Buy Anything You Can Get Under $150,000.
Homes under $150,000 in Minneapolis neighborhoods excluding North Minneapolis are disappearing.
I remember seeing this a few years ago. The $150,000 homes of now were $100,000 in 2009 -2011. Now it is hard to touch $120,000 in NE and South. The key is getting a buildable lot. Anyting 40 by 127. My neighbor bought his house 40 years ago for $30,000 in Kenny. Now its worth $300,000.
Those $150,000 homes will be $1,500,000 in 40 years. The buildable factor is huge. Supply is limted. If you have any thoughts of selling now is the time. We will probably not see a time like this for a while. Once inventory levels, level off it is going to become much hard to sell.
If you are on the buy side look for good lots under $150,000 with a house on it. Don’t worry about the house long term. Think about the lot. I like Longfellow, St Anthony East and West, and North Loop next 3 years.