KricketandMike.com Inc Newsletter

Twin Cities Real Estate Source

April 2011

Greetings!

Hello again! I hope everyone had a good Easter and Passover. I'll give a shout out for Earth Day, too.

With the long winter, the Spring Real Estate Market has been a bit slow in taking off. The sluggish economy and unemployment levels continue to have their effect, as well. However, there are also some positive signs on the horizon. The large over-supply of properties on the market that has been a hallmark of our troubled real estate market appears to be changing. In March, 'inventory levels shrunk by 4.5% to 24,112 units - the lowest March inventory count since 2005'. If this trend continues, it should help to stabilize prices and restore balance to the market.

Believe it or not, we are hearing more and more Realtors remark that we are now seeing a shortage of good properties available in most price points over $200,000. By 'good properties' we are referring to traditional sales (non-foreclosure or short-sales) of homes that are updated and in good condition, and are properly priced. Traditional home sellers that have done a good job of maintaining and updating their homes, and are realistic about price, should actually consider this a good time to enter the market. I believe that this is one of the reasons we are currently seeing lower sales figures in the traditional market. Our own buyers have been echoing this belief.

On the other hand, foreclosure and short sales continue to dominate a large segment of the market. According to Brad Fisher, President of the Minneapolis Area Association of Realtors, "Foreclosure sales accounted for roughly 40% of pending and 43% of closing", in March. This constitutes a 31.3% jump in pending sales and a 29.9% jump in closed sales from last March. Although foreclosures and short sales continue to be popular with buyers, they can also be problematic for a host of reasons. It is very important for a buyer to have an experienced Realtor working directly for them in this process. Kricket and I would be happy to speak with you more about this subject if you'd like to give us a call.

For more statistical information on this subject, check out the following link:

More Information:

Sincerely,

Mike Opheim
KricketandMike.com Inc

Early Spring Gardening in Minnesota

Tips for Starting Your Garden

Many gardeners are anxious to get started in their gardens as early in the season as possible. However, it is often difficult to determine the best time to start planting, as the weather conditions fluctuate year-to-year in northern climates. If seedlings are planted too early, the risk of a killing frost should be considered, and seeds will not germinate properly if planted too early, before the soil temperature is warm enough. Yet, you do want to take advantage of as much of the growing season as possible.

In the state of Minnesota, the average date of the last frost is May 15, but the risk of a killing frost exists for as late at June 15. A general rule of thumb is that you should not transfer warm weather seedlings such as tomato and pepper plants, until after Memorial Day. Even then, you will want to keep an eye on weather reports and be prepared to cover seedlings with plastic domes made from recycled pop bottles, or some other protective cover, in the event that temperatures fall below 32 degrees.

To Read More...

Current Market Information

Statistics From Minneapolis Association of Realtors

Market Activity For Your City:

Weekly Report:

Foreclosure Report:

Monthly Market Indicators:

New Price

5636 Sanibel Drive

5636 Sanibel - front pic

This town home is located in the Beachside development in Minnetonka. The proximity to trails, parks, major roads can't be beat. The open floor plan, cathedral ceilings in the living room, and large, lofted family room make this a very unique layout for a townhouse. With just a few updates, this home will be transformed. Someone is going to get an amazing price if they're willing to do just a little "fluffing and buffing". This is a real value for the neighborhood.

More Information:

Photo Tour:

Offer Price: $139,900

Mortgage Minute

Rita Welton, PHH Home Loans

PHH ranked #1 in service by

Twin Cities Real Estate Professionals

In a new study, "How Real Estate Agents Rate Loan Originators and Servicers," involved a survey of more than 2,200 real estate agents conducted by Campbell Communications in late January.* Real estate agent survey respondents were asked to rate the country's largest direct mortgage lenders on a number of performance measures. PHH,generally rated the highest by respondents in the survey.

Don't trust just any company with your home financing needs. Call a trusted name in the mortgage industry. I look forward to hearing from you soon!

*Conducted by: John Campbell, Campbell Surveys. Sponsored by: Inside Mortgage Finance Publications, Inc.

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

Lucky's 13 Pub

Kricket has been kind enough to let me take over her "Korner" for this month's restaurant review. I do not claim to have Kricket's sophisticated palette, but I do love food! I am occasionally lucky enough to get to eat some of the wonderful food Kricket and her husband, Aakash, make in their own home. When it comes to eating out, I am especially fond of great bar food and big, two-fisted sandwiches! Recently, I have been 'lucky' enough to have finally discovered Lucky's 13 Pub .

Lucky's has two locations; the original is located in Mendota along Hwy 13, above the Minnesota River bluff, and the newest location is in Bloomington off of Highway 494 east of the Penn Ave exit . Both are easy enough to reach, but parking is almost always at a premium, and you may circle around a bit looking for a spot. You'll be happy you made the effort, though!

Lucky's first opened it's doors in Mendota in 2007. As their website advertises," Lucky's combines music, sports, nightly promos & specials with an extensive Americana menu.... warmth and good energy fill the restaurant day & night!" It is a great atmosphere for meeting friends and family, or getting together with a group. It does get pretty loud, though. So I wouldn't recommend it as a great place for a first date. However, 'old couples' and anyone else might have fun with their bingo nights, and both locations have live music on the weekends.

Although the atmosphere is fun, it's all about the food for me! First of all, you have to love a bar/restaurant that serves free popcorn and peanuts in the shell. But Lucky's is best known for it's hand carved sandwiches, cooked fresh daily on their churrascarria grill. I have had their Rueben and Philly Cheesesteak sandwiches. The Philly was very good, but the Rueben was probably the best I have ever had. The corned beef absolutely melts in your mouth. I have also tried the Hickory burger, and I can assure you they keep the quality high here, as well. There are many great sounding burgers and sandwiches to choose from, and I am looking forward to checking more of them out. They also have a great assortment of appetizers, including their signature 'handmade tater tots', which should not be missed! Many bar/restaurants have menus that look like carbon copies of one another. Not true with Lucky's. The menu here is full of surprises and new takes on traditional bar food.