Bubble Bubble Toil and Trouble

I believe that the more information consumers have, the better informed they are about their choices, the happier they are and that ultimately makes my job more rewarding. In my experience Bubble Bloggers, as a rule, have an axe to grind. And they have at least three things in common:

1.) They Hate Realtors
2.) They Rent rather than Own.
3.) The ignore facts that disprove their theories.

But hey - people - could say they same types of things about people in the Real Estate Industry. It's all about your own point of view.

For example, a Bubble Blogger will say the current slowdown in the market is indicative of a new trend, one in which values will start to fall.

But when you look at the facts - that over the entire history of property ownership in the United States values have ONLY gone up, over time, they simply ignore it. They point to a downturn on the Japanese Real Estate Market that lasted 14 years and say : "it will happen here."

Well, saying it won't make it so.

I recently read an EXCELLENT REPORT put out by the Minneapolis Area Association of Realtors Research Manager Jeff Allen and it had MANY INCREDIBLE STATISTICS that I will be happy to share with you over the next few weeks.

Here's a taste, for now, of one that blew my mind.

The average sale price in the Twin Cities through the years.

1980 $74,069
1990 $98,016
2000 $181,605
2005 $272,522
2006 $278,462

Wait a minute?!? Didn't the market collapse last year?

You see my point, now have a look at theirs, and please note who states fact over opinions...

Housing Bubble Blogs

From InmanWiki

There are many real estate and economics blogs that focus on research and discussion relating to housing bubbles (see United States housing bubble), also known as real estate bubbles. Some of the blogs are focused on local or regional housing markets while others have a national view.

These blogs typically offer opinion and analysis, and some of the blogs in this broad genre generate income through advertising, draw thousands of unique visitors each day, and can collect hundreds of comments on a single blog post.

A blog at the patrick.net site, "Reality Parser," is one of the most popular bubble-related real estate blogs. The site is maintained by Patrick Killelea, an engineer who works on programming for a large bank.

"The Housing Bubble: Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole," is another popular housing bubble-related blogs. The site's author, Ben Jones, residents in Northern Arizona.

Also among the list of housing bubble blogs:

"Baltimore Metro Area Housing Blog: A forum for the under-reported housing market conditions in the Baltimore Metro area." This blog focuses on the city of Baltimore and surrounding counties.

"Bubble Meter: A blog dedicated to the premise that there is a Housing Bubble in many locales in the USA." This blog, based in Maryland, has "a particular focus on the: When will it pop? Why will it pop? How will it pop? Where will it pop? Who is responsible for the bubble? Also the DC Metro Area bubble," according to a Web site description.

"DC Housing Bubble Blues." This site was created by Delilah Boyd.

"Housing Doom Housing Bubble Blog: The housing bubble has burst -- what happens next?" This blog was created by Debi Averett, aka "Twist," who is a research scientist with a master's degree in botany. Averett lives in the Phoenix metro area.

"Housing Panic: The Housing Bubble Blog with Attitude."

"The Jersey Shore Real Estate Bubble: A chronicle of the collapse of the Jersey Shore real estate market, and elsewhere."

"Professor Piggington's Econo-Almanac for the Landed Poor: Southern California Housing Bubble News and Analysis." Rich Toscano, a financial advisor in San Diego, created this blog in 2004.

"Southern California Real Estate Bubble Crash," created by an Orange County, Calif., resident who uses a "John Doe" alias.

"Southern Maryland Housing Bubble News: Dedicated to Tracking the Housing Bubble as it Pops."

"Seattle Bubble: News and discussion about the real estate and housing bubble, specifically as it pertains to the Seattle area." Timothy Ellis, an electrical engineer in Kenmore, Wash., created this blog in August 2005.

Inman News reported on housing bubble blogs in this report: "The rise of real estate bubble blogs: Bloggers offer research, counterpoint to 'industry speak,'" on Feb. 12, 2007.

Weekly Market Activity Report

Small signs continue to point to change in buyer activity in the Twin Cities housing market. Sales remain down compared to one year ago but are once again declining at a smaller degree than seen in the past 12 months. For the week ending February 3, new listings were statistically even with this time in 2006 and pending sales were 8 percent behind. With improved absorption, housing inventory is increasing at a slower rate than last year. There are currently 26,000 homes for sale in the region, up 15 percent over this time last year. (MAAR)

Foreclosures on the Rise

I am troubled by the rising foreclosure rate we are seeing today. We can point fingers at Mortgage companies that peddle bad programs or Buyers that bite off more than they can chew but that does nothing to solve this problem.

Instead I like to concentrate on SOLUTIONS.

If this is an issue for you and you live in Minneapolis, you should know that help is available:

Don't Borrow Trouble

Minneapolis is very committed to helping homeowners who are in jeopardy of losing their home due to foreclosure. If you’re facing a possible foreclosure visit the Don’t Borrow Trouble Minnesota Web site or call 311 from anywhere within the City to be referred to a counseling agency. The earlier you make this call, the better your chances are to avoid losing your home. You can also call Habitat for Humanity at 612-331-4090 (if you home is in south Minneapolis) or Northside Residents Redevelopment Council at 612-335-5924 (if your home is in north Minneapolis) or call the Homeownership Preservation Foundation at 1-888-995-HOPE.

Click here for more info!

Buy Your First Home with NO MONEY DOWN!

I work with a lot of First Time Buyers and the one thing that consistently surprises then is the fact that they may very likely be able to purchase their first home with No Money Down! It may sound too good to be true, but with the right credit scores and working with the right lender, it really is possible.

And this is becoming a national trend. A recent Keith Harney article reports that:

From mid-2005 to mid-2006, according to a statistical sampling of a representative group of 7,548 purchasers, nearly half of all first-time buyers financed the entire transaction, obtaining mortgages in the full amount of the home price. About 30 percent put down 10 percent or less, and 20 percent put down 5 percent or less.

The research was conducted by the National Association of Realtors, using information on home transactions supplied by Experian, a major credit and realty data firm. The median down payment of first-time purchasers, according to the study, was just 2 percent. In other words, the median-sized mortgage for first-timers represented 98 percent of the home purchase price.

So before you assume that your first home is out of your reach, do yourself a favor and learn about the many loan programs that are out there for first time buyers. But be careful, the one thing you don't want to do is get yourself in a place you can't really afford. Take the time to sit down, look at the numbers and make sure it makes sense to you!

Buyer Beware!

Amusing bit of "Investigative Journalism" on FOX 9 the other night about a dude who got ripped off by a Loan Officer and Agent who were running some kind of scam. His mistake? He thought he could make a quick buck by posing as a buyer and participating in a Loan Fraud. You hate to see someone get burned but it is hard to feel sorry for him. Check it out here.

Existing U.S. home sales said to improve

UPI REPORTS:

Existing U.S. home sales will rise over the next two years, while new-home sales and construction will remain subdued, a realty association said Wednesday.

Existing-home sales will reach 6.44 million in 2007 and 6.64 million in 2008, the National Association of Realtors said.

In 2006, existing-home sales hit 6.48 million, the third-highest total, the association said.

New-home sales, after reaching 1.06 million in 2006, will weaken to 961,000 this year and rise to 971,000 in 2008.

Housing starts are likely to reach 1.52 million in 2007, down from 1.8 million in 2006, and then climb to 1.56 million next year, the association said.

The association forecast 2007's national median existing-home price would grow 1.9 percent to $226,200, after rising 1.1 percent in 2006. The median new-home price is expected to increase 1.8 percent to $249,800 following a similar 2006 gain, it said.

KARE 11 Sweeps Story Distorts Issue - Go Figure!

I caught a recent sweeps Extra on KARE 11 by Rick Kupchella that really proves theory most people in Real Estate have - 90% of the coverage we get is either negative or outdated.

This report was BOTH.

Rick not only wears a rather questionable tie in the opening of this journalistic "piece" he contradicts himself.

Early on he asserts that:

For most Minnesotans, housing is the place where we have most of our money invested.

But just how much money we have there is in question these days, with the market in decline.

While there certainly is some truth to this statement (the market has slowed but we have not lost any ground on values) he reports later in the same story that:

Heidi Olson and Andrew Stoltmann lost two homes to competitive bidders in recent weeks, despite their bidding over the asking price.

and

Prices are high and surprisingly unwavering despite the slowdown in the market.

So which is it Rick? A market in "decline" or one where prices are holding and competition among buyers is heating up?

Sounds to me like he's trying to put a negative spin on a story that is actually improving. Most analysts agree that the market bottomed out LAST year...but yesterday's news does not a good sweeps week make!

It doesn't help that Rick interrogates Glenn Dorfman the "El Presidente for Life" of the Minnesota Association of Realtors (MAR). Glenn manages to insult the public telling them they are stupid to consider their homes an "investment" (which is what they are for many people - as well as being their home) and then in the next he's talking about a 2-5% return on their, um, investment!?!

In the end Rick sums up his story - about the DECLINING Real Estate Market by saying Buyers waiting for prices to fall are wasting their time.

The sad thing about this is that the take-away for most viewers is that the Real Estate Market sucks (it doesn't) and you should be afraid to make a move.

Fear & Loathing, the essential ingredients to most Sweeps Week Stories.

Here's a link in case you want to check out this story.

I smell Pulitzer!

Is Technology Out to Get Realtors?

WILL ZILLOW KILL THE REAL ESTATE STAR?

I love technology. It makes my job easier every day. I am amazed at how effectively I can communicate with friends, clients, and others all from the cozy confines of my home office. So when Zillow hit the scene, why was I frightened? I think when you look at all the information that is available on the Internet for Buyers and Sellers a person could come to the conclusion that people don't NEED Realtors and the truth is...THEY DON'T!

At least not Agents who do little more than stick a sign in the yard and wait for someone else to sell your home. Certainly not Agents who pressure Buyers into homes they really don't want or need.

But in this info age where even RECENTLY SOLD LISTINGS are made openly available to the Public I have to say I am actually very happy. I think one of the negative opinions of Realtors evolved from the fact that at one time we were the Gatekeepers of Information. If the public wanted to see a listing, or even see what was on the market, they had to come to us. I think it must have helped create kind of dis-connect and bred a bit of smugness among agents. Easy for me to say, since I wasn't an Agent back then...and I certainly don't want to join in on the seemingly growing chorus of voices who have fun kicking dirt on my profession --believe me I know how hard the job is! But I think things like Zillow are great. Give the people all the information they need to make the right decision for themselves and they will be happy.

Our jobs, as Realtors, in my humble opinion is to provide the best possible service. We are the human element that can make a daunting task like buying or selling a lot easier- because- we are human. Technology will never replace what good Agents do. Whether it's showing people listings, providing our experience as negotiators, or just Listening to our clients, we will always be an essential ingredient that most people (but not all) will find worth it. So...will Zillow destroy us? They said the same thing about the Internet! Here's an excerpt from a recent article. Enjoy!

(Fortune Magazine) -- This is what usually happens the first time you visit Zillow.com: You type in your address to check out the Zestimate, an approximation of your home's market value. It appears in a little pop-up superimposed on a photographic map of your neighborhood. The number might make you smile; it could make you angry.

Next, you realize that the information on your property is incomplete. What about the kitchen upgrade? Your new deck? The landscaping? All that work's gotta count for something. You've spared no effort to convince the assessor that your house is worth less than the official report, but now it's time to primp. So you tap in some modifications and watch your home's value rise.

Next, you check your neighbors' Zestimates. Then your childhood home, a best friend's place, your boss's house. Just as you open your address book in search of more targets, your spouse calls out from the bedroom, wanting to know what the hell you've been doing for the past two hours. "Nothing, honey," you say, shutting the laptop and trudging off to bed, caught red-handed in a loop of real estate yuppie porn.

If you haven't heard of Zillow by now, it's probably because you don't own a home. Or maybe you're just not as prurient and narcissistic as the rest of us. The national real estate market is in flux: Prices fell last autumn; new-home sales have risen for the past two months.

But what does that have to do with you? Zillow knows. With 52 million house valuations across the U.S., the site attracts as many as four million visitors a month. In less than a year since launch, the Seattle company has become one of the Internet's biggest real estate destinations. There are many listing sites on the Web, but Zillow is more of a media play. It makes money by selling ads to brokers, banks, contractors, appliance retailers and anyone else interested in reaching data-obsessed homeowners and -buyers.

And now the company is trying to create something even more ambitious: a perfect market for real estate. Mix E*Trade, Craigslist and the Multiple Listing Service together, and you begin to get the idea.

More Signs the Market is Improving?

Some encouraging news from the Minnesota Area Association of Realtors (MAAR):

Weekly Market Activity Report

While pending sales remain down, there are signs pointing to the end of an expanding buyer's market. However, this does not foreshadow a quick turnaround in market conditions, as that will likely be slow in its creation and gradual in its effect. For the week ending January 27, new listings were 5 percent behind the same week in 2006 and pending sales were 12 percent behind. While sales remain slower than last year at this time, they are behind at a lower rate than the market has seen in recent months, indicating a settling in the decline of buyer activity.

Continued moderation in new sellers will aid in the needed absorption of excess inventory. There are presently about 25,000 housing units for sale in the Twin Cities region, up only 16 percent from this time last year. The year-to-year inventory comparison reached a peak of 40-plus percent growth in the summer of 2006 and has been steadily declining ever since.

Would-be buyers are now renting

Once again the Strib has an article about the changing real estate market. They make some interesting points here but I wonder -as a person who rented for over 10 years and now owns my own home - if there's ANYONE out there who really thinks that renting is preferable to buying, especially over the long term. Certainly if you plan to move frequently it might make sense to rent but if you plan on living in a place for even as little as 3 years, buying is really going to serve you better.

Here's an excerpt:

For the first time since the housing boom, rental property owners are seeing relief from rising vacancy rates and stagnant rent prices.

Instead, growing numbers of prospective home buyers are choosing to rent, in some cases because they have been priced out of the market or are worried about getting into a market that doesn't offer a guaranteed profit.

And that is causing vacancy rates to fall, rent prices to rise and apartment building construction on a scale that hasn't been seen in years.

For renters, that means no more flat-screen TVs and free-rent offers. Instead, they will probably be facing rent increases and stricter lease terms.

"For me, it's kind of scary because you don't know which way the [housing] market is going to turn," said Lisa Litzinger, a renter who scrapped plans to buy a house in December. "You just don't want to make the wrong decision right now."

My answer? Over time the housing market in this country ALWAYS goes up. You always need to factor in location and condition but if you buy smart, and are not forced to sell to soon after buying, you really can't lose!

REAL ESTATE LINK ROUND UP

Here's some a few excellent articles on the current Real Estate Market. Enjoy!

Navigating the Home Maze
Great tips for Buers and Sellers

Has the Housing Market Bottomed Out?
Common sense on all the Bubble Talk.

Inman News launches online real estate wiki

Inman News today launched InmanWiki, the world's largest searchable online real estate encyclopedia where consumers and real estate professionals can research articles, create entries and discuss today's hottest real estate topics.

The Spring Market Kicks Off this Sunday!

Superbowl Sunday is the "Unofficial" Kick-Off to the Spring Market in Minnesota.

This year with the record numbers of inventory we have on the market, getting an early start can make all the difference.

If you have been considering putting your home on the market is April & May, you may want to consider moving things up. You'll have less competition and Buyers can take advantage of the great rates-while they last!

But this weekend, kick back and enjoy the game.

Colts by 10.

Economic Indicators and Forecasts

Tools for Helping You Watch the Housing Market
The following links are useful and insightful ways for you to gauge the ebb and flow of the current housing market. I certainly hope you find these useful!

• Current NAR Forecast: Contains a summary forecast table for key economic and housing variables. (27K PDF file)
  
  
• Economic Indicators: NAR's analysis of economic indicators provides its members with the tools to interpret economic trends and apply that knowledge to their business. NAR Research analyzes the most important economic indicators that influence the real estate markets. These indicators include but are not limited to mortgage rates, new home sales, consumer confidence, Gross Domestic Product, personal income and consumption levels.
  
  
• Real Estate Insights: This free web-based publication provides timely economic news, forecasts and trends of today's real estate market. Included are insightful commentaries by NAR's Chief Economist, Dr. David Lereah. Bookmark this site today! You can even download the print version of the new content each month.
  
  
• 2005 NAR Profile of U.S. Real Estate Markets: This report reviews the economic and market conditions underlying the U.S. real estate market in the recent past and provide an outlook for the upcoming year. Major economic indicators are discussed in the first section. The housing market conditions are then examined, including housing stock, home sales and sales prices. Finally, the performance of the commercial real estate market is evaluated.
  
  

GREAT NEWS on NOKOMIS AIRPORT NOISE LAWSUIT!

From the StarTribune:

Judge: MAC broke noise deal

The Metropolitan Airports Commission agreed to insulate houses in Minneapolis, Richfield and Eagan from jet noise but failed to honor its commitment, a Hennepin County judge ruled. The trial begins Feb. 12.

The Metropolitan Airports Commission (MAC) broke a commitment to provide full soundproofing to thousands of homes in violation of its own noise-abatement standards, a Hennepin County judge ruled Thursday.

But Judge Stephen Aldrich said it would be premature to decide before trial on what remedy should be given to the homeowners in Minneapolis, Richfield and Eagan, although he clearly said they deserve one.

"The residents living near [the Minneapolis-St. Paul International Airport] are entitled to an indoor escape from the noise that they bear for the benefit of all Minnesotans," he wrote.

Minneapolis Mayor R.T. Rybak said it was one of his "happiest days" as mayor. "It's taken years and thousands of dollars," Rybak said, "but we were able to prove the Airports Commission can't run over citizens who were promised pollution protection."

A pretrial conference is scheduled today in the suit filed by the three cities, with a trial scheduled to begin Feb. 12.

Aldrich ruled against a request from the Airports Commission and Northwest Airlines -- which had intervened -- to dismiss the case.

The suit affects 492 homes in Eagan, 845 homes in Richfield and 4,291 homes in Minneapolis -- all in a zone where average noise is between 60 and 64 decibels.

MAC spokesman Patrick Hogan said he has many questions about the complex 39-page ruling.

"We're very disappointed," Hogan said. "We believe we have fulfilled all our obligations to insulate homes around the airport."

More than 7,800 homes subject to noise of 65 decibels and higher have already been fully insulated by the Airports Commission, which owns and operates the airport.

Full soundproofing costs about $45,000 per home and includes wall insulation, new windows and doors, roof baffles, furnaces, duct work, and air-conditioning -- all designed to muffle jet noise for those living under flight paths.

In their suit filed in April 2005, the three cities argue that the Airports Commission committed to doing complete soundproofing on homes experiencing noise in the 60-to-64-decibel range after the decision was made to expand the airport rather than move it.

The suit asks the court to order the commission to sound-proof the homes in Richfield, Minneapolis and Eagan.

Aldrich determined that the Airports Commission had reneged on a commitment to install a full noise-reduction package in the 60-to-64-decibel range.

"This court cannot allow the MAC to receive the benefits of a long fought over public bargain and then abandon its repeated commitments upon which so many people have relied," the judge wrote.

He said the commission's proposed remedy of only offering air-conditioning does not minimize noise effects as required by law.

In November 2004, commission board members had voted to scale back from the full treatment for homes in the 60-to-64-decibel range. Under a revised policy, it offered air-conditioning to 3,594 homes if their owners agreed to help pay for it.

The suit by the three cities followed. That's separate from a parallel class-action suit filed by homeowners against the Airports Commission.

Said Rybak: "We're going to continue to fight to make sure the Airports Commission delivers on its promise."

WCCO REPORTS GOOD NEWS ON TWIN CITIES REAL ESTATE!

Twin Cities Housing Market Improving

Bridgette Bornstein
Reporting

(WCCO) The Twin Cities Realtors Association said there is some evidence that the local market is on an upswing.

Realtors said January has been especially good for market activity.

The average sale price of a home in the Twin Cities in December was about $286,000, according to the Twin Cities Association of Realtors.

That's up 2.2 percent over the previous December.

At a time when the Twin Cities housing market seemed to be stalling, a house on Minnehaha parkway took off. It was recently sold and there wasn't just one offer -- there were three competitive bids.

"It came down to the right advertising. It came down to getting a house fully staged that's never been lived in," said Edina Realty realtor Daren Jensen.

It was more than just the great amenities. There's something else going on the market, some new energy. Daren Jensen has sold three properties already this month.

"Even though it may be a buyers' market, the sellers who are prepared and have their houses in tip-top order are selling and they're selling quickly," said Jensen.

Realtors say they've seen evidence of an upswing, especially in January. There have been multiple offers on homes, more activity on the web and at open houses.

Edina Realty said 80 percent of the serious buyers are looking at homes online. After surfing the listings for months, Shelley Buttkey's ready to buy. In fact, she plans to make an offer on a home tomorrow.

"I feel like I have more time to think about it where other friends that have bought years ago said they had to put an offer on the table right when they walked in," said home buyer Shelley Buttkey.

Realtors said the frenzy sellers enjoyed a couple years ago is over, and now the market is stabilizing.

"I think its great news for buyers and for sellers -- and interest rates are supporting everything. I think we're going to have a great year," said Jensen.

The affordability index has reached an 18 month high in the Twin Cities. That's more good news because it's a measure of how much home buyers can afford.

Edina Realty just pulled all their open house listings out of the Sunday papers. They're still doing newspaper advertising, but instead directing buyers to their online listings.

After surveying people who showed up at open houses, the real estate company found that most people were getting the information from the Internet.

REAL ESTATE TRENDS

Real estate 2007: What's in and what's out

Before you list your house for sale this spring, better check out this list of what's in and what' out for real estate this year. Author and trend-spotter Mark Nash surveyed more than 900 sales agents, brokers and executives and this is what they said.

The housing correction. Nationwide in 2007, project a 5 to 8 percent decline in sale prices for houses and condos.

What's in: Homes that are priced right. Look at only the sold comparables from the past six months. Forget the cocktail party chit-chat when all you heard was record prices.

Online home valuation sites (Zillow.com, etc.). Technology is great when it works, but tread carefully with online valuation websites.

Market timing. Many buyers and sellers were on their own timelines in 2006 and they missed opportunities by not recognizing the real estate market's ebb and flow. Spring is high market, summer is a good market, fall is fair and winter is the remnant market.

Savvy buyers. With interest rates historically low and pent-up demand from a soft year in 2006, the deals and lack of frenzy won't last long.

"Officetels." Home offices are on the rise, though those who work from one need more. Look for alternative work spaces such as hourly rentals of conference room-type spaces that offer technology and privacy.

Upscale garages. Today's garage owners want them decked out with cabinet and storage systems, mini-refrigerators, insulation, heating and air conditioning and durable but residential-looking flooring.

Caving. Man caves and mom caves are coming out of the closet. Personal dedicated space where one can go and work on projects or "chill."

Two home offices. Higher fuel prices and commuting times have created more two-work-at-home families. Make sure each is at least 10-by-10 feet.

Rejuvenation rooms. A one-stop space for exercising, meditation, yoga, sauna and fancy steam showers. Showers are going upscale, too, with waterfall fixtures, programmable temperature and water flow.

Heated patios, walkways and driveways. Baby boomers who are tired of shoveling are looking for ways to decrease winter maintenance.

Snoring rooms. Adjacent second bedrooms to the master, they offer relief from the "buzz saw" and an alternative to the couch.

Modular housing. Many think of the out-dated double wide as the typical modular, but modular options and quality have exploded.

Sustainable design. Energy conservation, indoor air quality and resource conservation.

Structured wiring. Must-haves for technology-based home buyers include coaxial TV cable (RG-6), category 5E voice and data lines, distributed radio and remote camera security.

Mixing finishes on kitchen base and wall cabinets. Matchy-matchy is out in kitchen design. The new look is to have stained-wood bases and painted-wood upper cabinets.

What's out: "As is" in home sale marketing. Anything went in the boom market, but if you're planning to use "as is" in 2007, forget it. Buyers see it as a red flag about the home and you the seller.

Buyer incentives. Free cars don't sell houses; realistic pricing does. Gimmicks only confuse and distract buyers.

Endless open houses. Desperation is when your home is open every Sunday. Buyers know and track it. Plan on every three weeks to have a public open house.

Over-full-price offers. One thing that won't change in 2007 is that every buyer will want a deal, and walk if they don't get one.

Bedrooms not large enough for a bed. In the boom, rehabbers and developers learned the fastest way to profit was to increase the room count. Bedrooms shrunk to walk-in closet size when a four-room one-bedroom was gut-rehabbed into a four-room two-bedroom.

Loads of glass upper kitchen cabinet doors. Buyers say it looks great, but many who specified and experienced it firsthand don't have the time to keep their kitchen cabinets organized. Plus, having more glass in a greasy room such as a kitchen is high-maintenance.

Bowl-shaped above-counter bathroom sinks. The splashing and overall upkeep have earned these the reputation of nice to look at, but don't want one.

Any shiny metal finish. Brushed nickel and pewter is in, antiqued and polished brass is out.

Stainless-steel refrigerators and dishwashers are a fading trend. The cold look and higher maintenance is shifting buyers to specify warmer colors in kitchen appliances.

Spiral staircases. The boomers have aged, their kids don't like them and they're unfriendly to pets and young children.

On the way out: Bamboo floors. Easily dented and scratched, and prone to warping from variations in our climate and humidity levels.

Hardwood laminate floors. Don't stand up to multiple sandings to change color or to remove stains.

Sellers who smoke in their home while it is being marketed. Buyers hate second-hand and stale smoke odors. Marketing your home is not the same as living in it.

Minnesota Real Estate 2006 in Review

Year end 2006 median sales price by municipality for residential

Metrowide, median home sale prices increased only 0.5 percent during 2006. See how sale prices faired in your community. Note that sale prices are heavily influenced by construction activity, which can skew the numbers in any given year much higher or lower than in previous years.

District Name	Total		Median		% Change
	Sales 06	Sales 05	Price 06	Price 05
Afton	24	23	$404,600	$470,000	-13.91%
Ainsworth	0	0	$0	$0	0.00%
Albertville	110	166	$233,000	$224,500	3.79%
Albion Center	0	0	$0	$0	0.00%
Albion Twp	1	0	$136,175	$0	0.00%
Albright	0	0	$0	$0	0.00%
Almelund	2	1	$136,700	$468,000	-70.79%
Amador Twp	1	0	$226,000	$0	0.00%
Andover	365	573	$273,000	$275,000	-0.73%
Annandale	94	135	$227,363	$203,900	11.51%
Anoka	221	241	$200,335	$203,222	-1.42%
Apple Valley	912	1061	$225,700	$222,500	1.44%
Arden Hills	73	141	$270,000	$229,500	17.65%
Baldwin	94	114	$164,100	$169,450	-3.16%
Baldwin Twp	7	2	$179,999	$245,600	-26.71%
Basswood Grove	0	0	$0	$0	0.00%
Bayport	19	28	$243,300	$218,000	11.61%
Baytown Twp	7	0	$485,000	$0	0.00%
Beardman	0	0	$0	$0	0.00%
Becker	125	177	$205,950	$218,800	-5.87%
Becker Twp	8	5	$245,450	$297,500	-17.50%
Belle Creek	0	0	$0	$0	0.00%
Belle Creek Twp	0	0	$0	$0	0.00%
Belle Plaine	161	196	$214,000	$216,075	-0.96%
Belle Plaine Twp	0	2	$0	$245,950	-100.00%
Bellechester	1	2	$79,000	$129,950	-39.21%
Belmond	0	0	$0	$0	0.00%
Belvidere Twp	0	0	$0	$0	0.00%
Benton Twp	0	0	$0	$0	0.00%
Bethel	10	19	$183,600	$195,000	-5.85%
Bettendorf	0	0	$0	$0	0.00%
Big Lake	294	443	$209,700	$203,300	3.15%
Big Lake Twp	29	14	$262,000	$247,312	5.94%
Birchwood Village	7	6	$475,000	$363,500	30.67%
Blaine	957	1088	$230,260	$226,000	1.88%
Blakeley	0	0	$0	$0	0.00%
Blakeley Twp	0	0	$0	$0	0.00%
Bloomington	1132	1213	$232,900	$233,500	-0.26%
Blue Grass	0	0	$0	$0	0.00%
Blue Hill Twp	0	0	$0	$0	0.00%
Branch	0	0	$0	$0	0.00%
Bridgewater Twp	0	0	$0	$0	0.00%
Brighton	0	0	$0	$0	0.00%
Brooklyn Center	436	475	$193,200	$195,000	-0.92%
Brooklyn Park	1205	1467	$230,825	$229,000	0.80%
Buffalo	317	421	$214,900	$201,000	6.92%
Buffalo Twp	0	2	$0	$235,000	-100.00%
Burkhardt	0	0	$0	$0	0.00%
Burns Twp	31	38	$340,000	$329,250	3.26%
Burnsville	810	1006	$233,780	$236,000	-0.94%
Cady Twp	2	1	$283,686	$164,900	72.04%
Camden Twp	0	0	$0	$0	0.00%
Cannon City Twp	0	0	$0	$0	0.00%
Cannon Falls	80	101	$216,500	$199,900	8.30%
Cannon Falls Twp	0	0	$0	$0	0.00%
Carver	82	51	$313,707	$299,400	4.78%
Castle Rock	0	1	$0	$177,100	-100.00%
Castle Rock Twp	0	0	$0	$0	0.00%
Cedar	6	7	$300,500	$210,000	43.10%
Cedar Lake	0	0	$0	$0	0.00%
Cedar Lake Twp	4	4	$482,500	$782,500	-38.34%
Center City	24	25	$265,000	$227,880	16.29%
Centerville	71	80	$250,000	$244,700	2.17%
Champlin	331	455	$232,500	$226,000	2.88%
Chanhassen	423	471	$293,000	$289,000	1.38%
Chaska	389	480	$232,000	$241,500	-3.93%
Chatham Twp	0	0	$0	$0	0.00%
Cherry Grove	0	0	$0	$0	0.00%
Chisago City	82	99	$222,750	$238,000	-6.41%
Chisago Lake Twp	14	10	$359,627	$314,500	14.35%
Circle Pines	88	99	$188,774	$194,900	-3.14%
Clarion	0	0	$0	$0	0.00%
Clay Bank	0	0	$0	$0	0.00%
Clear Lake	61	68	$238,000	$220,000	8.18%
Clear Lake Twp	0	0	$0	$0	0.00%
Clearwater	40	65	$175,686	$180,300	-2.56%
Clearwater Twp	2	1	$86,750	$189,000	-54.10%
Coates	1	0	$125,000	$0	0.00%
Cokato	56	66	$163,000	$166,700	-2.22%
Cokato Twp	0	0	$0	$0	0.00%
Cologne	37	49	$228,500	$245,000	-6.73%
Columbia Heights	244	338	$189,600	$189,950	-0.18%
Columbus Twp	25	19	$285,000	$250,000	14.00%
Coon Rapids	973	1326	$205,900	$206,100	-0.10%
Coppock	0	0	$0	$0	0.00%
Corcoran	36	57	$356,200	$335,000	6.33%
Corinna Twp	0	0	$0	$0	0.00%
Cottage Grove	527	604	$232,269	$229,900	1.03%
Crawfordsville	0	0	$0	$0	0.00%
Credit River	1	1	$285,120	$732,700	-61.09%
Credit River Twp	9	9	$749,990	$750,000	0.00%
Crystal	309	421	$198,000	$197,900	0.05%
Cylon Twp	2	0	$128,950	$0	0.00%
Dahlgren Twp	0	0	$0	$0	0.00%
Davenport	0	0	$0	$0	0.00%
Dayton	37	41	$502,315	$290,000	73.21%
Deephaven	33	45	$665,000	$510,000	30.39%
Deer Park	8	9	$170,250	$176,900	-3.76%
Delano	146	143	$262,500	$262,500	0.00%
Dellwood	5	14	$775,000	$628,450	23.32%
Denmark Twp	4	11	$489,238	$595,371	-17.83%
Dennison	5	5	$197,950	$157,000	26.08%
Devils Lake	0	0	$0	$0	0.00%
Dixon	0	0	$0	$0	0.00%
Donahue	0	0	$0	$0	0.00%
Douglas Twp	0	0	$0	$0	0.00%
Dows	0	0	$0	$0	0.00%
Dundas	21	26	$190,000	$194,750	-2.44%
Durant	0	0	$0	$0	0.00%
Eagan	1014	1291	$237,900	$231,050	2.96%
Eagle Grove	0	0	$0	$0	0.00%
East Bethel	117	170	$245,024	$280,200	-12.55%
Eau Galle Twp	3	2	$234,000	$213,450	9.63%
Eden Prairie	1151	1307	$289,000	$294,000	-1.70%
Edina	760	790	$388,250	$359,950	7.86%
Eldridge	0	0	$0	$0	0.00%
Elk River	442	524	$230,400	$235,000	-1.96%
Elko	43	47	$310,000	$347,000	-10.66%
Emerald Twp	4	1	$209,950	$189,000	11.08%
Empire Twp	2	0	$211,050	$0	0.00%
Enfield	0	0	$0	$0	0.00%
Erin Prairie Twp	0	0	$0	$0	0.00%
Erin Twp	0	0	$0	$0	0.00%
Eureka Center	0	0	$0	$0	0.00%
Eureka Twp	1	0	$400,000	$0	0.00%
Excelsior	36	39	$465,750	$420,000	10.89%
Falcon Heights	39	31	$277,700	$275,700	0.73%
Faribault	312	338	$172,050	$178,450	-3.59%
Farmington	517	650	$233,000	$229,900	1.35%
Featherstone Twp	0	0	$0	$0	0.00%
Fish Lake Twp	5	1	$295,900	$190,000	55.74%
Florence Twp	1	1	$292,500	$300,000	-2.50%
Forest Lake	293	356	$235,000	$255,000	-7.84%
Forest Lake Twp	1	2	$396,000	$354,900	11.58%
Forest Twp	3	0	$164,000	$0	0.00%
Franconia Twp	7	9	$335,000	$324,900	3.11%
Franklin Twp	2	0	$523,000	$0	0.00%
French Lake Twp	0	0	$0	$0	0.00%
Fridley	289	366	$209,950	$209,000	0.45%
Frontenac	4	1	$161,625	$138,000	17.12%
Galt	0	0	$0	$0	0.00%
Gem Lake	2	6	$288,500	$385,140	-25.09%
Germantown	0	0	$0	$0	0.00%
Glenwood City	27	19	$122,000	$146,000	-16.44%
Glenwood Twp	2	1	$176,975	$287,500	-38.44%
Golden Valley	278	391	$268,500	$261,500	2.68%
Goldfield	0	0	$0	$0	0.00%
Goodhue	13	12	$175,000	$181,000	-3.31%
Goodhue Twp	2	0	$410,298	$0	0.00%
Grant	35	19	$500,000	$480,000	4.17%
Grant Twp	1	0	$480,000	$0	0.00%
Greenfield	28	33	$542,500	$393,000	38.04%
Greenvale Twp	0	0	$0	$0	0.00%
Greenwood	10	13	$697,500	$775,000	-10.00%
Grey Cloud Island Twp	0	0	$0	$0	0.00%
Hader	0	0	$0	$0	0.00%
Ham Lake	147	198	$343,500	$360,172	-4.63%
Hamburg	9	11	$169,400	$189,900	-10.80%
Hamel	1	3	$310,833	$269,000	15.55%
Hammond	79	62	$166,000	$175,500	-5.41%
Hammond Twp	12	10	$235,901	$261,500	-9.79%
Hampton	19	32	$224,000	$243,500	-8.01%
Hampton Twp	0	0	$0	$0	0.00%
Hancock Twp	0	0	$0	$0	0.00%
Hanover	57	56	$300,400	$286,305	4.92%
Harris	47	41	$239,900	$240,000	-0.04%
Hartford	0	0	$0	$0	0.00%
Hassan Twp	3	6	$592,000	$403,000	46.90%
Hastings	320	431	$205,450	$210,000	-2.17%
Hasty	0	0	$0	$0	0.00%
Haven Twp	2	1	$548,000	$164,900	232.32%
Hay Creek	0	0	$0	$0	0.00%
Hay Creek Twp	0	0	$0	$0	0.00%
Hazelwood	0	0	$0	$0	0.00%
Helena	0	0	$0	$0	0.00%
Helena Twp	0	0	$0	$0	0.00%
Highland	0	2	$0	$317,450	-100.00%
Hilltop	1	2	$75,000	$154,700	-51.52%
Holden Twp	0	0	$0	$0	0.00%
Hollywood	0	0	$0	$0	0.00%
Hollywood Twp	0	0	$0	$0	0.00%
Hopkins	225	264	$205,900	$193,000	6.68%
Houlton	8	7	$340,700	$275,000	23.89%
Howard Lake	39	66	$167,900	$175,450	-4.30%
Hudson	428	433	$242,950	$250,000	-2.82%
Hudson Twp	18	21	$342,450	$369,900	-7.42%
Hugo	264	294	$255,000	$269,900	-5.52%
Huntington	0	0	$0	$0	0.00%
Independence	29	38	$529,000	$622,000	-14.95%
Inver Grove Heights	353	447	$205,900	$220,500	-6.62%
Jackson	0	0	$0	$0	0.00%
Jackson Twp	0	0	$0	$0	0.00%
Johannesburg	0	0	$0	$0	0.00%
Jordan	108	110	$254,150	$251,750	0.95%
Kalona	0	0	$0	$0	0.00%
Keatings	0	0	$0	$0	0.00%
Kenyon	33	44	$140,000	$164,850	-15.07%
Kenyon Twp	0	0	$0	$0	0.00%
Kewaskum	0	0	$0	$0	0.00%
Kilkenny	2	4	$284,300	$345,800	-17.78%
Kinnickinnic Twp	7	5	$287,000	$275,000	4.36%
Knapp	0	0	$0	$0	0.00%
Lake City	17	13	$252,349	$227,726	10.81%
Lake Elmo	62	71	$438,700	$436,000	0.62%
Lake St. Croix Beach	19	12	$205,000	$206,500	-0.73%
Lakeland	15	23	$257,000	$250,000	2.80%
Lakeland Shores	1	3	$475,000	$325,000	46.15%
Laketown Twp	0	1	$0	$605,000	-100.00%
Lakeville	886	1062	$281,514	$280,000	0.54%
Landfall	0	0	$0	$0	0.00%
Lauderdale	25	35	$204,970	$209,000	-1.93%
Le Claire	0	0	$0	$0	0.00%
Lent Twp	4	3	$299,950	$229,500	30.70%
Leon Twp	0	0	$0	$0	0.00%
Lexington	13	30	$225,093	$199,900	12.60%
Lilydale	12	9	$405,500	$375,000	8.13%
Lindstrom	104	164	$215,850	$245,000	-11.90%
Lino Lakes	229	312	$275,000	$282,918	-2.80%
Linwood Twp	69	63	$279,900	$274,330	2.03%
Little Canada	106	122	$240,125	$235,000	2.18%
Little Chicago	0	0	$0	$0	0.00%
Livonia Twp	8	4	$303,250	$313,500	-3.27%
Long Grove	0	0	$0	$0	0.00%
Long Lake	20	32	$274,500	$252,500	8.71%
Lonsdale	86	105	$219,950	$225,000	-2.24%
Loretto	9	11	$243,000	$299,900	-18.97%
Louisville Twp	0	1	$0	$602,500	-100.00%
Lydia	0	0	$0	$0	0.00%
Mahtomedi	95	100	$330,000	$361,000	-8.59%
Maple Grove	1280	1369	$248,200	$244,900	1.35%
Maple Lake	61	105	$190,000	$197,000	-3.55%
Maple Lake Twp	4	0	$242,750	$0	0.00%
Maple Plain	21	16	$236,500	$227,500	3.96%
Maplewood	451	548	$227,600	$222,250	2.41%
Marine on St. Croix	21	21	$445,000	$489,000	-9.00%
Marshan Twp	0	1	$0	$289,900	-100.00%
Marysville Twp	0	0	$0	$0	0.00%
May Twp	4	5	$362,500	$365,000	-0.68%
Mayer	58	81	$235,389	$240,000	-1.92%
Maysville	0	0	$0	$0	0.00%
McCausland	0	0	$0	$0	0.00%
Medicine Lake	2	3	$785,000	$582,750	34.71%
Medina	67	74	$746,000	$678,750	9.91%
Mendota	1	3	$1,237,000	$1,289,837	-4.10%
Mendota Heights	123	129	$326,250	$330,000	-1.14%
Middleview Twp	0	0	$0	$0	0.00%
Miesville	2	1	$214,450	$175,000	22.54%
Millersburg	0	0	$0	$0	0.00%
Milwaukee	0	0	$0	$0	0.00%
Minneapolis	5628	6662	$223,800	$218,624	2.37%
Minneola Twp	0	0	$0	$0	0.00%
Minnetonka	819	804	$270,250	$290,000	-6.81%
Minnetonka Beach	9	9	$1,112,500	$930,000	19.62%
Minnetrista	89	99	$595,000	$601,000	-1.00%
Moland	0	0	$0	$0	0.00%
Montgomery	4	3	$256,500	$362,500	-29.24%
Monticello	289	395	$201,000	$201,052	-0.03%
Monticello Twp	5	1	$269,000	$226,600	18.71%
Montrose	91	87	$193,000	$202,510	-4.70%
Morris Twp	0	0	$0	$0	0.00%
Morristown	17	13	$151,200	$146,200	3.42%
Mound	178	219	$239,550	$234,500	2.15%
Mounds View	103	127	$205,000	$214,900	-4.61%
Nerstrand	12	10	$144,672	$245,000	-40.95%
Nessel Twp	5	4	$216,573	$232,500	-6.85%
New Brighton	243	260	$233,500	$238,450	-2.08%
New Germany	4	12	$175,180	$192,400	-8.95%
New Hope	228	322	$229,450	$224,950	2.00%
New Liberty	0	0	$0	$0	0.00%
New Market	34	65	$271,400	$299,900	-9.50%
New Market Twp	4	1	$430,550	$296,500	45.21%
New Prague	106	136	$234,950	$220,450	6.58%
New Richmond	236	283	$185,000	$182,900	1.15%
New Richmond Twp	6	1	$229,700	$255,000	-9.92%
New Scandia Twp	7	6	$399,000	$262,750	51.86%
New Trier	2	1	$199,500	$188,500	5.84%
Newburg	0	0	$0	$0	0.00%
Newport	47	47	$194,900	$189,900	2.63%
Nininger Twp	0	0	$0	$0	0.00%
North Branch	193	261	$200,000	$206,000	-2.91%
North Hudson	23	37	$224,900	$194,900	15.39%
North Oaks	58	53	$641,250	$654,000	-1.95%
North St. Paul	129	161	$210,000	$213,000	-1.41%
Northfield	301	327	$222,500	$236,756	-6.02%
Northfield Twp	0	0	$0	$0	0.00%
Norwood - Young America	47	71	$205,000	$189,000	8.47%
Nowthen	0	0	$0	$0	0.00%
Oak Grove	73	98	$300,000	$302,250	-0.74%
Oak Park Heights	28	41	$237,250	$200,000	18.63%
Oakdale	408	498	$216,320	$212,000	2.04%
Orono	115	158	$724,625	$764,950	-5.27%
Orrock	1	3	$322,000	$225,000	43.11%
Orrock Twp	6	1	$421,450	$160,000	163.41%
Osseo	20	36	$210,000	$213,650	-1.71%
Oster	0	0	$0	$0	0.00%
Otsego	328	350	$218,200	$226,162	-3.52%
Palmdale	0	0	$0	$0	0.00%
Palmer Twp	4	1	$171,500	$330,000	-48.03%
Panorama Park	0	0	$0	$0	0.00%
Park View	0	0	$0	$0	0.00%
Pine Island	19	22	$153,900	$157,500	-2.29%
Pine Island Twp	0	0	$0	$0	0.00%
Pine Springs	2	4	$435,100	$473,750	-8.16%
Pleasant Valley Twp	5	0	$279,075	$0	0.00%
Plymouth	1029	1237	$292,900	$289,900	1.03%
Princeton	75	140	$225,000	$216,602	3.88%
Prior Lake	466	594	$271,000	$285,000	-4.91%
Ramsey	385	500	$230,000	$226,250	1.66%
Randolph	9	14	$224,900	$267,450	-15.91%
Randolph Twp	1	0	$390,000	$0	0.00%
Rassat	0	0	$0	$0	0.00%
Ravenna Twp	5	1	$258,000	$250,000	3.20%
Red Wing	264	255	$163,500	$165,000	-0.91%
Rice Lake	0	0	$0	$0	0.00%
Richfield	447	660	$223,500	$221,000	1.13%
Richland Twp	0	0	$0	$0	0.00%
Richmond	0	0	$0	$0	0.00%
Richmond Twp	5	17	$208,400	$176,400	18.14%
River Falls	65	54	$195,000	$192,000	1.56%
Riverdale	0	0	$0	$0	0.00%
Riverside	0	0	$0	$0	0.00%
Robbinsdale	275	271	$200,000	$196,750	1.65%
Roberts	34	47	$213,500	$189,000	12.96%
Rockford	70	84	$240,500	$227,700	5.62%
Rockford Twp	7	3	$352,000	$389,500	-9.63%
Rogers	134	185	$283,125	$285,000	-0.66%
Roscoe Twp	0	0	$0	$0	0.00%
Rosemount	367	501	$247,500	$238,900	3.60%
Roseville	387	420	$245,000	$235,000	4.26%
Rowan	0	0	$0	$0	0.00%
Rush City	64	69	$170,600	$185,000	-7.78%
Rush River Twp	1	0	$237,500	$0	0.00%
Rushseba Twp	1	0	$158,900	$0	0.00%
San Francisco Twp	0	0	$0	$0	0.00%
Sand Creek Twp	0	0	$0	$0	0.00%
Santiago	2	0	$227,297	$0	0.00%
Santiago Twp	2	3	$306,500	$144,000	112.85%
Savage	422	553	$266,950	$264,900	0.77%
Scandia	17	21	$359,900	$355,100	1.35%
Scandia Twp	0	2	$0	$267,600	-100.00%
Sciota Twp	0	0	$0	$0	0.00%
Shafer	36	39	$187,000	$184,900	1.14%
Shafer Twp	0	0	$0	$0	0.00%
Shakopee	661	869	$218,500	$217,900	0.28%
Shieldsville Twp	1	1	$226,700	$317,000	-28.49%
Shoreview	343	431	$240,000	$240,000	0.00%
Shorewood	73	133	$560,000	$440,000	27.27%
Silver Creek	0	1	$0	$235,000	-100.00%
Silver Creek Twp	2	2	$267,500	$193,500	38.24%
Slinger	0	0	$0	$0	0.00%
Sogn	0	0	$0	$0	0.00%
Somerset	97	98	$196,000	$192,650	1.74%
Somerset Twp	13	16	$245,967	$243,774	0.90%
South Haven	23	28	$268,000	$254,450	5.33%
South Side Twp	0	0	$0	$0	0.00%
South St. Paul	244	305	$196,700	$198,100	-0.71%
Spring Lake Park	70	84	$199,800	$208,950	-4.38%
Spring Lake Twp	5	1	$315,500	$199,900	57.83%
Spring Park	36	9	$371,152	$449,900	-17.50%
Spring Valley	1	2	$251,500	$192,500	30.65%
Springfield Twp	2	0	$200,000	$0	0.00%
St. Anthony	166	116	$231,062	$229,900	0.51%
St. Benedict	0	0	$0	$0	0.00%
St. Bonifacius	29	60	$249,900	$237,700	5.13%
St. Cloud	76	48	$175,218	$158,200	10.76%
St. Francis	145	180	$201,000	$208,000	-3.37%
St. Joe	0	0	$0	$0	0.00%
St. Joseph Twp	14	10	$270,400	$287,150	-5.83%
St. Lawrence Twp	0	2	$0	$517,500	-100.00%
St. Louis Park	810	911	$235,000	$230,000	2.17%
St. Marys Point	2	4	$253,400	$211,900	19.58%
St. Michael	297	372	$247,500	$245,250	0.92%
St. Paul	3426	3999	$199,900	$195,900	2.04%
St. Paul Park	107	110	$210,000	$192,950	8.84%
Stacy	68	75	$231,200	$244,900	-5.59%
Stanton	0	0	$0	$0	0.00%
Stanton Twp	3	0	$232,000	$0	0.00%
Star Prairie	17	22	$166,000	$171,000	-2.92%
Star Prairie Twp	8	19	$234,950	$186,000	26.32%
Stillwater	332	393	$276,000	$282,000	-2.13%
Stillwater Twp	3	9	$453,500	$658,000	-31.08%
Stockholm Twp	1	0	$280,000	$0	0.00%
Sunfish Lake	4	4	$696,500	$677,500	2.80%
Sunrise	0	0	$0	$0	0.00%
Sunrise Twp	2	0	$378,950	$0	0.00%
Taylors Falls	36	39	$181,750	$185,000	-1.76%
Tonka Bay	19	24	$736,450	$997,500	-26.17%
Troy Twp	11	20	$440,000	$373,500	17.80%
Vadnais Heights	171	191	$231,840	$227,900	1.73%
Vasa	1	1	$140,000	$167,000	-16.17%
Vasa Twp	0	0	$0	$0	0.00%
Vermillion	3	1	$197,000	$214,600	-8.20%
Vermillion Twp	0	1	$0	$235,000	-100.00%
Veseli	3	3	$134,900	$179,000	-24.64%
Victoria	133	140	$490,000	$388,700	26.06%
Victoria Twp	0	0	$0	$0	0.00%
Waconia	197	253	$259,500	$241,500	7.45%
Waconia Twp	3	0	$390,000	$0	0.00%
Wacouta	0	0	$0	$0	0.00%
Wacouta Twp	0	0	$0	$0	0.00%
Walcott	0	0	$0	$0	0.00%
Walcott Twp	0	0	$0	$0	0.00%
Wanamingo	14	14	$157,400	$156,400	0.64%
Wanamingo Twp	0	1	$0	$370,000	-100.00%
Warren Twp	4	10	$249,750	$245,950	1.55%
Warsaw Twp	2	1	$144,400	$169,900	-15.01%
Washington	0	0	$0	$0	0.00%
Waterford	0	0	$0	$0	0.00%
Waterford Twp	0	1	$0	$125,000	-100.00%
Watertown	69	95	$220,000	$225,000	-2.22%
Watertown Twp	1	1	$2,400,000	$610,000	293.44%
Waverly	47	40	$188,300	$196,000	-3.93%
Wayzata	92	72	$439,750	$596,425	-26.27%
Webster	5	4	$399,900	$364,000	9.86%
Webster Twp	4	13	$390,000	$390,000	0.00%
Welch	6	6	$418,450	$346,950	20.61%
Welch Twp	0	0	$0	$0	0.00%
Wellman	0	0	$0	$0	0.00%
Wells Twp	1	0	$154,851	$0	0.00%
West Albion	0	0	$0	$0	0.00%
West Bend	0	0	$0	$0	0.00%
West Chester	0	0	$0	$0	0.00%
West Lakeland	6	14	$523,750	$483,750	8.27%
West Lakeland Twp	12	12	$577,500	$427,000	35.25%
West St. Paul	229	276	$200,623	$203,000	-1.17%
Wheatland	0	0	$0	$0	0.00%
Wheatland Twp	0	0	$0	$0	0.00%
Wheeling Twp	0	0	$0	$0	0.00%
White Bear Lake	376	430	$225,000	$225,250	-0.11%
White Bear Twp	95	108	$280,500	$277,950	0.92%
White Rock	0	0	$0	$0	0.00%
Willernie	8	9	$174,557	$160,000	9.10%
Wilson	3	6	$101,000	$137,025	-26.29%
Woodbury	1221	1413	$282,000	$283,450	-0.51%
Woodland	8	8	$1,750,000	$1,612,500	8.53%
Woodland Twp	1	1	$429,000	$223,000	92.38%
Woodville	27	25	$146,900	$150,000	-2.07%
Woolstock	0	0	$0	$0	0.00%
Wyoming	73	97	$240,000	$235,000	2.13%
Wyoming Twp	24	21	$322,500	$264,000	22.16%
Young America Twp	0	0	$0	$0	0.00%
Zimmerman	258	337	$215,000	$218,000	-1.38%
Zumbrota	44	31	$166,000	$176,800	-6.11%
Zumbrota Twp	1	0	$338,000	$0	0.00%

Considering a Second Home?

Vacation homeownership by the numbers

Considering a lake home, hobby farm, Bed & Breakfast or just a remote cabin in the woods for fun and relaxation? Up to 1/3 of all Real Estate transactions this year could be for Second Homes.

If you would like more info on how you can reap tax benefits, financial rewards and a great get-away place- CONTACT ME today!

Here's some current figures on the Second Home/Vacation Home Market.

VACATION HOME OWNERS

75 percent of vacation home owners bought for personal use.

33 percent bought as a way to diversify their investments.

18 percent planned to use their vacation home as a primary residence in retirement.

13 percent listed rental income as reason to buy.

Typical owner spends 39 nights per year at their property.

75 percent of second-home buyers do not rent out their properties.

The median number of nights per year those who rent their vacation homes out is 12.

LOCATION

50 percent of all vacation homes are in resort or recreational areas.

18 percent are in small towns.

16 percent are in rural areas.

SECOND-HOME BUYERS

40 percent of all home purchases were second-home purchases in 2005.

12.2 percent were vacation homes.

27.7 percent were purely for investment purposes.

30 percent of all home purchases in 2007 are expected to be second homes.

SECOND-HOME OWNERS

21 percent own two or more vacation homes.

34 percent own two or more investment properties.

53 percent of investment home owners own two or more investment homes.

INVESTMENT PROPERTY OWNERS

66 percent purchased to generate rental income.

50 percent did so to diversify their investments.

80 percent rent out their property.

73 percent rent it out for at least six months per year.

55 is the median age of an investment owner, who had an income of $98,600 in 2005. Their investment property is located within a median distance of 10 miles from their home.

Eight of 10 spend no time at their property.

BUILDING TYPE

Four of 10 are detached single-family homes.

22 percent are cabins or cottages.

21 percent are condos in buildings with five or more units.

7 percent are townhouses or row houses.

5 percent are mobile or manufactured homes.

3 percent are in two- to four-unit structures.

Source: National Association of Realtors