Minneapolis, MN Real Estate News

By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
Environmentally-Friendly Victorian Home to Be Showcased At Minneapolis/St. Paul Home TourAt 95 Mackubin Street, in the Ramsey Hill neighborhood of St. Paul, one historic Victorian house is receiving an earth-friendly modernization. Green remodeling expert Building Arts will showcase the project at this April's Minneapolis/St. Paul Home Tour.A pilot project for Minnesota GreenStar Certified Green Homes and Remodeling, this home features geothermal heating and cooling, recycled flooring, Marvin Low E windows, energy-saving appliances, closed-cell foam insulation, and other innovative, earth-conscious elements. The floor plan has also been updated for contemporary living, with abundant natural light and an open plan for ventilation.From concept through construction, Building Arts dedicates...
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By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
The Minneapolis Advantage Loan Program - Available to Everyone, Even Luxury HomesThe Minneapolis city council has recently approved a new loan program for buyers who purchase a single-family dwelling, or duplex, in Minneapolis neighborhoods that have experienced higher than normal levels of mortgage foreclosures. The program offers a $10,000 zero percent interest loan that is forgivable over five years to anyone buying a home in which they will live in these key neighborhoods.Minneapolis neighborhoods who could benefit from this program include Camden, Weber, Folwell, and McKinley, as they are offering an additional $4000 for homes bought in their areas. This brings the total offered to $14,000, and the city of Minneapolis is looking for other areas that will partner this initiative and...
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By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
One thing that surprises buyers that come to the Twin Cities to look at homes is the house etiquette they must abide by. The number one rule is that upon entry, buyers and agents must remove their shoes before they venture further into the home.I have had many question the reason, but it is definitely easier to explain in the middle of winter. Take for instance a winter day, which was covered in a nice layer of slush. Imagine if you were a home owner who had to clean up a mess of dirty slushy footprints all over your newly cleaned floors. It would make anyone mad. Luckily, most sellers help out and provide a large rug where we can put our shoes, and some are even nice enough to provide a chair to sit on.I remember one buyer, having worn lace-up shoes, refusing to take them off when we w...
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By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
 Single Family Homes for sale in the Twin Cities are at record levels, with the average sales price dipping just below 2005 levels. Will they keep going down? Honestly, I don't know, but there are signs across the region that prices might be leveling off.The quick market analysis so far this year is that listings are up, sales are down. But you knew that already, didn't you?
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By Eric Kodner, Wayzata Lakes Realty: Twin Cities, Madeline Island
(Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes)
Midwest composer/producer/songwriter and historian Warren Nelson (of Big Top Chautauqua fame) has written a musical theater production about pioneer life in Minnesota, to be presented at the Pantages Theater in Minneapolis, May 10 and 11. "Old Minnesota: Song of the North Star" is Nelson's musical and historical tour of life in the Gopher State.  The show features large screen still photographs of life in the early days of Minnesota statehood.  The performances at Minneapolis' Pantages Theater are part of a Big Top Midwest Tour of Minnesota and Western Wisconsin, with appearances in Glenwood (April 25), Stillwater (May 3rd), Elk River (May 13) and downtown Minneapolis.  Wisconsin stops on the tour will include Chippewa Falls and Saint Croix Falls. Student performances of "Old Minnesota:...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Location, location... yeah you konw the rest!  But seriously, look at these stats for SW Mpls and tell me is a bad market.  In 2007 the average SW Home Seller was on the market 112 days, and received 95.3% of their asking price.$310,000 was the Median Sale Price in 2007 ($200/sq. ft.)Up 8% from 2006 Median of $287,000Up 47.6% from 2001Also, a very important development in the Metro Market occurred this spring, the Number of Listings has started to fall.  The current housing market "down turn" is based on high inventory levels resulting in a Buyer's Market.  Sales volume has weakened as well, but fundamentally our "problem" is a simple over supply issue.  As the supply of homes drops, the balance between supply and demand will improve, strengthening the market.  It'll take quite some tim...
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By Jeremy Redlinger, NMLS #627335
(Guardian Financial)
If you are looking to purchase a home in the Twin Cities area, you may want to look in Minneapolis where the Advantage Loan Program can assist you with up to $10,000 on the purchase of a new home. The terms of the loan include a zero percent interest rate, no monthly mortgage payment and the mortgage loan is forgivable after 5 years. The forgiveness rate is 20 percent per year, which equates to $2,000 a year. If you sale the property or pay off your current mortgage within 5 years, the remaining balance that has not been forgiven will need to paid off. However, if you refinance within 5 years the loan can be subordinated only after the homeowners receives counseling. A lot of neighborhoods within Minneapolis are also contributing up to an additional $4,000 to homebuyers who purchase a ...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Linden Hills Neighborhood Council  Linden Hills Business AssociationThis quaint, and popular, neighborhood just south of Lake Calhoun and west of Lake Harriet is bordered to the south by West 47th Street, and to the west by France avenue. Named by a developer for the linden trees and rolling terrain, was developed in the 1880s to entice home-buyers to leave downtown for cottages on Lake Calhoun and Lake Harriet. Most of the original cottages have been replaced by a wide variety of home types.  Contemporary designs, ramblers, colonials, tudors, and bungalow can all be found in Linden Hills.Linden Hills Power and Light, a local think tank, is on a mission to educate and eventually implement an alternative energy solution for that area's business and residents.  The groups actions led to ...
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By April Hayden-Munson, Brookfield Wisconsin Real Estate
 Thanks to all who supported Kelly.   Her suffering is now over, She has gone home to Heaven. Kelly Kristine Andrews - 27 years young! Kelly has been diagnosed with metastatic lung cancer. Even though Kelly never smoked and has taken good care of herself she finds herself in a very difficult situation. Kelly has endured intense rounds of chemo and radiation. Her cancer has spread. Her fight to live is admirable. Kelly has told the Doctor's "Don't you give up on me, I haven't given up yet" That was within the last week (4/3/08) - when she was told she has Stage 4 cancer.  Please help if you can. If you are in the Minneapolis area, please stop by the benefit. If you are not local you can donate via PayPal or to the address below.   This is a call for your help. Your contribution will be ...
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By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
If you have ever been to a Motley Crue concert in the last few years, you would know that their stage theme is absolutely fantastic. The reason? They create an environment that not only tells a story, but they evoke emotion and engage the fans. I attended a concert a couple years back, and while not a raving fan, had a fantastic time. How could you not with all the fire works, dancers, music, and fun?In the soft real estate market today, homes are taking longer to sell, and many times, home owners are reducing their price to get someone, anyone, to take the home off their hands. Sadly, many probably wouldn't have to undercut themselves if they looked to Motley Crue for inspiration.Excuse me? Motley Crue?Yep and for obvious reasons. Buyers want to walk into a home and immediately feel li...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
New Listings Down!Hot on the heals of last weeks rising sales comes the news we've all been hoping for...New Listings were down 26.3% compared to the same period last year, and down 14% from last week.New Listings are homes for sale added to the market this week.  Prolonged declines in New Listing activity, combined with healthy sales activity, will eventually bring our market back into balance.  The root case of the market's recent softening is the imbalance in supply and demand.  In spite of all the news stories, there is one fundamental issue, over supply.  The result, Sellers must compete to sell their homes, and Buyer's choose the best homes offered at significant values.  Listing activity has been consistently lower all year, this weeks activity is the lowest yet.  Sales activity ...
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By Marzena Melby, Realtor, Twin Cities Minnesota Real Estate
(Coldwell Banker Burnet Realty)
  When you live in Twin Cities, you have many choices when it comes to recreation.  This is what some Minnesotans do at the end of March when layer of ice on lakes is still thick enough, air temperature is a bit warmer and the wind picks up. These photos of ice surfers on Lake Calhoun in Minneapolis were taken on March 27, 2008.                                                 If you are relocating to the Twin Cities, contact me for a FREE  comprehensive RELOCATION PACKET.  ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Contact Marzena M. Melby, Broker/Partner, Counselor Realty, Inc., Licensed REALTOR® in the state of Minnesota at 612-267-6798 to list your property for sale or to purchase a property in the Twin Cities Greater Metro Area.Visit my profile to...
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By Jennifer Kirby, The Luxury Agent
(Kirby Fine Homes)
I get a call at least once a week from an upset home owner asking if I could let them know what their home is worth. Frightened of this upside-down real estate market, home owners this last week have been receiving their 2008 tax bills in the mail. They don't like what they see.For many, their tax assessment is valued for more than the house could sell for if it became available for sale. Some are even $100,000 less than the assessed value. So what is to be done?For now, nothing.Counties like Dakota County, understand that home owners are upset, but there is little they can do right now. With budgets sky rocketing over the last five years, cities have been enjoying the financial wind fall brought to them through higher property taxes. Now that property values are declining, cities have ...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Kenny Neighborhood AssociationTucked safely into the corner of Lyndale Ave and the Crosstown (Hwy 62) Kenny Neighborhood is a quite residential area of Southwest Mpls.  It is bordered by Highway 62, 54th Street, Lyndale Avenue, and the alley between Knox and Logan avenues south. Deviating slightly from the city's grid plan Kenny's charm is accented by curving streets, and the occasional hill. The dominate features are its park and its elementary school, which were named for Sister Elizabeth Kenny, an Australian nurse who a treatmant for polio, and Grass Lake, a small but picturesque pond that attracts waterfolw and hosts it's share of pond hockey games.  Kennys homes were mostly built in the 1940s or later and are generally larger than the houses in adjacent neighborhoods such as Armata...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Fulton Neighborhood AssociationIn the southwest corner of Minneapolis, Fulton's boundaries are West 47th Street to the north, Penn Avenue South to the east, West 54th Street to the south, and France Avenue South to the west.  Nearby neighborhoods include Linden Hills to the north, Lynnhurst to the east and Armatage to the south and Edina lies to the south and west. Lake Harriet sits in Fulton's northeast corner and Minnehaha Creek runs through it.  The neighborhood takes its name from Robert Fulton, the engineer and artist who invented the steamboat in the 19th century.At the intersection of 50th St & France Ave exists a commercial district, which lies along the border between Minneapolis and Edina.  Home to many small upscale boutiques, eateries it has been referred to as "Minnesota's ...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
East Harriet Farmstead Neighborhood Association East Harriet Farmstead Neighborhood takes its name from both Lake Harriet, and Farmstead Park. The neighborhood is bordered by 36th Street on the north and 46th Street to the south. Lyndale Avenue is the eastern boundary; Lake Harriet and Lakewood Cemetery largely make up the western border of the neighborhood. In addition to these Minneapolis landmarks, the Lyndale Park Rose Garden, Clara Barton Open School, Theodore Wirth House and the Thomas Sadler Roberts Bird Sanctuary are located within East Harriet.  A great deal East Harriet is open green space, with four gardens, a bird sanctuary, and an arboretum.  One of the neighborhood's more famous residents, Theodore Wirth designed the cities park system just after the turn of the century.Ma...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
Armatage Neighborhood Association  Minneapolis Neighborhood Profile: Armatage Armatage holds down the southwest corner of the city. It is bounded on the north by 54th Street West, on the east by Logan Avenue South, and on the south and west by the city limits at Highway 62 and Xerxes Avenue South. Originally part of Richfield, Armatage was annexed to Minneapolis in the 1920's.  The great majority of housing was built between 1949 and 1969, while about 5 percent of the dwellings were built before World War II.Home values are rising in this area, in spite of the general market, and homeowners continue to invest in the homes.  The most common renovations in this Armatage are finished basements and attics, and addition off the kitchen into the back yard.  There are a handful of tear downs i...
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By Ben Kolkman, Real Estate Author & REALTOR, Southwest Minneapolis & Edina Minnesota
New Page 2 Get Out Your Sold Signs! We saw a tremendously positive sign in the past weeks stats, Pending Sales, or the number of new deals, are up 11% percent!  Buyers are taking advantage of this market, and are starting to buy homes.   This trend will continue as long as mortgage rates remain attractive.  Buying activity was strongest in the three micro-markets: Single family detached home in the SW Metro from $700,000-$900,000 Residential investment property under $200,000 South/Southwest Minneapolis, and Edina/St. Louis Park from $250,000-350,000 The number of new listings in this period out paced sales, result; the total number of homes available rose, slightly.  Anecdotally, in my dealings with bank owned properties, and short sales, the banks are starting to "deal" a little more...
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By Steve Jecha
(Coldwell Banker Burnet)
For a complete search of the Minneapolis MLS, go to http://www.gopherhomes.com/ . Here are the latest homes to hit the market in Southwest Minneapolis:  Street AddressBedroomsBath - TotalList Price4303 Bryant Ave S #C211999002727 43rd St W #303212197005844 Emerson Ave S212349005653 Garfield Ave422689005045 MORGAN Ave S323699005054 Beard Ave S325250004500 Chowen Ave S34649900  
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By Scott Dovala, Santa Rosa Mortgage and Home Loans
(Ascent Home Loans)
As a National Mortgage Banker, Ascent Home Loans has provided innovative lending solutions for over 10 years. With our state of the art technology, I can give you quick loan decisions when you need to refinance, or fast pre-approvals that will give you that edge when negotiating for a new home. At Ascent Home Loans of Santa Rosa CA, I want to help you make the right choices when it comes to selecting the correct mortgage for you and your family. How do I do this?  I listen to my clients. With the right questions being asked, a client can provide a wealth of information on their future home loan and investment needs. I unlike other lenders, help you choose the right loan program that best fits your needs, not ours. Now, I can be like other every other mortgage company and tell you we ha...
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