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

Minneapolis Duplex Sellers Come Out In Numbers 09.16.14

Comments Off

???????????????????????????????????????????????????????The biggest news in the Minneapolis and St Paul duplex market for the week ending September 6, 2014 is the absolutely robust number of new listings that came on the market.

A shopping 33 new duplex, triplex and fourplex properties appeared on the MLS as new listings. This represents a 42.4 percent increase over the number of new listings that came on the market last year.

Of the sellers who put their properties on the market, 93.9 percent will not have to negotiate with a bank in order to agree to the terms in a purchase agreement. Ironically, this is down ever so slightly from the 94.7 percent of last year’s 19 sellers who could say the same.

There was almost as good of news on the pending sales front. There were 20 owners who accepted offers during the week, 85 percent of whom have equity in their properties. The average off market list price for these duplexes was $221,292.

Last year, there were 16 sellers who accepted offers. And while it’s still market share, just 75 percent of those folks did not have to negotiate with a bank in order to sell. Ironically, the 2013 sellers managed to average $236,342 as a final sales price; a number higher than the average list price for the group this year. Going forward, let’s hope this doesn’t become a pattern.

In the single family market, new listings were up 9 percent for the week. Pending sales took a small step forward, up 1.4 percent over last year. However, overall inventory was up 9.7 percent.

This resulted in the average number of days on the market rising 2.9 percent in August 2.9 percent to 68, as well as the Months Supply of Inventory climbing to 4.4 percent. A market is considered balanced between buyers and sellers when there is a 5 month supply of inventory.

Anything more and it once again becomes a buyer’s market.

 

continue reading...

Minneapolis Buyers Urgently Need Duplexes! 09.15.14

Comments Off

URGENTIf you’re even kinda sorta thinking about selling your Minneapolis or St Paul duplex, I sure could use your help.

I currently have two sets of buyers facing rapidly approaching deadlines to buy a duplex.

The first, David and Gale, are empty nesters who are downsizing from the family home. They are looking for something with at least one three bedroom unit, or a two bedroom unit and either a mother-in-law apartment (non-conforming is ok) or a space they could finish. She works from home, and needs a space to set up shop.

They are looking anywhere from the western suburbs to Cathedral Hill. As they’ve had a more suburban lifestyle due to children, they are now seeking a more walkable location. They are not opposed to some work, but would prefer a property that’s had essential maintenance done.

While like everyone they would prefer to spend less, for the right property they’re willing to go to the mid $400′s. And yes, we’ve seen everything currently on the market.

My second buyer is a seasoned investor who is selling a portion of his portfolio in order to own properties a little closer to home. Home is the south metro, so anything from the Mississippi River to St. Louis Park will do. In the next six weeks he needs to find between four and eight replacement duplexes, triplexes or apartment buildings to do a 1031 exchange into.

You don’t have to be either completely ready or decided to sell. We can do a “One Time Showing Contract”, which means you’d sell if a specific individual wanted to buy your property at a pre-determined price. If that doesn’t happen, life goes on, just as it did before.

Call or email me at the number at the top right of the page. It could be the easiest property sale you’ve ever made!

continue reading...

Signs Of Fall In The Minneapolis Duplex Market 09.09.14

Comments Off

If you look carefully, you will start to see signs of fall. Some of the leaves hThree maple autumnal leaves. Topview.ave a subtle change in tint, and the air has a different smell and feel to it than it did one month ago.

There are similar small, almost invisible signs of change in the Minneapolis and St Paul duplex market as well.

There are currently 589 active duplex, triplex and fourplex listings on the Multiple Listing Service. While this sounds relatively small, it’s important to note this represents nearly a seven percent increase in inventory from August of last year.

In fact, for the week ending August 30, 2014, there was an 11 percent increase in the number of new multifamily listings on the market in the metro than the same week in 2013.  The vast majority, at 92.8 percent, are owners who will not have to consult a bank to receive permission to sell. Last year, just 68 percent of the new sellers could say the same.

Of those sellers who accepted offers, 73 percent were traditional, equity sellers. While this market share is lower than it has been over the summer, it still represents a significant increase from the 57 percent of new sellers in 2013. The average final list price for these properties was a whopping $266,233; up significantly for the average sold price for the week in 2013 of $178,989.

On average, 2014 sellers are accepting offers at 94.3 percent of their initial list price. The median list price for sold multifamily properties to date in 2014 is $174,900. Last year, sellers were accepting offers at, on average, 100 percent of their median price of $155,000.

Perhaps the biggest sign of an impending change is we currently have a six month supply of inventory on the market. What this means is if there was no new inventory for buyers to choose from, it would take six months for the current buyers who are looking to absorb everything that’s for sale. One year ago, there was a five month supply.

It’s important to note a real estate market is considered balanced when there’s a five to six month supply. In other words, neither the buyer nor the seller is in the driver’s seat.

And that’s a long way from where we’ve been.

 

 

continue reading...