(Video) Fall Colors in Medina, MN – Driving Tour of Medina Road

The colors have been truly spectacular in Medina, MN this fall.  This is the first of a few videos I’ll post over the next few days of the view along Medina Road which is a spectacular location in Medina.  It’s some of the most beautiful countryside in the Twin Cities.  It’s unlikely that my little Flip Video really captures the scene, but hopefully you’ll get some sense of the beauty.  This clip shows Medina Road heading west in the morning from Hunter Drive to Tamarack Drive Enjoy!

Twin Cities Metro by Household Type, Size and Home Ownership Rates

Craig Kamman has an excellent post on his blog with lots of details about Twin Cities household types, the sizes of households today as well as home ownership rates.

The main points are households, in general, are getting a little smaller.  Home ownership rates continue to decline.  No surprise there given the housing market crash and the state of the economy.

Commuting to Minneapolis from Plymouth and Medina: Highway 55 and Northwest Blvd. Intersection

Here is part 4 of my 4 part series on commuting to downtown Minneapolis from Plymouth and Medina along Highway 55.  This 90 second clips is from the Highway 55 and Northwest Blvd/Xenium Lane intersection.  Traffic seems lighter than normal.  Northwest Blvd. is generally very crowded and people use that route to head south from the northern end of Plymouth.  They drive to Highway 55 as it’s a great feeder to Highways 169 or 100 or to take it straight in to downtown Minneapolis.  In the morning the lights are timed to allow traffic to move quickly.  At some point around 8:30 or 9am the timing of the lights are changed to allow more traffic to cross Highway 55 rather than continue to travel along Highway 55.  This just reflects the change in drivers on the roads at that hour.  By then the commute is over and the roads are being used by people driving to and from the various shopping areas.

Part 1: Highway 55 and County Road 101

Part 2: Highway 55 and Vicksburg Lane

Part 3: Highway 55 and Fernbrook Lane

Wild Meadows South – Average Home Sales Prices 2002 – 2011

Wild Meadows South Monument

Wild Meadows South Monument

Medina, MN is home to many very nice neighborhoods including Bridgewater, Foxberry Farms, Tuckborough, Northridge Farms and the luxury town homes at Medina Highlands.  But Wild Meadows is truly the premier luxury neighborhood located in Medina, MN which is in the northwest suburbs of Minneapolis.  The neighborhood consists of a north end and a south end.  The south end was mostly built out between 2002-2009 with the bulk of the custom homes built between 2003-2007.  For the most part, the south end consists of homes priced under $1.5 million although there were a few that sold for more than that when they were built.  The north end has larger lots and is even more exclusive.  The homes were built for $1.5 million to approximately $4 million.  These two neighborhoods, while both called Wild Meadows, really are broken up in to a north and a south end.  The luxury development is in the high demand Wayzata School District.

Below is a chart that graphs the average prices for homes sold in Wild Meadows South from 2002-2010.  There have been no closed sales reported so far this year in 2011.  All data has been pulled from the NorthstarMLS which is the system we use in the Twin Cities metro area.  Most of these homes are all highly customized so it can be a challenge to compare one to another for an exact comparison.

(Click on image to enlarge)

Wild Meadows South Average Home Prices Medina MN

Wild Meadows South Average Home Prices

Other key sites: Search Medina Homes for Sale and see the year to date (through August 2011)  home sales data for the city of Medina, MN.

Providence Academy 10th Anniversary Celebration Homecoming 2011 Fireworks Display

Congratulations to Providence Academy for 10 years of excellence!  Last night was the homecoming game against DeLaSalle.  During half time they had a terrific fireworks display.

Builders Association of the Twin Cities Hot Sheet – September 2011

The BATC is out with it’s latest hot sheet for the month of September.  As BATC president, and co-owner of Imperial Homes, Rich Riemersma is quoted as saying, “the regional residential housing industry has remained in a holding pattern for almost three years, but we continue to see promising signs.”  There are pockets where business is doing well, but there is still definitely a cautious tone for the builders.

MnDOT Confiscated My Real Estate Open House Sign and Threw It in the Garbage

First off, I broke the law.  Fortunately, I can still write this blog entry so I’m not behind bars in jail.  In the big scheme of things, the fact that MnDOT confiscated my open house sign that I mistakenly put on their right-of-way along Highway 55 in Plymouth, MN, isn’t a big deal.  However, it seems a little wasteful that they just throw the sign in the trash and do not allow me to go pick it up.

MnDOT confiscated my open house sign

Yes, I know many of you out there are saying I got exactly what I deserved.  Perhaps I did.  I’m just wondering  if there isn’t a better way to handle this.  Since it’s the State of Minnesota and the Department of Transportation (MnDOT) there’s not a chance this will be considered.  There is no room for discretion or judgment.  It’s one size fits all. Sorry. Have a nice day.  We can’t discriminate even with private property.  Your stuff is on our road….doesn’t matter how valuable it is…it’s ours and it’s going in the trash – and no, you can’t come get it.

Over the past several years, various cities in the Twin Cities metro have instituted new sign ordinances.  For example, in the City of Minnetonka, I don’t think you ever want to put up an open house sign any where except perhaps on your property.  Something happened to me one time in Eden Prairie and I recall having to go and pick up my sign.  At least in Eden Prairie, the city workers there just threw all the signs in to a big pile and I could go fish it out of there.  With MnDOT…not a chance. They threw it in the dumpster and for liability reasons they will not let me get it out of there according to Rich, one of the supervisors for the MnDOT shop overseeing the Plymouth, MN roads.  (In case you ever need to reach that specific MnDOT location, the phone number is 952-476-3260).

Wouldn’t it be possible for MnDOT to set aside signs for a while before they threw them away?  I can understand throwing away many of the bandit signs that litter the roadways.  Those signs are generally $2-3 each.  But real estate open house signs are often $50-$75.  In my case, my sign cost $60.  If MnDOT doesn’t want to be that customer friendly, why don’t they then charge a fine to get your sign back?  They could turn this in to a profit center.  I would have gladly paid $10 or $20 to get my sign back.  But no, they just chuck ‘em in the trash.  Bandit signs, home-made signs, open house signs…it’s all the same to them.

It’s policies like this, and thousands of other decisions the State, counties and cities makes that cause people to build animosity toward the government regulators, bureaucrats and various departments that just don’t seem to have much for common sense and decency.

New Home Construction in Plymouth Bucks National Trend | KSTP TV – Minneapolis and St. Paul

While much of the news about new construction and new home sales has been dreadful this year, the northwestern suburbs of Minneapolis have been a shining light. Specifically, the new developments being built in northwest Plymouth are quite remarkable. Twin Cities KSTP did a story on the build out of northwest Plymouth.

For more information about the new construction in northwest Plymouth, be sure to visit my new blog by that very name: Northwest Plymouth.

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John Murphy’s Commentary on Case-Shiller Index: Minneapolis Area Home Prices

Case-Shiller Index: Seasonal Improvement, Minneapolis Declined by 9.1% Year over Year

The latest Case-Shiller Index was just published with data through July 2011.  The report does show seasonal improvements as should have been expected because this is during the peak home buying season.  The Minneapolis area also showed some improvement although home prices are down 9.1% year over year.

Calculated Risk has some excellent analysis and charts.

Below are charts from the Case-Shiller press release.  The chart below is the annualized return for the 10-city and 20-city composite index.  Overall, it’s currently tracking down about 4% year over year.

(Click on any of the images to enlarge)

Case-Shiller Index Chart of Annual Returns through July 2011

 

 

 

 

 

 

 

 

Chart below shows the short term price changes (May/June, and June/July)

Case-Shiller Index 20 City Data Table May - July 2011

 

 

 

 

 

 

 

 

 

Table below shows the annualized returns:

Case-Shiller Index 20 City Data Table through July 2011

 

 

 

 

 

 

 

 

To see how your particular city is doing in the Twin Cities metro, it’s probably best if you check our the reports published by the Minneapolis Area Association of Realtors.  You can check them out here.