Summary. Minneapolis is the largest city in the State of Minnesota, and directly adjoins it’s twin city, the state capital of Saint Paul. Minneapolis–Saint Paul is the 16th-largest metropolitan area in the U.S., containing approximately 3.4 million residents. Since the year 2008, Minneapolis Real Estate has expanded not just along the 494 spur in communities such as Woodbury, Cottage Grove, Maplewood, Plymouth, Edina, and Eden Prairie but throughout a re-vitalized downtown sector.
Whether you are overlooking the river or near the U of M campus, you understand the nuances of city living and the differences in homes and condominiums in these areas and how values can change from street to street. We understand that Minneapolis offers a wide choice of housing alternatives. Each of the neighborhoods as well the unique towns within the area have varying access to the local amenities and accessibility to downtown Minneapolis as well as the vast array of lakes and recreational areas available. As much as people outside the Twin Cities like to lump the locations together, each of the towns are unique and care must be taken to evaluate the differences in each area.
Education. School districts and the proximity to the highway system are often determining factors when new residents begin their search for a home in the area. As such, these factors can have a direct impact on your valuation. Lot size and subdivision amenities are also important to buyers in these markets. Wherever your home resides, it is important that your appraiser be familiar with the impact that all of these factors can have on your home’s value.
Commerce. Minneapolis-St. Paul is the center of economic activity in Minnesota containing America’s fifth-highest concentration of Fortune 500 companies including Target, U.S. Bancorp, Xcel Energy, Ameriprise Financial and Thrivent Financial for Lutherans. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery.
Technology. Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that Popular Science named Minneapolis the “Top Tech City” in the U.S. The Twin Cities ranked the country’s second best city in a Kiplinger’s poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals. All of these factors contribute to a unique and ever-changing housing market that requires a distinct local perspective.
Call us today. Let us answer your questions and show you how we are changing the way transferees think about home relocation appraisals.