Custom One Homes, Mattamy Homes and K Hovnanian homes in Stonemill Farms now meet or exceed Minnesota’s Green Path standards for energy efficiency, indoor environmental quality and water conservation. They also adhere to resource management features, such as using locally sourced lumber and materials, and to site and development standards designed to minimize disruption to the environment and preserve open space.

An important part of the HPR is the HERS, or Home Energy Rating System, index. Determined by independent, third-party tests conducted during construction, the HERS index has been compared to the MPG sticker on a new car.  A HERS index rating of 62, for example, means that a new home is 38% more energy efficient than a HERS reference home built to the current standard building code.

“We are very proud that three of our leading homebuilders in Stonemill Farms are now certified by Minnesota’s Green Path,” said Jennifer Taylor, vice president of marketing for Newland Communities. “Creating healthy living systems is one of Newland’s cornerstones for community development, and the energy efficiency of the new homes we offer is an important part of that.”

Taylor added that the Green Path certifications earned by these builders means that homebuyers will find state-of-the-art energy efficiency and green building technologies and practices in a wide variety of home styles and prices at Stonemill Farms.

Mattamy offers townhomes priced from the $180,000s to $200,000s in Stonemill Farms, while K. Hovnanian offers single-family homes from the $240,000s to $300,000s.  Custom One Homes offers custom homes priced from the $500,000s in the community.

A 700-acre master-planned community in Woodbury, Stonemill Farms devotes 75 acres to recreational amenities and open space, including unique signature amenities such as a 6,000-square-foot community center, an aquatic center, a hockey and skating rink, and miles of greenbelt trails.

For more information on Minnesota’s Green Path program, go to www.mngreenpath.org.

For a tour of this beautifully decorated and furnished model, please stop by during operating hours or call the Builder agent to schedule an appointment.

Derrick Custom Homes

Location, location, location is a lie, lie, lie.

The No. 1 rule of real estate — a good location — doesn't explain how developments can succeed or fail in the same location.   One project in Woodbury is a real-estate graveyard — with a single house standing like a tombstone overlooking acres of unplowed streets and bare lots.  Yet across Cottage Grove Drive is a housing dynamo known as Stonemill Farms. It boasts more than 600 homes and is working on its seventh addition.  The winners and losers in the Great Housing Crash are now apparent — side by side — across the suburbs. "It's an interesting phenomenon," said Marshall MacKay, president and chief executive of the Independent Community Bankers of Minnesota. The losers have been well publicized, he said, "but we are seeing winners emerging now, too."

Location doesn't explain the difference. Nor does the quality of houses.  Instead, winning is a matter of good timing, low prices, sales pitches and exploiting the psychology of recession-era homebuyers.  The losers are victims of too much debt and too little time.  As many as 100 home builders in the metro area have gone out of business, according to one of them — Joe Bonfe, former owner of the defunct Bonfe Home Builders.   "It was just terrible," said Bonfe, who saw banks take 20 of his properties, including one entire project in Woodbury. "I don't have anything. They took everything."  The mood is quite different for the winners. "The market over $500,000 is still slow, but we can't keep up with the market for $300,000 to $400,000," gushed Jennifer Snyder, president of the St. Paul Area Association of Realtors.

A LINE OF DOMINOES

One of Woodbury's biggest residential messes is Highland Knoll.  Work on the 29-home development started in 2005. It seemed like a sure thing — a ridge-top location offering excellent views, flanked by thriving developments.  Today, the developer is gone, leaving the city with a ghost town of vacant lots. A key problem in this case was timing.

"In 2000, it would have been a success and all built out. In 2005, it was a disaster," said Mike Rygh, owner of Custom One Homes, now building in Stonemill Farms.  When the housing market collapsed in 2008, it hit new neighborhoods the hardest.  That's because new developments are like a line of dominoes. The sale of the first few houses pays to build the next houses. If those sell, then the next are built, and so on.  And if the first ones don't sell? The entire development sits paralyzed. The problem is a quirk of human nature — people would rather follow than lead.

"You see it everywhere. That's why in a parking lot full of empty spots, you see people parking together," said the Realtor Association's Snyder.  No one wants to be the first to buy a home. Even in the best of times, the so-called "pioneers" must usually be given big discounts on their homes.  But the recession has broken the confidence of buyers — which makes the herd mentality even stronger.  "People are only human," Snyder said. "They go to where the action is and want to feel secure doing so."  And the action was not at Highland Knoll. No one wanted to go first.  "That development is not a community," said Snyder, who is familiar with the empty development. "People want to be part of something."

Highland Knoll lacked another advantage — amenities.  Stonemill Farms, like many large-scale developments, offers extras such as a clubhouse, a fitness room, swimming pools and a movie theater.  The neighborhood even has a new elementary school. But at Highland Knoll there are no amenities. In fact, there aren't even any trees.  "It looks desolate," Snyder said. "If you had a developer who knew what he was doing, you would see pine trees and a berm."

WHAT MAKES A WINNER

Another difference between winners and losers in housing developments is their relationships with real estate agents. Many developers ignore them and even argue about sales commissions when customers buy homes.  Not at Stonemill Farms. That development woos real estate agents, according to Shelly White, general manager of Stonemill developer Newland Communities. "We work hard at outreach with them. We appreciate them," White said. Real estate agents are critical to attract the relocating employees of 3M Co. and Ecolab, she said. Stonemill Farms’ home builders sometimes compensate real estate agents, White said, especially if the agents have to share commissions with a relocation firm.

Home builders, too, have learned how to adjust for the times. Winning communities have homes that fit with the new austerity. Builders are in a frenzy of trimming — both prices and square footage.  K. Hovnanian Homes, a national builder, has a four-bedroom model in Stonemill selling for $248,000 — about $100,000 less than the house would have fetched five years ago. Yards, too, are smaller, in lots 50 feet wide.  And the sales pitches illustrate a small-is-beautiful approach — and new scorn for "McMansions."  The flashy, overblown houses are full of wasted space, said K. Hovnanian construction and production manager Brandon Moe. "How many places do you need to eat? How many places do you need to sit?"

The sales force no longer emphasizes homes as investments.  "Those days are gone," said the Realtor Association's Snyder. "People want to go out to dinner. They want vacations. They don't want to be house-poor."  Marv McDaris agrees.  "We are getting back to the fundamentals. Housing is a place to raise a family. It's a place to create memories," said McDaris, division president of Pulte Group Inc., a national builder with homes in Stonemill. "It is not going to create wealth."

Above all, Stonemill Farms succeeds because it has momentum. "Activity breeds activity," said K. Hovnanian's Moe.

TIME WAS MONEY

Other lessons — and hope — can be taken from the death and rebirth of Hampden Woods.  Owner Bonfe bought the 2.6-acre lot on Tower Drive in Woodbury in 2003, planning to build four two-townhome buildings.  But three years were wasted, he said, in squabbling with the city over issues such as sewer hook-ups.  The cost to him? About $100,000 in legal fees and other expenses.  The delays killed the business, he said. He was able to build only one building in 2006, before the market imploded.  He sold six of his properties but still couldn't make payments. Banks confiscated his remaining 20 properties, and he closed down the business last year.  "It was heartbreaking," he said.

But the neighborhood has found a savior.  Steve Embretson bought the property in August 2009. Embretson, president of Baton Homes Inc. of Maple Grove, has built and sold a two-townhome building and is now working on the next one.  He is a winner, he says, because he was able to buy the property at today's prices — not the prices of 2006. His townhomes sell for $300,000 — about $100,000 less than the original units.  He has also survived, he said, by belt-tightening. He has had to cut back most of his employees — as well as his lifestyle.  Being a small builder is no longer about driving a Lexus to $100 lunches with clients.  "Now, today, I am moving model home furniture," Embretson said earlier this month.  "I used to have a staff. But today? Here I am, vacuuming floors and cleaning homes."

HOUSING TRENDS

To attract recession-era buyers, builders are featuring:

Less-expensive houses. Many builders are selling homes for $100,000 less than five years ago.
Smaller houses. "McMansions" are fading from the market as buyers seek smaller, practical homes.
Flex rooms. These are typically rooms by the front door that can be used as offices, dining rooms or dens.
Upstairs loft areas, usually at the top of a staircase. As an option, these can be converted into bedrooms.

Article source: Pioneer Press

Last decade's bipolar housing market is over. The ups, the downs, the thrills, the spills -- largely behind us. Yes, prices and sales are stuck in neutral in large swaths of the country.

But let's ring in the new decade optimistically, with Walletpop's Top 10 List of the Best Places to Buy a Home in 2011. This mostly unscientific and partially-biased list is based on a grab-bag of lifestyle priorities and, yes, thorough reporting.

Here we go, in no particular order:

1. Austin, Texas: Best All-Around City
Population: 799,267
Median home price: $119,788
Why here: Texas' capital and a great college town, Austin is beautiful and the 12th-most-affordable American metro area. Job growth from 2000 to 2010 was 14.1%, according to Trulia; unemployment currently is 7.1%, compared with 9.8% nationwide. The city's population is growing too. These positive indicators are expected to continue in the coming decade. Fortune 500 companies abound here; it's home to more than 2,000 tech companies. Home prices are reasonable for the $73,747 median family income and let's face it, nobody does BBQ better than Texas.

2. Deerfield Beach, Florida: Most Affordable Town with a View
Population: 74,584
Median home price: $89,400
Why here: There may be cities with lower median prices (not many), but I'm guessing you need a down coat to live there. This burg comes complete with year-round warm weather and beachfront properties that not too long ago cost a bundle ($400,000+). It's close to Fort Lauderdale and Miami, where residents can go for professional sports and cultural events.

3. Broomfield County, Colorado: Best Jobs
Population: 55,000
Median home price: $239,000
Why here: Jobs! It also doesn't hurt that the county is tucked between Denver and Boulder, so the scenery is nice too. Job growth in this area exploded 50% during the last decade. High-tech giants Oracle, Ball Corporation and VMware employ lots of folks, and IBM and Avaya are nearby. If you're college-educated, you're in good company: About 38% of the county's residents hold a bachelor's or higher degree, according to the Broomfield Economic Development Corporation. If you ski and hike, we're talkin' bliss!

4. Durham, NC: Best City to Retire In
Population: 223,284
Median home price: $178,700
Why here: Since we're talking about retiring, first on the list of pluses is Duke University's renowned medical center. Also, Duke's popular senior learning program offers 100 courses every term, on campus. So if golf's not your game, but mathematics is, there you go. If, however, golf is your game -- you've got that too. Plus Broadway hit shows, concerts and lots of places to hike. Home prices are a steal for what you get.

5. Woodbury, Minnesota: Best Place to Raise Kids
Population: 58,515
Median home price: $240,100
Median home price: There are so many great places to raise kids, but this suburb 10 miles from St. Paul has a lot going for it. Yes, winters are cold (not a small thing), but it's Minnesota -- we're talking thousands of lakes. Woodbury has 100 miles of trails for hiking and biking, and is a stone's throw from thousands of acres of parkland. The schools are great, including the Math & Science charter school. 3M employs multitudes, as does state government. What's not to like? OK, the winters. Deal with it.

6. Warner Robins, Georgia: Best Military Town For the Buck
Population: 53, 629
Median home price: $110,400
Why here: Located midway between Atlanta and Savannah, Warner Robins' housing affordability is the big draw. The median price of a home is $110,000, while the median family income is about $63,000. That leaves some extra dough to hit the local aviation museum, motor speedway and golf club. The city's main employer is the military (home of Robins Air Force Base), bringing engineers and employees from around the globe, so the population is eclectic. The city fared well during the recession.

7. Madison, Wisconsin: Best College Town
Population: 562,000
Median home price: $209,400
Why here: A gem of a city located between two lakes, Madison is where it's happening in the Midwest. Home of the state's capital, it's got a top-rated, Big 10 university (with all the sports and cultural events that come with it); affordable housing; tons of eateries and shopping; smart people; friendly atmosphere. You don't have to be a student or the parent of one to buy a home here. A neverending supply of renters keeps your investment solid. You may end up living here yourself.

8. Pocono Mountains, Pennsylvania: Best Vacation-Home Location For the Price
Population: 340,000 for the whole region
Median home price: $110,000 for Pocono Lake; prices vary throughout the region
Why here: Year-round playground, with skiing in winter, equestrian activities in spring, summertime sailing and hiking in autumn. You can get a two-bedroom home with 1,256 square feet for $99,999 in Mount Pocono; a three-bedroom cottage in 1,255 square feet is listed for $139,000 in Pocono Pines, according to HomeAwayRealEstate.com.

9. Portland, Oregon: Best City For Gen-Y
Population: 551,302
Median monthly rent: $1,200
Why here: It's green (literally and figuratively) and it's gorgeous. Rents are a bit higher, but some big companies pay well, such as Intel, Kaiser Foundation Health Plan, Legacy Health System, Fred Meyer Stores. The attitude is way-laid back and there are tons of venues for merry-making: music clubs, coffee shops and art galleries. When it's not raining, you can bike through the city, hike Mt. Hood and hit the zillions of hiking trails nearby.

10. San Francisco: Best City, Period, Price Be Damned
Population: 815,358
Median home price: $628,000
Why here: If you have to ask ... The Golden Gate Bridge, Golden Gate Park, the Bay, the hills, the views, the museums, street cars, cable cars, clubs, nightlife, architecture, coffee houses, bookstores for bibliophiles (City Lights, anyone?), hiking and biking everywhere, Tony Bennett (OK, just in your head), famous hotels and restaurants. Yes, it's foggy in summer, but who cares?

Sources, median home prices: trulia.com and zillow.com

Article source: Walletpop Website

A new report from Metrostudy notes solid progress for the Twin Cities housing market through the first nine months of 2010, and paints a cautiously optimistic outlook for 2011.
 
Key findings in the Metrostudy report include:
 
·      A 15% increase in new-home sales in the Twin Cities for the first nine months of 2010. The market should end the year with a 10-15% increase in new-home sales, Metrostudy projects.

·      The unemployment rate for the Twin Cities is below 7%, well below the national rate, and Minnesota has the nation’s sixth highest job growth rate.

·      Among the nation’s largest metro areas, the Twin Cities ranks 10th in consumer confidence, with a rate higher than the national average.

·      In the Case-Schiller Home Price Index, the Twin Cities ranks 5th among major metro areas with positive gains.


Sustainable economic and housing growth over the next 12 months will depend almost completely on steady job growth, the Metrostudy report noted, and the Twin Cities’ positive momentum bodes well for the coming year.
 
“Current year-to-date estimates indicate that Twin Cities employers added almost 20,000 new jobs, representing the best start to a year this decade,” the report stated. “Compared to this time last year, the Twin Cities economy seems to at least be headed in the right direction.”
 
The report concluded: “Continued support from a stable and growing economy will ultimately determine the pace of our recovery, but overall our market remains poised for moderate growth in 2011.”
 
New-home activity at Stonemill Farms mirrors the upbeat tone of the Metrostudy report, and in some ways surpasses it.
 
New-home sales in this master-planned community increased 33% for the first 10 months of 2010, compared to the same period in 2009. A total of 72 new homes have been sold in the community through October, said Jamie Tharp, marketing director for Newland Communities.
 
With the introduction of a new neighborhood offering homes from the $240,000s by K. Hovnanian, Stonemill Farms is ready to meet buyer demand in one of the area’s most popular price ranges.
 
Stonemill Farms debuted several new model homes during the Parade of Homes Fall Showcase, sponsored by the Builders Association of the Twin Cities. More than 3,000 people visited Stonemill Farms during the Parade, which Tharp said was a record number.
 
“With our new K. Hovnanian homes from the $240,000s, and fresh inventory homes ready in all of our price ranges, Stonemill Farms has plenty to offer homebuyers who would like to move into a new home for the holidays or early 2011,” Tharp said. “There is a very positive feeling of growth and optimism throughout the community, reflecting the overall feeling in the Twin Cities.”
 
Tharp said the Twin Cities’ improving resale market also bodes well for owners of existing homes who would like to move up to a new energy-efficient home in a master-planned community with top-rated schools and amenities such as those offered by Stonemill Farms.
 
“Woodbury ranked very high on Money magazine’s ‘Best Place to Live’ list for 2010, coming in at 13th nationally,” Tharp said. “With amenities like an ice hockey and skating rink, an aquatic center and a 6,000-square-foot community center, Stonemill Farms is one of the best places to live in Woodbury and in the entire Twin Cities region.”
 
 

Stonemill Farms invites you to come help us celebrate the grand opening of new homes priced from the $240,000s this weekend, with festivities from noon until 3 p.m. on Saturday, Oct. 2, hosted by K. Hovnanian Homes.
 
Visitors will enjoy hot dogs, cotton candy, snacks and beverages, along with activities including face painting, a moonbounce for kids, prize drawings and much more.
 
This grand opening will spotlight new single-family homes priced from the $240,000s from K. Hovnanian Homes, the community’s newest builder. Plans range from approximately 1,800 to 2,400 square feet, and they include many of the latest energy efficiency features.
 
This grand opening coincides with the final weekend of the Parade of Homes Fall Showcase, sponsored by the Builders Association of the Twin Cities – so there has never been a better time to visit Stonemill Farms!

To visit us, take 494 or 694 to I-94, then drive east on I-94. Take the Woodbury Dr. exit and drive south on Woodbury Dr. Turn left on Valley Creek Rd. and right on Settlers Ridge Parkway. Turn left on Lake Rd. and right on Ivywood Trail.  Call us at 651-998-0318.