KricketandMike.com Inc Newsletter

Twin Cities Real Estate Source

February 2011

Greetings!

This is the time of year that we as Realtors receive the comprehensive real estate statistics for the previous year. If you are on our mailing list you know that we share them with you as well. We typically send you the average sales price data broken out by each city in the metro area. It allows you to look at year over year prices for the city you live in. You can look at Edina for example and compare appreciation or depreciation from 2006 through 2010.

We will continue to mail you this information but we have also included it as a link. The full report contains more data than you likely care to look at. If you want to skip to the historical sales data for your specific neighborhood, scroll down to pages 14 and 15.

If you look through the entire report you will see some sobering statistics. For example, our peak median price came in 2006 and it was $230,000. It seemingly bottomed out in 2009 at $166,000 and finished in 2010 at $169,900. Our 2010 average sales price of $211,186 is reminiscent of 2001 average sales prices. Wow, the bubble did burst but it appears that we hopefully found the bottom in 2009. I'm sure you've heard; it's a great time to buy a home.

2010 Real Estate Report

Please call us if you have specific questions about your home.

Sincerely,

Kricket & MIke Opheim
KricketandMike.com Inc

Architecture Coach: What's Hot, Hip and Happening in Home Design

These design trends have either already arrived in your town or are on their way

By Barbara Ballinger, December 2010

Get ready for the hot trends that are captivating the construction and design industries. Some represent big changes, such as the smaller.......

To Read more

Current Market Information

Statistics From Minneapolis Association of Realtors

Weekly Update:

Foreclosure Report:

Monthly Market Indicators:

Now Available

5411 Pompano Drive, Minnetonka

5411 Pompano front

One of the largest models in the Beachside Townhome development. This two bedroom plus loft has formal dining, cathedral ceilings, two sliding doors to a private fenced in patio and an enviable master suite.

More Information:

Virtual Tour:

Offer Price: $224,900

Mortgage Minute

Rita Welton, PHH Home Loans

TAX TIME TIPS

If you purchased a home in 2010, don't forget to take advantage of the deductions the IRS will allow. Here are a few reminders. Be sure to check with your tax professional for additional deductions.

Points: According to the IRS, origination fees charged as points must be paid for the use of money, (for example, to obtain a lower interest rate) in order to be tax deductible.

Origination fees that constitute a "service fee" are not tax deductible. The question must be asked, "Does the fee apply to the use of money, or is it a service charge?"

Pro-rated real estate taxes: Even if the seller sent the tax collector the check, chances are you paid a pre-rated portion of the taxes for the year at closing. Be sure to deduct your fair share.

Pro-rated mortgage interest: Depending on when in the month you closed; you either paid a hefty or a tiny amount of pro-rated mortgage interest for that month. Big or small, you can write that off. The final closing/settlement statement will show how much you are due.

Are you thinking about buying a home this year?

Call me today to start your pre-approval!

Rita Welton

Loan Officer, NMLS#341309

612-925-8423 direct

Rita.Welton@PhhOnline.com

This statement of current rates is not an offer to enter into an agreement for a loan at a specified interest rate or number of discount points or both. (In Minnesota: an offer to enter into such an agreement may only be made pursuant to Minnesota statutes section 47.206.) Current interest rates and discount points are subject to change at any time without notice to you.

Kricket's Korner

Blackbird Cafe

Small neighborhood cafes are among my favorite places to eat, and Blackbird in Southwest Minneapolis is no exception. It had been a popular spot at 50^th and Bryant for several years but they were a part of the big fire that destroyed Heidi's and Patina about a year ago. Fortunately they rebuilt and have opened in a new location at 38^th and Nicollet.

Blackbird is what you might expect from a corner restaurant - small (seats 75), approachable, unique menu and friendly service. They specialize in a kicked up version of comfort food and source many ingredients from local farmers, adjust the menu to compliment the seasons, and prepare everything "home-made". They also keep several sacred items on the menu to keep the regulars happy.

I went for lunch and believe Blackbird is a great lunch spot. They have an eclectic assortment of sandwiches from shrimp roll, Banh mi, beef-brisket or vegetarian choice.

Blackbird appears to be a wonderful dinner destination as well. There are some interesting small plate options such as lamb nachos and crispy duck rolls. There are also several traditional dinner entrees including sea scallops and London broil and not so traditional one such as spicy peanut noodles with your choice of protein.

I really enjoy the beer and wine selection at Blackbird. The wine list is very approachable with wines at a price point that most people would appreciate. Additionally, the beer selection is oriented towards flavor and not big branding.

I haven't tried them for breakfast yet, but they serve it on Saturday and Sunday from 8-2. The menu looks tasty and I'm looking forward to trying them for breakfast soon.