Market Update: Blaine, MN March 2012 (Prices are stable for 1 1/2 & 2 Story Design Homes)

By
Real Estate Appraiser with Michael S. Bolton,Inc.

The City of Blaine, MN | Market Update

For every appraisal it's important to determine as to whether values are increasing, decreasing, or are remaining stable (click here for detailed article on how this is done). The MLS indicates that prices for the city of Blaine, MN Increased for the month of March, as well as year to date. This is for all types of properties that have sold within the city of Blaine, MN. This is not what is happening for older 1 1/2 & 2 story design homes over the past 12 months (see below) in the selected neighborhood area.

The data for this market update is based on the above search criteria over the past 12 months.

The homes that were selected for this trend line were all single family 1 1/2 & 2 story design homes within the city of Blaine, MN for the past 12 months; for the exact search criteria see the map above. This market analysis indicates that prices are considered to be stable or slightly decreasing as indicated by the chart above. Distressed sales (Bank REO's & Short Sales) are considered a factor in the market, and they make-up approximately 50% of the sales. The decline in inventory levels (51%) will have a positive impact on values.

Posted by

 

If you are a real estate professional, mortgage consultant or real estate attorney please subscribe to my blog to get news and updates on residental appraisals, estate planning and tax changes:

subscribe to real estate appraisal blog

       

If you have any questions, or Minnesota real estate appraisal needs (divorce, bankruptcy, tax appeal, or estate planning) please contact Michael at 612.599-2581, or use the form on the contact page.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the airplane to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
338,526
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley R since 1976;408-565-8177

Welcome back.  I guess you have a little time for another excellent market report.  Thanks and take care and have a great weekend.

June 08, 2012 12:24 PM #1
Rainmaker
1,058,227
Lisa Von Domek
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Welcome back Michael, was wondering where you were - hope all is well!

 

June 08, 2012 12:40 PM #2
Rainmaker
719,145
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

He's back. Wow inventory is down from 7 months to 3.5 months and if you take the junk that will never sell off then its more like 1.5 months.

June 08, 2012 01:27 PM #3
Rainer
145,762
Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Hey Lloyd-Yes, it's time to get back into the swing of things. Hopefully it won't quite as crazy in the coming months. The last three months have been super busy!!!!

Thanks Lisa! All is well, just been busy.

Chuck~I always forget about the "Junk" factor!!!

 

Have an AWESOME weekend!!!

 

 

June 08, 2012 01:55 PM #4
Rainmaker
1,951,765
Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Very good evaluation lesson for real estate professionals and their clients.

Have an outstanding weekend with your camera in hand.

June 09, 2012 03:35 AM #5
Rainmaker
1,058,227
Lisa Von Domek
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Michael,

So glad to hear it - busy is a great thing.  Have a wonderful weekend!

June 09, 2012 11:43 AM #6
Ambassador
1,091,473
Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTORĀ®

So good to see you back!  Thanks for another great marker report!

June 10, 2012 05:16 AM #7
Rainmaker
148,596
Susanna Haynie
Falcon Property Solutions, LLC - Colorado Springs, CO
Colorado Springs Realtor - CNE, MCNE, ePro - Cell:

Michael, it seems that a lot of markets are similar to yours - I know ours is. But I am surprised that I really haven't read anything significant in the news about this trend. If buyers listen to that (and i have them tell me every day that they do) then in their mind they think they still have all the choices and can take their time before making an offer.

June 14, 2012 10:04 AM #8
Rainmaker
1,951,765
Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I hope you are having an outstanding week.  Keep cool with a camera in hand.

June 21, 2012 09:44 AM #9
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the airplane to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
145,762

Michael S. Bolton

MN Appraiser
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the leaf to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: