May 11th, 2010
My Eden Prairie real estate office meeting was busy with new listings, buyer searches and mortgage updates today. A lot of people feared that the end of the tax credit meant real estate would come to a halt. As you might have already figured, there are a lot less first time buyers out there searching, but we learned today that homes are still selling.
- Mortgage rates are still low, today we heard high 4’s to low 5’s depending on your financial situation.
- Home prices are still historically low
If you are thinking about buying or selling this year, don’t forget to check out my home buyer perks and home seller perks to see if you qualify! Year-to-date 9 of my clients have received a free one year home warranty!
Tags: Eden Prairie Real Estate Office, Eden Prairie Realtor, Eden Prairie Realtors, Edina Realty, Home buyer perks, home seller perks
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May 9th, 2010
If your garage door breaks or needs service I have a great contact for you. Tony has fixed my garage door and I have referred him to many of my friends. His number is 952-270-5838.
I also have many other great connections for house cleaning, electrical, handyman repairs and much more. Feel free to give me a call or send me an email for additional information and phone numbers.
Tags: Eden Prairie Realtor, Eden Prairie Realtors, Garage Door Repair, Top Eden Prairie Realtors
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April 29th, 2010
Busy spring = less blogging!
It has been a great start to the year in the real estate world. A lot of home buyers have been able to take advantage of the tax credit, which actually comes to an end tomorrow - April 30th. I have made a lot of great new friends and can’t wait to see how they transform their new houses into a home. Most of my clients purchased move in ready homes this year, although three of them took on the challenge of fixer-uppers! I will have to see if I can get my hands on some of the challenge seeker’s before and after photos to share.
If you wonder what I have been up to in 2010, here you go! Year-to-date I have sold 7 single family homes and 3 town homes. Of the single family homes one was new construction and two were foreclosures. In February, one of my listings sold within 2 days of being on the market! These home sellers priced their home right and had done a lot of updates throughout - new kitchen and baths - which everyone loved! Working with such wonderful buyers and sellers makes my job so much fun!!
Tags: Eden Prairie Real Estate, Eden Prairie Realtor, Top Eden Prairie Real Estate
Posted in Buyers, General Real Estate | No Comments »
April 25th, 2010
Here are some real estate market stats from Q1 this year!
Overview: The Marketplace
13-County Metro
According to information from the Minneapolis Area Association of REALTORS® (MAAR):
• Q1 2010 pending sales were up 7 percent over Q1 2009.
• March’s median sales price was $165,000 – up 7 percent from March 2009. For the third consecutive month, home prices showed a year-over-year increase. Three consecutive months of progressive increasing hasn’t been seen since June 2004.
• In Q1 2010, 46 percent of closed sales were lender-mediated compared with 56.9 in Q1 2009.
• Q1 2010 closed sales were up 4 percent over Q1 2009.
• Q1 2010 active listings were down 10 percent from a year ago.
• Q1 2010 new listings were up 10 percent over Q1 2009.
• Average days on market were at 130 in March 2010 compared with 150 in March 2009.
Based on information from data collected from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. for residential properties in the 13-county region exclusively.
Tags: Eden Prairie Market Stats, Eden Prairie Real Estate, Eden Prairie Realtor, Eden Prairie Realtors
Posted in General Real Estate, Market Updates | No Comments »
March 12th, 2010
There are a few FHA loan program changes going into effect April 1st that I wanted to share with everyone. FHA loans are what most first-time home buyers qualify for, unless they are able to put 20% down and move into a conventional loan.
FHA Changes:
- FHA Mortgage Insurance Premiums are set to increase from 1.75% to 2.25%, which means the home buyer will need to bring more money to the closing table
- Sellers will only be allowed to give 3% to the buyer to defray closing costs, down from 6%
- Borrowers with a credit score of 580 or less will be required to put 10% down in cash to qualify for a loan. Borrowers with good credit scores will still only have to put 3.5% down
For more information on these new FHA loan program guidelines please contact your loan officer. If you do not have a loan officer I’d be happy to refer you to one.
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February 17th, 2010
There are only 75 days left to take advantage of the first-time home buyer and move-up home buyer tax credits (unless of course they decide to extend it again….who know!?!)
Tags: First-time Eden Prairie home buyers, First-time Twin Cities Home Buyers
Posted in Buyers, General Real Estate | No Comments »
January 28th, 2010
The Marketplace
13-County Metro
According to data released by the three Twin Cities area REALTOR® associations:
- In the 13-county metro area, total pending sales for 2009 ended at 52,167 – up 18 percent over 2008 and the highest number of units sold since 2005.
- The median sales price in the 13-county metro area in 2009 was $166,000 - down 14.9 percent from 2008. However, prices have seen stabilization recently. December’s median sales price was only down 3 percent from one year prior.
1. 2009 traditional median home price: $204,000 (-8.3 percent from one year ago)
2. 009 median sales price for lender-mediated: $124,000 (-14.2 percent from one year ago)
- In 2009, 43 percent of closed sales were lender-mediated compared with 31.4 in 2008.
- 2009 closed sales were up 16.7 percent over 2008.
- At the start of 2010 active listings were down 22.3 percent from a year ago.
- 2009 new listings decreased 11 percent from 2008, the lowest showing since 2003 and the third consecutive year of substantial decline.
- Average days on market were at 132 in Dec. 2009 compared with 148 in Dec. 2008.
Based on information from the “2009 Year End Housing Sales Statistics Press Release” published in concert by the Minneapolis Area Association of REALTORS® (MAAR), Saint Paul Area Association of REALTORS® (SPAAR) and North Metro REALTORS® Association (NMRA). Data collected from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. for residential properties in the 13-county region exclusively.
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January 4th, 2010
It is hard to believe that 2010 is already here! In the coming year I will be sure to keep you posted on the local market, new housing trends and so much more! If you have any suggestions or topics that you would like to hear about please let me know.
CONGRATS to all the new 2009 homeowners!
Things to remember……
- The $8,000 & $6,500 tax credits will be expiring soon. You must be under contract by April 30th, 2010
- Interest rates are still historically low, but they won’t stay that way forever
- Don’t forget I am offering a FREE Home Warranty to buyers and sellers (click here for details)
Posted in General Real Estate | No Comments »
November 21st, 2009
The possibility of a light rail coming to Eden Prairie is pretty big news for commuters or individuals that would just prefer public transportation to downtown Minneapolis. The Southwest light rail project is expected to be completed in 2030 if it all moves forward as planned, with the route to Eden Prairie completed much earlier in 2014. Route 3A would start in Eden Prairie and then head through Hopkins, St. Louis Park, ending in Minneapolis. Once light rail riders reach downtown Minneapolis they would then be able to connect with other rail lines. For more information on this project visit Southwest Transitway.
Tags: Eden Prairie light rail, Eden Prairie Realtor, Eden Prairie Realtors, Eden Prairie Transportation
Posted in Around Town, Twin Cities Info | No Comments »
November 19th, 2009
From all the information I have learned recently we are expected to see a second wave of foreclosures and short sales hitting the market as we enter and move through 2010. Next year is when analysts are saying the foreclosures are going to peak due to unemployment and underemployment. Everyone’s hope is that once we move through these distressed properties we can then move back to a more stable and steady market in the years to come.
For more information on foreclosures and short sales visit my website. I have done both short sale and foreclosure transactions, so if you have a specific question please feel free to call or email me.
Tags: Eden Prairie Foreclosures, Eden Prairie Realtor, Eden Prairie Realtors, Eden Prairie Short Sales
Posted in General Real Estate | No Comments »
