Lakeshore views

Pelican Rapids Home & Garden Show

Joe Johnson (Coldwell Banker Preferred Partners) — Thu, 23 Apr 2009 11:14:53 -0500

The Pelican Rapids Chamber of Commerce presents the Home & Garden show on April 25th from 9:00 to 2:00. The show is being held in the PR High School Gymnasium.

Admission is only $1 and proceeds go to future Chamber events.

Local businesses will be on hand at the show for helping you get your home and garden ready for the summer. There will be games for the kids, food available, seminars, and a silent auction.

Be sure to stop in and check it out. With over 50 different booths at the show there is sure to be something for everyone.

Lake Home Market Report for Ottertail & Becker Counties

Joe Johnson (Coldwell Banker Preferred Partners) — Thu, 16 Apr 2009 13:00:11 -0500

Sales figures for Lakeshore Residential Properties Feb & Mar 2009:

	Detroit Lakes MLS information		Fergus Falls MLS information
	Feb 09	March 09	Feb 09	March 09
Closed Sales	6	8	1	4
New Listings Added	47	52	19	36
Pending Sales	4	3	6	2
Active Listings	341	385	267	290
Median Sold Price	$215,000	$190,000	$235,000	$299,000
Average Sold Price	$223,083	$278,062	$235,000	$289750

Analyzing sales numbers for lake properties is always difficult in the winter months. The seasonal dips are dramatic and the low numbers make reading a trend almost impossible. Unfortunately, my magic crystal ball is also in the shop this week, so I have no predictions for this summer.

One important fact to note as we go into the spring season is that the number of lake homes currently on the market remains high. Last summer, the monthly sales for the Detroit Lakes area MLS bounced around that 20-30 homes/month range. The Fergus Falls area saw 15-20 homes/month sold. Even at those sales rates we have a high inventory of lake homes.

This high level of inventory creates some great opportunities for buyers looking to find the perfect lake home this summer.

“But according to the News, the prices are falling!!! Why buy now???”

True, in many parts of the country they are seeing falling prices. This is not to say lakeshore prices in Ottertail and Becker counties are also dropping. Just to check the local market I compared year-end sales averages for the last few years.

	Detroit Lakes Area		Fergus Falls Area
Year	Average sale price	% change	Average sale price	% change
2004	$252,638	22.9%	$255,880	N/A
2005	$260,014	2.9%	$244,785	8.4%
2006	$292,493	12.5%	$290,853	18.8%
2007	$307,141	5.0%	$254,440	(-12.5%)
2008	$343,255	11.8%	$276,966	8.9%

I’ll admit these numbers surprised me a little. I expected the average sales price to be flatter over the last 2-3 years. In reality this is what we are seeing in most situations, no major price moves. Averages can be tricky with less homes being sold. One or two homes selling for over $500K can have a bigger effect on the average and skew the numbers higher. I suspect that has something to do with the recent price gains.

However, it is good to see lakeshore properties in this area are at least holding their value.

Classic Pelican Rapids Home

Joe Johnson (Coldwell Banker Preferred Partners) — Tue, 24 Feb 2009 09:00:40 -0600

301 2nd Ave SE
MLS # 27-11019

List Price: $107,500

Classic wood flooring in home adds charm and warmth throughout the three finished level.

1st level: Kitchen, Bath Dining, Living room w/ fireplace, & 3 season porch.

2nd Level: 3 Bedrooms, Full Bath, & Kitchennette (or laundry) with walk out to rooftop deck.

3rd Level: 2 additional rooms for home office, den, living, or additional bedrooms.

Wood floors on all above ground levels. Full basement.

Large corner lot with double car detached garage.

For more details & pictures call or email:

Joe Johnson
Coldwell Banker Preferred Partners
Joe@LakesAreaHome.com
(218) 863-8723

Mecury levels rise in MN fish

Joe Johnson (Coldwell Banker Preferred Partners) — Thu, 19 Feb 2009 12:13:53 -0600

This week the Minnesota Pollution Control Agency (MPCA) reported that there has been an unexpected rise in the mercury levels in northern pike & walleye fish caught in Minnesota. (article on NorthlandOutdoors.com)

The sample fish were collected from 845 lakes across Minnesota, and the statewide trend indicates more than just a local source of contamination. Local mercury contamination was on the decrease up until the mid 1990's. Since the mid 1990's the trend has reversed, due possibly to the increased use of coal fired plants in Asia.

Fishing has been, and continues to be a favorite pass time in Minnesota. The new findings raise concern, but the MN Dept of Health has not adjusted it's recommendations for safe consumption of fish. (how much can I eat?).

Although the recent mercury increases may be from global sources, local efforts in protecting lake water quality have a big effect. The use of lakeshore buffer zones can help reduce contamination from rainwater run-off.

Minnesota lake property owners will be hearing more in the years to come about buffer zones and the use of rain gardens to reduce run-off as the MN DNR looks for ways to keep our lakes clean. (more on shoreland management)

Quiet location, Rural Erhard.

Joe Johnson (Coldwell Banker Preferred Partners) — Tue, 10 Feb 2009 19:42:31 -0600

This rural Erhard home is available for $75,000. The home is in need of some finishing touches, but offers a private, end of the road location surrounded by wildllife.

Bedrooms: 4 (3 on main, Master Up)

Baths: 1 (+ master bath is roughed in w/no fixtures)

Size: 1450 sqft

Lot: 2.22 Ac

Forced air, propane furnace.

Outbuilding: 30 x 40 pole bldg

Well & Septic

For details call:

Joe Johnson
Coldwell Banker Preferred Partners
(218) 863-8723

Maplewood State Park Candlelight Ski: Feb 21st

Joe Johnson (Coldwell Banker Preferred Partners) — Tue, 10 Feb 2009 19:25:15 -0600

Maplewood State Park just west of Pelican Rapidson Hwy 108 is hosting it's candlelight cross country ski event Feburary 21st from 6:00 to 8:00PM.

A one mile trail around Cataract Lake will be lit with 150 candles for the event. Chili, snacks, and hot beverages will be available at the Trail Center starting at 5:00.

Not into skiing? There shoud be some great conversation around the campfire. Either way, it should be a great evening.

Maplewood grooms about 8 miles of cross country ski trails through the winter months, (depending on snow). Park passes and Ski passes are required in the Park. Call the Park office for details (218) 863-8383.

A little free time for some ice fishing.

Joe Johnson (Coldwell Banker Preferred Partners) — Mon, 19 Jan 2009 12:41:59 -0600

January is usually a slow month for real estate. This year even more so. Blame it on the weather, the economy, or your least favorite politician. The fact is, not many people want to look at houses in northern Minnesota during January.

So.... What to do with this extra time?

Well, fish of course.

This past weekend felt like a mini heat wave with temps above zero for the first time in about 2 weeks. It was a great time to get out on the ice and try a little ice fishing on Lake Lida.

Driving out on the ice is getting to be a challenge with all the snow we've had. Roads have been plowed, and venturing off the plowed roads is almost impossible without a snowmobile. The heavy snow has also made flooding more of a problem, but any day fishing is worth a little extra effort. I was only stuck once during the day with my ATV, which is pretty good for me.

We were able to find the fish. Getting them to bite was another story. The camera showed plenty of sunfish and northerns lurking in the weeds. There was even an occasional walleye that swam past. All of which must have been full from feeding on the small perch that were absolutely everywhere.

Even with the slow bite, getting outside was well worth it. Cabin fever starts to set in after being forced inside by several days of subzero temps. A little fresh air cures all.

Oh, and just in case the real estate market suddenly picks back up. My cell phone is never far away. I keep it right next to the bait so there is less chance of me dropping it down the hole.
(Yeah, it happens...)

One tough bird.

Joe Johnson (Coldwell Banker Preferred Partners) — Thu, 15 Jan 2009 11:46:57 -0600

Most Pelicans fly to warmer locations for the winter.

Not Pete.

Crisp morning temp of -30°F too cold? Ha! Not too cold for Pete.

Standing vigilant along the dam, watching over the city. This piece of the Pelican River is all his.

Total sales slide for Lake Shore

Joe Johnson (Coldwell Banker Preferred Partners) — Tue, 13 Jan 2009 20:30:04 -0600

While doing a market analysis-price opinion on a home, I dug up some of the following data on Lakeshore Residential properties in Otter Tail and Becker counties, MN:

Detroit Lakes MLS total closed sales (Apr-Dec)
2006     217
2007     188
2008     176

Fergus Falls MLS total closed sales (Apr-Dec)
2006     147
2007     140
2008     124

Lake home sales have definitely slacked off over the last two years. Another factor in the market slow down is the significant increase in properties listed for sale. In just the last year, the monthly average for active listings has increased by 25%!

Homes are still selling, although it takes longer (140+ days), and the pricing needs to be competitive.

For Buyers, the opportunities are terrific for finding a great lake home.

(note: Data was only used from April - December for each year. Why? Cuz, I didn't have Jan-Mar for '06 available and I wanted to compare similar time periods. The sales of lake homes in Jan-Mar is historically very slow and most likely will have little or no effect on the overall trends shown above.)

Excess supply continues in MN Lakeshore Property

Joe Johnson (Coldwell Banker Preferred Partners) — Fri, 14 Nov 2008 11:59:10 -0600

Lakeshore sales in the Ottertail and Becker county region remain flat thrugh 2008. As the summer selling season comes to a close, the total number of closed sales for lake shore homes shows a similar pattern to that of 2007. Although still down from the peaks of ‘05 & ‘06, we are fortunate that we have not seen the major market crash as seen in other portions of the country.

The real change in the current market is the increase of properties listed ‘For Sale'. A significant addition of lake homes on the market has created a buyers market for lakeshore property across the region.

Buyers looking for a lake home have a vast supply of homes to choose from, and with a little patience can find their dream lakeshore property.

Sellers of lake property need to consider the extra competition out there. Properties must be priced right to draw the attention of today's buyers. Over priced or poorly maintained properties can sit on the market for months without an offer to purchase.

For more information on buying or selling real estate in the Minnesota Lakes Area, give Joe a call.

Joe Johnson
Coldwell Banker Preferred Partners
Pelican Rapids, MN
Joe@LakesAreaHome.com
(218) 863-8723

Lake Homes Market Report for MN, Ottertail & Becker Counties

Joe Johnson (Coldwell Banker Preferred Partners) — Thu, 11 Sep 2008 14:28:45 -0500

How is the market for Lake Homes in the Ottertail and Becker Lakes area?

Let's take a look at some of the numbers from the area Multiple Listing Services....
[Side Note: I belong to the the Detroit Lakes area MLS as well as the Fergus Falls area MLS. Combined they give a very good picture of what is happening over the entire Minnesota, Ottertail and Becker county Lakes Area.]

In general, Lakeshore properties are taking much longer to sell, and Buyers have more choices than ever before.

Without getting too detailed into the specifics, the chart shows two trends.

Lake homes sell better during the summer months... (Not many people are thinking about fun at the lake when it's -20 ouside.)
Sales have dropped slightly over the last 2+ years, but have remained fairly steady.

While this is certainly not as bad as other areas of the country, the average loss of sales does make it harder to sell a lake home in this market.
What other factors are at work in the area?
One major change in the number of homes that are currently on the market:

The upper lines show the number of active listings each month over the last 2 years for the Detroit Lakes area. The lower lines are for the Fergus Falls area. There are, on average, several hundred more lake homes for sale than 2 years ago.

Fewer sales + More Competition = Buyers Market

Another way of looking at the above information is this: There are approximately 800+ lake homes in the area currently on the market. Approximately 35 will sell next month...

35 Buyers will have taken advantage of this great opportunity to purchase a Lake Home!

Joe Johnson
Coldwell Banker Preferred Partners
(218) 863-8723
www.LakesAreaHome.com

Leek/Trowbridge Lake Cabin

Joe Johnson (Coldwell Banker Preferred Partners) — Wed, 10 Sep 2008 13:51:01 -0500

Trowbridge-Leek Lake Cabin, Vergas MN
$214,900
MLS # 27-10726

All new construction in 2004. Suitable for year round use. Western exposure and terrific views of the lake.

2 Bed / 1 Bath
Open floor plan
880 sqft of living space
Large windows lake-side
Lot size 100x132
100' lake frontage
Hard bottom lakeshore
In-floor radiant heat

Trowbridge/Leek lakes offer good fishing and recreation.
See lake details at http://www.dnr.state.mn.us/lakefind/showreport.html?downum=56053200

Listing offered by:

Joe Johnson
Coldwell Banker Preferred Partners
(218) 863-8723
(877) 234-1933
www.LakesAreaHome.com

Lake Lida's Inlet Beach

Joe Johnson (Coldwell Banker Preferred Partners) — Wed, 10 Sep 2008 12:03:16 -0500

Inlet Beach, Lake Lida, Pelican Rapids.

$395,000 [MLS# 27-10983]

3 Bed / 2 Bath

Updated year-round cabin that still has the "cabin" charm. 75' of sand beach frontage facing west for those amazing sunsets over the lake.

Double detached garage (29x24) for storage.

Propane forced air furnace. 4" well, septic tank with drainfield.

Family Room with gas fireplace
Lake-side living room
Clean & functional kitchen
10 x 20 deck on lake-side
2 spacious bedrooms upstairs
Upper level bath contains hook ups for laundry
Landscaped 75x160 lot

Listing offered by:
Joe Johnson
Coldwell Banker Preferred Partners
www.LakesAreaHome.com
(218) 863-8723
(877)234-1933 - Toll Free