Eagan Facts

1. Minnesota's 8th Largest City
2. Great Location- a second ring suburb with easy access to Mpls/St. Paul and airport
3. Family Friendly Attractions- Water park, Trapp and Holz Farms, walking paths, Community Center, parks to name a few.
4. Wide Open Spaces- Ponds, Lakes, and 4,550 acres of open spaces.
5. Sports and Leisure activities- more than 50 city parks, 130 miles of walking trails, 30 soccer fields, 79 softball fields, BMX bike and skateboard parks, and 350 lakes and ponds.
6. Wide range of home prices- condos, town homes and high end homes. The average sale price in Eagan in 2008 was $241,531 with 681 closed homes.
7. Lots still available- Eagan is 95 % developed with only a few lots available.
8. Many shopping and dining choices
9. A great place to work and live- City has 52,000 jobs. Major employers include Thomson Reuters and Blue Cross Blue Shield.
10. Easy commute to Downtown Mpls. and St. Paul

For additional information on the area contact me or go to

www.ci.eagan.mn.us

First Time Homebuyers take Advantage of Incentive

Results are in and looks like First-Time Homebuyers are responding well to the $8,000 federal stimulus first-time buyer tax credit. Many First Time Homebuyers are taking advantage of the Foreclosures and Low prices and we are seeing an increase in activity with multiple offers on many properties. This is a great opportunity for many First Time Homebuyers were it is the first time they have been able to enter the housing market. Mortgage applications rose in synch with the 5 percent increase in buyer activity. The numbers are telling us that half the homes sold in February are the result of first-time homebuyers.

If you would like more information on the $8,000 First Time Homebuyer Credit please go to my website. www.HomesByLoriHuckle.com

Don't miss out on the Eagan Tree Sale

2009 Biennial Tree Sale

Saturday, May 2, 2009 City of Eagan Maintenance Facility (Pre-ordering only) The City of Eagan is again holding its tree sale and offering Eagan residents a chance to purchase a variety of bare root trees for planting on their property. Seven varieties of trees have been selected for this years sale; snowdrift crabapple ($25), whitespire birch ($25), bi-color oak ($30), Accolade elm ($30), Northwood maple ($30), skyline honeylocust ($30), and Honeycrisp apple ($25).

Residents interested in purchasing up to two trees are asked to complete the application form (available for use beginning Tuesday, March 10, 2009), or submit a paper copy, available at the City of Eagan Maintenance Facility (3501 Coachman Point) or at the Eagan City Hall (3830 Pilot Knob Rd.). Paper application forms must be returned to the address below no later than 4:30 p.m. on Friday, April 3, 2009.

Trees will be awarded on a first-come-first-serve basis and successful registrants will be notified by email of the exact location and time to pick up their tree(s). If you are registering for trees on the Web based application and all seven species of trees are not present on the species drop down menu, that means that species of tree is sold out. You can then make another species selection.

For more information please see http://www.cityofeagan.com/live/page.asp?menu=16629

This is a great opportunity to purchase trees for your home landscape.

Home Affordability on the Rise!!!

Owning a home hasn't been this good in a long time,... what? All we hear about is all the negative news in the media on the housing market and how the values have dropped in home prices. This may be true, and in some areas the values have been hit harder than others. The good news is that the affordability to own a home hasn't been this good in years. Interest rates are low, and home prices have adjusted that homes once again are more affordable. With the new Stimulus package available to First Time Homebuyers the added $8,000 in the pocket is a nice little boost. The thought is if we can get the First Time Homes moving it will help the rest of the housing market recover.

Please read the following article.

If you have any questions on the New Tax Credit please give me a call.

http://talk.realtor.com/2009/03/04/home-affordability-on-the-rise/

New Stimulus Package Plan- Home Improvements

There are many other parts to the stimulus package that have not received as much attention as thee First Time Homebuyers Tax Credit, but can still benefit a large number of homeowners.

There are increases and extensions for tax credits to stimulate "qualified energy efficient improvements" in exiting homes. The expanded credits cover improvements made to air-conditioning systems, or natural gas and propane furnances and water heaters. These improvements can save you money $$$$

Home Sales are Brisk...with a caveat

Minneapolis, Minnesota (February 11, 2009) – Low mortgage rates and an ample supply of affordable properties kept January home sales strong despite a month of harsh weather, according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc.
Pending sales during the month posted a figure of 2,827, an increase of 10.3 percent from last January. This is the eighth consecutive month of year-over-year increase. Closed sales saw an increase of 2.1 percent in January, posting 2,010 units.A growing share of this jump in buyer demand can be found in lender-mediated foreclosures and short sales.
The overall January median sales price of $155,000 is 24.4 percent and a $50,000 lower than last January's mark of $205,000. However, a staggering 59.9 percent of closed sales in January were from the lender-mediated segment, which had a dramatic downward effect on the overall median sales price.
Traditional properties, which exclude foreclosures and short sales, had a January median sales price of $215,000, down 4.3 percent from last year, while lender-mediated homes had a median sales price of $122,000, down 21.4 percent for the same year-over-year comparison.
"Banks have found the magic price formula to overcome condition issues and sell these properties quickly," said Steve Havig, MAAR President. "The good news is that price reductions on traditional properties haven't been as extreme."
Housing affordability also tells a tale of two markets. Lender-mediated properties currently have a Housing Affordability Index (HAI) of an astounding 245, while traditional properties have an HAI of 154, a mark last seen in 2004. The overall HAI jumped another 10 points in the last month, and currently sits at 202. This means that the current median family income is 202 percent of what's necessary to qualify for the median-priced home. This is a new record and up 35.6 percent from last year.
Housing supply continues to draw down. There are almost 3,000 fewer houses for sale than there were one year ago, and new listings in January were 15.7 percent lower than in 2008.
"With listings coming down and sales going up, we're glad to see some inventory getting absorbed and a trend pointing towards a more balanced market," said MAAR President-Elect, Brad Fisher.

Established in 1887, the Minneapolis Area Association of REALTORS® (MAAR) is the leading regional advocate and provider of information services, research and education on the real estate industry for brokers, real estate professionals and the public. With more than 8,500 members, MAAR is one of the 25 largest local REALTOR® associations in the nation and serves the Twin Cities 13-county metro area and western Wisconsin.
###

New HealthEast Clinic in Rosemount?

The Health East Clinic would anchor the new development in the rivitalization project of downtown Rosemount. The Waterford Commons, which is scheduled to be completed this summer, is the first big project for Rosemount. It contains 13,000 square feet of retail space and 108 apartments. The clinic would be located kitty corner to the development. See article below.

http://www.bizjournals.com/twincities/stories/2009/02/16/daily59.html?ana=from_rss