What’s the Real Estate Buzz in Owatonna?

Things were picking up in April and the outlook is brighter with increased activity. It seems that our spring market is about a month behind – just like our spring weather.

We’re predicting that first time home buyers will be the mainstay of this market, along with buyers relocating into Owatonna for their jobs. According to my lending expert Brenda Bednar (through Advisor’s Mortgage) she is taking applications from those two buyer niches. Brenda stresses the importance of good credit when trying to obtain a mortgage. If you have any financing questions you can contact Brenda at 507-455-1858. Her expertise will get you moving in the right direction.

According to the Southeast Minnesota Association of Realtors MLS our year to date activity is showing 81 closed residential listings in Owatonna. The average sale price of sold properties is $162,195 which is down from 2007 when the average sale price at this time was $173,211. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Our average market time is 156 days which is actually down from 173 in 2007 at this time. But looking back, I found that 2006 was 141 days and 2005 was 131 days, again for this same period. The market has changed.

At this time 66 homes are pending sale, and we have 198 active residential listings with an average list price of $190,231. They’ve been on the market for an average of 156 days. We hit over 300 listings before the end of 2007, so it’s nice to see that number come down. We have 286 active building lots on the market.

Market cycles affecting housing come and go, just like all segments of the economy. Right now may seem like a challenging market, but it’s also a market of opportunity. Investors and first time home buyers will be the obvious winners, but existing homeowners can profit, too. If you’re looking to move up into a larger home – it’s a great time to make that move. The inventory and prices of move up homes have never been more plentiful and attractive. Call or e-mail me today to learn about how this market can be beneficial for you. It’s time to get moving.

1435 Jadden Lane SE

Lynn Johnson | Coldwell Banker Home Connection | 507-451-8080 1435 Jadden Lane SE, Owatonna, MN Incredibly attractive and well maintained 4 bedroom 3 bath rambler 4 Bdrm Single Family House offered at $234,000 Year Built 2004 Sq Footage 2,822 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 2 Parking 3 Car garage Lot Size .23 acres HOA/Maint $0 per month DESCRIPTION Very nice 4 bedroom, 3 bath rambler with room for everyone. Enjoy the summer from the patio. Very well maintained home with nice decor. All ready for you to move right in. see additional photos below PROPERTY FEATURES Central A/C Central heat Family room Living room Dishwasher Refrigerator Stove/Oven Microwave Basement Laundry area - inside Balcony, Deck, or Patio Yard OTHER SPECIAL FEATURES Main Floor Laundry Large, lower level family room 3 bedrooms on one level Nicely landscaped Vaulted Ceilings Dry Basement ADDITIONAL PHOTOS Seller contact info: Lynn Johnson Coldwell Banker Home Connection 507-451-8080 For sale by agent/broker Equal Opportunity Housing Posted: Apr 29, 2008, 12:35pm PDT

What's Going on in Owatonna Minnesota?

You can tell Spring is here. All the activities of Spring are a great reminder that even if the weather doesn't act like it, it's here!

This weekend (5/2 through 5/4) will once again see dozens of softball teams from all over the upper Midwest compete and play in Corky's 29th Annual Earlybird Tournament. All of the proceeds raised by the tournament will be used to benefit the Owatonna Park and Rec scholarship fund.

During the tournament, there will be entertainment in the form of Harvey and Joe's DJ services at the cement tent by the ball diamonds on 5/2.

Centro Campesino will host a Cinco de Mayo Celebration at Central Park on May 3rd. The event features a three mile run, food, dance and fun.

If you're tastes run more toward fashion, there's something for you, too. On May 3rd the Steele County Historical Societyis pleased to present a "Hats Off to Mom" fashion show which will be held at St. Joseph's Church.

Also on May 3rd you can catch the Minnesota Sesquicentennial Banner on display at the Owatonna Public Library.

Hopefully, the weather will cooperate for the opening day of the Farmer's Market on Saturday, May 3rd. It's a great place to buy fresh produce and flowers - all grown on local farms. I rarely get a chance to go, because of Saturday morning open houses - I guess I'll just have to get up earlier.

Sunday May 4th marks the day for the SeniorPlace fundraiser pancake breakfast at the Owatonna Eagles Club.

After filling up on pancakes you can stop in at the Fours Seasons Centre for the Blessing of the Bikes - an annual event designed to bless bikers and keep them safe as they travel the roads.

The Four Seasons Centre will be a busy place on May 7th as they are the site for the 5th annual Steele County Senior and Caregiver Expo. There will be vendors and information available for people who work with and provide services to seniors and caregivers.

On May 8th, there will be a seminar that addresses "Recruiting and Retaining Employees in the 21st Century" which will be held at the Holiday Inn near Cabela's.

May 8th wraps up this full week with an informational session at Senior Place provided by Regional Law Services.

Stay tuned to see what else is going on around Owatonna.