Tag Archives: Real Estate

Minneapolis Metro Housing Market Shifts to Note in 2nd Half of 2014

This press release was originally published by PRWeb.

Home Destination finds several Minneapolis metro housing market shifts to note in the 2nd half of 2014 after the Department of Numbers and MAAR released recent Twin Cities housing data. Home Destination, a Minneapolis residential realtor with RE/MAX Results, shares the Minneapolis real estate reports and comments on what home buyers and sellers can anticipate till the year’s end.

Minneapolis, Twin Cities Minnesota (PRWEB) July 20, 2014

Minneapolis metro housing market shifts to note in the 2nd half of 2014 from reports released by theDepartment of Numbers, and MAAR reveal critical shifts in the Twin Cities housing market trends.

“Midway through the year, The Twin Cities home sales are beaten by last year’s by almost 10 percent after foul weather dampened the spring housing market season,” says Jenna Thuening, owner of Home Destination. “It is quite impressive that as Minneapolis home prices and listings continue to rise, there’s a positive optimism that the second half of the year will be strong.”

According to a report from the Minneapolis Area Association of Realtors for the week ending July 5, three sets of housing data show remarkable improvements.

  • The number of new real estate listings increased 14.8% to 1,269
  • Pending home sales improved 17.4% to 1,045
  • Available housing inventory increased 7.7% to 17,587

Additionally, here are 5 Shitfs in the Twin Cites Housing Market according to Home Destination’s summary of the two reports.

1. Asking Prices Homes Listed In Twin Cities Real Estate Improve

At the halfway point in July 2014, there were approximately 19,056 single-family residential homes and condo dwellings on the market for sale in Minneapolis Minnesota. The median asking price by sellers for these properties ran near $253,525, according to the report. “Since this time last year, the inventory of homes for sale has increased by 33.4%, and the median price has increased by 7.9%.”

2. Uptick in Available Twin Cities Real Estate Listings

June closed with 8,315 new Twin Cities real estate listing added to the market, making it easier for home buyers to find the home they want. If one compares the number of homes available to this time one year ago, housing inventory is up 8.9 percent. With more to choose from, Twin Cities home buyers who hoped to find what they want are pleased. While bidding wars still erupt, buyers have more choices than available in some time.

3. Upswing in Pending Sales of Traditional Homes

New consumer optimism stems from the drop in Twin Cities home foreclosures and short sales, which has weighed down several aspects of the housing market. In June, there was an inspiring up swing of 12 percent in pending sales of traditional homes, which is given credit for helping median home values rise 4.7 percent to $219,000. Overall, however, sales in June were down 2.2 percent to 5,531 sales.

4. Better Clip in the Time It Takes to Successfully Sell a Home

The month of June 2014 saw a drop from 73 days on the housing market till sale in 2013 to 71 days. That is a +2.8% improvement that permits sellers to close the deal and move on to the next home at a better pace. This means that sellers must be prepared to move to another home in less time. This indicator suggests a transition from rapid recovery toward a steady pace that should mean stability.

5. More Homeowners are Above Water With Sufficient Home Equity to Move

Housing data found back in June of 2013 places the median home sale price at $185,000. This June, Twin Cities home sellers’ median home price for a sold home was $191,550, a welcome increase of 3.5%. The average home sold for $223,503 in June 2013 and for $237,404 in June this year, a significant change of +6.2%.

“Yes there’s more inventory, but not in all areas or price points,” stated Minneapolis Area Association of Realtors president Emily Green in the June 11 article titled Twin Cities Has Largest Pool of Homes for Sale in Almost a Year. “This market has been supply-constrained for long enough, but the trend is moving in a positive direction.”

“When talking to prospective clients, most home buyers and sellers seem to be more confident about real estate. The steadiness of the Twin Cities housing market climb upwards seems more trustworthy to many than if we had astonishing highs,” adds Thuening. “Being rated again as one of the top cities to live in the entire U.S makes Minneapolis residents appreciate what we have more.”

Home Destination has been regarded as a competent Twin Cities Realtor for over 15 years. Minneapolis homeowners who are interested in selling a home can call Jenna Thuening for free, no-obligation market analysis at 612-396-7832.

Read the original press release publication on PRWeb.com.

Minneapolis Real Estate Market Conditions Heading Into Summer 2014

Minneapolis Real Estate Market Conditions Heading Into Summer 2014 (via PRWeb)

Minneapolis real estate market conditions heading into summer, while mixed, offer a positive outlook for prospective home buyers and seller, according to MAAR’s summary of May’s housing data. Home Destination, a Twin Cities residential Realtor with…

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Minnetonka

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Whether it’s exploring the waters of colossal Lake Minnetonka or shopping at one of the 140 retail stores at Ridgedale Center, it’s no wonder why an increasing number of Minnesotans have chosen Minnetonka as their place to call home.
Besides serving as an entry point to the massive Lake Minnetonka, Gray’s Bay, the only part of Lake Minnetonka within the City of Minnetonka, is also the source of the Minnehaha Creek. The site is also a shoreline restoration are where invasive plants have been removed and replaced with boulders, logs and native flora to act as a natural filter to help preserve wildlife and water quality. This entry point is a great destination for those with canoes looking to get away from any motors, acting almost like a metro-area boundary waters for anyone feeling up to a winding and scenic 22 mile trek to Minnehaha Falls.

10210181584_5dd11dc8d6_cThose looking to keep their feet on land will find plenty of beautiful scenery as well. A drive or walk along the coast of Gray’s Bay acts as a tour of some of the most stunning homes in the metro area. With residential property on the lake at such a commodity, buyers are more than willing to shell out some extra money to be in such a prime location on one of Minnesota’s most famous lakes. Not that the homes themselves need any more reason to be on the pricier end. With many of the lake homes valued at over three million dollars, the opportunity to find luxury real estate is there for those diligent enough to snag one of these gorgeous homes.

10210391665_0b24865964_cA local favorite, the Gold Nugget Tavern and Grille, offers an interesting blend of a down-home bar and fine dining. The food is all made from scratch and presented with as much care as you’d see at an expensive fine restaurant. The history of the Gold Nugget is also very telling of how valued it is in the community. It was only reopened after some convincing by the neighborhood after the owner died. After a change in location and an upgrade to what the waitress says was considered “a dive,” the Gold Nugget continues to live on, offer great food and serve as the only bar in the Glen Lake neighborhood.
A great resource for residents is the Minnetonka Script, a newsletter that offers a wide variety of programs and services for those over the age of 55. From a wine making class to practicing Tai Chi to extended trips to Chicago and New York for the holidays, there’s no shortage for those looking to learn something new or plan a fun outing with friends.

10210402883_c784e4b779_cMinnetonka’s 49 community parks and 81 miles of sidewalks and trails also offer plenty of running room for residents. Among the most unique of these parks in Bennett Family Park which offers eight baseball diamonds of varying sizes and holds league games for baseball players of all ages.
With the majority of Minnetonka’s land being used for residential housing, there is certainly no shortage of homes to choose from. Whether you’re in the market for a starter home with close proximity to parks and trails or a fortress of luxury on the lake, Minnetonka’s spectrum could be considered for just about any type of buyer.

Neighborhood Resources


Minnetonka Schools

Faith Communities
 Hopkins School District  Adath Jesherun Congregation
 Minnetonka School District  All Saints Lutheran Church
 Wayzata School District  Bet Shalom Congregation
 International Spanish Language Academy (ISLA)  Bethlehem Lutheran Church
 Immaculate Heart of Mary  Cross of Glory Baptist Church
  Minnetonka Christian Academy  Fairview Evangelical Lutheran Church
 Sleepy Tigers Chinese Learning Center  Faith Presbyterian Church
 Good Shepherd Presbyterian
 Immaculate Heart of Mary
 Jehovah’s Witnesses
 Lutheran Community of Grace
 The Mills Church
 Minnetonka Lutheran Church
 Minnetonka Seventh Day Adventist Church
 Minnetonka United Methodist Church
 Oak Knoll Lutheran Church
 Old Apostolic Lutheran Church
 Redeemer Bible Church
 Ridgewood Church
 Sharei Chesed Congregation
 Slavic Baptist Church of Transfiguration
 St. David’s Episcopal Parish
 St. Luke Presbyterian Church
 St. Paul’s Lutheran Church
 West Oaks Community Church

Public Parks

Local Restaurants
 Big Willow  Bacio
 Civic Center  Pairings Food & Wine Market
 Lone Lake  Gold Nugget Tavern & Grille
 Meadow  Spasso
 Purgatory  Redstone American Grill
 Crane Preserve  Christos Greek Restaurant
 Hilloway  The Marsh
 Jidana  Ham’s Sandwich Shop
 Kinsel  Living Waters Market & Cafe
 Lake Charlotte
 Lake Rose
 Victoria-Evergreen

 

2013 Emerging Markets Homeownership Initiative & Fair Housing Summit

IMG_2845Realtors, lenders and other housing professionals braved the frigid temperatures Wednesday to get to the University of Minnesota campus in St. Paul yesterday. They weren’t there to attend class at the university, but they were there to learn. This was the site of the 2013 Emerging Markets Homeownership Initiative (EMHI) and Fair Housing Summit. Those in attendance came to gain a better understanding of how diversity and cultural understanding play a key role in the world of real estate.

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The summit kicked off with a welcome from Julie Gugin, Executive Director of the Minnesota Homeownership Center who gave a rundown of the day’s scheduled events and thanked the crowd for taking the time to become better educated by taking part in the summit. The floor was then given to RNR Realty International’s broker, Nene Matey-Keke, the Vice Chair of the Diversity Committee of Minnesota Association of REALTORS® (MNAR). Matey-Keke offered an introduction to Christine Berger, Vice President of Governmental Relations at MNAR.

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The first speaker of the day was the keynote speaker for the event, Dr. Mai Moua of Hmong American Partnership. Moua focused on how our own unique culture and history shape how we view the world. A sketch of two (or three to some) figures was presented as part of an activity. The audience interpreted the sketch in different ways and the activity showed how a single image could be seen in drastically different ways based on an individual’s cultural frame. Moua spoke about highlighting three basic questions: What am I seeing? What am I not seeing? And what are the possibilities? She explained how asking these questions should be used in our everyday lives to look at the often-unnoticed cultural influences on our thoughts and actions towards others.

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The summit also featured three rapid learning sessions related to working with emerging markets. The three sessions offered education on how to deal with predatory lending, the Federal Housing Administration’s new “Back to Work” Program and Minnesota Housing loan options, entry costs and down payments. Attendees were offered a crash course on each of the topics and given information on how to learn more about each subject.

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Past President of the National Association of Hispanic Real Estate Professionals, Jerry Ascencio was also asked to speak at this year’s summit. Ascencio spoke about his personal connection to the real estate industry and told stories of growing up in California after moving from Mexico. He talked about the fact that his father never bought real estate based on “basic financial illiteracy” and misconceptions of purchasing real estate in the US. Ascencio related this story to the idea that realtors, lenders and housing professionals can work to educate those new or unfamiliar to the system. He then spoke about how one of the first goals as a real estate professional was to get his parents into a home they could proudly call their own.  Ascencio also expressed how home ownership in the US is a common goal that spans across all cultures, one that offers stability and security, especially to those moving from outside the US.

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The summit concluded with a breakout session where people were encouraged to attend one of three classes or their choosing. The classes offered covered the topics of understanding home ownership disparities among racial and ethnic groups, the best and worst fair housing cases and a class on fair housing continuing education credit.

With an extensive agenda featuring knowledgeable presenters, the 2013 EMHI & Fair Housing Summit proved to be time well spent for those seeking to learn more about working with diverse groups and different cultures seeking to become home owners in today’s real estate market.

Maple Grove, Minnesota

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Located on the northwest corner of the metro area, Maple Grove plays several key roles in the region – acting as a retail hotspot, a hub for medical clinics and a major employer (Boston Scientific alone employs over 2,500 people) for many Minnesotans in the metro area. It’s no wonder why Maple Grove has become one of the fastest growing suburbs in the metro area.

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The Maple Grove Community Center, connected to Life Time Fitness and next door to the Maple Grove Library, offers plenty of activities to keep every member of the family busy. With over 835,000 annual visitors, the center is home to Grove Aquatic Center, providing swimmers of all ages with lap lanes, a rope swing, a 130-foot waterslide, a smaller slide for the little ones and an outdoor pool with a lazy river for relaxing in the summer sun. For children 12 and under, the Maple Maze offers a jungle of tubes to crawl and play to their heart’s content. Outside, the center features a newly added cement skate park that is free and open to the public.

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The Town Green Amphitheater, also on the grounds of the community center, features a beautifully constructed bandshell and has seating for 300. The amphitheater provides the perfect place for summertime music, dance and theater performances.

Parents will also find ways to participate at the center. The Maple Grove Farmers Market runs from June through October outdoors and provides fresh, vendor grown food as well as activities and entertainment for all ages. During the winter months, the market relocates to warmer weather indoors with a handful of dates in November and December.

10057111316_b419ef2e96_c Maple Grove also offers a great selection of public parks and trails. Elm Creek Park Reserve is the largest park in Maple Grove and features access to Rush Creek and Medicine Lake Regional Trails for lakeside hiking and biking and a man-made, filtered and chlorinated swimming pond. The park also has an 18-hole disc golf course that is turned into a tubing hill and terrain park, complete with a rental facility and concessions, for snowboarders and skiers in the winter.

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Looking to do some shopping in Maple Grove? You’ll find no shortage of opportunities at The Shoppes at Arbor Lakes and The Fountains at Arbor Lakes. With over 260 stores and services, Maple Grove offers some of the best shopping in the area with higher-end retail stores that you’d be hard pressed to find outside of the Mall of America or downtown Minneapolis.

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An abundance of restaurants can also be found alongside the many shopping areas in Maple Grove. Ranging from barbeque to sushi, the long list of places to grab a bite is sure to keep residents and visitors full for the foreseeable future. While there’s no shortage of chain restaurants to choose from, those seeking out a local establishment unique to the area will be rewarded upon discovering the home-style breakfasts at The Original Pancake House, the savory steaks at Pittsburgh Blue Steakhouse, the delicious flatbreads at 3 Squares Restaurant or a burger and a beer while watching a band at Maple Tavern.

Maple Grove also serves as a major medical hub. Fairview Clinic, North Memorial, Maple Grove Hospital, Allina Medical Clinic and Park Nicollet Clinic all operate within Maple Grove to provide medical services to the community and surrounding cities.

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Attributing to the continuing fast growth of the area, the Maple Grove Transit system offers quick and easy commuter express rides to and from Minneapolis and the University of Minnesota as well as a local dial-a-ride service.

Residents of Maple Grove can also take pride in ranking at #22 on Money Magazine’s 2012 list of the 100 best small cities in America. Townhomes, condos, residential and commercial properties are booming in development and it’s no surprise why. With Minneapolis just a quick 20-minute drive or bus ride away, the option of a trip to the big city is always there, but with a vast selection of retail, dining, a top-notch medical network and a strong community base, it’s a wonder why anyone would ever want to leave.

Neighborhood Resources


Maple Grove Schools

Faith Communities
 Birchview Elementary School  Advent Lutheran Church
 Gleason Lake Elementary School  Christ’s Community Church
 Greenwood Elementary School  Church of the Open Door
 Kimberly Lane Elementary  Cross Winds United Methodist Church
 Oakwood Elementary School  The Edge Christian Fellowship
 Plymouth Creek Elementary  Elm Creek Community Church
 Sunset Hill Elementary  Grace Free Lutheran Church
 Central Middle School  Grove Christian Center
 East Middle School Harvest Bible Chapel West Minneapolis
 West Middle School  The Hindu Temple of Minnesota
 Wayzata High School  Jehovah’s Witnesses
 Basswood Elementary  Lord of Life Lutheran Church
 Birch Grove Elementary School for the Arts   Maple Grove Covenant Church
 Cedar Island  Maple Grove Evangelical Free Church
 Crest View  Maple Grove Lutheran Church – ELCA
 Edinbrook  Maple Ridge Church
 Elm Creek  New Life Community
 Fair Oaks  Northwood Community Church
 Fernbrook  Passion Church
 Garden City  Pathways Church of Maple Grove
 Oak View  Pilgrims United Church of Christ
 Palmer Lake  Redeemer Lutheran Church – WELS
 Park Brook  St. Joseph the Worker Catholic Church
 Rice Lake  Shepherd of the Grove Lutheran Church
 Rush Creek  Victory Baptist Church
 Weaver Lake
 Woodland
 Zanewood Community School
 Brooklyn Junior
 North View Junior International Baccalaureate World School
 Osseo Junior
 SUCCESS Middle Level ALC
 Maple Grove Senior
 Osseo Senior
 Park Center International Baccalaureate World School
 Osseo Area Learning Center

Public Parks

Local Restaurants
 For a complete list of Maple Grove parks, follow this link: http://maplegrovemn.gov/parks-and-recreation/parks-and-trails Solos Pizza Cafe
Mongo’s Grill
Granite City
Dave & Busters
Benihana
Rodizio Grill
Biaggi’s Ristorante Italiano
Malone’s Bar & Grill
Houlihan’s
Buca Di Beppo
Sawatdee Bar & Restaurant
Claddagh Irish Pub
3 Squares
Famous Dave’s
Broadway Bar & Pizza
El Rodeo
Angeno’s Pizza & Pasta
Whirly Ball
Hong Kong
Kyoto Sushi & Hibachi
JC’s Bar & Grill
Frankie’s Chicago Style Pizza
Chin Yung
The Lookout Bar & Grill
Evergreen Gill & Spirits
Maple Tavern
China Dragon
Chanticlear Pizza
Which Wich Superior Sandwiches