In Minnesota, Land of 10,000 Lakes...well 12,000 actually, there are bound to be one or two lakeshore owners who have had a tough time in this economic downturn right? I did a search today* for lakeshore homes that are currently bank-owned or listed as a foreclosure and found nine current listings for lakehomes in Anoka County.
Priced from $134,500 for a 1983 built home on Round Lake in Andover to $799,900 for an East Bethel home built in 2007 on Coon Lake, there is a handful of lakeshore foreclosures to choose from. Looking for an opportunity on a full recreational lake? There is a home on channel shore like to Otter Lake listed for $279,900. This one has frozen pipes so plan for a bit of additional work. There are two opportunities on Coon Lake in East Bethel priced at $339,000 and $799,900. There is a 4300+ square foot home on the smaller Lake Amelia in Ham Lake for just under $600,000. And don't forget the previously mentioned home on Round Lake for the bargain price of $134,900.
For those who don't mind a smaller lake that is more for the view than activities, there are options in northern Anoka County on Pet Lake in Linwood, or to the far west on Pinnaker Lake in Burns Township and two almost new homes in the Blaine development, The Lakes, on Aspen Lake.
Note that this list does not include any homes currently in a short sale position or if the current homeowner did not list the home as in foreclosure. More opportunities will continue to come on to the market throughout Anoka County. And traditional sellers of lake homes have adjusted their pricing to compete with the distressed properties, so there are many affordable options for your piece of Minnesota shoreline.
Many of these are not your average foreclosures but can be transformed from distressed to fabulous with a bit of elbow grease. As with any REO home some of these lakeshore foreclosures will need more work than others but with so much potential, maybe it is time to do more than just dream of living on a Minnesota lake!
Need to learn more about the size, depth and water quality of these lakes? Check out the links to the DNR site for each. Note: As Aspen is a small, man-made lake it is not listed in the Minnesota DNR Lake Finder.
*Search done using information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. on 2/17/2009.
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR® to find that perfect piece of shoreline, give me a call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. 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.
Buying a Home? Check out my new HOME BUYER'S BLOG!
Copyright 2009 Teri Eckholm http://www.terieckholm.com/
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