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Ms. Amanda Othoudt May 26, 2015 <br />City of Elk RiverPage 9 <br />5.Interview area housing professionals and other local governmental staff regarding <br />housing conditions, economic development trends, and other facto <br />local housing markets. <br />6.Identify the residential land supply and its impact on potential housing prod <br />7.Conduct a windshield survey of housing properties in Elk River. The windshield sur- <br />vey provides a visual assessment of the general conditions of the housing stock. <br />Comment on properties or neighborhoods with code enforcement concern <br />other substandard housing issues that have undesirable housing c <br />8.Discuss the implications of the findings on housing demand in Elk River. <br /> <br />F.For-Sale Housing Market Analysis <br />1.Collect data on housing resale values (single-family and multifamily); examine price <br />distribution and average/median sale price of home resales in Elk River and the draw <br />area (Note: this may require assistance from the city or county assessor). <br />2.Compile data on home foreclosures in Elk River. Identify the number of home <br />foreclosures by year and geographic location in the community (if available). Discuss <br />any concerns/issues regarding concentrations of home foreclosures. (This may <br />require assistance from local government officials). <br />3.Analyze data on the inventory and list price of homes currently <br />4.Survey active and recently completed for-sale housing developments (single-family <br />homes, townhomes, twinhomes, etc.) in Elk River and the surrounding area; analyze <br />information on product types, lot sizes, home sizes, sale prices <br />absorption (if available). For condominium or cooperative products (if any), provide <br />data on building and unit amenities and common areas. <br />5.Identify Elk Rivers residential lot supply and the impact on potential housing <br />production. Present information on vacant lots by year platted, subdivision, pricing, <br />etc. <br />6.Identify and survey manufactured home parks in Elk River and the draw area (if any). <br />Present information on number of pads, vacant pads, lot pricing, and tenant profile. <br />7.Identify pending for-sale housing developments in Elk River and the draw area, and <br />discuss the likely impact of these developments on the housing m <br />8.Interview real estate sales agents, developers, and builders to assess the overall <br />strength of the for-sale housing market, buyer profiles, the impact of <br />foreclosures/short sales on the housing market, desired housing <br />range, and unmet market niches. <br />9.Based on a windshield survey of homes in Elk River and interviews with City staff and <br />Realtors discuss the overall condition of the owner-occupied housing stock in the <br />City. <br /> <br />MAXFIELD RESEARCH INC. <br />