Twin Cities Real Estate Market Report – Week of May 19, 2008 – Listing Inventory Lower for Second Consecutive Week

The Minneapolis Area Association of Realtors released its latest weekly report just minutes ago and overall listing inventory across the Twin Cities metro is down for the second consecutive week. They are also reporting that pending sales activity trailed last year by only 5.3% for the week. If the pending sales trend continues along with the decline in over inventory for sale, this ship might well be on its way to improving.

Once the market turns, I am not expecting a rapid rise in pending sales but rather a slow steady climb out of the basement that has been 2008.  It seems very unlikely to show the kind of activity demonstrated in Southern California recently….see post below.

Southern California Real Estate Sales Surge in March 2008 – DataQuick

DataQuick is reporting that Southern California sales surged nearly 22% from February 2008 but were still down 19% compared to 2007.  This is very positive news coming out of SoCal as their sales had been running 40-50% behind.  Southern California, along with parts of Florida, were some of the hardest hit areas during this real estate downturn….it is a downturn here in Minnesota, but could be considered a crash is other places.

Many of the homes being purchased are bank owned properties or in some state of foreclosure.  This is great news to see because it shows that investors are out and they believe the time to strike is now.  It’s my opinion that despite the very difficult market in Southern California, they will likely turn around there sooner and faster than we will here in Minnesota.  It will be an important market to watch.  Trends happen first in California.

6281 Rhoades Avenue SW, Cokato, MN – Offered at $549,900

Incredible Manley Construction custom built luxury home in the country on a beautiful 5.5 acre lot just outside of Cokato, MN. This property is about 45 minutes west of the Twin Cities suburbs on Highway 12 and it’s 20 minutes from Hutchinson, MN.

6281 Rhoades Ave SW Cokato Front 800x532

With 4 bedrooms, 4 baths and 3748 total finished square feet, this is a wonderful family home! This home has a very functional open floor plan which is great for everyday living and entertaining! The gourmet kitchen, complete with center island, Cambria countertops, lighted hanging pot rack, 35 bottle built-in wine rack and beveled glass cabinets, overlooks the two story great room as well as the large kitchen nook. Access the screened porch as well with its plexi glass panels allowing it to be used for nearly nine months of the year.

The main floor has a wonderful office and large dining room. The pictures below detail some of the beautiful custom built-ins found in this home’s great room. Also inlcuded in the price of this home is over $30,000 worth of electronics and security systems generally found in $1 million dollar homes in the Twin Cities western suburbs.

The current owner had this home built in 2004 and they didn’t miss any details. Nearly every bedroom upstairs is it’s own suite. They are big bedooms and there are three bathrooms upstairs.

There is a beautiful mix of hardwoods and enameling throughout the home. The trim and doors are enameled and there is beautiful natural wood found in some of the cabinetry and hardwood floors.

For those really looking for a sense of country, the owners had a state of the art chicken coop built in the back of the lot It’s even wired for monitoring by video!

An asphalt driveway will be installed by July 1st and has been delayed due to road resistrictions with the late spring this year. A new roof was just installed one month ago. Click on this link – 6281 Rhoades Avenue SW, Cokato, MN Home Features and Specs for a four page PDF document that lists this homes features.

If you’re looking for quality and sophistication that is found in the best homes in the Twin Cities, but you’d like a country setting, this is a terrific option for your consideration. Please contact me for a private showing.

Don’t miss the Video Tour!

Google Map of 6281 Rhoades Avenue SW, Cokato, MN.

Here’s the listing on Edina Realty.

6281 Rhoades Ave SW Cokato Great Room view 26281 Rhoades Ave SW Cokato Kitchen6281 Rhoades Ave SW Cokato Kitchen and Great Room

6281 Rhoades Ave SW Cokato Great Room6281 Rhoades Ave SW Cokato Dining Room6281 Rhoades Ave SW Cokato Screened Porch

6281 Rhoades Ave SW Cokato Master Bedroom6281 Rhoades Ave SW Cokato Master Bath6281 Rhoades Ave SW Cokato Back of Home
For a little fun, this home comes with a State of the Art chicken coop. It was custom built with the exterior matching the house. The interior has an open storage area above with built-in ladder for access, an electric outlet inside, an electric outlet outside, two interior lights, one exterior light (which also has a switch in the mudroom), a potting bench/workbench, RJ-45 cable connected to the network (in case you want to install web cams to watch your chickens), nesting boxes for 16 chickens, small chicken run door to outside with rope-pull system, chicken roosting rack with rope-pull system for cleaning, all floor panels are green-treated wood, glass block on west side for natural lighting, matching window box under glass block, 4-way barn doors on front, standard insulated steel door on side, and it’s raised off the ground on steel rails. Chickens never had it so good…

6281 Rhoades Ave. SW, Cokato, MN Chicken Coop Front6281 Rhoades Ave. SW, Cokato, MN Chicken Coop - Interior 6281 Rhoades Ave. SW, Cokato, MN Chicken Coop Interior #2