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« August 2014 | Main | October 2014 »
JUST SOLD! 26794 Meadow Ridge Drive
Light & bright home on large corner lot w/ wetland views! Open & vaulted kitchen/living room. Huge center island & stainless appliances.
Bedrooms w/ walk-in closets. Full bath w/ double sink vanity. Full unfin walk-out lower level. Paver patio. 3-car garage!
PRICE REDUCED! 990 Vine Street
This walkout two story is tucked onto a pondfront lot and features an open floor plan with many upgrades throughout! The main floor features a den with French doors, a living/flex room, and a family room with a gas fireplace.
The kitchen has 42-inch raised panel cabinetry, stainless steel appliances, and a center island. A powder bathroom and the laundry lie just off the kitchen.
The second floor includes four bedrooms and two full bathrooms, including a private master suite with a walk-in closet and a full bathroom with heated tile flooring, a whirlpool tub, and dual sinks. The walkout lower level has a rough-in bath and can be finished for future equity.
This home features a sizeable deck and patio, an in-ground sprinkler system and an air exchanger. Ice skate on the pond in the winter and enjoy the views year round!
Offered at $279,900.
View our VIRTUAL TOUR.
990 Vine Street is proudly marketed by Chad & Sara Huebener of Edina Realty. For more information or to schedule a private showing call 952-212-3597.
JUST SOLD! 18922 Dorenkemper Place
This stylish end unit townhome features one-level living at its finest! The kitchen has maple hardwoods and cabinetry, granite surfaces and a sunroom-style dinette. The kitchen looks onto the dining room and a family room with built-ins and a three-sided fireplace shared with the vaulted sunroom. The sunroom leads to a very private deck overlooking the pond.
The private master suite has a walk-in closet and a full bath with elevated dual sinks, tile flooring and a whirlpool tub. A den with French doors, another full bath and the laundry room also lie on the main floor.
The finished walkout lower level features a large family room with a stone fireplace, an amusement area with a wet bar, and an exercise room with French doors. A large bedroom and another full bathroom are just off the family room. The patio has a roll-down SunSetter shade.
You’ll love other features of this home, such as raised millwork, solid-core doors, an abundance of cabinetry, and a charming front porch. The home is tastefully decorated with warm, inviting colors. Move right in!
Offered at $395,000. SOLD AT $380,000
View our VIRTUAL TOUR.
18922 Dorenkemper Place is proudly marketed by Chad & Sara Huebener of Edina Realty. For more information or to schedule a private showing call 952-212-3597.
JUST SOLD! 3609 Jeffers Parkway
This remarkable end unit home features one-level living at its finest. The main floor features a kitchen with cherry cabinetry, hardwood floors, granite surfaces, stainless steel appliances and an island with pendant lighting.
The family room has a dry-stack stone fireplace and built-ins. A four-season sunroom and the dinette both overlook the pond.
The main floor also has a den, powder bath, and a master suite with a full bath with tile flooring, dual sinks and a whirlpool tub.
The walkout lower level features a family room with wooded views, two bedrooms, a 3/4 tile bath, and abundant storage. You'll appreciate other features, such as solid-core doors, iron spindles, pillars and archways. This home is tucked into a quiet community surrounded by parks, walking trails and nature areas!
View our VIRTUAL TOUR.
Offered at $339,900 SOLD AT $339,900
3609 Jeffers Parkway NW is proudly marketed by Chad & Sara Huebener of Edina Realty. For more information or to schedule a private showing call 952-212-3597.
Fall 2014
We hope you’re having a great 2014. The market this year is showing significantly different trends compared to 2013, with increased relocation activity, more homes available for sale, and modest appreciation being key traits. Below, we summarize our observations of the 2014 market so far.
1. The market got a delayed start. Normally we associate February 15 with the opening of spring market. This year, the “Worst Winter Ever” kept buyers indoors during the early spring. Most buyers and sellers didn’t come out of hibernation, and the market did not kick into high gear, until late April. Nonetheless, open houses remained busy as people contemplated a new home. On one particular 12-below-zero day this February, we had 12 GROUPS of people through an open house in Savage.
2. 2014 is becoming known as the year of the “Segmented Market.” Sales in the $0 - $250,000 range are down this year. Sales in the $750,000 - $1Mil price range are up. We’ve had several REALTORS® stop by our open houses to ask if we are seeing what they are seeing. The answer: Yes, we are. The amount of available properties for sale is rising, and market times are higher than last year, but so, too, is the average sales price. The changes in rising inventory levels paired with other market trends are resulting in modest appreciation in the market. It’s all over the board. And it’s mostly good.
3. Relocation is active again. We have seen more relocation activity this year than the past three years combined. Most of the relocation sellers we’ve encountered this year are being transferred to California, Texas, or the Southeast - particularly Georgia and North Carolina. One moved to Iowa.
4. The reduction of FHA loan limits changed the dynamics of the market. Starting January 1, 2014, FHA reduced its loan limits from $365,000 to $318,550 – a reduction of $46,450. This created a significant shift in the $350K+ market, as a majority of the buyer pool previously approved for this price bracket now searched for homes closer to $330,000, leaving primarily conventional and cash buyers to purchase homes in the $350K+ range. This reduction in loan limits kept the $325,000 (and under) market moving steadily, and slightly changed the demand for homes priced at $350,000 - $400,000.
5. Buyers are attracted to new construction in Savage and Prior Lake. Many buyers preapproved at $400K+ are exploring new construction as a housing option. Builders are still offering incentives, and with limited communities available in 719 schools, builders are experiencing strong buyer traffic. The most popular communities we are seeing our clients gravitate towards are Tracewater and Creek Hill Estates in Savage, and Maple Glen in Prior Lake.
6. Younger buyers (i.e. Millenials) are entering the market in lower numbers than were expected. Analysts of our statistical housing data are suggesting that the reasons for this trend are numerous: For many, a heavy student debt load is affecting buying power and delaying the decision to purchase. Others are feeling uncertainty about their jobs and are choosing to rent, where there is a higher degree of flexibility to make a quick move if necessary. Some are finding that their tastes for higher-end finishes outweigh their budget, and are choosing to rent a home with newer finishes vs. investing in a starter home and updating it over time. Some are simply gun-shy, and others are quite content in mom and dad’s basement.
7. Young professionals are willing to pay for updates. Expanding on point #4 above, we’ve had countless discussions with both clients and industry leadership on how sellers can best position themselves in a competitive market, when the buyer demographic for their home is heavily comprised of 20-and 30-somethings. The debate often arises of whether the solution is being competitively priced, vs. having a “show-stopper” home that is well staged and upgraded to the 9’s. While sellers often need to win the beauty contest for a competitive price, the fact remains that many young professionals will pay more for an upgraded home. When it comes down to it, many young people who can afford an updated product do not want to spend the time tinkering with one that is not.
8. Updates matter. Popular cosmetic trends we are seeing homeowners do to improve their home include adding solid surfaces (e.g. granite) to kitchens and baths, replacing linoleum flooring with tile, installing new carpet, swapping out shiny brass hardware, doorknobs, and lighting with brushed nickel or oil-rubbed bronze, freshening the paint, sprucing up the front door and updating exterior lighting. Some are undertaking more dramatic measures, such as adding custom built-ins, or darkening hardwood floors and white-enameling the trim for a clean, contrasting look. (Seriously…we are seeing people take down their kitchen cabinetry to refinish it in their garage, and the transformations are Pinterest-worthy.) Regardless of how far someone can, or will, go to update a home, a CLEAN home shows best, even if it still has the original green carpet from 1962. Buyers can tell if a home has been cared for. And there is a degree of comfort in that.
9. Experience is valuable. Between listing agents, showing agents, inspectors, appraisers, contractors, lenders, underwriters, movers, relocation companies, and mom and dad, there are a lot of hands in the Real Estate Transaction Pot. Emotions can fly, and it can become very complex. A seemingly minor checkbox on a Purchase Agreement can have big implications in a transaction. It’s important to work with someone who understands what this means to you as a seller or a buyer.
If you plan on selling in the future, please call us for a confidential interview. We are aggressive, knowledgeable about our local market, and we think outside of the box. We would appreciate any opportunity to earn your business.
Chad and Sara Huebener
Edina Realty
pr>Chairman’s Circle AwardRanked #1 for Home Sales in Savage
Relocation and Short-Sale-Certified
Phone: 952-212-3597 952-215-5012
