Weekly Market Activity Report from MAAR

Low mortgage rates, high affordability and government programs designed to encourage home purchases are continuing to spur home sales this spring despite an iffy economy. The week ending April 18 was the fourth consecutive week of pending sales activity that was more than 20 percent higher than during the same week in 2008. There were 1,083 pending sales for the week, up 21.3 percent from this time last year. It was also the third consecutive week of 1,000-plus unit sales, a first-time occurrence since 2006.

All these sales are quickly whisking inventory off the market at a time when new listing inventory is not growing at its typically robust spring rate. The number of total homes for sale is down 18.4 percent from a year ago at 26,318. As a result, the gap between this year's supply of homes and that of previous years continues to grow.

Weekly Market Activity Report from MAAR

Hopeful signs of a Twin Cities housing market recovery carry on thanks to a combination of no growth in the spring supply of homes for sale and still-improving sales figures.

Helping to keep inventory down is slow new listing activity, a metric that has been sluggish all year. For the week ending April 11, there were 20.7 percent fewer new listings than there were during the same week in 2008. Pending sales are still trending in the opposite direction, up 21.9 percent in year-over-year numbers to 1,046 for the week. That's only the second week of 1,000-plus pending sales or more since May 2007. If these two metrics persist, the market could be in for some serious re-balancing.

With the Housing Affordability Index reaching 218—an increase of 40.8 percent over last year—it seems to be an awfully good time for buyers to get off the wall and on the dance floor...being mindful that 29.1 percent of the dance partners are lender-mediated.

CLEAR OUT THE CLUTTER

Spring is here and over the past few weekends I have noticed all the people cleaning out their garages and homes. Trash bins are overflowing with all the unused and cast off items that gathered dust all winter.

Are you one of these people? If so, instead of tossing out all that stuff come and visit us at the Annual Coldwell Banker Burnet for Bridging Event on Saturday April 25th, 2009 from 10-2.

Bridging is a non-profit organization that offers free household items and furniture for families in transition.

Tax receipts for donations are available.

Call us for more information! 952.470.2575

Open Houses for Sunday, April 19th, 2009

Stafford Family Realtors are excited to announce our open houses for this upcoming Sunday. If you miss the ads in the Star Tribune, here is more information.


8500 Cedar Court, Victoria Open: 12-2
$349,900
4 Bedroom / 3 Bath / 3 Car Garage

Our newest listing! This beautiful custom built home from Sondegaard Forcier is finished with Pottery Barn touches. Freshly painted and newly enameled Kitchen accent the spacious open Great Room Floor plan. Featuring a Main Floor Office and large back yard.


606 Carver Bluffs Parkway, Carver Open: 12-2
$459,000
4 Bedroom / 4 Bath / 3 Car Garage

Sighted on the breath taking Carver Bluffs, this former Hans Hagen Model home is loaded with all the high-end amenities. Stainless Steel Appliances, Quartz Counters, Hardwood Floors, 2 Stone Front Fireplaces, custom stained built-ins on every floor and a Two Story Dining area.


3120 Shores Boulevard, Minnetonka Open 12-2
$215,000
3 Bedroom / 1 Bath / 33 Car Garage

Just steps from Lake Minnetonka and two neighborhood parks, this newly remodeled home features new everything! New windows, sliding glass patio door, Hardi Plank siding, new floors throughout, new kitchen, new appliances, new mechanicals, new bathroom, NEW, NEW, NEW!


9108 Overlook Circle, Chanhassen Open: 2:30-4:30
$520,000
5 Bedroom / 4 Bathroom / 3 Car Garage

Located in demand Springfield of Chanhassen, walk to Lake Riley, Bandimere Park or any of the many walking trails. The new Hwy 212 extension offers easy access to the entire metro area. Upgrades include a Gourmet Kitchen with Granite, Great Room floor plan and a loft that can be converted to a 4th bedroom on the second floor.

We look forward to seeing you on Sunday. For more information, please contact Stafford Family Realtors at 952.470.2575 or visit www.StaffordFamilyRealtors.com for more information on these or any of our other listings.

Weekly Market Activity Report from MAAR

It's becoming a wild and active spring for the Twin Cities housing market. First, pending sales ought to give REALTORS® some joy in their Easter baskets, with 1,004 reported for the week ending April 4—a 28.7 percent increase over last year and the best single week since May 2007. New listings went skyward compared to last week with 2,055 for the week ending April 4, but they remain 11.2 percent behind the same week a year ago.

The recent jump in sales is bringing the supply of available homes down even further. There are currently 26,085 homes on the market in the region—17.5 percent below this time last year and good for 7.7 months of supply.

Finally, like Warren Robinett in Adventure, this week's WMAR has its own Easter egg tucked away. The Housing Affordability Index for April has grown to 218, which means the median family income is 218 percent of what's necessary to qualify for the median priced home. For those of you scoring at home, that's a 40.8 percent increase over where we stood last year at this time and is 77.3 percent over our low point of 123 in July 2006. We have to bear in mind that increased lender-mediated activity makes that number supernaturally high.

All in all, dropping prices, low mortgage rates and government incentive programs for home buyers are making this a spring to remember.

Two Great New Listings!!!!

We are pleased to announce two great new listings brought to you by Stafford Family Realtors.

8500 Cedar Court, Victoria MLS# 3668083
$349,900
4 Bedroom / 3 Bath / 3 Car Garage
Pottery Barn beautiful, this home has been freshly painted and shows wonderfully. Newly Enameled kitchen cabinets. Main Floor Office can be used as a separate formal Dining Room or Bedroom. This home features amazing living spaces including a Great Room, Master Suite with private Bath and a Large Eat-in Kitchen.

6461 Oriole Avenue, Chanhassen MLS# 3667982
$259,000
4 Bedroom / 2 Bath / 2 Car Garage
This one won’t last long! Priced to sell, this home is NOT a short sale or foreclosure. Sited on a large lot with mature trees, just steps to Lake Minnewashta, schools, shopping and parks. Amenities include an updated Kitchen, beautiful hardwood floors under carpet in Dining/ Family Room, 3 Wood burning Fireplaces, 2 Full Baths and much more to see.

For more information on these or any of our other listings, please visit StaffordFamilyRealtors.com or call for a private showing to day.

952.470.2575

FIRST ANNUAL MOVIE EVENT

First off, we would like to thank all of our Friends and Clients who came and supported our FIRST ANNUAL STAFFORD FAMILY REALTORS MOVIE EVENT.

With your generous support, we were able to collect over 370 Pounds of food for the CAP Agency Food Shelf.

We had a great time watching Monsters vs. Aliens with all of you and cannot wait for next year when we will try to top our numbers!

THANKS AGAIN!!!

Open Houses for April 5th

We have some great homes open this Sunday!

1340 Alpine Pass in Golden Valley.
1-3:00 PM

We recently received a $20k Price Reduction on this Beautiful Condo Alternative in Tyrol Hills. Situated on a double lot, this home features a Gourmet Kitchen, beautiful Wood Floors and a totally remodeled Bathroom.

910 Anthony Way, Victoria
12-2:00 PM

Just Listed! This twin home lives large. Built from the specs of the model, you will find Granite, Custom Stained mill work and much more. This is main level living at its best!

6605 Mulberry Circle East, Chanhassen
1-3:00 PM

Pottery Barn finishes accentuate this home in award winning Minnetonka Schools. This is a great opportunity.

Please visit StaffordFamilyRealtors.com for more information or call 952.470.2575.

Top 10 Most Heavily Taxed States

It’s April, so people’s thoughts are turning to taxes, and where they live makes a big difference in how much they pay.

Here are the 10 states with the highest taxes, including property, individual income, sales, alcoholic beverages, tobacco, motor vehicles, hunting and fishing, motor fuels, death and gift taxes, as well as insurance premiums. The per capita tax was derived by adding up all the taxes and dividing the total by the number of citizens.

1. Vermont, $3,861
2. Hawaii, $3,856
3. Connecticut, $3,596
4. Minnesota, $3,203
5. New Jersey, $3,024
6. New York, $3,019
7. Massachusetts, $2,953
8. Washington, $2,553
9. Wyoming, $2,357
10. Pennsylvania, $2,223

Source: Forbes, Matt Woolsey (03/30/2009)