Real estate prices are occasionally measured by the price per square foot. This allows for a better comparison between differently priced homes as well as homes of different sizes. In this pricing measurement method, the sale price of a home is divided by its area. For example, a home that sold for $300,000 and has 2,000 square feet would have a price per square foot of $150.

Researching the price per square foot for Stillwater homes over the past year shows the following information:

Over the course of 1 year, this averages to $163.09. The same search resulted in 287 active listings asking an average of $177.90 per square foot. Of those listings, 148 are below and 139 are above the average. Going back to the example home of 2,000 sq ft, the difference of $14.81 ($177.90 - $163.09) results in $29,620.

Note: A few listings were discarded because they report having only 1 square foot or really distort the results because of their high listing price.

The absorption rate is a calculation of how long it will take for all homes currently on the market to be sold (absorbed). Here are the numbers for Stillwater, sorted by property type:

Single Family - 11.3 months
Townhome - 11.6 months
Condominium - 33.2 months

A six month supply is considered balanced, when the number of listings is about equal to the number of buyers. Over 6 months represent a buyers market and below are a sellers market.

Its pretty clear that you need to price your home right if you want a quick sale, especially condo owners who don’t want to wait nearly 3 years.

For more specific absorption rates on your home, email us or call 651-356-8877.

After 38 years of family ownership, the Stillwater Dairy Queen closed its doors on April 2nd. A recent article in the St. Croix Valley Press noted the owner, Paul Williquett, is looking to move to a new location.

Agenda notes from the upcoming Stillwater Planning Commission cite a special use permit request from architects representing Dairy Queen. The proposed location - 317 S. Main Street (view map) - the same building as the St. Croix Crab House.

Its apparent that ice cream shops do the majority of their business in summer. Dairy Queen is obviously looking to capitalize on the tourism the downtown area has during this time. Now we’ll just have to see if local residents will make the trek to Main Street for their favorite Blizzard.

The Federal Emergency Management Agency (FEMA) released new Flood Insurance Rate Maps (FIRMs) for all of Washington County, including Stillwater. These maps are preliminary but are more accurate than the current 1980’s maps and include a number of changes throughout Stillwater.

Most of Stillwater will remain unaffected by these changes as they are currently in a Zone X (outside the 0.2% annual chance floodplain).

The new maps identify several areas that are potentially subject to flooding during a major storm event. According to the revised maps, approximately 117 more property owners in Stillwater have some part of their property included in a floodplain.

A number of current floodplain boundaries are proposed to be moved. The changes will result in approximately 58 property owners having additional floodplain on their property due to boundary changes.

Flood Insurance
Federal flood insurance is available in our entire community due to participation in the National Flood Insurance Program. If you are a homeowner in Stillwater, you can purchase flood insurance regardless of the flood zone you are in. If you wish to purchase flood insurance contact your homeowner’s insurance agent for more details.

You can go to http://www.floodsmart.gov/floodsmart/ and type in your address in the red box on the left side of the page. This will help determine your property’s flood risk, estimated premium cost and show a list of agents serving the area.

Click here to see the preliminary Stillwater flood map

The Heirloom Homes and Landmark Sites Program is a joint effort of the City of Stillwater and the Heritage Preservation Commission (HPC) to honor property owners who maintain the historical character of their building or site. The goals of the program are to:

• Acknowledge property owners who have voluntarily preserved or restored their historic home, building, or site.
• Showcase historic homes on Stillwater’s Heirloom Homes and Landmark Sites Program website.
• Educate the general public about historic properties in Stillwater.
• Help property owners learn how to preserve their historic homes by providing technical assistance that shows homeowners how to maintain the historical character of their homes while also updating them to meet the demands of the twenty-first century.
• Preserve Stillwater’s historic neighborhoods to ensure that the community maintains its identity and appeal as a historic river city and tourist destination.

So far only a few homes are featured on the website. Each one displays a photo, the year built, architect and builder (if known), map and history of the property. If you own a historic home and want to be featured, you can apply to be part of the Heirloom Homes Program. Your house must be located in the older part of Stillwater, have good historical integrity and represent one of the various architectural styles of the nineteenth century or the first half of the twentieth century. There is no cost, participation in the program is voluntary and you can withdraw at any time.

Visit the Heirloom Homes & Landmark Sites Program website

Download the Heirloom Homes Program Brochure

See the handy Guide to Rehabilitating Historic Homes in Stillwater

Two words: real estate. Actress Jessica Lange said:

“When we first moved to Stillwater, it still felt like a real place. It had a downtown with a hardware store, a furniture store, a clothing store,” she said in an interview Sunday with the New York Daily News to promote her newest film, “Bonneville,” which opens Friday.

“Now it’s all gift shops and these terrible condominiums,” she added. “It was a little town with a great deal of character. Everything gets yuppified, I guess.”

This hatred may be because the new condo developments stole the limelight from her mansion. Lang had it listed on the MLS for over 3 years and reduced the price by $1,350,000, which is a 59% decrease! And I was a little upset when our previous home only sold for 96% of the original listing price.

Music lovers will once again enjoy the line-up at the 2008 Lumberjack Days Festival, which this year includes many local favorites. On July 23rd, Corbin Bleu will perform. Martin Zellar and Uncle Chunk will play July 24th, Soul Asylum and the BoDeans on July 25th, and Grammy Award winning artist Boz Scaggs will headline the July 26th show.

A park pass is required for all shows except Martin Zellar and Uncle Chunk. You can purchase a park pass from the Lumberjack Days website.