Happy New Year to all my clients, friends and neighbors!

It sounds as though 2013 is going to be a good year for real estate values in the Twin Cities and Lake Minnetonka area. According to Case-Shiller, home prices posted their largest annual jump in 2 years. Business Insider is saying that buyers will be rushing to buy homes and the housing recovery is just getting started. And J. P. Morgan has a base estimate that home prices will rise 3.4% and could rise as much as 9.7%. Any positive gain is just fine by me!

I personally think it is a great time for any first time buyer to step out of their rental and get into a house. With interest rates between 3 and 4% a house payment is about equal to what you pay for rent. Plus you gain the pride and privacy of home ownership.

With houses starting to move I think even the middle range homes in the $300 to $500,000 range will see some nice sales numbers this year. Consumer confidence and perhaps a more stable job market would help with these numbers.

Of course, we have all heard that new construction starts are on the rise! This is great news for excellent paying jobs in plumbing, heating, electrical, millwork, painting, landscaping and finishing work.

If you are considering buying or selling a home in the western suburbs, Westonka and Lake Minnetonka area please give me a call. Watch for my new ads in The Laker and Minneapolis/St. Paul Magazine.

Best wishes to you in 2013!

Tim