Open Houses - Sunday, April 29, 2007

Time: 12:00 PM to 3:00 PM - Sunday, April 29, 2007
Address: 10 Hill Street
Location: Chanhassen, MN 55317


Time: 12:00 PM to 2:00 PM - Sunday, April 29, 2007
Address: 2500 Clover Field Drive
Location: Chaska, MN 55318

Go to www.StaffordFamilyRealtors.com for more information. For questions, call Sharla Stafford at 612-282-6895.

2500 Clover Field Drive, Chaska, MN 55318 - $400,000

Only relocation makes this home possible – totally turnkey and immaculate! This is a wonderful family home that shows like a Model with a price that beats new construction. Situated on a premier lot in the Clover Ridge Neighborhood – a family friendly community with private parks, tot lots and walking trails. The fully-fenced backyard is perfect for play – with plenty of room to run. The views are magnificent – with mature trees and a huge pond that is home to wildlife and waterfowl. With an Open and Spacious Floor Plan and a welcoming and elegant 2 Story Foyer, a Gourmet Kitchen with a Breakfast Bar, Granite Countertops, Stainless Steel Appliances and large Walk-in Pantry. The Kitchen opens to the Great Room with a Gas Fireplace surrounded by built-in bookshelves and cabinets for storage. There is a “lifestyle” room that can be used as Formal Dining Room, a Main Floor Office or an Away Room. There is also a main floor Laundry Room with loads of cabinets and large Mudroom. The upstairs has a spacious Master Suite with extra large Walk-in Closet, His/Her sinks, Jacuzzi Tub and Separate Shower. Three additional Bedrooms share a Family Bathroom with Double Sinks. There is plenty of storage with large closets in all the Bedrooms and a Linen Closet in the Bathroom. The Lower Level is unfinished – finish to your liking and build equity in this wonderful home! Conveniently located to schools, shops, restaurants, trails and parks – just minutes to the new HWY 212 with no negative noise impact.

10 Hill Street, Chanhassen, MN 55317 - $700,000

Enjoy this beautifully remodeled walkout rambler on Prime Lotus Lakeshore! 50 Feet of flat, sandy shoreline on 1+ Acres situated on a park-like setting. This walkout rambler has been completely remodeled and is turnkey - it is truly “like new” down to the framing. With an open, Great Room Floor plan, the design makes great use of space and reflects the character of an older home with wood floors, arches and right-sized rooms. Sunlight pours through the west facing wall of windows flooding the home with warmth and light all year long. The all new white enameled kitchen has a large center island with Corian countertops. It looks out to a hearth room with lake views and a wood-burning fireplace. The Lower Level has been finished for fun with a Billiards are, Full Bar, and Family Room. Walkout and enjoy Lotus Lake year round! Oversized 2 car Garage and 1 Car Tuckunder. Panoramic Lake views from nearly every room of this exceptional home.

Simple Ways to Boost Curb Appeal

The outside of a home can be just as important as the inside in attracting buyers. Maureen Gilmer with the DIY Network offers the following five cheap and easy ways to improve curb appeal:

1. Edge it. Make the distinction crisp between lawn and flowerbed or sidewalk. Replace old edging materials with tumbled concrete payers — the heavier they are the better they stay in place.

2. Mulch it. Cover bare ground with two inches of attractive mulch.

3. Stain it. Old concrete walks, steps, and planters crack, stain, and discolor. Cover them with new colored concrete stains. The result unifies paving and mimics more expensive stone.

4. Color it. Worn out fences can give the property a black eye. Stain them with muted colors like warm gray, soft green, antique gold, or subtle blue.

5. Plant it. Buy whole flats of six packs of single color annuals.

Record Setting Foreclosures

Foreclosures slipped 4 percent in February from the month earlier, but were 12 percent higher than the same time in 2006."Based on our numbers for the first two months of 2007, foreclosure activity is running at a rate that would project to a 33 percent increase over 2006," said James J. Saccacio, chief executive officer of RealtyTrac.States with the highest foreclosure rates in February were Nevada, Colorado and Florida. Nevada had one foreclosure filing for every 278 households. Colorado reported one foreclosure for every 345 households, and Florida had one foreclosure filing for every 382 households. Nationwide, there was one foreclosure for every 884 households.

We're seeing several homes that are facing foreclosure coming on market in the West Metro and Twin Cities. If you're interested in learning more, please contact Eric or Sharla Stafford at 952.474.2525.

Weekly Market Activity Report

Unsurprisingly, the Twin Cities housing market found it difficult to battle through the monumental snowfalls seen during the week ending March 3. With schools and offices closed throughout the metropolitan area due to the inclement conditions, buyers and sellers followed suit. Compared to one year ago when weather conditions were relatively normal, new listings fell by 23 percent and pending sales fell by 28 percent. Time will tell just how much of this decline can be attributed to meteorology rather than general market conditions.

This week's edition of the MAAR Weekly Market Activity report includes updated March 2007 figures for the Housing Affordability Index (HAI) and the Housing Supply Outlook (HSO). The HAI grew to 141 due to another dip in interest rates and a slight decline in home prices. As our market continues to work through its post-boom correction period, housing affordability is making important improvements. Home prices, interest rates and consumer income will affect the HAI.

The HSO grew to 7.0 months, which means it will take approximately 7.0 months for the current supply of available properties to sell. The market is considered balanced when there is roughly a 5-month supply of homes available for purchase. Previously owned homes have 6.4 months of supply, while newly constructed homes have 10.5 months of supply.

Sharla Stafford, Realtor
Coldwell Banker Burnet, MTKA Office
Cell: 612.282.6895
Direct: 952.470.2578
Office: 952.474.2525
Fax: 952.474.9583
www.StaffordFamilyRealtors.com
skstafford@cbburnet.com

Experts Predict Big Foreclosure Fallout

As home prices fall and lenders tighten credit terms, some observers close to the subprime market predict that things are going to get worse before they get better.

The delinquency rate for all types of mortgages rose to 4.67 percent in the third quarter of 2006 from 4.39 percent in the prior three months, a gain of 6 percent, according to the Mortgage Bankers Association.

Foreclosures last year were up 42 percent from 2005 levels, and will likely rise another 20 percent to 25 percent this year, predicts RealtyTrac Inc., a real estate information service."It's going to be a bloodbath this year," says Renae Gorney, director of loss mitigation at Freedom Foreclosure Prevention Services in Mesa, Ariz.

Christopher Cagan, director of research and analytics at First American CoreLogic, estimates that adjustable-rate mortgage resets will trigger some 1.1 million foreclosures over the next 5 or 6 years, wiping out $110 billion in equity.

While that may sound like a lot, Cagan doesn’t believe the fallout will significantly slow the U.S. economy or even severely damage the mortgage industry because it’s actually a pretty small percentage.Source:

Reuters News, Emily Kaiser (03/12/07)

7 Ways to Get Rid of Pet Odors

When a house you’re trying to sell smells like a pet, there are some tactics that can improve the odor situation. Don Aslett, owner of Varsity Contractors, one of the country's largest cleaning companies, offers up these tips for identifying the source of the smell and then eliminating it:

• Use a fluorescent black light (pet-supply stores sell them), to expose odor-producing spots on the carpet, couch, floorboards and even on drapes.
  
• Remove all solids and blot up as much liquid as possible with a clean towel. Apply an appropriate odor neutralizer or cleaner according to directions.
  
• Never use ammonia, which takes on the smell of what it's supposed to be cleaning, can trigger more accidents.
  
• Choose the best product to remove the problem. On water-safe surfaces, try Simple Solution stain and odor remover. The problem area must be thoroughly soaked and left to dry.
  
• Bramton's Oxy Solution Pet Stain and Odor Destroyer can remove odors and stains from surfaces that won’t withstand soaking, but test first in an out-of-the way place.
  
• The most effective and safest disinfectant for use around pets is Chlorhexidine, which is sold under such names as Nolvasan, Chlorasan and Chlorhex by veterinarians and medical-supply outlets. Use these for problems that demand deep cleaning.
  
• When all else fails, temporarily neutralize odors using a product such as Fresh Wave.
  

Source: St. Louis Post-Dispatch, Sarah Casey Newman (03/10/2007)

Weekly Market Activity Report - March

Weekly Market Activity Report

Buyers and sellers in the Twin Cities residential real estate market aren't immune to historic snowfalls and blizzard conditions. For the week ending February 24 when the region saw the first of two monumental winter storms, new purchase agreements (pending sales) held relatively steady with the previous week rather than taking part in the annual uptick we typically see in late February. Compared to the same time in 2006, pending sales were 16 percent behind and new listings were 4 percent ahead. MAAR expects a similar stagnation to persist in next week's numbers due to the second stronger storm system seen in the first few days of March.

This week's edition of the MAAR Weekly Market Activity Report features an updated Supply-Demand Ratio (SDR) for March 2007 of 5.77. This means that there are approximately 5.77 homes on the market for every projected buyer in the month of March. The SDR typically reaches its lowest point in March of every year before rising alongside seller activity in the spring market. Compared to one year ago, the SDR for March 2007 is 29 percent higher.

Longacres listings

We are so excited about 2 new listings that we are bringing on market. One was listed last night - 7265 Hillsdale Court. A wonderful, turnkey home on one of the best lots in Longacres! The sellers were surprised with twins 8 months ago so have out-grown their home and just put it on the market with us. Check out our website for more details, virtual tours and photos - it is beautiful and at a great price point for the neighborhood which averages in the $600's. We'll host an Open House this Sunday from 1:00 - 4:00 (unless we are buried under 2 feet of snow).

We're listing another home on March 5th that is also on a premium, wooded, cul-de-sac lot with pond views. We're going on market at $669,900 and it is absolutely beautiful - upgraded with custom finishes throughout.

In spite of the wintry weather and impending snowstorm (as I'm writing this the wind is howling off the lake), we are definitely in spring market in the real estate world - and it looks like it's going to be a great year!

Market Analysis from the Minneapolis Area Association of Realtors

As the Twin Cities housing market inches closer to the active spring season, seller activity is not matching the white-hot records of 2006 but still remains ahead of previous years in this decade. New listings for the week ending February 10 were 7 percent behind the same time in 2006. New construction comprises 14 percent of this new inventory and will account for a lower market share in the coming months as existing homes are placed on the market more heavily in the peak spring and summer buying seasons.

Buyer activity remains relatively quiet but anecdotal comments from brokers and agents indicate that buyers are out looking earlier this year. That said, pending sales for the week ending February 10 were 11 percent behind the same time in 2006 and 22 percent behind the same time in 2005. Temperatures in the Twin Cities were unreasonably frigid for that week—an average of 10 degrees below historical norms—and may have helped to depress buyer activity further than market conditions alone would have. Historically low interest rates are still combining with flat home prices to improve affordability and draw buyers back into the fold.

Welcome to our First Blog

We love the web and all it has to offer - and as part of our 2007 Business Plan, we are creating a blog to serve our clients, friends and soon-to-be clients! This blog is going to be all about Real Estate - we serve the Distinctive Homes market in Minneapolis and the West Metro - and are specialists in Lake Minnetonka and it's surrounding areas.

We live on Cook's Bay on Lake Minnetonka and love everything the lake has to offer our family. Each season brings new views and landscapes as well as different outdoor activities - obviously! And this peaceful setting creates a retreat where we can unwind and relax after our whirlwind days of buying and selling homes.

Ever hear the phrase - "Do what you love, never work another day in your life?" That is us - we love what we do and it shows - 100% satisfied clients!

Keep this page bookmarked! We have a new listing coming up in the demand Longacres neighborhood of Chanhassen! This 4 Bedroom/4 Bathroom home is totally turnkey, beautifully finished and situated on a wooded, cul-de-sac lot. The lower level has just been finished and it just rocks! The best part is the price of $519,000! It's hard to get in Longacres for under $550,000 so if you're interested in a private showing, call quickly - this is sure to sell fast! Best way to reach me is at 952.470.2578.