About Olmsted County, MN

Rochester Housing Market Update with REALTORs David and Lois Marris

The housing market in Rochester MN recently made the national news. USA Today's "Close to Home" profile of a housing market focused on Rochester MN for Tuesday, April 13th. The national attention helps us get the positive message about Rochester's housing market heard. While our housing market has definitely experienced a correction, Rochester has faired much, much better than other parts of the state and the nation.

We have fewer homes for sale in Rochester in 2009, thus fewer home sales. Vacant homes for sale are down and decreasing. Foreclosures have never really flooded our housing market. Our jobless rate is one of the lowest in Minnesota. Our economy has changed but not gone stagnant or been depressed. Houses in good condition, priced well and marketed with an aggressive marketing plan like ours SELL, some in less than 30 days.

A few years ago, just about anyone could get financing for a home. Renters hurried into the housing market, people that didn't need to sell a home did anyway and moved into something new and different. Days on the market for selling were under 60. Mayo residents, here for 3-4 years, purchased instead of renting, fairly certain they could sell with a profit when they left. Property appreciation was sometimes in the double digits!

Now, credit is tighter (and rightly so). What was a potential home buyer just a few years ago is now a solid renter and the rental market is alive and healthy. People are content to stay in their homes a bit longer. The number of days on the market is about 121 and decreasing. Property appreciation is much more realistic. Most of these things represent healthy changes which will provide stability in more ways than one. So we have seen a change, but never a collapse.

To read more visit USA Today's Close to Home article on Rochester MN housing market.

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Rochester MN Real Estate Agents David and Lois Marris are top REALTORs at Edina Realty. Edina Realty is the number one brokerage in Minnesota. Visit www.davidandloismarris.com to search for Rochester homes for sale. Contact: LoisMarris@EdinRealty.com, DavidMarris@EdinaRealty.com, 507-398-3251.

Automate your home search with Rochester MN REALTORs David and Lois Marris

Finding the right home can be fun and exciting. The internet gives you instant and constant access to homes anywhere around the world. You can even look inside homes with videos, virtual tours and lots of photos and never have to step inside the home itself! But have you searched and searched and still haven't found what you are looking for?

If you want a hassle-free, no obligation, automated home search, we can help! Just provide your home search critieria and we'll send you a list of all the homes that match your wish list. When a new match comes available for sale, you'll be one of the first to know via an automated email update. And since our real estate home search is more powerful than those available to the public...go ahead and be specific! Let us know that you want an walkout lower level in the certain school district with a 4 bedrooms on one level and room for horses!

Our automated search is a favorite and well used tool of our clients. Clients tell us they prefer we don't call them with every match and so we don't! We will only contact you via email twice. First to make sure the system is working for you. Then once again after 6 months to make sure you still want to use the service.

All we ask is that you contact us when you see a home which interests you. We can answer your questions or arrange a showing for you. We may have already seen the home for ourselves and can share our experience with you.

That's it! Good luck with your home search! Hint: Use the "comment" field on the home search web page to tell us the fine details of your home search.

Search All MLS Homes Now

Automate My Home Search

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Rochester MN Real Estate Agents David and Lois Marris are top REALTORs at Edina Realty. Edina Realty is the number one brokerage in Minnesota. Visit www.davidandloismarris.com to search for Rochester homes for sale. Contact: LoisMarris@EdinRealty.com, DavidMarris@EdinaRealty.com, 507-398-3251.

Rochester Arts and Sciences Academy

On April 9th, 2009, Mayo Clinic radiologist Dr. Brad Ericksonhas been named board president of Rochester Arts and Sciences Academy. The private school offers the International Baccaluaureate curriculum. It was founded two years ago by Matt and Latha Stead. The Steads recent move initiated the new board appointment. Find out more about the school at http://www.rochesteracademy.org/

For more information about all Rochester schools, visit our web site at www.davidandloismarris.com/school-info.asp

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David and Lois Marris are top producing real estate agents at Edina Realtyof Rochester, MN. Edina Realty is the number one brokerage in Minnesota. Visit us at: www.DavidAndLoisMarris.com, DavidAndLoisMarris@EdinaRealty.com, 507-398-3251.

Rochester Market Square is hosting a Ladies Night Out Benefit for PossAbilities of Southern Minnesoata. PossAbilities is a non-profit organization which helps support individuals with disabilities, helping them to be active community participants.

The event will be Thursday, April 23rd, 2009 from 5:00 - 8:00 PM. Coldwater Creek, a clothing store for women, will show off the latest Spring fashions with a fashion stroll. In addtion to the business based at Rochester Market Square Home Design Center, there will be guest vendors displaying hand bags, jewlry and more.

Complimentary wine, hors d'oeuvres and desserts will be served compliments of Victorias, Z Pizza, Daube's Bakery and Noodles and Co. Door prizes will be given away with the grand prize being a free Salon Makeover and shoppng spree.

Please come and support this event! RSVP to RMS@RochesterMarketSquare.com, or 507-289-3622. Rochester Market Square is located at 37 Wood Lake Drive SE.

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David and Lois Marris are top producing real estate agents at Edina Realtyof Rochester, MN. Edina Realty is the number one brokerage in Minnesota. Visit us at: www.DavidAndLoisMarris.com, DavidAndLoisMarris@EdinaRealty.com, 507-398-3251.

Rochester MN Real Estate Agents David and Lois Marris explain why NOW is a great time to buy a home.

Believe it or not, now IS a great time to buy a home. I'm not just saying that because I'm a real estate agent. Rather, because I'm a real estate agent I recognize and understand the signs of great opportunity for those who can safely afford to buy a home.

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1. Interest rates are low

Take this to heart home buyers. You will not likely see interest rates like this again for years to come. If you purchase a $200,000 home at 4.625% your principle and interest rate payment will be 1,028.28. If that rate goes up to 5.625%, AND IT WILL, your payment will be $1,151.31. Your total interest paid at the lower rate over 30 years will be $170,180 compared to $214,472. Just one point higher in the interest rate makes a significant difference! Visit our mortgage calculator and estimate your own mortgage payments at various possible interest rates.

2. Housing prices are low

Due to the housing market correction, homes are being offered for sale at better values than anything we've seen recently. Today's home buyer gets the stunning combination of low home prices AND low interest rates. The laws of economics tell us this is an opportunity that comes rarely and won't last for years.

3. Buyer Incentives

There are a variety of incentives being offer to today's home buyer which may not be here next year. First time home buyers may qualify for a tax credit of up to $8000. To qualify, you must purchase your home by December 1, 2009.

Home sellers are also offering incentives to buyers. Sellers are sometimes willing to pay for some of the buyer closing costs. This allows the buyer to save their cash for their down payment or for home improvements.

Our team, David and Lois Marris, represents home buyers free of charge, securing our commission from the seller, not the buyer.

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These are all great reasons to buy now. I'm convinced that home values are stabilizing and 2010 will not hold the same opportunity for home buyers. Take advantage of these opportunities today! Search all Rochester homes for sale. Call us for your next real estate transaction: www.DavidAndLoisMarris.com, LoisMarris@EdinaRealty.com, 507-398-3251.

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David and Lois Marris are top producing real estate agents at Edina Realtyof Rochester, MN. Edina Realty is the number one brokerage in Minnesota. Visit us at: www.DavidAndLoisMarris.com, DavidAndLoisMarris@EdinaRealty.com, 507-398-3251.