Owatonna
Real Estate
Major housing project could fill gaps in local market
It’s been said once; it’s been said a thousand times — there is a housing problem in Owatonna. Between a highly competitive real estate market and the dwindling number of developed lots available for new construction, the Community Development Department for the city has heard nonstop about the need and demand for diverse housing options. Fortunately, one major project that has been talked about for two years is finally on...
After review, Faribault HRA considers changes that could include selling housing
Faribault’s Housing and Redevelopment Authority is gearing up to consider whether to turn over some of its housing to nonprofit ownership. But first Community and Economic Development Director David Wanberg gave the governing board an overview of the entity’s history…
Can't Afford To Buy a Home? Free Land Programs From Colorado to Iowa Provide Alternatives
Small communities across the US now offer free land to individuals willing to build homes and invest in their towns. As housing costs continue to rise across the country, small towns are getting creative in attracting new residents and boosting their local economies. From the Midwest to the Mountain states, these programs aren’t just about affordable homeownership — they also provide a chance to become part of a close-knit community and experience a different way of life. ...
Owatonna at risk of losing USDA housing loan eligibility
As the housing market continues to be competitive, Owatonna real estate agents, mortgage lenders and others with skin in the housing game continue to discuss trends, strategies and forecasts. While the new high school, continued development in the industrial park and other local initiatives are certainly expanding Owatonna’s ability to grow, the lack of ready and diverse housing continues to be an issue. To compound on that issue, however, is a special type of funding for potential homebuyers that could be eliminated by the end...
Owatonna natives take ownership of historic Faribault home
With its wraparound porch, long windows and distinctive turret soaring skyward, it’s hard to miss the pink and purple Queen Anne Victorian home at the prominent corner of Faribault’s Second Street NW and Third Avenue NW. Josh and Emily Anderson, formerly of Owatonna, are now the ninth owners of the John Hutchinson House. Built in 1892, the house retains the name of its first owner, a a Canadian who arrived in Faribault in the 1880s and became a prominent business leader. Its unusual colors also...
Demand still outweighs supply in local housing market
With interest rates and inflation on the rise, overheated housing markets across the country started to cool off last year. Yet with demand for available housing still far outstripping supply, the local housing sector remains extremely competitive. Across Minnesota, median home prices rose to record highs in 2022, while sales fell to their lowest levels since 2014. Median home prices in Minnesota now stand at more than $350,000 — making it harder for entry level and first-time homebuyers to get a foot in the door. ...
Demand still outweighs supply in local housing market
With interest rates and inflation on the rise, overheated housing markets across the country started to cool off last year. Yet with demand for available housing still far outstripping supply, the local housing sector remains extremely competitive. Across Minnesota, median home prices rose to record highs in 2022, while sales fell to their lowest levels since 2014. Median home prices in Minnesota now stand at more than $350,000 — making it harder for entry level and first-time homebuyers to get a foot in the door. ...
Demand still outweighs supply in local housing market
With interest rates and inflation on the rise, overheated housing markets across the country started to cool off last year. Yet with demand for available housing still far outstripping supply, the local housing sector remains extremely competitive. Across Minnesota, median home prices rose to record highs in 2022, while sales fell to their lowest levels since 2014. Median home prices in Minnesota now stand at more than $350,000 — making it harder for entry level and first-time homebuyers to get a foot in the door. ...
Demand still outweighs supply in local housing market
With interest rates and inflation on the rise, overheated housing markets across the country started to cool off last year. Yet with demand for available housing still far outstripping supply, the local housing sector remains extremely competitive. Across Minnesota, median home prices rose to record highs in 2022, while sales fell to their lowest levels since 2014. Median home prices in Minnesota now stand at more than $350,000 — making it harder for entry level and first-time homebuyers to get a foot in the door. ...
Looking to Move from CNY? These 7 U.S. Towns Will Give You Free Land
Let's face it... living in Central New York isn't for everybody. Sure, you're super close to the beautiful, sprawling back country of Adirondack Park. City amenities aren't super far away. And there's enough small towns scattered throughout the region for a quiet, quality, rural way of life. But even if...
Looking to Move from CNY? These 7 U.S. Towns Will Give You Free Land
Let's face it... living in Central New York isn't for everybody. Sure, you're super close to the beautiful, sprawling back country of Adirondack Park. City amenities aren't super far away. And there's enough small towns scattered throughout the region for a quiet, quality, rural way of life. But even if...
County, city close meetings to discuss real estate
Rice County and the city of Faribault both are looking to buy or sell property. The Rice County Board of Commissioners held a closed meeting Tuesday morning to discuss three properties located near the Rice County Government Services Building. The Faribault City Council also was scheduled to hold a closed meeting Tuesday evening to talk about potentially buying six properties and selling two pairs of adjoining parcels. ...
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