Twin Cities Market Activity Report - WE 2/8

Twin Cities Market Activity Report - WE 2/8

provided by MAAR

As winter continues its streak of cold and snow, sales activity in the Twin Cities housing market is moving along at a pace you'd expect for the season and at about the same pace as a year ago. Pending sales for the week ending January 30 came in at 650, down very slightly from the mark of 673 seen during the same week last year. Over the last three months, there have been 7,038 signed purchase agreements, up a sliver-sized 0.7 percent from a year ago.

Despite the tax credit being made available to current homeowners, new listing activity has yet to show any noticeable jump. The 1,584 new listings for the most recent reporting week represent a dip of 3.1 percent from a year ago. Total inventory of available homes is still down from last year by 16.5 percent.

In related news, Days on Market Until Sale is still dropping while the Percent of Original List Price Received at Sale is still growing. While that's good news on both fronts for home sellers in general, different price points and neighborhoods are experiencing dramatically different market conditions.

For more specific information regarding the Elk River, Big Lake, Ramsey, Rogers or NW Metro areas please contact me or visit ChadElliot.com

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Market Activity Report - WE 2/1

Twin Cities Market Activity Report - WE 2/1
provided by MAAR

The January 2010 Twin Cities housing market has shaped up to be nearly identical to January 2009.

-Pending sales are down slightly from a year ago, but not by much.
-New listings are down slightly from a year ago, but not much.
-Inventory is rising slowly, but not much.
After the roller coaster ride the local market has experienced over the last four years, perhaps "not by much" is a welcome respite.
-There were 558 signed purchase agreements for the week ending January 23, down 2.3 percent from a year ago.
-New listings posted 1,522 units, down 0.6 percent from a year ago.
-The current inventory of active listings is 20,629, down 17.5 percent from a year ago.

The February 2010 Supply-Demand Ratio sits at 6.99, which means there are 6.99 homes available for each buyer. That's a drop of 8.5 percent from a year ago and the lowest February mark since 2006.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Saint Paul's 44th Annual St. Patrick's Day Parade

Come join the crazy fun that is Saint Paul's St. Patrick's Day Parade! This has become a tradition that is a "must" attend in the Twin Cities. The 44th Annual St. Patrick's Day Parade
will be held at Noon on Wednesday March 17, 2010.

For more information on the parade click here

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Eagan Inflow & Infiltration Inspection Program

Eagan Implements Inflow and Infiltration Inspection Program

The City of Eagan will be implementing a mandatory Inflow and Infiltration inspection program beginning in February. Properties subject to the program are located in three districts that were identified as the major Inflow & Infiltration problem areas. Roughly 2,600 properties will be subject to these inspections which the city expects will be completed within one year.

The sewer service inspection itself will not have a cost to the property owner. However, if the inspection identifies any issues, a follow up "Corrective Work Order" will be sent to the property owner requiring repair to be completed within 60 days. If the property owner does not schedule an inspection upon receiving a letter from the city to do so, or if the property owner does not complete the necessary repairs within 60 days of receiving the Corrective Work Order, the property owner's utility bill will have a $150 surcharge per month of noncompliance until a Certificate of Compliance is issued by the City of Eagan.

In the case of noncompliance, the property owner will be responsible for paying for 50 percent of the corrective work in addition to the City Permit fee of $50.50. The City of Eagan will pay for the remaining 50 percent of the cost of repair. For property owners who need financing, the city will spread the cost of repair as a special assessment on the property tax for up to five years at 4 percent interest. MORE INFO

Source: Saint Paul Area Association of REALTORS®

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

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Whether you are living in Minneapolis, St. Paul, Elk River, Plymouth or anywhere in the Twin Cities metro I can find you the answers to your real estate questions. Get the latest on the Homeowners Tax Credit or get your home's current market value! I use facebook to interact with my clients and fans in real time - no question is too small to ask! Become a Fan!

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CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Henneping County Mortgage Foreclosure Workshops

Mortgage Foreclosure Workshop Schedule - 2010

A new series of Foreclosure Information Workshops have been scheduled for the first quarter of 2010.

These workshops are presented in a collaborative effort between the the Taxpayer Services Department of Hennepin County and the Minnesota Home Ownership Center.

Saturday, January 30th, 2010 10:00 a.m.
Central Library, Doty Board Room (2nd Floor)
Nicollet Mall, Minneapolis 612-630-6000

Tuesday, February 16th, 2010 6:30 p.m.
Rockford Road Library
6401 42nd Ave. N, Crystal 952-847-5875

Tuesday, March 23, 2010 6:30 p.m.
7100 Nicollet Ave., Richfield 952-847-5300

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com