Residential Sales to Date in Alexandria, MN

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Currently, in the local MLS there have been 161 sales to date since the first of the year posted in Douglas County in the Residential section of the MLS.

Last year, from the first of the year to August 25, 2010, there were 184 sales.

2009; from the first of the year to August 25, 2009, there were 169 sales

2008; ” , there were 206 sales

2007; ” , there were 225 sales

I think that some of the older real estate veterans are doing quite well in this market. These are seasoned professionals that know that they have to get up a little earlier to get the job done. And with that, the job is getting done.

2011 may show as being the bottom or near the bottom of the market. Presidential election next year, let’s see if we get some “change”.

Source: Greater Alexandria Area Association of Realtors Multiple Listing Service

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Lakehome Sales to Date in Alexandria, MN

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Currently, in the local MLS there have been 51 closed lakehome sales in Douglas County since the first of the year.

In 2010, by this date from the first of the year, there were 62 sales.

In 2009, by this date from the first of the year, there 38 sales.

In 2008, ” , there were 50 sales.

This is a “real” real estate market. One that ebbs and flows without any government induced tax credits. So far, I have seen an increase in the inventory and a decrease in the overall sales volume. However, it appears that the market has started its stabilization from the depths of the recession and sales are picking up.

Don’t be surprised if you see sales surpass this mark next year. Inventory may come down some as sellers decide to either list with realistic prices or not list their properties.

In other words, the market could be stabilizing and not go down any more. With hope and promise in sight, Buyers would enjoy a good long run of appreciation should they decide to buy.

Source: Greater Alexandria Area Association of Realtors Multiple Listing Service

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New Home Sales Fall for the Third Straight Month in the U.S.

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NewHomeSalesFallinU.S.

New home sales fell 0.7 percent in July to a 298,000-unit pace. Most of the drop was in sales of homes priced between $400,000 and $750,000. Sales increased for homes priced below $150,000 and above $750,000.

One of the statistics you need to look at is “Inventory of New Homes for Sale”. Currently that is at 164,000 units. Historically, that is at 300,000.

Read my July 29, 2008 Blog Post. In there, I reported that the “Inventory of New Homes for Sales” peaked in July 2006 at 572,000 homes.

The floodgates will open, I’m guessing two more years…2013 should be buuusssssyyyy for contractors looking to build new homes…till then, shingling, remodeling, additions, decks and porches.

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My Sales for the Year

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To date, I have had 59 sales negotiated, pended or closed. That’s near 2 per week…one every 4 days. This is reminiscent of the good ole days. Who says that the market is bad?…the market is fantastic! (Prices ain’t so good though. That’ll change)

“Keep your eye on the pendulum”

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Foreclosure. 2011. Alexandria,MN. Part One

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In checking with the Douglas County Sheriff’s Department yesterday, the report to date is 82 foreclosed properties in Douglas County. If you search “foreclosures” in my blog, you can get the history of the foreclosure business going back a few years.

It appears that we will be in the foreclosure business for a few years yet. Although a bad thing, it really is miniscule by comparison. The Alexandriacommunity has been somewhat insulated from the shock tremors of the more major markets.

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HOUSING DEBACLE: Part One

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StatesWarnedAboutImpendingMortgageCrisis

In an effort to lay blame for the current housing crisis, we need to go back in time. As usual, greed lays at the foundation of the problem. We are talking millions and millions of dollars to these companies.

It appears that the states had tried to stop the predatory lenders from entering their states, but were unable to stop them.

This report from MSNBC is great, you need to take 5 minutes to read this.

Source: MSNBC

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Giving Service to Alexandria, MN

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In an effort to provide the best real estate service to the citizens of the Alexandria, MN community, I use the blog to transmit data quickly and efficiently.

In the old days, we had to use newsletters. These were slow, inefficient and little content (they always recommended putting recipes in there). My belief is that my job is to provide accurate market data to the residents that I serve. I can do this task through my blog.

Now my competition may downgrade the use of a blog, but I find it extremely useful and effective as an immediate form of communication. One’s lack of real estate knowledge and ability to communicate the market data may be the reason why one would discredit the worldwide communication tool known as “blogging”.

So keep an eye on my blog, more useful market data coming.

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Mortgage Brokering in Alexandria, MN…borderline Sainthood!

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The mortgage brokers we have remaining from the early days and still doing business here in Alexandria, MN are probably bordering entering “sainthood”. With the new RESPA laws and Dodd/Frank, the mortgage business has turned what used to go through a 2″ pipe into pushing it through a straw.

The folks we have today are getting us through the new rules and for that, we really do appreciate what you have done for the consumers and those of us in real estate.

Here is a list, although not complete, these have been the frontline in doing the bulk of the lending for the houses in the Alexandria area. My thank you and all of those you have done work for…

Cindy Maanum, Bremer Bank
Craig Tiffany, Bank of America
Doug Jossart, Bremer Bank
Jean Rice, Wells Fargo
Joanne Bliese, First State Bank
John Hexum, Gate City Bank
Kim Flowers, Wells Fargo
Kristen Eklund, Cardinal Mortgage
Ross Greenwaldt, Viking Savings Bank
Tracey Miller, Wells Fargo

There are many other lenders that have done real estate and for that I thank you. These folks are doing the secondary market loans…Fannie Mae, Freddie Mac; your FHA, RD, VA stuff. The hard work, with absolute mounds of paperwork…these folks are the ones that I have communicated with on more than one occasion for doing the bulk of my real estate business. Very hard workers, they are! I would make them all saints!

Thank you, thank you, thank you!

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PEAK INVENTORY for Alexandria, MN real estate

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It appears that the peak inventory cycle is passed again. The following information is respective of the local mls inventory at the highest amount of listings at the given moment of checking the local mls system.

At Randy Fischer Real Estate, we check the market inventory daily…every weekday. We are able to draw a conclusion as to how the inventory is rising/falling and then compare that to the closed sales data. It gives me a picture of the market, which I in turn give to you and of course other real estate agents who read my blog for market data.

First, let’s do Residential listings:

RESIDENTIAL

2005.9.25 482 listings
2006.6.30 657
2007.7.13 663
2008.8.28 658
2009.7.21 608(325 listings are in Douglas County)
9.30 617(304 listings are in Douglas County)
2010.7.15 683(338 listings are in Douglas County)
7.30 688(332 listings are in Douglas County)
2011.8.09 639(342 listings are in Douglas County)
11.11 640(341 listings are in Douglas County)

The overall insertions of listings placed in the Alexandria MLS may have declined. But, the listings placed in the Alexandria MLS inside of Douglas County has risen. I would tend to think that listings from places like Mora, St.Cloud, etc, which can be inserted into the Alexandria MLS may have receded from being entered. Those insertions, although listings, tend to dilute the data. That’s why we started to boil the data down to just Douglas County.

That being said, the overall inventory inside of Douglas County’s borders keeps rising.

Now, let me show you the lakehome inventory peak dates.

LAKEHOMES

2005.10.06 233
2006.07.26 375
2007.07.30 417
2008.08.13 402
2009.08.26 413 (251 listings in Douglas County)
2010.07.23 440 (268 listings in Douglas County)
2011.08.11 434 (275 listings in Douglas County)

The lakehome inventory continues to rise as compared to the days of old. This may be the new “norm” as lakelots are developed and people build cabins and homes on them. I don’t foresee the level of inventory in this category or even in residential to go back to the inventory levels of 2005.

As Alexandria, MN continues to grow and become a regional center, there will be more housing opportunities for people, hence, more inventory…

Source: Greater Alexandria Area Association of Realtors Multiple Listing Service

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Case-Shiller.2011Q1

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S&P.Case-Shiller.March2011

I had one of my friends send me this. He reads my blog from time to time and thought that I may find this report interesting.

In reading the S&P/Case-Shiller Home Price Indices Press Release, you will find this most interesting.

Bottom line…prices have slid this year nationally. I had a dude came to an open house this morning to tell me he was upset at his home price, as if I can fix that.

The markets will correct themselves. We need to see some leadership from Washington, we the people are not getting that. In spite of a lack of leadership, the markets will correct themselves.

The Alexandria market is faring much better, especially better than the Vegas-Detroit type markets out there. We’ll be fine here in little old Alexandria…we are actually seeing sales and growth.

Buy in good markets, Alexandria is one of them.

Anyway, here is their most recent report.

Source: Standard & Poors, Case-Shiller

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