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Today I listed this immaculate, brick 1 story home at 5648 Garfield Avenue,S., Minneapolis, MN 55419.  This 4 bedroom, 3 bath home has 2 fireplaces and 2 garages.  The starting list price is $269,900.

Other Features of This Home Include -

  • Attractive brick home in move-in ready condition with many updates
  • Living Room/Dining Room area features hardwood floors, large moldings, a fireplace and built in hutches
  • Kitchen has ceramic floors, stainless steel appliances, ceramic counters and space for a small table
  • 3 Bedrooms on main level including good sized master with hardwood floors and 2 closets
  • Ceramic shower and tile counter in main bath
  • Lower level features large family room with 2nd fireplace, 4th bedroom, finished office/exercise room, wet bar, laundry and 3/4 ceramic bathroom
  • Outside back door is new paver patio with a fire pit and a private & fenced backyard
  • Home has both an attached 1 car garage and a detached 1 1/2 car garage with an additional concrete parking pad and basketball hoop
  • Easy access to public transportation just 1 block away

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You can find additional details about the property including more pictures, virtual tour and a map here – 5648 Garfield Avenue S., Minneapolis, MN 55419

For more information about this property or to schedule a showing, please contact me

Bill Wallace is a Realtor at RE/MAX Results in Apple Valley, MN with a focus on Dakota County and the Southern Twin Cities including – Apple Valley, Bloomington, Burnsville, Eagan, Farmington, Inver Grove Heights, Lakeville, Mendota Heights, Prior Lake, Richfield, Rosemount, Savage, Shakopee, South St. Paul and West St. Paul.

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Yesterday I listed this 4 bedroom, 2 bath home at 1212 Allen Avenue in West St. Paul, MN 55118.  This property was built in 1965 and is in excellent condition with a number of recent updates.  It is directly across from Moreland Arts & Health Sciences Magnet School.  You can literally watch your kids walk directly across the street and into their school from your large, front picture window.

Other features of this home include -

  • In addition to it being directly across the street from Moreland Magnet Arts Elementary (which has ball fields and playground) Heritage Middle School is within walking distance.
  • Many new updates in this well cared for home including: New roof (2010), new deck (2009), new entry door, new dishwasher, new garage door/garage door opener, new lighting and fresh paint
  • Main floor has hardwood under carpeting in living room and bedrooms
  • Double vanity and ceramic in main bath
  • Very private & flat backyard with fencing on 3 sides and storage shed
  • Hard to find oversized 2 car garage which is fully sheet rocked, insulated and heated
  • Eat In Kitchen has lots of cabinets and new tile backsplash behind stove
  • 3 good sized bedrooms on main level, each with a ceiling fan
  • Lower level features spacious family room, 4th bedroom/office, laundry and 3/4 bath
  • Less than 1/2 block to public transportation

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Schools:

You can find additional details about the property including more pictures, virtual tour and a map here – 1212 Allen Avenue, West St Paul, MN 55118

For more information about this property please contact me

Bill Wallace is a Realtor at RE/MAX Results in Apple Valley, MN with a focus on Dakota County and the Southern Twin Cities including – Apple Valley, Bloomington, Burnsville, Eagan, Farmington, Inver Grove Heights, Lakeville, Mendota Heights, Prior Lake, Richfield, Rosemount, Savage, Shakopee, South St. Paul and West St. Paul.

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Yesterday I listed this stunning newer home at 13381 Couchtown Ct., Rosemount, MN 55068.  This 5 bedroom, 4 bathroom home was built in 2005 and sits on a cul-de-sac.  It shows like a home right out of HGTV and has an amazing private backyard.

Other features of this home include -

  • Glendalough neighborhood of Evermoor – Rosemount’s Premier Development. Glendalough features 2 swimming pools, parks & miles of paved walking trails
  • Very private yard that’s easy to maintain. Yard can be extended another 20+ feet by removing trees to create a larger backyard
  • Kitchen features dark wood cabinetry, stainless steel appliances & Cambria counters
  • Main floor office that’s unique to this model
  • Open concept main living space with kitchen, informal dining and living room
  • Home features today’s colors on all walls and is in excellent condition with many updates
  • Huge vaulted master bedroom with room for lots of furniture. Large w-in closet w/ built ins
  • Newly finished, walk out basement level features large, cherry bar, granite, gaming area, television area, 5th bedroom and ceramic 3/4 bath
  • Oversize 3 car garage with lots of storage
  • 4 outdoor spaces—covered front porch, large deck, stamped patio and fire pit
  • Very friendly neighborhood with lots of kids

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Schools:

You can find additional details about the property including more pictures, virtual tour and a map here – 13381 Couchtown Ct., Rosemount, MN 55068

For more information about this property please contact me

Bill Wallace is a Realtor at RE/MAX Results in Apple Valley, MN with a focus on Dakota County and the Southern Twin Cities including – Apple Valley, Bloomington, Burnsville, Eagan, Farmington, Inver Grove Heights, Lakeville, Mendota Heights, Prior Lake, Richfield, Rosemount, Savage, Shakopee, South St. Paul and West St. Paul.

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What The Twin Cities Housing Supply Report Is Telling Us

by Bill Wallace on February 23, 2012

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Each month the Minneapolis Association of Realtors publishes their Twin Cities Housing Supply Report to analyze the characteristics of homes for sale in the Twin Cities market and compare it to historical statistics.  A lot has been made recently about how sales are up and inventory for homes is down but a lot of interesting information can be gained by looking at the details.  So lets do just that…

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This graph from the Housing Supply Report shows the number of pending sales on a rolling 12 month basis in the Twin Cities.  Some good information from this -

  • There are lots of real estate investors in the market right now and they are especially interested in lower priced properties that can be turned into rental units.  In the past 12 months they snapped up those properties priced less than $120k at a very fast rate.
  • As you move into properties priced between $150k-$1,000,000 we actually saw sales continue to decline.  This explains why all the Twin Cities news media reports show that sales are up and yet prices are down.  The houses that are selling are low end units and traditional sellers really still had sales declines throughout 2011

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This report from the Housing Supply Report shows the number of active real estate listings in the Twin Cities by price range.  Overall, the number of listings is down 27.9% but as you can see, that range is much more extreme as you move toward lower price points.  A couple observations include -

  • It’s definitely getting harder to find good homes in the lower price points.  A lot of this is being driven by real estate investors who are snapping up low priced listings right now as the rental market is so strong.  They are having increasingly more difficult times finding properties right now.
  • As you get toward higher price points the inventory is much more balanced but there are fewer listings across the board which is positive for all sellers

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The final graph I’ve chosen from the Twin Cities Housing Supply Report is this one which shows the Months Supply of Inventory by price point.  The Months Supply of Inventory shows how many months it would take to sell all the current listings on the market based on the number of listings divided by the current sales rate.  In other words, if no new $190-250k listings came on the market then it would take 4.8 months to sell all the current listings in that price point based on current sales levels.

A balanced real estate market in the Twin Cities is 5-6 Months Supply of Inventory so by this measure we can see that the supply of lower priced homes is way down and is causing some shortages.

  • Although most pronounced at low prices, Supply is actually down across all price points
  • While 9.8 months Supply for $500-1,000 and 17.7 months Supply for $1 Million + homes seems daunting, those numbers are actually about half of what they were just 2 years ago.  At one point the Supply for $1M+ homes was over 36 months

Wrapping up Housing Supply Report

One of the most common questions a Realtor gets is “what’s happening with the current real estate market”?  It has been very confusing in the local media when every other report seems to show positive and then negative news.  Hopefully, by digging more deeply into the Housing Supply Report for the Twin Cities it’s easy to see that sales have been especially strong at lower price points (driven by investors).  We can also see that most measures of inventory are still quite positive for even traditional sellers as the supply is down across the board which will certainly help everyone for now.

You can always get the latest Twin Cities market statistics and reports here.

For more information please contact me

Bill Wallace is a Realtor at RE/MAX Results in Apple Valley, MN with a focus on Dakota County and the Southern Twin Cities including – Apple Valley, Bloomington, Burnsville, Eagan, Farmington, Inver Grove Heights, Lakeville, Mendota Heights, Prior Lake, Richfield, Rosemount, Savage, Shakopee, South St. Paul and West St. Paul

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RE/MAX Results Radar – Home Search Application for Mobile Devices

February 20, 2012

Today I am happy to introduce the RE/MAX Results Radar – a free Home Search Application for your mobile phone.  The Results Radar is a Home Search application that you download to your Apple iPhone or iPad, Android Phone or Tablet or coming soon, Blackberry device. You can download this free Home Search tool here […]

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New Listing – 15564 Columbia Court, Rosemount, MN 55068

February 7, 2012

Today I listed this 1 owner, former model at 15564 Columbia Court, Rosemount, MN 55068.  This house is a 3 level split that is located on a quiet cul-de-sac and has had tons of updates done to it in the past few years.  It is a very short walk over to Jaycee Park with its […]

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Get Free Twin Cities First Time Homebuyer Guide

January 31, 2012

This past weekend I participated as a vendor at the Twin Cities – South of the River Wedding Expo in Burnsville at the Best Western Nicollet Inn.  In preparation for this event I published a First Time Homebuyers Guide to assist new couples through the process involved with buying their first home.  This 15 page […]

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Dakota County Housing Affordability At All Time High

January 10, 2012

The Housing Affordability Index in Dakota County (and the rest of the Twin Cities) is at an All-Time High this month.  At the end of December 2011, the index hit a mark of 264 which is 8.6% above this time a year ago. What Is The Housing Affordability Index The Index was developed in 1971 […]

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Evermoor Development Rosemount – 2011 Home Sales Update

January 5, 2012

Evermoor continues to be one of Rosemount’s premier development’s so it’s time to do a 2011 home sales update in the place I call home.  This former 500+ acre sheep farm is finally about to be completely filled with homes as Lennar is expected to finish the final open lots in the Glendalough neighborhood by […]

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Expired Listing Success Story – Steve & Susan in South St. Paul

January 4, 2012

It’s been a while since I wrote an expired listing success story so as we enter the new year it’s a good chance to go back and get caught up on some of the 8 listings that I helped sell in 2011 that had failed with a  previous Realtor.  I have written up a number […]

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