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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
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