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The housing market has been making a lot of noise lately: conflicting opinions, contradictory facts, and plenty of negative hyperbole. The truth is, housing market conditions vary greatly by region. This site shares the other side of the story from local perspectives in real estate, personal finance, and economic forecasting, about what’s really happening in the Minneapolis-St. Paul housing market. You can also see what other recent homebuyers – and lookers - are saying on our blog and video posts. If you’re thinking of buying in Minneapolis-St. Paul, we invite you to participate, and get information to make the right choice for you.


What’s Your Guilty Pleasure?

Posted by wendy, on October 15, 2007 06:23

Sure a few extra bedrooms and a fenced in yard for Fido are important reasons to consider moving up in the real estate world. And yes, they’re noble, logical reasons - your mother would be so proud. But what about that jelly-for-knees feeling you get when you step inside your gourmet kitchen? Or the calm that washes over you when you saunter into your serene yoga room? Not to mention the pride you feel when your buddies stop by your sports bar to watch multiple sporting events on your four plasma television screens.

If your idea of luxury is a whirlpool tub in the master suite, think again. Today’s luxury homes are jam packed with amenities and features that homebuyers of a decade ago never even dreamed about. Forget your logical reasons for a moment. Indulge your imagination, and consider the luxurious justifications for buying a home.

To have and to hold - in separate rooms

His-and-her sinks in the bathroom have morphed into his-and-her bathrooms. Individual closets, dual dressing rooms and his-and-her living spaces also are increasingly common features in luxury properties. Whether it’s a yogalates/workout room for her or a cigar room for him, gender-specific rooms are all the rage with affluent homeowners.

He’ll spend his time shooting hoops in the indoor sport court, while she entertains friends in her sitting/reading room. He’ll relish quality paneling in his closet, while she’ll savor the climate-controlled fur storage and ball gown section in hers.

Everyday’s a spa day

Today’s luxury homes take relaxation to the max. Current must-haves include roomy bathrooms with souped-up saunas, towel warmers and heated floors to keep the tootsies toasty. The stress-relief bath is another important amenity. Spacious, multi-head steam or rain showers are gaining popularity, while the newest bathtubs are illuminated with LED lights – and you can change the light color according to your mood. The appearance of upholstered furniture is making bathrooms more like home-spas as well.

Facilities for fitness and physical recreation also are expected. Expanded exercise space often includes various separate workout rooms, indoor lap pools, and sport courts. And don’t forget the locker room!

Technology lends a helping hand

Technology is the new personal assistant. Want to turn down the pool lighting while you’re cooking dinner? Go ahead. How about starting the bath from the living room? Sure, no problem. Homeowners are outfitting their residences with complex computer systems that connect electrical components to sensor panels throughout the house.

There’s an increased security element to the technology as well. The automated system can send text messages to a phone when sensors detect outdoor movement. The homeowner can hop online to look at surveillance cameras monitoring the front and back yards.

Other features include storm rooms for hurricane and tornado protection, fire protection systems and walk-in safes for valuables and files. Power generators, stone-coated steel roofing and the use of flood-preventing landscape design can help keep homes safe from the elements.

It’s easy being green

“Green building” and “healthy homes” are popular buzzwords in today’s building industry. Elite homeowners are searching for a place that’s gentler on the environment and made from healthy home materials that optimizes energy efficiency and indoor environmental quality and comfort.

“Green” elements such as eco-friendly woods and nontoxic building materials are incorporated into construction. Green flooring products like bamboo and cork are entering the picture. And affluent homeowners also are demanding environmentally-friendly kitchen materials including glass and metal instead of plastic, and chemical-free glues.

Homeowners want energy management systems that are environmentally-friendly and save on energy costs. Tankless hot water heaters, geothermal heating/cooling systems and automated lighting controls are all popular options.

The great indoor-outdoors

Outdoor rooms have been popular for the past few years, and today their chic-factor continues to rise. Outdoor rooms complement the idea of eco-friendly building by allowing for indoor/outdoor living.

Recently, many luxury homeowners have added summer kitchens, fireplaces and stone barbecue grills to their backyard oases. The outdoor kitchen and cabana area offers all the comforts of indoor cooking - an elaborate stainless-steel grill, granite countertops, sink, refrigerator, warming drawer, wine cooler and ice maker.

And inside is starting to feel like outside. Floor-to-ceiling glass windows that completely open to the outside create a beautiful indoor/outdoor living space.

And let’s not forget outdoor activities. Homeowners no longer want to stay cooped up inside and have rediscovered gardening. Multiple gardens, potting sheds, and garden accessories are more important than ever.

So, in your own dream home vision, what are some of your guilty pleasures?

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October 19. 2007 03:10

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The dedicated home office has become one of the biggest guilty pleasures for professionals who spend a good amount of their week out of the regular workplace. Working from home has moved beyond just a little wish to a very tangible reality for most. In-home offices can consist of as little as a space apart from the rest of the house or an entire dedicated closed-off area with enough room for a desk, computer, internet connection, business phone line, fax system and built-in storage.

James Svoboda

October 19. 2007 09:05

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We've turned our lower level into an exercise room and entertainment center. We don't feel guilty but do derive a lot of pleasure (and feeling good) from our addition!
JS

JS

July 30. 2008 12:30

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How much is your home worth? Well, it all depends where you live.

The real estate market is still shaking. New data suggests that home prices have hit a new record low. In every new study that comes out, homeowners from Miami, to Las Vegas, Phoenix and Los Angeles, have seen their home value go lower every time.
Is that disappointing? Of course it is.
Should we sell? Is not a good time.
Should we stick to it? Yes, if you can.
Have we hit bottom? Nobody knows.

Banks are facing their worst foreclosure crisis.
Don’t take me wrong, it’s good if you are in the market to buy a home for yourself or if you are an investor, but if you are not, and you own a home, most likely the value of your property is down at least 15 %.

Why do banks care if you are loosing your home? By having to sell repossessed homes, banks have to literally slash their prices down. It gets very costly for them, after all, they have to pay property taxes, maintenance costs, and whatever utilities that need to be paid, all of this expenses for a house that it’s just sitting there, vacant, and the bank is getting nothing in return.

The latest study by the S&P/Case-Shiller Home Price Index of 20 cities, revealed the news that for 22 consecutive months home prices dropped. Only from April to May, 2009 the decline was of 0.9 %

yanni raz

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September 6. 2008 13:15

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