What’s My House Worth in Ham Lake, MN? Or Lino Lakes, Forest Lake, Hugo orBlaine?

It's not a trick question. But it can be tricky to get a realistic answer because whether it is a buyer's market, seller's market or something in between, there is no simple way to come up with an exact market value for the average homeowner

Many people think if they pull out the big vinyl envelope from the last time they refinanced they have a document with an accurate home value. After all good money was paid, usually several hundred dollars, for an appraiser to come up with a dollar figure of value for the bank to approve the loan. So is the appraised value what your home is worth?

Some people look to the assessed values that arrive on an annual basis from the Anoka County or Washington County assessor. It seems reasonable that this would be an indication of a property's current value.
 
Another resource internet savvy people look to for an idea of the value of their home is an  interactive real estate website like Zillow  or Trulia. Type in the property address and within seconds a slew of interesting information pops up the computer screen. But is a Zestimate value as accurate a resource as Kelly's Blue Book is for an automobile?
 
In a word, no. But all of these values and resources do provide some clues to the value of a property. 

People with no plans to sell their home, will often use these resources to get a ballpark idea and indication of their home's value. But if a homeowner wants to put their home on the market and sell,  there is no special real estate Magic 8 Ball for determining the best starting price. A savvy home seller will work with a knowledgeable REALTOR®, who knows their community, to get the best advice on their home's market value.

Many things affect the selling price.  For instance a Forest Lake area home located on the west side of 35 in Columbus with quick access to 35, convenient to schools and shopping might be more desirable to buyers than a home on the far eastern side of Forest Lake. But a home in town with public utilities rather than a private well and septic system also affects market value. Value is also dependent upon whether or not the property on a busy road, near power lines or close to parks and playgrounds. And of course the home's ammenities like, square footage, how many updates have been done to the home and do they fit the property and the neighborhood need to be assessed. Considerations like these are only the tip of the iceberg in determining a market value of a home.

As a REALTOR®, I serve the communities in the Forest Lake school district and Anoka County. From Forest Lake to Hugo and Lino Lakes to Blaine and beyond, I keep my ear to the ground to hear what affects the prices of homes in the north and east Twin Cities metro area. Are you planning to move this summer and need to know what your home is worth? Do you want expert advice from someone who knows the Anoka County and Forest Lake District #831 area? Let me help you! Contact me to schedule a FREE market value assessment.  I won't bring a magic 8 ball, instead I will bring my real estate pricing expertise and experience!

 Copyright 2012 www.terieckholm.com

Lino Lakes, MN Real Estate Market Statistics First Quarter 2010

Looking for a good deal on lakeshore or acreage in the Twin Cities area north metro? Lino Lakes, MN in Anoka County might be just the ticket. Just north of the Minneapolis and St. Paul, Lino Lakes is an eclectic area of real estate with acreage, lake homes, townhomes, single family starter homes and country estates. First quarter sales have been very good in the lower price points with bank owned and lender mediated properties impacting the sales. Homes in higher price points and those offered by traditional sellers had longer market times but some properties were selling.

Lino Lakes has a good mixture of lakeshore, acreage and townhome residences but is more known for having a bit of space between the houses. It conveniently located near the junction of the 35E and 35W split, just north of the Twin Cities, Lino Lakes is a 33 square miles treasure. With 13 lakes and acres of beautiful protected wetland, the community is served by three school districts; Centennial District #12, Forest Lake District #831, and White Bear Lake District #624. The gem attraction is the pristine 2,700-acre Rice Creek Chain of Lakes Regional Park Reserve is situated within the heart of the city. Lino Lakes is committed to maintain this treasure and its natural settings and wildlife habitats for years to come.

Lino Lakes single family homes are lingering on the market a couple of weeks less in 2010 than in the first quarter of 2009. The first quarter cumulative days on market (CDOM) statistic is a bit lower than for the average CDOM of 2008 (178 versus 192) Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 11-12 months of inventory. This is just a bit higher absorption rate than last year at this time.

While homes under $200,000 in Lino Lakes appear to have about 6 months of inventory, homes in the $200,000- $300,000 price point are looking at 2.5 times the inventory and market time. While homes in the higher price ranges are looking at a couple of years worth of inventory.Townhomes are doing much better than last year with about 5 months of inventory. Last year at this time Lino Lakes had nearly 3 years of townhouse inventory. High inventory combined with continued low interest rates make it a great time to consider buying Lino Lakes home.

1st Quarter 2010 Average Sales Price of all homes sold in Lino Lakes:
· All Homes $204,323
· Single Family Homes $231,710
· Townhomes/Condos $140,422

1st Quarter 2010 Average Cumulative Days on Market in Lino Lakes:· All Homes 178
· Single Family Homes 191
· Townhomes/Condos 146

1st Quarter Lino Lakes residential real estate statistics for single family homes:

Under $200,000~ 14 Active Listings, 7 Pending Listings, 7 Sold Listings, 122 CDOM

$200,000-$300,000 ~ 51 Active Listings, 13 Pending Listings, 10 Sold Listings, 234 CDOM

$300,000-$400,000 ~ 29 Active Listings, 3 Pending Listings, 3 Sold Listings, 126 CDOM

$400,000-$500,000 ~ 16 Active Listings, 0 Pending Listings, 1 Sold Listings, 297 CDOM

$500,000 and Up~ 12 Active Listings, 0 Pending Listings, 0 Sold Listings

1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:

Under $200,000~ 16 Active Listings, 9 Pending Listings, 9 Sold Listings, 146 CDOM

$200,000-$300,000 ~ 8 Active Listings, 1 Pending Listings, 0 Sold Listings

Lakeshore available in Lino Lakes as of 4/20/2010

6 Active ListingsLino Lakes lakeshore price range: $304,500-$1,118,0001 Home on Amelia Lake
2 Homes on Baldwin Lake
3 Homes on Reshanau LakeAcreage properties available in Lino Lakes as of 4/20/201016 properties listed on 1-2 Acres priced between $189,900-$595,000.
3 properties listed on 2.1-5 Acres priced between $163,000-$269,900
6 properties listed on 5.1-10 Acres priced between $309,500-$1,118,000
1 property listed on 29 Acres priced at $749,900
1 property listed on 80 Acres priced at $6,000,000

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

**All Statistical information sold based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/10.

Copyright 2010 Teri Eckholm 

Lino Lakes, MN Real Estate Market Statistics First Quarter 2009

Looking for a good deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro? Lino Lakes, MN in Anoka County might be just the ticket. First quarter sales have seen sales in the lower price points with bank owned and lender mediated properties impacting the sales. Traditional homes had longer market times but some properties were selling.

Lino Lakes has a good mixture of lakeshore, acreage and townhome residences but is more known for having a bit of space between the houses. It conveniently located near the junction of the 35E and 35W split, just north of the Twin Cities, Lino Lakes is a 33 square miles treasure. With 13 lakes and acres of beautiful protected wetland, the community is served by three school districts; Centennial District #12, Forest Lake District #831, and White Bear Lake District #624. The gem attraction is the pristine 2,700-acre Rice Creek Chain of Lakes Regional Park Reserve is situated within the heart of the city. Lino Lakes is committed to maintain this treasure and its natural settings and wildlife habitats for years to come.

Lino Lakes single family homes are lingering on the market for about a month longer in this first quarter of 2009. The first quarter cumulative days on market (CDOM) statistic is much higher than for the average CDOM of 2008 (192 versus 160) Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 10-11 months of inventory. This does seem a little longer than in surrounding communities. Hopefully things will pick up again now that spring as just about sprung.

While homes under $200,000 in Lino Lakes appear to have about 10 months of inventory, homes in the $200,000- $300,000 price point are looking at twice the inventory and market time. Townhomes are moving even slower with about three years of inventory. High inventory combined with low interest rates and an $8000 tax credit for first time buyers makes it a great time to consider buying Lino Lakes home.

2008 Average Sales Price of all homes sold in Lino Lakes:

· All Homes $259,826
· Single Family Homes $276,580
· Townhomes/Condos $169,074

2008 Average Cumulative Days on Market in Lino Lakes:

· All Homes 160
· Single Family Homes 157
· Townhomes/Condos 178

1st Quarter Lino Lakes residential real estate statistics for single family homes:

Under $200,000~ 21 Active Listings, 4 Pending Listings, 6 Sold Listings, 84 CDOM

$200,000-$300,000 ~ 46 Active Listings, 3 Pending Listings, 7 Sold Listings, 270 CDOM

$300,000-$400,000 ~ 29 Active Listings, 1 Pending Listings, 1 Sold Listings, 125 CDOM

$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 3 Sold Listings, 223 CDOM

$500,000 and Up ~ 14 Active Listings, 1 Pending Listings, 1 Sold Listings, 275 CDOM

1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:

Under $200,000~ 27 Active Listings, 7 Pending Listings, 3 Sold Listings, 158 CDOM

$200,000-$300,000 ~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings

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

Lakeshore available in Lino Lakes as of 3/31/2009
4 Active Listings

Lino Lakes lakeshore price range: $265,000-$648,000
1 Home on Baldwin Lake
1 Home on Otter Lake
2 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 3/3/2009
15 properties listed on 1-2 Acres priced between $169,900-$799,900.
3 properties listed on 2.1-5 Acres priced between $249,900-$550,000
2 properties listed on 5.1-10 Acres priced between $349,000-$650,000
1 property listed on 10.92 Acres priced at $279,900
1 property listed on 29 Acres priced at $849,900
1 property listed on 80 Acres priced at $6,000,000


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

**All Statistical information sold based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/