What's the Real Estate Buzz in Owatonna Minnesota?

 Summer is heating up and so is our real estate market.  We've seen good activity with showings, buyers and offers. 

 We're still noticing a strong presence of first time home buyers, along with buyers relocating into Owatonna for their jobs.  According to my lending expert Kriss Meier of Countrywide Mortgage (through Profinium Bank in Owatonna) she is taking applications from those two buyer niches, although it seems that 1 out of 4 mortgage applicants have some credit issues.  Property issues are becoming more of a challenge with the increase in foreclosed properties, many of which have deferred maintenance issues to contend with.  If you have any financing questions you can contact Kriss at 507-446-4289.  Her expertise will get you moving in the right direction.

 According to the Southeast Minnesota Association of Realtors MLS our year to date activity is showing 146 closed residential listings in Owatonna..  The average sale price of sold properties is $163,202 which is down from 2007 when the average sale price at this time was $174,422.  I believe this trend is due to an increase in bank owned properties and the influx of first time buyers.  Our average market time is 146 days which is actually down about 30 days from 174 from April of this year.   

 We have 216 active residential listings which has been pretty steady this year.  We hit over 300 listings before the end of 2007, so it's nice to see that number come down.  We have 255 active building lots on the market, with 9 lots sold year-to-date.  That number is way down from previous years and builders have drastically slowed their new starts.

 Market cycles affecting housing come and go, just like all segments of the economy.  Right now may seem like a challenging market, but it's also a market of opportunity.  Investors and first time home buyers will be the obvious winners, but existing homeowners can profit, too.  If you're looking to move up into a larger home - it's a great time to make that move.  The inventory and prices of move up homes have never been more plentiful and attractive.  Call or e-mail me today to learn about how this market can be beneficial for you.  It's time to get moving.

1051 10th Avenue NE, Owatonna, MN 55060

Lynn Johnson | Coldwell Banker Home Connection | 507-451-8080 1051 10th Avenue NE, Owatonna, MN Delightfully charming 4 bedroom 2 bath Cape Cod with hardwood floors, deck, permanent siding & much more 4BR/2BA Single Family House offered at $154,900 Year Built 1962 Sq Footage 2,240 Bedrooms 4 Bathrooms 2 full, 0 partial Floors 3 Parking 2 Car garage Lot Size 10,164 sqft HOA/Maint $0 per month DESCRIPTION Charming, attractive and extremely neat and clean, this 4 bedroom, 2 bath Cape Cod offers character and quality with hardwood floors, updated kitchen with tile floor and backsplash, roomy family room, newer windows, spacious yard, terrific deck all at an affordable price! see additional photos below PROPERTY FEATURES Central A/C Central heat Walk-in closet Hardwood floor Tile floor Family room Living room Office/Den Dining room Dishwasher Refrigerator Stove/Oven Microwave Basement Laundry area - inside Balcony, Deck, or Patio Yard COMMUNITY FEATURES Garage parking OTHER SPECIAL FEATURES Ceramic tile in kitchen Vinyl Siding Wonderful deck overlooking nice yard Attractive Decor Family room Walk out to backyard Newer Appliances Newer Windows ADDITIONAL PHOTOS Seller contact info: Lynn Johnson Coldwell Banker Home Connection 507-451-8080 For sale by agent/broker Equal Opportunity Housing Posted: Jun 16, 2008, 9:30am PDT

Signs of Spring Around Owatonna

For those of you in Minnesota, you understand the delayed Spring we've experienced with cooler temps and plenty of rain.  This is graduation weekend in Owatonna, with plenty of parties in every neighborhood as families celebrate their high school graduate's accomplishments.  The weather has been pretty unsettled, and I hope that it'll stay clear (or at least tornado-free) for the duration of the weekend.

Anyway, just to reinforce in my own mind that Spring is actually here I scouted a few areas that showed the evidence that the warmer season had, in fact, arrived.  I love the flowering trees that show that sure sign of the change of seasons.  The air is filled with such fragrance when I'm out on my walks or bike rides.  I also have 2 lilac trees right outside my front door and I'll stand there from time to time just soaking in that sweet smell.

I don't know if I'd appreciate the offerings of Spring as much if I hadn't so eagerly anticipated its arrival after the long dreary winter that is also a part of our Minnesota climate.  I enjoy all that each season has to offer - but summer is definitely my favorite - give me 85 degrees, blue skies, time on the lake and I'm all set. 

Which season do you enjoy the most?

Every Neighborhood Has A Story

If any of you are like me, you'll find yourself thinking and talking about houses as you walk/ride or drive past them with your friends and family.  If you've been in the real estate business for for than a few years you've, by now, probably gotten to know hundreds of homes in your area.

As I'm walking or driving through a neighborhood I'll remember specific things about the houses I've been in, written an offer on, sold, and listed.  I think about things like "that's the house where a young plumber removed the asbestos without any protection to the homeowner or himself".  "That's the house I walked 4 miles in one Saturday during an open house (I use a pedometer and no lookers showed up)". 

One of my favorites was a stunning victorian home that was built for a lumber baron at the turn of the 1900's.  There was a third story ballroom, maid's quarter's, and men's smoking balcony.  The current homeowners refurbished the home to it's amazing original quality and design.  While they slaved away on their renovations they found a hatpin tucked in the door frame of the back stairway (from the maid's room).  It must have been used by the maid as protection.  They also found the names (etched in wood) of all the children who had grown up in the home when their 2 boys found a hidden alcove under the stairway landing.  Our town doesn't have many homes that share such grandeur and rich history so it was fun to hear about the past of that incredible home.

There are a few homes that I've had listed that owners say "may have ghosts" and have shared a some stories that made me a believer.  In many cases I remember faults found at inspections, botched seller do-it-yourself projects, family pets, friendly neighbors and work orders required by the lenders. 

But, there are certain things I'll never forget, like the families and people I've met while showing homes, writing offers and helping buyers and sellers reach their dream of home ownership.  We experience so many emotions with our clients - the highs that come with accepted offers, and the lows that come with missing out on a house because their home hasn't sold yet, and everything in between.  Since our market time has increased over the last couple of years I've been around to watch many life changes with my clients - a toddler's first steps, graduation preparations, wedding plans, babies coming into the world - all of those exciting milestones - and so many of those take place in the home I helped them buy.  Wow, the memories that live in every home and every neighborhood - they all tell a story and I love being a part of it.

Rice Lake State Park, Owatonna Minnesota

We are so fortunate to have a State Park about 7 miles from our backyard.  Yesterday a friend and I biked about 26 miles out and about in our rural landscape.  On our journey we rode to Rice Lake State Park which is a wonderful spot to visit for a weekend or a day.  There are 42 camping sites at the park, with 3 of them accessible only by canoe. 

According to the Minnesota Department of Natural Resources State Park  website - American Indians harvested wild rice from this lake where today, the shallow waters and marshy edges of Rice Lake attract many waterfowl during migrations. Rice Lake is a major wetland in the area. Visitors enjoy camping under the tall hardwoods, photographing spring wildflowers, picnicking, and birdwatching. For a more secluded camping experience, paddle across the lake and camp in a canoe campsite. Winter activities include cross-country skiing and snowmobiling on the trails.

I loved riding through the dense growth of trees down the trail to the lake.  We stopped for awhile and refreshed our legs, and we thoroughly enjoyed the abundant beauty of the natural setting around us.  The plentiful birds were reminding us of their presence and we appreciated all that Rice Lake visually had to offer.

I'd strongly encourage a trip to Rice Lake State Park - just 7 miles east of Owatonna.  Stay for an afternoon picnic or a few nights.  You'll be able to canoe, hike, take in the wildlife, and enjoy the peace and quiet that come from spending time outdoors.

You can make reservations on-line - it's so easy.  I can smell the campfire already.

Real Estate Market Update for Owatonna Minnesota

Owatonna, MN Real Estate Market Update

We currently have 211 homes on the market in Owatonna, MN.  The average list price for those homes is $192,346 and they have been on the market for an average length of 151 days.  Year to date 99 homes have sold and those have an average sale price of $157,849 and have taken an average of 142 days to sell.   The average list to sold price ratio is 97.4% which includes any concessions built into the price (like buyer's closing costs).  Houses on average are seeing a 5% drop in their original list price to the final list price before they sell.  There are currently 125 homes pending sale - meaning that sellers and buyers have agreed upon contracts and contingencies have been removed.

We've seen an increase in buyer activity and I've recently seen competing offers on several properties (just like the old days). 

Interest rates are down from this time last year.  We have a terrific selection of homes.  Employment remains steady and the economic outlook for Owatonna and our region looks very positive.  We're so fortunate to have a variety of employers who cross into diverse industries.

Summer is around the corner and we're seeing the trees and allergies in full bloom.  Now we just need a little more warm weather - I'm sure it's on its way.  It's great to be able to enjoy four distinct seasons, with plenty to do year round. 

Relaxation - Where Do You Go?

It's been a hectic weekend.  I'm finally taking a moment to relax on my deck with my laptop perched on my lap and my favorite beverage by my side.  I worked all day yesterday (very productive, yea) and today I was busy getting things done around the house (it never gets done but itself, does it).  My son and I drove out to our cabin on Beaver lake for dinner.  My DH has been busy out there working on some remodeling.  As many of you know, it's difficult keeping up two places - but the rewards of the lake place are too many to count.

Now for the relaxation.  Our deck is one full story above the backyard (our basement is a walkout) and it nearly disappears from view into the wooded backyard.  It's a wonderful setting and I always face my chair to the west so I can get glimpses of the sun as it sparkles through the leaves.  I love having this time just for me - listening to the music of the birds and feeling the breeze as it floats around me.

Tomorrow I pick up my oldest from college.  I've been asked to bring cleaning supplies and an empty car so I can pack her up and bring her home for the summer.  I can't believe her first year is already done.

Anyway, I love this time to all to myself, and am savoring every moment.  The summer will fly by, but I'll steal as many little snippets of time like this whenever I have the chance.  A girl, her deck, wireless internet, a picture perfect evening and a cold drink at her side - what more could a busy Mom ask for!  How do you relax?

955 Brae Burn Place Owatonna, MN Quality Abounds!

Lynn Johnson | Coldwell Banker Home Connection | 507-451-8080 955 Brae Burn Place, Owatonna, MN Quality abounds in this spacious rambler. Formal dining, hardwood floors, family room with fireplace and a walkout to the nicely landscaped yard with 3BR/2BA Single Family House offered at $275,000 Year Built 1997 Sq Footage 3,868 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 2 Parking 3 Car garage Lot Size .39 acres HOA/Maint $0 per month DESCRIPTION Attractive and well maintained home with room for everyone. You'll appreciate the attention to detail that's evident throughout. This well designed plan that will make you feel right at home. The nicely landscaped yard can be enjoyed from the patio or while you're lounging in the above ground pool. see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Walk-in closet Hardwood floor Tile floor Family room Living room Bonus/Rec room Dining room Dishwasher Refrigerator Stove/Oven Microwave Basement Laundry area - inside Balcony, Deck, or Patio Yard Swimming pool Jacuzzi/Whirlpool OTHER SPECIAL FEATURES Formal dining Hardwood Floors Family room Fireplace Eat in kitchen Roomy master bath Plentiful storage Rec room walk in pantry Above ground pool with privacy fence and deck ADDITIONAL PHOTOS Seller contact info: Lynn Johnson Coldwell Banker Home Connection 507-451-8080 For sale by agent/broker Equal Opportunity Housing Posted: May 20, 2008, 9:03am PDT

Princess Owatonna is Back After a Long Winter Break!

She's back!  I'm referring to the statue of Princess Owatonna that graces our Mineral Springs Park.  She is displayed throughout the spring, summer and fall seasons, but apparently she goes somewhere warmer during the winter (lucky girl). 

The legend of Princess Owatonna is quite special and I always enjoy sharing the story with newcomers to our community.  Legend has it that Chief Wabena heard of the healing power of the waters called minnewaucan. His daughter, Princess Owatonna, was sickly so he moved his tribe to the site of the natural springs on the banks of Maple Creek. Princess Owatonna drank from the springs daily and regained her health. Her kindly spirit hovers near the bubbling waters and beckons weary travelers to pause in the beautiful valley and drink of the magic waters.

Although this makes a colorful campfire story, the name most likely originated from the major river running through Steele County, now named the Straight River. For hundreds of years before the arrival of the first white settlers, Native Americans camped on the banks of the river they called "Ouitunya", which means straight.

So, either way, we take our city's name from the Native Americans who first settled in our rich agricultural community.

Mineral Springs Park is a favorite for families, wedding parties and prom goers to use the lush wooded backdrop alongside the river to take those special photos.  There's also a picnic area, playground equipment, horseshoe pits, walking paths, and an adjacent disc golf park to ensure fun for all ages.

Owatonna - it's a great place to live, work and play.

I Went To Google And Saw It With My Own Two Eyes!

Okay, okay, okay - I believe!  I was out and about this morning adding some new stuff to my website and lo and behold I did a search of Owatonna Real Estate on Google, and what did I find?  I found my website at the top of page 2!  Okay, so it's not page 1 yet, but it will be.

I truly believe that the things I've learned from the many generous professionals here on Active Rain made all the difference.  The changes that I've made to the content of my site resulted in moving from the vast Google depths (i.e. somewhere past page 5) to the top of page 2.

As if we needed any other proof as to the strength and power of participation on Active Rain, my blogs have always ranked higher than my website (until now).  The point is, they're being seen, read and I'm sure memorized by the masses of Owatonna real estate junkies.

Thanks to all of you who have provided such quality content for all of us to learn and benefit from.  I'm not a "techie" person, but have become increasingly comfortable with finding my way around previously unexplored areas of the mysterious web. Thanks!