City's Portion of Property Taxes Below Most Others
The City of Eagan portion of property taxes are once again well below most other Dakota County cities and the 3rd lowest of 18 cities compared in the Twin Cities metropolitan area, according to data released at the December 1 Truth In Taxation Public Hearing.
“We’re proud that the City of Eagan’s property taxes are 22% below the 18-city average,” said Eagan Mayor Mike Maguire. That means that for the average Eagan home worth $276,000, Eagan’s city portion of property tax is $740 compared to the 18-city average of $946 and a high in one Dakota County city of $1,329. That’s a lower city portion than in any of Eagan’s neighboring cities except Mendota Heights.
For more information go to the city's web site or http://www.ci.eagan.mn.us/live/news.asp?menu=2207&id=16216
Tuesday, December 30, 2008
Indoor Community Garage Sale
Eagan Indoor Community Garage Sale coming Saturday, January 31, 2009 from 10 a.m. - 3 p.m. at the Eagan Community Center with $1 admission payable at the door (kids 5 & under free). More than 60 vendors will be offering bargains with something for everyone. Vendor registration begins on Monday, November 24 at 8 a.m. and will continue until booths are full or January 15, 2009. For more information, contact Eagan Parks & Recreation at (651) 675-5500.
Eagan Indoor Community Garage Sale coming Saturday, January 31, 2009 from 10 a.m. - 3 p.m. at the Eagan Community Center with $1 admission payable at the door (kids 5 & under free). More than 60 vendors will be offering bargains with something for everyone. Vendor registration begins on Monday, November 24 at 8 a.m. and will continue until booths are full or January 15, 2009. For more information, contact Eagan Parks & Recreation at (651) 675-5500.
Quality of Life Among the Highest in Eagan
Quality of Life in Eagan Among Highest in Metro
Ratings of Eagan by Eagan residents continue to climb according to 2008 residential survey results compiled by an independent opinion research firm. For instance, 98 percent of Eagan residents polled rate the quality of life as excellent or good. That’s up three points from 2005 numbers and the 54 percent who say the quality of life is excellent place Eagan among the top four communities in the metropolitan area, says Dr. Bill Morris of Decision Resources, Ltd.
There were other stellar numbers too:
93% said Eagan is headed in the right direction, tops in the metro area
97% said existing recreational facilities meet their household needs and 98% said current recreational programs meet their needs, the highest figure in the metro area.
The ratings for police protection were also tops in the metro area with a 93% positive ranking, and as a whole four out of five people surveyed ranked all city services positively, placing Eagan in the top quartile in the metro area. The more citizens had interactions with city staff, the higher the rankings were.
The job approval rating for the City Council (at 88%) was a five point increase from 2005 and the highest anywhere in the metro area.
Taxes and growth were the most serious issues cited by citizens. 40% felt city property taxes were somewhat or very high, while 43% felt taxes were about average or somewhat low. However, if one looks back to surveys since 2002, there has been a 14 point drop of those who would favor a tax increase if it were necessary to maintain city services, so today 44 percent would favor a tax increase if it were necessary to maintain city services and 41 percent would oppose an increase.
Another sign of the economy was the answer to a first-ever question of whether residents are aware of a home in their neighborhood with a foreclosure. 16% were aware of a neighborhood foreclosure.
“We’re proud of the extremely positive ratings Eagan residents have of Eagan city services and our great personnel,” said Eagan Mayor Mike Maguire, “while at the same time it is clear there is anxiety over the economy and taxes. That’s why we’ve made budget cuts this year and Eagan spending remains the lowest per capita of any Minnesota city with more than 50,000 residents.” Other data will help the City Council as it considers economic development goals. For instance:
Residents want a Super Target and more clothing stores.
They want to attract more family sit-down restaurants, any ethnic restaurant and an upscale fine dining restaurant.
86% cite the importance of world class Internet speeds and access and 70% support city involvement in upgraded broadband access and services.
81% say it is at least somewhat important to purchase additional land for preservation.
88% say it is important to keep undeveloped land for business expansion.
“The data will help us in a variety of ways to set priorities, measure progress and target areas for improvement,” said City Administrator Tom Hedges. For instance, in the 2005 survey while 95% rated the quality of life as excellent or good, the City looked hard at the 5% who didn’t. It turned out that new residents and those who lived in apartments rated the city less favorably. Eagan instituted the Showcase Eagan event to target new residents and connect them up with community groups and city services. This time Eagan saw a 3 point increase in favorable ratings. The survey was conducted in September. 400 randomly selected residents in all parts of the city were scheduled for phone interviews, some taking more than an hour to share their feelings on survey topics. The results are accurate to +/- 5 percentage points. View the survey results presentation watch a video of the presentation as given at the City Council Meeting.
http://www.ci.eagan.mn.us/live/news.asp?menu=2153
Ratings of Eagan by Eagan residents continue to climb according to 2008 residential survey results compiled by an independent opinion research firm. For instance, 98 percent of Eagan residents polled rate the quality of life as excellent or good. That’s up three points from 2005 numbers and the 54 percent who say the quality of life is excellent place Eagan among the top four communities in the metropolitan area, says Dr. Bill Morris of Decision Resources, Ltd.
There were other stellar numbers too:
93% said Eagan is headed in the right direction, tops in the metro area
97% said existing recreational facilities meet their household needs and 98% said current recreational programs meet their needs, the highest figure in the metro area.
The ratings for police protection were also tops in the metro area with a 93% positive ranking, and as a whole four out of five people surveyed ranked all city services positively, placing Eagan in the top quartile in the metro area. The more citizens had interactions with city staff, the higher the rankings were.
The job approval rating for the City Council (at 88%) was a five point increase from 2005 and the highest anywhere in the metro area.
Taxes and growth were the most serious issues cited by citizens. 40% felt city property taxes were somewhat or very high, while 43% felt taxes were about average or somewhat low. However, if one looks back to surveys since 2002, there has been a 14 point drop of those who would favor a tax increase if it were necessary to maintain city services, so today 44 percent would favor a tax increase if it were necessary to maintain city services and 41 percent would oppose an increase.
Another sign of the economy was the answer to a first-ever question of whether residents are aware of a home in their neighborhood with a foreclosure. 16% were aware of a neighborhood foreclosure.
“We’re proud of the extremely positive ratings Eagan residents have of Eagan city services and our great personnel,” said Eagan Mayor Mike Maguire, “while at the same time it is clear there is anxiety over the economy and taxes. That’s why we’ve made budget cuts this year and Eagan spending remains the lowest per capita of any Minnesota city with more than 50,000 residents.” Other data will help the City Council as it considers economic development goals. For instance:
Residents want a Super Target and more clothing stores.
They want to attract more family sit-down restaurants, any ethnic restaurant and an upscale fine dining restaurant.
86% cite the importance of world class Internet speeds and access and 70% support city involvement in upgraded broadband access and services.
81% say it is at least somewhat important to purchase additional land for preservation.
88% say it is important to keep undeveloped land for business expansion.
“The data will help us in a variety of ways to set priorities, measure progress and target areas for improvement,” said City Administrator Tom Hedges. For instance, in the 2005 survey while 95% rated the quality of life as excellent or good, the City looked hard at the 5% who didn’t. It turned out that new residents and those who lived in apartments rated the city less favorably. Eagan instituted the Showcase Eagan event to target new residents and connect them up with community groups and city services. This time Eagan saw a 3 point increase in favorable ratings. The survey was conducted in September. 400 randomly selected residents in all parts of the city were scheduled for phone interviews, some taking more than an hour to share their feelings on survey topics. The results are accurate to +/- 5 percentage points. View the survey results presentation watch a video of the presentation as given at the City Council Meeting.
http://www.ci.eagan.mn.us/live/news.asp?menu=2153
7 Wonders of the World
Can you list the 7 (widely accepted) natural wonders of the world?
Grand Canyon
Mount Everest
Victoria Falls
Aurora Borealis
Great Barrier Reef
Harbor of Rio De Janeiro
Paricutin Volcano
Which one is your favorite?
Friday, December 26, 2008
Timing the Market
Why Wait in your home purchase? The Potential Hazards of Timing the Market
Buyers who decide to wait until the housing prices come down more are also gambling that interest rates will hold steady or drop. What is not widely understood is the impact interest rates can have on the real monthly costs of Homeownership. Even a 10% drop in home prices is immediately nullified by a mere 1 percentage point increase in the interest rates on a 30 -year mortgage loan.
The mortgage interest rates are currently at or near historic lows. Working with a professional Realtor, such as myself, I can provide you with information on the market and housing values in your local area. Information is your most powerful tool in making your housing decision. Call me today - I can help.
Buyers who decide to wait until the housing prices come down more are also gambling that interest rates will hold steady or drop. What is not widely understood is the impact interest rates can have on the real monthly costs of Homeownership. Even a 10% drop in home prices is immediately nullified by a mere 1 percentage point increase in the interest rates on a 30 -year mortgage loan.
The mortgage interest rates are currently at or near historic lows. Working with a professional Realtor, such as myself, I can provide you with information on the market and housing values in your local area. Information is your most powerful tool in making your housing decision. Call me today - I can help.
Tuesday, December 16, 2008
Drop in Interest Rates leads to Jump in Affordability
Market Update-
Mortgage rates declined well into the 5 % range in the last month- best rates of 2008 and the most attractive since 2003. November median home sales price is around $175,000- down 19.2% from last year- this makes housing more affordable for the consumer. MAAR started tracking this affordability through the Housing Affordability Index (HAI).
Housing Affordability Index (HAI) has jumped 19 points in the last month and currently sits at 180. This is up 27.7% from December 2007, and the highest since HAI started tracking this data in 1990.
Low interest rates, abundant housing, affordability combined together make this a perfect buyer's market. Now is a great time to buy, call me about more information on this great opportunity.
Mortgage rates declined well into the 5 % range in the last month- best rates of 2008 and the most attractive since 2003. November median home sales price is around $175,000- down 19.2% from last year- this makes housing more affordable for the consumer. MAAR started tracking this affordability through the Housing Affordability Index (HAI).
Housing Affordability Index (HAI) has jumped 19 points in the last month and currently sits at 180. This is up 27.7% from December 2007, and the highest since HAI started tracking this data in 1990.
Low interest rates, abundant housing, affordability combined together make this a perfect buyer's market. Now is a great time to buy, call me about more information on this great opportunity.
Sunday, December 7, 2008
FHA CHANGES- TIME RUNNING OUT
Time is running out to take advantage of the 3% minimum down payment requirement and the temporary loan limit of $365,000 on FHA loans. The FHA loan must be closed by 12/31/08. The minimum down payment requirement must have an appraisal ordered by 12/31/08 but can still close in 2009.
On January 1st, 2009 the new required down payment will be increased to 3.50% and the new loan limit on a single family home will be $318,550.
INTEREST RATES
Mortgage Rate Update!
The interest rates are at historic lows and housing prices have moderated thus setting up a great scenerio for people who need to refinance or are looking to buy a home. Over the past 2 weeks, borrowers are now able to purchase almost 10% more in price because of the drop in interest rates.
First Time Home Buyer $7500 Tax Credit
Time is running out! There is only 24 days left to take advantage of the FTHB tax credit for 2008. This temporary tax credit incentive is available for purchases of a principal residence on or after April 9th , 2008 and available through July 1st, 2009. The FTHB is defined a an individual who has not had ownership in a principal residence in the previous 3 years.
Call me for more information.
Call me for more information.
Monday, December 1, 2008
Eagan Rated #1 Place to Raise Children in Minnesota!
Eagan was rated as one of the best places to raise children in 2009 by Business Week magazine. This rating was based on a number of factors including school performance, number of schools, crime rates, job growth, household expendures, air quality, job 
growth, family income, parks, theaters, museums, diversity and other amenities.
growth, family income, parks, theaters, museums, diversity and other amenities. School performance and safety were weighted most heavily in the poll. The magazine went on to describe Eagan's community as "an upscale community with good schools, ponds, rolling hills, woods, and open space."
http://ci.eagan.mn.us/
For more information on Eagan or surrounding communities please don't hesitate in contacting me. I will be happy to answer any questions you may have.
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