Nappy New Year

We would like to wish everyone a Happy - Safe - Joyous New Year!!
2008 is going to be a fabulous year.

Brian - Susan - Todd

Happy Holidays

We hope everyone had a wondeful Christmas. We would also like to take the time to wish each and every one of you a very happy and joyous New Year. We are all excited here at the Bartley Group and looking forward to exciting things in 2008.

Todd Susan Brian

Very Good Real Estate News

This link will take you to a very positive article on the trends in real estate and why 2008 may be an very good time to purchase a house.

The link has been temporarily removed, sorry for any inconvience.

Merry Christmas to all and thank you for a great year.
Brian Susan Todd

Interest Rates have dropped again to 5.75% on December 19, 2007.

Current listing inventory - 211 active listings in Owatonna as of today, that number has climbed a bit this week. We are still in sight of our goal of seeing the listing count drop below 200 before the end of the year (but time is getting short). Average days on the market has dropped slightly to 170 days. The number of pending listings has fallen this week to 26 houses. Average days on the market for pendings is 145 days. There have been 390 properties Closed since 01-01-07, with an average days on market time of 114 days.

Buyers, if you have been sitting on the fence waiting, we are seeing so awesome deals available right now. Give us a call, 507-390-2121 or email us, info@BartleyGroup.com

December 18, 2007

Interest Rates have climbed slightly to 6.00% on December 18, 2007.

Current listing inventory - 209 active listings in Owatonna as of today, that number has remained stable since last week. We are still in sight of our goal of seeing the listing count drop below 200 before the end of the year. Average days on the market has dropped slightly to 172 days (that's still 5.8 months gang). The number of pending listings rebounded nicely last week to 30 houses. Average days on the market for pendings is 132 days. There is now a 40 day difference between the Active and Pending listings. There have been 386 properties Closed since 01-01-07, with an average days on market time of 115 days.

Buyers, if you have been sitting on the fence waiting, we are seeing so awesome deals available right now.

Give us a call, 507-390-2121 or email us, info@BartleyGroup.com

December 10, 2007

Interest Rates have inched up slightly to 5.875% on December 10, 2007.

Current listing inventory - 209 active listings in Owatonna as of today, that number has dropped again since last week. We are getting closer to our goal of seeing the listing count drop below 200 before the end of the year. Average days on the market has also climbed slightly to 175 days (that's 5.8 months gang). The number of pending listings rose slightly to 24 houses. This number has now begun to rebound and has not dropped any further. Average days on the market for pendings is 116 days. There is now a 59 day difference between the Active and Pending listings. That shows us there are still too many sellers out there that are being unrealistic in their asking price. There have been 385 properties Closed since 01-01-07, with an average days on market time of 114 days.

A balanced market in Owatonna should be around 175-185 active listings, as we get closer to that number, the balance swings from a buyers market to a more balanced market. Buyers, if you have been sitting on the fence waiting, now might be the best time we have seen.

The are are number of fantastic deals available right now. Give us a call, 507-390-2121 or email info@BartleyGroup.com, we would enjoy the opportunity to discuss some of the current deals available right now.

December 6, 2007

Interest Rates have inched up slightly to 5.75% on December 6, 2007. Rates have again fallen in anticipation of the Fed cutting interest rates at their next meeting in December.

Current listing inventory - 214 active listings in Owatonna as of today, that number has dropped a little bit lower since last week. We are getting closer to our goal of seeing the listing count drop below 200 before the end of the year. Average days on the market has also climbed to 173 days (that's 5.8 months gang). The number of pending listings fell slightly to 20 houses. This number has not rebounded well after all of the closings last month and is beginning to concern us. Average days on the market for pendings is up again to 117 days. There is now a 56 day difference between the Active and Pending listings. That shows us there are still too many sellers out there that are being unrealistic in their asking price. There have been 383 properties Closed since 01-01-07, with an average days on market time of 113 days.

Check out Our Blog from one year ago. Interest rates were 5.625% and we had 212 Active listings in Owatonna. It is interesting to see that one year ago we had almost the exact same listing count & the same interest rates. We are down on Closed listings by 8.5% vs 2006. So in spite of all of the negative media attention, real estate in Owatonna in still selling well. It is however taking 22% longer to sell those houses than it did in 2006.

Home buyers, now is a golden time to be purchasing a home. Interest rates are low & many home prices have been reduced.

Some other interesting statistics about the homes currently active in the market. 14.4% of the homes are new construction (they don't count in the days-on-market count because of a quirk in our MLS System), 8.25% of the homes have been through foreclosure and 56.3% of the homes have had price reductions.

December 3, 2007

Interest Rates have dropped slightly to 5.625% on December 3, 2007. Rates have again fallen in anticipation of the Fed cutting interest rates at their next meeting in December.

Current listing inventory - 215 active listings in Owatonna as of today, that number has dropped a little bit lower since last week. We are getting closer to our goal of seeing the listing count drop below 200 before the end of the year. Average days on the market has remained fairly stable at 166 days (that's 5.6 months gang). The number of pending listings remained stable at 21 houses. This number has not rebounded well after all of the closings last week and is beginning to concern us. Average days on the market for pendings is down again to 111 days. There is now a 55 day difference between the Active and Pending listings. That shows us there are still too many sellers out there that are being unrealistic in their asking price. There have been 378 properties Closed since 01-01-07, with an average days on market time of 114 days.

Check out Our Blog from one year ago. Interest rates were 5.625% and we had 212 Active listings in Owatonna. It is interesting to see that one year ago we had almost the exact same listing count & the same interest rates. We are down on Closed listings by 8.5% vs 2006. So in spite of all of the negative media attention, real estate in Owatonna in still selling well. It is however taking 22% longer to sell those houses than it did in 2006.

Home buyers, now is a golden time to be purchasing a home. Interest rates are low & many home prices have been reduced.

Some other interesting statistics about the homes currently active in the market. 14.4% of the homes are new construction (they don't count in the days-on-market count because of a quirk in our MLS System), 8.25% of the homes have been through foreclosure and 56.3% of the homes have had price reductions.

December 1, 2007, BRRR - It's snowing

First major winter storm today. All of our open houses were slow. We had 7 houses open and only had 1 happy looker through total. But I don't blame people for not coming out today, it's cold, slippery, and just not fun today. Now in two months, a day like today will be no big deal, but today is the first big snow. Shold be some interesting stats to look at on Monday with all of the closings that happened on Friday as well as the number of listings that expired at the end of November. Until then, stay warm.

November 30, 2007

Sorry about the delay writing this post, it has just been a hectic week. Current listing inventory - 220 active listings in Owatonna as of today that number had dropped a little bit lower during the week but rebounded as we finished the week. Average days on the market has remained fairly stable at 168 days (that's 5.6 months gang). The number of pending listings dropped to 22 houses. This number has not rebounded well and is of some concern. There are a large number of closings this week, as we again reach the end of the month. Average days on the market for pendings is down dramatically to 115 days. There have been 377 properties Closed since 01-01-07, with an average days on market time of 114days.

Folks we have said it before, but it bears repeating. DO NOT TEST THE WATER FOR A FEW WEEKS WITH A HIGHER PRICE. There are sharks and piranhas out in that water and you will not like what happens if you come on the market at the wrong price.

Interest Rates have dropped slightly to 5.75% on November 29, 2007. Rates have fallen in anticipation of the Fed cutting interest rates at their meeting on the 11th of December.

Check out our Market Absorption Chart. It shows the market activity by price range and can assist you when pricing your home for sale.

November 21, 2007

Current listing inventory - 222 active listings in Owatonna as of today. The inventory has snuck down a bit this week. Average days on the market has remained stable at 167 days (that's 5.6 months gang). The number of pending listings stayed at 30 houses. This number has not rebounded as well as we would like to have seen and is of some concern. There will be a large number of closings at the end of next week as we again reach the end of the month. Average days on the market for pendings is up to 141 days. There have been 363 properties Closed since 01-01-07, with an average days on market time of 112 days.

Folks we have said it before, but it bears repeating. You have to be realistic with your pricing , when bringing your home on the market. In addition, your home must sparkle & shine or the price must reflect the fact that there is work that needs to be done. DO NOT TEST THE WATER FOR A FEW WEEKS WITH A HIGHER PRICE. There are sharks and piranhas out in that water and you will not like what happens if you come on the market at the wrong price.

You can view our complete Home Sellers Guide if you are looking for more tips on selling your home. We also have a For Sale By Owner Manual available in print, if you are interested in selling your home on your own, that we would love to provide you with as well. Give us a call 507-390-2121 or info@BartleyGroup.com

Interest Rates have dropped slightly to 6.000% on November 21, 2007.

Check out our Market Absorption Chart. It shows the market activity by price range and can assist you when pricing your home for sale.

Our Active Listings

November 18, 2007

Well it's official, we have now been posting to this blog for over one full year. It is interesting to to go back and see where the real estate market was then and where it is now. It is also fun for us to go back to the early days of this blog and see how it has changed & progressed over the last 12 months. We like to think it has changed for the better. We know we have a number of loyal readers that visit regularly and we would love to have comments about what you like or dislike about what we are posting here. Our intention is to continue posting to this blog and in the near future start an additional blog that allows us to povide more in-depth information on buying and selling a home. A very big thank you to all of you loyal visitors for sticking with us.

November 18, 2007

Current listing inventory - 226 active listings in Owatonna as of today. Average days on the market has risen to 167 days (that's 5.6 months gang). The number of pending listings has dropped to 30 houses. This number has not rebounded as well as we would like to have seen and is of some concern. Average days on the market for pendings is up to 140 days. There have been 361 properties Closed since 01-01-07, with an average days on market time of 111 days. We are again seeing the gap continue to grow between the days on market of the Active vs Closed listings.

Folks we have said it before, but it bears repeating. You have to be realistic with your pricing , when bringing your home on the market. In addition, your home must sparkle & shine or the price must reflect the fact that there is work that needs to be done. DO NOT TEST THE WATER FOR A FEW WEEKS WITH A HIGHER PRICE. There are sharks and piranhas out in that water and you will not like what happens if you come on the market at the wrong price.

A few more tips this week for home sellers:

• Keep the grass cut and the weeds pulled during the growing season
• With winter almost upon us make sure the driveway and sidewalks are shoveled and any icy spots are sanded and salted.
• Now that it is getting dark ealry, make sure to have ALL lights on inside & outside for all showings.
• Put a rug in your front entry for shoes and boots as we enter into the snow & slush season.
• Put up some outside holiday decorations & lighting to increase curb appeal.
• Keep in clean, with the average time on market now almost 6 months, the tendency is to let the cleaning slide a bit after several months, keep your home sparkling.

You can view our complete Home Sellers Guide or you can always call or e-mail us any real estate question you might have. 507-390-2121 or info@BartleyGroup.com

Interest Rates have remained stable at 6.125% on November 18, 2007.

Check out our Market Absorption Chart. It shows the market activity by price range and can assist you when pricing your home for sale.

November 6, 2007

Current listing inventory - 229 active listings in Owatonna as of today. Average days on the market has risen slightly to 161 days. The number of pending listings has dropped to 33 houses. Average days on the is up to 117 days. This drop in Pending listings was expected as we reached the end of October but would like to see that number rebound a little bit faster. There have been 349 properties Closed properties since 01-01-07, with an average days on market time of 113 days. We are again seeing the gap grow between the days on market of the Active vs Closed listings, Pricing a home realistically is paramount

A few more tips this week for home sellers:

• Remove a bulky piece or two of furniture, the room will appear larger
• Pack up all of the of season clothes and shoes from your closets and store them in the basement or garage (or better yet rent a offsite storage facility)
• With the winter season upon us, make sure to keep the thermostat set at 70 or above, you want the house to be cozy when buyers walk in (now is not the time to try & save a few $$$ on heat)
• Offer rewards to your children for keeping their things picked up
• Make sure to leave All Lights on for all showings

We'll try to include a few additional tips with each of the next several posts. You can always call or e-mail us any real estate question you might have. 507-390-2121 or info@BartleyGroup.com

Interest Rates climbed a bit yesterday to 6.125% on November 6, 2007.

Check out our Market Absorption Chart is available. It shows the market activity by price range. This allows you to see which price ranges are selling more quickly than others. For example, instead of pricing your home at $305,000, where there is a 12.8 month supply of homes it would be better to price it at $299,999 where there is only a 4.3 month supply of homes to be sold.

November 1, 2007

Current listing inventory - 224 active listings in Owatonna as of today. Average days on the market has ecome down slightly to 159 days. There were quite a few listings that expired at midnight last night and we will have to wait a few days to see if some of those sellers re-list their homes or will stay off the market. This is a fabulous thing to see the listing count drop down and we are crossing our fingers and hoping the count continues to keep going down. As we have posted before, our group is hoping to see 200 or less listings by 01-01-08. The number of pending listings has dropped to 34 houses. Average days on the is up to 115 days. This drop in Pending listings was expected as we reached the end of the month because end-of-month is always a busy closing time. There have been 346 properties Closed properties since 01-01-07, with an average days on market time of 114 days.

We do understand the frustration that many of you are experiencing in our current real estate market. We are listing a few tips below that may help you get you home sold a little quicker. The number one item of course is price, however if financial circumstances preclude you from reducing the asking price any lower, try a few of the tips below.

• Reduce the price (price might not be the problem, but it is always the solution)
• Clean!!!!! (we can't stress this enough, today's buyers want it ready to move into)
• Paint (same as cleaning, paint is low cost, high impact choose neutral colors)
• Reduce clutter (pack up the knick-knacks and faily treasures)
• Clean!!!!! (we continue to tour houses weekly that are not clean and picked up)
• Open the blinds and drapes for showings, brighten it up inside
• Replace any energy saver fluorescent bulbs with standard light bulbs (incandescent light is more warm and inviting, go with the highest wattage bulb the fixture will take)
• Clean!!!!! (pick-up the dirty clothes from the floor and wash the dishes in the kitchen sink)
• Get rid of pet & cooking smells, do not use scented candles or air freshners (today's buyers become suspicious and will think you are trying to hide something)

We'll try to include a few additional tips with some of the next posts. You can always call or e-mail us any real estate question you might have.

Interest Rates climbed a bit yesterday to 6.000% on October 31, 2007 after the announcement that the Fed dropped interest rates. The bond market got a little bit iffy yesterday after the announcement and this helped to drive up mortgage rates.

Our new Market Absorption Chart is available. It shows the market activity by price range. This allows you to see which price ranges are selling more quickly than others. For example, instead of pricing your home at $305,000, where there is a 12.8 month supply of homes it would be better to price it at $299,999 where there is only a 4.3 month supply of homes to be sold.

Just a reminder, in addition to this market condition blog, we represent buyers and sellers in real estate transactions in and around the Owatonna area. If you are thinking of buying or selling a home or know of some one that is, please give us a call (507) 390-2121 or drop an e-mail to info@BartleyGroup.com

We hope this Blog helps point out how knowledgable we are on what is happening in the local real estate market.

October 31, 2007

The Fed Lowers Interest Rates Oct. 31 (Bloomberg) -- The Federal Reserve cut its benchmark interest rate by a quarter point to 4.5 percent and signaled it's reluctant to lower borrowing costs further.

Interest Rates rose slightly 6.000% on October 31, 2007.

Our new Market Absorption Chart is available. It shows the market activity by price range. This allows you to see which price ranges are selling more quickly than others. For example, instead of pricing your home at $305,000, where there is a 12.8 month supply of homes it would be better to price it at $299,999 where there is only a 4.3 month supply of homes to be sold.

October 29, 2007

Current listing inventory - 232 active listings in Owatonna as of today. Average days on the market in Owatonna has edged up slightly to 163 days. The number of pending listings has slid to 43 houses. Average days on the is at 99 days. There have been 335 properties Closed properties since 01-01-07, with an average days on market time of 116 days. We expect to see the pending count drop considerably as we reach the end of the month. We should also see the closed count climb as well.

Interest Rates remained stable at 5.875% on October 25, 2007. Interest rates have fallen recently on the expectation that the Fed will cut rates again at their next meeting.

Our new Market Absorption Chart is available. It shows the market activity by price range. This allows you to see which price ranges are selling more quickly than others. For example, instead of pricing your home at $305,000, where there is a 12.8 month supply of homes it would be better to price it at $299,999 where there is only a 4.3 month supply of homes to be sold.

Just a reminder, in addition to this market condition blog, we represent buyers and sellers in real estate transactions in and around the Owatonna area. If you are thinking of buying or selling a home or know of some one that is, please give us a call (507) 390-2121.

As you can see, we are current on what is happening in the local real estate market.

October 26, 2007

Current listing inventory - 232 active listings in Owatonna as of today. Inventory is up one house over the last several days. Average days on the market in Owatonna has crept down slightly to 160 days. The newer listings are continuing to see offers. It would be great to see the number of active listings drop below 200 by 12-31-07. The number of pending listings has climbed to 46 houses. Average days on the market has risen slightly but is still significantly lower than the active listings at 101 days. This is due to quite a few of the new listings receiving offers within the first 10-15 days or so of being listed. There have been 330 properties Closed properties since 01-01-07, with an average days on market time of 116 days. We expect to see the pending count drop considerably next week as we reach the end of the month. We should also see the closed count climb as well.

Interest Rates fell a little lower this week to 5.875% on October 25, 2007. Interest rates have fallen on the expectation that the Fed will cut rates again at their meeting next week.

Housing news this week was mixed New Home Sales were up in September but not as much as hoped for while Existing Home Sales fell.

Just a reminder, in addition to this market condition blog, we represent buyers and sellers in real estate transactions in and around the Owatonna area. If you are thinking of buying or selling a home or know of some one that is, please give us a call (507) 390-2121.

We're sure you can see that we are current on what is happening in the local real estate market.

October 24, 2007

Current listing inventory - 231 active listings in Owatonna as of today. Inventory has dropped just a bit more over the last several days. Average days on the market in Owatonna has jumped to 161 days. The newer listings are getting the offers and dropping out of active category leaving the older listings which drives up the days on market count. It would be great to see the number of active listings drop below 200 by 12-31-07. The number of pending listings has remained at 45 houses. Average days on the market has remained remarkably low at 92 days. This is due to quite a few of the new listings receiving offers within the first 10-15 days or so of being listed. There have been 330 properties Closed properties since 01-01-07, with an average days on market time of 116 days.

Interest rates are excellent and there are quite a few good loan programs available. Also many of the lenders are offering specials that will save you quite a bit of money on closing costs or loan processing fees.

Interest Rates remained stable at 6.000% on October 22, 2007.

Is it a buyers market? Yes it is, without a doubt. Buyers with no home home to sell, that are pre-approved with a lender have a wonderful selection of homes to choose from and some bargaining power. When you find a home you like, write an offer at the price that seems fair to you, don't be surprised if the sellers come back with a counter-offer. There are some bargains out there as we have mentioned in previous posts. However, you are for the most part, not shopping at the closeout rack. We are seeing deals go together much faster and easier when both parties are being realistic.

Try to listen to your Real Estate Professional and their suggestions of price.

Corrections Made

We want to apologize to all of you you hace tried to view the Closed listings the last several weeks. We just found out they were linking to the wrong document. We have fixed all of the links, thank you for the e-mails pointing this out. As always, feel free to post a comment or send an e-mail if you notice a mistake in this blog.

Thanks,

The Bartley Group

October 22, 2007

Current listing inventory - 233 active listings in Owatonna as of today. Inventory has dropped just a bit more over the last several days and that contiues to be encouraging. Average days on the market in Owatonna has climbed to 142 days. The newer listings are getting the offers and dropping out of active category leaving the older listings which drives up the days on market count. The number of pending listings has dropped slightly to 45 houses. Average days on the market has remained remarkably low at 90 days. This is due to quite a few of the new listings receiving offers within the first 10 days or so of being listed. There have been 327 properties Closed properties since 01-01-07, with an average days on market time of 116 days.

Interest rates are excellent and there are quite a few good loan programs available. Also many of the lenders are offering specials that will save you quite a bit of money on closing costs or loan processing fees.

Interest Rates dropped just a tick to 6.000% on October 22, 2007.

Year-to-date closed listings 2007 vs 2006 are as follows: Closed 01-01-2006 thru 10-22-2006 369 homes with an average days on market time of 96 days. Average closed price $172,761 Closed 01-01-2007 thru 10-22-2007 327 homes with an average days on market time of 116 days. Average closed price $170,182. Those statistice show we are down 14% in homes closed in 2007, up 21% in days on market time, and down 1.5% in average sales price.

THAT'S NOT BAD FOLKS! When you stop to think about how we are being told every days that real estate is in horrible condition, houses are losing their values, foreclosures are increasing, and home buyers can make any kind of offer they like. In our little real estate world here in Owatonna being down 14% isn't good, but it isn't as bad as you are being led to believe.

Is it a buyers market? Yes it is, without a doubt. Buyers with no home home to sell, that are pre-approved with a lender have a wonderful selection of homes to choose from and some bargaining power. When you find a home you like, write an offer at the price that seems fair to you, don't be surprised if the sellers come back with a counter-offer. There are some bargains out there as we have mentioned in previous posts. However, you are for the most part, not shopping at the closeout rack. We are seeing deals go together much faster and easier when both parties are being realistic.

Try to listen to your Real Estate Professional and their suggestions of price.

October 17, 2007

Current listing inventory - 235 active listings in Owatonna as of today. Inventory has dropped quite a bit over the last week and that is an AWESOME sign. We've been trying to write this post for the last three days but every time that we checked the inventory it just kept dropping. Average days on the market in Owatonna has climbed to 140 days. The newer listings are getting the offers and dropping out of active category leaving the older listings which drives up the days on market count. The number of pending listings has also risen to 46 houses. Average days on the market has dropped dramatically for this category to 85 days. This is due to quite a few of the new listings receiving offers within the first 10 days or so of being listed. There have been 321 properties Closed properties since 01-01-07, with an average days on market time of 117 days.

As mentioned during one of last week's posts, we have been seeing a mini-trend recently of homes getting an offer very quickly if they are ready to go are are priced correctly for the current market. If they are not priced correctly buyers are simply ignoring them.

Buyers, if you have been considering jumping into the market, now is a good time to get off the couch. There are quite a few excellent opportunities available in our current market. We hear almost daily comments like "it's priced at X but they would be willing to sell it for Y" (put your own price range in for the X & Y). In addition interest rates are still excellent and there are quite a few good loan programs available. Also many of the lenders are offering specials that will save you quite a bit of money.

Interest Rates dropped just a tick to 6.250% on October 17, 2007.

One statement we hear time after time from home sellers is "We just want to try it at this price for two weeks". In a recent training seminar the trainer (David Knox) drove home the imporatnce of correct pricing during thre first two weeks by saying "Sure you can try it at your price for two weeks! Just not the first two weeks!!". Try to listen to your Real Estate Professional and their suggestions of price.

October 11, 2007

Not a significant number of changes to report today. However there were 13 new listings on tour yesterday. It's been a strange kind of week in real estate. 13 new listings, however the number of active listings only climbed about 4 houses since last week, the pendings actually fell 1 in the count and the solds climbed 5.

That is indicating some homes must have been removed from the marketplace (either through expiration or being withdrawn). When looking at the big picture, it really doesn't matter right now how a house comes off of the market. Of course if it your house we are talking about your house you would like to see it move to the Pending or Closed category. The big thing right now is to see the number of homes on the market decrease and to stimulate some buying activity.

One mini-trend this week is the number of recent listings (1-14 days) that are seeing a large number of showings and several receiving offers, while most of the older listings are seeing few showings and even fewer offers. We did notice on this weeks tour that several of the new listings were priced exceptionally well (at least two of this weeks tour homes and two from last weeks tour have received offers already).

There are buyers out there that are pre-approved with a lender, have no house to sell and are ready to buy, however sellers have to be realistic with their selling price and have the home completly ready to go when the house comes on the market.

One statement we hear time after time from sellers is "We just want to try it at this price for wo weeks". In a recent training seminar the trainer (David Knox) drove home the imporatnce of correct pricing during thre first two weeks by saying "sure you can try it at your price for two weeks, just not the first two weeks!!". Try to listen to your Real Estate Professional and their suggestions of price.

October 9, 2007

Current listing inventory - 253 active listings in Owatonna as of today. Inventory has climbed again over the last week and that is not necessarily a good sign. We were getting close to the 2006 high of 243 listings in October 2006 but have now moved away from that again. Average days on the market in Owatonna has dropped just a bit to 133 days. This is not always a good sign though, because as we get new listings on the market they have zero days on the market and that will skew the average quite a bit. The number of pending listings has fallen a little bit to 39 houses. Average days on the market has remained consistent at 167 days. There have been 315 properties Closed properties since 01-01-07, with an average days on market time of 126 days.

If you are a seller in todays market, you have to realistic on your price, have everything ready to go on your house, AND be patient while waiting for your home to sell. In addition there are several price ranges that have been more active in 2007 than others. You can click on the link to review the Market Absorbtion chart.

Interest Rates climbed to 6.375% on October 9, 2007. p>

October 2, 2007

Current listing inventory - 249 active listings in Owatonna as of today. Inventory dropped again over the last week and that s a great sign. We are close to the 2006 high of 243 listings in October 2006. Average days on the market in Owatonna has dropped quite a bit to 134 days. This is also a good sign as some of the long time listings dropped out of the active category. The number of pending listings has remained balanced at 41 houses. Average days on the market has dropped down slightly to 167. There have been 310 properties Closed properties since 01-01-07, with an average days on market time of 124 days. There continues to be encouraging signs this week. The active inventory has dropped again the pendings have remained stable and the closed property list continues to grow. These signs are positive for us here in Owatonna.

Last year at this same time, we had 350 homes with an average day on market time of 93 days. So 2006 compared to 2007 we are down 11.5% in sales (not as bad as much of the media would lead you to believe). The big change however, it has taken 33% longer to sell those homes in 2007 than it did in 2006.

If you are a seller in todays market you have to realistic on your price, have everything ready to go on your house, AND be patient while waiting for your home to sell. In addition there are several price ranges that have been more active in 2007 than others. You can click on the link to review the Market Absorbtion chart.

Interest Rates fell slightly to 6.125% on October 2, 2007. p>

September 26, 2007

Current listing inventory - 256 active listings in Owatonna as of today. Inventory dropped again over the last couple of days and that continues to be a good sign. Average days on the market in Owatonna has bumped up a bit to 150 days. The number of pending listings has remained fairly stable at 41 houses. Average days on the market has climbed up to 170. This big change is due to some of the longer term listings getting offers. There have been 301 properties Closed properties since 01-01-07, with an average days on market time of 125 days. There continues to be encouraging signs this week. Showings on our listings have increased slightly & the active inventory has dropped again. These signs are positive for us here in Owatonna.

Last year at this same time, we had Sold 333 homes with an average day on market time of 92 days. So 2006 compared to 2007 we are down 11.3% in sales (not as bad as much of the media would lead you to believe). The big change however, it has taken 26% longer to sell those homes in 2007 than it did in 2006.

If you are a seller in todays market you have to realistic on your price, have everything ready to go on your house, AND be patient while waiting for your home to sell. As we mentioned above it is taking an average of 170 days (5 1/2 months) for homes to go pending right now. In addition there are several price ranges that have been more active in 2007 than others. You can click on the link to review the Market Absorbtion chart.

Interest rates climbed slightly to 6.25% on September 26, 2007.

September 24, 2007

Current listing inventory - 260 active listings in Owatonna as of today. Inventory dropped again this week and we are hoping that is going to be a trend that will continue. Average days on the market in Owatonna has bumped up a bit to 150 days. The number of pending listings has remained stable at 40 houses. Average days on the market has leapt up to 160. This big change is due to some of the longer term listings getting offers. There have been 299 properties Closed properties since 01-01-07, with an average days on market time of 124 days. There have been several encouraging signs this week, the active inventory has dropped again, pending listings have remained even, and 11 homes closed last week. All of these signs are positive for us here in Owatonna. Are we out of this slow down completely? We don't believe so, but the signs are certainly pointing in the right direction.

Last year at this same time, we had Sold 333 homes with an average day on market time of 92 days. So 2006 compared to 2007 we are down 11.3% in sales (not as bad as much of the media would lead you to believe). The big change is, it has taken 26% longer to sell those homes in 2007 than it did in 2006. If you are a seller in todays market you have to realistic on your price, have everything ready to go on your house, AND be ready to be patient while waiting for your home to sell. In addition there are several price ranges that have been more active in 2007 than others. You can click on the link to review the Market Absorbtion chart.

Interest rates remained calm at 6.125% on September 24, 2007.

September 18, 2007

Sept. 18 (Bloomberg) -- The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent. This is some of the news we have been waiting for. Hopefully today's movemnet by the Fed will stimulate real estate activity.

What does this mean to us here in Owatonna, MN? We aren't sure yet at this point exactly what the reaction will be from the real estate market and from the mortgage lenders. Experts are mixed as to what effect this cut will have on the real estate market and whether or not we have reached the bottom of this housing slump.

We believe that any rate cut at this time is good and the Fed held the door open that more cuts may be coming in the future.

The stock market certainly liked what it saw this afternoon as Sept. 18 (Bloomberg) -- U.S. stocks rallied after the Federal Reserve cut.

Home buyers, if you have been sitting on the fence watching the market for the last several months now may be a good time to start getting serious about house hunting and talking to a lender. Most of the good lenders offer rate lock protection and one-time float downs if you lock in to a rate and the mortgage rates drop before you close on your new home. Check out the offerings from your local lenders or from Brenda Bednar at Advisor's Mortgage, LLC.

September 16, 2007

Current listing inventory - 268 active listings in Owatonna as of today. Inventory dropped slightly last week and we are hoping that is going to be a trend that will continue. Average days on the market in Owatonna has remained stable at 149 days. The number of pending listings has risen just a bit this week to 40 houses. Average days on the market is 137. There have been 288 properties Closed properties since 01-01-07, with an average days on market time of 124 days. Interest rates climbed again last week to 6.125% on September 14, 2007. All eyes will be watching the Fed on Tuesday. The Fed is expected to drop interest rates that should spur more market activity.

September 10,2007

Current listing inventory - 269 active listings in Owatonna as of today. Inventory has again popped up slightly last week and we are hoping that it is not going to climb significantly. Average days on the market in Owatonna has climbed slightly and is at 149 days. The number of pending listings has fallen this week to 39 houses. Average days on the market is 129. There have been 283 properties Closed properties since 01-01-07, with an average days on market time of 123 days. Interest rates dropped twice last week to 5.75% on September 6, 2007. Home Buyers - If you've been sitting back, waiting for the right to to jump in and purchase a new home, it is looking like now may be a good time. Finally, it seems the Fed is taking the slump in the real estate market seriously and the recent job sector loss seems to have been the key point. The Fed is projected to drop interest rates on 9-18-07 and that should spur more market activity.

September 4, 2007

Current listing inventory - 261 active listings in Owatonna as of today. Inventory has again dropped slightly and that continues to be an excellent sign for home sellers. Average days on the market in Owatonna has actually dropped a tick again and is 144 days. The number of pending listings has fallen this week to 40 houses, but this was to be expected as we approached the end of the month. Average days on the market is 129. An interesting stat since last week, we jumped up 24 days in the days on market count in the pendings. That is due to several of the long time listings (2-400+day listings, 1-300+day & 5-100+ day) finally getting an accepted offer. There have been 281 properties Closed properties since 01-01-07, with an average days on market time of 122 days, we are continuing to see homes get sold. A very encouraging indicator this week is the fact that we have had 15 homes close since last week but the pendings have only fallen by 6, which means we were seeing good home selling activity this past week & the last week of August is traditionally one of the slowest weeks of the year. Interest rates have remained stable at 6.125% on August 27, 2007. Home Buyers - If you've been sitting back, waiting for the right to to jump in and purchase a new home, it is starting to look like now is a good time. The Fed is expected to drop interest rates on 9-18-07 and that should spur more market activity.

August 30, 2007

Current listing inventory - 268 active listings in Owatonna as of today. Inventory has again dropped slightly during the week and that is an excellent sign for home sellers. Average days on the market in Owatonna has actually dropped a tick and is 145 days. The number of pending listings has fallen this week at 43 houses, but this was to be expected as we approached the end of the month, with an average days on the market of 133. Interesting this week as we jumped up 28 days in the days on market count in the pendings. Our guess would be one or more of the long time listings finally got an accepted offer. There have been 276 properties Closed properties since 01-01-07, with an average days on market time of 121 days, we are continuing to see homes get sold. Very encouraging this week is the fact that we have had 10 homes close already this week but the pendings have only fallen by 5, which means we are seeing good home selling activity this week. Interest rates have dropped slightly to 6.125% on August 27, 2007.

August 27, 2007

Current listing inventory - 273 active listings in Owatonna as of today. Inventory has again dropped just a bit the past week and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has continued to sneak up a bit and is 146 days. The number of pending listings has stayed level this week at 46 houses, with an average days on the market of 105. As we have posted previously we believe that a number of correctly priced homes have come into the market over the last month or so and have received offers quickly and therefore the number of days on market for the pendings is significantly lower than the active listings. Sellers have to be realistic when pricing their homes, especially during he first 2-3 weeks of the property coming onto the market. There have been 266 properties Closed properties since 01-01-07, with an average days on market time of 124 days, we are continuing to see homes get sold. Expect to see the number of pendings drop this week as we approach the end of the month. Interest rates have dropped slightly to 6.125% on August 27, 2007.

August 22, 2007

Current listing inventory - 278 active listings in Owatonna as of today. Inventory has again dropped just a bit the past week and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has crept up a bit again and is 142 days. The number of pending listings has risen just a bit this week to 46 houses, with an average days on the market of 106. The days on the market gap had shrunk considerably the last few weeks between the active, pending & sold properties but begun to widen considerably again. We believe that a number of correctly priced homes have come into the market over the last month or so and have received offers quickly and therefore the number of days on market for the pendings is significantly lower than the active listings. There have been 262 properties Closed properties since 01-01-07, with an average days on market time of 124 days, we are continuing to see homes get sold. Interest rates have dropped slightly to 6.25% on August 21, 2007. As we mentioned last post, even with all of the doom & gloom about real estate that is in the media almost daily, we are only down 13% in sales over the same period last year. The most noticeable change is the increase in market time, that time is up 36% over the same time period last year.

August 13, 2007

Current listing inventory - 282 active listings in Owatonna as of today. Inventory has remained stable over the last two weeks and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has crept up a bit again and is 135 days. The number of pending listings has fallen just a bit this week to 42 houses, with an average days on the market of 118. The days on the market gap had shrunk considerably the last few weeks between the active, pending & sold properties but is now beginning to open up slightly again. There have been 248 properties Closed properties since 01-01-07, with an average days on market time of 124 days. Interest rates have remained stable at 6.375% on August 13, 2007. Even with all of the doom & gloom about real estate that is in the media almost daily, we are only down 13% in sales over the same period last year. The most noticeable cahnge is the increase in market time, that time is up 36% over the same time period last year.

August 7, 2007

Current listing inventory - 282 active listings in Owatonna as of today. Inventory has dropped again over the last several days and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has crept up a bit again and is 131 days. The number of pending listings has fallen somewhat this week to 43 houses, with an average days on the market of 122. The days on the market gap has shrunk considerably the last few weeks between the active, pending & sold properties. There have been 242 properties Closed properties since 01-01-07, with an average days on market time of 123 days. Interest rates have remained stable at 6.375% on August 3, 2007. Don't forget we've made our "Sellers Guide available via the web, take a few minutes to look through the guide for tips & tricks on staging your home to sell quickly.

August 1, 2007

Current listing inventory - 284 active listings in Owatonna as of today. Inventory has dropped again over the last several days and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna is 128 days. The number of pending listings has risen a bit this week to 50 houses, with an average days on the market of 122. There have been 231 properties Closed properties since 01-01-07. with an average days on market time of 122 days. Interest rates have fallen a bit to 6.375% on July 31, 2007

July 28, 2007

Current listing inventory - 293 active listings in Owatonna as of today. Inventory has dropped slightly over the last several days and that is an encouraging sign for home sellers. Average days on the market in Owatonna is 130 days. The number of pending listings has risen a bit this week. Currently we have 48 houses pending in Owatonna with an average days on the market of 115. Closed properties since 01-01-07. There have been 224 properties sold so far this year with an average days on market time of 123 days. Interest rates have remained stable at 6.5%. Interest rates are always stated for a 30 year fixed rate loan. We are now making our "Sellers Guide available via the web, take a few minutes to look through the guide for tips & tricks on staging your home to sell quickly.

July 18, 2007

Current listing inventory - 298 active listings in Owatonna as of today. Inventory has continued to remain high. Average days on the market in Owatonna is 129 days. The number of pending listings has fallen this week. Currently we have 49 houses pending in Owatonna with an average days on the market of 100. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. Closed properties since 01-01-07. There have been 210 properties sold so far this year with an average days on market time of 124 days. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.50% on July 18, 2007. Interest rates are always stated for a 30 year fixed rate loan

July 2, 2007

Current listing inventory - 286 active listings in Owatonna as of today. Inventory has continued to remain high. Average days on the market in Owatonna has fallen a bit again this week to 123 days. The number of pending listings has remained stable this week. Currently we have 59 houses pending in Owatonna with an average days on the market of 114. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. Closed properties since 01-01-07. There have been 184 properties sold so far this year with an average days on market time of 120 days. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.375% on June 19, 2007. Interest rates are always stated for a 30 year fixed rate loan. Don't forget that, clicking of the words "Active" or "Pending" or "Closed" will bring up a grid sheet showing all of the properties that are in that category.

June 25th, 2007

Current listing inventory - 290 active listings in Owatonna as of today. Inventory has continued to remain high. Average days on the market in Owatonna has crept up a bit again this week to 126 days. The number of pending listings has fallen this week which is to be expected as we get closer to the end of the month. Currently we have 59 houses pending in Owatonna with an average days on the market of 98. This difference between the average days on the market in the active listings and the pending listing is a very telling sign of how important it is to price a property correctly during the first 30 days of the listing. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. A new feature we started last week is the inclusion of Closed properties since 01-01-07. There have been 174 properties sold so far this year with an average days on market time of 123 days. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.375% on June 19, 2007. Interest rates are always stated for a 30 year fixed rate loan. Don't forget that, clicking of the words "Active" or "Pending" or "Closed" will bring up a grid sheet showing all of the properties that are in that category.

June 20, 2007

Current listing inventory - 289 active listings in Owatonna as of today. Inventory has climbed again this week. We continue to set new high's every week. Average days on the market in Owatonna has crept up a bit again this week to 125 days. The number of pending listings has risen this week which is a good sign that homes are still selling. Currently we have 61 houses pending in Owatonna with an average days on the market of 94. This difference between the average days on the market in the active listings and the pending listing is a very telling sign of how important it is to price a property correctly during the first 30 days of the listing. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. A new feature starting today is the inclusion of Closed properties since 01-01-07. There have been 166 properties sold so far this year with an average days on market time of 126 days. We have seen certain price ranges with very large differences between the days on market time of Active vs Pending vs Closed. The $130,000 to $150,000 price range for example varies more than 30 days of market time. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.375% on June 19, 2007. Interest rates are always stated for a 30 year fixed rate loan.

June 11, 2007

Current listing inventory - 282 active listings in Owatonna as of today. Inventory has climbed again this week. Average days on the market in Owatonna has dropped a bit again this week to 122 days. That isn't necessarily a sign of houses selling quicker, but more of a function of more new listings on the market bringing the average number down. The number of pending listings has risen this week which is a good sign that homes are still selling. Currently we have 54 houses pending in Owatonna with an average days on the market of 103. This number has also started to climb at bit recently and will bear watching over the next several weeks. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates went up twice last week and have crept up a little this week and are sitting at 6.500% on June 11, 2007. Interest rates are always stated for a 30 year fixed rate loan.

June 6th, 2007

Current listing inventory - 278 active listings in Owatonna as of today. Inventory has climbed again this week and was actually up to 281 for a short while. Average days on the market in Owatonna has dropped a bit again this week to 125 days. The number of pending listings has fallen this week which we expected because of the number of closings scheduled for the end of May. Currently we have 51 houses pending in Owatonna with an average days on the market of 92. An interesting point to compare is the average days on market between the active & pending properties. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates have jumped a bit this week and are sitting at 6.255% on June 6, 2007.

June 1, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has climbed a bit this week which is a little surprising because there have been quite a few closings this week because of the end of the month. Average days on the market in Owatonna has dropped a bit this week to 128 days. The number of pending listings has fallen this week which we expected because of the number of closings. Currently we have 60 houses pending in Owatonna with an average days on the market of 93. An interesting point to compare is the average days on market between the active & pending properties. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates have jumped a bit this week and are sitting at 6.125% on May 31st.

May 29, 2007

Current listing inventory - 268 active listings in Owatonna as of today. Inventory has remained stable for the last 2 weeks. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has crept up a little more again this week to 129 days. The number of pending listings has remained stable this week. Currently we have 65 houses pending in Owatonna with an average days on the market of 95. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have held steady, and are sitting at 6.00% on May 29th.

May 21, 2007

Current listing inventory - 267 active listings in Owatonna as of today. Inventory has dropped slightly. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has crept up slightly to 124 days. The number of pending listings has risen again this week. This is a good sign, homes are still selling here in Owatonna. Currently we have 65 houses pending in Owatonna with an average days on the market of 105. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have risen slightly, and are sitting at 6.00% on May 21st.

May 7, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has remained stable for the last 10 days. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has fallen to 118 days. As mentioned on April 16th this is probably due in part to the number of new listings on the market, new listings = many listings with low days on the market. The number of pending listings has risen a bit again this week. This is a good sign, homes are still selling here in Owatonna. Currently we have 54 houses pending in Owatonna with an average days on the market of 99. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have risen slightly, and are sitting at 5.875% on May 4th.

April 30, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has continued to rise through the rest of last week although not at such a rapid pace. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has fallen to 120 days. As mentioned on the 16th this is probably due in part to the number of new listings on the market, new listings = many listings with low days on the market. The number of pending listings has risen a bit this week. Currently we have 47 houses pending in Owatonna with an average days on the market of 100. Just under 50% of those pendings are homes less than $150,000. What is a little puzzling currently, is that in the past we have traditionally seen those same sellers then move up to more expensive homes. However we are not seeing the same amount of activity in some of the higher price ranges. We will keep watching. Interest rates have fallen slightly, probably due to the good news on inflation and are sitting at 5.75% on April 27th.

April 23, 2007

Current listing inventory - 265 active listings in Owatonna as of today. Inventory has continued to rise through the rest of last week although not at such a rapid pace. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has fallen to 119 days. As mentioned on the 16th this is probably due in part to the number of new listings on the market, new listings = many listings with low days on the market. The number of pending listings has droopped a bit this week. Currently we have 41 houses pending in Owatonna with an average days on the market of 95. Just under 50% of those pendings are homes less than $150,000. What is a little puzzling currently, is that in the past we have traditionally seen those same sellers then move up to more expensive homes. However we are not seeing the same amount of activity in some of the higher price ranges. We will keep watching. Interest rates have fallen slightly, probably due to the good news on inflation and are sitting at 5.75% on April 19th.

April 19, 2007

Current listing inventory - 262 active listings in Owatonna as of today. Normally we only update this blog on Monday's but inventory has continued to rocket up this week. Levels had been trending downward over the last 6 months but have now set a new high, blowing away the previous high of 243 in October 2006. This will bear watching over the next several weeks to see if it is only a quirk in the market or a trend to be concerned with. Average days on the market in Owatonna has fallen to 116 days. As mentioned on the 16th this is probably due in part to the number of new listings on the market, new listings = many listings with low days on the market. This will also bear watching over the next few weeks. We have begun this week to track the number of pending listings as well, this will tell us if we are seeing houses getting accepted offers. Currently we have 46 houses pending in Owatonna with an average days on the market of 96. Over 50% of those pendings are homes less than $150,000. What is a little puzzling currently, is that in the past we have traditionally seen those same sellers then move up to more expensive home. However we are not seeing the same amount of activity in some of the higher price ranges. We will keep watching. Interest rates have fallen slightly, probably due to the good news on inflation.

April 16, 2007

Current listing inventory - 250 active listings in Owatonna this week. Inventory has leapt up this week. Levels had been trending downward over the last 6 months but have now set a new high, blowing away the previous high of 243 in October 2006. This will bear watching over the next several weeks to see if it is only a quirk in the market or a trend to be concerned with. Average days on the market in Owatonna has fallen to 120 days. This is probably due in part to the number of new listings on the market, new listings = many listings with low days on the market. This will also bear watching over the next few weeks. Beginning this week we will now be tracking the number of pending listings as well, this will tell us if we are seeing houses getting accepted offers. Currently we have 50 houses pending in Owatonna with an average days on the market of 93. Interest rates had been staying stable for the six weeks but have risen slightly and have now been at 5.875% for a 30 year fixed (still a great rate) for a two week period. A new feature beginning this week, Clicking of the words "Active" or "Pending" will bring up a grid sheet showing the properties that are in that category.

May 14, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has remained stable for the last 2 1/2 weeks. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has crept up slightly to 123 days. The number of pending listings has risen a bit again this week. This is a good sign, homes are still selling here in Owatonna. Currently we have 57 houses pending in Owatonna with an average days on the market of 99. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have risen slightly, and are sitting at 5.875% on May 11th.

April 9, 2007

Current listing inventory - 242 active listings in Owatonna this week. Inventory has crept up again this week. Levels had been trending downward over the last several months and are still one home less than the high of 243 in October. Some of this weeks jump in inventory may be due to a number of listings taken to participate in the "Affordable Homes Showcase" on the 21st of April. Average days on the market in Owatonna has remained stable and is 135 days. Interest rates had been staying stable for the six weeks but have risen slightly and have now been at 5.875% for a 30 year fixed (still a great rate)for a two week period.

April 2, 2007

Current listing inventory - 233 active listings in Owatonna this week. Inventory has crept up a few more homes this week. Levels had been trending downward over the last several months and are still down slightly from the high of 243 in October. Average days on the market in Owatonna has remained stable and is 135 days. Interest rates had been staying stable for the last six weeks but now have risen slightly and are at 5.875% for a 30 year fixed (still a great rate)on March 30th, 2007.

March 26, 2007

Current listing inventory - 230 active listings in Owatonna this week. Inventory popped up a few homes this week. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has risen slightly and is 135 days. Interest rates have been staying stable for the last six weeks and are at 5.75% for a 30 year fixed on March 26th, 2007.

March 19, 2007

Current listing inventory - 228 active listings in Owatonna this week. Inventory dropped a few homes this week. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has risen slightly and is 135 days. Interest rates have been staying stable for the last five weeks and are at 5.75% for a 30 year fixed on March 16th, 2007.

March 12, 2007

Current listing inventory - 231 active listings in Owatonna this week. Inventory had been stable over the last two weeks, however this week has jumped significantly. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has dropped slightly and is 131 days. Interest rates have been staying stable for the last four weeks and are at 5.75% for a 30 year fixed on March 9th, 2007.

March 5, 2007

Current listing inventory - 217 active listings in Owatonna this week. Inventory has been stable over the last two weeks. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has dropped slightly and is 134 days. Interest rates had been staying down but have crept up slightly this week and are at 5.75% for a 30 year fixed on March 5th, 2007. Tomorrow is Susan's Birthday, call her (507)475-3151 and wish her a happy brithday!

February 26, 2007

Current listing inventory - 217 active listings in Owatonna this week. Inventory has been stable over the last week. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has risen slightly and is 137 days. Interest rates had been staying down but have crept up slightly this week and are at 5.75% for a 30 year fixed on February 26th, 2007.

February 19, 2007

Current listing inventory - 219 active listings in Owatonna this week. Inventory is again edging up slightly. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has also risen slightly and is 134 days. Interest rates had been staying down but have crept up slightly this week and are at 5.75% for a 30 year fixed on February 19th, 2007.

February 12, 2007

Current listing inventory - 213 active listings in Owatonna this week. Inventory is again edging up slightly. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has also risen slightly and is 134 days. Interest rates had been staying down but have crept up slightly this week and are at 6.125% for a 30 year fixed on February 12th, 2007.

February 5, 2007

Current listing inventory - 207 active listings in Owatonna this week. Inventory had crept up slightly but is holding steady now. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna has fallen slightly and is 127 days. Interest rates have fallen slightly this week and are at 5.875% for a 30 year fixed on February 5th, 2007.

January 29, 2007

Current listing inventory - 207 active listings in Owatonna this week. Inventory had crept up slightly but is holding steady now. Levels had been trending downward over the last several months and are still down signifacantly from the high of 243 in October. Average days on the market in Owatonna is currently 134 days. Interest rates have begun to rise slightly and are at 6.125% for a 30 year fixed on January 29th, 2007

January 22, 2007

Current listing inventory - 210 active listings in Owatonna. Inventory is creeping up slowly again this week. Levels had been trending downward over the previous ten weeks and are down from the high of 243 in October. Average days on the market in Owatonna is currently 134 days. Interest rates continue to be stable and are very favorable at 5.75% for a 30 year fixed on January 12th, 2007.

January 15, 2007

Current listing inventory - 203 active listings in Owatonna. Inventory is creeping up slowly this week. Levels had been trending downward over the last ten weeks and are down from the high of 243 in October. Average days on the market in Owatonna is currently 133 days. Interest rates continue to be stable and are very favorable at 5.75% for a 30 year fixed on January 12th, 2007.

January 8, 2007

Current listing inventory - 195 active listings in Owatonna. Inventory is holding steady for the last two weeks and has been trending downward over the last ten weeks and is down from the high of 243 in October. Average days on the market in Owatonna is currently 135 days. Interest rates continue to be stable and are very favorable at 5.75% for a 30 year fixed on January 8th, 2007.

January 2, 2007

Current listing inventory - 192 active listings in Owatonna. Inventory is slowly declining for the last five weeks and has been trending downward over the last nine weeks and is down from the high of 243 in October. Average days on the market in Owatonna is currently 133 days, this has been trending upward slightly but has held steady for two weeks. Interest rates remained stable last week and continue to be very favorable and are at 5.75% for a 30 year fixed on January 2th, 2007.