What's Going On In Owatonna Minnesota?

What a great time of year to enjoy outdoor activities and fun-filled events around Owatonna. Of course the parks are filling with people who enjoy riding their bikes, walking their pets, playing with kids and picnicking, but did you know that there’s plenty more to do around town? Here’s a list of things to do and events to enjoy that’ll get summer off to a great start:

5/26/09 The Owatonna Chamber’s Business After Hours will be held at the Steele County Historical Society, starts at 5:30
5/29 – 5/30 Smokin’ in Steele for rib and BBQ lovers. This event has been proclaimed by the Governor as the State Championship Barbeque Competition. The event will take place at the Steele County Fairgrounds and several blues bands will be performing during the weekend.
5/30 Young Life holds its annual fundraising car wash at in the parking lot of the former Wal Mart.
5/30 The annual meeting of the Minnesota Rabbit Breeders will be held at the Steele County Fairgrounds
6/1 The Owatonna Country Club will host the annual fundraiser “Golf to Prevent Child Abuse” which benefits the Exchange Club Center.
6/4 Is the kickoff date for the 11 @ 7 Concert in the Park Series featuring the Tuition Daddies. The evening can be enjoyed at Central Park.
6/6 The much anticipated grand opening of the River Springs Water Park.
6/7 The class of 2009 graduates from Owatonna High School. The ceremony takes place at the 4 Seasons Centre.
6/11 – 6/13 The Minnesota Fire Department Convention will be hosted at the 4 Seasons Centre. There are numerous activities and events planned throughout the weekend.
6/12 Street Dance hosted by Just One More to honor the attendees for the State Fire Department convention.
6/13 Parade for Minnesota’s Fire Department convention-goers followed by fireworks in the evening at the Steele County Fairgrounds

Owatonna Minnesota Real Estate Buzz for May 22nd

What’s the Real Estate Buzz in Owatonna?

Things were picking up in April and early May. 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. Property issues are becoming more of a challenge with the increase in foreclosed properties, many of which have deferred maintenance issues to contend with. 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 91 closed residential listings in Owatonna. The average sale price of sold properties is $134,484 which is down from 2008 when the average sale price at this time was $159,861. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Our average market time for sold properties is 115 days which is actually down from 139 in 2008 at this time. But looking back, I found that 2007 was 156, 2006 was 138 days and 2005 was 121 days, again for this same period. The market has changed.

At this time 114 homes are pending sale, and we have 214 active residential listings with an average list price of $195,490. They’ve been on the market for an average of 157 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.