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Monday, June 21, 2010
Nice House, Small Price, Big Value! 113 E. North Street, Owatonna
Thursday, April 29, 2010
What's the Buzz in Owatonna Real Estate?
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. 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 507-214-2580. 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 72 closed residential listings in Owatonna. The average sale price of the sold properties is $132,187 which is lower than what we’ve seen historically. 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 properties is 112 days.
At this time we have 231 active residential listings with an average list price of $171,887. They’ve been on the market for an average of 172 days. We have 285 active building lots on the market – so there are plenty of great building lots to choose from for any budget range.
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.
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. 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 507-214-2580. 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 72 closed residential listings in Owatonna. The average sale price of the sold properties is $132,187 which is lower than what we’ve seen historically. 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 properties is 112 days.
At this time we have 231 active residential listings with an average list price of $171,887. They’ve been on the market for an average of 172 days. We have 285 active building lots on the market – so there are plenty of great building lots to choose from for any budget range.
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.
Friday, March 5, 2010
What's the Real Estate Buzz In Owatonna Minnesota?
Well, we’re two months into 2010 and so far 33 homes have sold in Owatonna. The average sale price of the homes that have sold is $118,175, which is down dramatically from 2009, but we do expect to see that number rise as we add more sales. The homes that have sold have done so in an average time of 88 days on the market. The activity that we’ve seen reflects the influx of investors, first time buyers, and the impact of bank-owned properties on our market.
Right now there are 235 homes for sale on the market at an average list price of $172,262 which shows quite a disparity between what’s available and the homes that have sold. The available homes have been on the market for an average of 173 days – which has lengthened over last year.
It’s vitally important for sellers to be realistic about the market when they are pricing their homes, present their homes in top-notch condition, make any necessary repairs, and create a welcoming, WOW impression for potential buyers.
Buyers are presented with an incredible opportunity – historically low interest rates, plentiful selection of homes, affordable prices, and a tax credit incentive. It’s a great time for buyers – in all price ranges.
Right now there are 235 homes for sale on the market at an average list price of $172,262 which shows quite a disparity between what’s available and the homes that have sold. The available homes have been on the market for an average of 173 days – which has lengthened over last year.
It’s vitally important for sellers to be realistic about the market when they are pricing their homes, present their homes in top-notch condition, make any necessary repairs, and create a welcoming, WOW impression for potential buyers.
Buyers are presented with an incredible opportunity – historically low interest rates, plentiful selection of homes, affordable prices, and a tax credit incentive. It’s a great time for buyers – in all price ranges.
Time to Put Away the Skis - on to the next Adventure
Well, the days and nights of cross country skiing seem to be melting away. Not that I’m complaining about the sunny, above 30 degree days that we’ve been experiencing all week. It’s just that I was hoping for a few more opportunities to strap the skis on. We’ve seen some beautiful spots around Minnesota this winter. We toured Forestville State Park near Preston, Nerstrand Big Woods State Park between Northfield, Kenyon and Faribault, Banning State Park near Sandstone, Owatonna’s own Rice Lake State Park, and of course, Kaplan’s Woods. We skied at 5 below zero and when it was in the 30’s in just long sleeved shirts (no mittens, jackets or hats). We took advantage of many full moon evenings, which helped guide our way if the headlamps were running low. In all, it was a wonderfully enjoyable winter – with great snow for skiing. Next year I’m getting some snow shoes just in case the conditions for skiing aren’t quite the same. It’s always a new adventure – something for everyone to enjoy with each season.
Monday, February 15, 2010
Kaplan's Woods Winter Wonderland
Boy, did I ever pick THE best year ever to buy cross country skis. It has been an amazing winter for skiing. We've spent hours on the wonderfully groomed trails throughout Kaplan's Woods and certainly know most nooks and crannies by heart - even in the dark. Speaking of night skiing, we are outfitted with our headlamps and can manuever our way through every twist and turn along the trail while under the stars.
A week ago we skiied through Rice Lake State Park (about 7 miles from Owatonna) during the Candlelight ski event. What a great evening! The friends of Rice Lake Park were offering treats and had a roaring bonfire going.
We are so incredibly lucky to have such wonderful trails and parks so close to home. Even though we've been experiencing a pretty solid Minnesota winter, I've come to enjoy this season just as much as the other seasons that we get to experience. To top it off, I'm getting a heck of a physical work out - along with a wonderful release from and stress or tension - there's nothing like exploring Mother Nature's great outdoors.
A week ago we skiied through Rice Lake State Park (about 7 miles from Owatonna) during the Candlelight ski event. What a great evening! The friends of Rice Lake Park were offering treats and had a roaring bonfire going.
We are so incredibly lucky to have such wonderful trails and parks so close to home. Even though we've been experiencing a pretty solid Minnesota winter, I've come to enjoy this season just as much as the other seasons that we get to experience. To top it off, I'm getting a heck of a physical work out - along with a wonderful release from and stress or tension - there's nothing like exploring Mother Nature's great outdoors.
Wednesday, February 3, 2010
What's This $6500 Tax Credit I Hear About?
Q. I'm already a homeowner. If I buy another home after Nov. 6, 2009, to use
as my principal residence, do I have to sell my home to qualify for the
homebuyer tax credit?
A. No. If you meet all of the requirements for the credit, the law does not
require you to sell or otherwise dispose of your current principal residence
to qualify for a credit of up to $6,500 when you buy a replacement home to
use as your principal residence. The requirements are that you must buy, or
enter into a binding contract to buy, the replacement principal residence
after Nov. 6, 2009, and on or before April 30, 2010, and close on the home by
June 30, 2010. Additionally, you must have lived in the same principal
residence for any five-consecutive-year period during the eight-year period
that ended on the date the replacement home is purchased. For example, if you
bought a home on Nov. 30, 2009, the eight-year period would run from Dec. 1,
2001, through Nov. 30, 2009. (11/17/09)
as my principal residence, do I have to sell my home to qualify for the
homebuyer tax credit?
A. No. If you meet all of the requirements for the credit, the law does not
require you to sell or otherwise dispose of your current principal residence
to qualify for a credit of up to $6,500 when you buy a replacement home to
use as your principal residence. The requirements are that you must buy, or
enter into a binding contract to buy, the replacement principal residence
after Nov. 6, 2009, and on or before April 30, 2010, and close on the home by
June 30, 2010. Additionally, you must have lived in the same principal
residence for any five-consecutive-year period during the eight-year period
that ended on the date the replacement home is purchased. For example, if you
bought a home on Nov. 30, 2009, the eight-year period would run from Dec. 1,
2001, through Nov. 30, 2009. (11/17/09)
Monday, February 1, 2010
What's Going On In Owatonna Minnesota
What’s Going on in Owatonna Minnesota in February?
2/6 Cabela’s Saltwater Experience Cabela’s
2/6 Express Hockey Game Four Seasons Centre
2/6 Valentine’s Dinner & Dance Elk’s Club
2/9 – 3/4 Ham Radio license class Owatonna Fire Department
2/11 SHRM – Recruitment & Applicant Tracking
2/12 Romance with the Past Dinner Village of Yesteryear
2/13 Neil Diamond Impersonator Owatonna Arts Center
2/13 Express Hockey Game Four Seasons Centre
2/13 Habitat for Humanity Art Auction Elk’s Club
2/13 Dad’s Belgian Waffle Brunch Elk’s Club
2/13 Romance with the Past Dinner Village of Yesteryear
2/13 St. Olaf Choir Concert Trinity Lutheran Church
2/18 3rd Thursday Networking Roosevelt Community School
2/19 Little Theater Production Little Theater of Owatonna
2/19 Section 1AA and 1A High School Four Seasons Centre
Girls Hockey Championships
2/23 Business After Hours Torey’s Restaurant
2/6 Cabela’s Saltwater Experience Cabela’s
2/6 Express Hockey Game Four Seasons Centre
2/6 Valentine’s Dinner & Dance Elk’s Club
2/9 – 3/4 Ham Radio license class Owatonna Fire Department
2/11 SHRM – Recruitment & Applicant Tracking
2/12 Romance with the Past Dinner Village of Yesteryear
2/13 Neil Diamond Impersonator Owatonna Arts Center
2/13 Express Hockey Game Four Seasons Centre
2/13 Habitat for Humanity Art Auction Elk’s Club
2/13 Dad’s Belgian Waffle Brunch Elk’s Club
2/13 Romance with the Past Dinner Village of Yesteryear
2/13 St. Olaf Choir Concert Trinity Lutheran Church
2/18 3rd Thursday Networking Roosevelt Community School
2/19 Little Theater Production Little Theater of Owatonna
2/19 Section 1AA and 1A High School Four Seasons Centre
Girls Hockey Championships
2/23 Business After Hours Torey’s Restaurant
Friday, January 29, 2010
Owatonna - 6th Annual Chili Cook Off
About two years ago I attended my first Chili Cook Off and was immediately inspired and intrigued – mostly due to the fact that I was totally thrilled to learn about white chili. I’m not a big red meat eater so to find out that chicken chili exists opened all sorts of cuisine possibilities for me. I decided that when the hockey schedule (my son’s) would permit I find a way to enter my own white chili concoction in the cook off. It took two years to allow for the aligning of the hockey schedule and the Chili Cook Off, but the wait was worth it. I joined forces with a couple of friends and we created a one-of-a-kind recipe for our white chili.
We conducted a bit of a marketing campaign prior to the big day, and not knowing quite what to expect in our first attempt, we approached the event with a lot of enthusiasm. In addition to a large appetite for chili, we have a big appetite for fun, which we had a lot of as we prepa
red our chili the day before, and it carried over to the actual event. The Chili Cook Off is in its 6th year and is organized by the Bill and Marie Lawrence family as a fundraiser for a scholarship that they started to honor the memory of their son, Andrew. The evening was a huge success as they served over 900 people who each paid $7 to attend the Cook Off to sample over 47 kinds of chili. T-shirts were available for purchase, as were beverages and dessert treats. Every taster can vote for their favorite chili – and (drum roll please) guess who won the people’s choice for white chili? We were thrilled as first year entrants to win first place in our category – quite an honor because we had some great competition. Even better, we knew that we were a part of such a wonderful community event. That’s just some of what makes Owatonna a special place to live, work and play – people genuinely care about one another – and really go out of their way to make a positive difference.
Thursday, January 7, 2010
Recap for 2009 Real Estate in Owatonna Minnesota
What’s the Real Estate Buzz in Owatonna?
Sales during October and November picked up and we finished year with an increase in sales (by 28 homes) over 2008. It seems that the first time buyer stimulus plan has been working. We’ve seen a strong presence of those buyers in our market and that helps everyone.
We predicted that first time home buyers would be the mainstay of the 2009 market, along with buyers relocating into Owatonna for their jobs, and it appears to have panned out that way. One of my lending experts, Brenda Bednar (through Advisor’s Mortgage) noted that 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 321 closed residential listings in Owatonna for 2009. The average sale price of the sold properties is $143,424 which is down from 2008 when the average sale price for the year was $159,120. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Our average market time was 117 days which is actually down from 130 in 2008. The market has changed, in particular housing prices.
At the start of the year we have 198 active residential listings with an average list price of $176,880. They’ve been on the market for an average of 185 days which has been increasing.
Interest rates continue to hover near their lows, and the tax credit provides a strong incentive for first time and repeat buyers to make the most of the values that are out there in our local 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.
Sales during October and November picked up and we finished year with an increase in sales (by 28 homes) over 2008. It seems that the first time buyer stimulus plan has been working. We’ve seen a strong presence of those buyers in our market and that helps everyone.
We predicted that first time home buyers would be the mainstay of the 2009 market, along with buyers relocating into Owatonna for their jobs, and it appears to have panned out that way. One of my lending experts, Brenda Bednar (through Advisor’s Mortgage) noted that 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 321 closed residential listings in Owatonna for 2009. The average sale price of the sold properties is $143,424 which is down from 2008 when the average sale price for the year was $159,120. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Our average market time was 117 days which is actually down from 130 in 2008. The market has changed, in particular housing prices.
At the start of the year we have 198 active residential listings with an average list price of $176,880. They’ve been on the market for an average of 185 days which has been increasing.
Interest rates continue to hover near their lows, and the tax credit provides a strong incentive for first time and repeat buyers to make the most of the values that are out there in our local 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.
Home Buyer's Seminar in Owatonna Minnesota
Home Buyer's Informational Seminar in Owatonna Minnesota
This Saturday marks the first Buyer's Informational session that we'll be offering during January. Every Saturday this month starting at 12:30 we'll host a seminar for potential buyers to answer their questions and provide relevant information about purchasing a home. The sessions will be informal and geared toward the attendees and their informational needs.
Any potential buyers (first ot repeat) are welcome to stop by the Coldwell Banker Home Connection office to get up to the minute info about our current local market. Interested buyers can also call me (Lynn Johnson, Broker) at 507-390-6109 or Chad Hacker, Realtor at 507-363-4404.
Chad and I work together as the Owatonna Real Estate Pros through Coldwell Banker Home Connection in Owatonna. By working together we bring experience, knowledge and marketing expertise that provide an unbeatable real estate experience.
This Saturday marks the first Buyer's Informational session that we'll be offering during January. Every Saturday this month starting at 12:30 we'll host a seminar for potential buyers to answer their questions and provide relevant information about purchasing a home. The sessions will be informal and geared toward the attendees and their informational needs.
Any potential buyers (first ot repeat) are welcome to stop by the Coldwell Banker Home Connection office to get up to the minute info about our current local market. Interested buyers can also call me (Lynn Johnson, Broker) at 507-390-6109 or Chad Hacker, Realtor at 507-363-4404.
Chad and I work together as the Owatonna Real Estate Pros through Coldwell Banker Home Connection in Owatonna. By working together we bring experience, knowledge and marketing expertise that provide an unbeatable real estate experience.
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