Thursday, August 28, 2008
8121 Krueger Court
4 Bedroom \ 4 Bathroom \ 3 Car Garage
Built by Reggie Award winner Kerber Homes, this stunning home is sited on one of the premier lots in demand Watermark and enjoys a spacious lawn, pond views and quiet, cul-de-sac setting.
2280 South Parkway
4 Bedroom \ 4 Bathroom \ 3 Car Garage
2280 South Parkway is a beautiful custom home with many amenities from the granite counter tops in your Gourmet Kitchen to the Custom Built-ins on every floor. The home features a two story Great Room with tray ceilings; built-in entertainment centers, and a ceiling to floor stone front fireplace and opens to a spacious Gourmet Kitchen with granite counter tops and stainless steel appliances. Just off the Kitchen is the 4 Season Porch. Four Bedrooms are situated on the second floor and the Junior Bathroom features a Jack & Jill vanity. The Lower Level Game room is outfitted with a full service Wet Bar, for all your gaming needs. Another stone faced fireplace is the corner stone of the Lower Level Family Room. Walk out of your lower level to the large backyard with plenty of room to roam and play. You can entertain on the custom landscaped fire pit all summer long.
Friday, August 22, 2008
Enjoy cottage style living in this picturesque, Lake Minnetonka setting.
This modern take on a classic design features four Bedrooms and four Bathrooms, complimented by a Nanny Quarters/ Mother in Law suite and Tram to the 64’ of sand bottom Rip-Rapped Lakeshore.
The gorgeous Kitchen has beautiful granite countertops and stainless steel appliances. Just off the Kitchen is an open and airy Sun Room. Adjacent to the Sun Room is your Family Room with a gas burning fireplace and views out to the lake.
The first floor also features the Suncrest Builders signature “Flex Room.” This room is yours to use in any way you want from a Formal Dining room to Home Office, the possibilities are endless.
Beautiful stone and workmanship accentuate this like-new construction Storybook style.
The Master Suite looks out on the lake with long, southerly views of Halstead’s Bay. A great sight to wake up to every morning.
Living at home is a Year-Round Vacation when you call 6563 Bartlett Boulevard “Home.”
Come and visit us this Sunday!
Tuesday, August 12, 2008
For the week ending August 2, there were 820 pending sales—an increase of 2.2 percent from the same week in 2007. Over the last three months, pending sales have held relatively steady, posting an increase of 0.6 percent from the same period last year. With sales tantalizing the marketplace with slight upward jiggering over the past several weeks, some might want to predict that we've reached bottom. While the news is encouraging, it's a bit premature to stake that claim. Meanwhile, housing supply is clearly in decline. New listings from the most recently reported week were a stirring 19.8 percent lower than last year and were down 12.8 percent over the last three months.
This week's edition of the MAAR Weekly Market Activity Report features updated figures for several key metrics. Days on Market Until Sale in July fell slightly to 146 but remains up 13.3 percent from July 2007. Percent of Original List Price Received at Sale decreased to 92.6 percent, also down from last year. Months Supply of Inventory is up 8.6 percent from last year at 10.5. And our Housing Affordability Index (HAI) fell 4 points from last month to 144 due to another increase in interest rates and seasonal increases in home prices. Despite the drop, the HAI remains much improved from 2006 and 2007.
Tuesday, August 5, 2008
Less supply coupled with promising signs of demand have created a new market picture. In August, our Supply-Demand Ratio (SDR) indicates that there will be 8.68 homes for sale per buyer, a decrease of 4.2 percent from one year ago. This is the second consecutive month of downward year-over-year movement in this metric, which is a good thing. A well-balanced market for the month of August would show an SDR of about 5 homes for sale per buyer. We have a ways to go, but we're on the right track if this trend continues
Monday, August 4, 2008
Here’s how it works:
The credit is $3,750 for married couples filing separately. Unmarried people who jointly purchase a home will be able to divide the $7,500 credit.
This program is actually a loan, which home buyers must repay over 15 years at zero percent interest beginning in the second year after they purchase the home. A home buyer who qualified for the whole credit would pay $500 for 15 years or about $41.67 per month.
The credit applies only to homes purchased on or after April 9, 2008, and before July 1, 2009.
High-income home buyers don’t qualify: Eligibility begins phasing out for single filers with adjusted income of more than $75,000 and $150,000 for joint filers. It completely phases out at $95,000 for singles and $170,000 for married couples filing jointly.
Source: The Washington Post, Michelle Singletary (07/03/08)
Recent reports on inflation have been dismal, but the central bank has also taken a tough stance in its language of late. The financial markets are more of a concern because of the problems at Fannie Mae and Freddie Mac, and the housing slump and tight credit conditions remain key economic issues for the Fed, analysts say.
"They need to see financial markets settled, some good growth numbers, or good employment numbers," says Mike Moran, chief economist at Daiwa Securities International in New York.
Source: MarketWatch, Greg Robb (07/28/08)
The total number of active listings for sale currently sits at 33,410, (comfortably) down 1,722 units—or 4.9 percent—from this time last year. Since the number of new homes coming on the market remains in decline and sales appear to have hit bottom, we can expect total inventory to remain lower than last year for some time to come.