Lake Vermilion Real Estate

Here’s some Minnesota related real estate news to start your week.

1)  Minnesota Statewide Market Report for December 2010 (pdf)

2)  2010 Minnesota Home Buyer/Seller Survey (pdf)

3)  “Effectiveness of Home Ownership in Building Household Wealth” (pdf)

4)  Also, here’s a slick Mortgage Calculator with Amortization Schedule

Here’s a repeat of previously posted information.

The right side of this web page has a periodically updated list of bank-owned properties.  That list is primarily made up of waterfront properties.

There are other bank-owned listings currently offered for sale in the Northeastern Minnesota market.  If fact I found 93 additional properties.  Those additional listings offer asking prices from $8,900 to $575,000.  Here are those opportunities grouped by location:

Angora (1) / Aurora (4) / Babbitt (2) / Biwabik (2) / Bovey (3) / Britt (1) / Buhl (3) / Chisholm (14) / Cook (3) / Deer River (1) / Effie (1) / Ely (8) / Embarrass (1) / Eveleth (4) / Grand Rapids (4) / Hibbing (11) / Hoyt Lakes (3) / International Falls (2) / Iron (1) / Jacobson (1) / Makinen (2) / Meadowlands (1) / Mountain Iron (2) / Nashwauk (2) / Orr (2) / Pengilly (3) / Silver Bay (1) / Soudan (1) / Talmoon (1) / Tower (3) / Virginia (4)

(As a reminder, this information is date sensitive.)

Wordle is a website that converts text into a graphic that illustrates the collective use of individual words.  Minnesota Public Radio produced a Wordle to assist with analysis of President Obama’s 2011 State Of The Union Speech.

You can Wordle just about any group of words.  Here’s a Wordle for this Lake Vermilion Real Estate webpage.

As we progress into the 2011 calendar year it will be very interesting to see how the Lake Vermilion real estate market performs. If you’re the type that believes in the power of a trend then 2011 should see additional recovery.  2010 saw a 139% increase in Lake Vermilion sales over 2009. If that improvement repeats in the coming year there would be 70 completed sales transactions.  That’s an activity level close to the fondly remembered 2005 market year!

I will try to keep you up to date as we progress into the year.

January is always a good time to do a little tidying up. Things accumulate.  I can’t explain why.   But it’s been a while since I scrubbed the ol’ desktop and this stuff has gotta go. Maybe you will find some value in the following. Or not.

It’s mid-winter and you’re cooped up with the spouse.  Drive him or her to the brink with this sinewave synthesizer.  If you’re a semi-serious bicyclist and an iPod/iPhone user check out this wireless cycling computer.  With the thought that someday I would own a few of my own… here’s an article about backyard chickens and their connection to human emotions and interactions.  Do you enjoy social media?  Tweet to your hearts content with this list of 168 geeky media people you could follow on Twitter.  This website allows you to track and search all registered U.S. patents.  Minnesota Twins fans will recall this event as one of the worst foul ball calls ever made by a professional umpire.  And finally, this item could qualify as a novelty holiday stocking stuffer with a hint of practicality.

If you’re buying or selling in 2011, please drop me a note!

The start of a new calendar year kind of restarts the real estate market.  Many of the Sellers who had listings with their real estate agency of choice will see those agreements expire.

Our local Multiple Listing Service had about 200 properties expire over the New Year’s Holiday.

It is typical to see many of those properties return to the market over the coming weeks and months.

It is also true that some Sellers will continue efforts to advertise and sell but may chose to opt out of the MLS System.  That will remove those properties from some websites, including this one.

So… if a property you have previously seen can no longer be found, let me know.  It may be on the market but advertised in places other than where you would normally search.

Happy New Year!