west savage blog: Tax Credit for Existing Homeowners Now Available
- 11/18/09 11:06 AM
Regarding our earlier post on the hopeful extension of the tax credit.... The extension and modification of the tax credit was just approved and signed by the President. This is great news for first time homebuyers and existing homeowners alike. First time buyers will continue to receive the $8000 tax credit, and existing homeowners who have owned their home for at least five years are eligible to receive a $6500 tax credit if they purchase a new home. The new home must be their principal residence costing $800,000 or less - i.e. no vacation homes apply. To be eligible to receive the new tax … (1 comments)
west savage blog: West Savage Market Is Cooling...and Some Interesting Inventory Tidbits
- 11/18/09 11:02 AM
By Chad & Sara Huebener The market is cooling in West Savage, both in terms of active listings and sales. Total listings are down to just 13 - sitting at about 43% of the typical supply. This is amazingly low. 15% of these active properties are short sales or foreclosures. Fortunately this number is far below the metro market average of about 50%. Even more noteworthy, for the month of October, the most fascinating statistic lies in The Pointe neighborhood - a neighborhood of 242 homes which, for most of the month, had only one home on the market. There … (0 comments)
west savage blog: Tax Credit Might be for Existing Homeowners
- 11/04/09 05:59 AM
By Sara Huebener Some popular news is being discussed in the real estate industry these days. Chris Galler, a highly respected former colleague of mine from my days at the REALTOR Association, frequently puts out information to local REALTORS covering timely topics. Here is one that might be of interest to ALL West Savage homeowners: The First Time Homebuyer Tax Credit is set to expire on November 30 of this year. Right now, the House and the Senate are modifying the tax credit to include the following alterations. Stay posted to our blog where we will be notifying homeowners if and when … (0 comments)
west savage blog: 60 Minutes Video & Predictions on the West Savage, MN Market
- 11/04/09 05:55 AM
By Chad and Sara Huebener The following is a 60 Minutes video that is interesting. When watching the video, the initial feeling might be somewhat depressing. However, keep in mind a number of factors: 1. The video pertains to the housing market on a national level. It discusses inventory on the rise. In our pocket of West Savage, inventory has dropped steeply. As of November 2, 2009, inventory in West Savage is down 50%. 2. The video predicts another wave of foreclosures coming in 2010 and 2011. This is something we have long been discussing in communications with West Savage homeowners. … (0 comments)
west savage blog: Metrowide Housing Supply Outlook - Hot Lower Bracket May Benefit West Savage
- 11/04/09 05:48 AM
By Chad & Sara Huebener If you know of someone buying a home in the price range below $120,000 (or if you are looking in that range for investment purposes), they (or you) are going to have to move fast. The Southern Twin Cities Association of REALTORS reports there's only 2.9 months of supply in that range, which places it in the extreme seller's market category. The reason for the tight inventory picture? There's been a huge upsurge in home buying activity-sales are up 127.5 percent in that category over the last twelve months. Our Association also reports that the number of new construction properties available … (0 comments)
west savage blog: West Savage Sees Boom in Closed Sales & Cooling Inventory
- 10/21/09 01:59 AM
By Chad & Sara Huebener The pool of sellers entering the market in West Savage is beginning to cool. New listings are down, and total West Savage inventory remains well below average. Typically we see an average of 25-28 listings in our West Savage marketplace during any given month. Current listing inventory hovers around 16 - just 60% of the norm. Pending sales have also cooled in the past 45 days. Buyer activity in early September was slow with the start of school, but picked up again in mid-late September. West Savage just experienced a boost in closed sales which included … (0 comments)
west savage blog: Buying a Foreclosure Always a Unique Experience
- 09/10/09 08:09 AM
By Sara Huebener Some of the things we encounter in the real estate business never cease to amaze me. One of them is, of course, the nature of foreclosures and short sales. It just goes to show that these transactions are so unique, so independent of each other in terms of what is considered "standard", that each one is a learning experience. I have been working with a buyer who needed to buy a home (quickly) before the homebuyer tax credit expires), and so we have been feverously searching for a home in her price range in school district 719. Many are short sales, and since short … (3 comments)
west savage blog: Just Listed! Ridgewood Neighborhood of Savage, MN
- 08/24/09 07:56 AM
Just Listed in West Savage! Cute-as-a-button sun-drenched home in the Ridgewood / Boone Place neighborhood features corner cul de sac lot tucked into the hillside! Hunter Douglas window treatments throughout. Custom bath with solid doors in lower level. The basement is sheetrocked & ready for completion and instant equity. Private backyard with HUGE patio for entertaining! NEW boulder walls and landscaping. In-ground sprinklers, security system. Competitively priced at $249,700. For more details or to schedule a showing on this home, please click here. Our online flyer on this home can be viewed here.
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west savage blog: Heightened Activity in West Savage
- 08/20/09 09:16 AM
By Sara Huebener For our West Savage neighborhoods, August has marked the most notable changes of the entire year in terms of inventory and sales. These drastic changes are likely attributed to increased consumer confidence and a need to get families relocated prior to the start of a new school year. West Savage has seen a 37.5% drop in total inventory in the past month. This is a tremendous decrease in competition for sellers in our local marketplace. The steepest declines in inventory have occurred in The Pointe neighborhood, which usually sees an average of 12 active listings at any given … (0 comments)
west savage blog: Just Listed in Hamilton Hills of Savage
- 08/07/09 07:59 AM
Just Listed in Hamilton Hills! This warm and inviting home is situated in the upscale Hamilton Hills neighborhood on a quiet cul de sac. With soaring ceilings and a two-story Great Room plus loft, this home provides an amazing "sense of space". Enjoy upgrades such as hardwood and tile floors, solid doors, a fireplace and updated window treatments. The kitchen has a center island, writing desk, and corner windows. A patio door walks out to the deck. The Formal Dining Room has French doors which open to a two-story foyer. A half bath and main floor laundry also lie on the main … (0 comments)
west savage blog: Just Sold by Chad & Sara!
- 06/08/09 07:52 AM
Just Sold! Cute as a bug rambler with sunporch and huge, private fenced backyard. Hardwood floors, perennial gardens, potting shed. Practical Charm! … (0 comments)
west savage blog: March West Savage Update
- 03/23/09 07:40 AM
By Chad & Sara Huebener It's March, and fortunately it is starting to feel like spring! The market is reflecting that as well. West Savage inventory is virtually unchanged from last month. There were 8 new listings this month, compared to 7 last month, and there are currently 22 total listings, down from 23 last month. However, there is a significant change that is good news - pending sales in West Savage have tripled in the past month. An increase in showing activity, offers, and sales are a normal reflection of spring market. We expect to see this number continue to rise in … (0 comments)
west savage blog: Comments on David Crook's Book Excerpt as featured in the Star Tribune 1/18/09
- 01/27/09 06:47 AM
By Sara Huebener I was excited to find that on Wednesday morning, David Crook, a national real estate expert, was featured on the KQRS morning show. Mr. Crook wrote a book, of which an excerpt was published in the January 18 Star Tribune. After listening to Mr. Crook and reading the excerpt, I have two comments: 1. He had some valid points, and 2. He is truly what he claimed to be - a national housing expert. I admit I have not read his book. Based on the KQ broadcast and the excerpt, one thing I do not recall Mr. Crook illustrating is … (0 comments)
west savage blog: Signs of Housing Recovery...and Some Tips a Homeowner May Want to Keep in Mind 1/27/09
- 01/27/09 06:45 AM
By Sara Huebener I would like to share some general housing stats that point towards housing recovery. With that, I have some a couple tidbits existing homeowners should keep in their back pockets for when and if they need to sell. Inventory in the Twin Cities is first and foremost. In July of 2007, when our market was at one of its lowest dips, housing inventory sat at 36,000 homes. Today, inventory is down to 26,000 homes. That 28% drop is GOOD NEWS! Tie that in with an 18% increase in pending sales in the past four months and we see signs of … (0 comments)
Regarding our earlier post on the hopeful extension of the tax credit.... The extension and modification of the tax credit was just approved and signed by the President. This is great news for first time homebuyers and existing homeowners alike.
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