What's the Real Estate Buzz in Owatonna?

Sales have been picking up since August and the outlook is brighter with increased activity. It seems that the first time buyer stimulus plan has been working. We've seen a strong presence of those buyers in our market and that helps everyone.

We predicted that first time home buyers would be the mainstay of the 2009 market, along with buyers relocating into Owatonna for their jobs, and it appears to have panned out that way. One of my lending experts, Brenda Bednar (through Advisor's Mortgage) noted that she is taking applications from those two buyer niches. Property issues are becoming more of a challenge with the increase in foreclosed properties, many of which have deferred maintenance issues to contend with. If you have any financing questions you can contact Brenda at 507-455-1858. Her expertise will get you moving in the right direction.

According to the Southeast Minnesota Association of Realtors MLS our year to date activity is showing 220 closed residential listings in Owatonna. The average sale price of sold properties is $143,346 which is down from 2008 when the average sale price at this time was $166,284. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Our average market time is 116 days which is actually down from 132 in 2008 at this time. The market has changed, in particular housing prices.

At this time we have 252 active residential listings with an average list price of $184,889. They've been on the market for an average of 157 days.

Market cycles affecting housing come and go, just like all segments of the economy. Right now may seem like a challenging market, but it's also a market of opportunity. Investors and first time home buyers will be the obvious winners, but existing homeowners can profit, too. If you're looking to move up into a larger home - it's a great time to make that move. The inventory and prices of move up homes have never been more plentiful and attractive. Call or e-mail me today to learn about how this market can be beneficial for you. It's time to get moving.

What's Going on in Owatonna in October?

10/1 and 10/2 Harvest Fest 2009 - downtown stores participating with decorated store fronts and the Scarecrow contest

10/3 Homecoming for Owatonna High School, parade downtown in the afternoon, football game at 7:00 and activities for students Friday night at Southpark Bowl Go Huskies!

10/2 and 10/3 Artists of Minnesota Showcase, Owatonna Arts Center

10/3 Owatonna Hospital public Open House at their new location at 2250 26^th Street NW

10/4 - 10/10 Fire Prevention Week, Don't get burned, plan and practice your fire safety and evacuation plan

10/5 Steele County Historical Society Pasta Night Out Fundraiser, call Laura at 507-451-1420 for information

10/2 and 10/3, 10/9 and 10/10 The Wedding Singer - The Awesome Musical, presented by Riverland Community College

10/10 7^th Annual Women's Health Day, Owatonna Holiday Inn

10/10 Express hockey home game, Steele County Four Seasons Centre

10/17 Upper Midwest and Cavy Show, Steele County Four Season's Centre

10/18 Young Life Banquet, Willow Creek School

10/27 Owatonna Chamber Business After Hours, United Prairie Bank

10/31 Halloween, watch out for all those little ghosts and goblins, drive safely

Owatonna is buzzing with activity in the month of July. It's certainly one of my favorite months. Here are some of the activities on schedule for the next few weeks.

7/16/09 11@7 Concert in Central Park - Mark Arthur is performing

7/16/09 3^rd Thursday Networking Event - Valleyview Assisted Living from 11:57 am to 1:00 pm

7/16/09 Eagles "Cruise In" Car Show 5:00 - 8:00 pm at the Eagles Club

7/17 - 7/18 American Cancer Society Relay for Life - Steele County Fairgrounds

7/18/09 Farmer's Market - Central Park

7/18/09 Steele County Humane Society Adoption Day - Mark's Repair from 1:00 - 3:00 pm

7/19/09 American Lung Association Bike Across America Camp - Steele County Fairgrounds

7/20/09 Wee Pals Golf Event, Dinner and Silent Auction

7/21 - 7/25 Nunsense Jamboree - Riverland Community College - Austin Campus - 7:30 pm

7/22/09 Crazy Days Ice Cream Social - Central Park 6:00 pm

7/23 - 7/24 Crazy Days Sidewalk Sale - Citywide sales

7/23/09 11@7 Concert in Central Park - Owatonna Community Band

7/23/09 Eagles "Cruise In" Car Show 5:00 - 8:00 pm at the Eagles Club

7/24 - 7/26 MSF State Baseball Tourney

7/24/09 Crazy Days Hog Roast and Dance - Downtown

7/25 - 7/26 Crazy Days - 17^th Annual Festival of the Arts - Central Park

7/28/09 Business After Hours - Fame Awards - 5:30 to 7:00 pm

As you can see there's something for everyone - from arts and music, to sports and cars - and plenty more! Owatonna's a short drive from the Twin Cities - so hop in the car and discover why Owatonna has been selected as one of Money Magazine's Top 100 Small Cities.

And if you want to make Owatonna your home, give me a call or send an e-mail. I'm glad to help with all or your Owatonna real estate needs.

I can be reached at 507-390-6109 or ljohnson@owatonnahome.com

Lynn Johnson and Chad Hacker - the Owatonna Real Estate Pros

Coldwell Banker Home Connection