Julie Moorhead

TWIN CITIES AREA

Strands upon strands of holiday lights adorn homes and trees this time of year, and parts of the local housing market seemed to light up in November, too. In the 13-county Twin Cities metropolitan area, the months’ supply of inventory decreased to 5.7 months, according to the Minneapolis Area Association of REALTORS® (MAAR). Generally, 5 to 6 months is considered a balanced market when buyers and sellers are on a more level playing field. Other bright news came from pending sales, which were up 30.2 percent over last November, showing that houses are indeed moving once placed on the market.

MAAR also reported a 10 percent decrease in home prices from last November, with the median sales price at $149,250.

The lowest inventory of homes to choose from since 2004 has resulted in many properties, including foreclosures and short sales, receiving multiple offers as buyers compete over fewer options.

One month after being named the healthiest housing market in the nation, many experts agree that the market is showing positive signs of healing, and will continue to do so with increased buyer demand.

“Something is occurring positively in Minneapolis, even though for homeowners, prices have yet to stabilize,” said Lawrence Yun, chief economist of the National Association of REALTORS®. “Minneapolis is showing the lights twinkling.”

Based on information from the Minneapolis Area Association of REALTORS®, Inc. Data collected from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC., for properties in the 13-county region exclusively.

Don’t clash with home decor

“If your living room is painted ocean blue, skip the red garland and opt for white snowflakes or a silver glass-ball wreath. Use rich tones like gold, cranberry and forest green if you have an earthy color scheme.” – HGTV

(photo courtesy of interiordezine.com)

Do consider your tree space

“A tall Christmas tree can help you show off your two-story great room, if the wide base won't overwhelm the floor space. If your living area is small, save space with a skinny tree.” - HGTV

(photo courtesy of mountaindesigns.com)

Do use real greenery

“Adorning the front porch or walkway with potted spruce tops shows an effort in making a house a home. And, when all else is barren, fresh greenery is all the more beautiful.” (photo courtesy of countryliving.com)

Don’t overdo the lights

“Don’t go Clark Griswold crazy during the holidays. Keep your decorating simple and classy. Less is best this time of year.” – Carrie Anders, Chippewa Valley/Eau Claire office

“Too many trimmings may distract buyers, but the right accessories can draw attention to your home's best features. Dangle mistletoe in an arched doorway, or display your menorah on the ledge of a bay window; just don't block a beautiful view with stick-on snowflake decals or clutter an elegant fireplace with personalized stockings.” – HGTV

Do accentuate the positive

“Too many trimmings may distract buyers, but the right accessories can draw attention to your home's best features. Dangle mistletoe in an arched doorway, or display your menorah on the ledge of a bay window; just don't block a beautiful view with stick-on snowflake decals or clutter an elegant fireplace with personalized stockings.” – HGTV

Did you know that over 70% of Minnesotan's already have some type of home warranty? The majority purchase a service plan through their energy provider and have the cost added to their monthly energy bill. This is a good idea, although most of these service plans only cover repairs. If the item is damaged and cannot be repaired, the homeowner must replace it themselves. Our warranty plan offers either repair or replace coverage for pretty much the same cost.

Many of the real estate disputes that occur after the closing are caused by failure of some home system. Purchasing or selling a home is one of the biggest investments you’ll make. Why would you give up the piece of mind of having a warranty protection plan? See our buyer and seller benefits below.

Protection

The Edina Realty Home Warranty is a one-year service contract that helps protect you against the high cost of unexpected repairs/replacement of mechanical systems and appliances that fail due to normal wear and tear.

Convenience

Edina Realty Home Warranty removes the worry and time-consuming task of having to find a service company. When there’s a failure, you simply call us and we’ll provide a qualified, prescreened service technician to take care of you.

Buyer Benefits

• The comfort of being protected. Any time you move into a new home, there can be many expenses to cover. Take comfort in the fact that repairs to a covered system or appliance won’t be one of them.
• Reliable service, 24-7. You don’t have to worry about calling different vendors for estimates and repairs. Just call us. We’ll arrange for a diagnosis, choosing from our list of qualified, pre-screened service technicians. Be assured that the convenience of the service is matched by the quality of the repairs.
• Valuable protection year after year. The good news is that an Edina Realty Home Warranty protects you from the unexpected. The great news is that the warranty can be renewed annually, so as normal wear and tear takes its toll on mechanical systems and appliances, you’ll be protected.
• Our Service Guarantee. If we cannot provide a qualified service contractor in a timely manner, we will approve the use of a contractor outside of our service network to ensure convenient, prompt service.

Sell your home with an Edina Realty Home Warranty

Sellers can protect the equity investment in their home with an Edina Realty Home Warranty. A warranty placed during the listing period can eliminate many "out-of-pocket" expenses sellers often experience from unexpected breakdowns and repairs to mechanical systems and appliances.

Seller coverage is FREE to the seller for up to 12 months when they commit to purchase coverage for the buyer at closing. If the property never closes, the seller owes nothing, even if claims were paid.

Seller Benefits

• Coverage while your home is on the market. Mechanical system failures are covered during the listing period for up to one year. This means if something goes wrong, you can continue to concentrate your efforts on selling your home instead of worrying about repairs.
• A powerful marketing tool. Your real estate professional will tell you that buyers prefer to buy a house that includes a home warranty. In fact, research shows that 8 out of 10 buyers prefer to buy a warranted home. It’s added incentive that gives you the edge and sets your home apart from the competition.
• Help prevent post-sale disputes. If an unexpected failure occurs in the home after the sale, the buyer will turn to us not you to solve the problem.

Avoid the worry and inconvenience of dealing with unexpected home repairs. With Edina Realty Warranties, you get reliable protection backed by exceptional service.

An early Monday morning sitting with the first cup of coffee and watching the amazing October sun rise, I saw an emergency vehicle rush down our dirt road. Followed closely by an ambulance and 2 EMT’s they stopped somewhere by the homes at the end of our driveway. We live in a very rural part of Wright County, surrounded by lake homes which are only 30% occupied year round and a 1,200 acre wildlife management area. To say that there are not a lot of people around at 7:30 am on a Monday in October is an understatement.

Our driveway is 2/10^th’s of a mile long, curves and is hidden by thick trees. I couldn’t see whose home they were at and I didn’t want to be one of those gawking types who can’t help but seem to get in the way, so I sat tight worrying about our friends and whether one of them had made the 911 call.

As I wait for an update from everyone to see if we are all okay and I thought it is probably time to re-certify in CPR. Being in real estate, it is rare but has happened where clients while out viewing houses, went into sudden cardiac arrest. Sudden cardiac arrest is not a heart attack although the symtons appear similar. Sudden cardiac arrest occurs when the heart suddenly stops beating and is caused by abnormal heart rythm. It is estimated that 325,000 americans die from SCA each year - more than car crashes, house fires, AIDS and breast, prostate, and colorectal cancer combined.

October is the National Sudden Cardiac Arrest awareness month. If you can share this with just 3 of your friends we may be in the right place at the right time to save someone's life.

Free CPR/AED Classes at St. Cloud Hospital
Every Monday and Thursday
2:30-3:00pm
St. Cloud Hospital/Central MN Heart Center, Telemetry Dept (Family Hospitality Room) map
Contact Susie Osaki Holm for more information at 320-251-2700 ext. 54174 or OsakiHolmS@CentraCare.com

It’s time for a new approach to saving lives
Take Heart America brings doctors, nurses, paramedics, community leaders and people like you together in a new program designed to dramatically increase the number of people who survive.

Take Heart America was founded by a network of visionaries who recognized that a coordinated, comprehensive approach to resuscitation therapies would substantially increase sudden cardiac arrest (SCA) survival rates beyond the benefits achieved with individual therapies alone. The initial results from St. Cloud MN and Anoka MN have been remarkably successful.

Building community awareness is paramount to the Take Heart America strategy for saving lives. Teaching CPR and encouraging those who have been trained to act when necessary can significantly increase an SCA victim’s chance of survival. THA’s strategy to deploy automatic external defibrillators (AEDs) in residential communities and public places along with improving the resuscitation techniques of professional rescuers will also increase the chances for the victim to survive and resume a productive life.

Annandale Housing Market Update - August 2011

Sold property search - (Annandale)

Change in Change in Change in

New Listings Closed Sales Median Sales Price

- 33.3% + 600.0% - 39.7%

2010 2011 Change

New Listings 165 129 -21.8%

Closed Sales 48 43 -10.4%

Median Price $144,800 $150,445 +3.9

We are nearing fall and the end of the third quarter with housing numbers bouncing up and down. We had more buying activity in August this year but overall closed sales are down ten percent.

As the gap between inventory and closed sales narrows, we are down to 6 months of inventory (3-4 months create a balanced market) buyers may have to move quicker to get the home of their choice.

Prices here in Annandale and across the country are seeing consecutive weeks of improvement indicating that the housing market is trying to stabilize.