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 prepared 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.

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.

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.