Hudson, WI - Blog

A Look at Home Prices in Hudson - Pre-Owned Homes vs. New Construction

john.durham@results.net — Fri, 17 May 2013 00:00:00 GMT

Many home buyers love the idea of a shiny new home where they have chosen the floor plan and all the finishes. With a shortage of homes on the market in the greater Twin Cities area, buyers are finding few choices in existing homes and are turning to new construction as an option to find their dream home. Turns out, there is a very large difference in price (see graph).

The average sales price for a new home in Hudson is $275,070. That’s up 17.3% in the past year! Home builders are still recovering from the significant drops in prices in 2011. The market for existing homes is quite different, with an average price increase of 5% in the past year to $228,605.

Now, the first thought one might have is that they are building bigger homes nowadays. But, if you look at the second graph, you’ll see the difference in average price per square foot. $125 per square foot for new construction versus $99 for an existing home.

There is tremendous value in buying a pre-owned home. For many, they prefer a home with the character that time brings, not to mention mature trees and the larger yards that most older neighborhoods provide.

John Durham – 651-231-2191

john@durhamexecutivegroup.com

Becky Durham – 651-231-2192

becky@durhamexecutivegroup.com

Housing statistics and information provided by John and Becky Durham are based on data available as of May 15, 2013. Data comes from the Regional Multiple Listing Service of Minnesota, Inc. Data deemed reliable but not guaranteed. Powered by 10K Research and Marketing.

Free Workshop for First Time Home Buyers in Woodbury / East Metro / Western WI

john.durham@results.net — Fri, 15 Feb 2013 00:00:00 GMT

Woodbury’s RE/MAX Results will present FREE home buying workshops this spring for first-time home buyers looking to purchase a home in Woodbury and the Eastern metro area, as well as Western Wisconsin. The last few years have made entering the real estate market a scary proposition for many prospective home buyers, but real estate prices are starting to go up again. With interest rates still at historic lows, now may be a great time for a first-time home buyer to enter the market. Learn how to purchase a home in today’s housing market to ensure a seamless and smooth home buying process.

These free workshops will include a leading home mortgage expert who will tell you about the financing and home mortgage process, including conventional, FHA, and VA financing. Topics include:

Pre-approval process
Qualification guidelines: Credit/employment/income/ratios
Loan programs, ie. First Time Homebuyer programs
Monthly payments & cash required to close
Proposed FHA mortgage changes and their impact on buyers

Local real estate experts will share their expertise of the home-buying process in both Minnesota and Wisconsin. They will answer your questions, from selecting an agent to selecting a home, and negotiating a deal. Topics include:

Agent Representation - how/why to select an agent.
Dual Agency - What is it and how it can negatively impact buyers?
Best method to find your dream home and pitfalls to avoid.
Procuring Cause - What is it and how can it negatively impact a buyer?
Purchase agreement and related paperwork simplified. Important factors that should be included in every offer to protect buyers' best interests.
Stucco homes - what should buyers be aware of?
Home Inspection: What to expect and key factors buyers should look out for.
Radon Gas Testing - should I test for radon or not?
Home Warranty - what is it and why might a buyer want to consider?
The Art of Negotiation - What to offer and how to get the best price and terms.
Multiple offers and how to handle them.
Arbitration explained.
Closing Process and what to expect.

You will also receive current Woodbury and surrounding community housing market update, so you can enter the market knowing what is going on in the local real estate market. Market data will include:

Average sale prices in Woodbury and surrounding communities
Price per finished square feet
Current list to sale price ratios in Woodbury
Average days on market

These FREE buyer workshops are offered at the RE/MAX Results office located at 604 Bielenberg Dr. on the following dates and times:

Thursday, February 21 - 6:00 – 7:30 p.m.

Wednesday, March 6th - 6:00 – 7:30 p.m.

Thursday, March 28th - 6:00 – 7:30 p.m.

Workshops require a 48-hour advance reservation. To schedule a registration contact John Durham at 651-231-2191.

Additional workshop dates and times for April and May will be announced soon.

Workshops presented by John and Becky Durham and the Durham Executive Group of RE/MAX Results.

John Durham – 651-231-2191

john@durhamexecutivegroup.com

Becky Durham – 651-231-2192

becky@durhamexecutivegroup.com

Hudson WI Hot Air Balloon Affair - This Weekend!!!

john.durham@results.net — Wed, 30 Jan 2013 00:00:00 GMT

Welcome to the 24th Annual

HUDSON HOT AIR AFFAIR

February 1-2-3, 2013

This year's theme: Majestic Flyway

Join us for wonderful family-friendly events such as an evening parade, hot air balloon launches, geocaching, shopping, smooshboarding, arts and crafts, hot air balloon moon glow and great food just to name a few. This years theme is Majestic Flyway . Check out the weekend schedule for the 2013 events. Join us for all the great fun to be had in beautiful Hudson, Wisconsin along the St. Croix River.

How To Get There

Directions to EP Rock School (Launch Field)
340 13th St S , Hudson, WI

From MN – 94 East, Exit 1, Right on Coulee Road, Left at 4-way stop, Right on Summer St to EP Rock School.

From Stillwater - Hwy 35 S, Left on Coulee Road, Left at 4-way stop, Right on Summer St to EP Rock School.

From WI - 94 West, Exit 2, North, West on Frontage Road, Right at 4-way stop, Right on Summer St to EP Rock School.

John and Becky Durham - Durham Executive Group

651-231-2191

Our website: www.results.net/john.durham

Troy Burne Golf Community Housing Market In Review and What to Expect in 2013

john.durham@results.net — Tue, 29 Jan 2013 00:00:00 GMT

Let’s take a close look at what the Troy Burne Golf Community housing market did over the 12 full months of 2012.

Golfing the Nine and Dine at Troy Burne when here came the balloon - 9th hole!

We all know during turbulent times in the housing market that luxury homes with higher price points will be effected first, as well as be the last to recover during a down market. The 2012 average sales price in Troy Burne was up 2.1% to $501,143 from year ending 2011. While this might not seem like much of an increase to many of you, be sure to recognize what this small gain symbolizes after a half dozen years of luxury homes prices being in a free fall. This modest gain likely indicates that the luxury home market in Troy Burne finally hit rock bottom and is now starting to bounce upwards.

The average days on market in Troy Burne during 2012 was down 9.7% to 252 days from the high of 279 days in 2011. The average sale price and the average days on market can be directly tied to the Troy Burne months’ supply of homes (think of supply and demand). The 2012 months’ supply of homes in Troy Burne was dramatically down 23.4% to 4.8 months from 6.3 months’ supply in 2011.

It is important to recognize a balanced housing market is achieved when there is a 5-6 months’ supply of homes in the housing market. If the months' supply of homes is more than 6 months, we are in a 'buyers’ market. If there is less than a 5 months' supply, the market is called a 'sellers' market.

In Troy Burne Golf Community the months' supply of luxury homes during 2012 dropped comfortably into a sellers’ housing market. With Troy Burne now having a 4.8 months' supply of homes available to buyers as we enter into 2013 means Troy Burne luxury home sellers should start seeing their average sale price increase even more during 2013, if this trend continues.

If you are a Troy Burne luxury home owner who has been trying to wait out the market, 2013 might finally be the right time for you to put your home on the market. For home buyers, recognize Troy Burne home prices are no longer in free fall and are finally pointing upwards.

*John and Becky Durham researched this articles Troy Burne Golf Community housing information from the Minneapolis Area of Realtors. Information is deemed reliable but not guaranteed.

*John and Becky Durham - RE/MAX Results

651-231-2191

John@DurhamExecutiveGroup.com

Becky@DurhamExecutiveGroup.com