September home sales continue to post huge gains over 2007. For the week ending, there were 42.8 percent more pending sales than the same week last year.
However, here are some items to keep in mind that temper the good news: • September 2007 was a particularly slow month, which inflates the appearance of this year's increase. Current sales levels are on par with September 2006. • Lender-mediated foreclosures and short sales are a growing part of the market. For the most recent week, 39.1 percent of pending sales were lender-mediated, compared to 13.4 percent for the same week last year. • Home sales in September of this year may be temporarily propped up by buyers taking advantage of the final days of the FHA seller-funded downpayment assistance program, which disappears on October 1.
The supply of homes for sale remains lower than last year—7.8 percent down from the same time last year for the most recent reporting week.
Minnetonka offers a wide range of lifestyles for its geographic attributes. Borders from Hwy 169 to Lake Minnetonka (East/West), and Little North of Hwy 394 to Hwy 62 (North/South) define two areas East or West of Hwy 494.
West of Hwy 494, people are looking for outdoor features, privacy and proximity to Lake Minnetonka itself. East Minnetonka features quicker access to Downtown Minneapolis yet offers benefits of Lake Minnetonka proximity.
Communities benefit from several East/West transportation axes such as Hwy 394, Hwy 7, Minnetonka Blvd and Hwy 62 to accommodate commute to Downtown Minneapolis or Lake Minnetonka.
From Secluded upper bracket single family homes to distinctive townhomes and 1st time buyer condominium developments, Minnetonka real estate market has it all.
'Urban" developments will be found in areas surrounding RidgeDale Mall and overall bordering major transportation axes on the way to Hopkins.
The condo conversion wave also recently reached Minnetonka with the unique Cloud 9 loft complex and Chasewood Villas development.
For more information about specific Minneto nka neighborhoods real estate markets, visit www.StephaneCattelin.com or call Stephane @ 612-924-4352.
About Stephane Cattelin:
A real estate professional, Stephane Cattelin provides exceptional service to home buyers and sellers in Minneapolis, South and Southwest, Edina, St. Louis Park, Richfield and Minnetonka. He specializes in residential properties for first time buyers, international transferees and relocation clients.
Stephane earned his master’s degree in France, majoring in hospitality industry management and marketing. He uses his award-winning customer service skills to help his real estate clients achieve a smooth transaction from contract to close. Stephane has experienced many personal moves; therefore he is empathetic to the stresses families encounter during a transition to a new home and works to make the experience a positive one.
Stephane combines traditional and high tech tools to market properties to the greatest number of potential buyers worldwide. With maximum internet exposure and target marketing strategies, Stephane works to sell your home for top dollar, in the shortest amount of time and with the least inconvenience to you.
Driven to provide exemplary customer service, Stephane can help you achieve your real estate goals.
Hear more about Stephane @ www.StephaneCattelin.com
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
