April 2014
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hometown realty

Located on a quiet street on the Crow River, this large walkout rambler features oak plank flooring, 2 wood burning fireplaces & m. f. family room. Great views of the river from the 3 season porch & deck. New roof in 2011.

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Featured Property of the Week – 585 Lincoln Avenues SW, Hutchinson, MN

PRICE: $239,900

Property Type: Residential
Listing Status: Active
Style: (SF) One Story
Year Built: 1965
Sqft. Total: 2658
Exterior: Vinyl
Roof: Asphalt Shingles, Age 8 Years or Less
Garage Capacity: 2
Fuel: Electric
Air Conditioning: Central
Water: City Water/Connected
Sewer: City Sewer/Connected
Lot Size Dimensions: 100×200
Lot Description: Tree Coverage – Light
Roofing: Asphalt Shingles, Age 8 Years or Less
Heat Source: Electric
Heat Type: Hot Water

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN.

Located on a quiet street in SE Hutchinson this multilevel home features high vaulted ceilings, media room with wet bar & projection screen, family room on walkout lower level to patio, over-sized garage with attached shop that has heat, AC & water.

featured home of the week, hometown realty, hutchinson, mn, real estate, homes for sale

Featured Property of the Week – 1281 Sunburst Way SE, Hutchinson, MN

PRICE: $249,900

Property Type: Residential
Listing Status: Active
Style: (SF) Four or More Level Split
Year Built: 2003
Sq. ft. Total: 2565
Exterior: Vinyl, Brick/Stone
Roof: Asphalt Shingles
Garage Capacity: 3
Fuel: Natural Gas
Air Conditioning: Central
Water: City Water/Connected
Sewer: City Sewer/Connected
Lot Size Dimensions: 70×153
Lot Description: Tree Coverage – Light
Roofing: Asphalt Shingles
Heat Source: Natural Gas
Heat Type: Forced Air

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN.

Minneapolis, Minnesota (April 11, 2014) – Property rights and the housing market received a big boost this morning, as the Minneapolis City Council voted to lift the housing construction moratorium that was imposed in the southwest corner of the city on March 7, 2014.

hometown realty, minneapolis housing moratorium, cheryl dooley, hutchinson, mn, realtors, real estate, photo courtesy of www.royaltyfreeimages.com

The moratorium impacted the issuance of wrecking and building permits for single and two-family dwellings in the Armatage, Fulton, Kenny, Linden Hills, and Lynnhurst neighborhoods. As drafted, it would have been in place until March 2015.

From the day the moratorium was enacted, the Minneapolis Area Association of Realtors has been hard at work with city officials, residents, and housing industry leaders to find an alternative path toward answering questions and concerns surrounding construction sites and building codes. MAAR’s advocacy efforts are rooted in the protection of property rights, and the Association harbored grave concerns about the impact a yearlong moratorium would have on housing in these neighborhoods.

With understanding of the significant concerns that can arise when a city sees notable increases in infill residential redevelopment, MAAR sought to work with Minneapolis leaders to find solutions to the core problems brought forward by some community members. In collaboration with the Builders Association of the Twin Cities, MAAR assisted in the development of a new Construction Site Management Agreement, which must now be signed and upheld by anyone engaging in a redevelopment project (teardown or significant remodel/expansion) in the city. This agreement addresses a range of issues, from work hours to soil erosion mitigation plans. MAAR believes this site management plan will alleviate the vast majority of community concerns around construction sites.

MAAR will continue to work with the city throughout the upcoming months on redevelopment policies, including a thorough examination of local housing market trends, existing and potential zoning codes, and building standards.

The partnerships that have been forged throughout this process between city residents, housing industry leaders, and city officials should prove to greatly benefit all stakeholders engaged in housing and growth issues in Minneapolis.

Traditional Segment Blooms in Minnesota Real Estate Market, Sellers More Optimistic

hometown realty, hutchinson, mn, real estate, homes for sale, realtors

Hometown Realty – Hutchinson, MN real estate experts

Minneapolis, Minnesota (April 10, 2014) – After being cooped up for a long, cold winter, homeowners in the 13-county Minneapolis-St. Paul metropolitan area showed renewed signs of optimism in March. Seller activity rose 5.5 percent to 6,492 newly listed homes, a crucial increase toward fueling buyer demand. Inventory levels are still hovering near a 10-year low, but consumers should have more options to choose from this year compared to recent years. Pending sales were 8.4 percent lower, resulting from a desired shift to less foreclosure and short sale activity. Most indicators continue to suggest ongoing recovery and stabilization.

It’s imperative to understand market activity by segment. Buyers are now leaning toward traditional purchases first because they are making up a greater share of the marketplace. These properties also tend to be in better condition, many come with warranties and traditional sellers tend to be more cooperative than banks. New traditional listings rose 22.1 percent compared to March 2013, while foreclosure and short sale new listings fell 39.9 and 53.8 percent, respectively.

On the demand side, pending sales declined 8.4 percent to 4,141 properties overall, which still reflects less distressed market activity. Once again, traditional pending sales were up 2.6 percent while pending foreclosure and short sales fell 32.2 and 45.1 percent, respectively. Consumers shopping for homes now have 13,086 properties to choose from – or 4.1 percent fewer than last year at this time, marking the smallest year-over-year decline since November 2013.

“There’s a lot of excitement and positive energy out there, especially among sellers,” said Emily Green, President of the Minneapolis Area Association of REALTORS® (MAAR). “Some would-be sellers have been lifted out from underwater by rising prices and less competition from foreclosures, while other move-up buyers are also eager to buy.”

The lowest price point of the market is evaporating. As a result, the median sales price for the metro rose 7.6 percent to $190,000, marking 25 straight months of year-over-year price gains. Last March, foreclosures and short sales made up 25.2 percent of all new listings. This March, they made up just 13.3 percent. For closed sales, the number fell from 37.6 to 26.6 percent.

On average, homes spent just 95 days on the market, 12.0 percent less than last March. Sellers are receiving an average of 95.0 percent of their original list price. The Twin Cities now has 3.1 months’ supply of inventory, suggesting a favorable selling environment. Importantly, interest rates remain affordable and well below their long-term average.

“Traditional properties are dominating the market again,” said Mike Hoffman, MAAR President-Elect. “As distressed product clears the pipeline, consumers are more likely to embark upon negotiations and transactions with people rather than banks.”

All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from NorthstarMLS. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities 13-county metro area and western Wisconsin. 10K Research and Marketing, LLC is a wholly owned subsidiary of MAAR.

For more information about buying or selling a home at this time, contact the real estate professionals at Hometown Realty in Hutchinson, MN. 320-587-6115.

Click here to view the full March 2014 Twin Cities Real Estate report.

Located just outside of Hutchinson, this 2 story home features hardwood floors, vaulted ceilings, fireplace in living room, master suite, m. f. laundry, newly finished walkout lower level, nice deck & patio overlooking large yard. Attached 4 car garage.

featured home of the week, hometown realty, hutchinson, mn, real estate, homes for sale

Featured Property of the Week – 16971 206th Circle, Hutchinson, MN

PRICE: $375,000

Property Type: Residential
Listing Status: Active
Style: (SF) Modified Two Story
Year Built: 2005
Sqft. Total: 3816
Exterior: Metal, Brick/Stone
Roof: Asphalt Shingles, Pitched, Age 8 Years or Less
Garage Capacity: 4
Fuel: Propane
Air Conditioning: Central
Water: Well
Sewer: Private
Acres: 2.22
Lot Description: Corner Lot
Roofing: Asphalt Shingles, Pitched, Age 8 Years or Less
Heat Source: Propane
Heat Type: Forced Air, In-Floor Heating

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN.

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