Lake Vermilion Real Estate

Most of the available properties noted on this website are from a defined segment of the total Northeastern Minnesota real estate market. That includes any properties noted as bank-owned or “REO” listings.

So… the complete list of all area bank-owned properties (from our MLS system) is not normally revealed here.

Until now.

I have assembled the complete list of bank-owned properties currently on our local Multiple Listing Service. This is a group of 35 listings and you can view it here.

See something of interest? Drop me a note!

(FYI, REO stands for “real estate owned”.)

Sign up for “A.Word.A.Day” at Wordsmith.org and you get exactly that. You will receive, via email, a new word everyday.

Today’s word was “oligopoly”. You pronounce that “ol-i-GOP-uh-lee”.

Oligopoly is a noun that describes a market condition where there are few sellers and many buyers. The current real estate market is NOT an oligopoly.

Fortunately, the folks at “A.Word.A.Day” provide the word with the opposite meaning. That word would be “oligopsony”. You pronounce that “ol-i-GOP-so-nee”. Oligopsony is a noun that describes a market condition where there are a few buyers and many sellers.

Here’s a list that reveals a descriptive word for other market conditions.

The Minneapolis Star Tribune has published an editorial on the proposed Lake Vermilion State Park that begins with this…

Read the editorial here.

As a follow-up to last week’s announcement from Minnesota Governor Tim Pawlenty regarding the agreement to purchase the land associated with the proposed Lake Vermilion State Park… here are the links from the Minnesota Department of Natural Resources that will answer common questions about the future Park.

1) A map of the Park (with photos and video) 2) A slideshow from the land and lakeshore within the future Park 3) Miscellaneous details about the future Park and 4) A list of frequently asked questions.

Stay tuned for future developments.

U. S. Steel and the State of Minnesota have come to an agreement concerning the purchase of the land for the proposed Lake Vermilion State Park.

Read the news here.

Here is one final graphic to help illustrate how the 2009 sales year compared to the previous 4 years. The graph illustrates the average selling prices for 6 separate property types in the Lake Vermilion area real estate market.

The key word related to this graph is “average”. Please bear in mind that the individual selling prices covered a very wide range.

The graphic also notes the total number of completed sales for each year for each property type.

Please let me know If you have in interest in the specific numbers related to this information.

Winter and snow… it’s a world-wide phenomenon.

Northern Community Radio Station, KAXE-FM, has long enjoyed an association with John Latimer. John is a dedicated phenologist. Please enjoy his January edition of the Northern Minnesota Phenology Report here.

I just updated the “Current Listing Map” (see right side bar) and the “Must Sell Now” list (also see right side bar).

If I would have thought ahead I would have had those two projects on my 2010 (twenty ten) New Years Resolution List. And now… I could have checked those two items from the List for additional gratification.

Too late now. Opportunity lost.

Please click on both of those links and review the refreshed information. 2010 (twenty ten) is going to bring renewed and attractive opportunities for Lake Vermilion area real estate buyers. It would be advisable for all serious buyers to start their own New Years List of Desirable Properties for consideration and action.

A well maintained Property List could lead to the additional gratification of a completed purchase…

and an opportunity not lost!