Otter Tail County, MN Real Estate News

By Tim Erickson, Producing Branch Manager
(LeaderOne Financial, NMLS ID 12007)
Mortgage Specialist in Fergus Falls, MN  Fergus Falls MN is a unique area of about 13,000 residents.  Surrounded by the vivid green of nature and tranquil calming prairies, Fergus Falls, MN is composed of luscious rolling farmland and over 1,000 lakes within the area.  For being a decently small community, there is a lot one can participate when living in this area, but first, before you get your home and start running around exploring the area, you should consider talking to a mortgage specialist. A mortgage specialist can provide you with thorough information you will need in regards to your new home purchase.  A mortgage specialist is someone who can look at the property you have and establish an efficient payment plan over the course of a set amount of years in order to make sure yo...
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By Nobody Here
(Cold)
The Pelican Rapids Chamber of Commerce presents the Home & Garden show on April 25th from 9:00 to 2:00.  The show is being held in the PR High School Gymnasium. Admission is only $1 and proceeds go to future Chamber events. Local businesses will be on hand at the show for helping you get your home and garden ready for the summer.  There will be games for the kids, food available, seminars, and a silent auction.  Be sure to stop in and check it out. With over 50 different booths at the show there is sure to be something for everyone.
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Sales figures for Lakeshore Residential Properties Feb & Mar 2009:   Detroit Lakes MLS information   Fergus Falls MLS information   Feb 09 March 09 Feb 09 March 09 Closed Sales 6 8 1 4 New Listings Added 47 52 19 36 Pending Sales 4 3 6 2 Active Listings 341 385 267 290 Median Sold Price $215,000 $190,000 $235,000 $299,000 Average Sold Price $223,083 $278,062 $235,000 $289750             Analyzing sales numbers for lake properties is always difficult in the winter months.  The seasonal dips are dramatic and the low numbers make reading a trend almost impossible.  Unfortunately, my magic crystal ball is also in the shop this week, so I have no predictions for this summer. One important fact to note as we go into the spring season is that the number of lake homes currently on the market re...
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By Ryan Field, Real Estate - Fergus Falls - MN 56537
(RE/MAX Signature Properties)
So the state of the economy sucks and the stock market is continuing in a downward spiral. Lately, I feel like a big pessimists. I need to keep my eyes off the news and focus on the positives. What positives are there. Well I was thinking about how great real estate is as an investment. There are many investment options to pick from including stocks, bonds, mutual funds, commodities, money market accounts, certificates of deposit, and real estate. No, matter which way a person goes they face market risks with whatever vehicle they are using for the investment. Investment real estate is a great hedge against whatever the economy is doing. Say for example you want to be a slum lord and own an apartment complex or maybe just a duplex. The rents that you receive from your rental will more t...
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By Nobody Here
(Cold)
This week the Minnesota Pollution Control Agency (MPCA) reported that there has been an unexpected rise in the mercury levels in northern pike & walleye fish caught in Minnesota.  (article on NorthlandOutdoors.com) The sample fish were collected from 845 lakes across Minnesota, and the statewide trend indicates more than just a local source of contamination.  Local mercury contamination was on the decrease up until the mid 1990's.  Since the mid 1990's the trend has reversed, due possibly to the increased use of coal fired plants in Asia. Fishing has been, and continues to be a favorite pass time in Minnesota.  The new findings raise concern, but the MN Dept of Health has not adjusted it's recommendations for safe consumption of fish. (how much can I eat?). Although the recent mercury i...
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Maplewood State Park just west of Pelican Rapidson Hwy 108 is hosting it's candlelight cross country ski event Feburary 21st from 6:00 to 8:00PM. A one mile trail around Cataract Lake will be lit with 150 candles for the event.  Chili, snacks, and hot beverages will be available at the Trail Center starting at 5:00.  Not into skiing? There shoud be some great conversation around the campfire.  Either way, it should be a great evening. Maplewood grooms about 8 miles of cross country ski trails through the winter months, (depending on snow).  Park passes and Ski passes are required in the Park.  Call the Park office for details (218) 863-8383.  
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January is usually a slow month for real estate.  This year even more so.  Blame it on the weather, the economy, or your least favorite politician.  The fact is, not many people want to look at houses in northern Minnesota during January.So....  What to do with this extra time?Well, fish of course. This past weekend felt like a mini heat wave with temps above zero for the first time in about 2 weeks.  It was a great time to get out on the ice and try a little ice fishing on Lake Lida.Driving out on the ice is getting to be a challenge with all the snow we've had.  Roads have been plowed, and venturing off the plowed roads is almost impossible without a snowmobile.  The heavy snow has also made flooding more of a problem, but any day fishing is worth a little extra effort.  I was only st...
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By Nobody Here
(Cold)
Most Pelicans fly to warmer locations for the winter. Not Pete. Crisp morning temp of -30°F too cold? Ha!  Not too cold for Pete.  Standing vigilant along the dam, watching over the city.  This piece of the Pelican River is all his.
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By Nobody Here
(Cold)
While doing a market analysis-price opinion on a home, I dug up some of the following data on Lakeshore Residential properties in Otter Tail and Becker counties, MN: Detroit Lakes MLS total closed sales (Apr-Dec)2006     2172007     1882008     176 Fergus Falls MLS total closed sales (Apr-Dec)2006     1472007     1402008     124 Lake home sales have definitely slacked off over the last two years.  Another factor in the market slow down is the significant increase in properties listed for sale.  In just the last year, the monthly average for active listings has increased by 25%!Homes are still selling, although it takes longer (140+ days), and the pricing needs to be competitive.For Buyers, the opportunities are terrific for finding a great lake home.(note: Data was only used from April ...
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Lakeshore sales in the Ottertail and Becker county region remain flat thrugh 2008.  As the summer selling season comes to a close, the total number of closed sales for lake shore homes shows a similar pattern to that of 2007.  Although still down from the peaks of ‘05 & ‘06, we are fortunate that we have not seen the major market crash as seen in other portions of the country. The real change in the current market is the increase of properties listed ‘For Sale'.  A significant addition of lake homes on the market  has created a buyers market for lakeshore property across the region. Buyers looking for a lake home have a vast supply of homes to choose from, and with a little patience can find their dream lakeshore property. Sellers of lake property need to consider the extra competition ...
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How is the market for Lake Homes in the Ottertail and Becker Lakes area?  Let's take a look at some of the numbers from the area Multiple Listing Services....[Side Note: I belong to the the Detroit Lakes area MLS as well as the Fergus Falls area MLS.  Combined they give a very good picture of what is happening over the entire Minnesota, Ottertail and Becker county Lakes Area.] In general, Lakeshore properties are taking much longer to sell, and Buyers have more choices than ever before. Without getting too detailed into the specifics, the chart shows two trends.  Lake homes sell better during the summer months... (Not many people are thinking about fun at the lake when it's -20 ouside.) Sales have dropped slightly over the last 2+ years, but have remained fairly steady. While this is ce...
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By Ryan Field, Real Estate - Fergus Falls - MN 56537
(RE/MAX Signature Properties)
What makes Ottertail County a great region to live and visit? My Answer: The hunting opportunities. There are a number of great things that make this area an awesome place to live. We have more lakes in this county than any other county in the United States. We have a landscape of incredible beauty and we have four seasons of weather.  My personal favorite season is Autumn. The reason for it being my favorite season is because it is when the football season starts and hunting season starts. We have it all in this area from the stand point of an outdoors man. You can start hunting September 1 and hunt all the way through December 31.Hunters have the opportunity to hunt, ducks, geese, pheasants, grouse, prairie chickens, snow geese, turkeys, mourning doves, deer, and various small game th...
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By Ryan Field, Real Estate - Fergus Falls - MN 56537
(RE/MAX Signature Properties)
As of the writing of this post the government has recently taken over Fannie Mae & Freddie Mac. Two of the largest backers of mortgages in the United States. So what does this mean for the real estate market? My oppinion is that it will help out the real estate market based on the following reasons. 1. Interest rates have initially dropped. This should create some stability in the market. The excess supply of homes for sale should decrease in time as demand for homes increases.  2. Prospective buyers will now purchase. Since rates have dropped the cost of home ownership has dropped. Monthly mortgage payments will have dropped and buyers are now able to purchase more. Buyers now are able to purchase more bang for their buck. 3. Cheaper Rates- Homeowners that are feeling the squeeze of an...
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By Ryan Field, Real Estate - Fergus Falls - MN 56537
(RE/MAX Signature Properties)
  How to sell your Real Estate in Ottertail County or Fergus Falls It is the one thing that almost everyone does at one point in their lives, sells their home. This can be a very confusing time, filled with many questions and few answers. It is hard to understand all of the questions you may have about selling your home. Fortunately, 998home.com can help. 998home.com can help you with all your questions about selling your home. Our agents have many years of experience in the real estate industry. We pride ourselves on quality customer service. Our customers come first and we make selling your home, the same way. Let's begin the home selling process so that you can understand how easy and hassle-free 998home.com agents make it for our valued clients. Prepare Your Home to Sell The first q...
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By Ryan Field, Real Estate - Fergus Falls - MN 56537
(RE/MAX Signature Properties)
Purchasing a home is one of the largest transactions that a typical person will ever do in their life. I have outlined a step by step process on how to purchase a home below. Keep in mind that all markets are different but most of the information below will work for any real estate market. In today’s media driven world where it appears that the real estate market is in a free fall and buyers have many questions I hope this information helps. 1. Find a Realtor - Do Your Homework It is important to do your homework when choosing a real estate agent. Do not be afraid to meet with many different agents. After all, they are competing for your business and this is what makes the real estate industry successful. Feel free to ask them the following questions: How many years of experience do you...
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By Jonathan Meek, RSPS
(Adam Meek Real Estate)
When Will My Property Sell?   There are four things that determine whether or not your home will sell quickly for the right price.  Some of these may not be what you want to hear, but all of them are what you need to know. 1.  LOCATION:  Nothing affects your home’s desirability like location: proximity to services, neighborhood attractiveness, and any special settings like lake front, fairway frontage, views or a private setting.  Recent surveys have shown that over 85% of buyers will pass up a “nicer home” for one that is in a preferred location.  The location of your home is fixed.  You can’t change it.  If it’s a great location it will counter balance other not so strong features. If the location is less than optimal, you will need to adjust the other 3 factors 2.  PRICE:  Your home ...
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By Craig Mische, Lakefront Real Estate in Alexandria
(Alexandria Brokers Realty)
Near Battle Lake in Minnesota, is Glendalough State Park. It is the home to abundant populations of white-tailed deer, racoon, red fox and many other smaller animals.Lodging and camping facilities offer 22 cart-in sites, three canoe-in sites, one group camp and one camper cabin. The hilly, lake-strewn and partially wooded setting of Glendalough State Park is an excellent choice for recreational activities.
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By Craig Mische, Lakefront Real Estate in Alexandria
(Alexandria Brokers Realty)
Around noon on Saturday I was at the lake lots of North Turtle Lake Shores on North Turtle Lake in Battle Lake. I am still working on converting the videos to flash format but was anxious to see the first clip I shot. While filming, I noticed a large bird soaring and sure enough, it was a Bald Eagle. You can see it in this video (move your mouse over the link and click the play button in the pop-up). My filming was a little jerky as I was mesmerized by the eagle and forgot about filming. Here is another video taken at the back of this 5.03 acre lot with 278' of lakeshore. Located 4 miles north of downtown Battle Lake, North Turtle (not to be confused with Douglas County's Turtle Lake) is a 1,484 acre lake  with water clarity of 12.1 feet. The smallest lot is 1.9 acres and the largest is...
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