Forest Lake, Minnesota is well known throughout the Twin Cities area. It was a favorite summer vacation spot, an annual ice fishing tournament tradition and a destination when going for a Sunday a drive in the country in days gone by. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb.
Real estate in Forest Lake, MN in north Washington County and east Anoka County has seen homes priced under $200,000 selling significantly faster in the 2nd quarter than in the last year, though there has not be a significant increase in the number of homes sold A total of 16 single family homes were sold in Forest Lake and Forest Lake Township during this time period. TheCumulative Days on Market (CDOM) Statistic is down considerably in the 2nd quarter from 165 days to129 days for homes under $200,000 in Forest Lake. This is quite a bit better than what was seen in the first half of 2008 when the CDOM ranged from 211-286. Homes are selling much better in the lower price points...no doubt that the $8000 first time homebuyer tax credithad something to due with the picked up rate of sales in this price range.
It appears the high end homes will continue to struggle into 2009 with virtually no sales for homes priced over $500,000. All of these properties are lakeshore and many are beautiful executive residences on Forest Lake's picturesque First Lake. Currently, the Forest Lake community sits with nearly 5 years of inventory in the highend price range and with no homes sold in the second quarter...long after the ice has melted...it appears this end of the market is at a standstill.
With all this inventory, some sellers are getting aggressive with pricing. There are a few beautiful homes are currently on the market in Forest Lake at amazing prices; many are lakeshore and acreage properties. With this much inventory, motivated sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore or acreage home! There are 46 active lakeshore homes for sale in the Forest Lake area and some are at attractive and affordable price points. Many lakehomes have been on the market for several months; some over a year. With the amazing low interest rates and few highend buyers, it could be a great time to negotiate a deal on your piece of Forest Lake Minnesota shoreline!
2nd Quarter 2009 Forest Lake real estate statistics for single family homes:
Under $200,000~ 34 Active Listings, 11 Pending Listings, 16 Sold Listings, 129 CDOM (Lakeshore Subgroup ~ 1 Active, 0 Pending, 0 Sold)
$400,000-$500,000 ~ 11 Active Listings, 0 Pending Listings, 0 Sold Listing, (Lakeshore Subgroup ~ 6 Active, 0 Pending, 0 Sold)
$500,000 and Up~ 28 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 28 Active, 0 Pending, 0 Sold)
Lakeshore available in the Forest Lake area: 46 Active Listings, 3 Pending Listings, 2 Sold
ListingsForest Lake lakeshore price range:$189,900-$2,600,000
42 Homes on Forest Lake 1 Homes on Clear Lake 2 Home on Comfort Lake 1 Home on Heims Lake (Environmental Lakeshore)
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 4 /1/09 through 6/30/09.
Is a Home on Forest Lake Your Dream Come True? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Two of my favorite Walt Disney quotes keep my life and real estate business in focus:
"Around here, however, we don't look backwards for very long. We keep moving forward, opening up new doors and doing new things, because we're curious and curiosity keeps leading us down new paths."
"It's kind of fun to do the impossible."
(And yes, that is a photograph...Of a Mickey Mouse clock that I have in my house.)
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
In spite the economic downturn of the past few years, the community of Blaine has continued to grow and expand in the north metro of the Twin Cities. Just drive down Highway 65 and see just completed Main Street (125th) overpass to get an idea of how the significant changes have affected the community. Though housing construction had slowed during 2008, it has not stopped and continues to affect the 2009 market. New developments expand the housing base, especially in the townhome and lower level price points. Conveniently located along 35W and Highway 65 and connected by Highway 10 just north of the Twin Cities, Blaine is an attractive location for both business and residential development. The community is served by three school districts; Anoka Hennepin District #11, Centennial District #12, and Spring Lake Park District #16. Blaine is best known for the National Sports Center a sport and meeting facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.
Builders' incentives and lender mediated home sales have required home sellers to be very competitive with housing prices making homes in the Blaine area extremely affordable. As I predicted this affordability is continuing in 2009. It seems a builder or two has finally caught on that under $200K is the price point where the bulk of the buyers are as there are single family new construction homes in Blaine UNDER $200K for the first time in years!
While the homes moving the quickest in Blaine continue to be in that under $200,000 price point, we are finally starting to see a little more movement in the $300K-$600K priced homes (the over $600K market remains pretty static). My guess is that all the first time buyers have bought up a few of those starter homes owned by traditional sellers that are now able to finally move up to the next price point.
Cumulative days of the market (CDOM) are pretty consistent in the lower price points. But notice the high CDOM's for high valued homes...475+ days on the market is a very long time. With 55 homes on the market above $500,000, there is currently almost 3 YEARS of inventory!
Additionally, the $8000 first time homebuyer tax credit really affected the inventory levels in the lower price points. Looking at current inventory levels and the rate of sales (including pending sales) for single family residential homes priced under $200,000, there is about 3 months of inventory for single family homes in Blaine as it stands today.
Lower priced townhomes in Blaine have similar statistics with very low inventory. Of the townhomes and condominiums on the market in Blaine, roughly 25% of those sold were new construction. Townhomes are still a popular option for first time homebuyer in the Blaine area and builders price incentives have affected the market, as has lender mediated pricing. The average price of Blaine townhomes sold has dropped significantly in the first half of the year. Existing townhome sellers must make their prices very attractive to compete with the aggressive lender mediated and builder pricing. Townhomes under $200,000 have about a four month absorption rate but higher priced units have well over a year of inventory.
Average Sales Price of all homes sold in Blaine 2008 vs 2009 to date:
All Homes $225,300 in 2008 vs $194,321 in the first half of 2009
Single Family Homes $253,143 in 2008 vs $211,725 in the first half of 2009
Townhomes/Condos $171,218 in 2008 vs $149,652 in the first half of 2009
Average Cumulative Days on Market in Blaine 2008 vs 2009 to date:
All Homes 154 in 2008 vs 159 in the first half of 2009
Single Family Homes 150 in 2008 vs 155 in the first half of 2009
Townhomes/Condos 162 in 2008 vs 172 in the first half of 2009
2nd Quarter Blaine residential real estate statistics for single family homes:
Under $200,000~113 Active Listings (20 Disclosed as Lender Mediated), 50 Pending Listings, 54 Sold Listings, 121 CDOM (New Construction Subgroup 1 Active, 1 Pending, 0 Sold)
$200,000-300,000~94 Active Listings (9 Disclosed as Lender Mediated), 23 Pending Listings, 31 Sold Listings, 162 CDOM (New Construction Subgroup 17 Active, 6 Pending, 6 Sold, 298 CDOM)
$300,000-$400,000 ~37 Active Listings(2 Disclosed as Lender Mediated) , 13 Pending Listings, 9 Sold Listings, 175 CDOM (New Construction Subgroup 13 Active, 7 Pending, 5 Sold, 116 CDOM)
$400,000-$500,000 ~ 26 Active Listings (2 Disclosed as Lender Mediated), 1 Pending Listings, 8 Sold Listings, 484 CDOM (New Construction Subgroup 8 Active, 0 Pending, 2 Sold, 272 CDOM)
$500,000-$1,000,000~ 29 Active Listings (3 Disclosed as Lender Mediated), 3 Pending Listings, 2 Sold Listings, 496 CDOM (New Construction Subgroup 7Active, 1 Pending, 1 Sold, 170 CDOM )
$1,000,000 and Up ~1 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 0 Active, 0 Pending, 0 Sold)
2nd Quarter Blaine residential real estate statistics for townhomes and condos:
Under $200,000~ 110 Active Listings (12 Disclosed as Lender Mediated), 43 Pending Listings, 42 Sold Listings, 162 CDOM (New Construction Subgroup 13 Active, 10 Pending, 8 Sold, 313 CDOM)
$200,000-300,000~24 Active Listings (2 Disclosed as Lender Mediated), 2 Pending Listings, 3 Sold Listings, 325 CDOM (New Construction Subgroup 13 Active, 2 Pending, 0 Sold)
$300,000-$400,000~ 7 Active Listings, 0 Pending Listings, 3 Sold Listings, 150 CDOM (New Construction Subgroup 6 Active, 0 Pending, 1 Sold, 276 CDOM)
$400,000-$500,000~3 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup 3 Active, 1 Pending, 0 Sold)
$500,000-$1,000,000~ 2 Active Listings(1 Disclosed as Lender Mediated), 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)
For additional information on any current Blaine real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 4/1/09 through 6/30/09.
Articles on Real Estate, Lakeshore and Minnesota that might be of interest:
Looking to Buy or Sell a home in Blaine, MN? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Continued low interest rates and the $8000 first time home buyer tax credit continue to build on the more positive trend and path out of the proverbial real estate woods for the Minneapolis/St. Paul real estate market. According to the Minneapolis REALTORS® Association's June Monthly Skinny, the positive signs continue that the Twin Cities market is moving out of the woods. Overall inventory is at 7.6 months currently (a balanced market would be 5.6 months). But while lender-mediated inventory stands at 5 months, traditional homesellers face double the competition with 9.9 months of inventory. The supply of bank-owned and short sale homes is down considerably. Another indicator that we are marking a path to recovery is that pending sales have increased for the eleventh month in a row….up 17% in May 2009 compared to May 2008. No doubt the $8000 first time homebuyer tax credit has played a role in energizing the Twin Cities real estate market.
Not to be out done by our friends on the west side of the Mississippi, the St Paul Area Association of REALTORS® (SPAAR) has a premier edition of their own Twin Cities real estate market video. In the just released, Market Beat, SPAAR indicates this is the perfect time for first time home buyers due to the trifecta of affordability, low interest rates and the $8000 tax credit! Lower inventory and more pending sales has had a positive effect on the sales price of area homes. To take a look at the entire May Market Beat, Click HERE to go to the SPAAR website. On the right side of the page look for the “Related Media” heading and click to view the entire video. (Hopefully SPAAR will be posting their informational videos on YouTube soon so I can embed and make it easier to watch…until then, this is the process.)
The positive signs in the real estate market are the entire 13-county area and the north metro is no exception. First time buyers have been in the market for the last couple of months and multiple offers on well priced homes under $200,000 has become common place. Just yesterday, I tried to set up several homes in the Hugo and Forest Lake area for a first time buyer….6 of 10 homes that they wanted to see were under contract, had offers or were sold pending inspection. As those first time homes sell, move-up buyers are finally able to take advantage of the market. I am continuing to field questions daily from excited first time Anoka County buyers on the specifics of this unique $8000 Tax Refund opportunity. (If you have a question call on the program, just let me know with a call or text to 651-336-7073 or just send a quick email.)
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
In the past, I have received numerous testimonials from home buyers ecstatic with their new dream home and happy parents of first time homebuyers. I love receiving these notes from clients...as most real estate agents do.
I recently started handing out a client satisfaction questionnaire. In addition to a 1-5 rating scale for service, I have some open ended questions on what my clients had to say about working with me. Here are a couple of responses that I received this past month. I LOVE this type of feedback...best thing since sliced bread, as they say.
"We were very satisfied with your service when we bought our home and will recommend you to our friends and relatives. The best thing about working with you is that you were very likable and NOT pushy!" Bob and Gail W. of North Branch
"After a period of internet research, I was impressed by the type of feedback you were giving everyone on selling their home.
You were straightforward, honest, down to earth and extremely hard-working. The fact that you were able to sell our townhome in the worst market in decades speaks volumes about the way it was marketed.
Teri, we couldn't have chosen a better person to work with us. We were very pleased with the attention and effort you put into selling our townhome. Thank you. Thank you. Thank You!" Brian and Dawn O. of Chaska, MN
More Testimonial Articles that may be of Interest:
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Imagine for a moment the following scenario: After months of searching for the perfect place to call home, you wrote an offer on a picture perfect lakeshore rambler in Ham Lake, Minnesota. After a little negotiation, the offer was accepted and with the inspection over, you are on schedule to close in 60 days.
Three weeks prior to the closing, straight-line winds blow through Anoka County. Concerned, you drive up to your dream home and see that the picturesque oak trees that had given the home character have been uprooted. Worse yet, one of the huge trees fell onto the house severely damaging the roofline. You are devastated as this was no longer the dream home you wrote an offer on a few weeks ago. So, what happens now?
Risk of Loss is one of those "boiler plate" clauses on page four of the purchase agreement used most often in the State of Minnesota. Being preprinted, some agents and/or their clients will gloss over this clause but it is very important to understand, as is every other line in the document you sign to buy a home.
Line 147 clearly states that the risk of loss due to any reason whether an act of God or the acts of vandals will be the responsibility of the seller from the time the purchase agreement is signed until the date of closing. That means if there is a fire or accident the seller is required to bring the home into the condition that it was in at the time the contract was written and signed.
So if that temperamental decade old dishwasher goes out, the seller would replace it. If a neighbor backs over the mailbox at the end of your driveway, it is the seller who must repair the post and replace with a new one. Final walkthroughs are essential to ascertain the condition of the home prior to signing the closing documents. But what happens to those irreplaceable picturesque trees that have fallen on the roof? Three weeks prior to a closing, there could be plenty of time for the seller to call their insurance company and have the home repaired. But is it the same house? And more importantly, does the buyer still have to buy the home? In a word, no.
The clause goes on to say that in the case where there is substantial damage to the home or property, it is the buyer's option to cancel or continue with the purchase agreement. In the situation outlined above, which was a real situation that occurred last summer, the landscaping was changed and could not be replaced. The damage to the home caused an insurance claim that would now be reflected in a CLUE insurance report that could affect the ability to insure the home. The buyers opted to cancel the contract as was their option in the clause with all earnest money refunded.
Risk of loss can come into play when buying and selling a home. In most cases the repairs are made quickly to both the buyer's and seller's satisfaction and the contract will close on time. But when the property sustains significant damage, the buyer has the option of continuing to closing or walking away from the deal. Boilerplate or not, Risk of Loss is an important clause to understand when buying or selling a home.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
In the late 1990's, before home prices went crazy, my family came across a home being renovated on 3 acres in the country. It was a bit of a drive from North St. Paul and Maplewood, the quiet little suburbs where we had spent most of our lives. But there was something intriguing about the beautiful landscape with dozens of towering oaks and pines. We loved the idea that our children would grow up in an area where they could climb trees without the worry of power lines and could play hide and seek and capture the flag in the woods in our own yard. We were fortunate that we made the leap to rural life affordably. Suddenly, the price of Minnesota acreage skyrocketed. Many of our friends wanted to join us in the country but it was cost prohibitive.
Not anymore. Living on acreage is affordable once again. Hobby farms and acreage properties were not immune to the mortgage crisis and subsequent foreclosure fallout. Currently there are some amazing values on Minnesota acreage that might coax a few more city-dwellers to make the leap.
As of today, I found 42 bank-owned acreage properties in southeast Anoka County, southern Chisago County, northern Ramsey County and Washington County with homes and at least 2 acres. There were 22 homes on 2.5 to 4.9 acre parcels, 11 homes on 5-9.9 acres and more homes on 10+ acres. Some were as close in to the city as Maplewood and Lake Elmo. Others were a bit further off the beaten track in communities including St. Francis and Shafer. But if you are looking for a deal on acreage, now is the time to buy.
Here are some of the deals I noted:
· Turn of the Century classic home on 6.4 acres in North Branch for under $50K. · 2005 Blt home on 75 acres in Shafer for under $290K · 5BR/3BA built in 99 on 11+ acres located in East Bethel priced at $274,900 · 1983 Columbus Rambler set on just over 10 Acres for $171K · 5Acres in Hugo with late 60's multi-level...bank-priced less than $180K. · Almost 7 Acres in Maplewood with 3BR/1BA 1970's home for $309,900. · Stillwater turn of the century classic home on 2.75 acres for under $190K · 4+Acres in Ham Lake with 70's rambler for $144,900. · 6 Bedrooms and 5 Acres in Blaine for $300K. · 1999 Rambler on 10 Acres in North Branch bank-priced at less than $125K
The astounding prices are enticing but many who consider leaving the city have questions about life in the country. For those who have never lived in on acreage, here are answers to the Top Ten most commonly asked questions regarding rural life.
What is a Septic or Private Sewer system? Most rural homes have a private septic system. Not all systems are created equal. They are designed for the specific property and size of the home. Even a new septic system can fail if not properly maintained. How do you know if the septic system is working? Require the seller to supply a report of compliance from a certified septic inspector in your purchase agreement. If you have never lived on a home with a septic system, it is important to educate yourself on how to best maintain your system. Additional information on Septic Systems.
Does the home have access to city water or a private well? Do I need a water softener or other water treatment system? Families new to the concept of well water have many questions regarding its safety. Traditionally, well water is tested for bacteria and nitrates at the time of sale by the seller. A lead test for well water is required only for FHA loans. If you want the well test for your property to include other contaminants, it must be specified in the purchase agreement. Annual water testing is recommended for all home owners with wells. Additional information on Private Wells. Locate your MN Unique Well Number. One question often asked by home buyers considering a property with a private well is about water treatment options available. Many homes with private wells have water softeners to treat the water in the home. Some will go one step further and have a reverse osmosis water treatment system in the kitchens as a drinking water supply. Additional information on Water Softeners and Reverse Osmosis Drinking Systems.
Is there a natural gas supply to the home or will a propane tank be located on the property? Often people looking at acreage will have questions about the huge propane fuel tank located near the home. These tanks are usually see only at gas stations where homeowners fill their small propane tanks for the weekend BBQ. In the country, the large tanks are in many backyards as the source of fuel to heat the home and run appliances. As a fuel source the differences are not noticeable. Propane is the least expensive cleanest fuel if a home does not have access to natural gas. Additional information on the differences between natural gas and propane.
Does the home have access to cable or high speed internet or will a satellite connection be required? Can I get high speed internet through the phone line? Does the property have cable access? What are the alternatives if DSL is not available through the phone or cable lines? Will the new Digital Television come in or will I require an antenna? A few years ago, these were not questions that few people cared about in the rural communities. Today our interconnected world brings these questions to the forefront. There are many homes in Lino Lakes, Ham Lake, Forest Lake and East Bethel that do not have cable lines or high speed internet available through the phone lines. If your family lives on the internet and could not live without a high-speed connection, it is essential to find out whether a home has access. Also, the new digital television can require additional antennas in areas too far from the signal or on a property with dense trees. Ask questions prior to writing an offer if being connected is important to you. The alternatives can be significantly more expensive.
Is the road frontage paved? If the road is not paved, how often is it maintained by the city/county? When our family first moved to our home to a rural area in MN, the road was not paved. We were nearly a mile down this soft, sandy dirt road. We moved in the late fall and had no idea of the extremely poor condition of the road in the April rain of spring. It was treacherous at times. The regrading was done by the city on a schedule so we would have a pot-holed road for days. Our road has been paved for years now but the memories still remain. If you are considering acreage, remember many rural roads are not paved. Try to visit the property on several occasions and under differing conditions to determine the condition of any unpaved road. Talk to the city and county to understand the maintenance schedule for the road. Also be sure to ask if there are any plans to pave the road in the future and what would be assessed per property owner for the project.
Is hunting allowed? In some rural areas hunting is still allowed depending on the amount of acreage, the development restrictions and city and county rules. It was a rude awakening for us to discover our neighbors were allowed to hunt. Imagine our shock that first deer opener when the hunters came out in blaze orange to hunt in the woods next to our home. The property owner, at our request, posted the land and the hunters left. The land has since been developed but it is something everyone moving should understand before buying any acreage home. Check with the city and county for all ordinances regarding firearms.
Where are the schools? The public school districts in rural communities can be vast. In the Forest Lake School District 831, students come from communities as far west as Ham Lake, as far south as Lino Lakes, as far east as Scandia and as far north as Stacy! It you drive from the western border to the eastern border of the district, it takes almost 45 minutes, one way! There is only one high school in the district, so your children's best friend from school could literally live almost an hour from your home. But the opportunities to get to know kids from all areas can outweigh any negatives. Bottom line, it pays to research the school district prior to any housing decisions. Also school alternatives can be limited. Communities in the city have dozens of private and charter school options. These options are much lower in rural areas due to the smaller population. Additional information on Educational Alternatives in the North Metro.
Can we have a bonfire and burn all this debris? There are strict state and local restrictions regarding burning of construction debris and yard waste. There are restrictions on the size of the fire and what can be burned. Many construction materials cannot be burned because they release chemicals into the air that pose an environmental hazard. There are times of the year where burning is only allowed by permit and sometimes not at all. Before burning it is best to check the local restrictions as well as the DNR. More information on MN Fire Restrictions.
What about emergencies? How far to the nearest hospital? Where is the nearest fire station? Who provides police protection? No one wants to think about these things when moving but accidents and illnesses do happen. It was a long hour drive to Children's Hospital in St. Paul when my then 6 year old son fell and needed stitches in his upper lip. If the nearest fire station is staffed with volunteers and over five miles away, it will seem like a lifetime during those 5-10 minutes while you wait for the fire truck to show up to YOUR home. Many rural communities do not have police officers but are patrolled by the county sheriff's department. Understand your options before an emergency occurs because it will likely take a bit longer if you are in a rural area.
Wow! There are a lot of trees! Do I have to worry about oak wilt? Oak wilt is a big concern in Anoka and Chisago counties. Many of the communities have information and programs to help protect and save the oak trees from this disease. Additional information regarding oak wilt.
Looking for your deal on Minnesota Acreage? Let me assist you in your search for your perfect and affordable country dreamhome. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
The United States flag flying over White Bear Lake, Minnesota. Today, June 14, is the day to fly the red, white and blue and celebrate one of our country's symbols of freedom.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?
Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this weekend:
New Construction Foreclosure on Coon Lake! 60ft of shoreline and brandnew 4BR/2BA on north side of Coon Lake in East Bethel. Builder listed at $600K;bank prices nearly ½ off at $309K.
Million Dollar Exec Home in the Lakes. 5600 sq ft of luxury! Blaine 2 story with 5BR/5BA foreclosure priced under $615K.
4000 Sq ft 2 story on Ham Lake acre. 3BR/3BA with upgrades. Builder sold for $469K in 2003. Bank asking $285K
4+ Beautiful Acres and Huge Master Suite in Columbus. Originally sold in 2003 for $295K...Bank asking $170K.
East Bethel Acreage with underground sprinklers, master suite and 4BR on one level. 4BR/4BA with 3 car built in 2005 and sold for $393K just listed this weekend by bank for $238K!
Bank-owned New Construction 5BR/4BA Rambler in Ham Lake. Executive home with 5 car attached garage. Tax valued at $589K bank asking $499K includes heated garage, wet bar, landscaping!
3BR/3BA Brand NEW St. Francis Townhome for under $100K! Former model with 1400 sq ft finished with possible seller appliance allowance. Originally priced at over $200K.
If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.
Seven Tips for homebuyers considering a foreclosed home:
Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.
Banks reject lowball offers...often with no negotiation. They are a business and know the value of the asset they are selling.
Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
Banks sell homes AS-IS. What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.
Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.
Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.
Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.
Are YOU ready to get a GREAT DEAL on a foreclosed home?Let me be your professional REALTOR®! If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?
Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this weekend:
2003 Built Forest Lake 2 Story. Picture-perfect 3BR/3BA/3Car home with over 2100 square feet of living space finished and unfinished basement. Last year listed at $425K bankpriced at $255K.
4BR on one level 2Story in Landings of Summerfield Forest Lake. Built in 2006 with all the bells and whistles...Master suite, granite counters, maple cabinets. Tax valued $430K...Bank asking $309K.
Lakeshore Beauty!! Almost 4700 sq ft finished, 6BR, 2 story with bank of windows to view Forest Lake. Previously listed at 700K, bank listed for under $460K.
2BR/2BA end unit townhome with vaulted ceilings in Forest Lake. Originally sold in 2005 for $173K...Bank asking $119K.
Rambler on 1/2Acre with Egg Lake View in Hugo! 4BR/3BA with 3 car built in 2005 and sold for $539K now asking $449K and not even in foreclosure!
4BR/2BA on 5Acres in Hugo. Sold in 2006 for $345K bank asking $180K includes seller pd new septic system!
New Construction Home in Victor Gardens Hugo with 2100 sq ft finished tudor with creek view priced originally at just under ½ a million but bank has listed for $369K.
West Lakeland Executive 2.8 acre Estate. 4BR/4BA/3car 2story home with nanny's quarters and inground pool. Originally asked $900K, bank priced $580K.
If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.
Seven Tips for homebuyers considering a foreclosed home:
Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.
Banks reject lowball offers...often with no negotiation. They are a business and know the value of the asset they are selling.
Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
Banks sell homes AS-IS. What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.
Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.
Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.
Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.
Are YOU ready to get a GREAT DEAL on a foreclosed home?Let me be your professional REALTOR®! If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Theresa "Teri" Eckholm/REMAX Specialists assists Minnesotans to find their way home with helpful tips and quality service. Dedication to customer service has made Teri the REALTOR® of choice for families in Blaine, Forest Lake, Ham Lake, Lino Lakes and Wyoming areas. Licensed in MN.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
stination when going for a Sunday a drive in the country in days gone by. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in
It appears the high end homes will continue to struggle into 2009 with virtually no sales for homes priced over $500,000. All of these properties are lakeshore and many are beautiful executive residences on Forest Lake's p.JPG)
In the past, I have received numerous testimonials from home buyers ecstatic with their new dream home and happy parents of first time homebuyers. I love receiving these notes from clients...as most real estate agents do.
Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing? 
Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing? 
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