Jim Buchta

Minneapolis

Housing Reporter at The Minnesota Star Tribune

Housing reporter at the Strib, cover residential real estate.

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Articles

Keys to a successful, not stressful spring housing hunt in the Twin Cities

1 week ago | startribune.com | Jim Buchta

For homebuyers, the only fate worse than falling into a bidding war is losing one. Though the Twin Cities housing market isn't as hot as it was two years ago - when mortgage rates were at record lows - battles between buyers are still common, and happy sellers keep reaping the rewards. More than a quarter of all houses in the metro sold for more than the original asking price during February, according to Redfin. That's on par with last year but significantly higher than the national average.
Meet the new CEO of the Twin Cities-based real estate behemoth you may not know exists

1 week ago | startribune.com | Jim Buchta

HomeServices of America might be the biggest real estate company even homebuyers and sellers don't know. The Twin Cities-based firm is the behemoth, behind-the-scenes owner for some of the nation's biggest and most popular real estate brands, including Edina Realty. The company, one of several Berkshire Hathaway Energy companies, has grown by acquiring dozens of national brokerages, which retain their local brand and image.
Competition for Twin Cities homes between $250K and $500K is fiercer than ever

2 weeks ago | startribune.com | Jim Buchta

What qualifies as a starter house - and what it means to be a first-time buyer purchasing one- has changed. It's familiar domain for move-up buyers seeking their next house to fit a growing family and downsizers looking to consolidate now that the nest is empty. But it's uncharted territory for first-time buyers, who are also older and wealthier than they have been. That means, roughly, that Gen Z, millennials and baby boomers are duking it out for a dearth of listings.
Ever-changing mortgage rates putting more pressure on Twin Cities homebuyers

3 weeks ago | startribune.com | Jim Buchta

The latest data for the week ending April 5 showed buyers are feeling the pressure. In the Twin Cities, buyers signed 1,043 purchase agreements, nearly 20% more than last year at this time, according to the St. Paul Area Association of Realtors. Sellers, meanwhile, listed 1,534 properties, about 200 more than the week before and 8% more than the prior year.
An inside look at some of the expensive houses for sale in Minneapolis

1 month ago | startribune.com | Jim Buchta

Lake of the Isles The thoughtfully designed, hi-tech house replaced a much older one in 2018. The seller, an executive who is moving out of state for work, commissioned the house specifically for its prime site. "It has the most striking treetop views over Lake of the Isles and toward the downtown skyline," Regan said. "To get new construction on Lake of the Isles is a rarity." TEA2 Architects designed this home as well as the $68 million listing on Lake Minnetonka.
Now is the best time in years to go house-hunting in the Twin Cities

1 month ago | startribune.com | Jim Buchta

For the first time this decade, homebuyers are gaining an edge in a market sellers have commanded for years. House-hunters having slightly more time and less competition to make the biggest purchase of their lives might not seem like much. But the added leverage is perhaps a wee reward for dealing with the harsh reality of higher mortgage rates, few listings, rising insurance costs and record home prices. Or it's a sign of sellers orchestrating their own undoing.
A beginner’s guide to downsizing

1 month ago | texarkanagazette.com | Jim Buchta

For most dream-seeking retirees, moving is not on their bucket list. More than three-quarters of older American homeowners plan to stay in their current home and age in place, according to a survey by Redfin, a tech-based real estate brokerage. That's wishful thinking, said Lauren Bednar, owner of Oasis Senior Advisors. Her senior placement agency helps older adults navigate their way through the often-fraught process of downsizing their life into an age-appropriate home.
Move over, Airbnb! Mid-term rentals are the new game in town

2 months ago | gmtoday.com | Jim Buchta

When a string of hurricanes ravaged the East Coast this past fall and a cluster of wildfires burned the Los Angeles area in January, tens of thousands of displaced people suddenly needed shelter. A Twin Cities-made website specializing in mid-term rentals — stays of longer than a vacation but not more than a year — hopes to help these refugees and others find temporary, but stable housing while rebuilding or searching for a permanent place.
Move over, Airbnb! Mid-term rentals are the new game in town

2 months ago | thebrunswicknews.com | Jim Buchta

When a string of hurricanes ravaged the East Coast this past fall and a cluster of wildfires burned the Los Angeles area in January, tens of thousands of displaced people suddenly needed shelter. A Twin Cities-made website specializing in mid-term rentals - stays of longer than a vacation but not more than a year - hopes to help these refugees and others find temporary, but stable housing while rebuilding or searching for a permanent place.
Move over, Airbnb! Mid-term rentals are the new game in Twin Cities and beyond.

2 months ago | startribune.com | Jim Buchta

Move over, Airbnb! Mid-term rentals are the new game in Twin Cities and beyond. Stays of longer than a vacation but not quite a year are gaining popularity rather than short-term lodging or long-term leases. Jon Wolf outside a home in Robbinsdale he owns and leases through his MiniStays rental platform on March 3. Wolf recently launched a Twin Cities-based "mid-stay" vacation rental platform.