Housing Peak 10 Years Away Is Not All Bad News

An interesting article.

I, for one, feel good about the future of real estate, both in terms of a personal business and as a positive (long-term) investment for home buyers and owners.

If we haven’t yet hit “the bottom”, it certainly can’t drop much further. Sure there is probably another round of foreclosures to keep prices low for first time buyers (and to keep Realtors working really hard to show and sell the large volume of inventory), but with homes in nearly move-in condition selling as low as $30,000 (Phillips neighborhood), I can’t imagine them selling lower.

It will definitely be a long climb back up. Millions of people are going to have homes that are “under water” for several years.

These past few months, I’ve learned a great deal about the process of mortgage modifications, and how to prepare a home for a possible “short-sale”.

I’m open to dish out advice to anyone who needs it.


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Still Here.

Been extremely busy as of late with buyers doing their level best to take advantage of the First Time Homebuyer Tax Credit before it expires at the end of November.

That has me keeping listing agents selling short sales and foreclosures on task to get offers approved, and mortgage underwriters on schedule to get deals closed on time.

It’s a lot more work then it was just two years ago, and with prices so low, the commission at the end of the deal is about a 1/3rd of what it used to be as well.

I had taken some seminars on how to break into the REO business; listing dozens of foreclosed properties with only one or two corporate entities for clients…

But you know what, that’s not me. I’m a buyer’s agent, and a damn good one.

I’ll keep showing houses (by bicycle), I’ll continue to get buyers into their new homes, I’ll weather this out.

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2008 Minneapolis Bicycle Counts

The numbers are in and there is no denying that more and more people are turning to bikes as a means of transportation.

The 2008 Minneapolis Bicycle & Pedestrian Count was conducted by the Public Works Department, the purpose of which is fourfold

• To understand the relative importance of various streets and trails for bicyclists
and pedestrians.
• To understand the load that bicyclists and pedestrians carry on various streets, in
comparison to motor vehicle occupants and transit riders.
• To understand the extent to which bicyclists use streets versus sidewalks.
• To measure the effects of improvements made to streets, with particular
emphasis on projects funded through the Non-Motorized Transportation Pilot
Program (NTP).
Improved understanding of the former three purposes can be gained in this report.
Measurements of the latter purpose will come in future years as NTP projects are built

Highlights of the report as it pertains to cyclists are:

• The number of bicyclists counted at 30 locations increased by 15% between
2007 and 2008.

• 15th Avenue SE north of 5th Street is the busiest location for biking among 128
count locations, with an estimated 3,570 bicyclists per day.

• East River Parkway north of Franklin Avenue carries the highest bicyclist mode
share (17%), among 65 count locations.

The full report can be viewed as a PDF HERE

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Beginning Aug. 5th, 2009, The Hub Bike Co-Op is having an extraordinary sale. You are able to purchase select, in-store 2009 models of bikes at the same price we, the workers at The Hub, pay.

Bikes from Giant, Bianchi, Marin, Orbea, Civia, Vicious and Redline are all priced from 10%-30% off our normal low prices.

If you’ve been waiting for prices to come down before you bought your new bike, WAIT NO LONGER!

Here are just a few examples of the ridiculously low prices:

Bianchi Pista was $699.99; NOW $489.99

Bianchi San Jose was $799.99; NOW $559.99

Bianchi Parco was $519.99; NOW $363.99

Redline 925 (our best selling bike!) was $579.99; NOW $405.99

Vicious Casual Agent was $2399.99; NOW $1679.99

Civia Hyland Alfine was $2160.99; NOW $1512.69

Marin Muirwoods 29er was $629.99; NOW $440.99

Marin Alpine Trail was $729.99; NOW $510.99

All New Bikes Receive The Hub Bike Co-Op’s Exclusive CUSTOMER CARE PACKAGE, as well as 10-15% off all accessories for up to a month from the date of purchase!

This sale is going on at both locations of The Hub Bike Co-Op
3020 Minnehaha Ave. S.
Minneapolis, MN 55406
301 Cedar Ave.
Minneapolis, MN 55454

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Saftey In Numbers

From today’s Star Tribune:

Although recent fatalities highlight the risks of sharing the road, statistics show there have actually been fewer bicycle crashes and injuries in Minnesota — at a time when more people are riding bikes.

By BILL McAULIFFE, Star Tribune

A string of recent bicycle deaths may make Minnesota seem like a dangerous place for cyclists. But in fact, the safety trend is going the other way as more Minnesotans take to their bikes.

How could that be when the number of deaths this year from bicycle crashes is on pace to supersede the toll in 2008 — when 14 deaths were the most in eight years?

A closer look reveals that the numbers of both bicycle crashes and injuries are down statewide, even as the number of bicyclists is increasing.

There’s safety in those numbers, some say, because it makes drivers constantly aware they’re sharing the road with bicyclists.

“I believe we’re in a state of rapid change, with the number of people using bikes for transportation,” said Tim Springer, executive director for the Midtown Greenway, likely the most popular bicycle commuter corridor in Minnesota.

“Everybody’s on a learning curve — bicyclists and motorists. Fast-forward 10 years and we’ll have a lot more of it figured out. Laws will be different, and behaviors will be different on all sides,” Springer said.

“But it means that in the meantime, we all need to be really careful,” he added. “Things are unclear.”

Cycling swells in Minneapolis

Crashes and injuries are down markedly in Minneapolis, where the number of people who use bikes for transportation continues to swell.

The Midtown Greenway saw a 24 percent increase in ridership in the first four months of this year, compared to the same period of 2008. Ridership from March through December last year was up 32 percent over the same period the year before, said Shaun Murphy, coordinator of a nonmotorized transportation pilot program for the city.

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Another Happy Buyer

Another recipient of funds from the Minneapolis Advantage Program.

Sweet house.

Great Rate.

$10,000 toward downpayment and closing costs.

Life Is Good.

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Big Sale News-Shameless Plug

During the Tour de France, The Hub Bike Co-Op is having a sale on some excellent bikes, accessories and key components.

– 10% or more off road bikes (includes special orders and custom builds)

Civia, Orbea, and Vicious bikes on sale

– 15% off shoe pedal combos

– Tons of apparel discounted

But here’s my favorite part;


For the duration of the sale, all of our track/singlespeed wheelsets are 10-40% off!!!!!

DP18 wheels, in all colors (normally $199-$220) are now $179.99!

All Velocity Deep-V wheels (normally$299-$420) are now $250.00!

To make things even better, The Hub has just acquired every Dia-Compe MX-806 brake that we could get our hands on, I’m willing to bet we’re the only shop in the Midwest that has ’em!

These are the ONLY long reach, dual-pivot calipers that work on bikes with forks on older 27″ wheeled bikes (these usually cannot accept modern brakes with recessed bolts, unless you drill out the fork, sketchy). Now you can finally convert the old 27″ wheels to those pimp 700c wheels you’ve had your eyes on, save a bunch of $$$, AND be able to actually stop!

We have these brakes in silver and black for $28.99.

Time to take that old road frame and give it a second life as your new fixed gear/commuter/hipster/cool cat about town bike.

I’ll be there all weekend, just ask for Christopher.

Do It! Then go watch the Tour at the Riverview Theater (how cool is that?).

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