Real Estate Update

Weekly Real Estate Update
October 9, 2012

Some say that housing and the economy are woven together into a single garment of destiny. Let’s review recent national economic data: a good September non-farm payroll report marking 31 consecutive months of private job growth, the unemployment rate falling to 7.8 percent (a 44-month low), a widely positive S&P/Case-Shiller home price report, and mortgage rates averaging close to 3.4 percent. When you combine the above trends with less housing supply and strong home sales numbers, you can start to see just what’s driving this recovery. Here’s what transpired locally.

In the Twin Cities region, for the week ending September 29:
• New Listings increased 6.2% to 1,314
• Pending Sales increased 15.5% to 1,000
• Inventory decreased 29.6% to 16,261

For the month of September:
• Median Sales Price increased 12.3% to $174,000
• Days on Market decreased 28.7% to 101
• Percent of Original List Price Received increased 4.1% to 94.8%
• Months Supply of Inventory decreased 40.9% to 4.0

As reported by the Minneapolis Area Association of Realtors

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Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.

Ellen and Kate Walsh
Coldwell Banker Burnet
612.220.3304
emwalsh@cbburnet.com

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Real Estate Update, Part 2

Monthly Skinny Video
June 2012

Thinking of buying or selling a home? Give us a call.
We’ll help you move forward!

Interest rates as of today are trending at under 3% for a 15-year loan, under 3.5% for a 30-year loan, and under 4% for a Jumbo loan. It’s a great time to buy!

Ellen Walsh
612.220.3304
emwalsh@cbburnet.com

Kate Walsh
612.220.3309
info@designhouse9.com

Coldwell Banker Burnet
Minneapolis Lakes Office

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Real Estate Update

Weekly Real Estate Update
June 4, 2012


Although the latest jobs report was less than exciting for those waiting for economic recovery to cast a warming glow all across the land, the residential real estate market continued to jog along at a nice pace, as though earbuds were drowning out the din of negative energies trying to dissuade healthy activity. For the most recent week, buyer activity was higher than year-ago levels while listing activity registered lower. Keep watching inventory and sales activity throughout the summer to see if this runner’s high will continue into fall.

In the Twin Cities region, for the week ending May 26:
• New Listings decreased 8.5% to 1,387
• Pending Sales increased 19.2% to 1,231
• Inventory decreased 29.8% to 17,740

For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.2% to 135
• Percent of Original List Price Received increased 3.7% to 93.4%
• Months Supply of Inventory decreased 41.7% to 4.8

As reported by the Minneapolis Area Association of Realtors.

Click on graph to view larger

Click on graph to view larger

Click on graph to view larger

For additional information on the market and for assistance buying and selling a home, contact us:

Ellen Walsh
612.220.3304
emwalsh@cbburnet.com

Kate Walsh
612.220.3309
info@designhouse9.com

Coldwell Banker Burnet
Minneapolis Lakes Office

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The Shiny Bath

Tiled All the Way to the Top

Every now and then I come across a  bathroom that features tile across the ceiling as well as the walls. Here’s one example. The light shining across the tile on the three surfaces creates an inviting space here. Do you like it?

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Real Estate Update

Weekly Real Estate Update
May 29, 2012


The tempo in residential housing has remained upbeat through the first five months of 2012. Year-to-date figures begin to sing a compelling tune at this time of year, and the song thus far is that markets are moving back toward balance and home prices are beginning to reflect that stabilization. For the most recent week, buyer activity was higher than year-ago levels while listing activity registered lower. Keep an eye on months supply, seller concessions, market times and foreclosure rates. Multiple offers are back and tentative owners looking to move should take note. It’s okay to sing in public again.

In the Twin Cities region, for the week ending May 19:
• New Listings decreased 9.6% to 1,533
• Pending Sales increased 18.6% to 1,116
• Inventory decreased 29.4% to 17,648

For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.2% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 42.0% to 4.8

Click on graph to view larger image

Click on graph to view larger image

Click on graph to view larger image

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As reported by the Minneapolis Area Association of Realtors.

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Quintessential Blue

Weekly Photo Challenge: Blue

This week’s photo challenge on the The Daily Post is ‘Blue’. So many images come to mind with this word. The sky. Water. Cobalt blue glass. Pottery. Coldwell Banker Burnet real estate signs. The blue jay. Blueberries. Hydrangeas. Where to begin? Let‘s start here:

This, to me, is quintessential blue; the beloved blue jean.

A magazine cover depicting water and the word blue.

Lake Calhoun and the Minneapolis Skyline

A starlit background with a message.

Ready to buy or sell a home? Call us.

Ellen Walsh | 612.220.3304 | emwalsh@cbburnet.com

Kate Walsh | 612.220.3309 | info@designhouse9.com

 

Coldwell Banker Burnet
Minneapolis Lakes Office

Real Estate Update

Weekly Real Estate Update
May 7, 2012

For Week Ending April 28, 2012
All comparisons are to 2011

Buyers don’t live in a spreadsheet. When buyers find a home they love, they are drawn to it like moths to light; they find themselves unable to ignore the emotional significance of the home by an excessively intellectual explanation.

There are generally fewer homes on the market, they’re selling more quickly, and the down trend in prices in most areas is evaporating. Dwindling inventories means there’s less competition and more pricing power for sellers, who are finally starting to be rewarded by strong buyer activity. Interest rates at 50-year lows doesn’t hurt either. Love is in the air and all around the housing market.

In the Twin Cities region, for the week ending April 28:
• New Listings decreased 14.9% to 1,475
• Pending Sales increased 21.4% to 1,187
• Inventory decreased 28.0% to 17,603

For the month of March:
• Median Sales Price increased 7.1% to $149,900
• Days on Market decreased 9.7% to 144
• Percent of Original List Price Received increased 3.8% to 92.1%
• Months Supply of Inventory decreased 37.2% to 4.8

As reported by the Minneapolis Area Association of Realtors.

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Boosting Your Home Appeal at Low Cost

There are plenty of good tips in this article from The Associated Press. If you want tips specific to your home and getting it ready for selling, give us a call. Our background in antiques and interior design has paid off for our sellers with faster than average sale times.

Low-Cost Things
Homeowners Can Do to Spruce Up Property

When times are tough, women who can’t afford a new dress often purchase a new accessory or lipstick to recharge their wardrobes. Known as the “lipstick effect,” the tendency applies to homeowners too.

Barry Culkin, CEO of Questech Corp., a tile manufacturer in Rutland, Vt., noticed sales of his $5 cast stone and marble switch plate covers rose whenever the economy faltered. Last year, sales of their covers at major retailers were up 15 to 20 percent.

As homeowners rein in spending, more opt for small indulgences and postpone major renovations. Whether the goal is a new look for a worn kitchen or simply an injection of color in a room, here’s a list of some of the best ways to give a space a quick uplift. Many cost much less than a designer lipstick and a few don’t require any financial outlay.

“I am seeing quite a bit of Yankee ingenuity in my customers. They are getting pretty smart about using and repurposing items to add some zip to their living spaces,” says Shirley Walsh, owner of Kalembar Dune, a vintage home decor shop in Boston.

Simply moving furniture and accessories around and borrowing from other areas of the home can give a room a whole new look. If you want to splurge, consider hiring a designer who specializes in redesign.

The instant gratification of having it all accomplished in a day is hard to resist but “it’s also low stress because it uses familiar furnishings,” observes Pam Faulkner, owner of Faulkner House Redesign in Oak Hill, Va. The cost to have Faulkner make over a room ranges from $400 and $700 depending on the space.

A little elbow grease also can go a long way. Sparkling windows bring in light and make the entire house shine. Often, all carpets and rugs need is a thorough cleaning and they will feel almost new. The same holds true for wood floors and trim.

Nothing is a better quick-change artist than paint. But you don’t have to go all out. Rather than entire room, paint an accent wall, trim or piece of furniture. “Never underestimate the power of paint and pillows, always the best lipstick for your home in any shade,” advises Marcia Richards, a Phoenix, Ariz., interior designer.

Give a living room or bedroom a facelift by shifting the color scheme. Pillows add instant color, but to complete the look, mix in color keyed accessories, such as a throw and new lamp or lampshade. If your budget allows, go a step further and add a rug and/or slipcovers.

Orders for fabric by the yard are up, says David Petersen owner of Maine Cottage Furniture in Yarmouth, Maine. He notes that more consumers are re-covering rather than replacing worn furnishings.

Small luxuries can have a big impact on our moods and our homes. Flowers and new plants inject new life and color to any space. Try replacing regular light bulbs with full spectrum bulbs which are more like sunlight.

Sometimes all it takes to spark up an entire room is a unique accessory or piece of individual art.

New hardware is traditionally a quick fix for dated kitchen cabinets. But elsewhere, exchanging old doorknobs for polished bronze or nickel can give an entire house an up-to-date look. Using levered handles also increases a home’s universal design quotient.

And maybe you can’t afford to change the tub or the tiles, but a dated bath can get a quick uplift simply by altering a few elements. Instead of remodeling, Michelle Samuels spent about $150 to give a bath in her Mill Valley, Calif., home an update. She replaced her antique gold towel racks and faucets with updated brushed silver versions. She painted the frame around the mirror a soft silver with craft paint and completed the effect with new door handles.

Removing old fluorescent lights and replacing them with pendants or a more contemporary fixture also has a big impact.

Don’t wait until you can renovate to give your kitchen a new look. Sometimes changing only one facet can refocus the entire space. New hardware and light fixtures are quick and inexpensive. Don’t forget refacing or painting cabinets if new is beyond your budget. If the countertops are in good shape, consider tiling the backsplash. Reorganize cabinets so the space works better. Add new accessories or update countertop appliances so they coordinate.

Increasing curb appeal is traditional advice for anyone selling their home. But nothing is more akin to applying lipstick than revamping the entry. Replace a worn front door if the budget permits. Otherwise give the old door a new look with paint. Seasonal plants, new house numbers, a new doormat and trimmed walkway will make you feel like you are coming to a new house.

Shop thrift and consignment stores for some unique finds; then polish and paint. Also think about creating your own artwork in colors that will make a room pop. You will save a bundle and possibly discover an inner artist you didn’t know existed.

© 2010 Camilla McLaughlin, Associated Press

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Ellen Walsh | 612.220.3304 | emwalsh@cbburnet.com

Kate Walsh | 612.220.3309 | info@designhouse9.com

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Real Estate Update

Weekly Real Estate Update
April 2, 2012


The last time you were at the doctor, your vital signs were checked – heart rate, pulse, temperature and blood pressure. Progress was documented and valuable insights were gained, whether it was a routine visit or one of many checks during an extended hospital stay. The housing market has been in and out of intensive care for the past several years. Monitoring vitals matters. The pulse of today’s market indicates that we may be getting ready to leave the ICU. So if you could just please pull up your sleeve, let’s check your blood pressure.

In the Twin Cities region, for the week ending March 24:
• New Listings increased 2.2% to 1,414
• Pending Sales increased 30.2% to 1,052
• Inventory decreased 27.3% to 17,193

For the month of February:
• Median Sales Price decreased 1.4% to $138,000
• Days on Market decreased 9.0% to 145
• Percent of Original List Price Received increased 2.5% to 90.6%
• Months Supply of Inventory decreased 34.8% to 4.7

As reported by the Minneapolis Area Association of Realtors.


Click on chart to view larger size.

Click on chart to view larger size.

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For more information on the market and your real estate needs,
contact the Real Estate team of Kate and Ellen Walsh.

Ellen Walsh
emwalsh@cbburnet.com
612.220.3304

Kate Walsh
info@designhouse9.com
612.220.3309

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For Sale: Mac-Groveland Cottage

Upcoming Listing!
$144,900

This property is now pending and is no longer available for showings.


This charming cottage is coming on the market later this week. The home is set back from the street for greater privacy. The front and side yards have beautiful perennial  gardens and raised beds for annuals and herbs. This home is within walking distance to the river, Grand Avenue shops and restaurants, Macalester College, and the University of St. Thomas.

One Bedroom +  Sun Room, Office or 2nd Bedroom
Living Room
Formal Dining Room
Eat-in Kitchen
Upper Level Loft/Studio
Screened Porch
Hardwood Floors
Garage
Central Air

Walk Score = 85 / Very Walkable

Read about the Macalester-Groveland neighborhood.

Call or email us if you’d like more information. A more complete post, with additional photos, will be posted here later this week.

Ellen Walsh
emwalsh@cbburnet.com
612.220.3304

Kate Walsh
info@designhouse9.com
612.220.3309

Coldwell Banker Burnet

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