West Savage Real Estate Blog

JUST SOLD! 4889 Spruce Lane, Savage - Chad & Sara Huebener, Edina Realty, Lic. MN

JUST SOLD!   4889 Spruce Lane, Savage 

So much is new in this 3BR 2BA home with a heated 3-stall garage!   The home features a vaulted and open floor plan with new carpet throughout!   The kitchen has new stainless steel appliances and a new patio door.  

A brand new deck (August 2014) lies off the dinette.  Down the hall you’ll find two bedrooms and a full bathroom with tile flooring.   The walkout lower level includes a large family room that leads to the backyard.  Another large bedroom and a ¾ tile bathroom lie in the lower level.  

This home also features new windows (summer 2014,) new patio doors on both levels, a new sump pump, ceiling fans, a new driveway apron, new 8-foot garage doors, and a workbench.   You’ll love the quiet street, the spacious backyard, and a great school district!

View our VIRTUAL TOUR.

Offered at $234,900   SOLD AT $229,700

4889 Spruce Lane is proudly marketed by Chad & Sara Huebener of Edina Realty.  For more information or to schedule a private showing, call 952-212-3597.  

Weekly Market Activity Update - For the Week Ending October 18

Rising home prices and continued housing stability continue to lure new listings and keep inventory at a comfortable level. Although things like student debt and lethargic wage growth may provide some obstacles for first-time home buyers, those on the hunt for homes are still graced by relatively low inflation and low mortgage rates. The seasonal slows may settle in soon, but the market remains mostly content.

In the Twin Cities region, for the week ending October 18:

• New Listings increased 1.6% to 1,310

• Pending Sales increased 5.1% to 912

• Inventory increased 6.1% to 18,094

 

For the month of September:

• Median Sales Price increased 5.1% to $204,999

• Days on Market remained flat at 71

• Percent of Original List Price Received decreased 0.9% to 95.6%

• Months Supply of Inventory increased 18.4% to 4.5

NEW PRICE! 15774 Island View Road - Chad & Sara Huebener, Edina Realty, Lic. MN

BIG Price Reduction!   15774 Island View Road 

You will love the lake views and the functional, flat, fenced backyard!  This 3BR 2BA home sits on a mature-treed lot and offers wooded privacy, all on a quiet, low-traffic street.   This home boasts large room sizes and family gathering spaces, a wonderful yard for kids and pets to play, newer appliances, sun-filled rooms, and 719 Schools!

Offered at $212,000.

15774 Island View Road 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 in Windsor Pond! 14060 Kings Court, Savage - Chad & Sara Huebener, Edina Realty, Lic. MN

JUST SOLD in Windsor Pond!  14060 Kings Court, Savage 

No detail has been overlooked in this heavily upgraded Craftsman-style rambler. 

The main floor features an office with double pocket doors, a family room with a two-sided stone fireplace and a reading nook, and a kitchen with knotty alder cabinetry, granite surfaces, stained glass pendant lighting, and hand-scraped maple hardwood flooring. 

The main floor master suite features a private full bath with a dual head walk-in shower, an Air Jet bath, and a glass dual sink vanity.  The laundry room has front load appliances and an industrial rubber floor.  

The lower level features a family room with a stone fireplace and a second kitchen with enameled cabinetry and a farm-style sink.  A hallway with 13-feet of floor-to-ceiling built-ins leads to three bedrooms and a Jack-n-Jill bath with heated floors.

This home includes over $50,000 in audio wiring, updated mechanicals including a radon mitigation system, a heated and insulated garage with attic storage and a workbench, and a beautiful paver patio, driveway and walkway.  

The landscaping is extensive, with boulder walls from the Iron Range, exterior lighting, drip lines, a water fountain, and much more!

View our VIRTUAL TOUR.

Offered at $499,999  SOLD AT $495,000

14060 Kings Court in the Windsor Pond neighborhood of Savage is proudly marketed by Chad & Sara Huebener of Edina Realty.  For more information or to schedule a private showing call 952-212-3597.

West Savage Update - October 2014

The local REALTOR Associations are highlighting the positive:  Buyers this year have far more homes to choose from than they did last year.   Traditional inventory is rising, while foreclosure and short sale inventory is falling drastically.  And our West Savage inventory is certainly reflecting that.   With only 3 PENDING sales and 33 ACTIVE homes on the market this month, we are sitting at an all-time inventory high in West Savage, with 88% being traditional in nature.   

Regardless of how they spin the stats, sellers are still wondering “where are all the buyers???”    The truth of the matter is there are fewer, spottier showings in all price ranges, and little buyer urgency given the continuing low interest rates.  We have a few theories as to the cause of the rising inventory and falling urgency.  

• The pent-up demand that came out of the depressed market ran much of its course last year as buyers took advantage of historically-low interest rates at a time when pricing was still crawling out of the bottom of the barrel.  It was the perfect storm of ideal buying conditions.  And buyers bought homes like crazy in 2013.
• New construction in Savage is stealing a lot of the upper bracket ($400K+) thunder from existing properties.   Many buyers fall in love with the shiny new penny.   
• The price increases we saw last year excited many, who subsequently put homes on the market in the hopes of seeing that trend continue into this year. 
• Economic uncertainties brought on by the upcoming election, ISIS and Ebola are causing a lot of stir. 

The most important things a seller can do given these changing market conditions are to price the home appropriately, update as necessary and remain patient.  One never knows what might happen, and it only takes one buyer to fall in love with a home. 

This month, single family inventory in Savage has risen, townhome inventory in Savage has declined, and both single family and townhome inventory in Scott County (as a whole) have declined.   The West Savage absorption rate is 6.18 this month.  That means if zero new homes come on the market, it will take 6.18 months to sell our existing inventory.    

Chad & Sara's FALL OPEN HOUSE BLITZ

Join us for our FALL OPEN HOUSE BLITZ this weekend!   We will be showcasing 13 properties this weekend in all styles and price ranges.  Come and see if one of these properties is the right fit for you!

You can print (or scroll through) the schedule of open houses from the PDF below.

JUST SOLD! 7BR 6BA 5-Car Two-Story in Westridge Lake Estates! 3495 Westridge Drive - Chad & Sara Huebener, Edina Realty, Lic. MN

JUST SOLD in Westridge Lake Estates!   3495 Westridge Drive, Shakopee  

Space and elegance unite in this elegant two-story in Westridge Lake Estates.  Featuring 7BR, 6BA and a 5 car garage (including a heated lower level spancrete garage,) this home leaves no detail overlooked.

The main floor features a two-story Great Room with birch floors and arched windows, and formal living (or study) and dining rooms.  The vaulted main floor master suite has dual sets of French doors, built-ins, and a private travertine bath with dual sinks, a whirlpool tub and a travertine walk-in shower.

The kitchen offers cherry cabinetry with undermount lighting, an enormous granite island, an organization desk and double ovens.  The family room has a gas fireplace and built-ins.  The travertine powder bath features crown moulding and the laundry room is complete with front-load LG stainless appliances. 

Upstairs you’ll find four bedrooms and two full Jack-n-Jill bathrooms. One of the rooms is vaulted and dormered and has an enormous walk-in closet. 

The fully-finished lower level features dual walkouts, an open family/amusement area with a fireplace and wet-bar rough-in, two bedrooms with lighted closets, a full lower level spa bath, and a lower level half-bath with an adjoined laundry area.  A storm/panic room and access to the heated lower garage are also found in the lower level. 

This home is tucked onto a 1.09 acre lot and features a deck that wraps the back of the home, a paver patio and a concrete driveway.  The home has a Kinetico water filtration system, Wirsbo in-floor heat, solid-cherry doors, bullnose corners, knockdown ceilings, custom cabinetry in both garages, and more! 

SOLD AT $495,000.   View our VIRTUAL TOUR.

3495  Westridge Drive in Shakopee is proudly marketed by Chad & Sara Huebener of Edina Realty. For more information or to request a private showing, call 952-212-3597.  

JUST SOLD in River Run! 14899 River Crossing, Savage - Chad & Sara Huebener, Edina Realty, Lic MN

JUST SOLD!    14899 River Crossing 

Welcome to 14899 River Crossing!  This well-maintained home features an upper level with a vaulted living room and kitchen.  The kitchen has abundant cabinetry and a center island and leads to a deck overlooking the marsh.  Three bedrooms and a full bathroom lie down the hall.  The master bedroom has crown molding and its own private ¾ bathroom.

The finished walkout lower level features a large family room with a gas fireplace that leads to a patio.  An enormous fourth bedroom could be a separate entertaining area or teen suite.  The laundry room is also in the lower level. 

This home features other amenities, such as a new water heater, Andersen windows/patio door, an insulated 3-car garage with pull-down storage, an in-ground sprinkler system and invisible fencing.  The home is in a quiet neighborhood and is conveniently located close to parks, shopping, and roadways.

View our VIRTUAL TOUR.

Offered at $259,900   SOLD AT $256,500

14899 River Crossing in Savage is proudly marketed by Chad & Sara Huebener of Edina Realty.  For more information or to schedule a private showing call 952-212-3597.

 

Pricing Gains Normalizing as Traditional Sellers Replenish Inventory

For the month of September 2014, inventory in the 13-county Minneapolis–St. Paul metropolitan area rose 8.2 percent from last year, and it was the seventh month in a row of year-over-year inventory gains. Consumers now have 18,250 homes from which to choose. Sellers were more motivated to sell this year, as evidenced by new listing activity increasing 7.2 percent to 6,832. Top-line pending sales decreased a slight 1.3 percent to 4,155, indicative of there being less foreclosure activity entering the market than anything else.

With 4.4 months’ supply of inventory, the absorption rate is consistent with a market transitioning back toward balanced territory, where neither buyers nor sellers have a clear edge. The sales mix continued to skew toward traditional homes that sell in less time and at higher price points. The median sales price rose 5.1 percent to $205,000. That now marks 31 consecutive months of year-over-year price gains. 

Prices are driven by several factors such as supply and demand but also changes in the sales mix. Looking more deeply at the numbers, a story emerges. While new listings rose 7.2 percent overall, traditional new listings were up 17.9 percent while foreclosure and short sale new listings fell 42.2 and 42.5 percent, respectively. Similarly, overall pending sales were down 1.3 percent, but traditional pending sales rose 9.2 percent while foreclosure and short sale pendings fell 37.0 and 43.3 percent. Market-wide inventory levels increased 8.2 percent, but traditional inventory was up 23.2 percent while foreclosure and short sale inventory levels fell 38.2 and 47.1 percent.

Despite nearly three straight years of rising prices, the Twin Cities housing affordability index has remained relatively stable. The current reading of 186 indicates that the median household income was 86 percent greater than what’s necessary to qualify for the median-priced home under current interest rates. While the index is below its 2012 peak, it remains above its long-term average.

Buyers have more homes from which to choose than they had at any point in 2013 and half of 2012. A growing share of that inventory falls into the traditional segment. Days on market was perfectly even with last year at 71 days. The median list price rose 6.7 percent to $239,900. Price per square foot rose 4.7 percent to $121. According to the Bureau of Labor Statistics, the Twin Cities currently has the lowest unemployment rate among major metros in the nation at 3.8 percent. The national rate dropped below 6.0 percent for the first time since 2008.

JUST SOLD - 1041 Eastview Circle

JUST SOLD!  

1041 Eastview Circle

 

This well-maintained 3BR 2BA twin home has no association fee!   Large room sizes, finished walkout lowerl level with a second kitchen, and a large flat backyard.   Nicely-maintained exterior.