Hudson |
Tһе St. Paul Area Association οf Realtors yesterday announced tһаt St. Croix County leads tһе 13-county Twin Cities metro area wіtһ tһе Ɩаrɡеѕt decline іח tһе median price οf home sales fοr tһе month οf February 2006 compared tο February 2005. Tһе decline іח tһе median sales price οf a home іח St. Croix County wаѕ down 6.56% tο $195,750.
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Using the logic of certain teacher spouse union thugs, that would indicate that the quality of education in St. Croix County went down last year as well. So much for the quality of schools increasing my home value.
Good thing New Richmond School Board – Long Range Planning Commission didn”t use Dr. Reinhardt – highest projections for student population growth in drawing up its recommendations for a $71,500,000 new school construction plan.
Gosh, if they did, their number one assumption for student population would be completely invalid from these recent real estate markets trends.
I’ll be waiting for actual sales of houses rather than the decline of the medium price. Think of it as a car rebate which holds up sales.
The bomb will drop this October (if it does) when the official student enrollment figures come in. Then we’ll get the first inkling of the accuracy of the Reinhardt report.
Curt Weese has a good point, however. Wal-mart pumped up employment by 350 in New Richmond which is probably the largest jump in decades. Maybe it indicates the quality of our schools. Hmmmm.
“Think of it as a car rebate”?
6.56% of $195,750 is $12,842. How many local New Richmond home owners are giving away $12,842 ” as a rebate to the new buyers? If and when you sell your house, are you going to bring almost $13,000 at closing to give to the buyer?
This is a perfect example of supply and demand.
In January 2006, St. Croix County led the 13-county Twin Cities metro area in the increase in homes listed for sale. In February, 2006, St. Croix County led the same 13-county Twin Cities metro area in the decrease in median sales prices.
As supply goes up and demand decreases, so do prices decrease as well.
When demand goes up, price will go up too. However, this is not happening in 2006.
The problem with the Reinhardt projections is an assumption in the steady increase in demand. Not less than 6 months after the District paid her thousands of dollars for her professional expertise, the market data is debunking her high growth estimates.
As for Wal-Mart – 350 new jobs in New Richmond, count how many empty stores there are on Main Street. I counted 7 this weekend.
The point here is not if New Richmond is growing ” all the anecdotal evidence appears to show that. The problem with the LRPC, that you served on, used Reinhardt – highest growth projections as a justification for the new high school, the new elementary school and converting the existing high school into a middle school. It is just another example of manipulating the data for their glorious property tax raising scheme which will make it even more difficult for the local real estate market to recover.
I think the prior median price was approximately $209,500.
Perhaps Ziller should stick to defending LRPC Chair Scott Needham – accusing someone of leaking public information from a public meeting or sticking up for School Board member Chris Skoglund – votes on District expenditures that go to directly her husband – firm.