Say Hello To My Little "Woolly" Friend - 02/28/12 06:18 PM
Hiking on the Blue Hill Trail in the Sherburne County Wildlife refuge yesterday, I ran across this little "Woolly Bear" Caterpillar in the middle of the trail. My first thought was maybe it was dead, but after a little poke it surprised me and moved (it didn't jump up-thank god). Even Samson came over a gave it a little whiff, but he had more important things on his mind, like where's that big "Wizard" he took a leak on the other day.
The weather has been a little screwy around here this winter, but this is crazy. Come on, it's the … (11 comments)

When Should Appraisers Use Distressed Properties For Comparable Sales - 02/27/12 05:01 PM
Choosing Comparable Sales When choosing comparable sales for an appraisal, often times there is more analysis done than most realize. The use of distressed properties for an appraisal should be avoided if possible, however, if the concentration of distressed sales is so prevalent, then their use can't be avoided without creating a misleading appraisal report.
Why Distressed Sales May Be Needed The appraiser should indicate as to why distressed sales were needed within their appraisal report, which is why for every appraisal I estimate the concentration of distressed sales within the subject’s market area. 
The chart above is for cities within … (24 comments)

Market Update: Anoka, MN (Split Entry Design Homes) - 02/27/12 05:00 PM
The City of Anoka, MN  Market Update The MLS indicates that prices for the City of Anoka, MN have decreased for the month of December, as well as year to date. The MLS also indicates that prices for January (not shown) have decreased. This is for all types of properties that have sold within the City of Anoka, MN.
The data for this market update is based on the above search criteria over the past 12 months, which was for the sale of split entry/level design homes.
The homes that were selected for this trend line were all single family split … (0 comments)

Housing Statistics For Becker, MN (2005-2012) - 02/25/12 05:33 AM
The above chart indicates some of the more popular stat's for homes situated within the City of Becker, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined every year. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.

The graph indicates that there was a precipitous decline in value from … (0 comments)

Market Update: St. Louis Park, MN (Newer Construction Condo's) - 02/24/12 08:10 PM
The City of St. Louis Park, MN  Market Update The MLS indicates that prices for the City of St. Louis Park, MN have increased for the month of December, and have declined year to date. The MLS indicates that prices for January (not shown) have decreased. This is for all types of properties that have sold within the City of St. Louis Park, MN.
The data for this market update is based on the above search criteria over the past 12 months, which was for the sale of split entry/level design homes.
The homes that were selected for this trend line were … (1 comments)

Housing Statistics For Otsego, MN (2005-2011) - 02/24/12 04:51 AM
The above chart indicates some of the more popular stat's for homes situated within the City of Otsego, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.
The graph indicates that there was a precipitous decline in … (0 comments)

Market Update: Princeton, MN (Split Entry Design Homes) - 02/22/12 05:50 AM
The City of Princeton, MN  Market Update The MLS indicates that prices for the City of Princeton, MN have decreased for the month of December, as well as year to date. The MLS indicates that prices for January (not shown) have increased. This is for all types of properties that have sold within the City of Princeton,MN.
The data for this market update is based on the above search criteria over the past 12 months, which was for the sale of split entry/level design homes.
The homes that were selected for this trend line were all single family split entry/level design homes … (0 comments)

The Power Of A Featured Post - 02/21/12 06:54 AM
Let me make one thing perfectly clear, none of blog posts that I've been fortunate enough to have featured, are because I'm the second coming of Ernest Hemingway. If murdering the English language was a capital offense, I would be on death row. It took a lot of courage on my part to even start blogging, for fear of people actually finding out how bad my grammar is was (I'm an optimist). I have a strong belief that life is a "do-it-yourself-project," and I love the challenge of learning something I've struggled with most of my life.
"Live as if … (12 comments)

Housing Statistics For Big Lake, MN (2005-2011) - 02/19/12 08:56 PM
The above chart indicates some of the more popular stat's for homes situated within the City of Big Lake, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.

The graph indicates that there was a precipitous … (2 comments)

Housing Statistics For Monticello, MN (2005-2011) - 02/19/12 06:24 PM
The above chart indicates some of the more popular stat's for homes situated within the City of Monticello, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.
The graph indicates that there was a precipitous decline in … (2 comments)

Housing Statistics For Zimmerman, MN (2005-2011) - 02/19/12 04:36 AM
The above chart indicates some of the more popular stat's for homes situated within the City of Zimmerman, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.
The graph indicates that there was a precipitous decline in … (3 comments)

Market Update: Monticello, MN (Split Entry's) Stable Prices - 02/18/12 03:33 AM
The City of Monticello, MN  Market Update The MLS indicates that prices for the City of Monticello, MN have decreased for the month of December, and have decreased year to date. The MLS also indicates tthat prices for January (not shown) have decreased 15.1%. This is for all types of properties that have sold within the City of Monticello.
The data for this market update is based on the above search criteria over the past 12 months, which was for the sale of split entry/level design homes.
The homes that were selected for this trend line were all single family split entry/level … (0 comments)

A Letter of Thanks! - 02/17/12 07:24 AM
One of the great benefits of doing appraisals for divorce, tax planning and estates is the gratitude that people have when you help them. Yes, my mortgage clients are also very thankful, and appreciate the work I do for them. However, being able to actually "Help" someone is very rewarding. They've come to you with a problem hoping that you can solve it for them.
I recently was referred to a gentleman by a Realtor friend that needed help with his estate. They needed to change some things because his wife had unexpectedly passed away. He felt, and rightfully so, that … (8 comments)

New Mexico Home Styles - 02/17/12 07:24 AM
As a connoisseur of different design homes, I really found John McCormack's blog on New Mexico designs quite interesting. I've never visited this area, and have absolutely no experience appraising this type of design, but would love to see them first hand. If you have comments please visit John's post.
5 Reasons why it's an AWESOME day!
Via John McCormack- Owner/Broker REALTOR, e-PRO (Albuquerque Homes Realty * www.AlbuquerqueHomes.com):
New Mexico Home Styles
Southwest:  The New Mexico home style is very versatile for today's living. Typically offering an open plan with or without formal living or dining rooms.  The trends of today’s New Mexico … (0 comments)

Housing Statistics For St. Francis, MN (2005-2011) - 02/17/12 07:24 AM
The above chart indicates some of the more popular stat's for homes situated within the City of St. Francis, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.
The graph indicates that there was a precipitous decline … (0 comments)

Housing Statistics for Elk River, MN (2011) - 02/16/12 08:09 AM
The above chart indicates some of the more popular stat's for homes situated within the City of Elk River, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.

The graph indicates that there was a precipitous … (6 comments)

Seriously Stupid FHA Appraiser's And The Three S's - 02/14/12 06:12 AM
FHA guidelines state that a house has to meet MPR (minimum property standards) for existing houses, and MPS (minimum property requirements) for new construction. FHA is very concerned with the three S’s: Safety, Security, and Soundness.
When a Realtor was asked what the three FHA S's were, he replied, "Stupid, more stupid, and seriously stupid FHA appraisers," which I thought was pretty funny, however, a little off the mark. The three FHA S's have to do with the following:
Safety: Per FHA, "Safety refers to the health, habitability and sanitary condition of the property." When determining what is safe and what … (112 comments)

Market Update: Zimmerman, MN (Prices are Increasing for Split Entry/Level Design Homes) - 02/12/12 08:02 PM
The City of Zimmerman, MN | Market Update The MLS indicates that prices for the city of Zimmerman, MN decreased for the month of December, and also have decreased year to date. This is for all types of properties that have sold within the city of Zimmerman, MN. This is the opposite for what is happening for split entry/level design homes over the past 12 months (see below).
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family split entry/level … (1 comments)

Market Update: Blaine, MN (2 Story Design Homes) - 02/12/12 08:01 PM
The City of Blaine, MN | Market Update The MLS indicates that prices for the city of Blaine, MN increased for the month of December, and have decreased year to date. This is for all types of properties that have sold within the city of Blaine, MN.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family sales of 2 story design homes within the city Blaine, MN for the past 12 months; for the exact search criteria see the … (0 comments)

What We Have Here Is A Failure To Communicate! - 02/10/12 08:46 AM
Photo's From A Recent Appraisal Inspection Believe it or not, there are some properties that just aren't capable of going traditional financing. I was recently sent to appraise a property that I knew was going to be a challenge as soon as I pulled-up. This appraisal was for an FHA loan, and from the street (50 feet away) I could see chipping and peeling paint everywhere-not a good sign!
After a pleasant greeting, the gentleman starting to show me around inside. It didn't take long for me to realize that this property didn't have a hope and a prayer of … (10 comments)

Organic SEO is 8 Times More Effective Than PayPerClick Advertising - 02/10/12 07:30 AM
If you're going to be a blogger, then you're going to have to spend some time learning about SEO to get the most bang for your time. Tammy does a great job with her blogs in helping you understand how it works. She also did a great job with helping me with my AR signature. Thanks!
Via Tammy Emineth (Personal SEO - Website SEO and Real Estate Marketing):
 What is Organic SEO? It's your site naturally rising to the top of the search engines without paying for that coveted sponsored spot at the very top or side bar on search engines like Google, Bing … (2 comments)

Market Update: Princeton, MN (1 1/2 & 2 Story Homes) - 02/10/12 07:11 AM
The City of Princeton, MN | Market Update The MLS indicates that prices for the city of Princeton, MN decreased for the month of December, and also have decreased year to date. This is for all types of properties that have sold within the city of Princeton, MN.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family sales of 1 1/2 and 2 story design homes within the Princeton, MN for the past 12 months, for the exact search criteria … (3 comments)

Wright County, MN-The Concentration of Distressed Sales 2011 - 02/09/12 07:30 AM
Knowing how big of a role distressed sales play within a particular market is essential, this helps appraisers and Realtors make the proper market based decisions when choosing comparable sales. The analysis for this report shows what the concentration of distressed sales (bank REO's and short sales) are within the cities of Anoka County as well as the townships.
 
Summary of the Concentration of Distressed Sales: There were a couple of things that stood out for me; first, is that the number of distressed sales is fairly high, especially by historical standards. Second, the level of short sales was less … (0 comments)

Market Update:North St. Paul, MN - 02/08/12 05:48 AM
The City of North St. Paul, MN  Market Update The MLS indicates that prices for the city of North St. Paul, MN increased for the month of December, and have decreased year to date. This is for all types of properties that have sold within the city of North St. Paul, MN.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family sales of 1 1/2 and 2 story design homes within the City of North St. Paul, MN for the … (14 comments)

Market Update:Big Lake, MN (2 Story's) - 02/08/12 05:48 AM
The City of Big Lake, MN  Market Update The MLS indicates that prices for the city of Big Lake, MN were even for the month of December, and have decreased year to date. This is for all types of properties that have sold within the city of Big Lake, MN.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family home sales of 2 stories within the City of Big Lake, MN for the past 12 months, for the exact search … (0 comments)

5 Reasons Why It's An Awesome Day! - 02/05/12 08:43 AM
5 Reasons Why It's An Awesome Day!  
Another Chance at Life With each new day, you are given another chance at life, a gift if you will. Each new day is also the beginning of another days end; and by concentrating on moving forward instead of dwelling in the past, you’ll be living a successful life. If success is defined as the progressive realization of a worthy goal or ideal, then with each new day we are given the chance to move forward in life and be successful.
“Yesterday is history. Tomorrow is a mystery. Today is a gift. … (31 comments)

Yucky Ucky Ooh... You found what? - 02/05/12 08:34 AM
Here's a great list put together by Lindsey Hasford highlighting some of the things you don't want buyers to see. Please leave comments on Lindsey's blog, I'm sure she would appreciate that.
Via Lindsey Hasford (Coldwell Banker Vision):
In parody of my last blog post (which garnered a wee bit of attention) I thought it'd be a good idea to highlight some of the things that you really never want buyers to see when they come trompin' through on a showing.... because in real life it can make all the difference between a sale and no sale at all.
This list is … (0 comments)

Wright County, MN-The Median Selling Prices For All Cities 2011 - 02/05/12 08:31 AM
Knowing what the difference in the median selling prices for the different types of properties can be very helpful in understanding as to what is happening within a city and/or neighborhood.
 
Summary of the Median Selling Prices The chart below indicates the different median selling prices for bank owned (REO’s), short sales, and traditional sales within the cites of Wright County, MN. The chart clearly indicates that distressed properties sell for significantly less; and what’s even more revealing is the median selling price for REO’s compared to the other types of sales, especially traditional sales. This is also important … (2 comments)

Market Update: Roseville, MN (Ramblers) - 02/05/12 08:23 AM
The City of Roseville, MN  Market Update The MLS indicates that prices for the city of Roseville, MN were even for the month of December, and have decreased year to date. This is for all types of properties that have sold within the city of Roseville, MN.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family home sales of ramblers within the City of Roseville, MN for the past 12 months, for the exact search criteria see the map above. … (0 comments)

Market Update:Big Lake, MN (2 Story Homes) - 02/05/12 08:15 AM
The City of Big Lake, MN  Market Update The MLS indicates that prices for the city of Big Lake, MN were even for the month of December, and have decreased year to date. This is for all types of properties that have sold within the City of Big Lake.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family home sales of 2 stories within the City of Big River, MN for the past 12 months, for the exact search criteria … (0 comments)

Having No Snow Does Have Its Advantages - 02/03/12 09:28 AM

The one thing about not having any snow this winter, is that it sure makes my job a lot easier. When you compare this year with last year, there is a stark difference between the amounts of snow. In the above photo you can see that I was literally stuck in two feet of snow trying to measure a house.
… (5 comments)

Anoka County, MN-The Median Selling Prices For All Cities 2011 - 02/03/12 09:26 AM
Knowing what the difference in the median selling prices for the different types of properties can be very helpful in understanding as to what is happening within a city and/or neighborhood.
 
Summary of the Median Selling Prices The chart below indicates the different median selling prices for bank owned (REO’s), short sales, and traditional sales within the cites of Anoka County, MN. The chart clearly indicates that distressed properties sell for significantly less; and what’s even more revealing is the median selling price for REO’s compared to the other types of sales, especially traditional sales. This is also important … (0 comments)

CoreLogic's HPI Report is Now Out - 02/02/12 07:27 PM
CoreLogic has just released their 2011 HPI housing report (click here for their report). The above chart is just a sample, they have all 50 states available for review. My own state (MN) is still not doing so hot, prices are down 7.5% year over year.
What I really like about the CoreLogic's report is that they give you the data with or without distressed sales. In many markets there has been a bifurcation of sales, distressed and non-distressed, and it's important to know the difference.
… (9 comments)

Market Updated: Elk River, MN (2 Story Homes) - 02/02/12 07:27 PM
The City of Elk River, MN  Market Update The MLS indicates that prices for the City of Elk River, MN have decreased for the month of December, and has decreased year to date. This is for all types of properties that have sold within the City of Elk River.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family home sales of 2 stories within the City of Elk River, MN for the past 12 months, for the exact search criteria … (1 comments)

Top 10 Things to do To ENJOY Your Time Off - 02/01/12 10:40 AM
Here's a great list by Joni Staples on 10 things you need to do to take some hard earned time off. Please visit Joni's site to leave comments, I'm sure she would appreciate that.
Have an awesome day!
Via Joni Staples, CRS ♥ Broker Associate (936) 650-9017 (Better Homes and Gardens Real Estate - Anderson Properties):
Top 10 Things to do to Enjoy Your Time Off.

10. Recognize that just because you are enjoying time off, does not mean that you are abandoning your responsibilities.  If an emergency comes up, you can still take care of it -- or better … (0 comments)

Market Update: Osseo, MN (2011) - 02/01/12 10:40 AM
The City of Osseo, MN  Market Update The MLS indicates that prices for the City of Osseo, MN have decreased for the month of December, and have decreased year to date. This is for all types of properties that have sold within the City of Osseo.
The data for this market update is based on the above search criteria over the past 12 months.
The homes that were selected for this trend line were all single family home sales within the City of Osseo, MN for the past 12 months, for the exact search criteria see the map above. This market analysis … (1 comments)

 
Crw_4086_jfr

Michael S. Bolton-MN Appraiser

Zimmerman, MN

More about me…

Michael S. Bolton,Inc.

Office Phone: (612) 599-2581

Email Me



Links

Archives

RSS 2.0 Feed for this blog