Top amongst healthy cities, a leader in parks and greenway development and a vibrant social scene to boot, it’s no surprise that Minneapolis is sought after as a great place to live. As rental rates go, Minneapolis’ are quite high as compared to the rest of the Twin Cities. In Fact, Forbes magazine recently noted that it is only $60 cheaper per month to rent than own a home in Minneapolis. Potential buyers - now is a great time to buy and home improvements are an excellent investment. Take a look at this article by the TCB.
So, where are the deals in real estate improvement and how can you take advantage of them? More than ever, we’re seeking the best deals in every situation. A great story of this deal seeking mentality is the creation of Groupon, a website that offers daily deals of up to 90% off. Groupon went from start up in 2009, to today, receiving over 40 million website visits a month simply because of great deals! We still want to live our lives, have fun, go to dinner, live in a nice house and do all the things we enjoyed before the economy turned; it’s just that we are a bit more conscious about what we are willing to pay for things like real estate improvement. Let’s work with the real estate opportunities - below are three positive deal-changers to consider when looking at home or real estate that needs improvement:
Twin Cities now ranks 13th in nation for ENERGY STAR Certified Building. This has resulted in $40 Million in energy savings. In total, the EPA estimates the growth in Energy Star-certified commercial buildings last year has resulted in saving some $1.9 billion in energy costs. Buildings can earn an Energy Star label if they can prove that perform better than 75% of similar-type buildings nationwide, based on various energy and indoor-air quality standards.
The not so big house may be right size for your family; we're here to remind you that small homes need love too! Ice dams, the north wind, and snow drifts may have compramised the integrity of your shingles, siding and windows. Even in a small home - if not insulated or setup with a modernized heating system - energy bills can soar. 3Bids is here to help increase your energy efficiency or just fix up your cute little home this spring. While we doing that, take a look at the Not So Big House, by Sarah Susanka’s - this is a nice little online read, bulging with images and ideas to fix up your home. Americans’ love affair with the McMansion may be slowing - smaller, highly detailed, long-lasting dwellings are detailed in this book and website. 3Bids is here to assist Twin Cities residents looking to build or remodel their homes with resource conservation and financial considerations in mind.
Today, thanks to an improving U.S. economy lifting employment and incomes, the Minneapolis - St. Paul Housing Marketplace is rated 6th in the nation. The Little Apple appears poised for growth according to Builder.com. Last year's strong rebound in permit activity was led by a surge in multifamily housing and is expected to accelerate in 2011. As a whole building permit filings were up 22 percent in 2010, If builders actually pull 9,403 permits this year, as Moody's forecasts, that would equal half the volume of 2005.
Twin Cities home sales down 9.5% compared to 2010 - Another reason why homeowners should focus on improving the existing properties to add value and differentiate in the marketplace.