Filed under: Developments, Real Estate, Twin Cities News, Twin Cities Real Estate News, Woodbury, Woodbury Real Estate News | Tags: Woodbury Real Estate News, Cheryl Brenna Group, woodbury minnesota realestate, neighborhood, parks and trails, Community of Woodbury, Twin Cities Metro Area, Kenny Chesney, Mall of America
Woodbury, MN is a Great City to Live In!
Woodbury, Minnesota
Nearest city: St. Paul, Minn.
Population: 58,566
Median family income: $114,156
Runners-up: Rochester
Exciting Information from Yahoo!
Woodbury a vibrant growing suburb just 10 miles southeast of St. Paul, is close to major employers, including the state government and 3M, which makes everything from post-it notes to safety equipment. It has 100 miles of multi-use trails and is surrounded by thousands of acres of park land. The city is served by three independent public school districts and is home to the Math & Science Academy charter school.It is only minutes to the beautiful St. Croix River, and as you cross over the bridge you will delight in the historic city of Hudson, WI. Woodbury also offers an easy and relatively timely commute to the Mpls.Airport, which is approximately twenty miles from Woodbury, and for a fun day of shopping or going on rides, go the few extra miles to the fabulous Mall of America . People come from all over the country to experience the pure pleasure the Mall has to offer- Something for everyone! Check out their web site-http://www.bloomingtonmn.org/page/1/mall-of-america.jsp
The information below is provided by the Woodbury’s city web site. http://www.ci.woodbury.mn.us/
September 2002, the Central Park facility opened in the City Center area. The indoor park is the central space linking the R.H. Stafford (Washington County) Library on one end and the Southeast Area YMCA on the other end. Central Park houses Lookout Ridge indoor playground as well as School District 833’s Early Childhood Family Education program.
Woodbury is the home of major employers, such as The Hartford, Assurant (formerly Fortis), Target.com, eFunds, EcoWater Systems, Long Term Care Group, and Dean Foods/Land O’ Lakes, plus many smaller businesses and retail shopping enterprises. Woodbury is also home to Woodwinds Health Campus, which is anchored by a full-service acute care hospital.
Woodbury’s greatest asset, however, is the people who live and work here. Hundreds of residents volunteer in city-sponsored programs and on advisory boards; many more take an active role in community life by donating their time through local churches, schools, civic and youth groups, and other organizations.
The Cheryl Brenna Group has specialized in this great community for twenty four years, and we are here to help guide you through the process of buying or selling a home or both. Even though we are dealing with challenging times in our world, which has affected almost every facet of life both personally and professionally, we are here to help ease the stress through the process of making a lifestyle change. You can count on the Cheryl Brenna Group -http://www.woodburyrealestatemn.com/ We sincerely care and look out for our clients best interests.
Below is a sampling of information about the city.
Federal/State/County Elected Officials
Please take the opportunity to read the interesting information on the city’s web site and also on our web site as well. We offer many wonderful recommendations for referrals for just about any need you may have. Once in our web site, click on Favorites to check out our favorites- restaurants, home staggers, handyman, remodeling companies, painters, great places to shop, you get the picture? We would love to hear from you, so if you have any thoughts or questions, please contact us or leave a comment and we will get back to you in a very timely manner. Click here to meet our group-.http://www.woodburyrealestatemn.com/about.html
Have a wonderful weekend and Savor the moments, life gets so busy and time goes by so quickly…take time to pause and enjoy! http://www.youtube.com/watch?v=p4ySSg4QG8g
Filed under: Cheryl Brenna Group Adages, Woodbury, Woodbury Real Estate News | Tags: Cheryl Brenna Group, Community of Woodbury, minnesota haunted homes, MN statutes
Halloween House Hunting
It’s that time again for “goulies and ghosties and long-leggedy beasties and things that go bump in the night.” In just a few short days Halloween will be here, and in Woodbury and the surrounding community there’s no lack of spooktacular fun–activities for the whole family, and even a haunted house or two! Check out the details at the link below. . .if you dare (make sure to have the volume turned up on your computer)!
http://www.woodburybulletin.com/pages/halloween
Meanwhile, don’t forget to look out for the costumed kiddies on Saturday night, lurking from home to home in search of sugary snacks and tasty treats–they’ll be EVERYWHERE! For interesting facts that most people are not aware of- check out our blog from last years Halloween article about what does not have to be legally disclosed when selling a home.
Spooks
There’s a goblin at my window,
A monster by my door.
The pumpkin at my table
Keeps on smiling more and more.
There’s a ghost who haunts my bedroom,
A witch whose face is green.
They used to be my family,
Till they dressed for Halloween.
From The Cheryl Brenna Group, Wishing Everyone a Safe and
Happy Halloween!
http://www.woodburyrealestatemn.com/about.html
http://www.woodburybulletin.com/pages/halloween
Meanwhile, don’t forget to look out for the costumed kiddies on Saturday night, lurking from home to home in search of sugary snacks and tasty treats–they’ll be EVERYWHERE!
Spooks
There’s a goblin at my window,
A monster by my door.
The pumpkin at my table
Keeps on smiling more and more.
There’s a ghost who haunts my bedroom,
A witch whose face is green.
They used to be my family,
Till they dressed for Halloween.From The Cheryl Brenna Group, Wishing Everyone a Safe and
Happy Halloween!
(Poem by Sandra Liatsos)
Filed under: Market Activity Reports, Market Statistics, Twin Cities Real Estate News, Woodbury Real Estate News | Tags: Cheryl Brenna Group, MAAR, Market Activity, Minnesota, Twin Cities Metro Area
Anatomy of a Recovering Market
There are several ingredients that must be present for a recovering market such as stabilizing home sales, sustainable sales prices, declining inventories, a more balanced buyer-seller market, and increased affordability. Robin Peterson, the President of Coldwell Banker Burnet looks at the current statistics, the positive trends and conditions in our local housing market and finds they are more encouraging than they’ve been for some time.
Home Sales Stabilize
One important aspect of a recovering market is the stabilization of sales. In the Twin Cities metro area, we’ve experienced 14 consecutive weeks of double-digit increases in pending sales compared to the same weeks last year, according to the Minneapolis Area Association of REALTORS® (MAAR). The most recent report from MAAR notes that April sales were even stronger than our improving March sales. There were 5,211 pending sales in April across the market, up 23.8 percent from April 2008. This is the highest number of signed purchase agreements in April since 2005. Closed sales in April also were good: Up 7.3 percent over last April.
Home Inventories Fall
Home inventory is another key component of a recovering market. As of May 11, the total active listings were 26,450, 19.5 percent lower than during the same period last year. But despite the lower number of houses for sale, there is still a great inventory of homes available. Whether you’re a first-time buyer, move-up buyer, or looking for a luxury home, there is plenty of selection.
Movement Back to Sustainable Prices; Declines Attract Buyers
During the boom years, home prices kept increasing to unsustainable levels. But during the last few years, we’ve seen price declines which are now leveling off. There have been larger price declines among lender-mediated properties, but if you look just at traditional properties, the median sales price is $205,000, just 8.5 percent lower than last April. This is great news for people who are looking to buy a home. They have great buying power in a market that is characterized by increasing price stability.
Consumers are noticing these opportunities and now have a very positive attitude about the housing market. A recent Gallup Poll of consumers across the country found that 71 percent of them believe that now is a good time to buy a home.
Housing Affordability Improves
In addition to attractive home prices, we also continue to enjoy great interest rates. Locally, interest rates for 30-year fixed rate mortgages are available in the high 4 percent range, and in the mid four percent range for 15-year fixed rate mortgages. This combination of low interest rates and good home prices is resulting in excellent affordability. MAAR reported that the May housing affordability index was 219, 45.5 percent higher than last year. This is the highest it’s ever been in our market since MAAR first began tracking affordability in 1990.
Month’s Supply of Inventory Tops Out
Our market has been a buyers’ market for quite some time, but during the last several months we’re seeing a return to a more balanced market. In May the month’s supply of inventory was 7.7, 24.5 percent lower than the May 2008 number of 10.2. This is definitely going in the right direction, as a five-month supply of homes for sale is considered balanced between buyers and sellers.
Builders/Developers Cut Production
Across the country, builders have been adjusting their production to meet demand. The Chairman of NAHB Joe Robson noted that builders are doing a “great job of thinning the supply of unsold homes and positioning themselves for a steady housing recovery.”
But it’s important to note that locally, builders are optimistic about the improving sales and filed an increased number of building permits in April. The Builders Association of the Twin Cities reported that there were 419 building permits filed in April, which was 43 percent higher than April 2008.
These favorable conditions, including government programs to encourage home purchases, are attracting more buyers. Many of our sales associates are working with first-time buyers who are excited about home values and the tax credit of up to $8,000 they will receive under the American Recovery and Reinvestment Act of 2009. Now is a great time to buy a home, especially for first time buyers.
During this spring home buying and selling season, buyers are out in force. They realize that our housing conditions are improving and there are opportunities they just can’t pass up.
We invite you to view the latest The Skinny video from the Minnepolis Area Association of Realtors that reinforces this information:
Filed under: MN, Woodbury, Woodbury Real Estate News | Tags: Cheryl Brenna Group, Community of Woodbury, neighborhood, woodbury mn, Woodbury Real Estate News
The City of Woodbury Community Survey Results
We love the community of Woodbury! The Cheryl Brenna Group is always seeking new information and we like to be able to provide the inside track on the newest developments and interesting information that pertains to our great city of Woodbury, MN. The link below is to the website of the City of Woodbury which has provided fabulous information from a 2009 survey conducted by an independent polling firm. Local residents are given the opportunity to rate city services, projects, issues and the quality of life in Woodbury every two years. The City Council uses this valuable feedback as a tool to determine which areas need adjustments and whether it is meeting the expectations of its community members. We hope that you will take the time and enjoy reading the survey results about the city as much as we did. We wish you a warm and happy weekend!
Filed under: Home Values, Selling a Home, Twin Cities Real Estate News, Woodbury Real Estate News | Tags: Cheryl Brenna Group, Preparing Your Home for Sale, Selling Your Home, Twin Cities Metro Area, woodbury minnesota realestate
CAUTION: DON’T SET YOUR LISTING PRICE TOO HIGH
Picture this: You’ve decided to sell your home, and you have an idea of what you think it is worth. You schedule appointments with three local listing agents. Each Realtor comes prepared with a Competitive Market Analysis (CMA), and each recommends a specific listing price.
Two Realtors settle on prices lower than you expected. They back up their recommendations with recent sales comparisons and data of similar homes that didn’t sell while they were listed. But you remain convinced that your house is worth more.
The third agent’s figures are more in line with your anticipated value — maybe higher. Your spirits lift. Confident that you are going to get a higher sale price, you may even start searching for a more expensive home to purchase.
Not so fast! Realtor number three has just engaged in a questionable sales practice called “buying a listing.” He seems willing to accept your input and work with you; seems to care about your financial return, right?
Wrong. He “bought” the listing by tempting you with a higher list price than the other agents recommended. Most likely, however, he is doubtful that your home will actually sell at that price. His intention from the beginning is to eventually talk you into lowering the price, and to continue asking for price reductions in order to attract potential buyers.
Think about it. If you start out with a listing price that’s too high, then drop it later, your house is “old news.” You’ll never recapture that initial flurry of activity, and your house could take longer to sell. And if you do happen to sell at an above-market price to an uninformed buyer, your sale could fall apart once your buyer’s mortgage lender orders an appraisal and determines the home is worth less than the amount agreed upon. Then you’re in the unenviable position of trying to renegotiate the price — if the buyer is willing to listen.
Several years ago, buyers were forced to make full-price offers right away. In today’s market, those same buyers are turning down deals that aren’t sweet enough. Overpricing may have chipped away at your return — or worse, put you back at square one!
The Cheryl Brenna Group will assist you in setting a realistic listing price that will generate interest, momentum, better offers and—ultimately—a mutually satisfying sale.
For more information on setting your home’s listing price, we invite you to watch the following video:
Filed under: Buying a Home, Home Values, Selling a Home, Woodbury Real Estate News | Tags: Cheryl Brenna Group, Market Activity, Purchase a home, Selling Your Home, Twin Cities Metro Area, Woodbury Real Estate News
Why Aren’t People Buying Homes?
You don’t have to be a real estate agent to know this—anyone even remotely clued into the world is hearing it over and over again: it’s a buyer’s market, a buyer’s market, a buyer’s market. So, if it’s such a buyer’s market, why aren’t all the homes for sale being snapped up? What’s going on in the minds of Woodbury home buyers?
The first, obvious, answer is the economy. With national unemployment levels still rising, as well as the fear factor accompanying the recessionary black cloud hanging over all our heads, plenty of people don’t want to spend their money—even on everyday items, not to mention purchasing a new home. This mindset is perfectly understandable, but doesn’t account for the throngs of people who are in a healthy financial position and are interested in buying a house but still choosing not to move forward.
At the Cheryl Brenna Group, some of the buyers we talk to are still sitting on the sidelines and waiting for the bottom of the market to present itself. To that, all we can say is, how will you know when the bottom is reached? Of course, we’ll all know the real estate market has hit the bottom only when we’re not there anymore and prices start to rise!
Another concern we hear is from potential buyers who have a home to sell before they can purchase another house. They’re worried about the loss in equity they’ve experienced in their current home as well as the potential for any new home they purchase to decline in value. None of us has a crystal ball, but we can look to history to tell us that real estate in general is a great place to invest our money long-term. Homes may have lost value now, and may continue to go even lower, but we know—without a doubt—that if you have the time and plan on staying put for a while, your home will increase in value.
As to the loss in equity on a current home, selling for less than was possible a few years ago means you will also buy for less than you would have a while back. Sounds like a winning situation all around!
Happily, there are plenty of indicators to tell us that–although we may not be at the 
lowest point in the housing market yet—NOW is the time to buy. The housing affordability index is at a record high, while mortgage rates remain historically low. The inventory of homes available for sale is quite large in all price ranges and those looking for new construction are finding builders are negotiating like never before. On top of all that, first-time home buyers (defined as not having owned a home in the past three years) are eligible for a new federal tax credit up to $8,000 if a home is purchased by December 1 of this year.
Here’s the bottom line for all potential buyers wondering if it’s time to take the plunge—if you’ve got a down payment, a stable job, and an area you’re comfortable living in for years to come, by all means it’s the time to buy your next home (with our blessings!).
Filed under: Buying a Home, Market Statistics, Woodbury Real Estate News | Tags: Cheryl Brenna Group, currenty home inventory, Purchase a home, Woodbury, woodbury minnesota realestate, Woodbury Real Estate News
Home Buyers Need Realtor Representation
Most people would agree that the search for a new home can either be a very positive experience with little stress or an exhausting and frustrating experience where the stress level is off the charts. Purchasing a home is actually one of the most complex, high-risk, and expensive transactions most people will ever go through. Knowing this it is unthinkable that a home buyer would go to the closing table without a realtor to look out for their best interests. However, studies have shown that half of home buyers are unrepresented. Unfortunately, many buyers do not understand the importance of having an advocate by their side. In the end, how will these buyers ever know if they found the right home at the right price?
Here are 6 good reasons why a home buyer should work with a realtor:
1. Realtors Are Neighborhood Experts.
Knowing the features that are most important to you will help your real estate agent find homes that are the right fit for you. Make a list and be specific! Your realtor will know the market area and will be able to save you time in your home search. Always keep resale in mind during your search.
2. Realtors Have Inventory:
Do you want to find a home quickly? With a Realtor by your side, you will. Over 80% of existing homes and 70% of new home builder products are represented by real estate brokers. Your Realtor will also have access to homes outside the MLS inventory. For example, real state agents can network with each other to find homes that are not currently listed on the MLS.
3. Realtors Understand The Current Market.
Realtors have invaluable experience which cannot be learned over night. They understand the ins-and-outs of a buyer’s market versus a seller’s market. They have the resources necessary to assist you with your mortgage needs or concerns.
4. Realtors Are Skilled Negotiators.
Your Realtor will help you structure an offer to help you get the home of your dreams. They will expertly negotiate on your behalf throughout the entire transaction. Once you find a home that you would like to purchase, a Realtor should provide you with a Comparable Market Analysis (CMA) to guide you in making a proper offering price.
5. Realtors Have Access to Information You Might Not Have.
To help you decide a fair market value in terms of your offer, there are important factors you need to know that will benefit you in your buying decision. Your Realtor will be able to get you the price the seller’s paid for the home, when they bought it, what the assessed value of the home is and the true days on market known as the cumulative days on the market.
6. Realtors Understand the Complexity of the Transaction.
Not that long ago, the purchase agreement to buy a home was only 2 pages long. Now, the actual purchase agreement is 9 pages long not including all of the amendments and addendums. Realtors work with contracts on a daily basis and can correctly interpret information for you so you fully understand which points are harmful and/or beneficial to you.
Once the perfect home has been found, there is still a lot that will happen between signing the purchase agreement and moving into your dream home. The Cheryl Brenna Group will diligently guide you through this thought-provoking and emotional process. Best of all, you will have a professional realtor representing you and working on your behalf and the seller will pay the fee!
It is time for expert advice from a real estate professional that will take the necessary steps that will separate them from the rest as the Cheryl Brenna Group can for all your home buying needs! Buying a home can be a great adventure.
ZIP CODES WITH MOST IMPROVED HOMES SALES
FROM BUSINESSWEEK.COM
No. 17
Woodbury, Minn.
ZIP: 55125
Metro area: Minneapolis-St. Paul-Bloomington
Annual home sale increase: 23%
Fourth-quarter sales: 152
Median home price: $310,500
Median home price change: -5.2%
Nondistressed sales percentage: 100%
Filed under: Buying a Home, Market Statistics, Woodbury Real Estate News | Tags: Cheryl Brenna Group, Market Activity, Purchase a home, Twin Cities Metro Area, woodbury minnesota realestate
Why rent when you can own? 
Exciting news! If you have not owned a principal residence during the past three years, you could qualify for a Federal Tax Credit up to $8000. This new tax credit is not an interest-free loan. It does not have to be re-paid… as long as the home buyer uses the residence as a principal residence for at least three years from the day of closing.
Participation in the tax credit program is easy! You need to purchase a home and close on it between January 1, 2009 and before December 1, 2009. Any home that will be used as a principal residence can qualify for the credit. This includes single family homes, detached townhomes, attached townhouses and condominiums.
To claim the tax credit, you just need to claim it on your federal income tax return. Your tax accountant will be able to help you with this process. No pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and as a first-time home buyer.
In addition, interest rates remain historically low. On top of the fantastic interest rates, the Housing Affordability Index continues its year long improvement reaching 206. An increase in the Affordability Index shows that a family is more able to afford the median priced home. Total active listings are down and home sales continue to grow with pending sales up 12% over last February.
If you’re searching for a place to live for, at least, several years, buying now could be a good choice for you. Owning a home becomes part of your investment portfolio, provides tax benefits, allows you to build equity (yes, it still exists), and, if you buy now, you may get an excellent deal. Buying a home can also create a higher quality of life, giving you pride of homeownership, and something to enjoy improving and developing over the years. You can count on the Cheryl Brenna Group to expertly guide you through the entire buying process!
Filed under: Home Values, Market Statistics, Woodbury Real Estate News | Tags: foreclosure, Market Activity, woodbury minnesota realestate
Weekly Market Activity Report 2.9.09
For the week ending January 31, new listings continue at a lower level than seen last year, clocking in at 1,635—a 15.3 percent drop. Conversely, pending sales continue to raise sand with 673 recorded for this week’s report—25 percent above last year. Basically, this is all welcome news. Having fewer listings on the market, combined with an increase in pending sales, helps to reduce the Months Supply of Inventory to 13.5 percent when compared to last year at this time—down from 8.9 to 7.7 months. This means it will take the current supply of houses for sale 7.7 months to sell (on average).
The Percent of Original List Price Received at Sale continues to fall, with the January figure of 89.5 sitting at 1.6 percent less than 2008. It’s important to consider sales prices of foreclosure homes and how they affect this figure.
Our new Housing Affordability Index jumped to 202 in February. This is another new record and means that the median family income is 202 percent of what is necessary to qualify for the median-priced home. Again, we must consider how the sales prices in the lender-mediated market are affecting this figure, but we can say with some confidence that there are a number of very attractive buying opportunities in the local housing market. If we are able to maintain these trends, the sooner we will see more stability in the market.
A thought to leave you with today…
There are some fairly remarkable opportunities out there for buyers, especially first-time home buyers, that weren’t available even a few years ago. If you can qualify to purchase a home now, the purchase makes sense for your situation, and you’re prepared to live in that home for at least five years, there are a number of reasons why real estate continues to be a great investment tool:
1. Affordability is at it a record high
2. There are plenty of homes to choose from
3. Builders are offering creative discounts and financing
4. Mortgage rates remain historically low
5. You may be eligible for a federal tax credit.
Choose the Cheryl Brenna Group for your real estate needs. You can count on us to lead you through the buying and selling process to fulfill your dreams for a new lifestyle and to help you build wealth through home ownership.
