Alicia Garatoni

Further support that now is a great time to buy a home . . .

2012-01-10T17:02:00Z

In a December 30, 2011 New York Times article, Karl Case, the co-founder of the prestigious Case-Shiller Index, presents his perspective. The following is an excerpt from the Times article and is reprinted in its entirety. Karl Case: ‘It’s unbelievable’ A professor emeritus of economics at Wellesley College, Mr. Case’s name is practically synonymous with real estate values, because he helped create the Standard & Poor’s/Case-Shiller home price index (along with the...(read more)

The media isn't always the best resource . . .

2012-01-09T22:33:00Z

You've heard this time and time again yet just last week there was another example of poor reporting. First, an admission - I came in on the tail end of a news segment so I didn't catch the entire conversation nor do I have the financial consultants name. Also, I know that this was one person's opinion and that this isn't an indictment of all news shows. However, when the anchor asked him if now was the time to purchase a home, he answered unequivocally "No". I find that...(read more)

Twin Cities ranks 4th for businesses

2011-12-15T17:16:00Z

MarketWatch, a division of the Wall Street Journal ranks the Twin Cities 4th in the nation for its business community topped only by Washington D.C., Boston and Des Moines. The study looks at the concentration of businesses and their economic strength. They considered all cities with a population of half of a million or more. To see the full ranking, go to http://www.marketwatch.com/story/california-florida-ohio-cities-in-bottom-10-2011-12-13 In an Ameriprise Financial report, the Twin Cities was...(read more)

Changes to the Minnesota property tax formula

2011-12-12T17:10:00Z

The Minnesota Association of Realtors just issued a great summary of the 2011 changes to how are property taxes are calculated. The complete article is attached. Please call me if you have any questions....(read more)

Rent vs. Buy - What's right for you?

2011-11-28T14:25:00Z

I just received the following study presented by Ken H. Johnson, Ph.D. - Florida International University (FIU) and Editor of the Journal of Housing at the National Association of Realtors national conference in Anaheim, CA . The analysis should be useful in helping you to decide what's the best route for you. http://realestate.fiu.edu/buyer-or-renter-nation.html ....(read more)

Just out from the National Association of Realtors

2011-11-22T15:17:00Z

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Not a good catagory in which to lead.

2011-09-13T21:34:00Z

Out yesterday (9/12/11) is a report in the Minneapolis/St. Paul Business Journal that Minnesota is one of the leading nations for mortgage fraud. In a report released by the Mortgage Daily website, Minnesota had over $184 million in reported mortgage fraud. Other states with high rates were California, Florida and Ohio based on civil and criminal cases. I prefer to think that our state is better at policing ourselves so we catch more of these criminals rather than we have more mortgage fraud crimes...(read more)

Just when you thought they couldn't go lower . . .

2011-09-13T21:24:00Z

According to Forthebestrate.com, a mortgage interest rate research firm, interest rates today (9/13/11) dropped to the lowest point ever as reported by Rismedia, a leading real estate information systems company. For a 30 year fixed mortgage, this means a rate of 3.875% (APR 4.04%). For the full article, please go to http://rismedia.com/2011-09-12/mortgage-rates-again-fall-to-record-lows/ I hope it goes without saying that if you were ever thinking about buying a home . . . . please see your preferred...(read more)

Condos and town homes to see a resurgence?

2011-09-10T20:25:00Z

Except for a brief period in the early 2000's, single family homes have generally seen greater demand than condos and town homes. As the first of the baby boomers hit retirement age last year, that may be changing. There are approximately 77 million people - those between 47 and 65 years old - who will dramatically shape the direction of housing for the next 20 years. Many are empty nesters with equity in their homes that are looking for a lifestyle change. A recent article in Rismedia suggests...(read more)

What conclusions can be drawn from May 2011 housing statistics?

2011-06-16T17:36:00Z

It continues to be difficult to compare year over year statistics as the post tax credit slump adversely impacted May 2010 sales figures. When compared to May 2011 statistics, pending sales increased dramatically by 13.2%, new homes on the market jumped 10.8% and total housing inventory shrank 11.8%, the lowest May count since 2005 according to statistics published by the Minneapolis Area Association of Realtors. Any increase in sales/decrease in inventory is welcomed yet we should be cautious about...(read more)

Deliquencies down but foreclosures up???

2011-05-03T02:20:00Z

Have you been reading that the number of homeowners more than 90+ days delinquent on their mortgage is down? It's true, for many people the employment situation is getting brighter and families are learning to adapt to a more stringent household budget - cutting out the non-essential expenses freeing up money to contribute to their mortgage. You might have also heard that foreclosures are up and wondering how these two statements could both be true.. Basically, banks are not foreclosing on as...(read more)

More reasons to love Minnesota!

2011-05-02T17:03:00Z

I'm late getting the memo - in September, the Twin Cities was recognized as one of the least stressful metros in the U.S. by Portfolio.com. Ranking 3rd, we were beat out by Salt Lake City and Virginia Beach/Norfolk. Criteria included unemployment, change in income, and amount of sunshine. To see all the rankings, visit http://www.portfolio.com/interactive-features/2010/09/2010-stress-rankings-for-metro-areas . Which leads to another more current ranking - Minneapolis ranked 4 th for Best City...(read more)

Twin Cities ranks 12th for small business creation

2011-04-18T20:47:00Z

This ranking by a recent Business Journal study of 100 of the largest U.S. metro areas is up substantially from 2010 when the Twin Cities was at 39th and at 40th in 2009. The study considered population growth, small business openings and employment rates in it's criteria. Austin, TX came in first for the second year in a row....(read more)

Keller Williams Giving Back

2011-03-24T17:57:00Z

One of the basic tenets you’ll find on the Keller Williams website is: “finding and serving the higher purpose of business through charitable giving in the Market Centers and communities where Keller Williams associates live and work.” This is more than just a great philosophy we share with the public. Each Market Center is tasked with identifying and donating time, talent, financial assistance, etc. to local community organizations. Attached is a copy of each Market Center’s...(read more)

Why do people buy a home?

2011-03-24T16:45:00Z

I’ve heard much discussion in the last two years that real estate is no longer a sound investment decision; that the stock market makes better financial sense. One of these people is Jack C. Francis , a former Federal Reserve economist and professor at Baruch College . He said in a recent CNB C article: “For generations, parents and grandparents have been telling us that the way to get ahead was to buy a house and keep making payments with a fixed interest rate and after 20 or 30 years...(read more)