Owatonna, MN Real Estate Market Conditions, August 25, 2008

Interest Rates finished the week last week at 6.375% for a 30 year fixed on Monday August 25, 2008. That is up just a bit. Interest rates have continued to be a bit unstable. We don't see interest rates coming down anytime soon.

Current real estate listing inventory - 218 active listings in Owatonna as of today. The active listing count has stayed fairly constant. We would like to see it down about 30 listings but at least it hasn't soared this summer like last year.

The number of pending listings is at 38 homes. This continues to be a good pending count however it is down a bit from previous levels. We look for it to fall quite a bit this week as we reach the end of the month.

There have been 196 properties Closed so far in 2008. Closed activity has been great over the last two months. There were 267 properties closed at this same time last year so we are down in the market 27% over 2007. BUT WE ARE STILL SELLING HOUSES! The real estate market hasn't come to an end. We will be doing a chart at the end of the month that shows how the market over the last 5 years.

Take a close look at the comparison charts. The closed chart is showing that over 43% of the homes that have closed this year had a price change and the average price change is just over $15,753. vs 55% of the active listings has had a price change (up 3%) and that average price change is $13,580. This has several possible reasons 1) Sellers are seeing the need to adjust the asking price of their home into the correct price range, to generate showing activity and offers. 2) More & more sellers are coming onto the market initially at the correct price. Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Give us a call and let us show you what is happening in the market right now. 507-390-2121

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Owatonna, MN Real Estate Market Conditions, August 4, 2008

Interest Rates finished the week last week at 6.125% for a 30 year fixed on Friday August 1, 2008. We have seen interest rates bounce around from 5.75% to 6.25% recently. The bond market has been flaky and that leads to instability in the home mortgage market. We don't believe that rates are going to drop much, if at all.

Current real estate listing inventory - 215 active listings in Owatonna as of today. The active listing count has remained relatively stable for the last two months. The market activity has continued to be strong. we have seen quite a few new properties come on the market but the inventory is staying at fairly stable levels.

The number of pending listings is still at 44 homes. This continues to be a good pending count when you take into account the number of homes that closed in the last two months. The number of pending has not fallen as much as we expected.

There have been 177 properties Closed so far in 2008. Closed activity has been great over the last two months. We have seen the closed count climb quite a bit.

Take a close look at the comparison charts. The closed chart is showing that over 46% of the homes that have closed this year had a price change and the average price change is just over $15,945. vs 52% of the active listings has had a price change (up 8%) and that average price change is $13,454. This is a change in the market, for the first time the active listings have a higher percentage of price changes than the closed. This is a fantastic shift in the market Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Give us a call and let us show you what is happening in the market right now. 507-390-2121

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Austin, MN - Real Estate Market Conditions June 6, 2008

Interest Rates have climbed a bit and they are currently at 6.00% for a 30 year fixed on Friday June 6, 2008.

Current real estate listing inventory - 239 active listings in Austin as of today. Listing count has climbed just a littlesince the last post. The fact that it is continuing to climb is something we need to watch carefully

There are 29 properties currently pending, that is down just a lot from the last post. Some of this was to be expected because the end of May is typically a very busy time for closings. However we would liked to have seen the count maintain itself a little bit stronger.

There have been 148 properties Closed so far in 2008. We had expected to see this count jump up a lot at the end of the month and it did. The good news is that properties are continuing to sell.

Take a look at the comparison charts. The closed chart is showing that over 55 % (down 4%) of the homes that have closed this year had a price change and the average price change is $14,172. vs only 48.5% (up 2%) of the active listings has had a price change with an average of $15,019. Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

We are seeing fewer & fewer great deals in the market right now. If you have been sitting on the fence, now would be a good time to jump in. Give us a call.

Our New Austin # is 507-440-5703

Owatonna, MN Real Estate Market Conditions, June 6, 2008

Interest Rates have climbed a bit this week to finish at 6.00% for a 30 year fixed on Friday June 6, 2008. I'm hearing rumors that interest rates are going to continue to climb. This is what we predicted a few months ago. As the market begins to show signs of recovery and properties are selling more quickly, lenders no longer have as much incentive to lower rates and many will be trying to recoup some of the losses they have experienced through higher interest rates. If you have been sitting back waiting, now is the time to move. We don't believe that rates are going to drop much, if at all.

Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has climbed again over the last two weeks. The market activity has continued to be strong. we have seen quite a few new properties come on the market but the inventory is staying at fairly stable levels.

The number of pending listings is down to 43 homes. This still continues to be a good pending count when you take into account the number of homes that closed in the last two weeks. The number of pending has not fallen as much as we expected at the end of May.

There have been 118 properties Closed so far in 2008. Closed activity has been great over the last two weeks. We have seen the closed count climb quite a bit.

If the activity that we have seen in the last 2 months is any indication, we may have seen the bottom here in Owatonna.

Take a look at the comparison charts. The closed chart is showing that over 47 % of the homes that have closed this year had a price change and the average price change is just over $15,836. vs 47% of the active listings has had a price change (up 3%) and that average price change is $14,075. This is the narrowest this gap has been in 2008. We believe that many sellers have gotten the message about the importance of correct pricing on their homes. Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

There are still some good deals to be had but there certainly are getting to be fewer than there were earlier this year. Confidence in the market is continuing to grow. I have heard from several lenders and appraisers that they are seeing an upturn in business as well.

Give us a call and let us show you what is happening in the market right now. 507-390-2121

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Owatonna, MN Real Estate Market Conditions, May 23, 2008

Interest Rates have bounced this week but finished right where they started at 5.75% for a 30 year fixed on Friday May 23, 2008.

Current real estate listing inventory - 207 active listings in Owatonna as of today. The active listing count has climbed again over the last two weeks. The market activity has continued to be strong. Little bit slow the last couple of days as we approach the holiday weekend.

The number of pending listings is down one to 49 homes. It still continues to be an awesome pending count. Look for it to drop quite a bit though as we reach the end of the month.

There have been 97 properties Closed so far in 2008. Closed activity has been great over the last two weeks. Not at all what we expected during the first two weeks of the month. Look for the closed count to climb as we get to the end of the month.

Is the activity that we have seen in the last month an indication that we have seen the bottom? We aren't sure, only time will tell, but the activity continues to be refreshing. One thing we have noticed is that the number of listing with price changes seems to slowing.

Take a look at the comparison charts. The closed chart is showing that over 47 % of the homes that have closed this year had a price change (down 3%) and the average price change is just over $17,000. vs only 44% of the active listings has had a price change (down 2%) and that average price change is $13,766. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

There are still some great deals to be had but please stop waiting for the bottom to fall out. We are getting more confident that we have seen the worst here in SE Minnesota. Give us a call and let us show you what is happening in the market right now. 507-390-2121

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Austin, MN Real Estate Market Conditions, May 23, 2008

Interest Rates have remain somewhat stable and they are currently at5.75% for a 30 year fixed on Friday May 23, 2008.

Current real estate listing inventory - 232 active listings in Austin as of today. Listing count has climbed quite a bit since the last post. We will keep an eye on that and see if it falls again or will continue to climb.

There are 45 properties currently pending, that is down just a bit from the last post.

There have been 125 properties Closed so far in 2008. Look for the clsoed count to climb and the pending count to drop as we get closer to the end of the month.

Take a look at the comparison charts. The closed chart is showing that over 59.2 % of the homes that have closed this year had a price change and the average price change is $13,696. vs only 46.5% of the active listings has had a price change with an average of $16,137. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .



Please don't miss the terriffic deals that are available in the market right now. If you have been sitting on the fence waiting, now is the time to get serious. As the inventory gets closer to that balanced market, your ability to negotiate with sellers falls dramatically. Give us a call and let us show you what is happening in the market right now. Our New Austin # is 507-440-5703

Austin, MN Real Estate Market Conditions 05-13-08

OK, here we go with the first installment of our new Austin market condition blog. We are going to try to keep everyone up to date on what is happening in the Austin, MN real estate market. The first few posts will help establish a baseline for analysis in the months to come. In a few weeks we hope to add Albert Lea, MN to the Blog as well. Let us know what you think.

Interest Rates have bounced around between 5.625 & 5.75 for several weeks now, they are currently at5.75% for a 30 year fixed on Tuesday May 13, 2008.

Current real estate listing inventory - 196 active listings in Austin as of today.

There are 48 properties currently pending

There have been 110 properties Closed so far in 2008. Look for the clsoed count to climb and the pending count to drop as we get closer to the end of the month.

Take a look at the comparison charts. The closed chart is showing that over 61 % of the homes that have closed this year had a price change and the average price change is just over $14,000. vs only 47% of the active listings has had a price change. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Please don't miss the terriffic deals that are available in the market right now. If you have been sitting on the fence waiting, now is the time to get serious. As the inventory gets closer to that balanced market, your ability to negotiate with sellers falls dramatically. Give us a call and let us show you what is happening in the market right now. Our New Austin # is 507-440-5703

Owatonna, MN Real Estate Market Conditions, May 7, 2008

Interest Rates have fallen twice this week and are currently at 5.75% for a 30 year fixed on Wednesday May 7, 2008.

Current real estate listing inventory - 196 active listings in Owatonna as of today. The active listing count has dropped again this week. We haven't been this low in the Active listing count since the end of December 2006. This has been a great couple of weeks for real estate. We have about 20 more listings to go before we reach what has traditionally been a balanced market in Owatonna. That number has usually been in the 170-180 active listing range.

The number of pending listings has climbed again to 50 homes. This is one of the best pending counts we have had in quite a while.

There have been 81 properties Closed so far in 2008. Closed activity has remained static this week but that was to be expected during the first two weeks of the month. Look for the cloed count to climb and the pending count to drop as we get closer to the end of the month.

Is the activity the last several weeks an indication that we have seen the bottom? We aren't sure, only time will tell, but the increased activity is reassuring.

Take a look at the comparison charts. The closed chart is showing that over 50 % of the homes that have closed this year had a price change and the average price change is just over $16,000. vs only 88 of the 196 active listings has had a price change and that average price change is $13,795. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Please don't miss the terriffic deals that are available in the market right now. If you have been sitting on the fence waiting, now is the time to get serious. As the inventory gets closer to that balanced market, your ability to negotiate with sellers falls dramatically. Give us a call and let us show you what is happening in the market right now. 507-390-2121


We have all of our listings available via Virtual Tour in English, Spanish and also in French

Owatonna, MN Real Estate Market Conditions, May 1, 2008

Interest Rates have fallen twice this week and are currently at 5.50% for a 30 year fixed on Thursday May 1, 2008.

Current real estate listing inventory - 205 active listings in Owatonna as of today. The active listing count has dropped again this week. There have been a few properties expire but mainly the number dropped because there were homes selling quickly this past week.

The number of pending listings has remained solid at 43 homes.

There have been 81 properties Closed so far in 2008. Brisk closing activity again this week, the count jumped up 8 for the closed and the pendings remained firm. Best 2 week span of activity activity we have seen in almost a year..

Have we possibly seen the bottom? We aren't sure, only time will tell, but the increased activity is reassuring.

Have you checked out the comparison charts? They really point out what is selling and what has had price changes. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Inventory has been creeping down as well as interest rate. If you have been sitting on the fence waiting, you are missing some incredible deals going on in the market right now. Give us a call and let us tell you about some of these bargains.
507-390-2121


We have all of our listings available via Virtual Tour in English, Spanish and also in French

I want one of these NOW!!!

I want one of these! !!!

I saw one of these in person this morning and I want one. I have never had this kind of feeling about a car before. It is really strange to be feeling this way at my age, I don't know why I love it so much.

I first saw one of these in the movie "A Good Year" ( a very good movie by way) when Russell Crowe is driving one and I thought it was kind of fun looking. Now that I've seen one up close and personal as it were. I want one really bad.

I don't understand why. I'm far from being a small or tiny person but to me this car has such a high cool factor that I am lusting after it.

It is not at all practical given what we do for a living or that we frequently are driving our grandchildren to/from somewhere. We would not be able to drive our clients around to see houses. For sure would not be able to pull the boat with it (the boat is actually bigger), probably can't get open house signs in it very well. But I don't care, I want one now!

This must be what someone feels like when they are addicted to something. I could rationalize away all of the objections in the blink of an eye. Who cares if this thing is only 1 1/2 feet longer than a golf cart, or is totally impractical for our lives & our lifestyle or has a motor that is the size of my briefcase. That is not really suited for highway driving (if I lived in a big city, this baby would already be mine) has no room to take anything or anyone with you or that the last thing I need to do right now is go car shopping.

None of that stuff matters, it looks like a Hot Wheels car for adults and I WANT ONE NOW!!!

Brian Bartley

It snowed last night!!!!

It SNOWED here last night!!!!!!! Can you believe it? It is the 26th of April and we actually have snow on the ground. AAAHHHHHHHHH!

Our dock and boatlift were put back into the water last weekend by the local ski club and were thinking about getting the boat out of storage on Sunday and putting it into the water and crusing the lake for fun. Our granddaughter (she is 4) is ready to go tubing and boating. Well maybe her life jacket will fit over her snowsuit.

Susan & I were looking at all of the perrinnials coming up in the flower gardens at home on Wednesday night and she remarked on how we had lost some to a late frost last spring. I looked at her and said " but honey it wasn't 70 degrees last spring like it is now, we'll be fine this year". Well now I have to try to get my size 11 shoe out of my mouth after those comments.

We have already hung the winter clothes away in the basement closet, packed away the hats, gloves & boots. Darn, it was really cold out this morning.

Well the nice thing about Minnesota is that the weather here will change by tomorrow. Who knows, maybe I will need the sunscreen & speedo (just kidding) by tomorrow.

Brian Bartley

Owatonna, MN Real Estate Market Conditions, April 25, 2008

Interest Rates have bounced up and down this week but finished right where they started at 5.875% for a 30 year fixed on Friday April 25th, 2008.

Current real estate listing inventory - 213 active listings in Owatonna as of today. The active listing count has dropped this week. There have been a few properties expire but mainly the number dropped because there were homes selling quickly this past week.

The number of pending listings popped up to 43 homes.

There have been 73 properties Closed so far in 2008. Awesome closing activity this week,

the count jumped up 11 for the closed and the pendings climber up 6. Best activity we have seen in months.

There are still a significant number of homes on the market that are priced way too high for the current real estate market here in Owatonna. The comparison charts point out what is selling and what has had price changes. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Owatonna, MN Real Estate Market Conditions, April 20, 2008

Interest Rates have climbed a bit this week and are at 5.875% for a 30 year fixed on Sunday April 20th, 2008. The rates climbed in the latter 1/2 of the week. We will have to watch and see what is going to happen next, predictions were for rates to drop last week and they rose instead.

Current real estate listing inventory - 220 active listings in Owatonna as of today. The active listing count has grown again since last week. This has been the biggest one week jump we have seen so far this year.

The number of pending listings slid up to 37 homes.

There have been 62 properties Closed so far in 2008. Some nice closing activity this week, look for the numbers to climb as we approach the end of the month.

It is interesting that we have seen the number of active listings climb as much as they have this week because there has also been nice activity in the closed category and the pending count has climbed a bit, which means homes are still getting sold.

The comparison charts are telling us that 44.5% of our active listings have had price changes averaging $14,360, while the closed listings have seen 55% with price changes totaling $16,845. There are still a significant number of homes on the market that are priced way too high for the current real estate market here in Owatonna. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Owatonna, MN Real Estate Market Conditions, April 12, 2008

Interest Rates have remained stable and are at 5.625% for a 30 year fixed on Saturday April 12th, 2008. Actually rates bounced up and down this week but finished at the same placed they ended last week.

Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has climbed again since last week. This has been the biggest one week jump we have seen so far this year.The number of pending listings crept up one to 35 homes.

There have been 57 properties Closed so far in 2008. Not a lot of closed activity this week, but anything is better than nothing.

The comparison charts continue to provide an insight into what is happening in the real estate market here in Owatonna. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Showings have slowed a little this week and the early report on todays open houses show a bit of a slowdown. We do need to keep in mind however that it has been raining or snowing every day this week and that will always slow traffic down. It is supposed to be 70 by Monday though.

We have all of our listings available via Virtual Tour in English, Spanish and also in French

Wonderfully Updated Lake Front Home - 1018 Abbott, Albert Lea , MN

The Bartley Group Coldwell Banker Home Connection info@bartleygroup.com 507-390-2121 1018 Abbott, Albert Lea, MN Direct Lake Frontage - Completely Updated 3 Bdrm Single Family House offered at $204,900 Year Built 1888 Sq Footage 2,326 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 2 Parking 2 Car garage Lot Size .25 acres HOA/Maint $0 per month DESCRIPTION The updates on this wonderful home include the following: Main Level Sheetrock, texture & paint, trim, light fixtures, 6 panel oak swing doors, patio door, underlayment, laminate flooring Kitchen Cabinet doors, countertops, sink, faucet, vinyl flooring, dishwasher, refrigerator & stove Upper Level Sheetrock, texture & paint, oak trim, light fixtures, 6 panel oak swing doors, oak flush closet doors,underlayment, carpeting & pad Main Bath Bathtub & faucet, oak vanity & top, sink & faucet, toilet, underlayment & vinyl flooring Mechanicals High efficiency boiler & hot water system, hydronic heat covers, all cable runs Exterior added topsoil & graded back yard, reseeded lawn, fieldstone planting & decorative borders, cleaned & stained front & rear decks, wood lattice fence on east side of back yard Boat House & Lake Front Built boardwalk & dock, replaced shingles & roof sheathing, replaced service door, replaced siding, replaced overhead door, replaced concrete floor & ramp, track system & electric boat winch, replaced dusk to dawn light see additional photos below PROPERTY FEATURES Central heat Living room Office/Den Dining room Dishwasher Refrigerator Stove/Oven Basement Washer Dryer Laundry area - inside Balcony, Deck, or Patio Yard COMMUNITY FEATURES Garage parking Lake OTHER SPECIAL FEATURES Kitchen Main 16 x 10 New appliances,sink, countertop, vinyl Living Room Main 19 x 12 Laminate Floor/Ceiling Fan Dining Room Main 19 x 9 Laminate floor/2Ceiling Fans Bedroom 1 2nd Level 15 x 12 Carpet/6 Panel Door Bedroom 2 2nd Level 12 x 9 Carpet/6 Panel Door Bedroom 3 2nd Level 14 x 9 Carpet/6 Panel Door Full Bath 2nd Level 8 x 7 Vinyl Floor/Custom Oak Vanity ADDITIONAL PHOTOS Seller contact info: The Bartley Group Coldwell Banker Home Connection info@bartleygroup.com 507-390-2121 For sale by agent/broker Equal Opportunity Housing Posted: Apr 12, 2008, 8:24am PDT

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