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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
August 21, 2012


Do you hear that? It’s the sound of carts shifting through the back-to-school aisles, filling quickly with notebooks and pencils and glue. It’s the sound of teenagers shuffling through dorms and down storied lanes on their first college orientation. It’s the sound of young professionals readying themselves for their first big job, freshly tailored. It’s the sound of a family preparing for the leap from the overcrowded apartment to the “starter” home that will see their first child into high school. There’s a lot of activity taking place as we move towards the fall season. The housing market continues to be active as well.

In the Twin Cities region, for the week ending August 11:
• New Listings increased 2.0% to 1,387
• Pending Sales increased 31.2% to 1,149
• Inventory decreased 29.6% to 16,982

For the month of July:
• Median Sales Price increased 13.7% to $179,000
• Days on Market decreased 27.8% to 106
• Percent of Original List Price Received increased 3.6% to 95.0%
• Months Supply of Inventory decreased 42.8% to 4.3

Statistics provided by the Minneapolis Area Association of Realtors

For additional market information, contact us:

Ellen Walsh
612.220.3304
emwalsh@cbburnet.com

Kate Walsh
612.220.3309
info@designhouse9.com

Coldwell Banker Burnet
Minneapolis Lakes Office–On the shore of Lake Calhoun
Minneapolis MN 55416

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A Feng Shui Perspective

A friend recently sent me a post about Whitney Houston’s home in New Jersey being for sale. I looked at the photos and had my usual REALTOR® curiosity about the house. I loved this stained-glass wall that appears to separate the foyer from the living room. The color and “movement” of the design reminds me of music–quite appropriate for the amazing musical talent that Whitney was.

Here’s a photo of what appears to be the living room, complete with circular skylight (wow!) and a curving wall of windows. Note also the clerestory to the right along the upper wall. The natural light in this space must be splendid.

The property reportedly has just over five acres of land. Here’s a view of the grounds. There are many trees, offering both beauty and tranquility. No doubt Whitney enjoyed many wonderful moments at this home and in her life despite her struggles.

Her modern home is said to be quite different from the other homes in Mendham Township. Most of the homes there are reportedly classic estates, historical homes, and farmhouses. As a REALTOR®,  I’ve seen modern homes sell very quickly when they are done exceptionally well or designed by a well-known architect such as Ralph Rapson. If they aren’t stunning, they can linger on the market due to feeling cold, having odd floor plans, having awkward and/or poorly proportioned rooms, etc.

I located some aerial photos of the property. There is a large pool, a tennis court, and a walking path. Here’s a link to a photo of the pool with her initials set in the bottom:

Photo of Whitney Houston’s Pool at her New Jersey estate

Unfortunately, the design has a helter-skelter aspect; It does not have the natural flow and orderliness of a rectangular or square house that would be beneficial. From a Feng Shui perspective, this home has a number of challenges due to what is known as “missing areas”. These “missing areas” symbolize missing areas of the bagua (a map placed over a floor plan and used in Feng Shui consultations), thus weakening these areas of life for the occupants. Anyone living in this home would benefit from making Feng Shui adjustments to either energetically or physically “fill in” the missing pieces.

The layout of this house may well explain Whitney’s addiction issues and subsequent problems with finances, relationships, and the decline of her magnificent singing voice which could no longer produce the perfect pitch and beautiful tonality it once did.

As I continued looking at the home from various angles, I noticed the heart-shaped portion of the house. It would be interesting to know what part of the house this occupies. The kitchen (often referred to as the heart of the home)? The main bedroom? No matter. From all I’ve read and seen, Whitney had a heart as big as her voice.

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This home is not currently listed on the MLS. Find more information here:

CarProperty.com

Here’s an article about a homeowner who hired Ralph Rapson to renovate her home in the Rolling Green neighborhood of Edina, Minnesota:

One Rapson Rhapsody

RapsonArchitects.com

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Real Estate for Sale
Mac-Groveland Neighborhood of Saint Paul, MN

Sunny Spaces Inside
Beautiful Gardens Outside
List price: $144,900
Sale price: $139,300

This property is sold and no longer available for showings.

Detailed wrought iron fencing provides picturesque structure to yard.

Living room with wood floor and crown molding.

Sun room with windows on three sides. Use as an office, guest bedroom, or den.

Formal dining room with two windows, wood floor, and crown molding.

Kitchen has granite counter tops and checkerboard flooring.

Exposed brick in one corner of the kitchen.

Informal dining space in the kitchen. Note the two windows!

Large bedroom accommodates an upholstered chair. Note the three windows.

Very nice walk-in closet with organizers in main bedroom!

Stained and leaded-glass architectural detailing in bath.

Upper level space is currently used as an art studio.

The front yard has perennials and raised beds for annuals.

Close to the river and the walking/biking paths!

Map of area–click to enlarge

This one-bedroom plus den home is a “not so big house” in terms of size but has plenty of style and charm! It’s located just a block from Grand Avenue and is within close proximity to three private colleges/universities. Other features include a screened porch, main floor laundry, a single garage, and central air conditioning.

Walk Score = 85 / Very Walkable

Read about the Macalester-Groveland neighborhood.

For additional information and to arrange a showing, call, text or email:

Ellen Walsh
612.220.3304
emwalsh@cbburnet.com

Kate Walsh
612.220.3309
info@designhouse9.com

Coldwell Banker Burnet
Minneapolis MN 55416

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Barbara Corcoran discusses how to stage a home.

Barbara Corcoran is the real estate contributor to NBC’s Today Show. She operated a multi-billion dollar real estate business in New York City for many years. This video was made in 2007 and much of what she says is still valid today in our current marketplace.

Staging Tips Summary:

  • The first impression of your home is from the curb. Spruce up your exterior: landscaping, doors, mailbox, hardware, paint, etc. Use three colors for the exterior of your home: one color for the walls, a second color for the trim and a third color for your front door. This provides depth and interest to the exterior.
  • Buyers form an impression upon entering the home. What do they see? Too much stuff or just enough? Or perhaps too little stuff that leaves the room feeling cold and uninviting? I’ve had buyers look at the living room and kitchen and decide they don’t need to see the rest of the house.
  • People respond positively to natural light. Open or remove curtains, trim hedges, use light paint colors on walls if need be. Light sells homes. During fall and winter when it gets dark earlier, make sure you use the brightest possible wattage in your fixtures and that all the bulbs work. Use multiple light sources if possible, especially in bedrooms (ceiling fixtures and lamps).
  • The kitchen is the most important room in a house. Barbara says there’s no reason to make major improvements because you’ll never get the money back. I think this depends on the house, the kitchen and other factors such as desirability of neighborhood and how the rest of the house stacks up. Clearing counters of too much stuff works here just as it does throughout the rest of the house. A fresh coat of paint on the cabinets might be a good thing depending on your cabinets and the condition of the rest of your kitchen.
  • The bathroom can be the second most important room. Both the kitchen and bath tend to be big expense items when it comes to remodeling. A clean and uncluttered bath is, in most cases, all that is needed for selling.
  • Bedrooms should look peaceful and clean. New bedding might be in order to freshen the space. This can be an inexpensive update and you can take the bedding to your new place.
  • Yes, buyers look in your linen closet. A clean and organized linen closet goes a long way. It’s worth the time spent on it.
  • Barbara says to stop smoking. This might be something a smoker can do (smoke outdoors) but if the smoke has permeated the walls and furnishings, more will need to be done. Most sellers aren’t likely to remove pets. The best bet is to keep your house clean and to open the windows (weather permitting). I personally do not care for air fresheners and potpourri. These create an artificial smell and make me wonder what smell the owner is trying to mask. A clean house is best and does not smell. When it comes to air quality, no odor is best.
  • The arrangement of your furniture can make your spaces more or less appealing. This is best addressed on a house by house basis rather than here in this post. I work with my sellers to create inviting rooms using the furnishings they already have. This works most of the time.
  • When in doubt, think these three things for your home: Neutral, clean, and classic.

Do you have more questions about staging or preparing your home for the market? Feel free to give me a call for a consultation.

Kate Walsh
Lakes Area Realty
612.220.3309
info@designhouse9.com

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3900 Auburn Drive

Breathtaking Panorama

Aerial View - Click photo to see it larger

Watch the video slide show here.

List Price: $750,000

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The Details:

  • Four bedrooms and four baths.
  • Set on a 1-acre lot that juts out into Huntingdon Pond.
  • Completely and beautifully renovated by Warren Home Restorations.
  • Wonderful entertaining spaces both inside and outside.
  • Expansive windows throughout to take advantage of the views.
  • Gourmet kitchen with granite, stainless, and custom cabinets.
  • First-floor master suite with fireplace.
  • Master bath features whirlpool tub and separate steam shower.
  • Climate-controlled wine cellar/tasting room with artistic finishes.
  • Exercise room in lower level.
  • Water filter/ionization system for the whole house.
  • Built-in speakers in almost every room.
  • Two-car attached garage.
  • Finished Square Feet: 4,364
  • 2010 Taxes: $8,635
  • School District: Hopkins

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For more information and/or to arrange a showing, contact:

Kate Walsh, REALTOR
Lakes Area Realty
612.220.3309
info@designhouse9.com

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Minnetonka Historical Society

City of Minnetonka Website

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Listing provided courtesy of Coldwell Banker Burnet.

Information deemed reliable but not guaranteed.
Lasted updated on September 17, 2010 at 21:29pm.

The data relating to real estate for sale on this site comes in part from the Broker Reciprocity program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Lakes Area Realty are marked with the Broker Reciprocity logo or the Broker Reciprocity house icon and detailed information about them includes the names of the listing brokers. DesignHouse9 is not a Multiple Listing Service MLS, nor does it offer MLS access. This website is a service of DesignHouse9 and Lakes Area Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.

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39 Greenway Gables

This property is sold and is no longer available.

Minneapolis, Minnesota
Loring Park Neighborhood

Click on any photo to see it larger.

Living Room

Formal Dining Room

Kitchen and Breakfast Bar

Family Room off Kitchen

Built In Desk in Family Room

Plenty of cabinets and counter space in the pantry area of the kitchen.

Nice Floor Plan for Entertaining

Staircase to Upper and Lower Levels

Master Bedroom with En Suite Bath

Master Bath

Second Floor Bath and Laundry

This unit also has a main floor half bath.

Large Lower Level Family Room

Bar Area off Family Room

All this greenery in a downtown location!

Landscaped Patio Area

Fountain with Plantings Outside Your Front Door

The Details:

  • Three bedrooms and two and a half baths
  • Completely renovated
  • Flowing floor plan and large spaces
  • Cook’s kitchen with stainless, marble and travertine
  • Formal and informal dining
  • Fireplace
  • Hardwood floors
  • Master suite
  • Second floor laundry
  • Deck and patio
  • Double attached garage
  • Central air conditioning
  • Centrally located by Loring Park on the edge of downtown Minneapolis
  • Finished square feet: Approximately 2,490
  • Year Built: 1979
  • List Price: $575,000

Association amenities includes this heated pool.

Berger Fountain, also known as the Dandelion Fountain, at Loring Park

This property is owned by a friend of mine who is a licensed agent.
Information is deemed reliable but not guaranteed.

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Information about the Loring Park Neighborhood

Information about Loring Park

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