at ABC Realty have ordered quite a few types of seeds to plant in our gardens. One of our realtors, Mhonpaj even runs her own farm called Mhonpaj’s Garden.
If you’ve ever dreamed of having your own garden, the spring is a great time to buy a home with space for one, or upgrade to a bigger plot. Call us today for all your real estate needs!
It’s March! Spring is here! We want to remind you about a few easy Spring cleaning activities you can do to maintain and beautify your home!
1. Clean your gutters. Dirty gutters are an eyesore and a liability for you or your buyers. Cleaning your gutters takes less than an hour, and helps prevent flooding in your yard.
2. Repair your windows and screens. Make sure to replace damaged windows and screens so you can enjoy that fresh spring air. Damaged windows and screens lower the curb appeal of your home.
3. Once the snow melts, make sure your lawn is up to snuff. Rake away leaves and clutter to dry your lawn out so it isn’t a muddy mess.
As always, call us today for any of your real estate needs.
Hello Minnesota! Spring is around the corner. Do you know what that means? Grilling. Look at these delicious burgers smoking up on that grill. Can you imagine how delicious they are? And you know what? I don’t even eat meat! But I’m still excited about the prospect of grilling up a storm. What would make that experience even better? Grilling in your own home. Aren’t you tired of renting? It’s becoming cheaper to own than rent, giving you more money for that sizzlin’ grill. Call us today for all your real estate needs!
This Wednesday the city of Saint Paul’s PED is leading a workshop as part of their master plan process. Open to the public, this event will work in collaboration with the Port Authority, Consultants, and community members. The event will be held at the Heights Community School, 1863 Clear Ave East. This is a great opportunity to spend time in community in the East Metro and learn about development in the Twin Cities. We encourage you to attend this meeting and give your input on the largest development the East Side has seen in years. Through active community voice, we can not only combat gentrification but shape our communities as well.
Commercial corridors can contribute to a neighborhood’s affordability. They are a hot topic in today’s rapidly developing urban centers. Payne Avenue is no stranger to the hustle and bustle of commerce. The Payne Area Reboot is setting out to strengthen the economic vitality of the Payne area. Although this sounds wonderful it could spell out the signs of incoming gentrification. Without community input, plans and developments can quickly go awry. East Side Freedom Library is hosting an event “Future of the East Side” February 12th at 6:30 pm. If you are an East Sider and want to make sure your voice is heard please attend ESFL’s event next Wednesday!
What is rent control?
Rent control is a set of local laws that keeps housing affordable and puts a set of protections in place to protect renters such as rental price limits, eviction protection, maintenance standards and a system of enforcement. Rent control is a positive notion for the real estate market, as it allows renters to save money to purchase a home instead of being cost-burdened by renting. Currently, Saint Paul does not have rent control in place.
What do you think about rent control?
Should you sell your home in 2020? This year, the market is hotter than ever! We’re going into the spring market with more demand than there is supply. The spring market kicks off the 3rd of February. ABC Realty is ready to help you sell your home and make the most of this hot market. Call us today!
What is a CMA? Why does it matter?
A Comparative Market Analysis is an analysis where a property is compared to similar properties in the area to determine the value. The property is compared to current properties listed for sale, properties that have recently sold but not closed, and properties that have sold and closed within the last year.
A CMA matters to someone who owns a home and is thinking about selling. If you are considering selling your home is 2020, then a CMA is important information for you to consider. Call us and we’ll create a CMA for you!
2019 was a big year for ABC Realty. From the construction and sale of our FRED homes to the launch of our Close the Gap campaign, we have had an eventful year. We’d like to take some time to look back at all that has been achieved. Early in 2019 ABC Realty and DBNHS partnered to construct six scattered site homes. These split entry homes were built all over the East Side keeping affordability in mind. Perhaps the biggest shift we made this year was the launch of our Close the Gap campaign. Our Close the Gap campaign seeks to close the racial housing gap between White-Minnesotans and Minnesotans of Colour. We have partnered with various groups to put on a film series, hold community conversations, and much more. In 2020 we seek to expand our campaign and continue selling affordable houses! Keep an eye out for phase 3 of Village on Rivoli this upcoming summer.
There’s been a lot of buzz recently around the Hillcrest Golf Course Development on the East Side. In a city steeped in history, its fascinating to get to know how such a large development could affect this large small town. How will our neighborhoods in the Greater East Side be affected by the construction? Here at ABC Realty we like to think about how the history of Saint Paul and the East Side shapes the future, so we thought it might be helpful to do an overview of the history of the Hillcrest Golf Course.
In 1921, the Hillcrest Golf Course opened in the Greater East Side. The original owners of the Golf Course and Golf Club were primarily wealthier white Minnesotans. In the 1940s, after stumbling through the Great Recession, Jewish investors bought the club. Prior to the purchase of the club, Jewish Minnesotans weren’t allowed to play golf in any other course in the Twin Cities. After the purchase, Hillcrest became a Jewish only club up into the 1970s. In the 70s, the club was opened to the public.
In 2000, a nearly 3 million dollar clubhouse opened. Unfortunately, the debt from the new clubhouse, the recession, and a waning interest in golf caused the club to close. It was bought by the Steamfitters Pipefitters Union, and is now being developed by the city of Saint Paul and the Port Authority.
