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<br />FOR-SAbE HOUSING MARKET CONDITIONS <br /> <br /> <br />TABLE FS-6 <br />MULTIFAMILY HOMES CURRENTLY LISTED FOR-SALE <br />RAMSEY MARKET AREA <br />Se tember 2009 <br /> <br />$500,000 + 0 2 0.8% 2 0.6% <br /> 77 259 96.9% 336 97.0% <br />Minimum $94,900 $38,000 $38,000 <br />Maximum $479,700 $599,000 $599,000 <br />Median $164;900 $144,350 $149,700 <br /> <br />Sources: Northstar MLS; Maxfield Research Inc. <br /> <br />Actively Marketing Affordable For-Sale Developments <br /> <br />Maxfield Research Inc. interviewed city officials, real estate agents, and developerslbuilders of <br />owner-occupied residential developments currently being marketed in the Market Area as well as <br />those proposed (pending). Table FS-7 illustrates selected active single-family and multifamily <br />housing developments that would be affordable to the workforce population in the Market Area. <br />It is important to note that Table FS-7 excludes pending projects that have not begun marketing. <br />The pending projects are discussed in the following section ofthis report. <br /> <br />The following are key points from Table FS-7: <br /> <br />The table lists nine multifamily developments located in communities across the northern Twin <br />Cities including Ramsey, Andover, Coon Rapids, Champlin and Blaine. Blaine currently has the <br />highest number of actively marketing subdivisions. In The Lakes subdivision, Rottlund Homes, <br />Hans Hagen Homes and Sharper Homes are all marketing multifamily products. Rottlund <br />Homes is marketing two products, Gable Homes (a multi-story townhome) and Garden Homes (a <br />single-level townhome) within The Lakes subdivision. Prices shown on the table reflect base <br />pricing and exclude options. <br /> <br />. The table shows an estimate ofthe proportion of homes that are priced below $235,000. <br />There is a much higher proportion of multifamily homes priced below $235,000 than single-", <br />family homes. Five projects have all of their units priced below $235,000. Despite the "' <br />in home values due to the housing market slowdown, most new single-family horn F <br />priced above $235,000, but there are more single-family homes priced less than <br />than prior to the slowdown. <br /> <br /> <br />MAXFIELD RESEARCH INC. <br />