4306 Grimes Avenue, Morningside, Edina, MN Is Now Pending

The long-awaited 42-day contingencies have been removed, and my listing at 4306 Grimes, in the Morningside neighborhood of Edina, has finally moved to ‘Pending’ status. What this means is, my client has accepted an offer, and all of the contingencies have been removed (inspection contingcies etc.) and this property is scheduled to close at the end of the month.

The market asking price (had it gone on the MLS) would have been $450,000. Many people inquired as to the status of this home, and why it was not listed online: The reason; at the last minute, right after the sign went in the yard when we were ready to go on the market, the seller extended the time period of the ‘right of first refusal’ for the church next door to come up with a solution so they could purchase all or part of the property. Somebody purchased the home and is going to build a single-family home on it, and deed/gift a portion of the property over to the church next door. The buyers had a 42-day contingency period that tied the home up for a while…hence the sign in the yard and no online information or ‘Sold’ sign on it.

Now the ‘SOLD’ sign is officially on.

September 14, 2008 · Filed Under Real Estate

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Minneapolis In Top 10 For Projected Growth Of Home Prices and Jobs

This is a very good article from Forbes.com, which uses housing starts data from the National Association of Homebuilders and job-growth projections from Moody’s Economy.com . Forbes.com cites data on why they believe Minneapolis is one of the 10 cities projected for job growth and an increase in home prices.

It seems pretty logical: Minneapolis was not hit as hard with overbuilding as many metropolitan areas, job growth is expected (largely due the the positively disproportionate amount of Fortune 500 companies and successful mid-sized businesses) and typically tied directly to job-growth, are home prices.The top 10 cities listed are:
1) Albequerque NM 2) Charlotte, NC 3) San Antonio, TX 4) Portland, OR 5) Austin, TX 6) Salt Lake City, UT 7) Colorado Springs, CO 8) Minneapolis, MN 9) Atlanta, GA 10) Oklahoma City, OK 

September 6, 2008 · Filed Under Real Estate

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Rosalux Art Gallery Art Show This Saturday

If you are looking for one of Minneapolis’ premier art galleries, be sure to check out the art show at ‘Rosalux’ this coming Saturday, from 7-10PM. A friend of mine - Tara Costello - is one of the primary artists featured this Saturday. Tara’s work is definitely worth seeing. She can also be contracted for private work for homes or businesses as well. Click here to see the Rosalux website: http://www.rosaluxgallery.com/

September 3, 2008 · Filed Under Mortgage and Finance, Real Estate

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