Buyer activity: up. Seller activity: down.   That could soon change if sellers begin to increase their activity levels entering the spring market. They've understandably been a tad shy lately, but the changing landscape is starting to register with well-informed homeowners looking to move. Buyers have shown that they refuse to let one of the most attractive purchase environments pass them by. As activity revs up this spring, not all segments will benefit equally. Which is exactly why the numbers are so central to assessing both the breadth and depth of market recovery.   In the Twin Cities region, for the week ending March 10: • New Listings decreased 0.3% to 1,450 • Pending Sales increased 20.9% to 995 • Inventory decreased 24.3% to 17,899   For the month of February: • Median Sales Pr... 03/21/2012

If last year was any sign of what will happen this year, despite the media reports of doom and gloom, we are personally optimistic.  All the signs are pointing towards a housing turnaround.   This morning, many of our real estate news sources had positive and encouraging things to say about the market.  Low inventories, rising sales rates, historically low interest rates, and high affordability are working towards creating a balanced market. This morning, Corelogic reported that housing may turn the corner this year.  The Wall Street Journal reports that sales in the market are "stirring hope" but it is not quite as optimisic.   And Inman News reports that sales ended on a positive note in 2011, but while it reports sales level increases, it is not reporting optimism in pricing.  On Jan... 01/23/2012

If you have noticed a general decrease in for sale signs lately, you're perceptive!  With only 12 listings on the market in West Savage, 2 sales and ZERO cancelled /expired listings, in the past 45 days one might think the market is quiet.   When considering only the inventory, it’s true.  Inventory is WAY down.   But the buyers are out there….and early.  We did an Open House in The Pointe yesterday (Jan. 15) and had 9 groups of people through – somewhere in the ballpark of 25 people in all.   And it’s only January.   If we had to pinpoint a reason for all this scuttle, we’d attribute it to low interest rates and the weather.   One thing is unchanged though:  Urgency.  While they are out looking, buyers are not rushing.  Let’s do quick breakdown on the ACTIVE West Savage inventory:   9 ... 01/23/2012

Savage Homes For Sale|13342 Elaine Court , Savage, MN 55378   Completely remodeled 5 Bd, 3 Bth almost 2500 sq ft 3 car garage Home! Granite counter tops, hardwood floors, vaulted ceilings, custom fireplace, wet bar, stainless steel appliances, desk, patio, and so much more, Come see today!! View More DETAILS and PHOTOS of Savage Homes For Sale Search all Homes For Sale in Savage 12/09/2011

This spectacular 2BR 3BA townhome offers 1+ level living at its finest with scenic wetland views and lots of natural sunlight on a quiet cul de sac lot.   The main floor offers a kitchen with 42” maple cabinetry, maple floors and granite countertops .  The living room is vaulted and includes a gas fireplace and a wall of windows leading to the sunroom.  The main floor includes a spacious master suite including a private bathroom with whirlpool tub. The second floor offers a bedroom and loft area perfect for guests.  The second floor has its own full bathroom.    The lower level is a 4’ high crawl space for storage that spans the entire length of the home. The association covers sanitation, snow and lawn care, outside maintenance and building exterior.  Owning a wetland lot has never be... 05/27/2011

City of Savage MN City of Savage MN is located in Scott County on the banks of the Minnesota River. The city of Savage was named among the best affordable suburbs in the United States in 2010. The city of Savage is known best for being a river city. Savage is conveniently located on the banks of the Minnesota River and has many attractions and events for the residents to enjoy. The city of Savage is also conveniently located twenty miles outside the downtown Minneapolis metropolitan area. Residents of Savage enjoy the small town feel but are close enough to enjoy the downtown area. The city of Savage is home to a beautiful Farmers Market that is usually open to the public through June to October. The Farmers Market offers the residents to enjoy home grown fruits and vegetables and vendo... 03/23/2011

Inventory in West Savage is still low, sitting at about 55% of normal spring/summer levels.  There is no question that the Bank of America foreclosure moratorium has impacted foreclosure inventory, as many homes expected to hit the market as bank-owned have been postponed indefinitely.    Buyers have been hitting the streets early this year:  A slight bump in interest rates created some urgency.  Metrowide, pending sales are up 3.7% for January 2011 in a year-over-year comparison.  Even though a larger percentage of home sales have been foreclosure and short sale inventory (compared to traditional,) the traditional seller saw a median sales price increase.  Even with all this, home affordability is soaring.  Interest rates are still low and pricing very competitive.  Speaking of afforda... 02/16/2011

Sitting high atop the Savage bluff, this home offers contemporary touches and valley views.  The kitchen offers new heated flooring, white enamel cabinets, double windows, a pantry and stainless appliances.  The dinette walks out to an enormous deck and looks upon the family room with wood-burning fireplace.   A den, half bath, and a huge mud room lie on the main floor.  The second floor offers three bedrooms, including a private master suite with French doors, vaulted ceiling and private bath with garden tub.   An additional newly-renovated second full bath lies upstairs.      The finished walkout basement is SPECTACULAR, with 12' ceilings, wide-plank hickory floors, wet bar, woodstove, media and billiard rooms, bedroom, and a WOW bathroom with heated floors and walk-in dual-head show... 02/07/2011

The NW Savage Alliance group is seeking the help of West Savage residents to help block Ron Clark Construction's proposal to build high-density housing in West Savage behind Rainbow Foods. The development would require that the City of Savage rezone the commercially-zoned area to mixed use, and would allow a 3-story, 166+ unit, capped-income apartment complex to be developed. Concerns of the West Savage Alliance, the group leading the local community in fighting the zoning change, include: Changing the zoning from Commercial to Mixed Use eliminates the option for much-needed commerical space.  Three other areas in Savage are already designated for high-density housing and those options are being ignored.  The City states this development of "workforce housing" is for "Police Officers, F... 01/18/2011

01/18/2011

West Savage inventory is starting to take its long winter nap, as total listings drop from the typical 28-30, down to 22.   Though sales in the market are down metro-wide, sales in West Savage have crept up in the past month, with three newly-pended listings - two in The Pointe and one in The Vistas of Summit Ponds.   The greatest listing activity is also occurring in these two neighborhoods.  The hot topic in West Savage is the strongly-debated Workforce Housing project (to be located behind Rainbow Foods) off Connelly Parkway.  The project, known as Village Commons, would require that the 14-acre site be rezoned from commercial to mixed-use.   The concept plan includes two, three-story apartment buildings and four townhome buildings for a total of 156 housing units, a density of about... 11/17/2010

11/17/2010

Coldwell Banker just announced On Location, on online tool for realtors to make, and post, their own videos of properties they are marketing for sale. We just completed our first video for a wooded blufftop home at 8900 McColl Drive in Savage. Please take a look! value="http://www.youtube.com/v/EBqPJdJnrw0?fs=1&hl=en_US"> 11/17/2010

The most recent Savage City News just discussed property taxes in Savage and how they will be affected by budgetary needs, levy decisions and property values.   September is the deadline for the City to establish preliminary budgets for 2011 as required by state law, and this task has been completed.   These tax levies can change when the budget is finalized in December, but can only do so if the adjustment is downward.  For  now, figures for the City of Savage are not projected to be any higher than they were in 2010, unless a property's classification or value changed.   Due to the changes in values (97% of residential market values in Savage have decreased) the City is striving to keep the property tax levy flat for 2011. It is important to differentiate the differnece between the Ci... 10/06/2010

Home and property sales information for first time home buyers, home sellers, and relocation for the Savage MN area. The information is in for August home and property sales in Savage MN and here is the information. New listings were down 12% to 70 and closed sales were down 45%. This could be with federal tax credit going away in June unless you were under contract with a short sale or bank owned property giving you until the end of September to close. We need the banks and financial institutions to start lending the 3 trillion dollars they have and get it back out into the market to work. Median sales price was down 13% and average sales price down 14%. The average days on market was down to 109 days from 133 the same period a year ago. Single family inventory was unchanged and the t... 09/23/2010

By Chad & Sara Huebener   New inventory in West Savage has risen.  Most new listings that have hit the market are either a) relisted homes that previously canceled or expired, and/or b) ramblers, which now make up 36% of total West Savage inventory.  Buyers for the rambler market are working on selling their two-story home right now, so ramblers are competing ferociously for the two-story seller who does plan to buy a rambler as their next home. As a side note, all listed rambler inventory in Woodhill (as of today) is being sold "short."    We thought it would be interesting to look at the August numbers from 2009 to compare with August 2010.   Hesitancy in entering the market was more apparent in 2009 than this year, with only 15 current listings and 4 new listings in 2009.  (That is u... 08/27/2010

New listings for May was down 4% with single family inventory down 19% and townhouse and condo inventory down 6%. Closed sales were up 32% with average days on market down 10% to 141 days. We are trending towards a more balanced market. Median sales price was down 2% and average sales price was unchanged. Savage, MN     May     May     May      YTD     YTD       YTD Scott County, MN 2009 2010   Change 2009 2010   Change New listings 82 79 -3.7 404 397 -1.7 Closed Sales 34 45 32.4 132 142 7.6 Median Sales Price 223750 220000 -1.7 192788 197750 2.6 Avg. Sales Price 229,848 230475 0.3 209212 220649 5.5 % of original list price received 92 93.8 2.6 89.9 95.4 6.1 Avg. Days of Market  157 141 -10.4 154 134 13.3 Single-family detached inventory 186 151 -18.8       Townhouse-condo inventory 101... 06/25/2010

West Savage inventory is sitting at spring norms, and includes two seldom-available blufftop homes on the north side of McColl Drive.  While May was an unusually slow month in terms of showing activity (attributed to buyers writing purchase agreements to meet the expiration of the tax credit deadline on April 30th) the good news is that June showings are picking up.   We hope to see this continue into the fall.  The seven pending transactions in the past 45 days are testament to the recent activity.     West Savage prices are still soft, and we are often seeing that what is lost on the sale is gained on the purchase.   $450K and above has become the new "upper bracket".    Patience in this market is critical, as most buyers look at everything before making a decision.    One client just... 06/21/2010

By Sara Huebener Earlier, I commented on an article I read in the Savage Pacer regarding Workforce Housing.  The project was stated (in the article I commented on) to be for the purpose of helping working professionals to build equity to transition into homeownership, but it left a lot of unanswered questions.   At the time, I knew little about the project other than what the article expressly stated.  Then, this weekend I read the Community Voices article by Robert Thibodeaux regarding the issue.  More recently, articles have expressed the need for affordable housing.  Housing has never been as affordable as it is NOW.   Our marketplace is flooded with homes that are affordable to buyers and renters.  The neighbors of Ridgewood, Summit Ponds, The Vistas of Summit Ponds and The Pointe h... 05/26/2010

By Sara Huebener My dad and I often get into discussions about the economy and our observations about people's reactions to government programs, among other things.  The tax credit was no exception.  He often heard rumblings by many that the tax credit was a waste of time and money, and that it did not incentivize anyone who would not otherwise be buying a home to make a purchase.   He asked my opinion as a realtor in the industry.   My response is two-fold. I think that the FIRST TIME HOME BUYER tax credit DID incentivize first time buyers to buy.   Absolutely.   Many of these folks have lower price points to work within, and when you are buying a $130,000 house, $8000 is substantial.   When you are buying a $80,000 condo, it is even more so.  It was enough to spur many renters to go o... 05/04/2010