Monday, July 28, 2008

With No Nehemiah or Genesis for Homebuyers, What will Cause the First Domino to Fall?


Most people understand the concept of the domino effect on the real estate market. The starter homes must sell first so the owners of the starter home can move up to the next price level, which allows another home to sell and another; much like a child’s game of dominos.

Fortunately the real estate market has had continued to have a reasonable pool of first time buyers in the mix these past few months due to low interest rates, home prices and unique assistance programs. Early this year, the government gave the controversial but beneficial programs like Nehemiah and Genesis a reprieve. These seller funded non-profit organizations had been scheduled to be disbanded early in the year but were allowed to continue to fund first time buyers. These programs give buyers down payment assistance for FHA loans that require a 3% down. With additional assistance from the seller for closing costs, a first time buyer with a good job and credit score, is able to purchase a home without having to save up for a down payment.

The reprieve may be over. This weekend I read an alarming
news release from a Minnesota mortgage broker pointing out how the Mortgage Bailout Bill could slow the recovery of the real estate market. The senate version of the new mortgage bail out bill will put a stop to all programs offering down payment assistance. They will in essence remove the finger that starts the first domino to fall. First time buyers will again be required to save up for that down payment. With prices increasing everywhere from the corner grocery to the gas station down the street, it will be a daunting task to become a first time homebuyer.

I expect that like in the 1980’s and earlier, young people will start saving again for that first home as soon as they graduate either high school or college. But back in the decades of big hair, 8-tracks and parachute pants, homes were priced more reasonably. It was much easier to save up 3% of $60,000 ($2,000) for normal Minnesota starter home in 80's than it will be to save 3% of a $200,000 ($6000) for a starter home at today’s prices.

So whose finger will give the push that starts the domino’s chain reaction in today’s real estate market? Loans funded by the Veterans Administration? That is one possibility. VA loans have always been available to those who have served in the armed services as a way to homeownership with little or nothing down. It is a very good program that I anticipate we will be seeing more service men and women taking advantage of in the future. But those who have not served will be forced to save.

Bottom line is the mortgage bailout will save some homeowners from losing their homes but at what cost? Will it delay the recovery of the real estate market? Only time will tell.


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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.


Copyright 2008 terieckholm.com

Saturday, July 26, 2008

Coon Rapids, MN Real Estate Market Statistics Mid-Year 2008

In spite of the real estate slow down Coon Rapids continues to evolve as it has for over 150 years. It has changed from the community’s humble beginnings of a dirt road farm community to the 9th largest city and 5th largest suburb in the state of Minnesota. The affects of the real estate market change on Coon Rapids is tempered by its convenient location to downtown Minneapolis and its easy access to Interstate 35, Hwy 65 and Hwy 47/10 for a commute to a lakeside cabin. Coon Rapids is a community with something for everyone: encompassing 23 square miles it boasts several neighborhood and regional parks, indoor and outdoor ice skating rinks, softball and baseball fields, tennis courts, hiking and biking trails, swimming pools, a golf course, and two major regional shopping developments.

Like its neighbors Blaine and Andover, the residential real estate construction boom in Coon Rapids during the past decade has slowed but not stopped making new and existing home purchase opportunities very affordable. Conveniently between Anoka and Blaine, it is connected by Highway 10 just north of the Twin Cities, Coon Rapids is an attractive location for both business and residential development. The entire community of Coon Rapids is served by one school district; Anoka Hennepin District #11.

Real estate in Coon Rapids, MN in Anoka County is affordable and selling—though admittedly at a slower pace than most sellers would like. In the first six months of 2008, numbers show single family homes are staying on the market an average of 143 cumulative days or just under 5 months. But when broken down to single family homes versus townhomes/ condos, the single family homes have a 127 average CDOM while townhomes/condos are taking nearly two months longer with a 180 CDOM.

Cumulatively inventory levels of single family homes in Coon Rapids are selling in a reasonable timeframe and approximately 9-10 months of inventory. Inventory levels for homes under $200,000 are a much more manageable 7 months. While the total town homes and condos in all price ranges are struggling high inventory levels that won’t sell out for 18 months if no more properties are listed.

As Coon Rapids’ real estate is for the most part moderately priced, it should adjust to the changed market relatively quickly but its significant condo/townhome market will take time to recover as it continues to compete with new townhome developments in the neighboring communities such as Blaine.
1st Quarter Coon Rapids residential real estate statistics for single family homes:

Under $200,000~ 160 Active Listings, 15 Pending Listings, 131 Sold Listings, CDOM 115

$200,000-$300,000 ~ 126 Active Listings, 6 Pending Listings, 59 Sold Listings, CDOM 132

$300,000-$400,000 ~ 31 Active Listings, 1 Pending Listings, 15 Sold Listings, CDOM 210

$400,000 and up ~ 14 Active Listings, 0 Pending Listings, 3 Sold Listings, CDOM 190


1st Quarter Coon Rapids residential real estate statistics for townhomes and condos:

Under $200,000~ 207 Active Listings, 15 Pending Listings, 82 Sold Listings, CDOM 170

$200,000-$300,000 ~ 33 Active Listings, 2 Pending Listings, 7 Sold Listings, CDOM 296

$300,000-$400,000 ~, 6 Active Listings, 0 Pending Listings, 0 Sold Listings, CDOM N/A

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 6/30/08.


If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 terieckholm.com

Monday, July 21, 2008

Toxic Waste in Your Anoka County Basement or Garage? Get Rid of it Safely and for FREE!

At almost every home closing in Minnesota, there is a short time where closing representatives leave the room to make copies and print checks. During this time keys and garage door openers are passed to the new homeowners and the seller usually passes on quirky information about the house. Often one tidbit is “I left all the extra paint on the basement/garage shelf so you can touch up a few things.” Though buyers can be appreciative if the home was just repainted, others will consider this toxic waste.

Last week, my husband and I ventured into our own little toxic wasteland of cans stored under the basement steps to get a quart of clear coat sealer for our oak trim. We bought it four years ago when we built an addition and had a few boards to finish. We opened it and used it once. Now we were finishing the edge of some new windows in another room and the lid was sealed completely and permanently shut to the can! Time to head to Menard’s for a fresh can, but what do we do with the old one?

We decided it was time for a trip to the Anoka County Household Hazardous Waste Facility (HHW) in Blaine! It was surprising the amount of cans that had accumulated in the decade we have owned our Ham Lake home. Might as well clean it all out at one time.

The HHW is located at 3230 101st Ave NE in Blaine just west of the 35W and 95th Ave interchange and is open YEARROUND and is FREE to Anoka County Residents!

Summer Hours (April through October)

Wednesday 2PM-8PM
Friday 9PM-3PM
Saturday 9PM-3PM

Winter Hours (November through March)

Wednesday 2PM-8PM
Saturday 9PM-3PM
The HHW accepts more than paint too. Drop off any household product that is labeled “Corrosive”, “Flammable”,” Poison”, “Toxic” or “Warning”. This includes old drain cleaner and mothballs from the hall closet and the insecticides and weed killer in the garage. Mercury thermometers, pool chemicals and used motor oil are also accepted.


We took our truck full of basement and garage household toxins into the facility last Friday morning around 11AM. It is a quick, efficient service. We had only one car ahead of us in line. You drive into the facility and the service professionals remove the unwanted items from your vehicle. It took less than 10 minutes, though from the lines and cones around the building, I would guess that on a busy Saturday, the wait can be longer.

What a great feeling to have all of those unwanted and unusable products out of the house!


If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 terieckholm.com

Wednesday, July 16, 2008

Excellent Service Is Well Worth Additional Dollars When it’s Hot-Hot-HOT!


Looking for a discount with a Realtor or any other service professional? If you think that going for the lowest price is the best way to save money in a tough economy, I have a story for you. Good service has value…especially when it’s hot…hot…HOT!
It’s Hot and Humid in Minnesota today…Okay nothing like the heat in California or Arizona but heat near 90 with tropical dew points after our so far wimpy summer, the heat is noticeable. The heatwave is forecasted to stretch into the weekend!

Thankfully, I am comfortable in my lovely air conditioned Ham Lake home. We had suffered through a decade with a lemon of an a/c unit that had been installed by an inept builder. During that time found a wonderful HVAC service professional who kept our condenser running while on its last leg and our furnace in top notch condition.

So this spring when Connexus Energy offered rebates to homeowners installing Energy Star air conditioning into their homes, I immediately checked for John Harvey of Energy Mechanical in Anoka County on the list of preferred contractors. We had John price out a new system last summer as we knew that was going to be the last year we got by with duct tape and chicken wire holding the piece of junk together. On the Connexus website, there was the condenser but Energy Mechanical was not listed as a preferred service professional. Yikes that meant no $195 rebate!
“Hello John? It’s Teri Eckholm. We’ve decided to finally put that dying A/C unit out of its misery and by the new one you quoted.”

“Great!”

“But…I was at the Connexus Website and you are not listed.”

“I know…I used to be one of their preferred service people under the old program but the new program required additional classes and paperwork and I just haven’t had time.”

“John…It is a $195 rebate. I need you to look at the quote and get back to me. Would you check into the Connexus thing again?”

“Sure. I’ll call back after I look up your quote.”

A few days go by…No call from John. I thought about calling someone else that I could get a rebate from but I could not pick up the phone. John was the guy who showed up in an hour after we had waited for a return call for two weeks with our last guy. He was also the guy who came over on a bitter cold Friday in January at 10:00 p.m. when our furnace went out and didn’t charge an extra service fee. Rebate or no rebate…We knew John’s service was worth much more than $200!
“Hey John…This is Teri. Did you have a chance to look up the bid?”

“No…I thought you wanted someone who was working with Connexus.”

“Listen John, your service will weigh heavily into our decision. We have not forgotten that you came late at night on a cold night…That means a lot more to us than the rebate. Shoot us a bid so we can make a decision.”

We could have elected to call another HVAC professional and get the $195 rebate from Connexus. Or we could have had our friend do the unwarranted installation for the cost of the condenser. Nope…we waited. John sent us a bid that day. It was very reasonable and actually a bit less than quoted last year. Our new energy efficient air conditioner was installed within two weeks…Well before the heat and humidity of a Minnesota summer. We can also rest assured that Energy Mechanical will be there if there is a problem.

Some friends also had a brand new air conditioning condenser installed in their home the same week we did. They were gone for the Fourth of July and came home to a SAUNA…The a/c had failed and it was over 90 degrees in the house. Last night, I found out they are continuing to struggle with their new a/c unit and today it is miserably hot and humid. Their serviceman said, “Gee, I installed one just like it for the guy down the street a few years back and he never had any problems.” I don’t know what they paid or if a rebate was involved but good service is well worth the price.

As a Realtor, I am asked from time to time if I will discount my fees. I explain my program and why it cannot do my best work with a discounted rate…much in the same way that John explained his situation to me. My clients understand. They choose to work with me and refer me to their friends because of the service I provide…just like I appreciate John’s exceptional service. Sometimes it is not about the money…It is about the quality of service…Especially when it is Hot. Hot. HOT outside…Or Cold. Cold. COLD for that matter.
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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 terieckholm.com

Monday, July 14, 2008

5 GREAT Reasons Minnesota Townhomes Make an Easy Transition from Apartment Life!


The low interest rates and recent reports have many apartment dwellers considering making a first home purchase. House prices are making buying a very attractive option for many who want the investment potential and tax benefits that being a responsible homeowner can provide. But some on the fence might not like the idea of cutting the grass every summer weekend or shoveling a driveway before going to work on a Minnesota winter day. These fence dwellers should consider a townhome and dive into the market to receive the benefits of homeownership but retain some of the worry free aspects of apartment life!

Here are five reasons that a townhouse might be the perfect first home:



  1. No Yardwork! In most cases the association is responsible for all grass cutting, trash and snow removal.

  2. No Exterior Maintenance! Painting the siding and putting on a new roof are decisions made by the homeowners association. Exterior hazard insurance is covered by a policy for the entire association and paid for with monthly or annual association fees.

  3. Community Amenities. Want an inground pool? Like nature trails, walking paths and lakeshore living? Need a fitness center or large room to entertain in? Love the idea of living on a golf course? Amenities like these can be found in many northern Twin Cities townhome developments.

  4. Close Neighbors Provide Better Security! Complaints of that nosy neighbor disappear when they notice that something unusual is going on next door and thwart a robbery in progress. People in townhomes live in close proximity to one and other, like those in apartments. This closeness can provide comfort to those who like the idea of neighbors looking out for one another.

  5. More Space for the Money. In the price verses square footage scenario, townhomes win hands down for getting more space for the dollar. With less dollars being tied to the land, more of your money goes into buying actual living space. Townhomes are designed with space efficiency in mind, giving you more living area at a lower cost.

Need another reason? Townhomes are amazingly affordable throughout Anoka, Chisago and Washington Counties! The Minnesota townhome market developed too quickly in early the early 2000’s creating more supply than demand. Add to it the overall slow down in real estate, builders started making deals about two years ago from Blaine to Forest Lake and Wyoming to Coon Rapids to keep new developments selling. With builders making deals, traditional sellers have dropped their prices too. Townhomes are selling at unbelievable prices. Read More About Townhome Deals HERE!
Ready to get off the fence and buy a Minnesota townhome and need help from a professional Realtor? Give me a call or visit my website for a FREE Relocation Packet. I specialize in properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes, Blaine and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2008 terieckholm.com

Saturday, July 12, 2008

Uniquely Minnesota Artful Distractions--Homeowner Version: Move Over Tiger! Yogi’s Ready for the Links in Forest Lake!

As a Realtor I get the opportunity to canvas the countryside looking at homes and properties throughout the north metro. Time and again I stumble upon unique treasures. This time, I discovered an artful roadside distraction because of a detour just over two months ago. The tornado devastation in Hugo rerouted me from many of my regular real estate routes to and through Anoka and Washington Counties. On one such detour, I drove past this guy who acts as part of a welcoming committee in a Forest Lake home. Now this is a bear that is ready for one of Minnesota’s favorite summer activities…GOLF! I knew that I would have to take this detour again with camera at hand soon!

So this past week on my way to show homes to out-of-town buyers in White Bear Lake and Stillwater, I made a scheduled detour to get the shot. This guy stands on one side of the driveway while his friend (BooBoo maybe?) who is not decked out in golf attire, stands stately on the other. There was some thought put into the clothing as the beautiful two story home of the owner has the same whimsical color scheme: butter yellow siding with forest green trim.

In my real estate travels, I tend to take the same roads so if it wasn’t for the tornado detour, I would never have traveled past this pair of distracting bears. But this gets me thinking…Maybe I should take alternative routes more often as you never know what uniquely Minnesotan artful distraction could be around the next bend in a Minnesota roadway.

Other Uniquely Minnesota Artful Distractions:


Don't be distracted when making YOUR important real estate decisions! If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2008 terieckholm.com

Wednesday, July 9, 2008

Is NOW the Time to Consider a Minnesota Townhome? You Betcha!

The media reports can be confusing and contradictory about the changed real estate market. One day a report comes out showing declining values on Twin Cities houses and a day or two later, reporters are indicating it is the time to jump off the fence and buy that first home. Meanwhile, the average Joe (or Josephine) sits in the apartment paying the landlord’s mortgage wondering if there will ever be a good time to buy a house! Just like buying any investment, there is no sure thing and no one answer. But from the prices on townhomes I am seeing as a Realtor working in the north and east metro, townhomes might be one segment of the market where someone on the fence will want to jump into the fray!

Townhomes are Affordable—Amazing DEALS!

Throughout Anoka, Chisago, and Washington counties in the late 1990’s there was a shortage of affordable alternative homes for the first time homebuyer. Transitioning out of an apartment where the landlord took care of maintenance also weighted heavily on those considering home ownership for the first time. Downsizers who also wanted a maintenance free lifestyle in their old neighborhoods increase the demand. There was a need and in the early 2000’s townhome development exploded from Hugo to North Branch and Forest Lake to Coon Rapids.

Unfortunately, the explosion was a little too big compared with the pace of buyers entering into the market. This overabundance of newly constructed townhomes has lead to high inventory levels in this segment of the real estate market. Developers recognizing the slowdown indicators and with dozens of projects in the works, started cutting prices and offering deals on financing as far back as 2006.

Now fast forward to today. Many townhome owners have life changes since they bought in the early 2000’s. Townhome and condo owners throughout the Twin Cities are forced to sell their well maintained and much loved properties in this changed market in order to accept that perfect new job out of state or have enough room for a second child. These homeowners face competition from the specials offered on new construction units by developers and compete with the discounted prices of distressed properties like foreclosures. Time after time, I witness homeowners choosing to sell at tens of thousands less than their county assessed value or even the price they paid a few years ago to attract today's buyer!

This is a GREAT opportunity for today’s townhome and condo buyer! Wonderfully maintained townhomes are available throughout the north m
etro at discounted prices!

Here are two AWESOME Examples:

Mint! 2BR/2BA Rambler Townhome in Coon Rapids with Basement and private 2 Car garage attractively priced at only $181,900

Model Perfect! 2004 Built 4BR/4BA/2 Car with Master Suite & ALL the Upgrades and Extras in Circle Pines. Unbelieveably priced at just $204,900! Over 2200+ Square feet finished. 

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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 terieckholm.com

Saturday, July 5, 2008

Wyoming, MN Real Estate Market Statistics Mid Year 2008

The City of Wyoming, Minnesota on the northeastern edge of the Twin Cities metropolitan area is a hidden gem! According to the city’s website the town was named after the first settlers who in 1855 relocated from the Wyoming Valley in Pennsylvania. Wyoming boasts its own police and fire departments, city utilities, library, hospital, elementary school and several community parks. Neighborhood shopping is great with a cute coffee shop, drug store and grocery store in the heart of the town.

Activities are abundant in Wyoming. Not only is the center of the community located smack dab on the walking/biking/snowmobile trail that runs along Hwy 61, there is the new
Stars and Strikes bowling, laser tag, restaurant and meeting facility too. Several great fishing lakes are nearby including, Forest Lake, Coon Lake and Comfort Lake. Hunting is a favorite activity of many Wyoming residents as areas of Carlos Avery State Wildlife Management area are within its border. Wyoming Elementary is an integral part of the Forest Lake District 831 school district which provides community sports and activities for individuals of all ages.

Commuting into St. Paul or Minneapolis is a breeze from Wyoming as most residences are a within 3-5 minute drive to I35. The city is just 3 miles north of Forest Lake which is home to the
NEW Park and Ride lot for an express commute to downtown Minneapolis.

Real estate in Wyoming, MN in southern Chisago County is still selling but it is selling slower than other areas in the metro. The cummulative Days on Market (DOM) Statistic for single family homes in Wyoming is 214 days or approximately 7 months. That is roughly 2 months longer than areas just to the south and west in Forest Lake, Ham Lake and Lino Lakes.

Inventory levels seem to be in line with surrounding communities for price points under $300,000 with about 16 months of inventory. But at higher price points, the inventory level is quite high which translates to approximately 4 years of inventory for Wyoming homes over $300,000, if sales continue at this slower pace.

The amazing deals on the homes in the Wyoming area reflect the changed market. The prices on many existing homes for sale in the Wyoming community have been cut drastically to entice buyers to drive just a little further north.


Mid Year 2008 Wyoming residential real estate statistics for single family homes:

Under $300,000 ~ 53 Active Listings, 5 Pending Listings, 19 Sold Listings, 201 DOM

$300,000-$400,000 ~ 16 Active Listings, 0 Pending Listings, 2 Sold Listings, 256 DOM
$400,000-$500,000 ~ 4 Active Listings, 1 Pending Listings, 0 Sold Listing, N/A DOM
$500,000 and Up ~ 4 Active Listings, 1 Pending Listings, 1 Sold Listings 417 DOM

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/08 through 6/30/08.

Featured Home in Wyoming MN (Pictured Above):
25797 Freeport Avenue, Wyoming, MN 55092

Articles on Wyoming, Lakeshore and Minnesota that might be of interest:

If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2008 terieckholm.com

Wednesday, July 2, 2008

Forest Lake, MN Real Estate Market Statistics Mid Year 2008

Forest Lake, Minnesota is a special community in the northeast metro Twin Cities area. Many people from the city remember Forest Lake fondly from decades ago as a summer vacation spot or place to go for a drive in the country. Today, the lakeside cabins have been replaced with year round residences and the rural nature is all but a thing of the past in this thriving St. Paul suburb. Though housing growth has slowed down drastically in the past year or two in many northern suburbs due to ever increasing gas prices, Forest Lake is holding it’s own.

Real estate in Forest Lake, MN in north Washington County and east Anoka County continues to sell but slowly. The Days on Market (DOM) Statistic is currently running at about 211 days for all homes sold. When the first quarter numbers showed area homes had stayed on the market an average of 287days, this is welcome news.

If we look at sold homes in the under $300,000 category the absorption rate has come back an 11 month level from earlier this year where it was nearly 24 months. But high end homes continue to struggle for sales. Only five homes sold in the last 6 months in the $400,000 plus price category. Currently, the Forest Lake community sits with nearly 5 years of inventory if sales continue at this slow pace on high priced homes. Great homes at amazing prices are out there on lakeshore and acreage properties. With this much inventory, sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore home!


Lakeshore opportunities are abundant in the Forest Lake area! There are more listings than ever before at incredible prices too! The is inventory awesome…47 lakeshore homes currently active. Many have been on the market for a quite a while. With continued low interest rates, it is a great time to negotiate a deal on your piece of Minnesota shoreline!

Mid Year 2008 Forest Lake real estate statistics for single family homes:
Under $300,000~ 99 Active Listings, 10 Pending Listings, 47 Sold Listings, 194 DOM (Lakeshore Subgroup ~ 2 Active, 0 Pending, 3 Sold)

$300,000-$400,000 ~ 39 Active Listings, 0 Pending Listings, 14 Sold Listings, 268 DOM (Lakeshore Subgroup ~ 8 Active, 0 Pending, 8 Sold)

$400,000-$500,000 ~ 13 Active Listings, 0 Pending Listings, 4 Sold Listing, 167 DOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 37 Active Listings, 1 Pending Listings, 3 Sold Listings 385 DOM (Lakeshore Subgroup ~ 31 Active, 1 Pending, 3 Sold)
Lakeshore available in the Forest Lake area:47 Active Listings, 1 Pending Listings, 16 Sold Listings

Forest Lake lakeshore price range: $269,900-$2,300,000

38 Homes on Forest Lake
7 Homes on Clear Lake
1 Home on Shields Lake
1 Home on Heims Lake


**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/08 through 6/30/08.
Articles on Forest Lake, Lakeshore and Minnesota that might be of interest:

If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2008 terieckholm.com

Ham Lake, MN Real Estate Market Statistics Mid Year 2008

Even though existing single family home sales in Ham Lake, Minnesota remained sluggish during the first half of 2008 the numbers show that homes are still selling. The Days on Market (DOM) statistic has stayed pretty consistent with 217 days as compared to 214 in the first quarter and 220 in the fourth quarter of 2007. However, homes in the higher price categories remain stalled.

For the first six months of 2008, only one home is in pending and one sold in the over $500,000 price category. While that three days on the market for the high price point looks like a bright beacon, it is not reflective of the actual market. Since DOM is based on sold properties and only one property sold, the number is an anomaly. The very low DOM for this price point can be attributed to one very unique home on Majestic Oaks Golf Course that sold as soon as it listed. This shows that unique properties priced correctly are selling but is not indicitive of the market when looking at whole picture including the market time of active homes.

Currently, active homes priced over half a million have an average CDOM of 257 as of 7/1/08. One property has been on the market over 600 days! With 67 listings currently on the market priced at $400,000 or more, Ham Lake continues to be over saturated with high end homes.

Lower priced homes under $300,000 are showing some good activity. If homes continue to sell at this current rate, we are looking at just over a year’s worth of inventory in the lower priced categories. In the $300,000-400,000 price range things are moving a bit slower with about 17 months of inventory but not a bad pace considering the changed market place.

An excellent opportunity remains for move up buyers. If you have a starter home in good condition and well priced, it should sell in a decent time frame. Move up buyers with sold homes have quite a selection of properties to choose from in the higher price categories. After 300+ days on the market, many homeowners and builders are ready to negotiate with a strong, non-contingent buyer!

Mid-Year Ham Lake residential real estate statistics for single family homes:

Under $300,000~ 54 Active Listings, 5 Pending Listings, 23 Sold Listings, DOM 184 (New Construction Subgroup ~ 1 Active, 0 Pending, 0 Sold)

$300,000-400,000~ 27 Active Listings, 2 Pending Listings, 10 Sold Listings, DOM 229 (New Construction Subgroup ~ 4 Active, 0 Pending, 3 Sold)

$400,000-500,000~ 30 Active Listings, 4 Pending Listings, 10 Sold Listings, DOM 287 (New Construction Subgroup ~ 3 Active, 1 Pending, 2 Sold)

$500,000 and Up~ 37 Active Listings, 1 Pending Listings, 1 Sold Listings, DOM 3 (New Construction Subgroup ~ 10 Active, 1 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake:

6 Active Listings on Ham Lake lakeshore with prices ranging from: $259,900-$1,350,000

1 Home on Coon Lake
1 Home on Ham Lake
1 Home on Lake Amelia
1 Home on Lake Emily
1 Home on Lake Netta
1 Home on Little Coon Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 3/31/08.


Photo Featured Listing in Ham Lake, Minnesota: 15139 E Vermillion Circle NE, 55304

Other Anoka and Chisago County Listings:
601 86th Lane NW, Coon Rapids, MN 55433
401 Village Parkway, Circle Pines, MN 55014
25797 Freeport Avenue, Wyoming, MN 55092

Articles on Ham Lake, Lakeshore and Minnesota that might be of interest:

If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 terieckholm.com

Tuesday, July 1, 2008

Circle Pines & Lexington, MN Real Estate Market 2008 Mid Year Sales Statistics

Circle Pines is a small city, approximately 2 square miles, in Anoka County. The neighboring community, Lexington is even smaller encompassing less than one square mile of land. Both little communities are often overlooked since they are sandwiched between Blaine, Lino Lakes just to the north of Shoreview.

Circle Pines might be small but is thriving and has a unique history. According to
Circle Pines and Lexington History, it was one of the first cooperative communities started in 1946 in an area between the townships of Blaine and Centerville in Southern Anoka County. According to the Circle Pines website, the symbol of the cooperative was a pine tree with a circle around it; thus the name Circle Pines. Though the unique development idea only lasted 3 years due to financial and leadership problems, the name remained. One benefit of its cooperative past is that Circle Pines is the only suburban city that operates its own natural-gas distribution company which serves part of Lino Lakes. The community is a part of the Centennial School District is home to Golden Lake and acres of wetlands.

Real estate in the communities of Circle Pines and Lexington is affordable and selling—though admittedly at a slower pace than most sellers would like. First half of 2008 numbers show area homes are staying on the market an average of 160 days. When broken down to single family homes versus townhomes/ condos, the single family homes have a 158 average CDOM while townhomes/condos are selling a bit more slowly with a 181 CDOM. Prices reductions on townhomes are drastic in this area due to the abundance of new construction in the neighboring community of Blaine. Amazing deals can be had for the astute first time condo home buyer.

The cumulative days on market numbers for Circle Pines are comparable favorably with other areas of the north metro like Blaine, Forest Lake, Lino Lakes and Ham Lake where homes had 1st quarter cumulative days-on-market rates (CDOM) ranging from 150 to over 200 days. (Links to statistical reports for these communities are listed below.)

Inventory levels of single family homes under $200,000 in Circle Pines are reasonable as most homes fit into that under $300K price catagory. Lower days on the market can be partially attributed to fewer high priced homes and the central location to the downtown areas. New construction townhomes in Lexington that have been on the market since 2005 also skew the DOM results.


2008 Mid Year Sales Statistics for Circle Pines residential real estate statistics for single family homes:

Under $200,000~ 15 Active Listings, 6 Pending Listings, 11 Sold Listings, CDOM 151

$200,000-$300,000 ~ 15 Active Listings, 4 Pending Listings, 5 Sold Listings, CDOM 140

$300,000-$400,000 ~ 0 Active Listings, 0 Pending Listings, 2 Sold Listings, CDOM 265

$400,000-$500,000~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000 and Up ~ 1 Active Listings, 0 Pending Listings, 0 Sold Listings

2008 Mid Year Sales Statistics for Circle Pines residential real estate statistics for townhomes and condos:

Under $200,000~ 24 Active Listings, 0 Pending Listings, 13 Sold Listings, CDOM 181

$200,000-$300,000 ~ 11 Active Listings, 0 Pending Listings, 0 Sold Listings

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 6/30/08.

For additional information on any current Circle Pines real estate listing or for additional information on buying a home in Circle Pines contact Teri Eckholm directly at 651-336-7073.

Photo Featured Listing in Circle Pines Listing :401 Village Parkway, Circle Pines, MN 55014

Other Anoka County Listings:
601 86th Lane NW, Coon Rapids, MN 55433
15139 E Vermillion Circle NE, Ham Lake, MN 55304


Articles on Lakeshore and Minnesota that might be of interest:
If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
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