A decade of downtown condos

There was a time, about a decade ago when there were far fewer condos in downtown St. Paul.  Starting in about 2002 new developments started springing up.  Some were new construction and some were warehouse and apartment building renovations.  By about 2006 it seemed like there was enough housing downtown and we started to see some of the new projects being put on hold. There are still new units available downtown that have not been sold from projects that were complete by 2005. 

Here is a look at the number of condos that were sold in downtown St. Paul over the last ten years.  The data was taken from the MLS which is deemed reliable but not guaranteed.  

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Sales peeked in 2004, and have gone down every year since.  Using the same data I took a look at prices downtown over the last ten years. 

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Prices did not peak until 2006, as they did in the rest of the rest of the city. However prices have not gone down as much as they have in the rest of the city during the last three years.

This year the foreclosure rate downtown is going up.  About 10% of the condos on the market are in some stage of foreclosure, which is about the same or slightly higher than the rest of the city.

The numbers don't make sense though. There has been a sharp decline in condo sales. Some sellers are renting their condos, and there are others who want to sell but they can not because they purchased the units in 2005 or later and don't have enough equity to sell. 

The housing stock in downtown St. Paul is in good shape.  There is very little if any "run down" property and that will make a difference when it comes to holding value.  But it looks like the prices downtown have not yet bottomed out.  It is a kind of mystery market and very different from the rest of the city so I don't know how low it will go but will be keeping a very close eye on the foreclosure rates.

Currently in St. Paul the average cumulative days on market for all homes on the market listed through the MLS is 177.2 days and the average list price is $201,804.  For downtown St. Paul condos the average cumulative days on market for all units that are listed is 240.71 days and the average list price is $256,337.  It takes twice as long to sell a downtown condo as it does to sell a home in the city.  I don't think downtown conod prices have hit bottom yet and will come down a bit more.

Orange in January

orange begonias

I love living in Minnesota but I have to admit I am not a fan of January.  One thing I do every January to alleviate the monotony of the white landscape is go to Como Park and take pictures of the flowers in the sunken garden. It is always warm in there and the flowers are amazing.  

The St. Paul Winter Carnival helps make January a bit more tolerable, it  really is the coolest celebration on earth. Time to hunt for the medallion, go to parades, see ice sculptures and fireworks.  When the carnival is over so is January.  I wouldn't mind missing January but I would really hate to miss the carnival. 

  

Overshoes

By Jack Boardman

When I was a kid during the 50's, they hadn't yet invented wind chill, we just knew it was cold, and the cold was worse when it was windy. Our parents would send us out to play in all but the worst weather and required us to dress for survival. They didn't exactly put it in those terms but that is what they did.

Flann4 Bucklersel shirts for the boys, sweaters or long sleeved tee's  for the girls, lined jeans (usually plaid but sometimes a solid color lining) or corduroys, parkas (they were usually green with grey fur around the front of the hood, and the hood had a zipper down the center), wool scarf to cover the nose, lined vinyl mittens with multi-colored elastic wristbands, or knit mittens, caps with ear flaps, or knit stocking caps and finally four-buckle boots for the boys and fur-topped zipper boots for the girls, usually red.

These were not the boots like we have today, they were overshoes that we struggled to put on and take off. Taking them off usually took the shoe underneath right along with it. With us boys, the four bucklers were to be worn un-buckled as keeping them buckled the way we HAD to have them before we went outside, was simply not allowed. They would inevitably fill with snow and cause more than a little discomfort. The best we could do was to scoop as much snow as we could out of the boot before it melted and soaked our shoes and socks. In those days everybody wore overshoes.

My mother’s were made to be worn over high heeled shoes and my father opted for zipper overshoes. His boot zippers always zipped, something that amazes me to this day. As we grew older and went on to junior and senior high school overshoes went from four-bucklers to zipper boots to no boots at all. We grew older—not necessarily smarter. You almost never see overshoes anymore. Certainly you see winter boots but they’re no longer covering shoes, they’re simply boots that must be removed and replaced with shoes. Mostly though, boots are not worn, just cold grip-less shoes.

I wear overshoes. I may be the only one in the Twin City metropolitan area who does. My feet remain warm and dry in the coldest weather and the boots provide traction in the snow (and are not bad on ice). Some twenty or more years ago, my father-in-law gave me a pair of zipper-boots for Christmas—a gag-gift I think. These are the boots I have relied on since to keep my feet warm & dry. Thank you  for the most useful and long lasting gift EVER!

Last weekend . .

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Last weekend there was a chill in the air. Can you see it? The cloud over the Comcast building is the steam coming from the power plant.

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I like upper landing park better in the summer but I have to say the steam from the river made it look kind of cool. 🙂

Shepard Road

I still say that the Robert street bridge is the most photogenic bridge in St. Paul. I did pull over to take this shot. Too bad it isn't video so you can hear the honking.

It is going to be nice and warm today . . comparatively speaking.

McDonald’s the new hang out?

It is Friday and Friday’s are for fun.  I hate to interrupt the fun but today is a big day.  As of today McDonalds restaurants start offering Wi-Fi for free.  I have had free Wi-Fi at McDonald’s for awhile now been known to make a quick stop at a McDonald’s if I have to have internet access when I have to have it and can’t get it any other way. 

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Last summer when we were headed up to Duluth for a little vacation I had a real estate type emergency and I couldn’t get what I needed through my blackberry. We used the blackberry to find the closest McDonald’s and  stopped there, I hopped on the internet, while my husband ordered breakfast and we were back on the road in less than a half hour. 

Apparently McDonald’s is trying to become more of a destination, that is why they started offering coffee shop type coffee and now free Wi-Fi.  I don’t think the coffee shops have anything to worry about.  I can work anywhere but not in a McDonald’s.  There is constant activity and the doors open and close every ten seconds which is hell during a Minnesota winter. There are children running around and for some reason people who eat in the restaurant tend to talk 10 decibels higher than the normal indoor voice.

Yet this is a big deal.  The beginning of a new era and today is the day that it all starts.  I have a friend who is pretty excited about it and has been counting the days. It will be interesting to see how it works.  Will McDonald’s become a destination for some? Will they bring their laptops, or netbooks and hang out, surf the net and drink coffee?  You won’t find me there unless there are no other choices.  It just isn’t as fun as the local coffee shops.  

Grand Avenue is Grand

Wetpaint

Grand Avenue runs from West 7th out to Cretin Avenue.  Each section of Grand seems to have it's own character.  Wet Paint is located West of Snelling Avenue on the stretch of Grand that is near Macalaster College.  The street narrows there for a bit and the shops give it a distinct personality.  Those neighborhood businesses that I like to mention line the street making it a great area to shop, eat and buy from local businesses.  The street changes with the neighborhoods it runs through. There isn't any other street like it in St. Paul.  Grand Avenue has it's own business association and of course the annual Grand old days event. They always manage to have the snow put away by then.