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FOR-SALE HOUSING MARKET CONDITIONS <br /> Blaine <br /> There are roughly 3,000 homes that are in the planning stages of development in Blaine. The <br /> exact number of single-family homes versus multifamily homes are not known, but based on re- <br /> cent building trends we project that roughly 25% of the homes that are planned will be for-sale <br /> multifamily homes or roughly 700. Also, based on recent trends, we project that roughly 49% of <br /> the multifamily will be affordable - or have prices in 2005 dollars of$200,000 or less. This <br /> equates to about 350 total affordable multifamily units planned in Blaine. <br /> Summary <br /> We find several pending communities that will bring somewhere between 4,700 and 5,200 units <br /> on-line over the next several years. Most of these communities will be competitive with a com- <br /> munity in Ramsey as potential buyers are likely to cross shop communities seeking the unit that <br /> most satisfies their wants in terms of location, price, and unit type/design. So far, demand has <br /> exceeded development, as existing communities have been absorbing adequately overall. Based <br /> on our projected growth in the Market Area compared to these planned/pending communities we <br /> project most of these new communities to perform adequately as well. <br /> MAXFIELD RESEARCH INC. 37 <br />