Here’s the latest real estate news around Minnesota of interest to property buyers, home sellers, renters, landlords, property managers and the generally home-curious.
FHFA: Home prices increase 6.6% in second quarter. Home prices increased in the second quarter, but moved only slightly from May to June, according to the House Price Index from the Federal Housing Finance Agency.
Black Knight: Foreclosures drop to lowest level in more than 10 years. According to Black Knight’s new report, there were 398,000 properties in foreclosure pre-sale in July. That’s down 12,000 from June and down more than 150,000 from the same time period last year, a decline of 28%.
What’s the Difference Between a Short Sale and Foreclosure? Two options for homeowners who fall behind on mortgage payments are a short sale and foreclosure. While the prospect of losing a home is a hard reality that many people face, it’s important to understand the difference between these two processes.
In the Know: Here’s how tax increment financing works. Tax increment financing is a flexible economic development tool that uses the increased property taxes that a new real estate development generates to finance costs of the development.
Here’s our top tip of the week: How to Successfully Raise Rents Without Risking Costly Vacancies. One of the most often-pondered questions among rental property owners is whether or not they could be making more money on their rentals.