Good news in the housing market!

Everyone is wondering when housing values will increase. When will we hit bottom, I am asked often. My answer is the same. If only I had a crystal ball...What I do know is if we are not at the bottom, you will know when we hit bottom after you miss it!

We know many positive things are happening now. These stats are very important. Bottom line is Inventory is down, rates are down, buyers are in the market. This is good news whether you are buying, selling, or investing in rentals.

For Week Ending December 31, 2011 Quick Facts
Publish Date: January 9, 2012 • All comparisons are to 2011

Most observers would agree that this year's housing recovery was not as robust as
many had hoped. That said, a handful of things went right. Supply-side market
correction took the guise of inventory declines and a pullback in listing activity.
Consequently, sellers generally faced fewer challenges than in the past. Driven by
improvements in the economy and record-low mortgage rates, purchase demand
strengthened organically, independent of government incentives. Those sales gains
combined with falling inventories to move the market back toward balance. Nobody
knows what 2012 will bring, but it's a safe bet that these positive developments will
continue to evolve. I look for a very positive 2012!

In the Twin Cities region, for the week ending December 31:

• New Listings decreased 11.6% to 593
• Pending Sales increased 41.7% to 564
• Inventory decreased 24.9% to 18,341

• Median Sales Price decreased 5.6% to $145,000
• Days on Market decreased 2.4% to 140
• Percent of Original List Price Received increased 1.8% to 90.6%

If you or anybody you know needs assistance in the housing market please give me a call at 612.308.4708 or drop me an email. Check out my website @ www.go2joe.com

Housing Supply Outlook!

What to Watch For

The number of townhome sales in the Twin Cities metro area has increased over the last year by 0.4 percent after several consecutive years of declines in
unit sales. Can you guess the price point where townhouse sales increased the heaviest in the past year? Under $120,000, where sales have more than tripled.
Of the 1,898 townhouse sales in that segment, 1,557 were lender-mediated foreclosures and short sales. Click here for the complete report.

There are currently 7.6 months of supply available, down 28.6 percent from last year at this time when the mark was 10.4 months. The biggest drops in supply
have been seen in the single-family detached and townhouse markets—the months supply of condominiums still sits at 12.5 months. Email Me

Sales are up overall, but in the higher price ranges sales are still down over 20 percent year-over-year. In the $1,000,000 and higher segment there is almost 3
years of supply available.

If you have any questions or need help with your housing needs, please drop us an email.
Call anytime Joe 612-308-4708 Tom 612-865-9778

Fed Drops Rates by .50 to 1.5%

SURPRISE RATE CUT:

www.go2joe.com

Federal Reserve cuts rates by 0.50%

This morning the Federal Reserve responded to the current credit crisis by lowering the federal funds rate to 1.50%.

The Federal Reserve meets again October 28th & 29th. Will they continue to lower rates? And what does this mean for you?

GOOD NEWS in an uncertain economy
Mortgage rates are low, starting at 5.25% (5.47% APR)*
Lenders are still lending millions of dollars each day
Larger banks have over 200 trustworthy lenders on their network
Larger banks like Wells Fargo will beat the national average interest rate*

For a new loan or Refinance go to http://www.go2joe.com and click on "mortgage"

In times like these, it's important to smile and help others to do the same!