About Olmsted County, MN

Copy - News Release from May of 2008

News Release

SALES PROFESSIONAL EARNS INTERNATIONAL DESIGNATION FOR LUXURY HOME MARKETING EXPERTISE

(Rochester, MN) -- Lois Marris with Edina Realty has earned the prestigious Certified Luxury Home Marketing Specialist designation in recognition of her experience, knowledge and expertise in the luxury home market. "Lois Marris is an example of a real estate professional who has worked to develop market knowledge and the special skills and competencies necessary to provide exceptional service in the fine homes and estates marketplace," said Institute President Laurie Moore-Moore, upon announcing Marris' designation. "Affluent buyers and sellers can turn to sales professionals who have this designation and be confident that they have special expertise and experience in the luxury home marketplace."

"I am committed to providing outstanding service to my clients," said Marris "the Certified Luxury Home Marketing Specialist designation is evidence of my ability to meet the needs of affluent buyers and sellers. My membership in The Institute for Luxury Home Marketing also provides me with marketing tools and networking capabilities that benefit my clients."

Marris is an award-winning real estate professional who has gone through special training and met performance standards in the upper tier market. She and her husband have been honored by her company, Edina Realty, with the Chairman's Circle Award for their outstanding sales performance. Lois has been in real estate since 2001 when she began her career by managing an estate portfolio of 70 properties. Lois comes from a rich history in Minnesota real estate with her father and two uncles each having owned their own brokerages. Prior to real estate, Lois was a manager for a Fortune 500 computer manufacturer. Her education is in Computer Science and Business Administration.

Marris and her husband, David, work as a team at Edina Realty. The Marris' are part of the Edina Realty Exceptional Properties group which specialize in service of upper bracket homes. Edina Realty has recognized the Marris' as top producing agents with various sales awards every year since they joined Edina in 2003. The Marris' sold over $30 million in real estate in 2007.

For current information on the upper tier market, contact Lois Marris at 507-398-3251 or e-mail LoisMarris@EdinaRealty.com. To search for luxury homes in the Rochester market, visit www.DavidAndLoisMarris.com.

Interest rates are unbelievably low right now and that is great news for home buyers. Last week the federal government took actions meant to lower consumer interest rates on bank loans. So far, it looks as if the steps taken are working and working well as bank lending rates fluctuate between 4.375% and 4.75% for a 30 year fixed loan.

These low interest rates, combined with low housing prices, are creating fantastic opportunities for home buyers right now.

For example, just last fall (2008) when interest rates were at 6.5%, a Rochester home was offered on the market at $234,900. The same home came on the market this spring with interest rates at 4.75% with a home price of $219,900. Your mortgage comparison would look roughly like this:

If you purchase the home at the $219,900 price with the 4.75% 30 year fixed mortgage rate, you would save:

Savings on Down Payment: $1,500
Savings on Monthly Payment: $304
Savings on List Price: $15,000
Savings on Interest Paid over the 30 year life of the loan: $95,891

The savings are significant and home buyers are responding. In the Rochester, MN real estate market we saw a significant increase in sales last week and fantastic buyer traffic at the Edina Realty open houses.

Economists tell us that home buying opportunities like this come around once every 70 years or so. Interest rates are expected to sneak upward over the months so now don't wait!

Visit www.DavidAndLoisMarris.com to search for homes, open houses and more. We can set up an automated search so you will be quickly notified when a home matching your criteria comes available. Just email or call today: DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.

Real Estate Agents David and Lois Marris are top producing REALTORs at Edina Realty of Rochester, MN.

Finally, a stimulus plan the average home owner can use! Recent actions taken by the Federal Reserve to raise the supply of credit and push down the home mortgage lending rates appear to be working. Last week home mortgage interest rates at Rochester area banks fluctuated between 4.375 and 4.75%. The drop in interest rates drove new buyers into the market and existing home owners to their loan officers.

One mortgage consultant I spoke with indicated she had locked interest rates for 22 people in 3 days. Homeowners with good credit are finally able to refinance at these lower interest rates even if they do not have 20% equity in their home. A homeowner I spoke with recently had just refinanced though they had just purchased their home 6 months ago. The refinance will save them about $400.00 per month. Now that is a significant savings for a credit worthy homeowner!

In Rochester, home buyers took advantage of the low interest rates. In the past seven days, 32 homes have accepted offers with more in negotiations. Almost a third of the homes pending sold within their first 30 days on the market. Low interest rates coupled with low home prices along with a supply of credit has finally shaken the housing market loose a bit.

If you are thinking of selling your home, act now and take advantage of the new buyer activity in the market. If you are thinking of buying, act now to take advantage of the low interest rates and home prices. In our lifetime, here has never been a better time for buyers to buy a home.

Buying or selling, contact us at DavidAndLoisMarris@EdinaRealty.com. Visit www.DavidAndLoisMarris.com to search for more buying and selling news.

REALTORs David and Lois Marris are top producing real estate agents at Edina Realty, the number one brokerage in Minnesota.

The Realty Alliance, a network of North America's elite residential real estate brokerages, has presented the Marris Team of Edina Realty, Rochester, MN with a sales award for 2009. This award is "in recognition of exceptional performance as one of leading residential real estate professionals in North America".

To learn more about the Realty Alliance, visit their web page at www.TheRealtyAlliance.com. To learn more about real estate in Rochester, visit www.DavidAndLoisMarris.com.

David and Lois Marris are top producing real estate agents at Edina Realty of Rochester. You may contact them for all of your real estate needs at DavidAndLoisMarris@EdinaRealty.com

There are 822 single family homes offered for sale in Rochester, MN as of March 22, 2009. This represents an increase of 25 homes over last week. Of the 822 homes, 308 are vacant.

In the last 30 days, 101 homes have gone to "pending" status, having taken an offer to purchase. Of these 101 pending homes, 38 homes or 37 % were on the market for less than 30 days.

Statistics from the Southeast Minnesota Association of Realtors. Get more real estate information at the web page for REALTORS David and Lois Marris at www.DavidAndLoisMarris.com.

Email: DavidAndLoisMarris@EdinaRealty.com. David and Lois Marris are top producing real estate agents in Rochester, MN at Edina Realty.