It's cold here but it could be worse!!! Some of the warmest cities have just been voted "the most miserable". Having spent time in several of these - I happen to agree! There's no place like home.
Even plenty of sunshine can’t get the cities that topped the list of the most miserable smiling.
California residents are pretty miserable, according to Forbes’ list of the most unhappy cities in the United States. California cities account for eight of the 20 most miserable places in the U.S., and four of the top five. Falling home prices, high unemployment, high crime, steep state taxes, and a large budget deficit have brought a lot of Californians down in recent months.
Here is the list of the most miserable cities, according to Forbes:
1. Stockton, Calif.
2. Miami
3. Merced, Calif.
4. Modesto, Calif.
5. Sacramento, Calif.
6. Memphis, Tenn.
7. Chicago
8. West Palm Beach, Fla.
Forbes analyzed 200 U.S. cities for its list, taking into account such factors as housing, unemployment, weather, taxes, commuting times, crime, and how the cities’ sports teams performed in recent years.
"Both California and Florida have a history of boom and bust economies,” Kurt Badenhausen, Forbes senior editor, told Reuters. “People flooded to these states because of the weather during the boom years but that helped inflate the massive bubble in housing."
In Stockton, home prices have fallen by 58 percent over the last three years and unemployment has averaged 14.3 percent--and projected to rise to 18.1 percent in 2011.
"Stockton has issues that it needs to address, but an article like this is the equivalent of bayoneting the wounded," Bob Deis, Stockton city manager, told Forbes.
Cleveland — which last year held the title as the most miserable — is getting a little happier; it ranking 10th on this year's list. Cleveland’s unemployment rate increased at a much slower rate than other parts of the country, which helped improve its ranking this year.
See Forbes.com’s full list of the most miserable.
Source: “California Cities Top Most Miserable List,” Reuters News (Feb. 3, 2011)
Friday, February 4, 2011
'Shadow' real estate inventory may take 4 years to clear
S&P: Slower liquidation rates to blame
It may take more than four years to clear the "shadow inventory" of distressed homes lurking on the sidelines in the U.S., a factor that's likely to undermine real estate prices as the backlog clears, analysts at Standard & Poor's Ratings Services say.
At 49 months, the estimated time needed to clear shadow inventory at the end of the fourth quarter of 2010 was up 11 percent from the previous quarter and 40 percent from a year ago. With the lone exception of Miami, the months' supply of shadow inventory grew in almost all of the nation's 20 largest metro markets.
But much of the increase in the estimated months needed to clear shadow inventory is due to the fact that it's taking longer for lenders to liquidate distressed homes -- not because the number of distressed properties is growing, analysts said.
Standard & Poor's defines shadow inventory as properties with borrowers who are 90 days or more delinquent on their mortgage payments, properties currently or recently in foreclosure, or properties that are real estate owned (REOs).
Although shadow inventory peaked in the first quarter of 2008, loans that are 90-plus-days delinquent and foreclosed properties are taking longer to become REOs. That's once again lengthening the overall timeline for resolving troubled assets, Standard & Poor's analysts said.
http://www.inman.com/
It may take more than four years to clear the "shadow inventory" of distressed homes lurking on the sidelines in the U.S., a factor that's likely to undermine real estate prices as the backlog clears, analysts at Standard & Poor's Ratings Services say.
At 49 months, the estimated time needed to clear shadow inventory at the end of the fourth quarter of 2010 was up 11 percent from the previous quarter and 40 percent from a year ago. With the lone exception of Miami, the months' supply of shadow inventory grew in almost all of the nation's 20 largest metro markets.
But much of the increase in the estimated months needed to clear shadow inventory is due to the fact that it's taking longer for lenders to liquidate distressed homes -- not because the number of distressed properties is growing, analysts said.
Standard & Poor's defines shadow inventory as properties with borrowers who are 90 days or more delinquent on their mortgage payments, properties currently or recently in foreclosure, or properties that are real estate owned (REOs).
Although shadow inventory peaked in the first quarter of 2008, loans that are 90-plus-days delinquent and foreclosed properties are taking longer to become REOs. That's once again lengthening the overall timeline for resolving troubled assets, Standard & Poor's analysts said.
http://www.inman.com/
Wednesday, February 2, 2011
Weekend Happenings
Embrace the cold weather this weekend and visit Minneapolis' annual Nordic ski event, the City of Lakes Loppet.The City of Lakes Loppet is a cross-country ski festival featuring the beautiful trails and lakes of the Twin Cities. In addition to the nine different races being showcased, there are many more fun events taking place both Saturday and Sunday, February 5 & 6. Take in the Snow Sculpture Contest, play some games at the Minnesota Youth Ski League SuperCarnival, or visit the heated tent in Uptown to take in some brats, BBQ sandwiches, and Minnesota's own Surly Beer. Finish your day with a beautiful night-time ski around Lake of the Isles, lit up with thousands of ice luminaries, plus a heated tent full of music and fun.
Whether you've been a Nordic skier for years or whether you shudder just thinking about being outside in that thin, tight nylon suit, everyone can find something to like at the City of Lakes Loppet.
Monday, January 31, 2011
On the way up...
10 Cities Where Home Prices Will Rise in 2011
While home prices are expected to continue to fall in most metro areas, Clear Capital’s Home Data Index report says a few cities are already on the rebound and showing some gains in home values.
“There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn’t valid anymore,” Alex Villacorta, senior statistician at Clear Capital, told MSNBC. “Overall we’re seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery.”
Clear Capital takes into account unemployment rates, foreclosure rates, and real estate inventory in its index.
The following is a list of 10 cities that Clear Capital expects will rise in property value in 2011:
1. Washington, D.C.: 6.5 percent price increase
2. Houston: 3.6 percent price increase
3. Honolulu: 3.4 percent price increase
4. Memphis, Tenn.: 3.2 percent price increase
5. Columbus, Ohio: 2.1 percent price increase
6. Dallas: 1.4 percent price increase
7. New York: 1.3 percent price increase
8. Birmingham, Ala.: 0.9 percent price increase
9. Pittsburgh: 0.8 percent price increase
10. New Orleans: 0.5 percent price increase
Meanwhile, Clear Capital reports that real estate markets in Florida and the Western parts of the U.S.—such as cities in Arizona and “Breadbasket metros” like Oklahoma City, Okla., and Dayton, Ohio—likely will see the largest price drops in home values over the year. Virginia Beach, Va., is expected to have the highest drop in 2011, with a 12.8 percent price decrease, according to Clear Capital report.
Source: “Where Home Prices Will Rise, Fall the Most in 2011,” MSNBC (Jan. 26, 2011)
While home prices are expected to continue to fall in most metro areas, Clear Capital’s Home Data Index report says a few cities are already on the rebound and showing some gains in home values.
“There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn’t valid anymore,” Alex Villacorta, senior statistician at Clear Capital, told MSNBC. “Overall we’re seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery.”
Clear Capital takes into account unemployment rates, foreclosure rates, and real estate inventory in its index.
The following is a list of 10 cities that Clear Capital expects will rise in property value in 2011:
1. Washington, D.C.: 6.5 percent price increase
2. Houston: 3.6 percent price increase
3. Honolulu: 3.4 percent price increase
4. Memphis, Tenn.: 3.2 percent price increase
5. Columbus, Ohio: 2.1 percent price increase
6. Dallas: 1.4 percent price increase
7. New York: 1.3 percent price increase
8. Birmingham, Ala.: 0.9 percent price increase
9. Pittsburgh: 0.8 percent price increase
10. New Orleans: 0.5 percent price increase
Meanwhile, Clear Capital reports that real estate markets in Florida and the Western parts of the U.S.—such as cities in Arizona and “Breadbasket metros” like Oklahoma City, Okla., and Dayton, Ohio—likely will see the largest price drops in home values over the year. Virginia Beach, Va., is expected to have the highest drop in 2011, with a 12.8 percent price decrease, according to Clear Capital report.
Source: “Where Home Prices Will Rise, Fall the Most in 2011,” MSNBC (Jan. 26, 2011)
Thursday, January 27, 2011
To Own or Not to Own: That is the question.
According to a NATIONAL ASSOCIATION OF REALTORS® survey of 3,793 adults conducted by Harris Interactive and released in January 2011, home owners and renters agree that home ownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy.
• The vast majority of both home owners and renters say that owning a home is a smart decision over the long term. Even in today’s challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home.
• Home owners are much more likely to be satisfied with the quality of their family and community life than renters. While more than half of owners (56%) are “very” or “extremely” satisfied with the overall quality of their family life, only about one-third (36%) of renters report the same levels of satisfaction. Also, 43% of home owners are “very” or “extremely” satisfied with their community life, compared with 30% of renters.
• An overwhelming majority of home owners are happy with their decision to own a home. A full 93% of owners surveyed would buy again.
• Most renters aspire to home ownership. The majority of renters (63%) say they are at least somewhat likely to purchase a home at some point in the future. Among them, young adults (18- to 24-years-old) have the strongest aspirations for home ownership.
• The vast majority of both home owners and renters say that owning a home is a smart decision over the long term. Even in today’s challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home.
• Home owners are much more likely to be satisfied with the quality of their family and community life than renters. While more than half of owners (56%) are “very” or “extremely” satisfied with the overall quality of their family life, only about one-third (36%) of renters report the same levels of satisfaction. Also, 43% of home owners are “very” or “extremely” satisfied with their community life, compared with 30% of renters.
• An overwhelming majority of home owners are happy with their decision to own a home. A full 93% of owners surveyed would buy again.
• Most renters aspire to home ownership. The majority of renters (63%) say they are at least somewhat likely to purchase a home at some point in the future. Among them, young adults (18- to 24-years-old) have the strongest aspirations for home ownership.
Another Exceptional Home from Stafford Family Realtors
Welcome to 6397 Cliffwood CircleExcelsior, Minnesota
Listed at $799,900
This beautiful example of Prairie-Style design is truly exceptional. Nestled on a .87 acre lot on a quiet cul-de-sac, this home offers amazing living spaces for the most intimate of gatherings to more formal soirees. Enjoy the Frank Lloyd Wright inspired designer finishes from the 2-Story Great Room the the Gourmet Kitchen with Hearth Room or the custom finished lower level.
For a private showing, please contact us at 952.470.2575 or visit http://www.staffordfamilyrealtors.com/ for more information.
Wednesday, January 26, 2011
Another Exceptional Home in Longacres
Presenting another Longacres Gem from Stafford Family Realtors
7122 Harrison Hill Trail
Chanhassen, MN This Longacres gem is sited on the coveted Harrison Hill Trail. Nestled on a .5 acre lot with a side walkout and covered with mature trees, this home offers a Gourmet Kitchen, Main Floor Office and a professionally finished lower level with Billiards Room, Wet Bar, Media Room and Sitting Room. Please contact us today for a private showing or visit our website at StaffordFamilyRealtors.com for more informaiton.
For Sale: 5BR/3+1BA Single Family House in Chanhassen, MN, $599,000
Presended by Eric & Sharla Stafford
Stafford Family Realtors
952.470.2575
Presended by Eric & Sharla Stafford
Stafford Family Realtors
952.470.2575
New To Market & Better Than New Construction
Welcome to 15710 57th Avenue North located in the demand Woodcrest of Plymouth neighborhood.
This beautiful home offers stunning living spaces and an open floor plan. Enjoy the gourmet Kitchen with granite, stainless steel appliances and custom painted center island. Other upgrades include a Jack-and-Jill bath, private guest suite, private Master Suite and main floor office.
For a private showing, please contact Eric & Sharla Stafford at 952.470.2575.
To check out more of our listings, please visit StaffordFamilyRealtors.com.
Tuesday, January 25, 2011
9 TIPS TO SELL YOUR HOME
I saw this on the Today Show yesterday and it’s great information and very worth sharing! Barbara Corcoran is an expert but sometimes just too focused on what works in New York, not the rest of the nation. This really applies to sellers everywhere! Enjoy!
9 TIPS TO SELL YOUR HOME – by Barbara Corcoran
There is a smart way and a not-so-smart way to get the best price for your home in the new year. Selling is both a price war and a beauty contest, and to win both you should check these nine tips.
We talked about five tactics on TODAY, and I promised you a more complete list online.
Here it is:
1. Time it right
Wait a few more weeks to put that "for sale" sign in front of your home. Few houses sell until after Super Bowl Sunday. If your house has been on the market for more than four months, take it off the market and re-list it in two months as "new."
2. Price it at exactly what it’s worth
The most influential factor in selling a home is always price. Don't build "wiggle room" into the asking price. There's a price war out there and you have to win it from the get-go. Shop the competition to see what similar homes are selling for and price your home 10 to 15 percent lower so it's the first house shown. Or you can get price estimates from three good brokers and go with the lowest. If you've overpriced your home, then make one big reduction. The worst thing you can do is make a series of small price reductions along the way — it's the equivalent of chasing the tide as it rolls out.
3. Get your home inspected before you list
Don't wait for the would-be buyer to discover the problems you could have fixed before selling. When they're discovered, buyers will just move to the next house or rack up reasons to expect price cuts.
4. Offer financial incentives up front
Don't wait for the negotiations to throw in extra price incentives — offer them up front. Offer to pre-pay the first year of property taxes, pay closing costs, include free cleaning, lawn care or snow-removal services for a year. If you're moving and have no place to put your money, the best incentive out there today is "seller financing." Make sure to put your incentives front and forward in the listing information.
5. Wage war online
A whopping 89 percent of buyers start their home search online. How your house looks online is the modern equivalent of "curb appeal." Rent a wide-angle lens and good lighting, get rid of your clutter and post at least eight great photos to win the beauty contest.
6. Use the best broker
The top 10 percent of sales agents generate 90 percent of the sales and they're the ones most likely to sell your home. To find a smart broker, go to a reputable firm and ask the sales manager for a broker in the top 10 percent.
7. Spend money on the three key spaces:
• The front of the house
• Buyers decide in the first eight seconds of seeing a home if they're interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds. Edge your lawn, mulch your flower beds, trim your bushes, steam clean your driveway and paint your door and trim.
• The living room
• Get rid of ALL your clutter, including a third of your furniture. Paint the walls a neutral white and add touches of color. If you can afford to stage one room, this is it.
• The kitchen
• Invest in cheap expenses like changing the cabinet fronts, new lights and fixtures, new knobs and drawer pulls, installing a chic new backsplash, resurfacing the floors and getting one new, fancy-looking appliance.
8. Lighten your house
After location, light is the second-most cited reason buyers choose a particular house. Paint the inside walls white, clean the windows, trim back shrubs and trees, replace heavy drapery with sheer curtains or shades, put sheer white shades on your lamps and higher-wattage bulbs.
9. Stage your home
The typical cost of staging a house is $1,500. If you can't spend the money, visit more expensive model homes in your area and try to mimic the look. It's what today's buyers want.
9 TIPS TO SELL YOUR HOME – by Barbara Corcoran
There is a smart way and a not-so-smart way to get the best price for your home in the new year. Selling is both a price war and a beauty contest, and to win both you should check these nine tips.
We talked about five tactics on TODAY, and I promised you a more complete list online.
Here it is:
1. Time it right
Wait a few more weeks to put that "for sale" sign in front of your home. Few houses sell until after Super Bowl Sunday. If your house has been on the market for more than four months, take it off the market and re-list it in two months as "new."
2. Price it at exactly what it’s worth
The most influential factor in selling a home is always price. Don't build "wiggle room" into the asking price. There's a price war out there and you have to win it from the get-go. Shop the competition to see what similar homes are selling for and price your home 10 to 15 percent lower so it's the first house shown. Or you can get price estimates from three good brokers and go with the lowest. If you've overpriced your home, then make one big reduction. The worst thing you can do is make a series of small price reductions along the way — it's the equivalent of chasing the tide as it rolls out.
3. Get your home inspected before you list
Don't wait for the would-be buyer to discover the problems you could have fixed before selling. When they're discovered, buyers will just move to the next house or rack up reasons to expect price cuts.
4. Offer financial incentives up front
Don't wait for the negotiations to throw in extra price incentives — offer them up front. Offer to pre-pay the first year of property taxes, pay closing costs, include free cleaning, lawn care or snow-removal services for a year. If you're moving and have no place to put your money, the best incentive out there today is "seller financing." Make sure to put your incentives front and forward in the listing information.
5. Wage war online
A whopping 89 percent of buyers start their home search online. How your house looks online is the modern equivalent of "curb appeal." Rent a wide-angle lens and good lighting, get rid of your clutter and post at least eight great photos to win the beauty contest.
6. Use the best broker
The top 10 percent of sales agents generate 90 percent of the sales and they're the ones most likely to sell your home. To find a smart broker, go to a reputable firm and ask the sales manager for a broker in the top 10 percent.
7. Spend money on the three key spaces:
• The front of the house
• Buyers decide in the first eight seconds of seeing a home if they're interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds. Edge your lawn, mulch your flower beds, trim your bushes, steam clean your driveway and paint your door and trim.
• The living room
• Get rid of ALL your clutter, including a third of your furniture. Paint the walls a neutral white and add touches of color. If you can afford to stage one room, this is it.
• The kitchen
• Invest in cheap expenses like changing the cabinet fronts, new lights and fixtures, new knobs and drawer pulls, installing a chic new backsplash, resurfacing the floors and getting one new, fancy-looking appliance.
8. Lighten your house
After location, light is the second-most cited reason buyers choose a particular house. Paint the inside walls white, clean the windows, trim back shrubs and trees, replace heavy drapery with sheer curtains or shades, put sheer white shades on your lamps and higher-wattage bulbs.
9. Stage your home
The typical cost of staging a house is $1,500. If you can't spend the money, visit more expensive model homes in your area and try to mimic the look. It's what today's buyers want.
Wednesday, January 12, 2011
New School Boundary Map vs. Your Home Values
Another Step away from Democracy: The New Eden Prairie School District Boundary Maps
And it means over 1,065 children will be going to different schools next fall. This follows the school board’s 4-3 vote last month which approved these changes.
The goal was to reduce the disparity between low-income students at Forest Hills Elementary and the more affluent population of students at Cedar Ridge. Hundreds of Eden Prairie parents opposed the plan but they clearly haven’t been heard.
As a Realtor, it’s always “location, location, location” and School Districts are the primary driver of where most families choose to relocate. Both relocation and local buyers define their search parameters by School Districts. Strong School Districts help to maintain strong housing values – they just go hand in hand.
So, what message is the Eden Prairie School Board sending to their District? What does this mean for parents that have worked hard so they can buy a home in a neighborhood where their children can walk to school - only to have their children bussed out of their neighborhood to a school outside of their community?
I can’t imagine how it would feel to have moved to Eden Prairie a year ago and purchased a home in a neighborhood where your children can walk to school, only to be told a year later, that your children will not, in fact, be going to that school. What is a parent to do?
It sounds like the Eden Prairie School Board is more interested in serving the needs of the low-income families in their District than the needs of the families that have a higher income. A higher income typically translates to higher property values, and higher taxes. Does this make any sense?? The families footing the majority of the tax base in District 272 are the families that haven’t been heard – they have been ignored. What is happening here?? Couldn’t the Board come up with a solution that would serve the needs of all the families in the District?
I like to find the silver lining in challenging or discouraging situations – but I’m just not seeing it here. District 272 has stripped the parents of their choice of which elementary school their children will attend . . . that just doesn’t seem right to me – it doesn’t sound like freedom or even sound American to me….it sounds like socialism. I don’t like it and I don’t even live in the District and according to news reports, there are hundreds of parents in District 272 that don’t like it either.
To see a map with the new boundaries, go to http://www.blogger.com/www.StarTribune.com.
And it means over 1,065 children will be going to different schools next fall. This follows the school board’s 4-3 vote last month which approved these changes.
The goal was to reduce the disparity between low-income students at Forest Hills Elementary and the more affluent population of students at Cedar Ridge. Hundreds of Eden Prairie parents opposed the plan but they clearly haven’t been heard.
As a Realtor, it’s always “location, location, location” and School Districts are the primary driver of where most families choose to relocate. Both relocation and local buyers define their search parameters by School Districts. Strong School Districts help to maintain strong housing values – they just go hand in hand.
So, what message is the Eden Prairie School Board sending to their District? What does this mean for parents that have worked hard so they can buy a home in a neighborhood where their children can walk to school - only to have their children bussed out of their neighborhood to a school outside of their community?
I can’t imagine how it would feel to have moved to Eden Prairie a year ago and purchased a home in a neighborhood where your children can walk to school, only to be told a year later, that your children will not, in fact, be going to that school. What is a parent to do?
It sounds like the Eden Prairie School Board is more interested in serving the needs of the low-income families in their District than the needs of the families that have a higher income. A higher income typically translates to higher property values, and higher taxes. Does this make any sense?? The families footing the majority of the tax base in District 272 are the families that haven’t been heard – they have been ignored. What is happening here?? Couldn’t the Board come up with a solution that would serve the needs of all the families in the District?
I like to find the silver lining in challenging or discouraging situations – but I’m just not seeing it here. District 272 has stripped the parents of their choice of which elementary school their children will attend . . . that just doesn’t seem right to me – it doesn’t sound like freedom or even sound American to me….it sounds like socialism. I don’t like it and I don’t even live in the District and according to news reports, there are hundreds of parents in District 272 that don’t like it either.
To see a map with the new boundaries, go to http://www.blogger.com/www.StarTribune.com.
Monday, January 10, 2011
New to Market ~ 10566 Spyglass Drive, Eden Prairie
Presenting another Exceptional Home from Stafford Family Realtors:10566 Spyglass Drive
Eden Prairie, Mn 55347
New to market, this stunning one owner detached townhome offers main-level living at its best in a perfect location close to downtown Eden Prairie. Enjoy a Gourmet Kitchen, Great Room floor plan & a vaulted main-level Master Suite.
Open Tuesday, January 11, 2011 11:00-2:00!
Saturday, January 8, 2011
For Sale: 4BR/3BA Single Family House in Waconia, MN, $333,000
Presenting another Exceptional Home from Stafford Family Realtors!
1604 Manchester Place
Waconia, MN 55387
For Sale: 4BR/3BA Single Family House in Waconia, MN, $333,000
Only available due to relocation, this stunning one owner home shows better than new construction. Enjoy maple mill work throughout, a Great Room floor plan, main floor Office and spacious Kitchen. All situated on a spacious .43 acre lot in the demand neighborhood of Oakpointe. Don't miss out on this great opportunity!
Waconia, MN 55387
For Sale: 4BR/3BA Single Family House in Waconia, MN, $333,000
Only available due to relocation, this stunning one owner home shows better than new construction. Enjoy maple mill work throughout, a Great Room floor plan, main floor Office and spacious Kitchen. All situated on a spacious .43 acre lot in the demand neighborhood of Oakpointe. Don't miss out on this great opportunity!
Tuesday, December 21, 2010
Great News for the Real Estate Market this week
MAAR’s Weekly Market Activity Report – Pending Sales Up 10% Over Last Year
Remember the week ending May 1? The weather was considerably warmer, there wasn’t more than two feet of snow on the ground and the optimism was high surrounding our professional sports teams. Things change.
That fateful week in May was also the last time our market recorded a year-over-year increase in weekly pending sales…until now.
For the week ending December 3, there were 606 pending sales, an increase of 10.0 percent from the same week last year. That’s the first year-over-year increase in 30 weeks. Whether this positive trend continues will depend upon job growth and other economic factors, but this small sign of hope is nice to see in December.
On the opposite end of the spectrum, new listings are consistently not matching last year’s marks — a welcome sign in this era of high supply. The 1,081 new listings for the most recent week is a decline of 13.8 percent from last year’s pace and marks the 11th week of the last 13 to post a year-over-year decline.
For the full market report visit
http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf
MAAR Weekly Market Activity Report is information from the Minneapolis Area Association of REALTORS
Remember the week ending May 1? The weather was considerably warmer, there wasn’t more than two feet of snow on the ground and the optimism was high surrounding our professional sports teams. Things change.
That fateful week in May was also the last time our market recorded a year-over-year increase in weekly pending sales…until now.
For the week ending December 3, there were 606 pending sales, an increase of 10.0 percent from the same week last year. That’s the first year-over-year increase in 30 weeks. Whether this positive trend continues will depend upon job growth and other economic factors, but this small sign of hope is nice to see in December.
On the opposite end of the spectrum, new listings are consistently not matching last year’s marks — a welcome sign in this era of high supply. The 1,081 new listings for the most recent week is a decline of 13.8 percent from last year’s pace and marks the 11th week of the last 13 to post a year-over-year decline.
For the full market report visit
http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf
MAAR Weekly Market Activity Report is information from the Minneapolis Area Association of REALTORS
Friday, November 19, 2010
Staging Works!
Before I even had a chance to tell you about our wonderful new listing on 2345 Sheridan Terrace in Minnetonka, we SOLD it!
This amazing home was previously listed with another agent and our sellers came to us asking what we could do for them. After deciding to work with Stafford Family Realtors, Sharla conducted a staging appointment and gave the sellers some pointers to get their home ready for market. Not only did a few minor staging items make a huge difference, we sold the home in 4 DAYS!
In a Buyer’s Market, first impressions are extremely important. Having your home prepared for market and staged to appeal to the largest group of buyers will distinguish your home above the competition. The proof is in the numbers: Staged homes sell 15% faster and for 17% more money.
The first suggestion she made was to paint the living room and kitchen. Take a look at these before and after photos.
Many different color paints on the walls can be shocking for buyers when they enter a room. Tone it down with more neutral colors. Pottery Barn offers free color books that have some great color options.
If you would like more information on staging or any suggestions, please feel free to visit StaffordFamilyRealors.com and contact us today! We know what it takes to get homes sold!
This amazing home was previously listed with another agent and our sellers came to us asking what we could do for them. After deciding to work with Stafford Family Realtors, Sharla conducted a staging appointment and gave the sellers some pointers to get their home ready for market. Not only did a few minor staging items make a huge difference, we sold the home in 4 DAYS!
In a Buyer’s Market, first impressions are extremely important. Having your home prepared for market and staged to appeal to the largest group of buyers will distinguish your home above the competition. The proof is in the numbers: Staged homes sell 15% faster and for 17% more money.
The first suggestion she made was to paint the living room and kitchen. Take a look at these before and after photos.
Many different color paints on the walls can be shocking for buyers when they enter a room. Tone it down with more neutral colors. Pottery Barn offers free color books that have some great color options.
If you would like more information on staging or any suggestions, please feel free to visit StaffordFamilyRealors.com and contact us today! We know what it takes to get homes sold!
Thursday, September 30, 2010
Great Minnesota Fall Drives - Are you a leef peeper?
by Linda (minnemom) of Travels with Children
These crisp fall days are perfect for a fall drive and the fine spectator sport of “leaf-peeping.” If you’re up for a tour of the fall colors in Minnesota, consider these destinations:
Split Rock State Park
The North Shore Drive, north of Duluth along the shores of Lake Superior. The leaves were just starting to turn when we were there at the end of September. Combined with the views of Lake Superior, there are some spectacular sights to see. If you want to go beyond driving and see the leaves close-up, stop at Gooseberry Falls State Park or Split Rock Lighthouse and take a walk in the woods.
Fall Colors at Historic Forestville
Southeastern Minnesota. We were in the Preston area last weekend, and the colors were beautiful. Check out the paths near Historic Forestville, or find a gravel road and wander around for a while.
The Minnesota River Valley. Follow the Minnesota Scenic Byway for some beautiful views in the river valley. I saw a beautiful combination of green, yellow, and bright red there yesterday. For a great lookout point, climb to the top of Hermann Monument in New Ulm (check for fall hours).
Find your own: Check out the Minnesota DNR’s Fall Color Reports to see where leaves are at their peak color.
If you have your kids along, find a park and let them play in the leaves. Find some that are interesting. Make a pile and jump in with them. Then find somewhere to stop for a cup of hot chocolate on the way home.
Fall is the perfect time to get off the highways and enjoy the back roads. The combination of blue skies, crisp fall air, and beautiful fall colors is hard to beat.
Do you have a favorite fall drive, in Minnesota or elsewhere?Read more: http://attractions.uptake.com/blog/beautiful-fall-drives-in-minnesota-184.html#ixzz111apZZJg
Wednesday, September 29, 2010
Great New Listings!!!
1735 Carriage Drive, Victoria
$550,000
MLS: 3971695
Priced below market & loaded with designer amenities! Enjoy special features such as a Main Floor Office, 3 Fireplaces, a Gourmet Kitchen with extensive Granite countertops, Butler's Pantry & large Walk-in Pantry. Newly complete the professionally Lower Level with a 5th Bedroom, full service wet bar Bar & Family Room!
2012 Amberg Court, Chaska
$374,900
MLS: 3971239
This beautiful former model home features a spacious floor plan & stunning finishes including walnut floors, soaring vaults, gourmet kitchen & main floor office. Perfectly located and offering easy access to shopping, restaurants, schools and the new 212 Medical Center.
5105 Hooper Lake Road, Deephaven
$345,000
MLS: 3973860
Nestled on a beautiful, private lot in desirable Deephaven & the award-winning Mtka School District! This beautifully remodeled home has been totally updated from pillar to post including all tiled baths, hardwood floors, and new Stainless steel Appliances!
For more information on these listing or to check out all our listings, please visit StaffordFamilyRealtors.com.
Return on Investment?
The return on that investment comes in two forms. First, you live in the house and so it provides you with a real flow of valuable services. The second part of the yield on investment is the capital gain you receive if the home appreciates and you sell. Gains are excluded from taxation if the property is a primary residence and the gain is less than $250,000 for a single filer or $500,000 for a married couple filing jointly.
Do the math. Four years ago, the monthly payment on a $300,000 house with 20% down and a mortgage rate of about 6.6% was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20% down would carry a rate of about 4.2% and a monthly payment of $833. In addition, the down payment would be $42,600 instead of $60,000.
Do the math. Four years ago, the monthly payment on a $300,000 house with 20% down and a mortgage rate of about 6.6% was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20% down would carry a rate of about 4.2% and a monthly payment of $833. In addition, the down payment would be $42,600 instead of $60,000.
Tuesday, August 17, 2010
New to market in Longacres!
Welcome to 7357 Bent Bow Trail in the demand neighborhood of Longacres. Rarely available, this stunning neighborhood offers beautiful winding streets, 3 private neighborhood parks and great events throughout the year.
From pillar to post this home has been completely remodeled with designer finishes and custom touches on every level.
The formal dining space offers large windows and a vaulted ceiling along with a custom granite topped serving buffet.
The three season porch offers a beautiful setting to relax in private.
The gourmet kitchen has been totally remodeled with a beautiful backsplash and new granite counters. The large center island offers a breakfast counter on enjoy a meal in the eat-in dining space.
The two-story Great Room features a stone-faced fireplace flanked by built-ins.
You will also find a main floor office in this home.
The second floor offers four bedrooms including the master suite with private bath and large walk-in closet.
The fully finished lower level is where you will find a second fireplace perfect for curling up with a good book, the family room offers custom built-in entertainment center. The spacious game room features a full service kitchenette. There is a large bedroom currently used as an exercise room and finished play room.
Nestled on a premier lot in this stunning neighborhood, this home enjoys the privacy offered by the mature trees that cover the property. The backyard is home to a spacious deck perfect for entertaining or relaxing, wander down to the custom fire pit and enjoy the professional landscaping.
Friday, August 13, 2010
Stunning New Listing in Wynnfield of Eden Prairie
Welcome to 8127 Spruce Trail in the demand neighborhood of Wynnfield. This stunning one owner home is sited on one of the best lots in the neighborhood. Backing to a tranquil pond, enjoy the beautiful view from this home.
Only occupied by one owner, this home has been meticulously maintained and lovingly updated. You will find custom touches throughout from the well appointed Gourmet Kitchen featuring new granite and stainless steel appliances to the main floor Office with its custom built-in cabinetry.
The main floor offers beautiful spaces for relaxing or entertaining. Enjoy a meal in the formal Dining Room or curl up with a good book in the Four Season Porch.
The Great Room features one of the two gas fireplaces in the home. The second floor is where you will find four bedrooms including the private Master Suite featuring a sitting room, 3 large walk-in closets and a private bath with Jacuzzi tub and His & Her vanities.
The fully finished lower level offers a 5th bedroom, Hobby Room and spacious Family Room & Billiards Room. Walk out to the covered patio and enjoy the privacy offered by the mature trees.
This home truly has no equal in Wynnfield.
To schedule a private showing, please contact us for a private showing at 952.470.2575 or visit StaffordFamilyRealtors.com for more information.
Only occupied by one owner, this home has been meticulously maintained and lovingly updated. You will find custom touches throughout from the well appointed Gourmet Kitchen featuring new granite and stainless steel appliances to the main floor Office with its custom built-in cabinetry.
The main floor offers beautiful spaces for relaxing or entertaining. Enjoy a meal in the formal Dining Room or curl up with a good book in the Four Season Porch.
The Great Room features one of the two gas fireplaces in the home. The second floor is where you will find four bedrooms including the private Master Suite featuring a sitting room, 3 large walk-in closets and a private bath with Jacuzzi tub and His & Her vanities.
The fully finished lower level offers a 5th bedroom, Hobby Room and spacious Family Room & Billiards Room. Walk out to the covered patio and enjoy the privacy offered by the mature trees.
This home truly has no equal in Wynnfield.
To schedule a private showing, please contact us for a private showing at 952.470.2575 or visit StaffordFamilyRealtors.com for more information.
Wednesday, August 4, 2010
Good News from Freddie Mac
Freddie Mac Featured Perspective
July 21st, 2010
The Housing Market You've Been Saving ForJuly 19, 2010 – Like a rare astronomical event, America is experiencing a conjunction between very affordable home prices and historically low mortgage rates that hasn't been seen for at least 50 years. Since nobody knows how long this will last, today's market is a rare buying opportunity for working families with stable incomes and good credit.
There are even some hints the present combination of historically low rates and more reasonably priced homes are beginning to slip away in some markets. For example, the National Association of Realtors' housing affordability index, while still high, has dropped nearly six percentage points in the past few quarters as existing home prices in many areas have reversed course and begun to rise again.
So why aren't more families in the homebuying market? While job worries may have some potential buyers holding back, others are sitting on the sidelines because they are unsure about the new rules of the road for getting a conventional conforming mortgage. They are actually straightforward and not so difficult for families who have:
· A stable income;
· A good credit history
· A common-sense down payment. Generally, about five percent of the purchase price for a conventional, conforming mortgage. (Fortunately, there are down payment assistance programs for qualified borrowers.) Documentation – responsible lenders today will want documentation verifying your income (like W-2 forms, tax returns), employment, credit history, and assets – such as bank statements -- to verify savings.
· Under the new rules of the road, the lender must also obtain an impartial third-party appraisal that complies with tough new rules to verify that the value of the house you want will support the mortgage you need to finance it.
Anyone still unsure about the new rules should ask a reputable lender to pre-qualify them for a mortgage. Think of a pre-qualification letter almost like a driver's permit for the new rules of the homebuying road. A mortgage pre-qualification letter can:
· Confirm you can qualify for a mortgage
· Tell you how much you can expect to borrow;
· Make you a stronger home shopper since sellers won't have to worry about whether you can qualify for a mortgage.
During the pre-qualification process the lender will review your credit, financial, and employment information. There may be an application fee. Athough mortgage pre-qualifications are usually only good for a limited time they are still worth getting. The reason: even though you will need to apply for a mortgage once you find a house to buy, your pre-qualification letter helps clear the way by telling home sellers you're road-tested for the most affordable mortgage market in 50 years.
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