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Weekly Real Estate Update
January 27, 2014

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Some say the big story of 2014 will be higher interest rates, some say it will be more inventory while others say it will be less foreclosure activity. The truth is likely to be an amalgamation of all of the above. The year 2013 was marked by variable but steady job growth, a good leading indicator of market activity. While consumers may be uneasy about higher rates, economic improvements can potentially offset any negative impact on affordability. The seasoned agent will recall a time when plenty of consumers were vying for properties when rates were double and triple what they are now.

In the Twin Cities region, for the week ending January 18:

• New Listings decreased 8.3% to 989
• Pending Sales decreased 24.8% to 591
• Inventory decreased 9.5% to 11,918

For the month of December:

• Median Sales Price increased 13.1% to $190,050

• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7
As reported by the Minneapolis Area Association of Realtors

Interested in buying or selling real estate?

Contact the Walsh Sisters. We’d love to help you make your next move.

Ellen and Kate Walsh
612-220-3304
emwalsh@cbburnet.com

Coldwell Banker Burnet

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Considering downsizing? Call us. We’d love to help you make your next move.

Ellen and Kate Walsh
612.220.3304
Coldwell Banker Burnet

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I love this version of holiday decorating. It’s simple yet sparkly!

There’s a bit of organic whimsy here that I find especially appealing. I’ve decided to sell my fake tree and get a branch from nature. How are you decorating your home?

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Magnolia Cottage

I saw this sign on the front of a house during one of my travels. It was a charming house. A white brick exterior with black wood shutters, window boxes and front door. The shutters featured a black iron curlicue along the bottom, detailing that stood out against the white background.

Magnolia Cottage Window

A white picket fence wrapped around the house, and the gate opened onto a gently curving flagstone walking path that led to the front door.  A mix of green shrubbery sat along the foundation of the house. Everything was neat and tidy and appealing.

Magnolia Cottage Ext

Many of the homes on Captiva Island have names. I always take pleasure in reading what people have chosen to name their homes. Unfortunately, you rarely see a lot of the homes on Captiva due to the long driveways and tremendous tropical growth. The homes are well hidden from the road.

The signs are all on the road. Each one is individually created. I often wonder what the homes are like, and what the owners are like. Does the sign personality mirror the house and occupants?  Does the name say something about one occupant and the artwork about another? Who came up with the name? Do owners who buy these named homes keep the names or create a new one or pull the sign up out of the ground and go without? One thing I know. Of the homes that had been named and could be seen, all were well-kept and maintained. It makes me think there is something in a name: a sense of pride, a little more love, an embracing of home as part of the family.

Have you named your home? I’d love to hear the name and what it means to you. In the meantime, I’m going to think about a name for my own home. Stay tuned.

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Here’s a beautiful room that reminds me of summer. I love the dark wood floors, the white walls and furniture, the wood accents (coffee table and chair arms), the fireplace, and the wall of windows. This is a great example of bringing nature inside your home. Isn’t it inviting? The pet dog seems happy enough.

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Weekly Real Estate Update
February 25, 2013

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Here’s an oldie but goodie: All Real Estate is Local. We’ve all heard it. This is why industry insiders don’t pay much attention to national housing statistics. The national housing market is just an agglomeration of local housing markets. You don’t grab an umbrella in Miami based on the weather forecast in Seattle. So why would someone in San Francisco base a home sale or purchase decision on market data from Boston? Here’s your data for your local housing market.

In the Twin Cities region, for the week ending February 16:

• New Listings decreased 4.9% to 1,196
• Pending Sales increased 7.9% to 916
• Inventory decreased 31.0% to 12,309

For the month of January:

• Median Sales Price increased 14.3% to $160,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 2.5% to 93.5%
• Months Supply of Inventory decreased 40.0% to 3.0

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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Painting the front door of your home a different color than the rest of your home makes a statement and draws attention to your entry. Here’s a Cape Cod style home in Minnetonka.

I’ve tweaked the front door with Photoshop to show the difference with a door painted another color. An actual paint job would retain the depth of the panels on the door. See how the eye is drawn to the front door?

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Weekly Real Estate Update
November 12, 2012


1.3 million. That’s how many Americans were reportedly lifted out of underwater mortgage situations this year from rising home prices, according to the Obama administration’s October Housing Scorecard. There’s more going on than meets the eye here. Rising prices also help restore tax base, decreasing the likelihood of tax increases later. National GDP even benefits. When real estate is chugging along, things are good. And now, arguably more so than ever in the past four or five years, real estate is starting to chug again. It’s not at full speed yet, but the open track ahead beckons.

In the Twin Cities region, for the week ending November 3:
• New Listings decreased 1.0% to 1,125
• Pending Sales increased 25.3% to 930
• Inventory decreased 27.7% to 15,434

For the month of October:
• Median Sales Price increased 14.8% to $174,995
• Days on Market decreased 25.0% to 103
• Percent of Original List Price Received increased 3.5% to 94.4%
• Months Supply of Inventory decreased 41.0% to 3.7

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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Weekly Real Estate Update
October 23, 2012


Housing pessimism is as out of fashion nowadays as bell bottoms and shoulder pads. Those who are still fishing for that elusive “market bottom” have likely missed it in most areas. The major story continues to be tightened inventory and high buyer turnout. Homes should be selling faster and for closer to list price – or even above in the hottest neighborhoods. Continue to monitor key differences between the foreclosure and traditional segments as well as variability between the single-family and condo markets.

In the Twin Cities region, for the week ending October 13:
• New Listings increased 7.3% to 1,252
• Pending Sales increased 26.7% to 954
• Inventory decreased 28.8% to 16,017

For the month of September:
• Median Sales Price increased 12.6% to $174,500
• Days on Market decreased 28.4% to 101
• Percent of Original List Price Received increased 4.0% to 94.8%
• Months Supply of Inventory decreased 39.6% to 4.1

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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Autumn Beauty

On Tuesday I spent the afternoon with a friend. We walked around Lake of the Isles. The crimson and golden hues presented plenty of photo opportunities. Here’s are some photos from the afternoon walk. Big thanks to my friend for stopping and waiting for me to capture all the images.

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Looking to transform a room with color? Ready to get moving with rollers and brushes? Now’s a good time to get paint at a discount! And you don’t have to paint right now to get the discount. Paint next week or the following week. You get the picture.

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Happy First Day of Autumn

Look to nature when considering color palettes for your home. Learn what colors you are drawn to. See which color combinations catch your eye and please you. Some colors are calming, soothing. Others pop out such as these wine and red-colored leaves against their green background. Bring the beauty of the earth into your interior spaces.

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I love this week’s theme from the WordPress Weekly Photo Challenge. There are so many opportunities to capture people in the midst of their everyday lives. What do you see in your life? Here are things I saw on a recent trip to San Francisco and back here at home.

Mobile phones are a big part of everyday life

Another phone user, this time at the airport

A window cleaner

Cleaning at the airport

And back home again, at the Centennial Lakes Art Fair

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Photo of the Day
September 11, 2012

This is my second food photo this week and it’s unusual for me to post food photos. I’ve been the recipient of home-grown vegetables this week and I can’t resist the brilliant colors and the beauty of this food. My own basil plants are growing like weeds. Many of us use our homes for cooking and eating. This is the perfect time of year to cook, making the most of the summer harvest. Bon appétit!

A medley of zucchini, red pepper, garlic, slivered almonds, fresh basil, Parmesan cheese, sea salt and pepper.

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A rental building in Minneapolis and the patio created by the artist tenant

A creative environmental message in Saint Paul, MN

A torn lace curtain in a window of a home in St. Paul, Minnesota

Learn about the WordPress Weekly Photo Challenge here.

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Interior Design or Art?
Both.

Art Prints

Artist Benjamin Bullins has taken a discarded bike and created a bathroom vanity. Bullins doesn’t stop with the bike vanity. The mirror has been fashioned from an old trombone case. A snare drum has been made into a ceiling light fixture. The bike’s handlebars are now towel bars (not shown). And what’s not to love about the basket as a towel holder?

Bullins aims to create sculptures that reflect the culture of his hometown of New Orleans. He successfully achieves this here and manages to be creative, functional and green at the same time.

Sell Art Online

What do you have around your house that can be re-purposed and re-used in a new way? I suspect many of you will love this bathroom bike vanity design. If you’re not the Do-It-Yourself type, contact Benjamin Bullins about buying his mixed-media artwork. Yes, artwork. And vanity and mirror. Both are available for purchase through the artist. Contact him at his artist website.

Read more about the very talented artist and photographer Benjamin Bullins.

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Weekly Real Estate Update
July 16, 2012


With the second quarter now in the books, seasonal peaks and valleys should start to become apparent. Even if activity begins to slow for the remainder of 2012, gains are still likely when compared to the same time last year. Housing demand has been strong, supply levels have been falling and prices are turning a corner in many local markets. Keep a watchful eye toward market times, percent of list price received at sale and months of supply.

In the Twin Cities region, for the week ending July 7:
• New Listings decreased 21.9% to 970
• Pending Sales increased 24.6% to 892
• Inventory decreased 30.8% to 17,134

For the month of June:
• Median Sales Price increased 10.4% to $179,000
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.1%
• Months Supply of Inventory decreased 44.0% to 4.5

As reported by the Minneapolis Area Association of Realtors

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Weekly Real Estate Update
June 18, 2012


The report card for this week showed higher grades than last year at this time for both buyers and sellers. Activity levels are higher on both sides, which is indicative of recovering confidence in the local market. Prices in certain areas have already turned a corner, and it is not unreasonable to expect a continuation of this trend.

As summer begins to swelter, also keep a watchful eye on active listings, absorption rates, days on market and percent of list price received. Being schooled in these metrics is like having an open book during the final exam.

In the Twin Cities region, for the week ending June 9:
• New Listings increased 0.4% to 1,582
• Pending Sales increased 29.4% to 1,231
• Inventory decreased 31.0% to 17,540

For the month of May:
• Median Sales Price increased 10.5% to $169,000
• Days on Market decreased 19.6% to 125
• Percent of Original List Price Received increased 3.8% to 94.6%
• Months Supply of Inventory decreased 44.7% to 4.6

Click on graphs/images below to view larger.

As reported by the Minneapolis Area Association of Realtors.

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