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 thatís a good investment. Click here for a neighborhood duplex specialist who can help you meet your financial goals.

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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.

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

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Kari Lundin, Keller Williams Realty Integrity

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

Featured Articles

Minneapolis Duplex Sellers Get Burst of Energy 07.15.14

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Sometimes, the well runs dry. And after six years of consistently blogging about Minneapolis and St Paul duplexes, triplexes and fourplexes, in late May and June, mine did just that.

I apologize for that.

The good news is, the market  has changed. And after some time away to recharge, I am once again loaded with topics to write about.

But let’s start with the basics.

In the week ending July 5, 2014, 28 Twin Cities duplex, triplex and fourplex owners received and accepted offers on their properties. Of these, 88.9 percent are traditional sellers with equity in their properties. On average, these investment properties left the market at a list price of $236,455.

During the same week last year, 15 property sellers received and accepted offers. On the surface anyway, these folks appeared to fare better than this year’s sellers with an average sales price of $296,360.

While I haven’t yet tracked enough weeks to conclude this is a sign of a market shift, it is important to note that new listings for the week were up 18 percent over last year. An increase in inventory may be responsible for price stabilization, as more properties on the market reduce the amount buyer competition. Again, only time will tell if this is the case.

The single family home market also appears to be undergoing something of a shift. New Listings for the week were up 14.8 percent over the week in 2013. Pending Sales were up as well; rising 17.4 percent. Overall Inventory also increased– by 7.7 percent, which may suggest the start of a return to a more balanced market.

Next week’s report is sure to tell us more.

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Twin Cities Duplex Sellers Win By A Nose 05.20.14

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race horsesIf the Minneapolis and St. Paul duplex markets were a horse race,  the first weeks of May in 2013 and 2014 would be neck and neck headed for the wire.

For the week that ended May 10, 18 Twin Cities duplex, triplex and fourplex sellers accepted offers on their properties. While this is one less than a year ago, the average final list price was $265,167. This is up dramatically from last year’s average sold price of $179,619.

This pricing disparity can’t be attributed to the presence of distressed properties, as just this year just 4 properties involved a bank in the negotiations, compared to 5 last year.

If duplex buyers had bet on increased inventory, it looks like it was a long shot. There were 38 new listings for the first full week of May, down one from last year. What’s different, however, is of those 38, 89.5 percent have equity in their properties. Last year, just 35.9 percent of the sellers could say the same.

Meanwhile, the number of New Listings in the single family home market surged ahead of last year by 6.5 percent. Pending sales faced a tougher race, up just .1 percent over last year. The good news for home buyers is overall Inventory increased 3.5 percent. This may provide a few more choices for frustrated shoppers.

Let’s hope the return of spring makes everyone a winner.

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Minneapolis Duplex Prices Changing History 05.14.14

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History Book And Character Shows Books About The PastHistory dictates that when traditional duplex sellers dominate the marketplace, prices go up. And when foreclosures and short sales are plentiful, prices decline.

At least, that’s how it’s been in the past.

The spring Minneapolis and St. Paul duplex market, however, is rewriting history.

For the week ending May 3, 2014,  there were 24 Twin Cities duplex, triplex, and fourplex owners who accepted offers on their properties. The vast majority, at 87.5 percent, have equity in their properties and will leave closing with a check in their pocket. And yet, the average final list price on these properties was just $159,569.

During the same week last year, there were 27 small multifamily property owners who accepted offers. Just 51.9 percent did not involve negotiating with a bank in order to sell. However, this was not reflected in the average sales price of $212,104.

Traditional sellers also contributed 87.9 percent of the 33 new listings for the week. Meanwhile, only 61.5 percent of 2013’s new listings for the week belonged to sellers with equity in their properties.

The single family home market saw the number of New Listings for the week increase slightly; up 1.4 percent over last year. Meanwhile, Pending Sales dropped 13.4 percent. The combination of the two helped total Inventory rise 2.6 percent.

For the month of April, the Median Sales Price rose 7.6 percent to $196,425. This may be the result of the persistence of a seller’s market, where home owners are receiving 95.8 percent of their asking price within 89 days of being on the market.

Twin Cities duplex sellers are certainly hoping to see that trend return to duplex prices.

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