StoneManor of Alexandria, MN: PROGRESS REPORT – 01.30.2013

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Walls are up for the second floor. Hung the “leasing soon” sign.

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StoneManor of Alexandria, MN: PROGRESS REPORT – 2013.01.28

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Making progress…most of the 2nd floors wall should be up today. They will also be putting on some floor trusses for the 3rd floor.

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New Residential Construction Numbers for United States

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New Construction4
New Housing Units built in U.S since 1991

New Housing Units Built Since 1959 in U.S.

When you look at new residential construction numbers, you will see that 2011 was the absolute worst since 1959 for permits in this country. That’s the reason that bare lot sales are so poor and probably will be for awhile till we continue digging out of this hole. In 2011, we built less than 25% of what we did in 2005 for new housing units in this country.

Also, the financial numbers are tough to live with. The gross sales revenue was less in 2009-2010-2011 then it has been since 1992. We are currently running at 1/3 of the revenue in new home construction than we had in 2004-2005-2006.

Also, apartment construction is surging forward. I anticipate that this market will probably be stronger in the next decade. There is a new paradigm emerging in housing. Once considered a great investment since WWII, homes are changing in the way people view them from a financial standpoint. Only time will tell, but in viewing the new home construction numbers going back to 1959, folks aren’t so eager to jump back into that 97% LTV mortgage for a new home.

Source: U.S. Department of Commerce

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City WaterMain Extensions. Phase IV. Alexandria, MN

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Phase IV Proposed WaterMain Extension

This is the final phase of Orderly Annexation. In that annexation process, it calls for city water extensions. The above map is the Phase IV water extension map showing parts one and two.

In checking with Marty Schultz at city hall, he gave me the following email…”I am back in the office after a week away and am getting to my email. 4A is scheduled for construction this year, with 4B in 2014. There is a small part of 4B near Lake Geneva that could be pushed to 2015. The proposed assessment as presented at the improvement hearing last April will be $6,500 for single-family residential properties. It will be payable in full by November 1 of the year of construction or can be spread over property taxes for ten years at an interest rate to be set by the City Council at a final assessment hearing in September. Property owners will also be responsible for connecting water service to the home from the service stub left by the City at the property line. Connection to the municipal water system is not mandatory. Property owners can choose when/if they wish to connect. Let me know if you have any further questions.”

That pretty much explains what I know at this time about the city water extension for Phase 4.

Source: Alexandria, MN City

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Number 86

I and my team completed 86 closed real estate transactions for 2012.
Another record year for Randy Fischer Real Estate.

Happy Salesman2

Last year the completion rate was 74 closed transactions!

That brings my career volume to $317,382,955 in unit sales and career closings to 1,963 closed transactions here in Alexandria, MN.

My best year ever was 2004 when I personally closed 117 real estate transactions. It’s been a struggle to get back there to that volume. It’s been a goal since 2004, but the market took such a nose dive and then I started this new company…so needless to say some conditions outside my control have prevented that goal from returning. I now believe that I am poised to make that goal a reality again.

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The consumer’s confidence has definitely improved since I started Randy Fischer Real Estate. This market was in the tank…and so was people’s confidence. I hope that I never have to live through that again…

You can plainly see that we have begun a long arduous road back to where we once were…at what time Consumer Confidence was at 140 points…

Source: Consumer Confidence Board

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GRAND ARBOR. The Lakes Senior Apartments

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Foreclosures.Alexandria, MN: ANNUAL REPORT 2012

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Just talked with a representative for the Douglas County Sherrif’s Department. Last year in 2012, there were 79 foreclosures. At mid-year, I was told there were approximately 70 foreclosures. I am not sure why the near same number at year-end, but that is what I was given for total number in 2012. So we’ll go with that…

2012: 79
2011: 110
2010: 97
2009: 135
2008: 134
2007: 89
2006: 41
2005: 35
2004: 26

If in fact that is correct, we may have turned the corner on this market too…

Source: Douglas County Sheriff Department

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Bareland & Residential Lot Sales for Alexandria, MN: ANNUAL REPORT 2012

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In reviewing the data in the MLS for the Alexandria, MN area; it appears that 2012 is a bit of a bottom again. The market is trying to shine through, but sputtering as it goes.

It seems like 2009 is a distant memory, yet looking at some of the numbers from that year, it appears that may have been our worst on record for land sales. (Note: The Alexandria, MN mls went computerized around the 1997 mark. This writer is not sure of the accuracy of the computerized data from 1997 and prior because of the inputting)

That being said, it takes time…

Here’s what I was able to disseminate from the mls records for Land sales, taking out the commercial closed sales. These are sales recorded from 1.1 to 12.31 in 2012 in Douglas County. Again, all land sales in the Alexandria, MN mls excluding the commercial and industrial.

2012: 41 Closed Sales in Douglas County, MN
2011: 47″
2010: 65″
2009: 38″
2008: 60″
2007: 84″
2006: 116″
2005: 123″
2004: 124″
2003: 128″
2002: 140″
2001: 137″
2000: 123″
1999: 77″
1998: 56″

Residential type land sales are at an all-time low. Not sure when this will turn around.

Source: Greater Alexandria, MN Area Association of Realtors Multiple Listing Service

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Lakelot Sales for Alexandria, MN: ANNUAL REPORT 2012

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It appears that lakelot sale for the Alexandria, MN area ais still wallowing at the bottom of a market. The market here in Alexandria, MN is showing some signs of improvement in terms of sales, but the price point is far below what it once was. Here’s what I found:


2012: 36 Closed
2011: 20″
2010: 23″
2009: 24″
2008: 28″
2007: 64″
2006: 64″
2005: 56″
2004: 76″
2003: 59″
2002: 66″
2001: 67″
2000: 54″
1999: 70″
1998: 59″
1997: 27″

Of the 36 sales, 23 of them were under $100,000. The highest priced sale was $375,000 on Lake Darling…Casa Marina.

2012: 6 Closed Lakelot Sales
2011: 5″
2010: 4″
2009: 11″
2008: 9″
2007: 14″
2006: 11″
2005: 8″
2004: 20″
2003: 12″
2002: 17″
2001: 11″
2000: 9″
1999: 13″
1998: 12″
1997: 3″

When I take into consideration the number of new lakelot listings entered on January 1.2012 till December 31, 2012 and then compare it with the number of sales, I find this percentage…
2012: 172 Lklots Listed/36 Closed Sales/20.93% Listing-Sales
2011: 206″/20″/9.71%”
2010: 219″/23″/10.5%
2009: 230″/24″/10.43%
2008: 305″/28″/9.09%
2007: 374″/64″/17.11%
2006: 399″/64″/16.04%
2005: 208″/56″/26.92%
2004: 150″/76″/50.67%
2003: 146″/59″/40.41%
2002: 126″/66″/52.38%
2001: 98″/67″/68.37%
2000: 89″/54″/60.67%
1999: 99″/70″/70.71%
1998: 117″/59″/50.43%
1997: 85″/27″/31.76%
1996: 76″/37″/48.68%
1995: 64″/28″/43.75%

Not as many new listings last year, a lot of the inventory keeps spilling over. In keeping with the purity of the data, there is some correlation here with the listing-sales ratio. As long as the pricing appears to be under $100k, there are sales going on…

Source: Greater Alexandria, MN Area Association of Realtors(GAAAR) Multiple Listing Service

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