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Market Conditions in Mahtomedi, MN - 06/11/07 03:10 PM
The MAR 100 was reported today, and here's what it shows for the Mahtomedi, MN. marketplace through May of 2007-
Mahtomedi, MN.
2006 2007 Change 2006 2007 Change
New Listings- 22 26 18.2% 81 93 14.8%
Closed Sales- 7 14 100% 34 38 11.8%
Ave. Sales Price- 335,400 329,007 -1.9% 406,171 314,009 -22.7%
Ave. Days on Mkt. b/f sale 154 146
Current Inventory is 50 Single-Family/Detached and 25 Townhome/Condos
Better numbers that those for White Bear Lake, which is down 2% for the month and up just 6% year-to-date.
If you have questions about other Twin City areas, feel free to contact me at lorenjohnson@nexus-financial.com , or go to my website at … (0 comments)
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Not to be a (home) alarmist, but... - 06/11/07 12:54 PM
did you know that home security systems may actually attract burglars? Shocking, but true.
Each year, Americans spend more than $18 Billion on professional alarm systems. Unfortunately, according to security consultant Walter Shaw, some of those systems may actually be attracting burglars. Shaw, a former burglar, contends that when thieves see a house with a security system sign on it, they know it typically means that the house actually has something of value inside...which makes it a better target for them to consider breaking into.
In addition, Shaw notes that determined thieves can actually use those security system signs to their advantage. First, … (4 comments)
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NAR Housing Forecasts-deflating numbers (?) - 06/08/07 03:52 PM
It seems that the National Association of Realtors forecasts over the past few months have actually backpedaled, based on the newest 2007 forecast released on June 6th. In January, former chief economist David Lereah came out with the predictions on the top left side of the graph below. In April, those numbers, as well as a projection forward, were revised downward by new chief economist Lawrence Yun. Wednesday, Mr. Yun again adjusted downward, as seen below (sorry...I did the best I could on a graph!)
*The January report did not make predictions for 2008.
Why does this report matter to us in the Real … (0 comments)
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Some other consumer ideas about "flipped" homes - 06/08/07 02:53 PM
In continuing my thoughts from yesterday regarding looking at a home that may be a quick "flip"- the expression "quick and dirty" might have been invented to describe some of the methods used in turning properties around for resale. Not to say that all or even most investor rehabs are shoddy, but it is something to bear in mind if you are interested in buying a home you suspect may be a flip.
This is the time for a really thorough home inspection. Pay extra if necessary to have the inspector crawl through the attic, basement, and crawl spaces. You want … (0 comments)
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Checking in on buying a "flip"- - 06/07/07 12:33 PM
You can almost spot "Flips" from the listing sheet. They tend to be among the smaller homes in an area and the listing sheet highlights "new carpeting, new appliances, and/or fresh paint". Sometimes a major selling point is that a buyer can "rent to own." And the houses are almost always vacant.
These tend to be telletale signs of an investor owned home that was bought with the idea of doing a quick fix up before reselling or "flipping" the property.
Some investors buy a house and rent it out in its original condition for a year or two before doing a rehab, … (3 comments)
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Loren Johnson, CMPS
White Bear Lake,
MN
More about me…
Waterstone Mortgage
Address: 659 Bielenberg Dr. #200, Woodbury, MN, 55125
Office Phone: (651) 226-4363
Cell Phone: (651) 226-4363
Email Me
Thoughts about Mortgages, the Real Estate market, how customers should be treated, and mabye sports!
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