Lynn Johnson, Owatonna, MN Real Estate

You can tell autumn is here. All the activities of Fall are a great indicator, along with the Fall season sports wrap up, you can feel the chill in the night air and see the vivid colors of the changing leaves!

This Thursday marks the second "3^rd Thursday" even sponsored by the Owatonna Area Chamber of Commerce and Tourism. It's a great opportunity for networking, and a free lunch is provided. You can't find a better deal than that. It's held at Roosevelt Community Center from 11:30 to 12:30.

FarmAmerica is hosting its annual haunted corn maze and mill which promises fun for kids of all ages. It runs during the weekend of 10/17 and 10/18 from 6:30 - 9:30 pm. On the 25^th of October they're hosting a "All Hallow's Eve" get together from 12:00 - 4:00 pm.

The Little Theatre of Owatonna is featuring "Quilters" a musical by Molly Newman & Barbara Damashek. It runs 10/23/08 to 11/01/08. You can check out the Little Theatre website for specific show times.

Seniorplace is offering a "Be In Health Conference" the weekend of 10/24-10/26 from 1:00 - 9:00 PM.

The VFW is hosting one of their delicious pancake breakfasts as a benefit on Sunday, October 26^th from 8:00 - 12:00 pm.

Don't miss out on the Chamber's October Business After Hours networking opportunity which will be held October 28^th and is hosted by Verizon and Big 10 Restaurant from 5:30 until 7:00 pm.

Stay tuned to see what else is going on around Owatonna.

What's the Real Estate Buzz in Owatonna?

I'm experiencing the end of summer blues, but the real estate market seems to be maintaining positive momentum. August saw fewer showings but we seemed busy with buyers and offers.

We're still noticing a strong presence of first time home buyers, along with buyers relocating to Owatonna for their jobs. According to my lending expert Kriss Meier of Countrywide (through Profinium Bank in Owatonna) she is taking applications for buyers, but with credit tightening and the zero down programs going away we'll expect to see a change in their ability to purchase. 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 Kriss at 507-446-4289. Her expertise will get you moving in the right direction.

According to the Southeast Minnesota Association of Realtors MLS our year to date (through 9/2/08) activity is showing 204 closed residential listings in Owatonna. The average sale price of sold properties is $167,318 which is down from 2007 when the average sale price at this time was $174,422. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Houses are selling at about 95% of their final list price. Our average market time is 129 days which is a positive trend from 174 days from April of this year.

We have 210 active residential listings which has been pretty steady this year. We hit over 300 listings before the end of 2007, so it's nice to see that number come down. We have 388 active building lots on the market, with 11 lots sold year-to-date. That number is way down from previous years and builders have drastically slowed their new starts.

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.

The fun-filled fairis coming to Owatonna in Steele County! Local residents look forward to the fair all year long. Some people like the midway rides and the thrills that brings, everyone enjoys the food and each has their favorite. There are art, floral, food, clothing, 4H, craft, beer/wine, displays galore with entertainment at every turn.

The beer garden is the spot for music, renewing friendships and festivities. There will be numerous bands that play during the fair with music sure to please all tastes. There are several stages throughout the fair that showcase local talents of all ages, from dancers and singers to polka bands and the latest high school garage bands.

The 4-H kids get to show off the animals they've taken care of and raised all year to demonstrate their handling and grooming abilities. There are rabbits, chickens, pigs, horses, cows and calves. There's a petting zoo, pig races and camel rides.

There are hundreds of food vendors and other vendors at the fair selling the latest and greatest gadgets and services. Our office will once again host a booth at the fair with information for buyers and sellers and market exposure for our listings.

So don't miss the celebration. It starts Tuesday, August 12th and runs through Sunday, August 17th. The weather's going to be great so plan on coming every day - there's no admission at the Steele County Free Fair!