One Story in St. Louis Park. New furnace. New roof before close. Just $224,900!
Saturday, November 29, 2008
My Listing On 7604 Zinnia Way N, Maple Grove (Now $166,000)
Maple Grove Townhome. Now just $166,000.
Friday, November 28, 2008
Home sales stubbornly continue to increase through October
Home sales stubbornly continue to increase through October
Minneapolis, Minnesota (November 12, 2008) – According to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc., there were 3,480 pending sales in October, a surprising 6.9 percent increase over October 2007. Closed sales were up 12.0 percent from last year for the same time period comparison.
Year-to-date, pending sales are only 200 units behind this time last year. If these monthly year-over-year increases continue through the remainder of 2008, we will likely end the year with a higher sales count than 2007, something which seemed impossible at the outset of the year when sales activity was considerably slower.
"With weak consumer confidence and a fluctuating stock market, the fact that sales activity has shown a slight improvement indicates that people are tired of sitting on the fence," said Kevin Knudsen, MAAR President.
Consumers are finding opportunities in the more accessible price ranges. Of October's total pending sales, 40.7 percent were listed below $150,000. The increased market share of these bargain-priced properties led to further declines in overall median home prices.
As a result, the October median sales price for the entire 13-county metro area was $180,000, down from last year by 18.2 percent.
Lender-mediated home sales, which accounted for 48.8 percent of all sales, posted a median price of $146,000. This is a drop of $11,000 from last month and a decline of 16.7 percent from last year. Traditional properties had an October median sales price of $223,000, a decrease of 1.4 percent.
The overall decline in home prices helps offset a recent increase in mortgage rates, coaxing the November Housing Affordability Index (HAI) on its upward trajectory by two points over last month to 161. This is an impressive 16.7 percent higher than where it was at this time last year, and back up at extremely healthy levels following a few years of unsustainably low affordability. The national HAI, provided by the National Association of REALTORS®, is currently at a less-healthy figure of 123.
"What's a safer investment right now—housing or the stock market?'" asked MAAR President-Elect, Steve Havig. "The increase in sales activity seems to point to housing for many folks around here."
-MAAR
Minneapolis, Minnesota (November 12, 2008) – According to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc., there were 3,480 pending sales in October, a surprising 6.9 percent increase over October 2007. Closed sales were up 12.0 percent from last year for the same time period comparison.
Year-to-date, pending sales are only 200 units behind this time last year. If these monthly year-over-year increases continue through the remainder of 2008, we will likely end the year with a higher sales count than 2007, something which seemed impossible at the outset of the year when sales activity was considerably slower.
"With weak consumer confidence and a fluctuating stock market, the fact that sales activity has shown a slight improvement indicates that people are tired of sitting on the fence," said Kevin Knudsen, MAAR President.
Consumers are finding opportunities in the more accessible price ranges. Of October's total pending sales, 40.7 percent were listed below $150,000. The increased market share of these bargain-priced properties led to further declines in overall median home prices.
As a result, the October median sales price for the entire 13-county metro area was $180,000, down from last year by 18.2 percent.
Lender-mediated home sales, which accounted for 48.8 percent of all sales, posted a median price of $146,000. This is a drop of $11,000 from last month and a decline of 16.7 percent from last year. Traditional properties had an October median sales price of $223,000, a decrease of 1.4 percent.
The overall decline in home prices helps offset a recent increase in mortgage rates, coaxing the November Housing Affordability Index (HAI) on its upward trajectory by two points over last month to 161. This is an impressive 16.7 percent higher than where it was at this time last year, and back up at extremely healthy levels following a few years of unsustainably low affordability. The national HAI, provided by the National Association of REALTORS®, is currently at a less-healthy figure of 123.
"What's a safer investment right now—housing or the stock market?'" asked MAAR President-Elect, Steve Havig. "The increase in sales activity seems to point to housing for many folks around here."
-MAAR
Monday, November 24, 2008
Monday, November 17, 2008
Tuesday, November 11, 2008
NAR Recommends New Housing Stimulus Legislation
Here is a good article from MAR......
NAR Recommends New Housing Stimulus Legislation
The National Association of REALTORS® will offer a four-point legislative plan to reinvigorate the housing market, calling on Congress to act during a lame-duck session. NAR believes the plan will give a boost to the economy and help to calm jittery potential homebuyers.
The plan features such consumer-driven provisions as eliminating the repayment of the first-time homebuyer tax credit and expanding it to all homebuyers, making higher mortgage loan limits permanent, pushing banks to extend credit to Main Street, and prohibiting banks from entering into real estate.
"Housing has always lifted the economy out of downturns, and it is imperative to get the housing market moving forward as quickly as possible," said NAR President Richard F. Gaylord. "It is vital to the economy that Congress take specific actions to boost the confidence of potential homebuyers in the housing market and make it easier for qualified buyers to get safe and affordable mortgage loans. We are asking Congress to act right away."
The four-point plan includes the following provisions:
Remove the requirement in the current law that first-time homebuyers repay the $7,500 tax credit, and expand the tax credit to apply not only to first-time buyers but also to all buyers of a primary residence.
Revise the FHA, Fannie Mae and Freddie Mac 2008 stimulus loan limit increases to make them permanent. The Economic Stabilization Act, enacted in February, made loan limit increases temporary, and subsequent legislation reduced the loan limits and made them permanent. This has broad implication for homebuyers in high cost areas.
Urge the government to use a portion of the allotted $700 billion that was provided to purchase mortgage-backed securities from banks to provide price stabilization for housing. The Treasury Department should be required to use the newly enacted Troubled Assets Relief Program to push banks to:
Extend credit down to Main Street, making credit more available to consumers and small businesses;
Expedite the process for short sales;
Expedite the resolution of banks' real estate owned (REOs) properties.
Make permanent the prohibition against banks entering real estate brokerage and management, further protecting consumers and the economy.
NAR Recommends New Housing Stimulus Legislation
The National Association of REALTORS® will offer a four-point legislative plan to reinvigorate the housing market, calling on Congress to act during a lame-duck session. NAR believes the plan will give a boost to the economy and help to calm jittery potential homebuyers.
The plan features such consumer-driven provisions as eliminating the repayment of the first-time homebuyer tax credit and expanding it to all homebuyers, making higher mortgage loan limits permanent, pushing banks to extend credit to Main Street, and prohibiting banks from entering into real estate.
"Housing has always lifted the economy out of downturns, and it is imperative to get the housing market moving forward as quickly as possible," said NAR President Richard F. Gaylord. "It is vital to the economy that Congress take specific actions to boost the confidence of potential homebuyers in the housing market and make it easier for qualified buyers to get safe and affordable mortgage loans. We are asking Congress to act right away."
The four-point plan includes the following provisions:
Remove the requirement in the current law that first-time homebuyers repay the $7,500 tax credit, and expand the tax credit to apply not only to first-time buyers but also to all buyers of a primary residence.
Revise the FHA, Fannie Mae and Freddie Mac 2008 stimulus loan limit increases to make them permanent. The Economic Stabilization Act, enacted in February, made loan limit increases temporary, and subsequent legislation reduced the loan limits and made them permanent. This has broad implication for homebuyers in high cost areas.
Urge the government to use a portion of the allotted $700 billion that was provided to purchase mortgage-backed securities from banks to provide price stabilization for housing. The Treasury Department should be required to use the newly enacted Troubled Assets Relief Program to push banks to:
Extend credit down to Main Street, making credit more available to consumers and small businesses;
Expedite the process for short sales;
Expedite the resolution of banks' real estate owned (REOs) properties.
Make permanent the prohibition against banks entering real estate brokerage and management, further protecting consumers and the economy.
Thursday, November 6, 2008
Wednesday, November 5, 2008
Top 10 Winter Energy Savings Tips
Top 10 Winter Energy Savings Tips
Reward yourself and save energy while maintaining your home comfort-level. If these are things you do already, challenge yourself to take the next step. The following are 10 easy tips that are divided among “no-cost, low-cost, and ‘go-big’ (investment)” decisions. So, go on, give them a try!
No Cost
1. Set your water heater to 120°.
It’s simple. Your hot water heater won’t have to work so hard if it’s set at a lower temperature. The temperature control settings on water heaters either indicate “low, medium, and high” or actual temperature settings. Simply consider turning down your water heater to a slightly cooler setting to reduce the amount of energy used to heat the water while still keeping the water warm enough for home use. In fact, each time you lower the temperature by 10°F you’ll save 3–5% on your water heating costs. That’s a savings of $6-$10 a year. *
2. In the winter, to make the most of what Mother Nature gives us—sunlight
Open drapes on south-facing windows to warm your home. Consider closing drapes in rooms that receive no direct sunlight to insulate from cold window drafts. At night, close drapes to retain heat. Up to 15% of your heat can escape through unprotected windows, but the solar heat gain from the sun during the day can conserve valuable energy.
3. Start by setting your thermostat to 68°
Your heating system will operate less and use less energy. Turn your thermostat down 5° at night or when leaving your home for an hour or more to save up to $70 on energy costs each year.**
4. If you have a clothes washing machine, use cold water.
Washing clothes in cold water will save you about $40 a year.
Low Cost
5. Replace your furnace or heat pump filter regularly.
Dirty filters reduce airflow, making your equipment work harder and use more energy. Replace your furnace filter monthly (unless it is a high efficiency filter designed to last several months) during the heating season to reduce heating costs by up to $35 a year.
6. Install a programmable thermostat.
It’s a cinch. A programmable thermostat automatically adjusts your home's temperature settings when you're sleeping or away. Using a programmable thermostat can save you as much as 10%, or $70 a year.
7. Install low-flow showerheads and faucets.
It really helps! 1.8 gallon per minute showerheads can reduce your hot water consumption by as much as 10%. You’ll see savings up to $6 per year for a sink faucet aerator and $20 per year for a showerhead.
8. Switch to compact fluorescent light (CFL) bulbs.
They cost a little more, but you can save about $50 over the life of just one bulb.
Go Big
9. Weatherize and insulate older homes.
This saves up to 20% of your heating and cooling costs. A handy homeowner can seal up holes to the outside by weather-stripping doors and sealing windows and gaps along the home’s foundation. The easiest and most cost-effective way to insulate your home is to add insulation in the attic. Other effective places to add insulation include unfinished basement walls and crawlspaces. Insulating walls can be more complex, so check with a contractor for advice. The average home can see a savings of $140 a year.
10. Purchase ENERGY STAR® appliances.
A smart choice. Appliances and electronics really contribute to your energy bill. When it is time to replace, remember items like refrigerators, washers, TVs and computers have two price tags--purchase price and lifetime energy cost. According to ENERGY STAR, the average homeowner spends about $2,000 on energy bills every year. Change to appliances that have earned the ENERGY STAR rating, and you can save $75 a year in energy costs, while saving the environment.
Reward yourself and save energy while maintaining your home comfort-level. If these are things you do already, challenge yourself to take the next step. The following are 10 easy tips that are divided among “no-cost, low-cost, and ‘go-big’ (investment)” decisions. So, go on, give them a try!
No Cost
1. Set your water heater to 120°.
It’s simple. Your hot water heater won’t have to work so hard if it’s set at a lower temperature. The temperature control settings on water heaters either indicate “low, medium, and high” or actual temperature settings. Simply consider turning down your water heater to a slightly cooler setting to reduce the amount of energy used to heat the water while still keeping the water warm enough for home use. In fact, each time you lower the temperature by 10°F you’ll save 3–5% on your water heating costs. That’s a savings of $6-$10 a year. *
2. In the winter, to make the most of what Mother Nature gives us—sunlight
Open drapes on south-facing windows to warm your home. Consider closing drapes in rooms that receive no direct sunlight to insulate from cold window drafts. At night, close drapes to retain heat. Up to 15% of your heat can escape through unprotected windows, but the solar heat gain from the sun during the day can conserve valuable energy.
3. Start by setting your thermostat to 68°
Your heating system will operate less and use less energy. Turn your thermostat down 5° at night or when leaving your home for an hour or more to save up to $70 on energy costs each year.**
4. If you have a clothes washing machine, use cold water.
Washing clothes in cold water will save you about $40 a year.
Low Cost
5. Replace your furnace or heat pump filter regularly.
Dirty filters reduce airflow, making your equipment work harder and use more energy. Replace your furnace filter monthly (unless it is a high efficiency filter designed to last several months) during the heating season to reduce heating costs by up to $35 a year.
6. Install a programmable thermostat.
It’s a cinch. A programmable thermostat automatically adjusts your home's temperature settings when you're sleeping or away. Using a programmable thermostat can save you as much as 10%, or $70 a year.
7. Install low-flow showerheads and faucets.
It really helps! 1.8 gallon per minute showerheads can reduce your hot water consumption by as much as 10%. You’ll see savings up to $6 per year for a sink faucet aerator and $20 per year for a showerhead.
8. Switch to compact fluorescent light (CFL) bulbs.
They cost a little more, but you can save about $50 over the life of just one bulb.
Go Big
9. Weatherize and insulate older homes.
This saves up to 20% of your heating and cooling costs. A handy homeowner can seal up holes to the outside by weather-stripping doors and sealing windows and gaps along the home’s foundation. The easiest and most cost-effective way to insulate your home is to add insulation in the attic. Other effective places to add insulation include unfinished basement walls and crawlspaces. Insulating walls can be more complex, so check with a contractor for advice. The average home can see a savings of $140 a year.
10. Purchase ENERGY STAR® appliances.
A smart choice. Appliances and electronics really contribute to your energy bill. When it is time to replace, remember items like refrigerators, washers, TVs and computers have two price tags--purchase price and lifetime energy cost. According to ENERGY STAR, the average homeowner spends about $2,000 on energy bills every year. Change to appliances that have earned the ENERGY STAR rating, and you can save $75 a year in energy costs, while saving the environment.
Monday, November 3, 2008
Good Quote
"Former U.S. Federal Reserve Chairman Alan Greenspan wrote in an article for Emerging Markets newspaper that the U.S. housing market will recover in the first half of 2009. 'The recent slowing in the rate of decline in U.S. home prices is the first positive note in this now year-long trauma. More conclusive signs of pending home price stability are likely to become visible in the first half of 2009.'"
--"Greenspan Sees Housing Recovery in First Half of 2009," by Jake Lee, Bloomberg News, Oct. 10, 2008
--"Greenspan Sees Housing Recovery in First Half of 2009," by Jake Lee, Bloomberg News, Oct. 10, 2008
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