Every year, I get my home in St Paul’s Macalester Groveland neighborhood ready for spring and summer with multiple trips to various garden stores in town. I’m always surprised at how expensive it can be especially when I need trees or shrubs. Well…this year, I got notice of a great tree sale that I thought I would share with you.

The “Friends Of The Parks & Trails of St Paul and Ramsey County” are having a tree sale! Their motto is, “Planting, Protecting & Preserving For 25 Years”. You can buy for yourself or donate a tree to a park.

Details:
Order by Saturday April 17th 2010
Pick Up On Saturday May 1st 2010
Pick Up Sites:
St Paul – Highland Park Pavilion (1200 Montreal)
Maplewood – Ramsey County Parks (2015 N Van Dyke)

For More Information Check Out www.friendsoftheparks.org or call 651.698.4543

Contact me live with questions or if you have any real estate questions!
Jen McKinnon
Realtor/Investor
612.384.1073
jen[at]MnRealEstateTeam[dot]com

Member of The Minnesota Real Estate Team
AGENT REFERRAL NETWORK

Are you looking to buy and live in Minneapolis or St Paul?
Do you want information about all of the financial resources available to you from the State, County, City or Non Profits?
There is a new website coming out tomorrow, Thursday April 23 2009 that will give you all of that and more.
Live MSP is a website dedicated to showing potential buyers all of the neighborhoods in Minneapolis and St Paul, available homes and most importantly, all of the financial programs that are available to home buyers and home owners to entice buyers to buy in the city and encourage current city dwellers who may want to remodel.
Check out Live MSP now!

There are a few areas in the Twin Cities where the $1 million dollar price tag is still the “norm”. According to Mpls St Paul Magazine, the cities of Woodland (a strip of shoreline along Lake Minnetonka’s east side), Tonka Bay (a south central bay on Lake Minnetonka), Sunfish Lake (between Hwy 110 and Hwy 494 just west of Robert Trail) and Mendota (just across the Mendota Bridge from St Paul) had median price tags of $1 million in 2008.

These areas are high demand because of their locations and the homes are beautiful.
Currently, there are 43 single family homes listed as active – 26 are under $1 million and 17 are over the $1 million mark. Looking for the best? There is a Tonka Bay location for $5,950,000 and 7,348 square feet of Mediterranean styled luxury. Want the biggest in Woodland? $8,500,000 will buy you 8,036 square feet on Wayzata Bay and 571 feet of lakeshore and private boat docking.

Want more information on these types of homes?
Contact me
Jen McKinnon
Realtor / Investor
MN Real Estate Team – #1 Team in MN

612.384.1073
jen[at]mnrealestateteam[dot]com

So, I was just out this past weekend with clients looking at condos in downtown Minneapolis in areas like the North Loop and along Washington Avenue near the Guthrie Theater.

I have to tell you….now is the time to buy a condo if that’s what you are looking for. There is alot of inventory and for the most part, they are in pretty good condition, selling at great prices and they are desperate to sell which means there is some room to negotiate.

Because there was a building boom over the last few years in Downtown Minneapolis, there are a large number of condos available at reasonable prices.
You will see alot of foreclosures or short sales or REO’s (Real Estate Owned) because, back when the building boom was going on and real estate prices in the Twin Cities were growing like crazy, you had people who at the time were very smart and bought these condos at market rate even before the building was finished. Their plan at the time was to buy the condo in Downtown Minneapolis and as soon as it was finished, they would sell it at an amazing profit because the market was growing so rapidly. Unfortunately, for many who invested in condos in Downtown Minneapolis, the market stopped growing and there was such large inventory of condos that the market values started to decline and those who bought were stuck. Some people moved into the units and some decided to sell are still being sold on the open market – AT BIG DISCOUNTS!

All of the units that I saw this past weekend ranged in price from low $200,000′s – $350,000 and when I looked at the taxable market values on these for 2009 – ALL of them had dropped substantially from 2008 – some close to 40%. What does this mean? It means that you get to buy a condo in Downtown Minneapolis at a great price, pay lower taxes and if you plan to stay in the property for a couple of years you will most likely see it rise back to the levels we saw a few years ago. The market is cyclical and the Twin Cities Real Estate Market is no different.

IT WILL COME BACK. NOW IS THE TIME TO BUY.

Take advantage of low interest rates, first time buyer tax credits and buying at / near the bottom Another benefit to living Downtown Minneapolis is proximity to shopping, nightlife and sporting events (think about that new Minnesota Twins Stadium being built…..)

One thing to watch out for when buying a condo is the health of the condo association. I recently showed a condo near the U of MN and my buyers decided against it only because the association was in such bad shape. The builder had gone into foreclosure and now because all of the units have not sold (which means very few people paying association dues….) the bank has had to pick up the tab on running the building. So, anyone who now purchases one of these Minneapolis condos will have to pay association dues that go directly to pay off the bank.
What this means is that this particular association does not have any money in reserves to pay for anything that may go wrong with the building. So, if your window breaks or washing machine dies or anything else….tough luck….you will have to pay out of pocket. Although this building had great units, you do not want to get into a bad situation like this because your association dues will be going to pay for others bad mistakes instead of maintaining your property. Just something to think about when buying ANY property that is part of an association but especially now with all of the foreclosures.

If you do make an offer on a condo, you will get to review the condo associations documents and have 10 days to read them (have an attorney look at them…..) and still have the chance to back out and retain your earnest money if you choose. Now, I don’t recommend making a bunch of offers unless you really like a property but it is nice to know that you have an out if you don’t like what you read in that particular condo’s association paperwork.

Anyway….there are great deals to be had so weather you want to buy your first home in Downtown Minneapolis or a Second Home in the City, now is a great time to look.

Please contact me to start your search!

Jen McKinnon
Realtor / Investor
MN Real Estate Team

612.384.1073
jen[at]mnrealestateteam[dot]com

If you can answer yes to the following questions, then you may want to look at the following cities for your new home.
1. Do you want an open floor plan to accomodate family / entertaining needs?
2. Do you want a modern kitchen and bath?
3. Do you want a larger yard?
4. Do you want good schools and parks?
5. Do you want a quality built home?

If you answered yes to any of these, The Twin Cities suburbs such as Edina, Plymouth, Chanhassen and Minnetonka may be up your alley! These cities are not only popular among Twin Citians but boast nice homes, great schools, restaurants, shopping, waterfront and more!

If you are wondering when to buy your new home and thinking you will wait until the very bottom of the market, trends in the Twin Cities are showing that it won’t be long. According to Rob Bonahoom, mortgage coach at Cornerstone Mortgage “I think some time mid summer we will see the market get back to what we call a “balanced market”. This means, the time is NOW to buy. Mortgage rates are great and homes are priced right! There are many deals to be had if you are looking to move up into one of these Twin Cities suburbs.

According to MPLS / ST PAUL magazine here is what these upscale suburbs have to offer:

Edina
- Close proximity to Minneapolis
- Immaculately clean thanks to City of Edina street sweeping and plowing
- Great school system with a national reputation
- 50th / France shopping and restaurant district
- A few very high end neighborhoods (White Oak, Country Club, Highland and Rolling Green)
- Country Clubs and Golf Courses

Plymouth
- One of the Twin Cities most popular 2nd ring suburbs
- Close to Minneapolis and Lake Minnetonka
- Developments that have larger residential lots (great for kids and pets and private space)
- Neighborhoods that were designed to slow or discourage traffic
- Extensive trail networks
- Great schools including Wayzata High School
- Wonderful sense of community

Chanhassen
- Further away from the hustle and bustle of Minneapolis
- 5 city parks and 12 lakes
- Great value for your money on homes
- New state of the art High School set to open in Fall 2009

Minnetonka- Considered one of Minnesota’s best school districts which also serves nearby Deephaven and Shorewood with spectacular theater and language programs.
- Water, water, water! Lake Minnetonka is the biggest but there are 4 others to enjoy as well.
- Mature suburb with charming homes that typically have large lots for play and or expansion.

If you want to learn more or get out and take a look at what these or any other suburbs have to offer, please give me a call!

Jen McKinnon
Realtor/Investor
AGENT REFFERAL NETWORK
MN Real Estate Team – #1 team in MN

612.384.1073
jen[at]mnrealestateteam[dot]com
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This is good news if you currently live in Minneapolis or St Paul and another good reason to move to the Twin Cities if you don’t!

According to Men’s Health and Women’s Health Magazines (January / February 2009 issues) here are the rankings:
Best Cities For Men 2009
St Paul, MN ranks #2
Minneapolis, MN ranks #10
Best Cities For Women 2009
Minneapolis ranks #6
These rankings are based on Health data, Fitness, Quality of Life Variables including crime rates, air quality and job growth (30 variables total).

I have live in both cities – they each have their own great qualities. Although they are called the Twin Cities, they are very different from one another. Want to learn more? Give me a call!

Jen McKinnon
Realtor / Investor
AGENT REFERRAL NETWORK
Member of The MN Real Estate Team
612.384.1073
jen[at]mnrealestateteam[dot]com

Ok, so no more complaining about gas prices. This is great news and I wish the media would talk about this a little more. The Twin Cities is below the national average of $2.34 per gallon. I was thrilled to fill up for under $35.00 yesterday in St Paul. Now, if only food prices would come back down and home prices would go up! Slowly but surely it will happen.

Ok, so this isn’t really a post about real estate but I saw $2.99 / gallon gas today in St Paul – Highland Park and it got me thinking that things aren’t all that bad.  Just a few months ago we hovered at $4.00 / gallon but we still hear on the news how bad and horrible gas prices are and how this also affects the price of everything else in the economy.  Well, it does.  Gas prices certainly do affect the rest of the economy but $2.99 is where we were long before the economic crisis started to really put a pinch on people’s wallets and long before the recent Wall Street bail out.

Look at the positive and talk about the positive - $2.99 / gallon gasoline is a good sign and will be better for the people of the Twin Cities.  We will have more money in our pockets at the end of the day and typically, lower gas prices translate back into lower cost of goods like food and other daily essentials because the cost to ship these goods goes down.

Lower costs of goods will equate to more confidence in the market and more confidence in the market will lead to better business overall. 

Stay POSITIVE – this WILL get better even if we have to look at it one little step (like $2.99 gas) at a time!

Jen McKinnon
Realtor/Investor

612.384.1073
jen[at]mnrealestateteam[dot]com
AGENT REFERRAL NETWORK
MN Real Estate Team – #1 Team in MN!

If you have been considering buying a home in Richfield, take a look at this website that discusses a new development coming to the high traffic area of Hwy 62 / Penn Ave.  http://www.ci.richfield.mn.us/CD/Projects/Penn/PennCorridor.pdf

Yes, this will mean lots of construction for awhile but a gorgeous development of shops, condos, green space, parks, cafes, sidewalks and alot of beautiful landscaping appears to be on its way!  This face lift is much needed as many of the stores and streets in that area are looking run down and do not do justice to the work being done on many homes in the neighborhoods just off of Penn between the Hwy 62 and 68th Street.

Many of the rambler style homes in these neighborhoods were built in the 1950′s and we are finding many that have been redone to add updated ammenities like granite countertops and updated kitchens, new paint, landscaping, finished basements and more.  There are even some that have gone from being a rambler to a full two story nearly doubling the space of the home! 

Add this new development into the mix and watch home values rise in this area that is close to major Highways 62, 494, 35W and Hwy 100 and just minutes from 50th / France in Edina and Lake Harriet or Lake Calhoun in Minneapolis / Uptown.

Call me today to start looking at your future home in Richfield, MN!

Jen McKinnon
Realtor/Investor
612.384.1073
jen[at]mnrealestateteam[dot]com

AGENT REFERRAL NETWORK
MN Real Estate Team
#1 Real Estate Team in MN

Here are some tips on nice and affordable neighborhoods to check out and where to meet people if you are relocating or moving to the Twin Cities:

(As read in Mpls/St Paul Magazine – July 2008)

Columbia Heights

• Affordable homes on tree lined streets
• Alot of parks, trails, mini lakes and quick access to Minneapolis and St Paul
• Family friendly neighborhoods with a diverse demographic

St Paul’s Desnoyer Park

• A lesser known gem of a neighborhood in west St Paul that bumps into the Mississippi River and is right across from Minneapolis
• Downtown Minneapolis is 3 miles away and Downtown St Paul is only 5 miles
• Mostly middle to upper class professional residents and a mix of families and empty-nesters with low turnover rate on homes
• Very low crime rate

Windom Park in Northeast Minneapolis

• Tree lined streets in an up and coming area of Minneapolis that still retains it’s feel of the older generation
• Close to bus lines and downtown Minneapolis
• More yard space than typical city lots
• Alot of restaurants and shops popping up

Inver Grove Heights

• Only 20 minutes from downtown St Paul and 30 minutes from downtown Minneapolis
• A variety of residents from young families and older empty nesters
• Tight knit community with plenty of activities and community events

Here are some great websites that are dedicated to helping you meet new people:

www.imnotfromhere.org

www.newcomersclub.com/mn.html

www.booksandbars.com

www.openbookmn.org

www.cscsports.com

www.meetup.com

Have real estate questions?  Want information about other neighborhoods in and around the Twin Cities?  Ready to buy a home in the Twin Cities?

Reach out to:

Jen McKinnon

Realtor/Investor

AGENT REFERRAL NETWORK

Member of MN Real Estate Team – #1 team in MN 2006,2007 & 2008

612.384.1073

jen[at]mnrealestateteam[dot]com