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Affordable houses hard to find
<br /> Study finds Housing market geared for higher-valued homes
<br /> shortage of
<br /> homes under 20 - , ',. H,. ,,.� . -, ,.i
<br /> $150,000 ' . . ; "h.
<br /> tt- .. ''r 'k1
<br /> (Editor's note:This is the first " 41' ;y. ,::-
<br /> in a series of stories on issues 15 — :'` t : :i-ii 1
<br /> concerning housing in Elk
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<br /> River.) , y.. "c�,. �;" ._ :.
<br /> by Nicole Jacob - ' -,---., •
<br /> Staff writer Homes like this selling for 'a`i`^;
<br /> Is there a housing crisis in 1 —
<br /> ':,`,¢,'-
<br /> Elk River? It's a question $249,000 are easy to find.
<br /> that hadn't seriously been But getting something for 4.
<br /> under $150,000 is another j :;.
<br /> asked in Elk River until story. ' 1 5-3 .4,`W`-'�;-`, •
<br /> recently, when the Central , p ,; ',`r
<br /> Minnesota Housing 5 -- w '4'4',4:',.,'-.
<br /> Partnership (CMHP) con- ' =}` 41 �. ,
<br /> ducted a housing study for ' "� '
<br /> the city. Their findings may '-,i'4411` ' - y ''
<br /> surprise you. , r=. r "0
<br /> The Elk River area has a 0 ''`',`''�1 ''`''" - �' '` 1'
<br /> ' $100,001 $150,001 $200,001 ; $250,001 $300,001
<br /> with affordable housing,Lisa " and under to$150,000 to,$200,000,; to$250400 to$300,000 and over
<br /> Graphenteen of CMHP con-
<br /> cluded after reviewing the A study done by the Central Minnesota affordable housing." The chart shows a rep-
<br /> *results of the study. Housing Partnership found the Elk River resentative snapshot of Elk River home list-
<br /> The study indicates that area has a "pretty serious problem with ings in the year 2000.
<br /> there is a general lack of
<br /> home-buying opportunities than $30,000—the CMHP
<br /> in Elk River for households 'It's hard. Especially for first-time study showed. In 2000, the
<br /> making less than $50,000. average selling price was
<br /> Just ask Jason and Amber home buyers.The supply is nowhere $174,820.
<br /> Schubert, a young 20-some- near the demand: After seeing numbers like
<br /> thing couple, who have been these, some long-time Elk
<br /> looking to buy a home in Elk —Brian O'Donnell River residents are realizing
<br /> River for two years with no that they would not be able
<br /> luck. The Schuberts and real estate agent to afford their homes if they
<br /> their two children, both hadn't bought their property
<br /> under the age of 2,have been several years ago.
<br /> living in a one-bedroom have a household income of $150,000. The study showed Planning Commissioner
<br /> apartment in the Evans about $50,000. They've been that of 54 homes in the Tom Mesich, who is being
<br /> Meadows complex. married for four years, and Multiple Listing Service, forced to move from his home
<br /> "It's kind of frustrating," Amber says their credit is only two were priced so that a highway inter-
<br /> said Amber, "but helpless- good. between $100,001-$150,000 change can be installed at
<br /> ness is the biggest feeling. Yet they struggle to find a and just five homes were County Road 33, said as
<br /> It's so out of your hands. suitable house they can priced between $150,001- much. So did HRA member
<br /> There's absolutely nothing afford in Elk River. 8200,000. There were no Jean Leiser, who lives on
<br /> we can do to make the mar- The Schuberts are willing homes listed under three acres in Elk River and
<br /> ket go down...And we're not to pay around $130,000 for a $100,000. built her home for less than
<br /> poor. That's the amazing house in Elk River,but so far, The lack of affordable hous- $90,000 15 years ago.
<br /> thing." they haven't found anything es in the area is exacerbated "Property value increases
<br /> Jason is a quality control within their price range that by the fact that property val- are a good thing,"Leiser
<br /> manager for a gutter compa- didn't require major repair ues continue to rise dramati- said. "But we also need to
<br /> Ankny in the Twin Cities, and work. cally each year. Since 1997, think of our children. Young
<br /> ber works one day a week According to the CMHP the median sales price for a couples can't afford a house
<br /> cleaning houses.Amber esti- study,Elk River has very few home in Elk River has
<br /> mated that together they homes that are listed under increased 32 percent—more Housing to page 8
<br /> Housing: Home buyers often end up looking further north, west
<br /> Continued from page 1 afford to buy a house in like the Schuberts, who are month-old baby's crib is in
<br /> for$150,000." Maple Grove that Elk River both Elk River High School the living room, and their
<br /> Area real estate agents was the place to go. Now he graduates, it's an ideal place. other child sleeps in a
<br /> have seen evidence of that tells people to look in "Everything's here; our bassinet. They keep their
<br /> first-hand. Princeton or Becker to find friends, our church..."Amber storage in a walk-in closet.
<br /> "It's hard. Especially for homes they can afford. said. "And with Jason work- "We don't fit in a starter
<br /> first-time home buyers,"said
<br /> "Occasionally something ing in the Cities,he's already home anymore,"Amber said.
<br /> will come along," O'Donnell commuting. Why add on And we want more kids. So
<br /> Brian O'Donnell, a 21 year
<br /> real estate agent currently said of house hunting in Elk another 20 minutes to that?" do you wait and plan your
<br /> with Christian Realty. "The River."But you really have to So the Schuberts keep look- family around getting a
<br /> supply is nowhere near the be ready to act fast." ing for that good deal to come house?"
<br /> demand.There are more buy Living in Elk River is not a along. They like their one- It's a question the
<br /> ers than sellers." constitutional right, as bedroom apartment, even Schuberts, and other young
<br /> O'Donnell said he used to Mesich said at the housing though it's a bit cramped for couples like them, will have
<br /> tell people who couldn't workshop, but for couples four people. Their two- to answer.
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