Edina, MN Real Estate News

By Kim Melin
(Edina Realty)
Bicycling is a popular sport in Minnesota. So popular that we have more bike trails than any other state in the country! Hennepin County has an extensive list of trails available for leisure, exercise, and basic transportation. While many of these are on-road routes, the number of off-road trails are growing as well. The Minnesota River Bluffs Regional Trail follows the path of an old railway and runs from Hopkins through Chanhassen. There are plenty of entry points and stop-offs, beautiful views, and notes of history along the way. One of the best treasures of nearby Eden Prarie is Birch Island Woods. It is 36 acres of protected sanctuary in its natural state with trees and wetland. Bike trails, along with hiking, ski, and nature trails, snake through it and are linked to the Minnesota...
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I have had the opportunity to help many families the past couple of years with the daunting job of selling the "family" home.  All of very different circumstances, and all unique situations.  I have loved the opportunity to work intimately with the families during this time of transition.  This has lead me to my "latest" idea.  I am working with the Edina Adult Enrichment Classes to present a class/workshop and share some ideas and thoughts around this period of transition.   Please read the notice below.  This would benefit any of use.  If you have a family member aging and preparing to down size...come and chat.  You might want to forward this invitation on to someone else you know.  I would certainly appreciate it!  Please...call with any questions!   Secrets of Today's Real Estate M...
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  9 financial tips for Generation YBy Karen M. Kroll • Bankrate.com HighlightsDebt can be devastating if you don't get it under control.It's not unusual to earn more than $1 million over a lifetime.If you find number-crunching tedious, check out online tools.If you're like many 20- and early 30-somethings -- aka Generation Y -- money concerns are probably hitting you in a way they haven't before. Your paycheck, assuming you have one, probably doesn't go as far as you'd like. Even if you're in tip-top shape, health insurance can be pricey. And fewer companies offer pension plans, even as prospects for Social Security remain unclear.Perhaps not surprisingly, more than half of employees between 21 and 32 say that they're living paycheck to paycheck, according to a recent survey by insurer ...
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By The Prescott Group - We Make YOU Look Good!
(The Prescott Group)
So what's in a name, you say?  A name is how people know you and what sets you apart.  If you are a parent you have you choice of naming your new baby a trendy name like Jacob, Joshua, Emma, or Isabella, a classic like John or Mary, or an oddity like Bronx Mogwli, Moon Unit, or Apple or the outrageous Ella Phant.  When you're a kid, you may like your name to blend in, when you're grown, you might not mind a unique name.  If you're named "Mary Alice" and everyone calls you "Alice," your teachers, the IRS, and all your professional contacts call you "Mary" until you clarify you want to be called "Alice."  The dilemmas of child naming are akin to those of domain naming for your website.   Suppose your name is, well, "Mary Alice Jones "and you have a real estate business in Aardvark, IL, a ...
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By The Prescott Group - We Make YOU Look Good!
(The Prescott Group)
Competition is a fact of life in the business world.  No where is this more true than in the world of Internet real estate sites that are all competing against your website for the client's attention. Your website has your listings, plus other listings from the MLS.  Aside from other area agents trying to promote their listings and the MLS offerings, numerous third party competitors are players too.  Trulia, Zillow, and host of smaller sites offer free information and free viewing to consumers and free listings to agents, but make their money from paid listings.  Trulia, a site backed by venture firms Sequoia Capital and Accel claims 30 million unique visitors in the last six months while Zillow, also heavily funded by PAR Capital Management, Benchmark Capital and Technology Crossover V...
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By The Prescott Group - We Make YOU Look Good!
(The Prescott Group)
Part 2...Internet Marketing and Today's Real Estate Agent: Your website Even in this era of social networking, blogging, and mobile web, your agent website remains a vital marketing tool.  According to a recent National Association of Realtors survey, close to 90% of home shoppers use the Internet in the home-buying process.  When they look for a home on line, they may see homes on a particular agent's website after entering search terms like "homes for sale" or "real estate," coupled with the city or neighborhood, and picking one of the search results.  They may look on a site like Zillow or Trulia, see a home they like, and click through to the agent's website.  Given this consumer behavior, a smart agent continually updates his website to make sure it is user-friendly for visitors an...
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1. Body Part Maker Due to the huge advances being made in bio-tissues, robotics and plastics, the creation of body parts - from organs to limbs - will soon be possible, requiring body part makers, body part stores and body part repair shops. 2. Nano-Medic Advances in nanotechnology offer the potential for a range of sub-atomic 'nanoscale' devices, inserts and procedures that could transform personal healthcare. A new range of nano-medicine specialists will be required to administer these treatments. 3. Pharmer of Genetically Engineered Crops and Livestock New-age farmers will raise crops and livestock that have been genetically engineered to improve yields and produce therapeutic proteins. Works in progress include a vaccine-carrying tomato and therapeutic milk from cows, sheep and goa...
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Construction cranes are operating in Edina at the site of the new Orthopedic Center of Excellence. The building is designed to bring together all the offices and services of Twin Cities Orthopedics (TCO), an independent physician’s group specializing in all areas of orthopedic care. The 75,000-square-foot building is a year-long building project which will provide the ‘perfect’ facilities for the medical group while also providing some great construction jobs in this year of few new building projects. The site of the new center is a full two acres and is located on 65th Street between Valley View Road and France Avenue. There is easy access from the freeway (Highway 62) and is next to Fairview Southdale Hospital. During two years of planning and difficult decisions, including the scruti...
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By Chris Prescott - Minnesota
(Coldwell Banker Burnet)
Construction cranes are operating in Edina at the site of the new Orthopedic Center of Excellence. The building is designed to bring together all the offices and services of Twin Cities Orthopedics (TCO), an independent physician’s group specializing in all areas of orthopedic care. The 75,000-square-foot building is a year-long building project which will provide the ‘perfect’ facilities for the medical group while also providing some great construction jobs in this year of few new building projects. The site of the new center is a full two acres and is located on 65th Street between Valley View Road and France Avenue. There is easy access from the freeway (Highway 62) and is next to Fairview Southdale Hospital. During two years of planning and difficult decisions, including the scruti...
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By Frank Drake
(Edina Realty)
Surviving Illiquidity Create internal cash when outside credit is tight. May 2009 | by Mark Sheffert Mark Sheffert     In last month's column, I wrote about the current credit crisis and why banks are lending only to the most creditworthy businesses. The logical follow-up question is: "If I can't get credit from my bank, what can I do to generate internal liquidity to survive?" Illiquidity is the number-one issue facing businesses right now-especially small and midsize companies. Even large global companies are holding onto cash and postponing spending, because all signs point to a long, deep recession that will challenge even the most financially fit companies. The restricted lending environment is making credit tighter, more costly, and more difficult to negotiate. Business leaders ne...
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1. A clear vision and goalThey know exactly what they want to achieve. This “laser like focus” helps form an unshakeable conviction and dedication to building a successful online business. 2. Patience and a long-term viewThey constantly measure if they are gradually getting there. And they can live with the paradoxes in online retail. For example the Internet changes quickly but organic SEO is a relatively slow process. Every day, every week, every month gives feedback measured in many ways against targets. 3. Taking calculated risksTaking necessary risk and being prepared to invest is key. Investment is the fuel of a business so choosing where to spend money is critical. Successful websites invest money in activities that generate growth or make them more efficient – ideally both at t...
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If you’ve been sitting “on the fence” waiting for conditions to improve before you purchase a home, fence-sit no more! The Twin Cities housing market offers incredible opportunities for first-time buyers as well as move-up buyers. In the Twin Cities, we’re seeing lower home prices than in previous years and historically low interest rates. In early July, 30-year fixed-rate loans were available in the low 5 percent range and 15-year fixed-rate loans in the high 4 percent range. These rates are amazing, especially when you compare them to previous years such as the ‘80s when interest rates were in the double digits. This wonderful combination of low interest rates and moderating prices is resulting in excellent affordability. Home prices are well within the means of the average Minneapoli...
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By Chris Prescott - Minnesota
(Coldwell Banker Burnet)
Did you know that the average home in America averages 2,521 square feet, about 150% the size of the average home in 1977. (We crowded into tiny 1,720 square foot dwellings back then!) Though recent economic trends may lead to smaller homes in the futures, the stereotypical family of two adults and two children (rounded up from the statistical child parts statisticians account for) has enjoyed an increasing amount of space for themselves and their “stuff.” All of this “stuff” complicates plans to move, do a major remodel, or even free up an area of the home for more efficient use. What happens to the stuff? For some people, the old adage “if you haven’t used it in a year, get rid of it!” is a hard and fast rule; for most people the answer is “store it.” A walk through any Wal-mart, Targ...
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Kim Melin | Edina Realty | kim@kimmelin.com | 952-201-4758 5625 Kellogg Place, Edina, MN WOW! Prime location, great condition, clean and ready for you! Charming deck, professional landscaping, double sided fireplace between living room a 2BR/1.5BA Single Family House offered at $459,988 Year Built 1964 Sq Footage 1,264 Bedrooms 2 Bathrooms 1 full, 1 partial Floors Unspecified Parking Unspecified Lot Size 8,345 sqft HOA/Maint $0 per month DESCRIPTION Move in and enjoy, or do some adding of space! Which ever you choose, you will love this location! see additional photos below PROPERTY FEATURES • Central A/C • Central heat • Fireplace • Tile floor • Living room • Dining room • Dishwasher • Refrigerator • Stove/Oven • Basement • Washer • Dryer • Yard OTHER SPECIAL FEATURES • South-HarrietP...
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President Obama recently signed a bill that reforms certain abuses within the credit card industry that may change life as we know it. The bill won’t take effect until 2010 but wounded lenders are already threatening reprisals in the form of higher rates and more fees.  The new bill will help consumers in many ways: More time to pay bills:  Bills will be due on the same day every month, no less than 21 days after they are mailed or delivered. No arbitrary time before 5 pm can be set for when the payment has to arrive. No late fees can be charged for payment not made on the due date when it fall on weekends or holiday. More limited interest rate hikes:  Raising the interest on existing balances can only be done under certain conditions. Subprime fees can't be applied until a payment is o...
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Kim Melin | Edina Realty | 952-927-2888 5305 Kelsey Terrace, Edina, MN Carl M Hansen built in 2008. Executive home in premier West Edina Parkwood Knolls. Additional lots available. No expense spared, profess landscaped,wa 5BR/3.5BA Single Family House offered at $1,895,000   Year Built 2008 Sq Footage 4,898   Bedrooms 5 Bathrooms 3 full, 2 partial   Floors 2 Parking 3 Car garage   Lot Size .44 acres   HOA/Maint $0 per month     DESCRIPTION Carl M Hansen built in 2008. Executive home in premier West Edina Parkwood Knolls. Additional lots available. No expense spared, profess landscaped,water feature,amazing outdoor entertaining, stroll through and admire the unique detail in craftsmanship   see additional photos below      PROPERTY FEATURES · Central A/C · Central heat · Fireplace · Hig...
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By Frank Drake
(Edina Realty)
Staying warm doesn't have to cost a fortune. Here are some ideas from the U.S. Department of Energy for conserving heat and saving money. When the leaves start falling, you know that the heating bills are about to start rising. But keeping your home warm and cozy on chilly autumn nights doesn't have to break the bank. The U.S. Department of Energy offers these simple tips and relatively inexpensive home improvements that will help ensure cold gusts stay out and your furnace doesn't have to work harder than it should. The goal: Conserve energy and keep more of your hard-earned dollars in your pocket. Share these ideas with customers and use them for your own house. After all, who doesn't need to save a little money these days? 1. Plug air leaks with caulking, sealing, or weather strippi...
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The number of homes for sale in the Twin Cities metro area continues to decline relative to a year ago. As of Monday morning this week, there were 26,674 homes for sale in the region, down 20.9 percent from a year ago. In other words, we've lost 1 in 5 homes in our inventory in the last year. Sales are a different story. For the week ending June 20, there were 1,156 signed purchase agreements, up 32.1 percent from the same week in 2008. That's the 12th week of the last 13 to feature a year-over-year increase in sales activity exceeding 20 percent. We must bear in mind, however, that sales are only up in certain categories and price ranges. Year to date, traditional home sales (excluding foreclosures and short sales) are still down 17.8 percent from last year. New construction sales are ...
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By Kim Melin
(Edina Realty)
Refund! That is a word sure to make anyone perk up their ears. And if you have ever had an FHA-insured mortgage then you should pay attention. While the refund process should be automatic, sometimes a refund gets missed or the payee can’t be located. First check the HUD website to see if you are owed a refund. You will need to enter your name or your FHA case number. To be eligible for an insurance premium refund, you must meet these requirements: acquired your loan after September 1, 1983 paid an up-front mortgage insurance premium at closing and did not default on your mortgage payments To be eligible for a distributive share from the Mutual Mortgage Insurance Fund you must meet the following: originated your loan before September 1, 1983 paid on your loan for more than seven years an...
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By Chris Prescott - Minnesota
(Coldwell Banker Burnet)
This shouldn’t surprise any locals, but Edina High School ranks as one of the top 110 high schools in the nation! Newsweek magazine released a list last week of the top 1500 high schools and Edina ranks at 108! Among the Minnesota schools on the list, Edina High School ranks at number 2. According to Newsweek: Public schools are ranked according to a ratio devised by Jay Mathews: the number of Advanced Placement, Intl. Baccalaureate and/or Cambridge tests taken by all students at a scEhool in 2008 divided by the number of graduating seniors. All of the schools on the list have an index of at least 1.000; they are in the top 6 percent of public schools measured this way. The Twin Cities area has 11 schools appearing on the list and Minnesota has 27 overall. This simply confirms what we h...
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