The Best Housing Markets of 2010

Some U.S. housing markets have faired quite well regardless of the economic turmoil of recent years. These markets share a few things in common: modestly appreciating home prices, a high affordability rating, better-than-average economic activity and a low foreclosure rate.

Realty Trac, an online marketplace of foreclosure listings, estimates that 4.5 million foreclosure filings are expected in 2010, up from 2.8 million in 2009. This weighs heavily on the housing market. Foreclosures supply an excess of inventory that destabilizes home prices. Louisville, Kentucky, is fairing well partially because it has a 1.15% foreclosure rate, the lowest in the country, and about half the national average. Louisville – as opposed to some coastal cities and vacation destinations – never really encountered the boom so it’s been less affected by the burst.

Midwestern cities such as Indianapolis, Minneapolis and St. Louis have among the best housing markets largely because they have some of the best housing affordability rates in the country. Indianapolis had the highest affordability with 96% of homes affordable to families making the median income.

According to Forbes, Pittsburgh, Pennsylvania, has the best housing market in the country for a host of reasons: the second lowest foreclosure rate, a housing affordability rate of 85%, home prices anticipated to increase 2.67% in 2010, and a diversified and comparatively robust economy. This stable economy is largely due to Pittsburgh transforming itself, over several decades, from a center of manufacturing to one of education and health care.

Stable economic activity is also boosting the real estate markets in Tacoma and Seattle, Washington. The housing market in Memphis has faired well and is expected to improve, largely because the city’s largest employer, FedEx, will be one of the first industries to rebound in the economy recovery.

Published by Realty Trac

See what our clients are saying...

Stafford Family Realtors are getting great feedback from some wonderful clients! Look below to see how Stafford Family Realtors is rating with their clients!

“I likes the very professional, yet relaxed, attitude of both Eric & Sharla. It helped us feel more relaxed about the whole selling experience. We felt confident that our house was in good hands with ther strong work ethic and degree of experience. Also, they were both fun to work with. Thanks for your good work!”

Doug & Eileen Peterson

“You amaze me! The level of attention you provide to your clients, and the degree of consideration involved with your efforts toward excellence are beyond measure! More than my gratefulness is my awareness of your incredible attention and commitment to others! You are models of stewardship! Thank you so much!”

Mary Beth Moze


Stafford Family Realtors strive to offer the best experience whether you are buying or selling your home. We promise to protect your investment and treat your family as if it were our own.

Contact Eric or Sharla Stafford today for more information and your free market analysis of your home.

StaffordFamilyRealtors.com

Looking ahead to Spring? Here are a few helpful tips to get your home ready!

March 20th is the first day of spring. It may be hard to imagine that spring is actually only a few weeks away if you are still cranking up the heat in your home and shoveling snow from your driveway. But, it won't be much longer before old man winter will be sent packing. While you are waiting for the arrival of spring, here are seven things you can begin to think about to get your home ready for spring.

Windows - Your windows take center stage once the weather changes from cold to warm. Begin thinking about whether you will wash them yourself or hire someone to tackle the job. If you choose to hire someone, you'll want to make an appointment now before they become booked solid. Consider what window treatments you will use. Undoubtedly, you will want to switch to a lighter fabric and different color value that is more conducive to springtime.

Carpets / Flooring - Our floors take a real beating during the winter months. Whether you have carpet or hard wood, or whatever, chances are your floors could use some tender loving care. Again, will you tackle the job yourself or hire someone? And, once your floors are cleaned, consider using runners to keep the dirt from foot traffic to a minimum.

Outdoor living area - It doesn't matter what the square footage of your outdoor space is; what matters is that you make the most of it. Take a look at your outdoor furniture and determine what kind of care is necessary before you use them or if you need to start fresh with new pieces. If you have a fence, what kind of maintenance does it require? Who will cut and take care of your grass this year? If you have a wood deck, does it need to be stained?

Gardens - Boost your curb appeal. Begin planning your color scheme and the flowers you will plant this spring. Read up on the different flowers and plants and do something different this year.

Roof / Gutters - Ice (which can cause damage to roofs and leaks in the home), leaves, you name it, it could be up there. Hire a professional to clean them. This will help your curb appeal a great deal, too.

Foyer - The foyer of the home tends to be neglected and used as a pass through space. But, during warm weather, people linger a little longer. So, be sure to enhance the look of your foyer. Resist using it as a place simply to drop keys, mail, and take off shoes.

Entertainment Area - Company's coming. People are just more social during warmer months. Is your entertainment area inviting? Maybe now would be a good time to de-clutter and organize the space.

These are just a few projects you can begin before spring. Instead of looking longingly at the calendar wishing spring would hurry up, take this time to think about these projects so that when spring does arrive your home will be ready.

©Rena Bullard 2010 This article may be reprinted, in its entirety, with copyright information.
Rena Bullard is certified and trained as an Interior Decorator and loves to help people with design. Rena is an Expert writer for EzineArticles.com, contributed articles to the online magazine, The Decorator's Notebook, and writes her own blogs where you will find quick ideas on how to solve redecorating dilemmas. Rena interviews industry professionals and gives away free decorating tips as the host of her own blog talk radio show called, ReDecorating by Rena.
Contact Rena via her website: [http://www.redecoratingbyrena.com/]

New Non-MLS Listings & Open Houses

Open Sunday!

2395 Lukewood Drive, Chanhassen

MLS #3878893

12-2:00 PM

Stop in and check out this amazing family home in neighborhood of executive homes. Sited on a park-like .65 acres, this home offers one level living at it's best! Spacious rooms, large windows and great spaces for entertaing or relaxing. Stop in and check it out!

We have a few new Non-MLS Listings coming soon to market:

Timberwood Drive ~ Chanhassen ~ $475,000

This amazing family home is sited on 2.86 acres in Chanhassen. Enjoy country style living with all the ease of downtown Chanhassen. 3,160 Finished Square Feet feature 4 Bedrooms, 4 Baths, a fully finished lower level. Contact us today for a private showing!

Landmark Shorewood Estate

Call for Pricing

This English Manor Home is a landmark for residents of the Shorewood / Excelsior area. Sited on 1.72 acres covered with lush, professioal landscaping, this spacious home offers 4 Bedrooms, 3 Bathrooms and TONS of charm. Located on the grounds you will also find a Pool House with kitchenette and in-ground pool.

Eric & Sharla Stafford ~ 952.470.2575

10 Home Features Buyers Want

Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don’t have lasting value.“It's all about family togetherness – casual living, entertaining and flexible spaces," says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

~ Large kitchens with islands
~ Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
~ Home offices
~ Main-floor master suite
~ Outdoor living space
~ Ceiling fans
~ Soaking tub in the master suite and/or an oversize shower with a seating area
~ Stone and brick exteriors rather than stucco or vinyl
~ Community walking paths and playgrounds
~ Two-car garages, but three-car garages are even more desirable

Are you looking for a home with these features? Stafford Family Realtors have a selection of Exceptional Homes that fit most or all of the above mentioned criteria. Call us today or visit www.StaffordFamilyRealtors.com to see a list of all our homes for sale.


Source: MarketWatch, Steve Kerch (01/30/2010)

6 Surprising Facts About the Buyer Tax Credit

The homebuyer tax credit is not as simple or straightforward as you might think. Here are some nuances that will affect homebuyers who plan to use it.

- To qualify for the move-up tax credit, a home owner must have occupied the same principal residence for five of the last eight years consecutively.
- Buyers can elect to claim the credit on either their 2009 or their 2010 tax return, whichever is best for them.
- Buyers who claim the credit in 2009 can’t file electronically because the Internal Revenue Service hasn’t put the required forms on line. The wait for a refund is three or four months.
- The home can be a mobile home or travel trailer that is fixed to land owned or leased by the home owner. A mobile home or travel trailer that is actually mobile doesn’t qualify.
- The home can’t be purchased from a close relative, including a parent, spouse, child, grandparent or grandchild.
- A buyer who earns no taxable income or doesn’t owe any federal income tax can qualify for the tax credit and file a tax return just to claim it.

Source: Bankrate.com, Marcie Geffner (01/21/2010)

Newest Exceptional Home from Stafford Family Realtors

Trump Nets Big Profit for Florida Palace

Donald Trump has sold his Palm Beach mansion for $81 million, $24 million less than his asking price but up 150 percent from his $32 million 2004 purchase price.

A Russian fertilizer billionaire Dmitry Rybolovlev bought the 60,000 square-foot, oceanfront home. The property was renovated by Kendra Todd, a winner on “The Apprentice.”

Todd is said to have added lots of marble and 24-karat gold fixtures in the bathrooms.

Trump says, “ In an age of so many people getting hurt in real estate, it shows that you can still do well.”

Source: Daily Mall (01/26/2010)

JOB Fair

The recent recession has scorched the best of us. Erik Paulsen is hosting a Job Fair bursting with great community resources that will connect employers and potential employees

Date and Time:
Monday, February 8, 1:30 p.m. – 5:00 p.m.

Location: Normandale Community College (Cafeteria)

If you're looking to hire or know a business hiring, learn more about this free opportunity to connect with the public. There are no fees associated with participation or admission. Submissions due on January 29, 2009.

MORE INFORMATION LETTER FROM CONGRESSMAN PAULSEN

Housing Components Don't Last Forever

Many aspects of a home last little more than a decade. Home buyers should be especially vigilant about inspecting these household components because they have a relatively short lifespan, says the National Association of Home Builders.

• Aluminum roof coating: 3-7 years
• Enameled steel sinks: 5-7 years
• Security systems: 5-10 years
• Carpet: 8-10 years
• Smoke detectors: fewer than 10 years
• Faucets: 10-15 years
• Garage door openers:10-15 years
• Air conditioners: 10-15 years
• Asphalt: 12-15 years
• Termite-proofing during construction: 12 years

Source: Bankrate.com, Marcie Geffner (01/22/2010)

Minneapolis is in the Top 10 Smartest Places to Buy!

10 Cities Where It's Smarter to Buy

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.

To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 cities the magazine chose as the best places to buy right now.

1. Boston-Cambridge-Quincy, Mass.
2. Charlotte-Gastonia-Concord, N.C.-S.C.
3. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
4. Cincinnati-Middletown, Ohio-Ky.-Ind.
5. Denver-Aurora-Broomfield, Colo
6. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
8. Portland-Vancouver-Beaverton, Ore.-Wash.
9. San Francisco-Oakland-Fremont, Calif.
10. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

Contact Eric & Sharla Stafford for information on Relocation, Buying or Selling in the Twin Cities!

Great Tips as we head into Tax Season

With tax season approaching, here are a few tax incentives you'll definitely want to discuss with your tax professional.

Up first is the popular $8,000 tax credit for first-time home buyers. Originally scheduled to expire on November 30th, 2009, this valuable tax credit of up to 10% of the purchase price or up to $8,000 was extended into 2010 (purchase agreements must be signed by April 30, 2010, and closings must be final by June 30, 2010). The new program was also expanded to include a tax credit of up to $6,500 (or up to 10% of the purchase price) for qualified buyers of a second or "replacement" home under the same deadlines. To qualify, home purchasers must have owned and occupied a primary residence for five consecutive years during the last eight years. Most importantly, the new program significantly increases previous income requirements. There are other important guidelines to meet in order to qualify, so be sure to discuss your situation with a tax professional.

Property-Tax Deduction for Non-itemizers

You don't have to be a new homeowner in 2009 to deduct qualifying property taxes, but prior to 2008, you did have to itemize your taxes in order to receive the benefit – not anymore. Under the new rule, homeowners who don't itemize can boost their standard-deduction amount by up to $500 if they're single and up to $1,000 if they're married and file a joint return to account for property taxes paid during 2009. You'll need to include a Schedule L with your 2009 tax return, but it's definitely worth it if you qualify. Talk to your tax preparer and don't be one of the millions of taxpayers who will claim the standard deduction and miss out on the savings. Refinancing Points – When you buy a house, you get to deduct (all at once) the points paid to get your mortgage. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means you can deduct 1/30th of the points per year if it's a 30-year mortgage. It's not a lot of savings, but everything helps when you're legally trying to lower your tax bill.

Energy and Home Improvements Credits

Homeowners can make energy-conscious purchases that will provide tax benefits when filling out their tax returns for 2009. The new law provides tax credits for making your principal residence more energy efficient and for buying certain energy efficient items. Residential Energy Property Credit – The new law increases the energy tax credit to 30% of the cost of all qualifying energy-efficient improvements to existing homes. It also raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010. Qualified improvements include adding insulation, energy efficient exterior windows, energy-efficient heating, air conditioning systems, and more. A similar credit was available for 2007, but was not available in 2008. Ask your tax professional about the IRS' issued guidance, deadlines, and other important qualifying factors for this and the following tax credit. Nonbusiness Energy Property Credit – You can receive a tax credit of 10% of the purchase price of qualified energy-efficient products installed in the taxpayer's main home in the United States. The tax credit for home improvement purchases is limited to $500 and applies to the total credit you can claim for all years combined.

Other 2009 Tax Breaks

New Car Purchases – If you bought a qualifying new car or truck ($49,500 or less) between February 16 and December 31st, you may be able to deduct the sales or excise tax. Your income must be less than $125,000 for a single taxpayer or $250,000 for a couple to get the full deduction. The benefit applies to more than one vehicle, as long as all of them qualify and delivery was taken by Dec. 31.

Unemployment Benefits – Unemployment benefits are usually fully taxable. If you received any unemployment benefits at any time during 2009, however, you are eligible to exclude the first $2,400 of these benefits when you file your tax return. For a married couple, the exclusion applies to each spouse separately.

Moving expenses – If you were unemployed in 2009 but you got a new job, moving expenses may be deductible, if you moved more than 50 miles away – and you don't have to itemize to get it. For 2009, you can deduct the cost of getting yourself and your household goods to that new area 50+ miles away, this includes 24 cents per mile for driving your own vehicle, plus parking fees and tolls.

For more information please contact Eric & Sharla Stafford or John Skoglund of PHH Home Loans.

New Listings are on the Rise!

The Holidays are over and everyone has returned to their regularaly scheduled lives, as evident by the number of cars on the road during rush hour, but we are also seeing the number of new listings coming to market rising.

New listings rose to 688 for the week— while pending sales posted a number of 378.

A few additional stats for the New Year:

Housing Affordability continues at historic levels: rising to 208 for January, an 8.3 percent increase from the previous year and a good sign for buyers in the year to come.

The Months’ Supply of Inventory is back in balanced market territory at 5.0 months. This is a dramatic 34.2 percent under the supply at the beginning of last year.

For the full market report visit
http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf

Can Stafford Family Realtors help you find your new home in this buyer's market? Let us know how we can assist you!

Very Exciting News!!!

I have never seen Sharla & Eric Stafford this excited!

The team ventured out to Bayside on Lake Minnetonka Sunday afternoon for free Sloppy Joe’s, Beer and the VIKINGS game! It was a great game to watch. Sharla got so excited that she knocked over her chair during Rice’s touch down.

Should anyone be in the area next Sunday evening, come down and join us as the Vikes take on the Saints (and win, because we ARE going to the Super Bowl).

We will also be hosting open houses on Sunday so check back here or at StaffordFamilyRealtors.com for times and addresses.

SKOL VIKES!

SKOL Vikes and Open Houses

Stafford Family Realtors are opting to host an open house this Saturday since we all plan to cheer on the Minnesota Vikings at Floyd’s in Victoria this Sunday. If you are in the area, please come on out and share your purple pride and enjoy a Free Beer for every quarter the Vikes score a touch down during and chili with all the fixing’s! SKOL VIKES!!!

Open Saturday 1:00pm - 3:00pm

This beautiful home in the demand neighborhood of Bellavista, located on the beautiful Chaska Town Course, offers a spacious yard with tons of room to play. Other amenities include an open floor plan, Gourmet Kitchen with granite counters, a Main Floor Office, Private Master Suite with large Walk-In Closet and a large soaking tub. The basement is unfinished – a great chance to build equity. This home is subject to a short sale.

1632 Isabella Parkway, Chaska ~ MLS # 3650507

Fed says "it's time the Market Stands on its Own"

April 1 will be the first day that the Federal Reserve will end its debt purchase program and allow the struggling U.S. mortgage market to operate unassisted. As a result, the Fed believes mortgage rates will rise about three-quarters of a percent to about 6 percent, Boston Fed President Eric Rosengren said Saturday.

Fear of a worldwide perception that the U.S. government is simply printing money to use to purchase mortgage-related securities is a big reason the Fed has pulled back, analysts say. If that fear caused a sell-off of U.S. government bonds, it would push borrowing costs substantially higher and derail the economic recovery.

"We are still in uncharted waters," Fed Vice Chairman Donald Kohn said in an unrelated speech Saturday. "We will need to be flexible and adjust as we gain experience."

Source: Reuters News, Pedro Nicolaci da Costa (01/08/2010)

Tips for Choosing a Home Inspector

Purchasing a home can be an exciting and worrisome experience but along with a professional Realtor, a good Home Inspector can help make your purchase a smooth transion.

There are several factors you should consider when looking for a good inspector:

• Look for inspectors who offer General Liability Insurance - An inspector who doesn't carry general liability insurance does not protect against property damage in the event the inspector damages the property before or after inspecting the home.
• Ask about their training qualifications - Training is key to a proper home inspection. Many inspectors may not have received formal training. Training limitations can lead to potential problems in the event something is not properly inspected.
• Look for an inspector who meet industry and state standards - Hiring an inspector who does not adhere to industry or state standards could result in missing thousands of dollars in problems, costing you additional money, time, and aggravation.
• Ask if your inspector if they provide services outside of a general home inspection - Among other areas, we like to have our inspectors test for Radon.

7 Helpful Home Tips for January

Ring in the New Year with a few helpful home tips that will help you keep your home running smoothly and avoid potentially costly issues later:

1. Clean or replace furnace filter.
2. Check and clean mechanical ventilation system (HRV/ERV).
3. Clean snow from air intakes, exhausts and meters. (we had to do this other day at our house, our gas fireplace wouldn’t turn on… whoops!)
4. Clean range hood filter. (goes along with #2)
5. Remove excess snow from roof to prevent ice dams.
6. Inspect water heater (check the temperature valves).
7. Observe humidity levels and adjust the setting on the humidistat or air exchanger controller as needed to eliminate condensation or frost on windows.

For more tips, visit the Home Energy Resource website and may you have a great 2010!

Coldwell Banker Ranks highest for home sellers!

According to J. D. Power and Associates Home Buyer/Seller Study, Coldwell Banker ranked highest for home sellers.

For both buyers and sellers, the agent is the most important driver of overall satisfaction. The importance of additional services provided by companies and agents has risen by 8 percent among sellers.

“Among home sellers, Coldwell Banker ranks highest with a score of 815 (out of 1,000) and performs particularly well in all four factors. (Four factors are examined for the home-selling experience: agent (34%); marketing (34%); office (17%); and package of additional services (15%).)”

The 2009 Home Buyer/Seller Study includes more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The study was fielded between April and June 2009.

For more information on Stafford Family Realtors and the exceptional home services we provide, please visit StaffordFamilyRealtors.com or call us today to see how we can help you.

KARE 11 - Toys for Tots Donation

Check out Coldwell Banker Burnet donating the toys we collected to the Toys for Tots program on local NBC channel KARE 11 - start watching the video at 16:50 to see the hand-off!

http://www.kare11.com/video/default.aspx#/10pm+Newscast/10pm+Newscast+12%2F8%2F09/49501998001/49497128001/55507577001

Weekly MAAR Market Update

What a crazy weekend!

The Vikings learned that they are not invincible and the Wild loosing to Ottawa after loosing their equipment to a fire, it was a red letter weekend for MN! Thanks goodness that we don’t live on the East Cost (sorry New York).

We did get some good news this week from MAAR in regard to our weekly market update.
At 5.7 percent, this is the lowest Months Supply of Inventory in more than two years and a full 32.9 percent below last year. The higher price points are still Buyer’s markets however the general price points are turning for the Seller’s benefits.

Now that the Thanksgiving Turkey coma has worn off, a push is in effect for the Twin Cities housing market. The week ending December 5 saw pending sales swing upward from the previous week by 152 to settle at 551.

This is 7.7 percent less than last year at this time, marking the third week of the last four to post pending sales numbers lower than a year ago. The aftermath of the tax credit’s initial expiration date is combining with the typical holiday slowdown to bring sales down.

For the full report visit - http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf

4 more shopping days--- are you ready?

Exterior Remodeling: Best Bang for Your Buck

Looking to see what you can do to increase the resale value of your home… in the current economic times?

According to a REALTORS® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale.

What’s it gonna’ cost me?

On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000.

Certain types of door and siding replacements, as well as wood deck additions all returned more than 80 percent of project costs upon resale. A steel entry door replacement – a new addition to this year’s list – recouped 128.9 percent of costs, followed by upscale fiber-cement sliding replacements at 83.6 percent. Wood deck additions recouped 80.6 percent of costs.

The 2009 Remodeling Cost vs. Value Report compares construction costs with resale values for 33 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the twelfth consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with REALTOR® Magazine, as REALTORS® provided their insight into local markets and buyer home preferences within those markets.

What do the Numbers Say?

On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1 percent of remodeling costs compared to 73.8 percent in 2008.

• The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3 percent costs recouped.
• Other exterior projects in the top 10 include midrange vinyl and upscale foam-backed vinyl sliding replacements, which returned more than 79 percent of costs.
• Several types of window replacements – midrange wood, midrange vinyl, and upscale vinyl – all returned more than 76 percent of costs upon sale.
• The least profitable remodeling projects in terms of resale value were home office remodels and sunroom additions, returning only 48.1 percent and 50.7 percent of project costs.
  

Remodeling projects are just one of many factors that contribute to a home’s overall resale value. Stafford Family Realtors can help to identify the projects and investments that will make a difference in your home.

Results of the report are summarized in the January issue of REALTOR® Magazine. To read the full project descriptions, access national and regional project data, and download a free PDF containing data for any of the 80 cities covered by the report, visit www.costvsvalue.com. “Cost vs. Value” is a registered trademark of Hanley Wood, LLC.

Source: NAR

8 Day left until Christmas!

That’s right folks; we are in the home stretch. Christmas is only a few days away. This weekend I am planning on getting the rest of my shopping “wrapped up”, if you’ll pardon the pun. I am also going to start in on my holiday baking.

Last week I did a trial run on my Chocolate & Peanut butter Biscotti. This is an easy recipe to do, if I can make it and not ruin anything, anyone can! I highly recommend it; they went fast when I brought them into the Coldwell Banker office.

If you are one of the lucky ones who have all your shopping done, the cookies baked and your presents wrapped and you are looking for some fun things to do this weekend check out a few of our suggestions:

- The James J. Hill house in St. Paul does a great tour with costumed actors who play the roles of servants in the home as they are getting ready for a holiday party. It is interesting and a fun family outing. Swing by Cossetta’s on W. 7th and Chestnut, after the tour for a huge slice of pizza and tiramisu.

- If you are on the western side of the ‘burbs, check out this home in Waconia! They have an amazing light display that performs to four Christmas songs. It’s a lot of fun and if you can’t get to the home before Christmas, never fear, they continue the show until January 10th.

- If we get some of this snow that they are forecasting for tomorrow, you can always curl up with a copy of your favorite Christmas movie and a hot cup of coco! Bring on the White Christmas!

Good luck if you are heading to the malls this weekend!

Weekly Market Update from MAAR

The local housing market experienced the traditional Turkey Day drop off for the week ending November 28 as Twin Citizens focused more on turkey and stuffing than purchase agreements and closing dates.

Even taking into account the expected holiday drop, market activity in the last few weeks has slowed considerably from the breakneck pace we saw during the first 10 months of the year, likely due to the passing of the home buyer tax credit’s initial deadline.

There were 5.9 percent fewer pending sales compared to the same week in 2008. That’s only the second week of year-over-year decrease in all of 2009 (the first was two weeks earlier).
Now for the good news: Days on Market before Sale dropped 14.5 percent to 127, and the Percentage of Original List Price trended positive over last year to 94.3. These two metrics should shore up sellers who are weathering the current economic storm.

For the full market report visit
http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf

information published by MAAR.

Foreclosures Decline for 4th Straight Month!

Some good news coming out about the state of the Foreclosure market!

Foreclosures declined 8 percent in November compared with October, but were still up 18 percent from November 2008.

This was the fourth-straight month that U.S. foreclosures have declined since hitting an all-time high in July, according to online foreclosure marketer RealtyTrac.

Default notices, an indicator of coming foreclosures, also were down 8 percent from October, but up 22 percent from November 2008. Bank repossessions were flat from the previous month and down 2 percent from November 2008.

"We don't really believe the underlying problems have been resolved," said Rick Sharga, senior vice president for RealtyTrac. Many borrowers, he told the Associated Press, "simply aren't going to qualify" for government and mortgage servicer help.

States with the highest foreclosure rates are:

• Nevada
• Florida
• California
• Arizona
• Idaho
• Michigan
• Illinois
• Utah
• Maryland
• New Jersey

Four states account for more than 50 percent of actual foreclosures: California, Florida, Illinois, and Michigan.

Source: RealtyTrac, (12/10/2009)/ REALTOR Magazine

Catching Up

Minnetonka Coldwell Banker Burnet had the best Trees for Tots event EVER!

Thanks to the help of our clients and friends and the support of local businesses, we were able to collect over 750 TOYS which were donated to the Toys for Tots program!!!! Over 9,300 toys were donated from the participating Coldwell Banker Burnet offices from around the metro area; the donation was aired on KARE 11 News on Wednesday evening. (We'll post the video once they have it up online.)

Thanks to all who took part! Let’s make next year even better!

We have two Exceptional Homes open this weekend for you to visit.

19864 Wynnfield Road, Eden Prairie – Sunday, December 13th from 12-2

2408 Hunter Drive, Chanhassen – Sunday, December 13th from 1-3

Click on the links to view more information on these listings!

Blue Moon – I saw you standing alone

If you happened to look up towards the heavens last night, you might have noticed that the sky was brighter than normal. We are going into this December with the first of two full moons. This delightful event is known as a Blue Moon. The first full moon will grace our night sky tomorrow December 2nd and 3rd. The second full moon will occur over New Years Eve.

For more about the night sky, visit EarthSky, a vast forum compiled by scientists from around the world with content on various scientific topics.

It's Great to be Minnesotan!

Christmas music is blaring thru the radio and we are hard at work in the Stafford Family Realtors office today. We hope that you had a wonderful Thanksgiving weekend and survived all the hectic shopping. Are you hard at work today (a.k.a. – checking out the Cyber Monday Sales)?

The Vikings are now posting double digits in the win column after yesterday’s win over da’ Bears. So, I guess you could say that all is right with the world in Minnesota today… except for the impending snow in the forecast for Thursday. Again, welcome to Minnesota.

This Saturday is our office’s annual Trees for Toys Event stop by and check out the Choir, Santa Clause and donate a gift for the Toys for Tots program.


Coldwell Banker Burnet - your Donation Destination!
19400 Highway 7
Excelsior, MN 55331

TURKEY DAY IS HERE!!!

Ok, so I’m a little over excited for Turkey, Stuffing and all the Fixings.

Do you have any great plans for this weekend? Are you looking for any ideas?

If you don’t plan on joining us crazies in the swell of shoppers on Black Friday, try checking out Christkindelsmarkt in downtown Excelsior. This great outdoor market/festival is only open the weekend after Thanksgiving and offers live holiday music, local vendors and a lantern parade. This is a great opportunity to experience some of the local holiday festivities.

If shopping is defiantly not on your list of “To Dos” this weekend, check out the Minneapolis Institute of Arts who is one of only two museums in the country to exhibit the Louver and the Masterpiece. This exhibit offers some of the wonderful works from the Louver that rarely leave France.

Or stop in at the American Swedish Institute in Minneapolis and check out the Nordic Christmas and their Christmas Trees. This is a long standing Minnesota tradition.

Any other ideas? We would love to hear from you!

Stafford Family Realtors would like to give a sincere and heartfelt Thank You to all our Friends, Clients and Family who have made this past year a success for us.

Thank You and we wish you a very wonderful Thanksgiving!

Housing Recovery - By the Numbers

For the first time in three and a half years, the sale of new construction homes has added to the economic recovery of the housing market. We will also watch the other factors that have, and hopefully will continue, to aid in the improvement of the market will be the extension and expansion of the Homebuyer Tax Credit and the involvement of the Federal Reserve with the secondary mortgage market.

By the Numbers

• 24% - the Gain in Existing Home Sales since January
• 22% - the Increase in New-Home purchases
• 40% - the Rise in Single-Family Housing
• 5% - Fixed 30-Year Mortgage rate is at a multi-decade low
• 30% - How far prices have dropped since May of 2006
• 350,000 – this years projected increase in sales of existing homes
• 45% - the number of First Time Homebuyers making up the market
• 7.8 months – the number of homes available, the lowest in 2.5 years
• 29% - Market Share of Distressed Home sales in September vs. 51% in March

Information published by Businessweek - November 9, 2009

REALTOR® Magazine-Daily News-Existing-Home Sales Record Big Gains

Some GREAT news about the market from REALTOR Magazine:

Citing the recent extension and expansion of the Home Buyer Tax Credit, a decline in Inventory and Home Prices as the main driving factors for the gains posted by the Housing Market in October. For the full article, please click on the link below.

REALTOR® Magazine-Daily News-Existing-Home Sales Record Big Gains

For more information on the Tax Credit or for a Free Market Analysis of your are, please contact us today!

Stafford Family Realtors

Open House Scheduls for November 21 & 22

We have exciting news! A Price Reduction and great open houses!

19864 Wynnfield Road - Eden Prairie. We jsut reduced the price of this great home $20,000! Now offered at $525,000. We will be open this Saturday, November 21 from 1-3 & Sunday, November 22 from 12-2.

2408 Hunter Drive - Chahassen. $529,900- a little of the Pacific Northwest in Chanhassen. We will be open Sunday from 12-2.

8792 Horizon Ridge - Victoria. Breathtaking views from this custom home filled with designer finishes. We will be open Sunday from 12-2

Weekly Market Report from MAAR

For the full text of the Weekly Market Report - Click Here.

With the home-buyer tax credit now expanded and extended, sales activity in the Twin Cities region slowed down as expected for the week ending November 7. And by "slowed down," we mean it "only" posted a 17.2 percent year-over-year increase as opposed to last week's 42.9 percent year-over-year increase. So we're being openly facetious; market activity is still robust despite the respite from urgency.

New listings were down 14.3 percent for the same time period comparison, but the expansion of the tax credit to provide $6,500 to move-up or move-down buyers may create more new seller activity in the coming months.

And for the first time in several years, new listings may actually be welcome. The region has shed more than 12,000 units of inventory since the supply peak in September of 2007. In the lower price ranges, buyers are facing a shortage of good inventory. See page 6 of our Housing Supply Outlook for a more detailed look.

Go Green at Home to Save Money

NBC's Today show featured a great segment today on ways to go green to help save yourself some money this Fall/Winter. Here area a few tips to make your home Green

• It sounds simple: turn off lights and unplug bigger items such as your T.V. or stereo. Just because the electronic is off, doesn’t mean that it isn’t sucking power.
• Look out for hot spots and cold drafts in your home and calk or insulate where the air is coming in – remember – if you can see daylight, air is getting in.
• Wash your laundry in cold water
• Switch your light bulbs over to Fluorescent Bulbs – these light bulbs are longer lasting, durable, mercury free and more cost effective.
• Have your furnace and A/S units checked yearly. Replace your filter and note the date you do so.

Click here to watch the short segment from Today.

Little Known Facts...

Thanks to all our clients and friends who came out last night in support of the ICA Food Shelf and made our annual Old Log Theatre event such a success!

Here is some of the interesting events we have coming up (and some of my little know facts!)

Little Know Fact: The first Pumpkin Pies were created without crusts. The pilgrims would remove all the seeds and goop out of the pumpkin then add milk, sugar, honey and spices. They would bake the whole gourd over hot ashes then eat the goodies inside!

Well, it’s official. While the first day of winter isn’t until December 21st, we have already broken some records with the first snow fall of the season.

Along with the snow come the visions of pumpkin pie, spiced cider and Christmas trees! This is my favorite time of year. Any holiday that involves eating copious amounts of food followed by shopping is great by me!

Little Known Fact: Shopping burns 300 calories an hour.

It all starts with caramel apples. This is the first sign of fall. Shortly after they make their appearance on grocery store end caps, the leaves start to change and the scent of cinnamon and allspice start to fill the air.

This is also when time seems to speed up and we become engulfed in the festivities. From the sugar induced coma of Halloween to the strike of midnight on December 31st, we enjoy Jack-O-Lanterns, Pumpkin Pie, Christmas Trees and, of course, the leftovers.

Most importantly, I love that the spirit of this season is to reflect upon our friends and family who make the holidays truly special.

At the Office, we are getting ready to kick off the holiday season with some great events for our friends and clients. All the events are designed to help the families that are in need in our community.

In November we invite our clients to an evening at the Old Log Theatre in Excelsior (hosted by select Agents at the Minnetonka Office of Coldwell Banker Burnet). It’s a quintessential Minnesota experience with a special kind of ambiance you only find at the Old Log. We ask all who attend the play to bring non perishable food items or a cash donation for the ICA food shelf.

Two Little Known Facts: The Minnetonka Coldwell Banker Burnet Office is a year round drop off point for the ICA food shelf. The ICA Food Shelf serves 1 family every 15 minutes.

This will be the fourth consecutive year Eric & Sharla are chairing the annual Trees for Toys event for the Minnetonka Office of Coldwell Banker Burnet.

This is one of the best events of the year and a great time to re-connect with our clients and collect toys for the Toys for Tots program. We give out Christmas Trees and Wreaths and our clients enjoy food, entertainment and a chance to tell Santa what they want for Christmas.

Two More Little Known Facts: During tough economic times the number of letters sent to Santa increase from roughly 7,000 a year to as much as 15,000. Last year our office donated 600 toys to the Toys for Tots program.

If you are going to be one of the 91% of Americans who eat turkey this Thanksgiving, as you take a moment to give thanks for all you have, please know that we are giving thanks for you.

And if you find yourself buying an extra toy (while burning off 300 calories after Thanksgiving) or you realize that you have too many cans of mushroom soup, feel free to stop by our office and drop them off—we will make sure they get to the families who are in need in our community.

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Stafford Family Realtors would like to simply say a heartfelt "Thank You" to all our nation's Veterans today for their dedication, service and sacrifice.

Tips to Help your Home look great this Winter

Now that the leaves have fallen and the gardens are settling in for winter, how do you make your home look as inviting on the outside as it is on the inside? The upcoming holidays are a great chance and excuse to get out a do some decorating! Here are a few tips from the Star Tribune on ways to make your home more appealing to buyers:

Last weekend, I pulled out the broom and took to my front porch. I began by sweeping away the cobwebs and debris away from the front door, A few other ideas to keep your home’s façade looking fresh would be to wash your windows, raking leaves (always a fun chore), trimming plants and getting ready for the snow.

If you are a fan of the DIY network, you might understand some of the nest tips on our list. Dress up your home’s exterior by adding planters filled with tree topper bundles which you can pickup from a local hardware store or garden center. Arrange the bundles in planters that you can position near your front door or nest to your garage. If you are like me, you like to change your welcome mat to a more durable one to handle the snow and sand. Mats have come a long way and finding one that is stylish isn’t too hard.

With the sun setting earlier now, good lighting is very important. Hang holiday lights and make sure that all your exterior light fixtures are clean and working. Nothing makes people feel more at home than the holidays and Christmas lights are the perfect way to get people in the spirit.

Weekly Market Update from MAAR

The Twin Cities housing market continues to post strong pending sales figures as fall progresses. For the week ending October 31, there were 826 pending sales. That's down from the week before but 42.9 percent greater than the same week last year.

The extension and expansion of the tax credit means that first-time home buyer activity will remain strong, but don't bank on the same blockbuster numbers we have seen this year. If you were a potential first-time buyer who was qualified to purchase in 2009, odds are good that you already bought. The fact that the income limits have been raised for eligibility does help since it widens the credit's availability.

The $6,500 credit for second-time buyers will spur some sellers to put their homes on the market who had previously been on the fence. New listings will likely strengthen this winter and into early 2010 as a result.

Some updated numbers for this month:

• Days on Market is still shrinking, down to 128. That's 9.4 percent below last October.
• The Percent of Original List Price Received at Sale bumped up to 94.6.
• The Housing Affordability Index increased to 202, up 25.5 percent over 2008.

To view the Weekly Market Report from MAAR, click here.

Do you have questions about the Short Sales and Foreclosures? MAAR has some great information CLICK HERE.

Eric's newest designation as a Certified Distressed Property Expert (CDPE) would be a great resource! Call him today to see what we can help you with.

Edstafford@cbburent.com or 952.221.7751.

More informaiton on the Tax Credit!!!

Exciting News! Were you feeling left out while 1st Time Homebuyers were collecting $8,000? Well thanks to the passing of the Unemployment Compensation Extension Act (H.R. 3548); which President Obama signed into law, you too can now claim up to $6,500!

The new law includes an amendment which allows for buyers who have lived in their current home for five of the last 8 years, to be eligible for at $6,500 tax credit when they purchase a new home. The 1st Time Buyers are still able to claim up to $8,000. Both groups are required to have all purchase agreements signed by April 20, 2010 and have the sale closed by the end of June 2010.

There are some restrictions for who can take advantage of the credit. The IRS has a great site that spells out the rules.

For more information on the Tax Credit and the answers to some frequently asked questions check out the links below!

Home Buyer Tax Credit Changes

Tax Credit FAQs

As always, if you should have any questions about the credit or how Stafford Family Realtors can help you, please contact us today!

We Represent Chanhassen!

The November issue of Mpls St Paul magazine is on newsstands and right smack dab in the middle of page 260 are Eric & Sharla Stafford. Now why are they in this issue, you may ask

The Stafford’s’ are featured as a team for the 2009 Super Real Estate Agents Award. This recognition is the result of a survey conducted by Mpls St Paul Magazine, Twin Cities Business and Crescendo Business Services. 120,000 people were able to nominate agents who were then graded on nine criteria including: communication, customer service, integrity, market knowledge, negotiation, finding the right home, marketing of home, closing preparation and overall satisfaction. The nominees were then reviewed and selected by a panel of industry insiders. The end result was a list of 680 agents over more than 20 metro areas.

Not only are the Stafford’s happy to represent the market of Chanhassen, they also call the City “Home”.

We would like to say thank you for this recognition and say “Thank You” to everyone who has made this possible.

TAX CREDIT HAS BEEN EXTENDED - GREAT NEWS!!!

With an overwhelming margin of 403-12, the U.S. House of Representatives voted to approve the Unemployment Compensation Extension Act (H.R. 3548) which includes an amendment to extend the $8,000 Homebuyer Tax Credit. Now buyers will have until April 30, 2010 to sign a purchase agreement and close by the end of June.

Now we will wait for President Obama to sign off on the bill, which the White House has indicated that he would do.

Weekly Market Update from MAAR

Did you get all your screams out over the Halloween weekend? Well here’s a scary thought to keep you in the Halloween spirit: we’re running out of homes to sell in the lower price ranges.

For the week ending October 24 there were 926 signed purchase agreements, up a monstrous (get it?) 53.8 percent from a year ago. Over the last three months, sales of homes under $250,000 are up 40.0 percent from the same period during 2008, while sales above that watermark have dipped by 0.3 percent. As a result, compared to a year ago the inventory of available homes below $250,000 has dropped by over 5,300 units.

With the possibility of the federal tax credit for first-time buyers being extended and expanded, there may be significant shortages of inventory for buyers looking in those price ranges as 2010 begins.

For November, the overall Supply-Demand Ratio is a paltry 7.69 per buyer, down 29.3 percent from the year prior.

Skol Vikes???

Welcome to the Land of 10,000 + lakes and the adopted homeland of Swedes, Danes, and all other breeds of Scandinavians. With the Vikings defeat of the Packers (yet again) over the weekend, SKOL VIKES was the phrase on people’s lips. Which lead me, a transplant from Missouri (and a non Scandinavian) to ponder what the meaning of this foreign term was?

Much like lutefisk, I didn’t quite understand and being full of useful/less information as I am, I set out to learn. Here is what I found:

Skol is the Danish/Norwegian/Swedish word for a salute or a toast, as to an admired person or group.

Lyrics to the Vikings Fight song:

Skol Vikings, let's win this game,
Skol Vikings, honor your name,
Go get that first down,
Then get a touchdown.
Rock 'em . . . Sock 'em
Fight! Fight! Fight! Fight!
Go Vikings, run up the score,
You'll hear us yell for more. . .
V-I-K-I-N-G-S
Skol, Vikings, let's go

So I must say, Skol Vikings! Enjoy your bye week, it was well earned!

Where are we at with the extension of 1st Time Home Buyer Tax Credit?

Well, we are almost there! The Senate is set to vote on the bill that will extend the tax credit until April of 2010. The vote, which is scheduled to take place this week, would not only extend the deadline for signed purchase agreements, it would also offer a credit to move up buyers who fit into certain limits.

As it is with government, nothing is every straight forward. The amendment extending the tax credit is attached to a larger bill that offers an extension of unemployment benefits along with new requirements for some tax return preparers and a few other stipulations.

The bill and its amendments is going up for vote in the Senate this week and, if approved, will move to the House and finally to President Obama. The White House has implied that the President will approve the legislation.

The amendments to the bill will include the following provisions:

• An $8,000 tax credit for first time homebuyers who have signed purchase agreements by April 30, 2010 and will close on the property by June 30, 2010.
• A NEW $6,500 tax credit for move-up buyers who December 1, 2009 and May 1, 2010. These buyers must have owned and lived in their home for a consecutive 5 of the last 8 years.
• The income limit will be expanded to $125,000 for singles and $225,000 for joint returns.

If you have any questions regarding the information above, please contact us and we'll be glad to fill you in!

952.470.2575

Halloween!!!

Over night Fall has happened and the trees are now bear. No more leaf peeping this year my friends however, there are still some Autumn activities in which you can partake!

If you haven’t gotten your pumpkin for tomorrow’s holiday many grocery stores are still offering the orange gourds. If you have a little more time and are interested in taking a drive to Shakopee, Peter’s Pumpkins gives free hay rides thru their fields and a visit to their website will give you a coupon for a FREE pumpkin. The Peter’s is open from 9-7 on the weekends. Located just south of Hwy 169 on Old Brickyard Road.

It’s no secret that I’m obsessed with Wild Hockey, so it should come as no surprise that I chose to carve my pumpkin as homage to #24 the “Boogeyman!” Feel free to post a photo of your creation! We’d love to see how inventive you can be!

After you get a chance to stop by one of the great open houses we have this Sunday. Get ready to cheer on the Vikings as the take on the Pack in Green Bay! SKOL VIKES!!!

We would like to wish everyone a Happy and Safe Halloween!

REMINDER: Don’t forget to set your clocks back one hour when you go to bed on Saturday, October 31st for the end of Daylight Savings Time.

We have 3 Great Properties open before the Vikings play.

8360 Crabapple Court: Victoria $250,000
Sunday November 1st - 12-2 PM

This is our newest listing located within walking distance to the Victoria Rec. Center, schools and parks. This twin home lives like a single family and features all living amenities on one level.

18964 Wynnfield Road: Eden Prairie $545,000
Sunday November 1st – 12-2 PM

This spectacular home in demand neighborhood of executive homes features designer details from top to bottom. The Amazing Lower Level offers Media Room, Billiards Room and Custom Wet Bar. Stop in and Check it out – you’ll want to stay for the game!

2301 Boulder Road: Chanhassen $409,999
Sunday November 1st – 12-2 PM

This great home is sited on winding streets lined with mature trees and stately homes. Located within walking distance to the neighborhood parks and the new Chanhassen High School. This enjoy the 4 Season Porch or the private yard. Relax or Entertain from the Gourmet Kitchen!

So Much Going On! Forbes Ranking, Trees for Toys & the 1ST Time Buyer Tax Credit

This week has been going by so quickly (as has this year). I can’t believe that November is just around the corner! We are getting ready for our annual Trees for Toys event and with Turkey Day coming up we are all looking forward to the holidays.

Forbes just announced their top pick for Most Affordable Places to Live Well and Minneapolis came in #1. “It nabbed the top spot on our list of Most Affordable Places To Live Well. There, homes are relatively affordable; residents enjoy a high quality of life and access to choice arts, leisure and entertainment offerings.” On top of this recognition, we have also been ranked as one of the Safest Places to Live.

Here is a little more from Forbes about Minnesota: “Last quarter, 61% of the area's home sold were available to the median household earner, according to NAHB/Wells Fargo, which puts the City of Lakes in 17th place of the 50 cities we measured. Minneapolis ranked just under the median in cost of living. Its quality of life ranking most distinguishes it; here the city ranked third, and came in ninth in arts and leisure offerings.”

We are gearing up for our annual Trees for Toys event which brings our clients and friends together with an event that asks for donations to the Toys for Tots program. Out office is a local Toys for Tots drop off location and we give either a Tree or Wreath to our clients. For one Saturday we get entertainment, Santa and great treats!

On the Legal Front, word is coming in that Congress is looking to extend the $8,000 First Time Homebuyer Tax Credit until April of 2010. This would mean that all purchase agreements would need to be signed by the end of April and the property would have to close by the end of June 2010. They are also discussing an option to give a $6,500 Tax Credit to buyers who are purchasing but have owned their current home for at least 5 years. The Senate has agreed to this plan but now we will need to watch the House before we can call this great news. We’ll keep an eye on this and let you know of any updates.

Congratulations Eric!

We are excited to announce that Eric Stafford has a new designation! To add to the already impressive list of specializations, we can now offer Certified Distressed Property Expert!

As a CDPE, Eric can save 9 out of 10 people from going into foreclosure; do you know anyone having trouble making their house payment?
The trends are pointing to the number of Foreclosures available is going down; however, the number of short sale situations is going to continue to rise in the coming months.

We can help! Call us today to see what your options are and how we can help. 952.470.2575.

Introducing 18964 Wynnfield Road, Eden Praire

We’ve got another Exceptional Home for you! Only available due to relocation, this single family home sold two years ago in multiple offers in 1 day! Custom Designer Finishes from top to bottom! Check out the Gourmet Kitchen with granite counters and the main floor Office with custom built-ins. All 4 bedrooms are located on the second floor, including the private Master Suite with the large walk-in closet and private bath.

The amazing lower level features over $100,000 in updates. Relax or entertain at the full Wet Bar while you play billiards in the Game Room, or sit back and enjoy a movie in the Media Center with the large screen.

The back yard of this home offers loads of privacy with its large mature trees. Take a soak in the Hot Tub or relax under the pergola with friends.

Call us today for a private showing!

Weekly Market Update from MAAR

The fall Twin Cities housing market has been full of wild things, mostly first-time home buyers stampeding to take advantage of the federal tax credit before it expires on November 30. The week ending October 10 was no different than others we've seen this fall. There were 947 signed purchase agreements for the week, a 37.6 percent increase over the same week last year.

At 1,543 new listings we're down 4.4 percent from the same week a year ago. The trend continues: New listings haven't been keeping up with the amount of sales, bringing total housing supply down dramatically in the Twin Cities. There are currently 24,901 homes on the market, 21.0 percent less than a year ago.

The rumpus is likely to subside as we near the November 30 tax credit deadline, silencing the sales activity of the market's most active buyers.

Open House Schedule for Sunday, October 18th

We have three great listings for you to check out this weekend!

Just Listed and First Time OPEN! 2:00-4:00PM
843 Barrington Drive E.
Shakopee - $398,900
This executive home is sited on over 1.5 acres in a park like setting covered with matures trees. You will find a main floor office, private master suite and a newly finished lower level walkout.

Breathtaking Views and Custom Finishes! 2:00-4:00PM
8792 Horizon Ridge
Victoria - $539,000
This home shows like a model! High end finishes throughout this amazing home in the demand neighborhood of Deer Run Golf Community.

A Little of the Pacific Northwest in Minnesota - 2:00-4:00PM
2408 Hunter Drive
Chanhassen - $549,900
Meticulously maintained this home features a Gourmet Kitchen, Fully Finished Lower Level with Wet Bar and enchanting gardens.

Stop by one of our open houses this weekend and visit. We’ll be sure to keep the game on for you!

Weekly Market Update from MAAR!

Autumn may be bringing colder temperatures (and snow, too: what's up with that?!?) but the Twin Cities housing market is still hot. Contrary to the typical fall slowdown, pending sales are gaining weekly momentum as home buyers take advantage of the final days of the Federal tax credit.

For the week ending October 3, signed purchase agreements were a stunning 61.2% higher than last year, jumping from 647 to 1,043. New listings are a different story, however, down 8.0% below the previous year. Total active listings remain sluggish compared to a year ago, with the 24,354 on the market representing a 20.9% drop from a year ago.

There are some new stats this week that help bring some perspective on just how much better things have gotten for sellers in the last year:
• Days on Market Until Sale: at 129 days is 11 percent below last year.
• Percent of Original List Price Received at Sale: at 93.9% is 1.8 percent higher than last year.
• Months Supply of Inventory: at 6.6 is 30.5% lower than last year and is closer to a balanced market.

All three indicators are important reflections of market shift. Yet we can't minimize that sellers still face tough conditions, especially in the higher price ranges where sales are still on a downward trend.

Ginger, Smoke, Rain & Rice

Don’t worry this isn’t the title track to a new age CD dropping today nor are they the ingredients for making this Minnesota fall a great one… not unless you are looking to update or sell your home.

Just as you are reading this on the internet now, buyers are checking out your home online before even considering seeing it in person. One of the best ways to make a good first impression is in the paint colors you select.

Neutral colors show better in photos and make your home more appealing online. Here are a few suggestions that might take your Red Delicious walls from precarious to Perfect!

Behr offers Ground Ginger - a pale olive tone that is great for dining rooms and kitchens.

Sherwin-Williams has Kilim Beige – puts that crisp, clean touch on a wall. Khaki colors tend to cover flaws well and is great for touching up.
Benjamin Moore submits Pale Smoke – soft blue/gray shades work well in bedrooms and creates a serene setting.

Sherwin Williams brings on the Rain – too much beige can be boring. This is another smoky blue that works well in bedrooms but also for bathrooms. If you have white fixtures, this color balances well. It also looks great with any type of metal fixtures.

Duron offers Rice Paddy – is another green toned shade that is great in living rooms and kitchens. It blends well with granite or stone counter tops.

Wickham Gray from Benjamin Moore – This is a great option if you need to cover up a bold color already on your walls.

For all the people who love Red, there are just as many who don’t. Keep this in mind when you are selecting your paint colors.

Here is your Stafford Family Realtors helpful hint: If you find a color that you like but don’t want to pay the designer price for a gallon or you can’t match your favorite color, take your paint chip or sample to Home Depot. They will color match and print a sticker for you so that if you run out you can always order more without having to find the color again.

Happy Painting!

Great New Listing in Shakopee

Welcome to 843 Barrington Drive East
4 Bedrooms / 4 Baths / 4 Car Garage
MLS# 3844789
$398,900

This stately home is sited on 1.58 acres of park-like yard covered with mature trees. A circular driveway leads to the front of this well maintained home.

Just off the foyer you will find the main floor home office with French doors that lead to the Separate Formal Dining Room.

If you would rather opt for casual dining, the Eat-in Kitchen offers plenty of space and a large center island. Sit on the deck and enjoy the amazing views of your yard.
The main floor Family Room features a gas burning fireplace, a great place to curl up with a good book.

The Private Master Suite is spacious & comfortable. Take a soak in the Jacuzzi tub.

The current home owners finished off the lower level walkout. They have added a 4th bedroom, Game Room and Family Room with a wood burning stove.

Relax in the hot tub in the privacy of your backyard and enjoy calling this house a home.

Call us today for a private showin at 952.470.2575 or check out more informaiton at StaffordFamilyRealtors.com.

Do you Qualify for the $8,000 tax credit?

Weekly Market Update from MAAR

Fall is officially on in the Twin Cities, but it hasn't slowed the housing market as much as usual. After the school year begins, we typically see a drop in buyer activity, but the 2009 fall market is remaining robust due in large part to the final weeks of the tax credit for first-time home buyers. There were 1,056 pending sales for the week ending September 26, up 41 percent from the same week last year.

As a direct result, inventory is dropping like a stone. There are approximately 24,500 homes for sale in the 13-county metro area, down more than 20 percent from a year ago.

The October 2009 Supply-Demand Ratio (SDR) comes in at 6.88 houses per buyer, down 22.5 percent from last year. The SDR has shown year-over-year drops of 30 percent or more for the past few months, but we're projecting that the year-over-year decline for October will be smaller because pending sales are likely to be significantly lower if the federal tax credit for first-time buyers is not extended. If the credit goes *poof*, it will remove buyers from the market.

Welcome to the Manor

Ever wonder what $150 Million can buy you?

Standing as the crown jewel of one the most exclusive neighborhoods in Southern California, the Manor is recognized as one of the most famous mansions in U.S. history. Built by entertainment royalty Candy and Aaron Spelling, the estate rests on approximately 4.7 acres of rare flat land in the Holmby Hills area of Los Angeles. Offered at $150,000,000.00 http://coldwellbanker.com/themanor.

“In a recent survey of Wall Street Journal subscribers, Coldwell Banker ranked #1 among all measured Realtors as the company they would consider using for future real estate transactions.”

Source: 2009 Residential Real Estate Survey; The Wall Street Journal Marketing Dept./Beta Research Corp.

Weekly Market Update from MAAR

The Labor Day fluctuations came and went, and the Twin Cities housing market is better for it. Pending sales for the week ending September 13 rose dramatically to 1,043, which is 33.5 percent above last year's total for the same week. We must assume that a healthy chunk of this buyer activity can be attributed to first-time home buyers taking advantage of the tax credit before it expires on November 30.

New listings came in at 1,846, up 3.2 percent in a year-over-year comparison. Home sellers have recognized a window of opportunity in recent months and are listing with a little more frequency, but the overall inventory of houses for sale is still below that of the last three years and our Supply-Demand Ratio (which measures the number of houses available per buyer) remains 30.3 percent better than where we were a year ago.

We've Got a Hole in One!!!

This amazing home in Deer Run wont last long so contact us today for a private showing.

Just listed, this home is nestled on a private cul-de-sac covered with mature trees with tranquil views of a glacial pond. From pillar to post, designer finishes can be found throughout. Curl up with a good book in front of the fire in the front Office or gather in the Gourmet Kitchen. The 4 Season Porch offers private views of the pond and wooded yard.

We will be hosting the first Open House this Sunday, September 24th from 12-2

6553 BARTLETT BLVD, MOUND: THIS IS NEW CONSTRUCTION WITH LONG VIEWS ON LAKE MINNETONKA: http://ping.fm/cVh5P

JUST REDUCED THE PRICE ON THIS AMAZING LISTING ON LAKE MINNETONKA: http://ping.fm/7usIm

WE HAVE A NEW LISTING!!! CHECK OUT THIS LINK FOR 8792 HORIZON RIDGE, VICTORIA: http://ping.fm/vTTdD

Weekly Market Update from MAAR

Once again, the six-day gap between where Labor Day fell in 2008 and where it fell this year is causing our year-over-year weekly numbers to look weird. For the week ending September 12, you'll see a steep drop-off in new listings and pending sales, but there's no such dip last year.
New listings for the week ending September 12 were 1,624, a 12.9 percent drop from this period last year. Pending sales agreements also dropped precipitously to 840 from 1,070 a week ago, 7.3 percent higher than this week last year.
Next week's figures should begin to provide more relevant year-over-year comparisons. As the final days of the tax credit tick down (72 days and shrinking), we'll be watching market activity with heavy interest. Stay tuned.

THANKS TO ALL FOR A WONDERFUL 3RD ANNUAL CLIENT CRUISE

Thanks to all of our Clients and Fiends who made our 3rd Annual Client Appreciation Cruise a great event!

Saturday shaped up to be a wonderful day both weather-wise and the company it was spent with. We are so very lucky and grateful to all who attended and to Brian Call with Rubicon Mortgage who helped us pull together our outing on the Queen of Excelsior II on Lake Minnetonka.

The fall leaves were just starting to change but the weather was wonderful. We are already looking forward to our 4th Annual Cruise where we hope to celebrate our success with even more Clients and Friends.

Thanks Again to you All!

Weekly Market Update Report from MAAR

In 2008, Labor Day fell on September 1; this year, it fell on September 7. That six-day gap is enough to make our year-over-year comparisons of weekly market activity look a little goofy this week. For instance, for the week ending September 5, there were a whopping 42.9 percent more pending sales than there were a year ago, but this is only because Labor Day—a holiday that notoriously silences the local real estate market for several days—fell during that week last year and didn't this year. Expect similar confusion next week.
Independent of these numerical oddities, sales are still extremely robust as the days remaining on the first-time buyer tax credit continues to tick down. 78...77...76...
New metrics updated this week:
• Housing Affordability Index: At 195, it towers over last year's affordability by 29.1 percent. Falling prices continue to do their job, at least for buyers.
• Months Supply of Inventory: The 6.9 months of inventory available is 30.3 percent below this time last year.

Weekly Marketing Update from MAAR

For the first time in 9 months, the number of weekly new listings coming on the market was actually higher than it was a year ago. The 1,641 new homes on the market during the week ending August 29 represent a 3.3 percent increase from a year ago. The slight year-over-year uptick is due in part to growth in the number of new, traditional, non-lender-mediated listings.

For the most recent reporting week, the number of brand new traditional listings (excluding re-lists that have already been on the market sometime in the last 12 months) has grown 20.3 percent compared to a year ago. Home sellers are becoming more active, likely in response to the increase in home sales seen throughout the year.

And if you look at three of our newly updated metrics, it becomes obvious why more sellers are jumping in:

Days on Market Until Sale - 133 days, a drop of 7.1 percent from a year ago.
Percent of Original List Price Received at Sale - 94.1, up 1.5 percent from a year ago.
Supply-Demand Ratio - 5.46 homes per buyer in September, down 30.3 percent from a year ago.

The psychologie Home Buying

When it comes to buying a home, women are in a bigger hurry, according to a national survey for Coldwell Banker Real Estate that delved into the homebuying psyche.

Coldwell Banker wanted to understand the difference between men and women in the homebuying process so it could help its practitioners do a better job of guiding first-time homebuyers who must make up their minds before the tax credit expires on Dec. 1.

Here are some key findings:
• When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their minds the day they walked into the house vs. 62 percent of men. On the other hand, significantly more men needed two or more visits (32 percent of men vs. 23 percent of women).
• 55 percent of women find it more important to be closer to their extended family than to their job, compared to only 37 percent of men.
• 64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).
• When the respondents were asked how they would use an extra 12x12 room if it could be anything they wanted, men and women agreed on the top three responses: Bedroom, office/study, and family room/den.
• 8 percent—nearly all of which were men—said they would use the extra space for recreation/entertainment.
• 70 percent of couples said the responsibility for making major financial decisions--such as homebuying--are shared equally.

Source: Coldwell Banker Real Estate (08/17/2009)

Buyer activity in the Twin Cities housing market continued its strong run in July.

For the 13th consecutive month, there were more pending sales than there were a year ago. July saw 5,174 signed purchase agreements, up 16.0 percent from July 2008 and the strongest July showing since 2005. Of these sales, 43.6 percent were lender-mediated foreclosures and short sales.
"It's been a busy summer," said our prez, Steve Havig. "Buyers are active and supply is shrinking."
New listings continue to post weak numbers, with July's total of 7,669 representing the lowest July output since 2002.

As sales have grown and new listings have slowed, the total number of houses available for sale has dropped dramatically in the Twin Cities. As of August 1st, there were 25,862 homes for sale in the region, down 21.6 percent from a year ago.

The overall July median sales price for all properties was $171,000, down 17.8 percent from one year ago, but up 2.1 percent from the second quarter median sales price of $167,500. The median sales price of traditional homes in June was $213,150, down 6.2 percent from a year ago. Lender-mediated homes posted a May figure of $126,000, down 15.4 percent from a year ago.

There appears to be less room for negotiation, as the Percent of Original List Price Received at Sale continues to improve—the July mark of 94.0 is 1.5 percent higher than last July.

Weekly Market Activity Report from MAAR

The Twin Cities housing market continues to regain a semblance of balance in supply and demand. For the week ending August 8, there were 1,802 new listings, down 9.5 percent from last year. There were also 1,037 purchase agreements signed (pending sales), up 15.2 percent above last year. The total inventory of homes available for sale is down 21.5 percent from a year ago.

The Housing Affordability Index (HAI) of 195 has begun to taper off from its high of 219 earlier this year, yet the current HAI still represents an increase of more than 30 percent from the boom years earlier this decade. Months Supply of Inventory currently sits at 7.2—down 31.4 percent from last year's mark of 10.5.

All in all, the see-saw is moving back towards equilibrium. This doesn't mean that everything is hunky-dory; sellers still face a challenging market, especially in the higher price ranges. But the overall shift is welcome news.

Economists Pronounce the Recession Over

The majority of economists surveyed by the Wall Street Journal say the recession is over and Federal Reserve Chair Ben Bernanke deserves another term.

Of the 47 economists the newspaper surveyed, 27 said the recession has ended and 11 predict another trough this month or next. The rest refused to commit. But they were nearly unanimous is saying that Bernanke should be rehired.

Gross domestic product is expected to grow 2.4 percent in the third quarter at a seasonally adjusted annual rate. Economists were also heartened by a better-than-expected jobless report in July.

Source: The Wall Street Journal, Phil Izzo (08/12/2009)

748 Kirche Hill Drive, Carver, MN | Powered by Postlets

748 Kirche Hill Drive, Carver, MN | Powered by Postlets

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Buyers Shouldn’t Wait on Falling Prices. Advice for Buyers who are on the Fence.

Fear of overpaying for property is common these days, especially in places like New York where prices continue to be unstable.


Are you one of the many buyers who are frozen because you are concerned that you will pay too much? Here are some factors that might get you off the fence:

*Waiting for the right time can be expensive. Some buyers would have more equity today, despite falling prices, if they had bought when they were first considering it, instead of continuing to pay rent.

*Financing is fickle. Some people who were highly qualified last year can’t find financing this year because the credit market has tightened or their personal financial situation now makes them an undesirable borrower.

*Interest rates are headed up. If prices decline by another 10 percent, but interest rates increase by 1 percentage point, the monthly payment will be the same.

Don't wait too long. If you get into the housing market now, you can also take advantage of the $8,000 Homeowners Tax Credit!

For more informaion on this or any other services we provide, contact us by visiting http://ping.fm/mxBvW

Source: The Wall Street Journal, Douglas Heddings (07/27/2009)

Weekly Market Update from MAAR

Woof, it's getting hot out there. The Twin Cities housing market is entering the dog days of summer, and with that comes a bit more stagnant air revolving around new inventory. The 1,637 new listings for the week ending August 1 are 12.2 percent below last year's numbers. Over the past few weeks, pending sales have been flat, but in year-over-year comparisons they are still 20.9 percent above 2008 numbers.

Two new stats for the week:

Days on Market Until Sale: Dropped by 6.6 percent over last year, from 146 to 137. Inventory is being swept up.

Percent of Original List Price: 94 percent. On a steady increase the past few months as is usually the case during the summer months.

Open House Schedule for August 9th, 2009

We have three great properties open this weekend in Chanhassen!

2408 Hunter Drive ~ Chanhassen
Open Sunday 12-2

In the demand neighborhood of Longacres, this home brings a little piece of the northwest to Minnesota. From the enchanted Gardens to the well appointed Lower Level, this home is great for relaxing and entertaining.


2301 Boulder Road ~ Chanhassen
Open Sunday 2:30-4:30

Opening this fall, the new Chanhassen High School is within walking distance from this great home! A Four Season Porch allows you to enjoy the private yard covered with mature trees.


2305 Lukewood Drive ~ Chanhassen
Open Sunday 2:30-4:30

Just listed, this home features a park-like backyard and single level living at its best. Open and spacious the flowing floor plan offers three bedrooms on the main level and a hearth room next to the gourmet kitchen.

Weekly MAAR Market Update

August. Welcome to another summer month in the Twin Cities housing market. Pending sales in July ended on a fairly positive note. The 1,009 purchase agreements signed for the week ending July 25 were 21.4 percent above last year at this time. The 1,652 new listings this week are 9.0 percent less than this week in 2008. Active listings as a whole are 21.7 percent behind last year.

The metric to watch this month is the Supply-Demand Ratio. At 4.88, this is a startling 34.8 percent less than where we were at this time last year. With less than five houses on the market per buyer and an affordability index sky-high at 192, the window is quickly closing for those wanting to get into a home under ideal conditions.