Minnesota Real Estate News (townhouse, buying, mold)

[Cruz Azul Guy]

If that were the case you would be buying up alot of property in my neighborhood right now.....but please don't. I want there to be more owner occupied properties

[Robert P Stewart]

I'm of the belief that an area should be better for me having been there as a property owner (owner occupied or not). I have very strict requirements for my tenants, namely that they take care of their home and are respectful neighbors. I have no interest in being an absentee landlord.

In fact, I teach classes in how to be (what I feel is) a proper landlord. There needs to be backup budgets for exteriors, mechanical failures, and snow/lawn care (if the tenant requires that). Much of being a high quality landlord is high quality business. You wouldn't know my properties are rentals - and I have only had a handful of complaints in several years (which were dealt with immediately).

I'm actually excited to see what becomes of your area - you picked up a great deal. I know a few other people who live there who have asked me about some pretty nice remodels they're planning. And that's definitely good for values.

Originally Posted by Slig

If that were the case you would be buying up alot of property in my neighborhood right now.....but please don't. I want there to be more owner occupied properties

[Robert P Stewart]

Lots of homes sold in June - way to go Minnesota! Here are the June average sold prices by area:

Lakeville - single family - $321,500
- townhome - $268,000 (this is high, there were 4 townhouse sales in June and one was $488,600 - actual is probably closer to $220,000)

Apple Valley - single family - $281,700
- townhome - $161,000

Eagan - single family - $302,200
- townhome - $153,600

I take requests too - if you have an area you'd like to know the stats on, just ask in this thread.

Robert

[TimtheGuy]

Originally Posted by Robert P Stewart

Lots of homes sold in June - way to go Minnesota! Here are the June average sold prices by area:

Lakeville - single family - $321,500
- townhome - $268,000 (this is high, there were 4 townhouse sales in June and one was $488,600 - actual is probably closer to $220,000)

Apple Valley - single family - $281,700
- townhome - $161,000

Eagan - single family - $302,200
- townhome - $153,600

I take requests too - if you have an area you'd like to know the stats on, just ask in this thread.

Robert

Could you put Hastings up there Robert?

Thanks,
Tim

[Robert P Stewart]

Absolutely.

Hastings - single family - $182,000 (6 sold)
- townhome - $138,000 (5 sold)

Does that help?

[sta fwd]

Wasn't it just within the last 14 days the the Minneapolis Tribune ran an article in which they found that the Realtors Association was caught cooking the books, and that infact home sales weren't going up all, but in fact were continuing to fall?

I just find it very interesting that each time someone says that the market has stopped dropping and has leveled off, that another article comes out and basicially says 'bull'. I guess we just really need to stop and use our own eyes and sorry, I'm just not seeing the market close to leveling off anytime soon. Dakota County is predicting a record of forclosures this year according to public information released by the county.

Also, if homes are really starting to sell, then some of the homes that have been for sale in Dakota County (where I live) for over two years would be off the market by now. Instead, they just keep flipping realtors and then claiming the home has just been on the market from the time the new realty company took the home over. lol. Give me a break *chuckle*

Plain and simple advice. Want to buy a house? Offer the seller $75,000 to $100.000 off what the house went for about three to four years ago. Thats the reality of the Minnesota housing market.

[sat832]

I personally doubt most of what the Star Tribune prints and it's extremely biased. I'm not sure about the stats, ut based on what I've seen around my home in Lakeville things are looking up!! Homes that were on the market for a year or more have sold. Our builder is selling like crazy and there are always buyers driving around our neighborhood and talking seriously with the model home agent. This was NOT the case a year ago. It was absolutely dead.

[Robert P Stewart]

Hey sta fwd,

My stats simply report what actually sold. Although numbers can be fudged, it is difficult to fudge actual recorded sales.

Myself, I could care less what the media *or* the NAR reports. As far as I'm concerned, each has an agenda and neither can be considered impartial.

I run my real estate business based on numbers - numbers I come up with. Most of the problems I've had in pricing or projecting prices came from using someone else's (or some other organization's) interpretation of the numbers.

A grain of salt with most opinions, including my own

[TimtheGuy]

Originally Posted by Robert P Stewart

Absolutely.

Hastings - single family - $182,000 (6 sold)
- townhome - $138,000 (5 sold)

Does that help?

Thanks Robert.
Wow, that is a TERRIBLE June in Hastings (my hometown). Much worse than I would have guessed. No volume and horrible prices (unless you are a buyer ).

[Haver]

Do you have any specific data or thoughts on townhomes in
(a) Bloomington near Dread Scott playground and along 169 (Coventry, Woodstock, & various quads with the 2nd floor decks)
(b) St Louis Park in the Gettysburg, etc area
(c) Townhomes near Ridgedale (sherwood and those along hopkins crossroad)?

If I'm asking a lot, feel free to ignore - looking for "top of head" or "2 minute lookup" information, not trying to tax anyone's time. Looking to get a townhome next spring under $180K and these are the areas I've been drawn to for the past few months of open house visits.