If you're still hearing real estate experts whining and moaning about the state of the market, the bursting of the bubble, or the plummeting of home value averages, just tune them out. Sure, nationally, the market isn't the booming money tree is was 3 years ago, but that does not mean it's dead either. Besides, knowing how long homes are staying on the market nationwide or the median home value of the nation (it was $221,900 in 2006) isn't going to help you much when you're ready to move.



Real estate is an investment, so make sure you're moving somewhere your home value is likely to appreciate decently over the years. But if you're like me, you probably can't tell the future, so how are you supposed to figure that one out? Simple: good, old fashioned research. Research the past home value and rate of sale trends in a specific area, as well as its population, job opportunities, economy, unemployment rates and the attractions it holds to visitors. Those various factors can give you a fair idea of where home values in a given area may be headed over the years.

Minnesota, home of the Twin Cities (one of which, St. Paul, is the capital city) has a population of about 5,167,101. Their economy is based on agricultural products such as: dairy, corn, cattle, soybeans, hogs, wheat and turkeys and on industrial sectors such as machinery, food processing, printing and publishing, fabricated metal products, electric equipment, mining and tourism. With a large population and a strong economy, it's obvious Minnesota is a favorable spot to live, which usually means high home value averages and faster sales. Of course, the tourism factor and attractions an area has to offer can have a big impact on the amount of new residents drawn in as well.

Minnesota has tons of state parks for outdoor adventures such as camping, hiking, fishing, biking, boating, landscape and wildlife viewing, etc. The state can be broken into 4 main sections, each offering it's own unique attractions. The Northwest/Central area has the largest lakes, prairies and bogs, it is the source of the Mississippi River and the is the home of the legend of Paul Bunyon, the famous bigger than life lumberjack. There are plenty of resorts to stay in with golfing, music and theater, museums and historical sites readily available. The Northeast region is the scene of many lakes, tumbling rivers and lush forests, perfect for the outdoor recreations mentioned earlier. The Southern portion of Minnesota is all about scenic valleys, wooded bluffs and peaceful prairies. Numerous historic sites honoring Dakota Indians and the pioneers alike are spread throughout the area, as are antique shops, historic architecture and ethnic festivals.

Last but not least is the Metro area, the home of the Twin Cities, where hip, urban Minneapolis meets gentrified, historical St. Paul. A wide spectrum of metropolitan experiences is the result, including, but not limited to: art, history and science museums, stage performances, zoos, family-friendly entertainment, shopping, a live music scene, dining, clubbing, bar hopping and theater. The area combines urban comforts with a beautiful natural setting including lakes, rivers, parks and trees. With so much to do, and a large metropolitan area, it's a fair bet to say home value prices, at least in the metro area, are constantly on the rise.

Minnesota also has middle to low unemployment rate, staying steady at about 4.6% over the past couple months, with a rise in jobs in trade, transportation and utilities and education and health services. Government, construction and manufacturing jobs seem to have slipped somewhat. The median household income was about $52,024, higher than the national median and the median home value sales price in 2006 was about $235,000. The median home value in April 2007 was $260, 277.

In Minneapolis, the average value of a single family home is about $255,000. As long as sellers are willing to price their homes fairly, homes are still moving. St. Paul has an average home value of about $235,000. The average days spent on the market is a bit less than 90. The rural areas of Minnesota are bound to have lower home values but the homes probably don't get sold as fast. However, if Minnesota stays on course, and job opportunities continue to arise, there's no reason why home value averages can't continue to rise steadily over the next few years.