Foxberry Farms Homes For Sale – Medina, MN

If you’re looking for homes for sale in Foxberry Farms, like the Wild Meadows home search mentioned here, I have set up a free subscription service so you can get access to the listings as soon as Realtors do.  This is helpful particularly if you want to stay on top of the market for this upper bracket neighborhood.

By subscribing to www.FoxberryFarmsHomes.com, you will be able to see not only when new listings come on the market, but you’ll also get the various status changes…i.e. price changes, pendings, solds, expireds etc.

Twin Cities Real Estate Market Activity – Week Ending September 27, 2008 – Sales Explode!


The Minneapolis Area Association of Realtors just released the latest sales report.  It’s astounding to be sure.   It will be interesting to see how the numbers come in next week based upon the financial collapse we’re seeing on Wall Street this week.

The September sales party continued for the week ending September 27, as pending sales jumped by a whopping 58.4 percent from 2007. The extravagant nature of these sales increases will not likely continue through the fall, given the current economic uncertainties and an expected downward trend in consumer confidence. New listings also increased for the same time period, bumping up 9.9 percent from the same week last year—the first year-over-year increase in new listings since early July. Total inventory remains significantly down; there are roughly 3,000 fewer homes for sale now than at this time in 2007.

This week’s edition of the MAAR Weekly Market Activity Report features updated figures for several important metrics. The Supply-Demand Ratio (SDR)—a measurement of the number of homes for sale for each buyer—stood at 9.79 for October, down slightly from last October. The Percent of Original List Price Received at Sale dipped slightly to 92.2 percent in September, while the Average Days on Market Until Sale increased to 145, up 2.7 percent from last September.

Wild Meadows Homes For Sale – Medina, MN

If you’re looking for homes for sale in Wild Meadows, I have set up a free subscription service so you can get access to the listings as soon as Realtors do.  This is helpful particularly if you want to stay on top of the market for this upper bracket neighborhood.

By subscribing to the Wild Meadows Home Info list, you will be able to see not only when new listings come on the market, but you’ll also get the various status changes…i.e. price changes, pendings, solds, expireds etc.

Just go to www.WildMeadowsHomeInfo.com

Plymouth Home – Sold for $960,000 in 2007 – Now For Sale Under $620,000

How can this happen?  I was reviewing the distress sales in Plymouth today and one of them in particular caught my attention.

The home was built and purchased in mid-2007 for $960,000.  However, it is now either owned or is a short sale with Countrywide.  The current asking price is under $620,000 for a home with nearly 3200 finished square feet on the main two levels.
I am familiar with this small development in Plymouth.  There are 7-8 newly constructed homes in the cul-de-sac and it’s in the Wayzata School District.  This home is being offered at a massive discount provided there aren’t significant things wrong with it.

Bank Owned

Plymouth, MN – 33% of All Distress Sales Are Short Sales

I just ran my MLS Distress search for Plymouth this morning and there were 65 properties for sale that came up in my search.   It has been running between 60-66 actives over the past several weeks.  (Note: I also ran the foreclosure search on Edina Realty and only came up with 20 homes.  If you’re relying on the big search sites instead of  getting information culled from the MLS from an agent who knows how to pull the information, you are missing out on 2/3rds of the distress sales).
The breakdown in single family vs. townhome vs. condos is as follows:

34 single family homes

26 townhomes

5 condos

Of the 34 single family homes for sale that meet my distress criteria, 11 of those are short sales.

Clearly there are opportunity with short sales, but if you are not familiar with them, you’re going to want to work with someone who does have experience with them.

As is always the case, if you want the list I’m referring to in this post, please call or e-mail me and I will send it to you.

Short Sale

Brokerage Asks Sellers to All Drop Asking Price by 10%

Coldwell Banker has asked their sellers to drop home prices by 10% for the next 10 days to try to spur home sales.   I believe it’s a great idea, but shouldn’t be limited to just 10 days.

In most parts of the country, including the Twin Cities, asking prices are still unrealistic and must come down in order to generate more sales.