New windows, three garage stalls, huge porch, laminate in dining and living room. Freshly painted, paver patio, updated lighting, custom backsplash, firepit.
Shakopee is back at it and adding to the entertainment hub they are known for in the southern part of the Twin Cities. Currently Shakopee real estate is home to many venues including Canterbury Park, Valleyfair, Murphy’s Landing. Owner of Dangerfield Gus Khwice and Michael Orensteen owner of MinneHaHa in Burnsville, is planning to move the comedy club to the lower level of Mr. Khwice Dangerfield’s restaurant in Shakopee. Dangerfield’s has the food to bring people in for a nice dinner and a 90 minute show. An article from the Shakopee Valley News states, “For $25, people can watch a 90-minute show and also select a dinner entrée, ranking from whiskey sirloin to crab meat stuffed tilapia. Tickets to just a show will be $10 or $13.” To me that is a steal of a deal. My friends and I usually head to downtown Minneapolis to catch a show at Acme Comedy Co. Looking on Acme’s website; prices seem to be close to Dangerfield’s quoted prices ranging $15 for just a show, and $30 for dinner and a show. The next performer at Acme is Dwight Slade, which I am not familiar with, but I hope to see Dangerfield’s grow and bring in some top talent. My Mother, Carol Scott, loved going to Dangerfield’s for dinner and I am sure she would have loved the opportunity to have an adult entertainment venue so close to home. Gus Khwice was a great man to her and I respect and support his business ventures and wish him the best of success. Let’s hope Gus keeps prices for beer down, we get lots of laughs in and the comedy club can continue to thrive. Now if the Minnesota Vikings would just move their stadium to Shakopee and buy a little real estate down here, maybe we could keep generating some more tax dollars to help pay for our future second high school.
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In reference to a previous blog post I had about Shakopee schools, it sounds as though the Shakopee school board will have some tough decisions ahead of them. I think the most crucial topic currently on the table before next school year is configuring the grade levels. They will need to decide on a Kindergarten center, 6th grade center or some other option I imagine sometime in the near future as teacher will need to be relocated and settled with the new elementary school set to open for the 2011-2012 school year.
In regards to the possibility of a new high school in Shakopee, some within Shakopee are worried dividing Shakopee Schools would also divide the town. Some are concerned this would be similar to when the mascot was the Shakopee Indians and the transition to the Sabers. Many propoents and long time Shakopee residents wanted to keep the Indians. Shakopee, which has always had a small town feel since I lived here, is rapidly changing. Many areas have expanded and built a second high schools successfully. Lakeville North/ South, Chaska/ Chanhassen, Apple Valley/ Eastview and Woodbury and Eastridge to name a few. I’m sure Shakopee will take into consideration ideas current resident have, but I ultimately see Shakopee within 5-10 years with a second school. I also see Shakopee expanding their business sector as well with an increase of Shakopee real estate land selling and builders again putting up many homes after a previous lag.
We have seen a population explosion of Shakopee real estate since the opening of the highway 169 bridge, and with that our town has become much more diverse in the process. Shakopee will continue to grow with the amount of vacant land around for building residential homes, commercial land and industrial areas to bring in new business and more resident. 10 years from now the Shakopee real estate landscape, Shakopee schools and the commerce will be very different, but I believe improved much like where my sister lives in Maple Grove. Look at the Country Rd 42 and Hwy 113 intersection on the border of Prior Lake and Savage, or the business sectors of Woodbury and Maple Grove. These positive additions brought tons of new residents to those areas and their populations have exploded in the process. I think it would be great if Shakopee turned the HWY 69 and 169 area into a shopping mega center and revive the movie theater. The east side of town I think could also use a grocery store with such high traffic at the local Cub Foods.
I think Shakopee has so many opportunities in the future and building another high school will only expand our possibilities.
There are many townhomes in the Shakopee real estate market. Of the 301 current active listings 126 are townhomes, twinhomes or condos which represent almost 42% of the current market inventory. The Shakopee real estate townhome market is very affordable now compared to past markets especially after seeing values drop significantly over the past few years. Currently of the 126 active Shakopee townhomes, the average sales price if hoovering just over $129,000 for a 2+ bedroom 2 1/2 bath townhome built in 2001 with over 1550sqft. 4-5 years ago these Shakopee townhomes would have sold in the $190’s. If you are searching for a home you need a way to narrow down all your choices. The best options in the Shakopee real estate market I feel are in the 3+ bedroom 3+ bathroom townhomes with at least a 2 car garage built after 2000 and priced competitively under $125,000. If you were to narrow down the Shakopee real estate market with that search criteria you would still have 15 homes. To view all Shakopee real estate listings or homes in other areas, go to my website www.MinnesotaListingSearch.com
That is a question many Shakopee real estate buyers are asking these days. It’s hard to look at this market and think that we are not close to the bottom if not there. It is true the Shakopee real estate market will see many more foreclosures over the next few years, however currently most pricing is cheaper than if you were to rent real estate in Shakopee.
The other day I looked at a home behind St. Francis hospital in the Pheasant Run neighborhood. The home was price at $162,500 and really all that needed to be done was paint and carpet. This home was built by Keyland Homes and years ago in the Shakopee real estate market this home would have sold upwards of $300,000. Today, given values of homes in shakopee, this homes was priced almost 50% lower.
Generally speaking if you were to take estimates of a full price offer of $162,500 with the buyer putting 3.5% as a downpayment, current taxes at $2678 and annual insurance of $900 the estimated monthly payment would be only $1225 given a 4.75% interest rate. That shows you right there where the Shakopee real estate market is it today, a bargin. If 5 years ago the value for this home was even $275,000 and interest rates were one percent higher at 5.75% and taxes the same, your payments would be a staggering $2025.
This shows you what type of buying power there is out there in the market today. I see many Shakopee townhomes that sold in the $190,000’s a few years ago now priced under $100,000. You could buy these townhomes today, rent them out and cashflow the homes at $300-400 per month! The opportunities are endless and we may not know truely if we are at the bottom of the Shakopee real estate market, but we do know now more than ever pricing is great. So if you are starting your Shakopee real estate search today, have your loan officer run the numbers and realize truel how low interest rates are in this market and what it means to your botom line.
4BR+bonus rm on upper lvl.Huge master w/garden bath option&walk in clst.2 lvng rms on main lvl,1 w/gas FP.9Ft ceilings on main lvl,main flr lndry,laminate in KT, DN & FY.KT has break. bar & SS applcs,center island.Huge LL rec rm w/separate rm for theater. Potential of 3rd garage stall being added and verify
Are you done searching the Minnesota MLS looking for the perfect setting only to find you need to build with the developers approved buiders? Look no further, the perfect development is right in front of you. Spring Lake Estates is about 3-4 miles South of Shakopee near the border of Prior Lake on Marschall Rd. This is a peaceful country setting close to Spring Lake. Spring Lake Regional Park is within walk distance and the development has 30 private docks that were available for purchase. Initially this was a Toll Brothers development with pricing ranging from the $600-$1m+ range and the Toll Brothers model sat at $1.3 million. However at the turn of the market inventory set stagnant and lots were foreclosed on. Now lots can be purchased as low as in the low $60k’s
Many lots remain open to bring your own builder. Building covenants for sqft are 1850 on the main level for a rambler and 2400 sqft on the upper two floors of a two story. I think this is a fantastic neighborhood and prime Minnesota real estate.
If you are interested in a lot pricing list for Spring Lake Estates, I would be happy to provide the information.
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Don’t panic!!! MN townhomes can be great, I lived in one for five years and loved it. With almost 10 years of experience now and seeing a more depressed real estate market than in the past, competition is tough. The Shakopee Real Estate market has a large inventory of quality townhomes ripe for the picking. I walked into one MN townhome last week that was PERFECT for $95,000, built in 2006!!! Now most first time buyers tend to lean towards townhomes rather than single family for a few reasons. 1) they don’t want to do yard work 2) they don’t want to buy everything to do yardwork 3) pricing typically is lower 4) you generally can buy a newer townhomes without needed repairs.
In the aggressive market we are in with so much more buying power than in the past, I now advise clients when looking at MN townhomes to try to look for four things 1) two car garage 2) At least three bedrooms, ideally also with an additional loft space 3) at least three bathrooms. 4) basement There are many reason for looking
Private Master Bathroom
When looking at townhomes in MN, having a private bathroom may be nice for privacy, living and for resale. Townhomes in MN typically have two bathrooms, a half bath on the main level of the home and then full bathroom shared with the bedrooms on the upper level. Usually the only exception I see to this is with many one level townhomes in Minnesota where I will usually see a full bath bath in either the master or somewhere else on the main level and then also a 3/4 bath as the reciprocal. I think finding
Three Bedrooms and an Additional Loft
I like to try and find townhomes in MN with three bedrooms for a few reasons. I see a lot of buyers grow out of townhomes a lot quicker than the anticipate, and having a third bedroom buys them more time. Obviously given the market you are buying a lot lower than most buyers did at the peak, and that buys you more flexibility as well. If for some reason you could not sell, as a lot of people can’t in the current market, you always can turn to renting the home out. Having the third bedroom would easily pocket you more money per month and make it easier to rent.
Two Car Garage
The larger the garage, the better.One garage stalls and MN townhomes don’t mix well with the current market because there is SO much inventory with a two car garage. Even with a two car garage you might not be safe. Builders will literally cram a garage that is just as wide as the 16 foot door and call it a two car garage. Especially for couples with two larger cars, this can present a problem you don’t realize until you come home from closing and try to unload things. In an ideal world, try to find a 22-24 foot wide garage. Depth & Height can also cause problems for someone with a large truck or van. I have had many clients test the garage to see if their truck can fit, only to find out it does not. When looking to resell, this just might eliminate some of your buyer pool.
Tornado!!! Hide under the…stairs??? Well, Minnesota bring us tornados every year and thankfully most do not touch down to create too much damage. Regardless it always gives us a little more peace of mind heading under ground. Another benefit to MN townhomes that have basements would be they typically feel more like a house as there is multiple living areas for different members of the family.