Minnesota Homebuyer Blog: May 2010

Monday, May 17, 2010

Rethink the Bridal Registry! Today's Bride & Groom Want a First HOME!

Wouldn’t it be great to take one of those little barcode readers beyond the department store towels, toasters and flat screens and head out to the nearest neighborhood of cozy bungalows and tag something that a new bride and groom really need, their first home? Imagine browsing the internet listings on realtor.com or dropping by a Sunday Open House and using that scanner to click on your favorite new home so you could receive the front door key just in time to be carried over the threshold. Only in a perfect world, right?

I know it is a crazy idea but brides and grooms getting married this year are going to face a tougher time finding a loan as first time buyers. Zero down loans have all but disappeared from the landscape and first time buyers will need cash in their pockets to put toward a new home. As mortgage programs continue to change and evolve, there is a reality to saving for that down payment. A forward thinking young couple might want to divert some of their wedding funds and gifts into an real estate investment in which they can begin their lives together.

In this changed real estate market, new home buyers NEED a down payment for a house. Not just a few bucks either. In most cases a buyer will require a minimum of 3-5% to put down. With an average Minnesota starter home in the $175,000 price range, today's brides and grooms will need to save at least $5,000-$10,000, plus closing costs.

All is not lost for first time buyers, but a little forward thinking is in order. There is a lot of money involved in most weddings; both on the party planning and the gift recipient side. A savvy bride and groom might be able to figure away to have the perfect wedding AND a dream home.

New Home Gift Registry Young couples getting married register for gifts to let their friends and family know exactly what they want and need. If you need a house, why not let your guests know? Maybe the insert in the wedding invitation should read:

“The couple is registered for a small number of necessities at Target, JC Penneys and Macys. If you would prefer not to shop, they are also saving for a down payment for a new home and would a appreciate monetary gift toward their dream.”

I don’t know what Miss Manner’s would say about but I think a financial wiz like Suze Orman would applaud the idea.

Wedding Budget With the average dream wedding going for over $20,000, maybe a little arranging of the budget is in order. Those saved dollars from the dream wedding can go toward that dream home instead. Now, I am not suggesting 'cheaping out" on anything or everything, just take a look at where you can economize on your budget. Maybe you can go forego the fancy invitations or select a less expensive dress. Maybe that trip to Hawaii would be a better choice for your fifth anniversary and a road trip to Duluth, MN to create newlywed memories along the north shore of Lake Superior should be considered instead. Whether on wedding details, reception or the honeymoon, a 25% savings on the average wedding is $5000 cash that could go toward your dream home.

So brides and grooms start thinking about your future lives together and create a plan for your dream home. Though those scanners will not work outside of the a department store, I do! As a professional REALTOR, I have helped many young couples find the first home of their dreams. I know the north and east Twin Cities housing market and can help you spot a deal whether you are looking in Forest Lake or Andover. I will assist you in writing a fair offer and negotiate a deal so your dream can become a reality. And having your OWN agent doesn't cost you any additional fees--The seller pays my commission! Working with an agent to find your first home, takes the stress out of the home buying process so you can focus on making your wedding day special rather than moving in details too.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in

acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Thursday, May 13, 2010

Essential Final Walkthrough Checklist for Homebuyers

With the tax credit timeline to close coming up quickly, there are going to be many closings on properties for first time homebuyers in the next few weeks. Before the closing, there is one essential step that must be taken with your REALTOR®: The Final WalkThrough.

A few days before closing, your agent will call to schedule the date and time of the final walk-through. Don’t get caught up with thinking, "This is great! I needed to check the paint color in the bedroom and measure the windows for blinds." That is not what the final walk-through is for. This is the last opportunity for you to see the home prior to closing. It is an appointment not to be missed or glossed over. It is a time to stay focused on your investment and examine the condition of the property one last time.

The purchase agreement that you signed in the state of Minnesota requires the seller to warrant that the central air conditioning, heating, plumbing and wiring systems on the property are in working order on the date of closing. It also insures the buyer the right to a "walk-through" review of the property prior to closing. This is not something to forego.

Awhile back there was a news report of a St Paul couple who made a huge mistake when they skipped the final walk through of their new home. They headed to their new home, keys in hand with all of their belongings in the moving van, directly to their new home after they signed their closing documents. Their intentions were to move right in and begin enjoying their dream home, Instead they arrived to find a nightmare.

Sometime since they first saw the home and the time they drove up with the keys, a pipe had burst and flooded the entire home. Water poured into the house for several days and they found a virtual indoor swimming pool instead of a home. This young couple had considered the final walk-through unnecessary since they had just seen the home a few weeks ago. “What could have changed?” was their misguided thinking.

Now they were the proud but frustrated owners of a huge mess. Although they may have legal remedies for having the home repaired, these buyers would have been in a much better position if they negotiated with the seller prior to signing the closing documents. Or in the case of this extreme damage, the buyers could have refused to sign and not purchase the home.

It is imperative that every buyer do a final walk-through on the property they intend to purchase as close to the closing as possible. I suggest to my clients that we schedule the walk-through an hour or two before the closing appointment. We meet at the home to review the condition of the property and then go directly to the closing. If any problems are noted, I immediately contact the seller's agent via cell phone so he/she will have time to discuss the situation with the seller and determine alternatives to address the issues.

The walk-through just prior to closing doesn't eliminate every surprise that a new buyer might face. But it significantly reduces the chance of closing on an unknown disaster. Here is a quick guide of some of the areas to consider during a final walk through:

Final Walk-Through Guide

Double Check the Paperwork
**Are all work orders complete? Are you satisfied with the results?

Exterior Review
**Check for any changes to exterior since purchase agreement.

Plumbing Review
**Flush all toilets.
**Check all faucets for water pressure and temperature.
**Check operation of all appliances

Interior Rooms Review
**Check for any changes to interior since purchase agreement.

Electrical Review
**Check all lights, outlets, bathroom fans and kitchen fans.

Furnace and Air Conditioning Review
**Check operation of all systems.

Attic and Basement Review
**Check for changes in any stained, damp or wet areas.

The final walkthrough should be done with a complete checklist and organized plan. After a review of the home inside and out with a checklist will get you back to exciting part of that final walk-through...Will the couch look better here or there?

NEED A COMPLETE CHECKLIST? CLICK HERE for The Final Walkthrough Checklist at terieckholm.com .

Tuesday, May 11, 2010

First Time HOMEBUYER? 100 Real Estate Questions ANSWERED!

First time buyers have many, many questions as they move through the process of buying their dream home. Some of these are general in nature and some are very specific to a property and location. While specific questions are best handled by a local REALTOR, there is an awesome resource for those general, "where do I start" questions.

The US Department of Housing and Urban Development, better known as HUD, thought so too. HUD has prepared a list of 100 of the most commonly asked questions regarding real estate and the process of how to buy that first home. To make it easier for a potential buyer to find answers, the questions are broken down into ten areas:

Getting Started

Finding a Home

You’ve Found It

General Financing

First Steps

Finding the Right Loan

Closing

How Can HUD and FHA Help

Mortgage Insurance

FHA Products

What kinds of basic home buying questions are on the list? Here are a few sample questions:

HOW DO I KNOW IF I'M READY TO BUY A HOME?

WHAT SHOULD I LOOK FOR WHEN DECIDING ON A COMMUNITY?

IS AN OLDER HOME A BETTER VALUE THAN A NEW ONE?

HOW CAN I FIND INFORMATION ON THE PROPERTY TAX LIABILITY?

DO I NEED TO BE THERE FOR THE INSPECTION?

HOW DO I SELECT THE RIGHT REAL ESTATE AGENT?

The answers to these home buying questions (and 95 more), can be found at the HUD website. But while the HUD website is informative, it is only a website after all and will not have a specific answer to every question you might have. That’s where the experience of a professional REALTOR comes in. Feel free to email, call or text me at 651-336-7073 with any specific real estate question you might have.

White Bear Lake, MN Real Estate Market Statistics First Quarter 2010

Just about everyone who grew up in the Twin Cities north and east metro is familiar with the White Bear Lake community. Whether your memories are of passing the iconic gigantic snow white bear statue at Polar Chev, swimming at Bellaire beach or setting sail across White Bear Lake, everyone seems to know something about the community. But few know the legends that surround the lake and that Manitou Island is at the center of it all. The legend has been documented by several writers but the most notable was Mark Twain who wrote of the Indian warrior who killed the great monster of a polar bear to save himself and his lover in his book, “Life of the Mississippi”.

Legends aside, today the White Bear Lake community is a vibrant area that is continually growing while preserving its rich heritage. There is no doubt that the shores of White Bear Lake are the most well known as one of the largest lakes in the north metro as it spreads from Ramsey County into Washington County. But there are two other lakes in the City of White Bear Lake: Birch Lake and Goose Lake as well as Bald Eagle Lake in White Bear Township. This town is the home of the White Bear Lake School District #624 and Century College while encompassing 11 square miles of land. Real estate opportunities include both historic homes and recently constructed residences. First time buyers, executive home buyers, retiring downsizers and luxury lakeshore buyers have a wide variety of options if the choose to call White Bear Lake home.

2009 Average Sales Price of all homes sold in White Bear Lake:

All Homes $186,735

Single Family Homes $192,195

Townhomes/Condos $150,823

2009 Average Cumulative Days on Market in White Bear Lake:

All Homes 146

Single Family Homes 133

Townhomes/Condos 153

Year End White Bear Lake residential real estate statistics for single family homes:

Under $200,000~ 51 Active Listings, 33 Pending Listings, 30 Sold Listings, 119 CDOM

$200,000-300,000~69 Active Listings, 31 Pending Listings, 14 Sold Listings, 135 CDOM (Lakeshore Subgroup 1 Active, 1 Pending, 1 Sold, 13 CDOM)

$300,000-$400,000 ~ 24 Active Listings, 7 Pending Listings, 2 Sold Listings, 217 CDOM (Lakeshore Subgroup 1 Active, 0 Pending, 1 Sold, 205 CDOM)

$400,000-$500,000 ~ 8 Active Listings, 1 Pending Listings, 0 Sold Listings (Lakeshore Subgroup 4 Active, 1 Pending, 0 Sold)

$500,000-$1,000,000~ 29 Active Listings, 3 Pending Listings, 4 Sold Listings, 643 CDOM (Lakeshore Subgroup 16 Active, 0 Pending, 1 Sold, 436 CDOM)

$1,000,000 and Up ~12 Active Listings, 0 Pending Listings, 1 Sold Listings, 357 CDOM (Lakeshore Subgroup 8 Active, 0 Pending, 1 Sold, 357 CDOM)

Year End White Bear Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 53 Active Listings, 10 Pending Listings, 11 Sold Listings, 121 CDOM

$200,000-300,000~ 14 Active Listings, 0 Pending Listings, 1 Sold Listings, 502 CDOM

$300,000-$400,000 ~ 8 Active Listings, 0 Pending Listings, 0 Sold Listings

$400,000-$500,000 ~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000-$1,000,000~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in the White Bear Lake area
30 Active Listings

White Bear Lake lakeshore price range: $249,900-$3,200,000

4 Homes on Birch Lake
11 Homes on Bald Eagle Lake
15 Homes on White Bear Lake

For additional information on any current White Bear Lake real estate listing or for additional information on buying a home in White Bear Lake contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 3/31/10.

Home Sales Statistics for other communities in the north metro:

2009 Year End Snapshot of Andover, MN Home Sales Statistics

2009 Year End Snapshot of Blaine, MN Home Sales Statistics

2009 Year End Snapshot of Centerville Market Statistics

2009 Year End Snapshot of Chisago City, MN Home Sales Statistics

2009 Year End Snapshot of Circle Pines, MN Home Sales Statistics

2009 Year End Snapshot of Columbus, MN Home Sales Statistics

2009 Year End Snapshot of Coon Rapids Market Statistics

2009 Year End Snapshot of East Bethel, MN Home Sales Statistics

2009 Year End Snapshot of Forest Lake MN Home Sales Statistics

2009 Year End Snapshot of Ham Lake, MN Home Sales Statistics

2009 Year End Snapshot of Hugo, MN Home Sales Statistics

2009 Year End Snapshot of Lino Lakes, MN Home Sales Statistics

2009 Year End Snapshot of Linwood, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Lake, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Township, MN Home Sales Statistics

2009 Year End Snapshot of Wyoming, MN Home Sales Statistics

Wednesday, May 5, 2010

Wordless Wednesday (Almost)--Hobby Farm Heaven!

Living in the country in Anoka County Minnesota can be like a little slice of heaven especially in the springtime when everything is just starting to bloom again! This beautiful red pole barn shot is one of the photos I took for my new listing in Columbus (just west of Forest Lake). 35 Acres to call your own near Carlos Avery Wildlife Management area. Want to see more photos? Take the tour by clicking HERE!

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in

Tuesday, May 4, 2010

Blaine, MN Real Estate Market Statistics First Quarter 2010

The community of Blaine has continued to grow and expand in the north metro of the Twin Cities despite the economic downturn. Just drive down Highway 65 and see the Main Street (125th) overpass to get an idea of how the significant changes have affected the community. Though housing construction had slowed during 2008, it has not stopped and continues to be a force in 2009. New developments expand the housing base, especially in the townhome and lower level price points. Conveniently located along 35W and Highway 65 and connected by Highway 10 just north of the Twin Cities, Blaine is an attractive location for both business and residential development. The community is served by three school districts; Anoka Hennepin District #11, Centennial District #12, and Spring Lake Park District #16. Blaine is best known for the National Sports Center a sport and meeting facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.

Builders’ incentives to home buyers have required home sellers to be very competitive with housing prices making homes in the Blaine area extremely affordable. As I predicted, this affordability did continue throughout 2009. Home sold more quickly in 2009 and at better prices than in 2008 (Click Here to see stats for Blaine for the first quarter of 2008). The homes that are selling best in Blaine continue to be in the under $200,000 price point. There is currently only about 5 months of single family homes in prices under $200,000 in Blaine.

I would speculate that the tax credit incentive boosted the lower end sales considerably by enticing first time buyers into the market. Cumulative days of the market (CDOM) picked up a bit in the lower price points as compared with 2009 by a few days. It is good to note that there were a few more sales in the higher price points too. There is approximately 9 and 11 months of inventory of single family homes in the $200,000- $300,000 and $300,000-$400,000 ranges, respectively. It is also important to note that there are fewer new construction properties in the over $500,000 price range and that builders are starting to construct both townhomes AND single family homes under $200,000. Builders seem to finally realize that buyers are not buying as many “McMansions” in Blaine as they had in years past.

The townhome and condominium market is still selling slower than single family homes but inventory levels have come down considerably in the past year in Blaine. Existing townhome sellers must continue to be aggressive in their pricing to compete with builders if they want to sell their properties in this market. Townhomes under $200,000 have about an 16-18 month absorption rate but little is selling in higher price ranges so it is difficult to assess how long the current new townhome inventory will stay on the market.

2009 Average Sales Price of all homes sold in Blaine:

· All Homes $196,174
· Single Family Homes $216,254
· Townhomes/Condos $150,523

2009 Average Cumulative Days on Market in Blaine:

· All Homes 143
· Single Family Homes 140
· Townhomes/Condos 150

1st Quarter Blaine residential real estate statistics for single family homes:

Under $200,000~ 104 Active Listings, 53 Pending Listings, 59 Sold Listings, 115 CDOM (New Construction Subgroup 4 Active, 2 Pending, 0 Sold)

$200,000-300,000~109 Active Listings, 33 Pending Listings, 34 Sold Listings, 167 CDOM (New Construction Subgroup 35 Active, 15 Pending, 7 Sold, 113 CDOM)

$300,000-$400,000 ~40 Active Listings, 10 Pending Listings, 16 Sold Listings, 119 CDOM (New Construction Subgroup 14 Active, 5 Pending, 7 Sold, 119 CDOM)

$400,000-$500,000 ~ 21 Active Listings, 3 Pending Listings, 4 Sold Listings, 319 CDOM (New Construction Subgroup 4 Active, 1 Pending, 3 Sold, 378 CDOM)

$500,000-$1,000,000~ 20 Active Listings, 4 Pending Listings, 3 Sold Listings, 156 CDOM (New Construction Subgroup 10 Active, 3 Pending, 1 Sold, 47 CDOM)

$1,000,000 and Up ~1 Active Listings, 0 Pending Listings, 0 Sold Listings (No New Construction over $1,000,000)

1st Quarter Blaine residential real estate statistics for townhomes and condos:

Under $200,000~ 115 Active Listings, 40 Pending Listings, 20 Sold Listings, 95 CDOM (New Construction Subgroup 14 Active, 6 Pending, 7 Sold, 40 CDOM)

$200,000-300,000~18 Active Listings, 7 Pending Listings, 0 Sold Listings (New Construction Subgroup 10 Active, 6 Pending, 0 Sold)

$300,000-$400,000 ~ 4 Active Listings, 1 Pending Listings, 2 Sold Listings, 193 CDOM (New Construction Subgroup 3 Active, 1 Pending, 1 Sold, 151 CDOM)

$400,000-$500,000 ~4 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)

$500,000-$1,000,000~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)

For additional information on any current Blaine real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 3/31/10.

Home Sales Statistics for other communities in the north metro:

2009 Year End Snapshot of Andover, MN Home Sales Statistics

2009 Year End Snapshot of Blaine, MN Home Sales Statistics

2009 Year End Snapshot of Centerville Market Statistics

2009 Year End Snapshot of Chisago City, MN Home Sales Statistics

2009 Year End Snapshot of Circle Pines, MN Home Sales Statistics

2009 Year End Snapshot of Columbus, MN Home Sales Statistics

2009 Year End Snapshot of Coon Rapids Market Statistics

2009 Year End Snapshot of East Bethel, MN Home Sales Statistics

2009 Year End Snapshot of Forest Lake MN Home Sales Statistics

2009 Year End Snapshot of Ham Lake, MN Home Sales Statistics

2009 Year End Snapshot of Hugo, MN Home Sales Statistics

2009 Year End Snapshot of Lino Lakes, MN Home Sales Statistics

2009 Year End Snapshot of Linwood, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Lake, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Township, MN Home Sales Statistics

2009 Year End Snapshot of Wyoming, MN Home Sales Statistics

Saturday, May 1, 2010

Forest Lake, MN Real Estate Market Statistics 1st Quarter 2010

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb. The northern Washington County and east Anoka County community of Forest Lake is now considered an integral part of the Twin Cities.

Real estate in Forest Lake, MN was still selling close to pace with 2009 in first quarter of 2010 especially in the lower price points. A total of 45 properties sold in the Forest Lake Area between January and March. Of these homes, 28 properties, were single family homes while the other 17 were townhomes, condos or twin homes.

The Cumulative Days on Market (CDOM) Statistic ran at 160 days for all homes sold during the year so it was only slightly higher for first quarter 2010 at 161 CDOM. Once again, the average price of homes did see a significant drop from in the first quarter of 2010 The average price of a home sold in Forest Lake was $176,776 in 2009 but in the first quarter of 2010, that average is now $158,756 which is another 10% lower.

Not surprisingly, the price category of under $200,000 is the high point with 35 properties sold during the first quarter of 2010 (19 Single family homes and 16 townhomes/condos). The $8000 tax credit really made an impact in the Forest Lake market as the first time buyer homes under $200,000 are not staying on the market for very long. Inventory is manageable under $200,000 with about 6 months of currently listed homes available for sale. Inventory levels are rising in other price points as homes in the $200,000-400,000 categories have exploded again to over 3 year’s worth of inventory. In the $400,000-500,000 price range, homes have seen drop in inventory levels to where there is about 18 month’s worth of inventory.

However, as for the past few years, the high end homes continue to struggle into 2010. Homes over $500,000 remain are at a complete standstill with zero homes sold in the over half a million price category in the Forest Lake area during the first quarter of 2010. Add that to the one home sold in all of 2009 and it will is difficult to calculate an absorption rate. As most lakeshore homes fall into this category, there is an abundance of high valued lakeshore homes to select from in the Forest Lake area. With one sold in the past 15 months and 34 active listings over $500,000, it will over four DECADES for all the homes to sell if sales continue at this rate.

What does this mean for the home buyer? Home buyers in 2010 looking for homes under $200,000 will have to make quick decisions on homes in Forest Lake that appear to be good values. Lakeshore and acreage properties priced under $500,000 seem to be attractive to buyers and selling quickly again, so it is important to be prepared to buy when the right property comes onto the market.

A buyer looking to purchase high-end lakeshore in the Forest Lake area, is in the driver’s seat in 2010! With so much inventory, high-end lakeshore sellers must to be flexible on pricing if they want to be the house with the SOLD sign on their yard this summer! NOW might be the perfect time to negotiate a GREAT deal on a lakeshore home! The inventory is awesome…34 homes with are currently active in the Forest Lake area; some are at attractive and affordable price points. Many have been on the market for several months; some have been on the market for years. With the continued low interest rates it could be a great time to negotiate a deal on your piece of Minnesota shoreline!

First Quarter Average Sales Price of all homes sold in Forest Lake:

· All Homes $158,756

· Single Family Homes $182,822

· Townhomes/Condos $119,118

First Quarter Average Cumulative Days on Market in Forest Lake:

· All Homes 161

· Single Family Homes 146

· Townhomes/Condos 186

First Quarter Forest Lake real estate statistics for single family homes:

Under $200,000~ 41 Active Listings, 11 Pending Listings, 19 Sold Listings, 105 CDOM (Lakeshore Subgroup ~ 0 Active, 0 Pending, 0 Sold)

$200,000-$300,000~ 67 Active Listings, 3 Pending Listings, 5 Sold Listings, 134 CDOM (Lakeshore Subgroup ~ 1 Active, 1 Pending, 0 Sold)

$300,000-$400,000 ~ 20 Active Listings, 2 Pending Listings, 2 Sold Listings, 174 CDOM (Lakeshore Subgroup ~ 7 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 13 Active Listings, 0 Pending Listings, 2 Sold Listing, 535 CDOM (Lakeshore Subgroup ~ 5 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 32 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 34 Active, 0 Pending, 0 Sold)

Year End 2009 Forest Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 30 Active Listings, 11 Pending Listings, 16 Sold Listings, 187 CDOM

$200,000-300,000~8 Active Listings, 0 Pending Listings, 1 Sold Listings, 1 CDOM

$300,000-$400,000 ~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

For additional information on any current Forest Lake real estate listing or for additional information on buying a home in Forest Lake contact Teri Eckholm/ REMAX Specialists directly at 651-336-7073.

35 Active Lakeshore available in the Forest Lake area:

Price range: $175,000-$2,300,000

43 Homes on Forest Lake

1 Home on Clear Lake

2 Homes on Comfort Lake

1 Home On Shields Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 3/31/10.

FEATURED ACREAGE LISTING:

Rambler on 35ACRES! 6711 W Broadway NE, Columbus

Articles on Forest Lake, Lakeshore and Real Estate that might be of interest:

Ham Lake, MN Real Estate Market Statistics 1st Quarter 2010

The City of Ham Lake has a rich history. Incorporated in 1974, Ham Lake became a city after over a hundred years of humble but steady growth. The area was first settled in 1855 by a group of Scottish men on the southwest side of Ham Lake. Though, I can only assume that the lake itself got its name due to its unusual “ham hock” shape, the community started out with a different name. The original name of the community was Glen Carey, which is the Scottish translation of “beautiful valley”. Following a prairie fire in 1857, the first settlers moved but the community was resettled again. The new Scandinavian settlers had a hard time with the pronunciation of Glen Carey and soon the fledging community was known as Ham Lake. Anoka County officially was recognized it as a township in 1871. In the early 1900’s Central Avenue (Highway 65) was a slow commute as it was a wagon trail through the sand and swampland. And we think going through stop light after stop light slows traffic. Though it was graveled and paved at some point, it 1954 before was expanded to four lanes.

Those four lanes are in full use now as more and more people look to buying acreage, executive, luxury and lakeshore homes in the Ham Lake area. The real estate market is not quite as sluggish in Ham Lake, MN as it was in early 2009. Homes are selling again. There are bright spots across the board with homes selling in all price categories under $400,000. New construction sales have picked up a bit with 2 sold and 4 pending compared with zero sold in the first quarter of 2009. The average Cumulative Days-on-Market (CDOM) is down for the first quarter in Ham Lake at 181 days compared to 249 for the same time period in 2009 so there are signs of an improving market. However, first quarter average sales prices were much lower at $216,291 compared with an average sales price of $247,748 for all of 2009. (See homes sales snapshots below for additional details.)

Inventory is down in Ham Lake from the levels seen in 2009; most notably in the higher price points. There are currently 101 homes active on the market compared to 110 in January of 2009. Homes listed at higher prices continue to take months to sell but lower priced inventory seems to sell. There still are more Ham Lake homes than Ham Lake buyers but there are only a handful of homes over $500,000 this year compared to 20 last year. Homeowners considering selling a home in the Ham Lake area must consider the average time to sell a home in the Twin Cities north metro is approximately 6-8 months. Right now inventory levels indicate there is about 11 months of inventory in the Ham Lake area and homes are selling again in every price point. But as in 2009, having your home properly priced and prepared for showings is essential to sell a home in this Anoka County community in 2010.

First Quarter 2009 Ham Lake residential real estate statistics for single family homes:

Under $200,000~ 19 Active Listings, 15 Pending Listings, 13 Sold Listings, CDOM 82 (All existing homes)

$200,000-300,000 ~ 41 Active Listings, 10 Pending Listings, 9 Sold Listings, CDOM 295 (New Construction Subgroup ~ 4 Active, 1 Pending, 1 Sold)

$300,000-400,000 ~ 22 Active Listings, 7 Pending Listings, 2 Sold Listings, CDOM 260 (New Construction Subgroup ~ 5 Active, 2 Pending, 0 Sold)

$400,000-$500,000 ~ 13 Active Listings, 2 Pending Listings, 2 Sold Listings, CDOM 174 (New Construction Subgroup ~ 2 Active, 0 Pending, 1 Sold)

$500,000 and Up~ 6 Active Listings, 3 Pending Listings, 1 Sold Listings, CDOM 525 (New Construction Subgroup ~ 1 Active, 1 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake
11 Active Listings

Ham Lake lakeshore price range: $135,000-$774,900

5 Homes on Coon Lake
3 Homes on Ham Lake
1 Home on Lake Netta
1 Home on Little Coon Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 3/31/10.

Click HERE to Search for Minnesota Lakeshore or Acreage Home!

Articles on Ham Lake, Lakeshore and Minnesota that might be of interest:

Where's the Playground? A Key to Parks in Ham Lake Minnesota
Extremely Affordable Minnesota Lakeshore!
Buying a Home on Minnesota Wetland--Affordable Beauty and Privacy!
Dreaming of Life on Minnesota Acreage? Must have INFO Before YOUR Move!

Home Sales Statistics for other communities in the north metro:

2009 Year End Snapshot of Andover, MN Home Sales Statistics

2009 Year End Snapshot of Blaine, MN Home Sales Statistics

2009 Year End Snapshot of Centerville Market Statistics

2009 Year End Snapshot of Chisago City, MN Home Sales Statistics

2009 Year End Snapshot of Circle Pines, MN Home Sales Statistics

2009 Year End Snapshot of Columbus, MN Home Sales Statistics

2009 Year End Snapshot of Coon Rapids Market Statistics

2009 Year End Snapshot of East Bethel, MN Home Sales Statistics

2009 Year End Snapshot of Forest Lake MN Home Sales Statistics

2009 Year End Snapshot of Ham Lake, MN Home Sales Statistics

2009 Year End Snapshot of Hugo, MN Home Sales Statistics

2009 Year End Snapshot of Lino Lakes, MN Home Sales Statistics

2009 Year End Snapshot of Linwood, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Lake, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Township, MN Home Sales Statistics

2009 Year End Snapshot of Wyoming, MN Home Sales Statistics

Lino Lakes, MN Real Estate Market Statistics First Quarter 2010

Looking for a good deal on lakeshore or acreage in the Twin Cities area north metro? Lino Lakes, MN in Anoka County might be just the ticket. Just north of the Minneapolis and St. Paul, Lino Lakes is an eclectic area of real estate with acreage, lake homes, townhomes, single family starter

homes and country estates. First quarter sales have been very good in the lower price points with bank owned and lender mediated properties impacting the sales. Homes in higher price points and those offered by traditional sellers had longer market times but some properties were selling.

Lino Lakes has a good mixture of lakeshore, acreage and townhome residences but is more known for having a bit of space between the houses. It conveniently located near the junction of the 35E and 35W split, just north of the Twin Cities, Lino Lakes is a 33 square miles treasure. With 13 lakes and acres of beautiful protected wetland, the community is served by three school districts; Centennial District #12, Forest Lake District #831, and White Bear Lake District #624. The gem attraction is the pristine 2,700-acre Rice Creek Chain of Lakes Regional Park Reserve is situated within the heart of the city. Lino Lakes is committed to maintain this treasure and its natural settings and wildlife habitats for years to come.

Lino Lakes single family homes are lingering on the market a couple of weeks less in 2010 than in the first quarter of 2009. The first quarter cumulative days on market (CDOM) statistic is a bit lower than for the average CDOM of 2008 (178 versus 192) Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 11-12 months of inventory. This is just a bit higher absorption rate than last year at this time.

While homes under $200,000 in Lino Lakes appear to have about 6 months of inventory, homes in the $200,000- $300,000 price point are looking at 2.5 times the inventory and market time. While homes in the higher price ranges are looking at a couple of years worth of inventory.Townhomes are doing much better than last year with about 5 months of inventory. Last year at this time Lino Lakes had nearly 3 years of townhouse inventory. High inventory combined with continued low interest rates make it a great time to consider buying Lino Lakes home.

1st Quarter 2010 Average Sales Price of all homes sold in Lino Lakes:

· All Homes $204,323
· Single Family Homes $231,710
· Townhomes/Condos $140,422

1st Quarter 2010 Average Cumulative Days on Market in Lino Lakes:

· All Homes 178
· Single Family Homes 191
· Townhomes/Condos 146

1st Quarter Lino Lakes residential real estate statistics for single family homes:

Under $200,000~ 14 Active Listings, 7 Pending Listings, 7 Sold Listings, 122 CDOM

$200,000-$300,000 ~ 51 Active Listings, 13 Pending Listings, 10 Sold Listings, 234 CDOM

$300,000-$400,000 ~ 29 Active Listings, 3 Pending Listings, 3 Sold Listings, 126 CDOM

$400,000-$500,000 ~ 16 Active Listings, 0 Pending Listings, 1 Sold Listings, 297 CDOM

$500,000 and Up~ 12 Active Listings, 0 Pending Listings, 0 Sold Listings

1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:

Under $200,000~ 16 Active Listings, 9 Pending Listings, 9 Sold Listings, 146 CDOM

$200,000-$300,000 ~ 8 Active Listings, 1 Pending Listings, 0 Sold Listings

Lakeshore available in Lino Lakes as of 4/20/2010

6 Active Listings

Lino Lakes lakeshore price range: $304,500-$1,118,000
1 Home on Amelia Lake
2 Homes on Baldwin Lake
3 Homes on Reshanau Lake

Acreage properties available in Lino Lakes as of 4/20/2010

16 properties listed on 1-2 Acres priced between $189,900-$595,000.
3 properties listed on 2.1-5 Acres priced between $163,000-$269,900
6 properties listed on 5.1-10 Acres priced between $309,500-$1,118,000
1 property listed on 29 Acres priced at $749,900
1 property listed on 80 Acres priced at $6,000,000

Click HERE to Search for Minnesota Lakeshore Home!

For additional information on any current Lino Lakes real estate listing or for additional information on buying a home in Lino Lakes contact Teri Eckholm directly at 651-336-7073.

**All Statistical information sold based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/10.

Home Sales Statistics for other communities in the north metro:

2009 Year End Snapshot of Andover, MN Home Sales Statistics

2009 Year End Snapshot of Blaine, MN Home Sales Statistics

2009 Year End Snapshot of Centerville Market Statistics

2009 Year End Snapshot of Chisago City, MN Home Sales Statistics

2009 Year End Snapshot of Circle Pines, MN Home Sales Statistics

2009 Year End Snapshot of Columbus, MN Home Sales Statistics

2009 Year End Snapshot of Coon Rapids Market Statistics

2009 Year End Snapshot of East Bethel, MN Home Sales Statistics

2009 Year End Snapshot of Forest Lake MN Home Sales Statistics

2009 Year End Snapshot of Ham Lake, MN Home Sales Statistics

2009 Year End Snapshot of Hugo, MN Home Sales Statistics

2009 Year End Snapshot of Lino Lakes, MN Home Sales Statistics

2009 Year End Snapshot of Linwood, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Lake, MN Home Sales Statistics

2009 Year End Snapshot of White Bear Township, MN Home Sales Statistics

2009 Year End Snapshot of Wyoming, MN Home Sales Statistics

More Anoka County Articles that Might be of Interest:

Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!Extremely Affordable Minnesota Lakeshore!
Buying a Home on Minnesota Wetland--Affordable Beauty and Privacy!
Wetland, Lakeshore and Foreclosure--What Does a Minnesota Homeseller Have to Disclose?
Attn: Homebuyers—Are YOU a Veteran? Seven Steps to a VA Loan

April 2010 Twin Cities Real Estate Market Video Update—Market Showing More Signs of Improvement!

The Minneapolis Area Association of REALTORS® released the April monthly skinny video earlier this week. From the information provided it appears that the expiring tax credit and spring weather did impact buyers in the Twin Cities market. Over 5000 purchase agreements were written and accepted during the last month. And the sellers on the receiving end of those purchase agreements were mostly traditional sellers and short sale properties. There was a 76% increase in short sale purchase agreements and a 55% increase in traditional seller purchase agreements. Prices seem to be gravitating toward list price again too with sellers in the Minneapolis/St. Paul area getting an average of 94% of list prices. It's not all rosy news however so check out the video...Get a chance to see some cool photos of the new Target Field too!

Looking for home sales statistics on a specific community? Check out this link to see snapshots and detailed reports on 20 different north metro communities including Ham Lake, Blaine, Forest Lake and White Bear Lake: