Greetings!
 We finally made it to spring. The snow is melting, days are longer and the real estate market is heating up - in a different sort of way.
We have preached for years that real estate is very local. Yes, we are in a tough economy, have our fair share of foreclosures, and home values have slipped for the first time in our lifetime. But, markets are cyclical so let's take a look at what has been going on.
 The "buyers market" is based upon a supply and demand equation. To understand the market we need to look at how that equation is changing. The supply of homes for sale hit a high point in July of 2007; 35,132 active listings. That inventory of homes has been falling ever since - currently 25,901 homes.
Another measure of activity is pended sales (sold but waiting to close). This number, year over year, has been "up" since last July (except one week in Nov 2008). This means, more people are buying homes from a year ago and there are fewer homes for sale.
Could this be the start of a recovery? Maybe. While there is a lot more information to look at, the short take away is that homes are selling and supply continues to fall. Average home prices should level off and eventually rise. It may be hard to believe but someday "sellers" will be back in the drivers seat.
As always, we are happy to talk more specifically about your real estate needs. Call or email anytime.
Best,
Kricket & Mike Opheim
KricketandMike.com Inc
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"Green Ideas" For Landscaping and Decks
Vast Enterprises LLC, Minneapolis Minnesota
I've recently learned about a new product that I personally think is pretty neat. We are hearing more and more about "green" building, "LEED" certification, ways to improve our environment and ways to use our resources more efficiently. Well, we have a company right here in Minneapolis that makes composite pavers for decks and landscaping uses. Why is this cool? Well, first of all the pavers are made from 95% recycled materials (things like old tires and plastic bottles). Second, the decks, patios and driveways can be recycled after being used. Third, the permeable pavers can greatly reduce water run-off. The product is called VAST. My favorite statistic regarding the VAST product is that for every 1000 square feet of VAST pavers used; 500 scrap tires and 15,000 plastic bottles are saved from the landfill.
To learn more....
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Current Market Information
Weekly statistics from Minneapolis Association of Realtors
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| Featured Listing
17959 Evener Way, Eden Prairie
This south facing townhome overlooks a spectacular wildlife area. The end unit offers additional privacy, a nice patio for summer grilling, vaulted ceilings and clean neutral decor. All of this in a secluded Eden Prairie setting. 2BR/2BA $174,900
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| Featured Listing
4100 Vernon Avenue, unit 108, St. Louis Park
Brookside Lofts were developed in a converted school - originally built in the 20's. This 2BR/2BA condo has expansive ceilings, 8' windows, loft character with exposed spiral duct work and warmth with the hardwood floors. This home has a very unique two level design with a back enterance leading directly into the heated garage. $299,900
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Mortgage Minute
News from Rita Welton, Burnet Home Loans
Why is an FHA Mortgage a Great Program?
- Minimum down payment - 3.5%
- Sellers can pay the "allowable" closing costs
- Lower credit scores (as low as 620) are acceptable
- Mortgage amounts as high as $365,000 for single family homes
Please call or email for a current rate quote
952-844-6850 - office direct
952-334-4794 - mobile
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| Kricket's Social Korner
Restaurant Suggestions
This month's restaurant suggestion is one of my favorite sandwich shops; Be'wiched. This is not "just a sandwich joint" it is a gourmet sandwich shop. The owners would call it "chef driven".
I really enjoy the simplicity of the atmosphere paired with unique and very tasty soups, sandwiches and salads. There is always someone behind the counter that is able to do a wine or beer pairing with your sandwich choice. I LOVE that! My personal favorite is the smoked turkey with bacon, dates and goat cheese. Yum!
Be'wiched is located in the North Loop of Minneapolis on 8th and Washington Avenue. They are in a cool old warehouse building just above street level. There is parking on Washington Avenue and there are a few spots on the side of the building. Their hours are somewhat limited so be sure to check the web site. I recommend giving them a try. | |
| KricketandMike.com
Coldwell Banker Burnet
3033 Excelsior Boulevard Minneapolis, Minnesota 55416
612-920-5605 - office
612- 802-5502 - mobile Kricket
952-270-2079 - mobile Mike
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