I recently got a question on Trulia from a prospective buyer who is moving to our fair state this August.  She informed me that they were relocating here for a short period of time (4 Yrs) and wanted to buy in an area where the home they purchase would at least maintain its value over that time, or even (god forbid) appreciate a little bit.

My first instinct was to tell her to buy in Southwest Minneapolis or Edina.  Turns out my instincts were correct, but I wanted to back it up with facts and data.

Going back 7 years, below is the average sales price for Edina, MN.

           YEAR              AVG Sales Price

1. 2008                 $528,724
2. 2007                 $490,257
3. 2006                 $502,437
4. 2005                 $450,131
5. 2004                 $402,321
6. 2003                 $396,287
7. 2002                 $353,081

The % change from 2007 to 2008 was an increase of 7.8% and from 2002 to 2008 Edina’s Average Sales Prices went up 49% making Edina the best performing community in the Minneapolis Metro Area…for sustaining consistent appreciation.

NOTE:  I researched this information on the Minneapolis Area Association of Realtors Website: www.mplsrealtor.com and to see the full report - click here historical-average-mpls.pdf

And, while the homes are more expensive - it is a safe bet, that you can buy a home in Edina, and not lose.  (Most of the time.  There are always exceptions for every rule.)

But - if you are in the market to buy in Edina - then you can see a complete list of active homes  by clicking here.

Now more than ever, it makes sense to live close to the University of Minnesota!

In recent years, the Office of University Relations and the Relocation Assistance Program have partnered to support the initiative, “Living Close to the U.” This program encourages University employees to explore the benefits of living close to the Twin Cities campus. While some of the benefits are obvious–saving transportation costs and commuting time–others may be more intrinsic–being located in the heart of the Twin Cities and experiencing the rich diversity of the metropolitan area and the small-town feel of local communities and neighborhoods.

University employees who have chosen to live close to the U know of these benefits first-hand. Calder Hibbard, Minnesota Forest Resources Council, says, “There are lots of reasons why my wife, children, and I love living near campus. One is that we can be a one-car family. It saves us thousands of dollars a year, and we get the satisfaction of living in an environmentally sensible way. The transit service in this part of the city works really well for us.”

Mike Ramolae, Parking and Transportation Services, says, “My neighborhood (Marcy Holmes) is close to everything. I can walk to east Hennepin, Dinkytown, and downtown. I live close to where I work, and my time is valuable. I don’t want to spend it commuting.”

University financial help

In the face of the current housing crisis, the U of M is stepping up its efforts to assist U employees by offering an incentive program to home buyers. The University District Home Buyer Incentive Program is designed for University employees seeking to purchase a home in one of the University District neighborhoods. These neighborhoods include: Cedar Riverside/West Bank, Marcy Holmes, Prospect Park East River Road, and Southeast Como. This program was developed through a partnership among the University, the City of Minneapolis, and the West Bank, Marcy Holmes, South East Como, and Prospect Park East River Road neighborhood associations.

To be launched on January 1, 2009, the Home Buyer Incentive Program provides down payment or closing cost assistance through a $10,000 two-percent interest loan that requires no monthly payments and is forgivable over five years. 

The incentive program is available to any eligible University employee buying a home in the University District and planning to live in the home as an owner occupant and who also qualifies or is receiving a traditional (prime or A-rated) fixed-rate first mortgage loan or who is making the purchase by cash.

Terms

The loan program is subject to the following terms:

1. Two-percent interest

2. No monthly payment

3. The loan will be forgiven over a five year time period from the date of closing, with forgiveness occurring at a rate of 20 percent each year on the anniversary of the closing date.

4. The loan is due on sale, transfer of title, when the primary mortgage is paid off, or when the property ceases to be the owner’s primary place of residence, except that in the case of a refinance, the loan may be subordinated subject to the Subordination Policy in effect at the time of the request for subordination.

5. These loans are considered a “Special Mortgage” under the terms of Minnesota Statute 58.13. The mortgage may be subordinated as part of a refinance of the primary loan; however, the owner must receive counseling regarding their refinance transaction. Proof of the completion of the counseling will be required prior to approval of the subordination in a refinancing.

6. Borrowers will agree to a ‘right of first offer and refusal’ which requires the borrower to offer the home to the entity who holds the lien on the property, should they decide to sell. If the lien holder cannot offer a price satisfactory to the owners, they may sell through conventional channels.

For more information on eligibility or other details of the University District Home Buyer Incentive Program, see Relocation Assistance Program.

For more detail on the loan program terms/guidelines click University of MN Home Buyer Incentive Loan Guidelines 

For detailed information about the neighborhoods surrounding the University of Minnesota (Southeast Como, Prospect Park, Marcy Holmes, East River Road, West Bank & Cedar Riverside) visit the Program Assistance Home Page.

If you have additional questions or would like to complete a loan application, contact the Greater Metropolitan Housing Corporation Housing Resource Center, at 612-378-7985.

For information about the University District Alliance, see Alliance.

For further information, contact: Jan Morlock, director of Community Relations, University Relations.Mary Everley, director of the Relocation Assistance Program, Office of Human Resources.Deborah Stull Kinsley, communication project manager, Office of Human Resources.

The Twin Cities is blessed with some great places to eat and I thought it would be fun to showcase a few breakfast places.

South Minneapolis: Remember the old Sweet Lorraine’s on 38th Street (at 24th Ave) off Hennepin? It was a classic diner and wasn’t particularly known for great eats - more of a place to fill up and go. Well, now the chef who made The Sample Room a name in northeast, Minneapolis has swepted out Lorraine with the Citizen Cafe. It serves lunch and dinner, but I’ve only been there for breakfast. The decor is hip and before your meal arrives they bring you a few samples of their sweet breads to enjoy with their tasty coffee.

I expected to pay big for the nice atmosphere and little treats, but am pleased to say it was very reasonably priced. So next your visit to South Minneapolis, perhaps browsing for homes in this neighborhood, get a bite at the Citizen.

St.Paul: Hidden in an office building on University is the sweet restaurant, The Egg & I. It’s not fancy, but the food is consistently good and it’s one of the only places I know where you can get buckwheat pancakes and a Spinach Eggs Benedict dish. Here’s the MLS hits for this area.

If you’re looking for something a little more quirky, hip and interesting in St. Paul than go for the Day by Day Cafe. It employs folks who are on the recovery path from addiction and I’ve always had delightful service there. Things that are pretty amazing there are the caramel rolls, the huevos rancheros and any omelet. Summer time is particularly fun because the backyard patio is beautiful. Here’s the MLS hits around Day by Day which includes some really sweet St. Paul neighborhoods.

It’s hard to imagine a more idyllic location than Linden Hills. Located in southwest Minneapolis, the neighborhood runs around our urban lakes from Lake Calhoun and Lake Harriet encompassing some of the most lively areas in the Twin Cities.

The area was developed in the late 1800’s back when it was still a vacation spot. Slowly the area enticed Minneapolis downtowners to live where they loved to visit and was a village of simple cottages. Most of the original cottages have been replaced by large bungalows and Tudors.

The present day business district is every bit as sweet as the old-tymey cottages. The vibrant streets are lined with delightful gift stores like the Bibelot Shop, but also offers stables like Clancey’s Meat and Fish and groceries from Linden Hills Co-op. The kiddie set all know the children’s bookstore, Wild Rumpus, famous for their fun story hours, whimsical architect and live animals to love.

Steeped in history, there is a 116-page book on the subject of Linden Hills history that goes back when stripped bathing wear was in style called “Down by the Lake: a Historical portrait of Linden Hills and the Lake Harriet District.”  The Linden Hills History Study Group can hook you up with a book as well as a walking tour and more.

Residents can walk to urban lakes Harriet and Calhoun for sailing classes, a quick trip on the trolley and to enjoy the city’s Rose and Peace Gardens. Concerts are performed several evening a week at the Lake Harriet band shell during the warmer months.

Combine that with charming housing stock and acclaimed schools and no wonder why this is a coveted address. It’s a neighborhood that Mr. Rogers would be proud of. You can shop for homes in this Minneapolis area here.

Walking just west of downtown St. Paul is one of my favorite Twin Cities locations  -  Cathedral Hill (technically named Ramsey Hill). It can make you feel like you’ve stumbled into a 19th century novel. Brownstone row houses and ivy-covered Victorian homes share the skyline with the majestic Cathedral of St. Paul. Simply put, it’s gorgeous.

Having once sheltered the likes of F. Scott Fitzgerald and Sinclair Lewis, you can half hope residents to emerge from their historic flats wearing newsboy hats - from when they were in style the first time. But don’t mistake bookish with sleepy; this literary Mecca is a happening place given its crush of shops, restaurants and a large food co-op, the Mississippi Market.

You can walk from Nina’s coffeeshop (impress the locals by saying “Ni-naya”) in the historic Blair Arcade and down the stairs to Garrison Keillor’s bookstore, Common Good Books. (Whenever I have a story I’m having trouble writing, I end up a Nina’s just to change things up a bit.)

Cross the street and feel you’ve arrived on a different continent when you enter the restaurant, Moscow on the Hill, where there’s a full menu page devoted entirely to vodka and the best borscht I ever had (hey, don’t knock beet soup until you’ve tried it).

Then watch the curling stones collide at the Saint Paul Curling Club with a post ice-time beer at WA Frost’s – all within three memorable blocks.

But it wasn’t always this nice. The intersection of Selby/Dale used to have a rough reputation. But the turn-around of the formerly aristocratic community started in the 70’s and 80’s. People with little money and a strong back worked very hard to make homes better.  These were urban pioneers who bought property for $10, $15 thousand dollars and put in sweat equity.

President of the Selby Business Association and owner of Great Harvest Bread Company, Bonnie Alton said the area really got a firm footing on its most infamous intersection in the mid-nineties. “Mississippi Market Co-op anchored Selby and Dale when they constructed their building and brought in their store.”  The association now hosts an annual Selby Celebration: a Patio and Dance Party.  “Very courageous, far sighted people made this possible.  I really couldn’t see this event happening [10 years ago].”

St. Paul is lucky it did happen. You can start your search for your own little piece of history with Webdigs right here.

Edina was in the news this weekend. And the story did nothing to dissuade people that Edina isn’t the stuffy suburb everyone thinks it is. The article reported on a stern email sent from the city to residents whose children were suspected of …putting handprints in the fresh concrete sidewalk. Yes, young vandals were tagging their territories with hand prints, ages and dates.

But on the upside, you can see how all over issues Edina can be. If you’re in the market for an upscale culture of excellence, the City of Edina is a must-see. It starts with its location– just southwest of Minneapolis- and adjacent to two major highways that allow residents easy access to big city benefits while surrounded by high-end suburban amenities.
Overwhelmingly populated by older, tastefully updated homes, “Old Edina” is a sought after location near the commercial Mecca of 50th and France. The draw is boutique shopping, established eateries like the venerable Convention Grill (where one of the best burgers in the Twin Cities awaits in this retro diner) and the juried art fair held on the intersection the last weekend in May.

There has been some controversy as small 50’s bungalows are purchased only to be knocked down and replaced with larger McMansiony type homes just up the legal property allowances. Neighbors are fighting back. Here is an recent article in the national magazine Preservation about Edina’s plight.

But when most people think Edina, it’s all about top-notch education. It’s frequently found in Newsweek’s top 100 public high schools list. Whether it’s the District’s French Immersion School, 100% high school graduation rate or intensely competitive youth sports program recognized in Sports Illustrated, Edina shuns mediocrity.

While outsiders are quick to associate the area with economic status, Edina’s wealth of public green space shouldn’t be overlooked. Residents have unparalleled urban access to 44 parks and a litany of recreation centers.

If you’re looking for a sure bet, you may find your new address in this classy first-ring ‘burb.

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Late August tends to be about running away to the lake before the school bell tolls. And if you’re thinking water, you’re thinking west metro.

The City of Mound is named for its Native American burial grounds and better known for creating the Tonka toy trucks - but really, Mound is all about the lake. Nearly islanded by Lake Minnetonka, 40% of Mound’s city limits are water. In fact, residents usually refer to a neighborhood by its relationship to the water as in, “They live over there between Black and Seton Lakes.”

While not as swanky as some of its better-known neighbors, such as Wayzata and Minnetonka, Mound has a smaller town feel with local events like July’s Spirit of the Lakes Festival. The parade momentarily empties the bar stools at Dailey’s Irish Pub on Commerce Street.

Home prices are relatively lower than other places on the big water, which seems like an especially good deal given its solidly ranked school system and nearly inescapable views.

But not being people to rest on their laurels, residents have been busy making Mound better. Several projects are underway including one that will reclaim a lost canal allowing boat traffic to reach the downtown district. Even more fore thinking is the new Mound Transit Center which eases the commute to the city with express bus access.

The Dakota Rail Regional Trail, another Three Rivers Park treasure, is now open through Mound and the completion of the entire Trail is very near done. Though it is not the only trail. The famous Andrews Sisters, spent most of their youthful summers growing up in Mound and the City has dedicated a portion of the Greenway to the Andrews Sisters which is now known as the Andrews Sisters Trail.

click photo to read plaque.

You can look at current properties on the Mound market here.

As the famous Uptown Art Fair (which attracts a crazy number of people - around 350,000) was this past weekend, I thought it would be a good time to profile the area.

Now Uptown is more a state of mind than an actual location on a map and everyone has a slightly different idea of where Uptown begins and ends. So I’ll share my interpretation of the boundaries and then you’ll send angry comments telling me how very wrong I am - at least, this is how it typically is when talking about the hipper than hip spot that is Uptown.

Uptown begins somewhere southwest of downtown at roughly the Franklin/Hennepin intersection. There the turn-of -the-century apartment buildings brush up against boutiques and trendy restaurants that announce you’re here. This is technically the Lowry Hill and Lowry Hill East neighborhoods of Minneapolis and possess a  neighborhood in the city vibe.  It’s a busy place, particularly because it includes what is arguably the most successful co-op in the nation, The Wedge.

If you jog just west of there, you’ll find yourself in the Kenwood ‘hood with it’s grand homes near or on Lake of the Isles and Cedar Lake. Think lovely older homes with large lots among the many green spaces, parks and trails that is Kenwood. These homes are mostly arts and crafts or the more palatial Mediterranean or colonial styles.

At the intersection of Hennepin and Lake is what I believe is the real meat and potatoes of the area - technically the East Isles neighborhood. Here you’ll find the avant garde theaters such as The Uptown showing current movies as well as art films and the Suburban World that offers vintage cartoon breakfast during the winter and fall months.

This spot also has food galore, including the “we’re too hip to even put a sign out” Chino Latino and Lucia’s - well known for its organic menu. Not far from there is St. Sabrina’s for all your unmet tattooing/ piercing needs (I’ll own up to a belly button ring adventure there a decade or so ago).

But the place that I think IS Uptown is The Bryant Lake Bowl. It is an establishment where you can see live theatre, bowl a few strings and eat excellent food from burgers to tofu. That, my friends, is Uptown in a nutshell.

Of course, I can’t leave out the lakes, Lake Calhoun and Lake Harriet, as they’re the true stars of the show. Hundreds of people walk, run and rollerblade on the trails daily. There’s also a fantastic bandshell with loads of free concerts and a dock for fishing (I’ve taken my kids there and those fish are bad ass urban fish that steal your worms) and boats for rental. You can even sign-up for reasonably priced sailing lessons on the Minneapolis Park & Rec website. (I know, how cool is that?)

The architecture is eclectic like Uptown itself, but I can say that it’s mostly 20th century - some homes nearer the lake are actually “cottages” that people would go to to escape city life back in the day when the trolley get you out there. There is a pride of ownership in the area which may border on gentrified making it a historically safe investment.

In recent years houses have been snapped up pretty fast in this area - an for a pretty penny; however there are many brick apartment houses and clapboard duplexes if you’re willing to rent your little piece of Uptown until the right home comes on the market. You can start your search here.

You might have caught this article today in the Star Tribune. It’s about the private north suburb community of North Oaks requesting that Google Maps remove photos of their properties from its Street View function. By the way, it’s a really cool feature that allows you to see photos from various street addresses. If you haven’t played with it, I encourage you to give it a try. If you’re house hunting, it’s yet another way to burn innumerbal hours on-line searching for your next real estate quest.

The gist of the article is that North Oaks contends no one can enter to take photos of homes without trespassing on their private property - thus making any posted pictures ill-gotten goods. Google complied with their request and took down North Oak maps. But if you read the electronic comments left by readers on the Star Tribune website, it seems the general public are not with the good people of North Oaks. Comments range from calling residents paranoid to accusing them of class warfare.

This surprises me. I mean, it’s private property and the folks in North Oaks pay for all the roads and infrastructure themselves. It seems well within their rights.

When I wrote the Neighborhood Spotlight column for the Star Tribune a few years back, I had to stand on the street and take pictures of homes as examples of real estate in a given place. I hated doing it.

I used to tell my editor, Jim, that he’d have to bail me out or visit me in the hospital should I end up in an altercation over the practice. Luckily, I never did, but I know I ruffled some feathers and got some stare downs from residents. But I knew I had the law on my side with public road under my feet.

In the case of North Oaks, there is no public space from which to photograph from. And if North Oakians want to exercise their right to privacy, I see no reason why they shouldn’t. In a world with paparazzi stalking celebrities at every turn and nothing is too sacred to throw onto the World Wide Web, I find it refreshing for a group to decide to opt out of it all.

If you want to opt out as well, the Star Tribune kindly provided these instructions:

HOW TO TAKE YOUR HOME OFF STREET VIEW

• Go to maps.google.com.

• Enter any address and click on “street view.”

• Click on “street view help” in the image window.

• Click on “report inappropriate image.”

What’s your take?

The Midtown Farmer’s Market at Lake Street & Hiawatha (by the YWCA) is open every Saturday 8:00 a.m. - 1:00 am. In addition to offering local products, shoppers enjoy live music, library story time and demonstrations.

Let the Farmer’s Market begin! Markets are extremely popular in the city. I think because it combines our rabid passion for festivals, gardening and going green into one package.

The Midtown Market is a particularly deep shade of green given that it is the most accessible one in the city. It’s just steps from light rail and bus transit, the Green Way bicycle trail - and has a sizable parking lot for your Prius. And unlike many of the larger markets, the Midtown Market prides itself in offering truly local foods directly from growers - not wholesalers.

Responding to America’s cash-free society, this is the first twin city farmer’s market to take CREDIT CARDS and public assistance cards. It works by purchasing wooden tokens on your plastic at the info booth. These tokens work like cash throughout the market. Fun, huh?

I think my children would love paying with produce with wooden tokens, not to mention watching the sheep shearing and holding the piglets- and this is a good market to bring them to. It’s big enough to have what I need, but still intimate enough keep track of everyone. (My little guy has gotten lost in a crowd before and although it had a happy ending, it was frightening. He did exactly as we had role played. He found a mother with a lot of children -because no one is less likely to take a child than an overwhelmed parent- and he said, “My name is Mi-whoa and I’m loss-ed.”)

This whole Midtown neighborhood certainly deserves a post of its own. But I’ll mention that Light Rail has made the once idle areas of Greater Longfellow, Powderhorn and Midtown hot property again. This happens just as local investment on the west side of Hiawatha is starting to pay off.

If you haven’t been to Lake Street lately you may be surprised how fresh it’s looking thanks, in part, to the Lake Street renewal project. The decorative lighting, sidewalk trees, bike racks and places like the Midtown Exchange Building (think old Sears) and their Global Market have really spiffied up the area.

So check out the market, bring your own coffee mug for a discount (I used my shiny new Webdigs mug for a cool quarter off) and get yourself some wooden nickels. It’ll be summer before we know it.

Photos credits: I took the picture at the market myself. You get extra points if you find the light rain train on the bridge. But the cool image of the wooden coins is from the Midtown Market site which you can visit HERE.