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!