Sunday, September 30, 2007

There's More to Fear than Toys

The media has been creating a lot of scared parents as of late with the various recalls on toys made in China. Seems the Q & A divisions of these companies in China have been dropping the ball and contaminating the toys with lead paint. But toys, in general, could be the least of parental concern when it comes to lead poisoning.

According to the Environmental Protection Agency (EPA), research suggests that the primary sources of lead exposure for most children are:

  • deteriorating lead-based paint

  • lead contaminated dust

  • lead contaminated residential soil
The issue of Lead Paint is nothing new to Minneapolis real estate agents. Since 1978, the United States government has banned the use of lead paint. This can be a major concern with older homes in Minneapolis, that might still have the original paint under years of remodeling. Some of the areas that lead paint is most easily accessible in an older home are:

  • Windows and window sills

  • Doors and door frames

  • Stairs, railings, and banisters

  • Porches and fences
If you are thinking of buying a home in the Twin Cities that was built prior to 1978, than you should be given a copy of the EPA brochure "Protect Your Family from Lead in Your Home" or you can view a copy online. Reading the pamphlet and understanding the cause and effect of lead, can help prevent ingestion by children or yourself. The EPA provides a checklist on how to check and determine if you have lead based paint in your home.

It is also required that you sign a Lead Based Paint Disclosure when buying or selling a home built before 1978. A sample disclosure form is available on the EPA website. If your real estate agent fails to mention this requirement, get a new agent.

Friday, September 28, 2007

I Love Roller Coasters!

Real Estate has been a roller coaster this last year. I wonder if we can get off anytime soon?

This photo is of the roller coaster at the Mall of America. At the center of the Mall is The Park at MOA. Not a very original name, but they could no longer use the Camp Snoopy theme of the last few years. The Park will soon become "The Nickelodeon Universe" and will be opening in the Spring of 2008. Construction is going on so be prepared for some rides to be shut down here and there.

Many of the rides are going to change, and I can't find any info on what will be staying. I just hope they don't get rid of the Carousel as it is my son's favorite ride.

Thursday, September 27, 2007

Don't Forget to Pay Your Lighting Bill

If the city of Minneapolis gets it's way, YOU could be seeing a higher utility bill in the mail soon.

The Department of Public Works wants to "raise" $16 Million by billing every Minneapolis resident to pay for new street lights throughout the entire city. Many of the city lights are 50 years old an deteriorating, and there are 40,000 of them! According to Public Works "The proposal includes more glare-resistant lights, and a mixture of low lighting in residential areas, and higher lighting in commercial areas.The proposal also includes lights that limit the amount of light pollution emitted into the atmosphere."

Before you say that you agree and that the city does need some renovation, take a look at what it will cost you.

They want to charge YOU $10 per month...for 30 YEARS!

A major problem is that the charge is a "fee". Some residents are asking for a property tax to be implemented because then at least they can write it off. "Fees" don't allow one to right them off at the end of the year. I for one, think Minneapolis needs to go back to the drawing board and come up with another solution, that doesn't involve fees, OR an increase in local real estate property taxes.

Tuesday, September 25, 2007

Paradise by the Backyard Lights

The Minneapolis Pond and Landscape Tour this year was a fabulous display of what one can do with a backyard. The theme always seems to center around peace and relaxation. The small brook in these photos was designed for a home in Burnsville and was one of my favorites.

Creating an oasis means incorporating things like water, plants, trees, and sculpture. Shade trees and areas for sitting are a must, and giving the yard visual interest is important, too. I saw some yards that almost had "it", but still fell short. This one in Burnsville had it all. Of course hiring a professional landscaper does help with the unity and I would have to say that the designer definitely made his money on this backyard masterpiece.

Monday, September 24, 2007

The State of Minneapolis Condos

I have had some recent requests about how the condominium real estate market is doing here in the Twin Cities so I read over the data supplied by the Minneapolis Association of Realtors to get an update. There are a couple different categories to view to see the big picture, but I will warn you, the picture can be seen quite easily in the stats.

Housing Supply Index : There are over 3400 units for sale right now, with 2285 of those being previously owned condos, up 6.3% from 2006. If you were to try and sell everyone of these, without adding to the inventory, it would take almost 11 months to do so. This time last year, the magic number was 7 months, so we have increased selling time by 40%!

Home Sales : When looking at the real estate data and seeing what is being bought, condominiums do not top the list. In fact they are the least desired type of property right now, with closing this last year being 23% less than a year ago. The best thing selling right now is single family homes. Not good news for condo owners needing to dump their condo in downtown Minneapolis or St Paul.

List Price vs. Sales Price : Any condo owner looking to sell really needs to take a hard look at what a unit is actually selling for and compare it to the original list price. When a unit hits the market now, a sale hinders on the entry list price. Price too high from the get go and most likely you won't be selling for a while. Price it ahead of the market and you have a much better chance of getting rid of the unit. Currently, resales are only getting 94% of the original asking price.

Average Sales Price : Real estate is local, even for condos, so when we take an average of the Minneapolis condominium market, we group everything together. So far this year, builder of new units are seeing the greatest drop in sales price, about 9.2%. The average new construction unit is around $259,000, while the average price for an owned condo is about $171,000.

The graph above breaks down the inventory of condominiums into price ranges. If you want to check out a particular range, then this is the place to look. Condos in Minneapolis are the hardest real estate to sell. Builders increased new construction by so much that now there are too many for sale, and not enough buyers. Those that do need to sell because they bought at the height of the market when it was cool to do so, are now paying the price by not making any money on their unit. Some are breaking even, but others are selling for less than the purchase price or going into foreclosure.

I hate to be the bearer of bad news, but such is the life of real estate. Things will get better once the amount of inventory has decreased and the doom portrayed by the media is gone. Just keep your chin up and hold for the next couple of years.

Sunday, September 23, 2007

Spamming a Blog

This last week I have been receiving SPAM in my comments. Blogger, like other blog sites, has a system set up to help prevent this, but it doesn't always work. Even though there is no rule book on blogging etiquette, there are well known courtesies, especially if it is a professional blog like real estate.

The recent offender is another real estate agent who has left at least 5 comments. Normally this wouldn't be a problem as I love comments from my readers. However it does become a problem when each message is the same, with a link to his site. He is obviously trying to get search engines to follow his site and give him some SEO (search engine optimization). The only problem is that he is committing blogging no-no number one by spamming me.

My only solution is to reject his comments.

So if you have a blog, don't let comments rule your life. Comments are not your main concern, but posting quality content should be. If you get SPAM like I described, don't feel bad by deleting their comments. It will make you look more professional by not cluttering a good post with bologne.

Friday, September 21, 2007

F is for Photo

Earlier this summer I took a drive to Red Wing, Minnesota, along HWY 61. Along the drive, I went through a very small town called New Trier. This Beaux Arts designed building was finished in 1909 as the St Mary Catholic Church. The paint is so bright that you cannot miss it as you drive by, and the fact that it sits on a hill makes the church appear like it is looking over the community.

Thursday, September 20, 2007

RESPA Requirements

Many people have never heard or RESPA, especially when they are completing a real estate transaction, but it is very important to know what your rights are under it. It is a federal law so states, and cities, like Minneapolis, are not exempt from its rules.

The Real Estate Settlement and Procedures Act was enacted by Congress to keep consumers from unnecessarily high settlement charges. Some companies were abusing people and getting as much money out of them as possible. Here are some things that the Act covers:

  • Prohibited Fees - It is illegal for anyone to pay or receive a fee, kickback, or anything of value for referring a real estate client to a particular closing company or business. For example, a title company cannot give me $100 for referring business to them.

  • Fee for Work - anyone performing work on a closing, like a lender, lawyer, title company, etc can charge a fee for their service. Only when someone tries to collect a fee for doing nothing is it a violation of RESPA.

RESPA Disclosures

There are also disclosures that must be produced during and after settlement. These protect the consumer by keeping them informed at all times on what is "going on" with their loan and the entire closing process.

  • Good Faith Estimate - Anytime you apply for a loan, the lender is require to provide you with a good faith estimate of settlement charges you will most likely pay. If a lender refuses to give you one, red flags should go up and you should walk away as fast as possible.

  • Servicing Disclosure Statement - a lender must tell you in writing, when you apply for a loan, if anyone else will be servicing your loan

  • Affiliated Businesses - if a lender, title company, or brokerage is affiliated with anyone who will be handling your closing, they must disclose this to you in writing. Many times businesses are owned by the same parent corporation.

  • HUD - 1 Settlement Statement - it is law that you must be presented with your settlement statement, which lists all the final charges, 1 business day before the closing date. I see many companies violating this rule and getting the document to the consumer the same day as closing. When representing my clients, I make sure they get it 1 day prior no matter what.

  • Escrow Account Disclosure- most lenders require that an escrow account is established for tax and insurance monies and you will have to pre-pay for two months worth at closing. With in 45 days of closing, you will receive a document that lists all your expected payments for the next year.

Tuesday, September 18, 2007

Confessions of New Construction, Part 2.1

Yesterday I left you wondering how we picked our lot, and I am sure you lost lots of sleep in anticipation. The photos are of the lot now that it is cleared and there is a short video at the end of the post. So here it goes.

  • Direction of the House - the lot we chose has the back of the home facing south. This was very important to us as it keeps the sun on the sides of the home with less windows during the morning and afternoon, keeping our energy bill down.

  • What is Behind the Lot - we got lucky that the lot has a natural preserve with some wetland behind us. When we go on our balcony or my kids play in the yard, we will have alot of privacy.

  • Street or Cul-de-Sac - since we have children, we were concerned about street safety, so a cul-de-sac lot was our best choice. If helps also that the area is at a dead end so the only traffic will from the residents.

  • Trees or None - well, the builder cleared the lot from the beginning, but since the lot backs up to a natural area, we have a line of trees on our back lot line. A few are on our property. The trees will add some great shade during the summer and make the view more appealing.

  • Builder Premiums - as you can guess, this lot was more expensive then the other lots and the builder put a nice premium on it, one reason it hadn't sold before we came along. It is also one of the larger lots because it is pie-shaped. Luckily the builder was giving some great concessions and we were able to get half off the premium.

  • Size of Lot - the lost is about a third of an acre, so we have room in the back for a nice yard and a deck.

  • Lot Location - the only thing different about the location is that there is a walking trail next to the home. We didn't feel this was a big issue as it isn't used much and the trail goes through the whole preserve. And it will make a good sledding hill in the winter! It is very quiet in this part of the neighborhood, which we love.

Monday, September 17, 2007

Confessions of New Construction, Part 2

Picking the Lot

So anytime you decide to build, one of the most important factors is location. Not only do you have to decide if the neighborhood will work for you, but you have to pick out the exact lot you want to live on. Many things can affect your lot decision:

  • Direction the House Faces - think about how the home will sit on the lot with regards to the sun. East-West facing means you will get direct sunlight in the morning and evening, possibly causing a larger energy bill in the summer to cool the house.

  • What or Who is Behind the Lot - Will there be other homes behind your lot? Is there vacant land like a corn field that could be built on in the future? Take into consideration whether you can live with what is behind you. Vacant land always has the possibility of being built on, so never believe when someone tells you it can "never" be built on. Zoning laws change over time.

  • Street or Cul-de-Sac - If you have children, living on a cul-de-sac might be more appealing for safety reasons. Look and see if the street carries heavy traffic during the day or during rush hour, which might require you visiting the house a couple times.

  • Trees or Clean Slate - Decide whether you want a treed lot or one that has been fully cleared. Many developers just cut everything down, but you can ask for them to leave select trees. Older trees add more shade and are already established when compared to new landscaping.

  • Builder Premiums - If the builder thinks a lot is more desirable, they might add what is called a "premium" to the lot. This can be anywhere between a couple thousand to tens of thousands of dollars.

  • Size of Lot - some people want a small yard so they have less work. Others like a couple of acres to give them more privacy. One of the most important factors is if the lot is big enough for your home. Talk to the builder and look at the various possibilities on where the home will sit. Don't forget to ask about set back lines and any easements that might run through the property.

  • Lot Location - is the lot near any commercial businesses, does it back up to a retaining pond, does it sit off a busy road with lots of noise? Do larger power lines run along the back lot line? These are just a few things you should think about as they could affect future resale value.

Ok, so what did we do? This is a new home construction series about the home we are building after all. Well, check back tomorrow and I will run down the decisions we made. Don't want to make the post too long!

Sunday, September 16, 2007

Weekend Off???

Well, I decided to take the weekend off. It was probably one of the last really nice fall weekends we will have this year before the cold sets in. As a Realtor, everyone thinks you work 24-7. The fact is, that most of us don't. Sure, we might spend the weekend showing homes, but that usually means we might take Tuesday and Wednesday off during the next week.

Yes, I have a cell phone and every time it rings I have the urge to answer it. Before I had kids, I answered it all the time...I had that luxury. However now I set limits because I want to spend time with my family. I tell all my clients that I don't answer the phone after 6pm, that's reserved for family. I also don't work before 9 am because I like my morning time alone with the kids. Of course that doesn't mean I am not on the computer blogging.

I have had clients call me at 3 am, wanting to know the address to the new home they just bought. I have had clients call 10 times in a row because I didn't answer the phone the first time they called. I still didn't on the 10th one either. Some Realtors advertise they are available 24-7. Good for them...I don't function well without 8 hours of sleep so that doesn't work for me. I draw a line between work and home, which can be difficult sometimes when you work from home.

So if you need to reach me and I don't answer the phone, the best bet is that I am with family or with another client. Just leave a message and I will call you back. The same goes for email. I usually answer in a couple of hours, depending when I am on line. I love real estate and if you get to know me, it shows. Work with me, and I will work hard for you...just not at 3 am.

Friday, September 14, 2007

Here Today, Gone Tomorrow

I am a big fan of the Back to the Future movies. Reading an article today by the Real Estate Journal made me think back to a scene in the second movie. Marty is in the future with Doc and sees an antique store. He goes inside and looks into buying a Sports Almanac. While he is leafing through it, the sales lady shows him a Dust Buster and comments how it was used in the "past". I always laugh at this scene as it makes me wonder what will become an antique in my lifetime.

Apparently one item will be antique before I could even imagined. Start saving some of your incandescent lightbulbs...they are about to become history. According to the article, "The House and Senate are working on legislation that over the next seven years would phase out the conventional light bulb, a move aimed at saving energy and reducing man-made emissions believed linked to climate change". I won't get on my soapbox and tell you how much I hate something like this being "legislated" into law. In my opinion, if the people really want lower emission light-bulbs, it will happen all on its own. It is already starting to happen. We just don't need the government making something into law that the free market is already handling quite well. There, I've said my peace.

The bill will have all conventional bulbs gone from the world market by 2014. By 2020, all lighting, no matter if a lamp in your house, or a ceiling light in your office, will have to be the kind "that can only be met by the compact fluorescents or other technologies that can match their efficiency".
Bye-bye lightbulb. I will miss you. Of course the stores that sell lamps are loving this because everyone will have to buy new lighting sources because their "old" bulb lamps will no longer "work". Oh, the power of lobby groups.

So my question is, once the current bulb is gone, what will happen to the jokes about how many people it takes to screw in a light bulb? Or what object will be shown when an idea is created? Only the government could ruin all our fun!

Thursday, September 13, 2007

Minneapolis Market Update

Details for the Southwest Minneapolis Real Estate Market

Due to Minneapolis encompassing a large area of real estate, the local Realtor association has created 11 areas in Minneapolis in order to better organize the sale data.The Southwest region is denoted by the number 309 in our multiple listing system and includes the Lake Harriet area .Following is some year-to-date (YTD) sales information.

Average Sales Price : YTD the average sales price is $363,370. In 2006, it was $344,448. Surprisingly home prices in the Lake Harriet area have increased 5.5% this last year. Good news indeed!

% of Original List Price Received : currently sellers are getting 96% of the list price, where in 2006, sellers were receiving just 96.8%. Prices are holding steady and sellers are doing pretty well compared to other parts of Minneapolis.

Average Days on the Market : If you are a seller in the southwest region, you are doing quite well. Currently it is taking only 113 days to sell. While this may seem long when comparing days on the market for 2005 and 2006, it is actually more of what a normal market should bare.

New Listings vs. Closed Listings : YTD there have been 1167 homes listed for sale down 19% from 2006. At the same time, only 558 have closed this year, which is down 14.8% from 2006! While you hate to see sales down, this is one of the best selling areas in Minneapolis.

As you can see, the Lake Harriet real estate market is holding it's own this year. While many news stories report that the market is sour all over the Twin Cities, this is just a generalization. Real estate is truly local, even down to specific neighborhoods.

Look for more updates every couple months as the new data is released so you can get a better view of how the market is progressing as the year goes on!

Wednesday, September 12, 2007

Don't Be a Doormat when it Comes to Remodeling

An article appeared in the Real Estate Journal today which provides a valuable lesson to home owners thinking of remodeling a bathroom or kitchen in the near future.

The author, Jeff Opdyke or the Wallstreet Journal, decided to remodel their bathroom, a project that was to be their first. They knew they wanted an Asian theme with lots of slate. What they forgot to do though was thoroughly research how much their dream bathroom was going to cost them. After all was said and done, the project ran over budget by 75%!

After watching the video Mr. & Mrs. Opdyke made of their experience, a couple things came to light which could be the reasons for their costly expense.

  1. They failed to research the cost of completing a "themed" project. Themed rooms always cost more. Slate tile is quite expensive, especially if you request the contractor design a pattern on the floor. Also adding unique faucets, bowls, cabinets, etc, will quickly run up the price tag.

  2. They neglected to take charge of the project. Once the contractors were in completing the work, the owners became doormats. Instead of telling the contractors the way it was going to be, they allowed them to dictate how the work was going to be completed. The contractors obviously didn't stick to the budget, and if a question was raised about it, the contractors pretty much told the owners they "had" to pay the expense. What the owner's should have done was put their foot down and held the contractors to their contract.

  3. It takes two to supervise a remodel. One thing I have learned through rehabbing a couple of homes with my husband, is that it works out better if both spouses are involved. In this home owner's case, the husband pretty much took over dealing with everything and left the wife out in the cold. This mistake cost them dearly as the husband could have kept on track had he consulted with another party, his wife. My husband and I approached ours by having me in charge of the design, him in charge of the budget, and both of us making final approvals on everything in between...a sort of check and balance if you will.

Probably the number one thing to remember is to research, research, research. Look at the space you have and come up with multiple ideas on how to remodel it. Get quotes from different sources with a time line for completion. And for God's sake, GET IT IN WRITING!

Tuesday, September 11, 2007

It Must be Global Warming

Well today is blistering cold here in Minnesota, well, at least around the Twin Cities. The high is 53 degrees with a bitter cold wind blowing. The only problem? It's September!

Having lived in Florida and San Diego were it is never cold like this, it is taking some getting use to. I am sure there are many who immediately are blaming the early chill to global warming since that seems to be the recent punching bag lately, but Minnesota is on a more northern latitude than most states, and winter comes earlier and lasts longer then in other areas. If you are planning on moving to the area soon, please don't let this hinder your decision to move. The changing seasons are great and I look forward to the upcoming leaves changing colors in the next month. Who wants to live somewhere were it is always warm and has no seasons? Well, at least not me...anymore!

Monday, September 10, 2007

The Lakewood Cemetery in Minneapolis

While not exactly a historic home, the Lakewood Cemetery is one of the best preserved examples of historic Victorian design. Founded in 1871, local affluent society members created the park which consists of 250 acres of land. Though a cemetery, it doesn't feel like one. It almost has a romantic feel, with its gentle, winding curves, tall trees, and views of Lake Calhoun.
As soon as you enter, beautifully carved monuments cover the grounds: Goddess looking figures, obelisks, temples, etc. Some very famous people are buried here including:

  • Hubert H. Humphrey - United States Senator of Minnesota, 38th Vice President of the United States under Lyndon Johnson

  • John S. Pillsbury - founder of Pillsbury and Company, Governor of Minnesota

The beautiful building in the photos is the Lakewood Memorial Chapel, designed by Harry Jones. It was built in the Richardson Romanesque style, with influence from Byzantine and was modeled after the Hagia Sophia in Istanbul.

The park is open to the public daily until 7pm, with the ability for self guided tours.

Saturday, September 8, 2007

Tax Credit Savings Just for You!

Some of you may not have heard of the Energy Policy Act of 2005, where homeowners can qualify for tax credits if they make energy related home improvements from 2006 to 2007. To get the credit improvements must meet certain standards set by the IRS and be to your primary residence.

Of course if you snooze, you lose. The credits are only available to the end of this year so you better get you act together and get those projects started as soon as possible.

A max of $500 applies to the following items:

  • heat pumps
  • exterior windows and doors
  • insulation
  • central air conditioning
  • certain roofing material...and more

To find out more information, go to the government website.

Thursday, September 6, 2007

Last of the Wild Flowers

Most of the wild flowers are fading, but the False Sunflower is still going strong. It is about the only thing I see now along side the roads. Fall is fast approaching and I hope we have a great display of color.

Wednesday, September 5, 2007

New Blog Created for Fans of Historic Buildings

If you read either of my real estate blogs, you realize that I am a big fan of historic architecture here in Minneapolis and St Paul. It is my speciality afterall!

Well, to make this more complicated in my life, I have started a blog that highlights Minnesota architecture. Called Historic Homes of Minnesota, I plan on highlighting the Historic Homes I post about on my regular blogs, as well as old churches and structures throughout the state. This week I have listed a couple walking tours happening in the Twin Cities for September. While I won't be posting daily, please check it out every now and then for important information about local preservation issues.

Tuesday, September 4, 2007

Confessions of New Construction, Part 1

Picking the Builder

In the Pilot episode of New Construction Series, I talked about how we visited various builders and narrowed down our choices. It wasn't easy, taking about 3 months of weekend appointments. What was easy was picking out the floor plan. What took alot of time was deciding how we wanted the home to look on the inside and outside. To figure out a final price on the home, we had to sit down with the builder's agent and put everything we wanted in the home. This estimated price could then tell us if the home, and the builder, were in our price range.

Builders advertise their "base price". This price is just what you get if you were to build the home as a shell. For instance, this price doesn't include air conditioning, so if you want it (and who wouldn't) add another couple thousand onto the "base price". Or, builders will tell you that air conditioning is "included"...but the "base price" is obviously higher.

Hint: If a builder says an item is "included", you are led to believe that it isn't costing you anything. Understand that no matter what, the price of that item is already in your home price, so you ARE paying for it.

It is a Buyer's Market here in Minneapolis, St Paul, and the surrounding areas. We knew this walking in and used it to our advantage. In the first series post, I told you we had narrowed our choices down to two local Minneapolis builders. Who did we pick? Well, I feel that the professional thing to do in not mention location, or the builder's name. This is, afterall, just a documentary of our building experience and not meant to put anyone under the microscope.

What it came down to, was who gave the most for the price. The builder who we offered a price to, and who in turn, countered us back, was by far our favorite. The floor plan was great and we were able to customize it to work for our family. It sat on half an acre and an office on the main floor. What it didn't include was a finished basement, hardwood floors, granite countertops, or a deck.

The second builder, who doesn't really customize much of the home, had a smaller lot (.20 acres). The laundry is next to the kitchen and there is not room for an office on the main floor. But for the price, we were able to have exotic wood floors, a deck, a finished basement, Cambria countertops, and have them finish a huge storage room in the basement which we could make into a nice office. We were able to get all of this, for the same price as the before mentioned.

Even though we weren't as thrilled with the footprint of the home and the smaller lot, we would have been stupid to walk away from this deal. Not only were they throwing in a lot of things we wanted, we successfully negotiated for them to pay a large chunk of our closing costs. Oh, and I shouldn't forget the $5000 we are getting for landscaping!

So there you have it, we picked our builder by looking at incentives and available amenities. Like always, the decision came down to PRICE.

Next week I will show you pictures of the lot, so stay tuned for more!

Monday, September 3, 2007

Liquid Freeway

Most people forget that the Mississippi River carries alot of product between itself and up to the Minnesota River and the St Croix River. Barges are a daily part of life on the Mississippi. They equally share the water with boaters and fisherman. It just sucks to get caught at a lock for a couple of hours, waiting for a barge to get through. This barge was carrying what looked to be petroleum, but I have also seen barges carrying coal and iron ore from Northern Minnesota. It makes you feel like a kid again when you stare in awe at their size. Being a barge captain has to require a LOT of patience.

Saturday, September 1, 2007

Minneapolis Historic Home Market Update - August 2007

This month I thought I would do a breakdown of Historic Home activity for the Minneapolis area. There are so many beautiful properties that have aged gracefully over the years, how can you not love them! All statistics are for homes built prior to 1920 and located only in Minneapolis.

$400,000-600,000 : The most active price bracket I researched, with 35 active listings and 8 pending homes. The most homes have also sold in 2007 in this bracket, currently at 62.

$600,000-800,000 : Currently there are almost the same amount of active and pendings (17), as there are solds for 2007 (19).

$800,000- $1 Million : So far this year, not too many homes have been listed in this price range, compared to others. Currently there are 8 active homes for sale, 4 pending, and 8 solds.

$1 Million - 3 Million : Surprisingly, those homes priced above $1 Million are selling very well in 2007. With 21 homes selling and 20 active, it appears to be a good price range to sell.

$3 Million + : Ok, so not too many historic homes sell for above $3 Million, but there are currently four homes for sale in this price range. The most expensive is priced at $5,750,000! No homes above three Million have sold so far in 2007.