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Home Value Trends in Minnesota

If you're still hearing real estate expertsmain sections, each offering it's own unique
whining and moaning about the state of theattractions. The Northwest/Central area has
market, the bursting of the bubble, or thethe largest lakes, prairies and bogs, it is
plummeting of home value averages, just tunethe source of the Mississippi River and the
them out. Sure, nationally, the market isn'tis the home of the legend of Paul Bunyon, the
the booming money tree is was 3 years ago,famous bigger than life lumberjack. There
but that does not mean it's dead either.are plenty of resorts to stay in with
Besides, knowing how long homes are stayinggolfing, music and theater, museums and
on the market nationwide or the median homehistorical sites readily available. The
value of the nation (it was $221,900 in 2006)Northeast region is the scene of many lakes,
isn't going to help you much when you'retumbling rivers and lush forests, perfect for
ready  to  move.the outdoor recreations mentioned earlier.
The Southern portion of Minnesota is all
Real estate is an investment, so make sureabout scenic valleys, wooded bluffs and
you're moving somewhere your home value ispeaceful prairies. Numerous historic sites
likely to appreciate decently over the years.honoring Dakota Indians and the pioneers
But if you're like me, you probably can'talike are spread throughout the area, as are
tell the future, so how are you supposed toantique shops, historic architecture and
figure that one out? Simple: good, oldethnic  festivals.
fashioned research. Research the past home
value and rate of sale trends in a specificLast but not least is the Metro area, the
area, as well as its population, jobhome of the Twin Cities, where hip, urban
opportunities, economy, unemployment ratesMinneapolis meets gentrified, historical St.
and the attractions it holds to visitors.Paul. A wide spectrum of metropolitan
Those various factors can give you a fairexperiences is the result, including, but not
idea of where home values in a given area maylimited to: art, history and science museums,
be  headed  over  the  years.stage performances, zoos, family-friendly
entertainment, shopping, a live music scene,
Minnesota, home of the Twin Cities (one ofdining, clubbing, bar hopping and theater.
which, St. Paul, is the capital city) has aThe area combines urban comforts with a
population of about 5,167,101. Their economybeautiful natural setting including lakes,
is based on agricultural products such as:rivers, parks and trees. With so much to do,
dairy, corn, cattle, soybeans, hogs, wheatand a large metropolitan area, it's a fair
and turkeys and on industrial sectors such asbet to say home value prices, at least in the
machinery, food processing, printing andmetro  area,  are  constantly  on  the  rise.
publishing, fabricated metal products,
electric equipment, mining and tourism. WithMinnesota also has middle to low unemployment
a large population and a strong economy, it'srate, staying steady at about 4.6% over the
obvious Minnesota is a favorable spot topast couple months, with a rise in jobs in
live, which usually means high home valuetrade, transportation and utilities and
averages and faster sales. Of course, theeducation and health services. Government,
tourism factor and attractions an area has toconstruction and manufacturing jobs seem to
offer can have a big impact on the amount ofhave slipped somewhat. The median household
new  residents  drawn  in  as  well.income was about $52,024, higher than the
national median and the median home value
Minnesota has tons of state parks for outdoorsales price in 2006 was about $235,000. The
adventures such as camping, hiking, fishing,median home value in April 2007 was $260,
biking, boating, landscape and wildlife277.
viewing, etc. The state can be broken into 4



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