From the category archives:
Richfield
by admin on January 8, 2009
Deals, deals, and more deals. It is hard to believe, but now it is getting easier. Current home prices are very low. I thought a couple of months ago I saw a lot of deals, but it is getting better, or worst depending on your situation. Right now, 40% of all sales in Minneapolis are foreclosed homes. There is a 9 month supply of housing, which typically in a healthy market, there is a 5 month supply. I just looked at 35-40 duplex homes in South Minneapolis and all of them were under $100,000. There is probably another 200-300 in Minneapolis that are under $100,000. Most of them need work, but they can be fixed. I just wonder how long it is going to last. It sounds like there are lot more foreclosures coming on the market. Barring a government bailout to every home owner I think prices are going to get lower. There is a lot of opportunity in the real estate business right now. If you can play your cards right I think many millionaires are going to be made over the next few years. If you have a home in Richfield with hardwood floors give me a call I will give you a deal. Thanks a lot.
by admin on October 13, 2008
The leaders of the world met. This last weekend in Washington, the leaders of Europe and the United States met to try to figure out this global credit crisis. So far, European governments have decided to guarantee every loan made in Europe. That’s right, I am not kidding. The question I have is where is the money coming from? A lot of the Europe governments are already running budget deficits and they have high national debts. The only way a government can generate revenue is to tax its citizens or print money. So the European governments are either going to have to raise taxes very, very high to pay for these loans or their going to have to turn on the printing press. It is a lot most unbelievable. These are supposed to be the smartest financial minds in the world. But a policy like this is going to devalue the Euro and cause inflation. This means a lot of opportunities for real estate. It is so cheap right now and I think it is going to get cheaper. Banks are scared. They don’t know what is going to happen. I would buy real estate. I am going out later today to look at four duplexes in Northeast Minneapolis that are under $60,000. A lot probably have hardwood floors that I can sand and refinish. If you think your hardwood floors need to be sanded and refinished give me a call.
by admin on August 26, 2008
As real estate around the United States gets cheaper and cheaper everyday, Richfield homes for sale are following this trend. According to Northstar Regional MLS statistics new listings in Richfield are up 20.3% since last year. The average sale price in Richfield is down 11.8% from about $222,000, to about $195,000. A lot of these houses are close to the Academy of Holy Angels High School, which is a popular school among parents in Richfield, www.academyofholyangels.org. [click to continue...]
by admin on July 12, 2008
If you are looking for a first tier suburb of Minneapolis with a convenient location, put Richfield on the top of the list. Call me for a customized list of Richfield MN MLS listings, or search for homes on your own by following this link.
Richfield enjoys a strategically convenient location adjacent to South Minneapolis on its northern border, the Mall of America next to its southeast corner, and the Minneapolis-Saint Paul International Airport on the east side. The major freeways that surround and transect the city include Interstate 35, Interstate 494, Crosstown 62, and Highway 77 (Cedar Avenue,) making this an ideal location for commercial interests as well. [click to continue...]
