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Whether you are living in Minneapolis, St. Paul, Elk River, Plymouth or anywhere in the Twin Cities metro I can find you the answers to your real estate questions. Get the latest on the Homeowners Tax Credit or get your home's current market value! I use facebook to interact with my clients and fans in real time - no question is too small to ask! Become a Fan!

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CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Property Values - Determining Market Value

If you're like me you recently got you 2010 Property Tax statement and thought to yourself - "I thought my home value declined, but the county says it one price and my agent says it's another?" So what does this mean? Below is how property values are determined in Sherburne County and what exactly goes into determining the market value for your home. But always remember your true home values isn't its tax value but more what someone is willing to pay for it.

Property Values - Determining Market Value

State law requires that the value and classification of real estate be established as of January 2 each year. All good sales and transactions of property are reviewed annually through statistical analysis to make determinations about market conditions and adjustments that are required to meet the Minnesota Department of Revenue guidelines for equalization.

The valuation process includes the following:

Sales analysis and review

A review and analysis of all good sales for every property classification and jurisdiction is performed.

Gathers information

The appraiser gathers information on all physical characteristics of the property that affect market value, such as size, age, quality, basement finish and extra features, such as fireplaces, extra baths, walkouts, etc.

Views property

Appraisal staff has been assigned a quartile review to meet the state requirements of viewing properties approximately every fifth year. In addition, all new construction, alterations or improvements that contribute to market value will be viewed in the appropriate year.

Estimates value

All physical property characteristics are entered into a computerized system which creates a model to value the properties and is driven by actual sales. The market values estimated by the assessor should be at, or very close to, the amount the property would sell for if placed on the open market as required by Minnesota Statutes. The State Board of Equalization reviews our annual assessment and had standards requiring the overall level of assessment to be between 90% and 105% of market value. The State Board of Equalization does and will make adjustments to our annual assessment to ensure compliance with this policy.

Notification

A Value Notice is mailed in the spring to each property owner. The assessment on January 2 forms the basis for the following year's tax. That is, the value and classification on January 2, 2010, is used to calculate the tax payable in 2011.

For more information contact the Sherburne County Assessor office at (763) 241-2880 or visit their website by clicking here

Sherburne County consist of the cities of Elk River, Big Lake, Becker, Clear Lake, Princeton, St. Cloud and Zimmerman.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Twin Cities Market Activity Report - WE 1/25

Weekly Market Activity Report

provided by MAAR

Activity continues to pick up in the Twin Cities housing market as sellers and buyers bid a sad farewell to the Viking's football season and the dormant holiday market begins to thaw. New listings, sales and inventory are steadily increasing as we prepare for the spring selling season.

For the week ending January 16 there were 571 signed purchase
agreements, up 4.0 percent from a year ago. That's only the second week of year-over-year increase in the last nine. New listings were 8.3 percent higher than a year ago at 1,668, and the total inventory of homes available for sale currently sits at 20,459, down 18.9 percent from last year at this time.

With an extreme shortage of inventory in some of the lower price ranges, new listings may be welcome in that segment for the first time in several years. In the upper price ranges, sales activity is still declining and new sellers face a tougher market.

Visit ElkRiverHomes.com for the lastest listings for Elk River, Big Lake, Otsego, Ramsey, Rogers, St. Michael and Zimmerman.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Elk River Arena Open to Walkers!

Elk River Arena Open to Walkers!

Even though it is Winter that doesn't mean you can't get out there and stay fit! Get off the sofa and take a walk around the Elk River Arena.

The track is open seven days a week from 8 a.m. to 8 p.m. for walking, unless there is a event going on such as a high school hockey game. There’s also a Breakfast Club for walking and skating that meets from 8 to 10 a.m. Mondays, Wednesdays and Fridays. The Arena provides coffee and participants bring sweets. For more information, call 763-635-1145.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Winterfest - February 6th (Zimmerman)

Winterfest - February 6th

Winterfest will be held at the Sherburne National Wildlife Refuge Old School House in Zimmerman from 10am to 3pm.

Bring the family for a fun day of winter actvities that include snowshoeing, a sleigh ride, a live owl program, exhibits and food. Call the Refuge Office at (763) 389-3323 for more details.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Elk River Residential Properties - Inspections & Licensing

Elk River Residential Rental Properties - Inspections & Licensing

Starting in 2010, the City of Elk River will now require all residential rental properties within city limits to be inspected and licensed. There will be no fees charged for these inspections and licenses in 2010. The expectation will be to follow the adopted Fee Schedule for the 2011 license and inspection fees.

The City of Elk River Building Department will be administering this program for all single family homes, twin-homes and townhouses while the Elk River Fire Department will continue to inspect all apartment buildings in Elk River.

If you have any questions visit the City of Elk River website

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

4th Annual Elk River Energy Expo - Feb. 27th

The 4th Annual Energy Expo will be held on Saturday, February 27, 2010 from 11 a.m.-3 p.m. at the Elk River High School. Exhibitors regarding sustainable living practices and energy conservation will be available to answer questions. New children's activities will be available and Tricia and the Toonies will be performing in the afternoon.

For more information about the Energy Expo or if you are interested in sponserships or being an exhibitor click here

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com

Twin Cities Weekly Market Activity Report - WE 1/19

Twin Cities Weekly Market Activity Report - WE 1/19
provided by MAAR

Weekly Market Activity Report

The first full week of reporting for the Twin Cities housing market is

in and while there are a few "green shoots," it's becoming clear so far
that the market won't see the same spectacular growth in sales it saw
at the beginning of 2009.

There were 520 pending sales for the week ending January 9, down
1.7 percent from the same week in 2009. That's the seventh week of
the last nine to see fewer sales than the prior year, a time period that
coincides closely with the initial expiration date of the first-time

home buyer tax credit. However, we’re still 21.2 percent higher than

the pace in 2008 for that period.

As you likely know, the credit's been expanded to include a $6,500
incentive for buyers who have owned a home for five years of the

last eight. Since we can safely assume that many of these buyers will

need to sell their home first before buying a new one and receiving

the credit, we can look to our new listings numbers to see how much

effect the new credit is having. So far, it doesn't appear to be much.

Over the last three months, the number of new listings has been 11.7
percent behind the same period one year prior. With many looking for
continued "seedlings" of hope in the local housing market, this isn't
welcome news. As always, we'll be keeping a close eye on things and
reporting back what we see.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ElkRiverHomes.com