Star Tribune Twin Cities Housing Article

In a recent article written by Jim Buchta of the Star Tribune titled “Twin Cities Foreclosure Crisis Subsides as Home Prices Surge” – Jim talks about what a lot of us in theTwin Cities Housing Market Updatefield are experiencing.

According to the article, Foreclosures and Short Sales made up just 12% of all home sales in June, down from 60% 3 years ago.  This is great news for both the economy and home sellers as the flood of distressed properties really decreased property values.

In the article, we hear from a first time home buyer looking under $100,000:

““I’d heard that everyone is being foreclosed on and that there are short sales all over the place, but there wasn’t a whole lot for us.”

The market has drastically shifted and homes that may have been considered a deal a few years ago are often being sold in multiple offers and/or investors paying cash.  If you are looking to compete in a seller’s market, 3 things you must do:

  1. Get pre-approved.  No seller will want to tie up their property with someone that hasn’t been pre-approved with a loan officer.
  2. Hire a full time Buyer’s Agent.  With how quickly homes are selling and in multiple offers, it is more important than ever to work with a Buyer Specialist as they are 100% dedicated to helping you find your next home – not listing homes, not following up on loose ends – helping find great homes is their #1 concern.
  3. Be ready.  You may see the perfect home the first time out, that is okay – just be ready to make an offer.  In a seller’s market, you typically do not have a night to “sleep on it.”

Our team is built with full professionals and staff looking to provide the best service possible.  We are not a team of generalists, but rather a team of specialists and we look forward to going to work for you.

To read the full article, click on the link:


About the Author

Katy Korby is the CFO of the Korby Home Team. Her passion is ensuring that our clients have an out-of-this-world experience selling their homes with the Korby Home Team. Katy comes to us with a diverse background and a unique skill set that enhances the client experience. Her attention to detail and care for people make her a wonderful asset to the team. Graduating with a degree in Theater, Katy has performed in numerous plays and most recently starred in a locally produced indie film that is being entered info film festivals around the nation. Katy’s experience in the work world include many positions within the accounting world including tax preparation, bookkeeping, and full-charge accounting. Most recently before joining the Korby Home Team, Katy was the Market Center Administrator for Keller Williams Integrity Realty in Roseville, where she was the full-charge accountant and handled budgeting and forecasting for the company as well as day to day operations and administration of an 80 person real estate office. Katy and her husband have two children, Libby and Calvin, and have lived in Como Park for almost two decades. In 2013, Katy completed the Tough Mudder 10 mile event and is a proud member of the “Finishers” group! For fun, Katy loves reading, photography and gardening and spending time with her family.