• Skip to main content
  • Skip to header right navigation
  • Skip to after header navigation
  • Skip to site footer
Zuzek Pope Home & Land Specialists

Zuzek Pope Home & Land Specialists

Minnesota Real Estate

  • David    (651) 249-7150
  • Patty    (651) 208-8051
  •  Login
  • Register
  • Home
  • Buyers
  • Sellers
  • Residential
  • Land/Farm
    • View Listings
    • Land Investment
    • Property Valuation
  • Communities
    • Apple Valley
    • Bloomington
    • Burnsville
    • Eagan
    • Farmington
    • Hastings
    • Inver Grove Heights
    • Lakeville
    • Richfield
    • Rosemount
    • Savage
    • Shakopee
    • Western Wisconsin
  • About
  • Contact
  • Blog & News
  • Testimonials

March 2021 Newsletter

March 17, 2021 by Patty Zuzek
News Letter March 2021

RESIDENTIAL:  Where or where are the buyers coming from?  That is a question David, and I are asked nearly daily.  One place they are coming from is literally their parents’ basements.  We have heard from many that they have been able to save money while living at home, pay off debt, settling into careers, and are now ready to purchase a home with exceptionally low interest rates.  With COVID-19 changing the way people prioritize their living locations and use of their home we are seeing many buyers shift their ideal location to be just a bit further out from the metropolitan area giving the buyers peace and space for their specific use and enjoyment of their homes.         

DEEPER DIVE: According to the Mortgage Bankers Association (MBA), equity among homeowners has reached a record level.  We are seeing the highest year-over-year growth since 2005 with an increase of 11% in November of 2020.  The MBA anticipates high prices and low inventory to continue this trajectory into 2021.  New home construction is the key to slowing the record pace of home prices.  As stated in a recent interview David Siegal with Housing First Minnesota, he stated, “We are only building about 65% of the homes necessary to supply our market, and those homes are being predominantly built at mid-level and higher price points.”  The availability of lots, supply chain and limited work force has restricted home builders in the MN & Western WI marketplace which is limiting their growth of homes being built.  We have heard from several builders that they are one year out to completion of a new build.  The builder we represent, Fieldstone Family Homes, has been able to maintain the building to completion time within 120 days from dig.  This is great news for the buyers with which we are working.

LAND: Spring is coming, and farmers are preparing for the planning season. Investors continue their interest in purchasing various types of land. Developers continue to look for land to build housing. Developers see, know, and understand that there are many more buyers for homes than there are homes for sale. Finding properties that can be developed quickly with ability to keep costs down is key. Hunting and recreation land continues to see high demand. Prices for tillable farmland have generally been in the $5,500 to $10,000 per acre range. Location has been the largest variable in determining the price of farmland.  Hunting and recreational land has increased to $4,500 to $7,000 per acre in many areas around the southern metro area. Then there are buildable country properties that continue to be in exceedingly high demand.

Area Grain Prices per Bushel – February 26, 2021:

AreaCornSoybeans
Le Sueur, MN$5.18$13.57
Janesville, MN$5.15$13.38
Randolph, MN$5.18$13.39
Lansing, MN $5.20$13.39
Red Wing, MNNo Bids… River ClosedNo Bids… River Closed

If there are questions, always feel you can reach out to us.  We are here to help. Thank you!!

Download the Newsletter
Category: Newsletters
Previous Post: ← February 2021 Newsletter
Next Post: April 2021 Newsletter →

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

801 Cliff Road East, Ste #135
Burnsville, MN 55337

(651) 249-7150 David Pope
(651) 208-8051 Patty Zuzek

Our Communities

  • Apple Valley
  • Bloomington
  • Burnsville
  • Eagan
  • Farmington
  • Hastings
  • Inver Grove Heights
  • Lakeville
  • Richfield
  • Rosemount
  • Savage
  • Shakopee
  • Western Wisconsin

Online Design Services

Learn More

Recent News

Your Twin Cities Seniors Real Estate Specialist®

It’s a family affair. That statement has never been more accurate when dealing with the families of …
Read moreYour Twin Cities Seniors Real Estate Specialist®

April 2021 Newsletter

RESIDENTIAL:  April showers, brings May flowers.  Surprising to many, landscaping can have an impact …
Read moreApril 2021 Newsletter
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Fieldstone Real Estate Specialists are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2021 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.

Digital Millennium Copyright Act (DMCA) Notices: The Digital Millennium Copyright Act of 1998, 17 U.S.C. 512 (the "DMCA"), provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices and counter-notices should be sent in writing by mail to: Michael Bisping, Director of Customer Relations at Regional Multiple Listing Service of Minnesota, Inc., 2550 University Avenue West, Suite 259S, Saint Paul, MN 55114 or by email to mbisping@northstarmls.com.

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and e-mail address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner's behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Listing Data last updated: 17th April, 2021 07:00 MST
Privacy Policy
Service by Buying Buddy® IDX CRM

Copyright © 2021 Zuzek Pope Home & Land Specialists. All Rights Reserved. Website Design by Flying Orange.