The number of homes for sale in the Twin Cities metro area continues to decline relative to a year ago. As of Monday morning this week, there were 26,674 homes for sale in the region, down 20.9 percent from a year ago. In other words, we've lost 1 in 5 homes in our inventory in the last year. Sales are a different story. For the week ending June 20, there were 1,156 signed purchase agreements, up 32.1 percent from the same week in 2008. That's the 12th week of the last 13 to feature a year-over-year increase in sales activity exceeding 20 percent. We must bear in mind, however, that sales are only up in certain categories and price ranges. Year to date, traditional home sales (excluding foreclosures and short sales) are still down 17.8 percent from last year. New construction sales are ... 06/29/2009

Refund! That is a word sure to make anyone perk up their ears. And if you have ever had an FHA-insured mortgage then you should pay attention. While the refund process should be automatic, sometimes a refund gets missed or the payee can’t be located. First check the HUD website to see if you are owed a refund. You will need to enter your name or your FHA case number. To be eligible for an insurance premium refund, you must meet these requirements: acquired your loan after September 1, 1983 paid an up-front mortgage insurance premium at closing and did not default on your mortgage payments To be eligible for a distributive share from the Mutual Mortgage Insurance Fund you must meet the following: originated your loan before September 1, 1983 paid on your loan for more than seven years an... 06/26/2009

This shouldn’t surprise any locals, but Edina High School ranks as one of the top 110 high schools in the nation! Newsweek magazine released a list last week of the top 1500 high schools and Edina ranks at 108! Among the Minnesota schools on the list, Edina High School ranks at number 2. According to Newsweek: Public schools are ranked according to a ratio devised by Jay Mathews: the number of Advanced Placement, Intl. Baccalaureate and/or Cambridge tests taken by all students at a scEhool in 2008 divided by the number of graduating seniors. All of the schools on the list have an index of at least 1.000; they are in the top 6 percent of public schools measured this way. The Twin Cities area has 11 schools appearing on the list and Minnesota has 27 overall. This simply confirms what we h... 06/19/2009

The old Shakespeare-based adage “all the world’s a stage” is nowhere so true as in the world of modern real estate.  Staging, the art of preparing a home for sale by de-cluttering, depersonalizing, cleaning, repainting, rearranging, landscaping, and cosmetically improving a home to make it more saleable, has become the norm.  The theory is that when a home is properly staged, it will appeal to the largest number of buyers, sell more quickly, and sell for more.  While “staging” has always been a normal part of getting a home ready to sell, since the 1990’s, staging has become an industry of its own that has emphasized home presentation.  This theory is backed up with data from HomeGain.com.  For a modest investment, staging efforts bring three to six times their value increased prices, a... 06/12/2009

The month of May homes closed were was down from April.  On the positive note pending (agreed upond  purchase agreements) had a significant increase from April.  The importance of this is that when a home goes pending status it is usually scheduled to close in the following month.  In this case June "Solds" should have a significant increase. While the market has improved with some staggering percentages, Edina real estate has seen a slow down. Year To Date  for Edina Home Sales is down 21% from 2008, with an Average sale price decline of 5.4%.  Cummulative Days On Market is also down which is good as the homes new listed have an average days on market less than 2008. Edina homes for sale has a higher than desired number of homes on the market with a significant amount of new listings i... 06/05/2009

People are saying that mortgage loans are hard to come by, but that’s not true in all cases. Those with excellent credit and a reasonable income can still get a loan from a mortgage company or a bank. People with not-so-good credit are discovering that finding mortgage money can be a problem. For those with less than stellar credit but with average or higher incomes who want to take advantage of the lower priced properties that have flooded the housing market, the answer may be finding an Angel. An Angel is an individual investor, usually with cash to lend to home buyers or someone who has a preferred rate with a bank. Sometimes the Angel is a friend or relative, but there are professional Angels as well. This is how the angel system works: Let’s say that a distressed property is sellin... 05/28/2009

A shift has taken place in our real estate market.  Not the shift you might be thinking.  Today’s urban neighborhoods are being redeveloped as older homes succumb to new construction and whole house remodels.  This trend radically changes the buying and selling dynamic, as land and structure values must now be valued independently.  This change effect all buyers and sellers regardless of price rangeand the key to makeing a smart real estate decession is understanding the trends, patters, and pricing in these areas. It’s no surprise this trend has taken root.  For years now, good schools, safety, low taxes, commute times, convenience, and real neighborhoods have been drawing weary suburban dwellers back to the city, back to the best areas of the “sustainable urban core”.  The demand for ... 05/19/2009

December 9, 2008 RE: 2009 Street Reconstruction Projects - Resident Questionnaire Dear Resident: The City of Edina has initiated the process of roadway and utility improvements for the summer of 2009 for your neighborhood. The first step was to hold an open house on October 9, 2008, for you to become familiar with the process. The next step is to get feedback from you regarding a number of key components of the project. The information you share with us is essential in determining certain aspects of the project that may be constructed. The following information explains the questionnaire that is enclosed. An approximate construction area map is also included. After reading this letter completely, please complete the questionnaire and return by December 19, 2008, in the self-addressed st... 05/01/2009

Edina Gem: Centennial Lakes Park... by Twin Cities Homes for Sale     Centennial Lakes Park  near Southdale is one of my most favorite parks.  It’s a very popular park year around as it offers many wonderful activity for adults and children of all ages.  Dog owners and those who love walks can enjoy more than 1.5 miles of beautiful paved paths and beautiful landscaping. Some of the most popular summer activities include paddle boating, fishing, watching remote control sailboat races (by members of the Edina Model Yacht Club), golfing, croquet, or lawn bowling. This Edina complex offers many arts and entertainment events throughout the year, both indoors and outdoors.  The lakeside amphitheater seat a thousand people and can be full during popular concerts and performances.   Park Centru... 04/27/2009

EPS Information Release:  Police Make an Arrest in Possible Kidnapping   Edina Public Schools was informed by the Edina Police Department of a possible kidnapping involving elementary age students in the Concord neighborhood the afternoon of April 14th.  The involved students are all safe.   The police did arrest and placed a 21 year old male in custody soon after the incident occurred.  He remains in custody pending charges.   The district continues to work with the police department on this matter and will share more information as it becomes available.  Families are reminded again to make their children aware of the importance of knowing how to respond to strangers and staying safe.  On a personal note...we know the child that was approached.  She did an amazing job at handling the s... 04/15/2009

Electronics Recycling  Electronics recycling has never been easier or more important. Most electronics contain toxic metals such as lead, mercury and cadmium. If any of these contaminants get into our rivers, streams or lakes, they can harm our health and damage the environment. Hennepin County takes electronics free of charge, year-round, from residents at drop-off facilities in Brooklyn Park and Bloomington. South Hennepin Recycling and Problem Waste Drop-Off Center1400 W. 96th St., Bloomington Hennepin County Recycling Center and Transfer Station8100 Jefferson Highway, Brooklyn Park The facilities are open Tuesdays, Thursdays and Fridays: 10 a.m. to 6 p.m.; Wednesdays: 10 a.m. to 8 p.m.; and Saturdays: 8 a.m. to 5 p.m. Electronics accepted include TVs, computers (CPUs monitors, lapto... 04/08/2009

      Single Family Homes March 2009   With the cold spring and current economic woes, real estate market has been sluggish.  However, the activity has been picking up in the recent weeks.  Good news is that the foreclosure homes have been selling and there are fewer of them available.  In general, the inventory has come down and buyers experience a lot more competition now.   Current market activity in Edina:   All homes available for sale: 276 lender owned: 8 non-lender owned: 268   All pending transactions: 38 lender owned: 2 non-lender owned: 36   Sales closed this month: 21 lender owned: 2                    with average sale price of $230,500 non-lender owned: 19            with average sale price of $459,714       If you are looking for market information for condos, duplexes, or... 04/07/2009

Attention - Bruce Ave at 50th Street (intersection only) will be closed Friday, March 13 and Monday, March 16,  to facilitate lining of the sanitary sewer pipe that is running along Bruce north of 50th Street.  The work is weather dependent, therefore, the dates are subject to change. 03/12/2009

We recently inspected a new construction, custom built home in Edina.  We did a team inspection at this property, where Neil, Duane, and I all inspected the house at the same time.  We really went over this house with a fine tooth comb, but we didn't come up with much that was wrong - it was a very well built home.  Towards the end of the inspection, we asked the buyer if they would mind us opening up the attic access panel, which had been sprayed shut.  The buyer was fine with that, as most buyers are.  What we found was quite surprising. The builder had taken all of the necessary steps to seal all of the bypasses to the attic,  by doing something most builders never do.  Before blowing in loose-fill fiberglass insulation, he had a company spray foam the ‘lid' to really make sure that ... 03/02/2009

The BEST CONCERT YOU'LL EVER ATTEND   COME TOGETHER!!  COMMUNITY CONCERT     Incredible and stirring folk, jazz and show tunes: Irish, Scottish, Judaic, Klezmer, Broadway, Jazz...   Sunita Staneslow folk harp Gary Raynor string bass and Bobby Stanton acoustic guitar   Wednesday, March 4, 2009 at 7pm South View Middle School Theatre 4725 South View Lane, Edina   The musicians will be accepting freewill donations on behalf of homeowners in the 6000 blocks of Wooddale, Kellogg and Fairfax Avenues in Edina who were flooded by sewer water backing up due to a broken water main on Thursday evening, 2/19.*    *The city's insurance has denied all claims and very few of the homeowners have the special sewer back-up insurance endorsement on their policies to pay for the demolition, black water aba... 03/02/2009

02/25/2009

News Release   The public is invited to a second Open House for the Nine Mile Creek Regional Trail on Monday, March 9, 2009 from 6:00 to 8:00 PM at the Edina City Hall.   Background   Nine Mile Creek Regional Trail will travel through Hopkins, Edina and Richfield. As proposed the regional trail will connect to the popular Minnesota River Bluffs LRT Regional Trail in Hopkins to the Minneapolis Grand Rounds trail network in Minneapolis and the Minnesota River Valley in Bloomington. Regional trails are typically 10 feet wide, paved and used by bicyclists, walkers, runners, in-line skaters, dog-walkers and other non-motorized users.   Nine Mile Creek Regional Trail will be developed and operated by Three Rivers Park District. When completed, Nine Mile Creek Regional Trail will be part of Th... 02/25/2009

Braemar Arena in Edina Minnesota features three indoor, regulation-size ice sheets.  It is operated by the City of Edina and was originally built in 1966.  At that time there was only one rink, but has since grown to three due to the growing demands of Edina's hockey community.  The arena offers open skating, group rental, adult and youth hockey and figure skating programs.  The Edina Hornets, which is the high school hockey team, is housed at the arena.  It is also home to the Braemar-City of Lakes Figure Skating Club. For more information, please visit the Braemar Arena website. 02/24/2009

Cultural events in Edina are offered throughout the year. From September through May, cultural performances are held indoors at the Edinborough Park Amphitheate.  From June through August, cultural performances are held outdoors at the Maetzold Amphitheater at Centennial Lakes Park. It is wise to understand cultural values and customs other than one's own. Participating in cultural events is one of the best ways to broaden one's perspectives. Events offered in Edina are excellent educational opportunities for getting to know this region's cultures in a context that permits interaction with local communities. Activities such as plays, films, art exhibitions, dance and musical performances are scheduled. The most recent schedule is always posted on the city's website. If you would like to... 02/24/2009

There are interactions marketers have with prospects where the prospect wants something and the marketer or organization just isn't interested in delivering it. These interactions almost always end badly. I visited a Blockbuster store in London, hoping to rent an appropriately Royal-family focused DVD. After a bit of search, I found it. Would they sell it to me? No, it's rental only. Oh, can I rent it? (I asked with my full US accent). Sure, fill out this form. Five minutes later, they said, "Oh, you're from the US. You can't rent here." What about if I pay as much money as it would cost if the DVD got lost? Nope. What if my hotel vouches for me? No. Here's the thing: From the rational consumer's point of view, this is silly. They should take my money and we'll both be happy. From Bloc... 02/21/2009