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.

Spring is here is Owatonna

Market Buzz in Owatonna Minnesota Real Estate

Things are starting to pick up in April so the outlook is brighter with some increased activity. It seems that our spring market is about a month behind – just like our spring weather. The two seem to go hand in hand this time of year.

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 Kriss Meier of Countrywide Financial (through Profinium Bank in Owatonna) 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 Kriss at 507-446-4289. 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 60 closed listings in Owatonna, with 54 of those being residential properties. The average sale price of sold properties is $161,361 which is down from 2007 when the average sale price at this time was $172,611. 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 176 days which is actually down from 188 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.

We have 33 new listings on the market since the first of the year. At this time 70 homes are pending sale, and we have 206 active residential listings. 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. So far 57 listings have expired since the first of the year. That has been the biggest change in this market with many nice homes staying on the market beyond their original listing time frame. That number is up 533% from the 2005 market when homes seldom took more than 6 months to sell.

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. Find the house that's right for you.

What's Going on in Owatonna Minnesota?

What’s Going On In Owatonna in April?

April is Fair Housing month. Realtors abide by all the fair housing and non-discrimination regulations, and it’s a good time to make consumers aware of the laws we that affect our industry and the public.

Running from the 3rd of April through April 6th, is the Minnesota Alpaca Expo at the Four Seasons Centre.

There will be a Minnesota Chamber Federation Legislative Call Update at the Owatonna Area Chamber of Commerce and Tourism office on April 4th, April 11th, and April 18th from 7:30 am to 8:00 am.

There will be a lecture regarding business leader Dan Gainey, entitled “Man With Vision” at the Village of Yesteryear on April 8th starting at 1:00.

The fun-filled Young Life Cake Auction will be held at a new location this year. Owatonna High School Gym will hold the festivities this year on April 12th from 12:00 – 5:30 pm. If you’ve never participated in the cake auction before, take some time to stop in and enjoy the fun.

The Knight of Nights silent and live auction will be held at St. Mary’s School on April 12th. It’s a fun-filled evening for a good cause.

A class is being offered on April 14th “How to Sell Like A Pro”

April 19th marks the date for Big Brother’s Big Sister’s Bowl for Kids’ Sake. It’s a great day to bowl, have some fun, and raise some money for a great organization. I’m a Big Sister and I know my little and I will be bowling that day. Come on out to Southpark Lanes and have some fun.

The Little Theatre of Owatonna is presenting “Funny Money”, which runs starting 4/18 and ends on 4/26. You can check the Little Theatre’s website for production times.

The Retrofit Companies are hosting a Free Household Electronics Recycling on April 19th from 8:00 am to 10:00 pm.

April 19th marks the day of the Shriner’s Application Day.

The Owatonna Area Chamber of Commerce’s Business After Hours will be held on April 22nd from 5:30 until 7:00 pm. at Infinia of Owatonna. This is a great time for Chamber members to network and socialize.

A delicious end to the month will be held on April 24th from 5:00 until 7:30 pm. with the annual “Taste of Steele County” with vendors providing samples of a variety of foods from around the county. All proceeds raised during the event will be donated to CONTACT.

Buyer Services

SERVICES PROVIDED TO BUYERS

Our company is a member of two Multiple Listing Services (MLS) which allows us to keep you informed of any new listings from any MLS participating company. If you see an exciting ad or a house with a different company’s sign in the yard, we can get the information and show you that property.

We watch daily for the following:
1. Houses that are back on the market because the buyer’s financing did not go through.
2. PRICE REDUCTIONS (sometimes as high as $20,000)
3. New Listings!! The best homes may sell before the ad reaches the paper.

NO PRESSURE: The average buyer may look at several homes before making a decision. We’ll work on your time-line.

If you wish to build a new home we can recommend quality builders for your new construction project and help you find the perfect lot. We can help you explore the options.

We will spend time with you, up front, just learning about your real estate needs. Together, we can determine the style of house you like, how many bedrooms, what size of garage and yard and anything else that’s important to you in a home.

Education. We will educate and counsel you about the buying process, agency and representation, what to look for in a home, inspections, purchase agreements, and the closing process. We’ll guide you from start to finish.

Financing. We can help you connect with a reputable local lender who will be able to meet with you to determine your financing needs.

If you have a house in the area to sell before purchasing, we will do a COMPLIMENTARY Comparative Market Analysis showing you what you can expect to “net” when you sell.

Our buyers and sellers appreciate the frequent updates we provide until the sale closes.

We are professional Full Time Agents with complete support services.

Your purchase is important to us and we’ll work hard to earn your business and keep you as a client.

We enjoy marketing homes and helping buyers find a home they can be happy in. We look forward to working with you, and we will do our best to serve all your real estate needs.