Your National Resource For Duplex Ownership

National Resources for Duplex Owners

Welcome to DuplexChick, your online destination for duplex ownership information.

Whether you're thinking of buying your first duplex home, or an experienced investor looking to sell, DuplexChick can provide you with up-to-date market information, tips on investment property ownership, and when youíre ready to buy or sell, help you find a Realtor who specializes in these unique properties right in your area.

Considering Buying? See how a duplex specialist can help you get a better deal

Considering Buying?

While every Realtor can sell you a home, not every agent can do the necessary financial analysis to find a duplex that is a good investment. Click here for a neighborhood duplex specialist who can help you meet your financial goals.

Sign Up For Our Free Duplex Buyer's Guide

Considering Buying? See how a duplex specialist can help you get a better deal

Considering Buying?

Unlike single family home owners, duplex owners facing foreclosure must also contend with potential tax consequences. Whether you are an owner occupant or duplex investor enduring the stress of being behind on mortgage payments, or needing to sell even though you owe more than your duplex is worth, a short sale can help reduce damage to your credit and tax obligations.

During this stressful time, let one of our Realtors who is an expert carry the load.

Thinking of Selling?

What If I Need To Sell? Regardless of market conditions, learn the tips and tricks to maximize your equity!

Sign Up For Our Free Duplex Seller's Guide

Kari Lundin, Keller Williams Realty Integrity

7401 Metro Blvd Suite 350, Edina, MN 55439 tel. (612) 290-5998

Featured Articles

Twin Cities Duplex Market Continues To Bloom 04.21.15

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duplex market springs to lifeThe spring Minneapolis and St Paul duplex market is well under way, in spite of what the temperature outside may say.

In the week ending April 11, 2015, 22 Twin Cities multifamily property owners received and accepted purchase agreements on their investment properties. Of these, 82 percent will leave from closing with a check in their hands rather than a settlement with their banks. When those sellers accepted offers, they did so at an average off market list price of $217,903.

One year ago during the same week, just 13 sellers accepted offers on their duplexes. One hundred percent of those sellers were able to deposit a check in their bank accounts. On average, these sellers realized a sales price of $258,496.

It seems Minneapolis and St Paul duplex owners are finally realizing it’s a good time to sell. Forty of them put their properties on the market during the week, with all but one of them having equity in their properties. Last year, there were just 30 new duplex sellers during the same time, with 87 percent being equity sellers.

The single family home market saw the number of New Listings increase 9.7 percent for the week, while Pending Sales jumped 17 percent. Overall Inventory  decreased .2 percent.

For March, the Median Sales Price of a single family home was up 10.5 percent to $210,000. The average number of Days on Market also rose 7.4 percent 10 102. Nonetheless, sellers continue to receive 95.9 Percent of Original List Price.

Once again, the Months Supply of Inventory rose by 3 percent to 3.4. A balanced market, where both buyers and sellers have equal negotiating power, occurs when there is a 5-6 month supply of properties on the market. However slowly it may be, it does appear we are heading in that direction.

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Everything About Minneapolis Duplexes Is Coming Up Roses 04.07.15

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Bouquet of rosesEthel Merman may as well have been belting about the Minneapolis and St Paul duplex market the week ending March 28, 2015, when she sang “Everything’s Coming Up Roses”.

There were 22 Twin Cities duplex, triplex and fourplex owners who accepted offers during the week. This is almost double the 12 sellers who did the same for the week in 2014.  Almost 91 percent of this week’s successful sellers will emerge from closing with an equity check in their hands.

The average off market price for pended duplex listings was up slightly over last year; from $201,455 to $204,472.

There was good news for buyers during the week as well. Twenty-seven new listings came onto the market, 85 percent of which are being sold by traditional sellers. Last year, there were just 16 new listings during the same period, with 93.7 percent of them belonging to traditional sellers.

New Listings sprang up on the single family home market as well, rising 10.4 percent. Pending sales were up as well, with 1360 more sellers accepting offers; an increase of 27.6 percent. In continued signs of a slowing balancing market, the total amount of Inventory was also up 2.4 percent.

For now, though, life couldn’t be better if you’re in the market to sell your Minneapolis or St Paul duplex.

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Minneapolis Duplex Sellers Make A Comeback 04.02.15

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One horned rhinoceros in Kaziranga National ParkThe last few years duplex sellers in Minneapolis and St Paul were almost as endangered as black rhinos.

Duplex owners found themselves upside down, in an environment with little lending options and bottom-feeding buyers willing only to pay pennies on the dollar.

The recovering economy, low interest and vacancy rates combined with high rents, however, have helped Twin Cities duplex sellers make a roaring comeback.

The week ending March 21, for example, saw 35 new duplex, triplex and fourplex listings come on the market, 85.7 percent of them owned by equity sellers. Compare this to last year, when the week saw just 26 new listings, with 76.9 offered for sale by traditional sellers.

With more to chose from, buyers may have been taking their time during the week. Fifteen listed properties received offers, with 86.7 percent of those purchase agreements signed by traditional sellers. The average off market list price of these properties was $212,253.

During the same week one year ago, 18 listed properties went under contract. Of these, 78 percent did not involve a bank in the price negotiations. On average, these properties sold for $185,111.

The single family home market also saw a seller resurgence as the number of New Listings increased 22.1 percent. Pending sales also jumped, rising 27.1 percent.

However, as we discussed last week, we are starting to see an increase in Inventory, which is a sign we are moving toward a more balanced market. Overall Inventory was up 1.7 percent for the week. While that’s not a number that will immediately shift the balance, it continues to be one worth monitoring.

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