Shakopee townhome developments comprise an enormous segment of the Shakopee real estate market, and the MLS inventory is brimming with Shakopee townhome short sales listings.
Check out short sale Shakopee townhome listings for sale on the MLS/IDX system:
Bookmark this link for ALL townhomes in Shakopee listed as “short sales.”
Why Are There So Many Shakopee Townhome Short Sales?
There are few townhouses that were built more than 20 years ago, and the bulk of them were built in the early 2000’s at a time when townhome prices were soaring and unsound lending practices were rampant. Many townhomes were purchased with risky mortgage products such as interest only ARMs. Also, many of these homes were purchased with little or no money down, and seller contributions toward buyer closing costs were commonplace, meaning that many townhome owners were actually buying themselves into negative equity situations right at closing. Shakopee townhomes seemed to be going up everywhere, and soon it became apparent that these types of homes were overbuilt. Then the economic downturn came, ARM mortages were adjusted upwards, and prices fell. Credit and underwriting tightened up, making it harder for buyers to purchase. Non-stop “the sky is falling” media reports about the real estate market eroded buyer confidence. All of this was the perfect recipe for creating the inventory of Shakopee townhome short sales listings that we see today.
Time to Purchase Shakopee Townhome Short Sales
Fast-forward to the future: The economy recovers, and the population of Shakopee continues to grow. In fact, Scott County is the fastest growing county in the state of Minnesota, and it doesn’t take a real estate guru to tell you that increased population means increased demand, and prices stabilize and begin to climb. It is axiomatic that if you want to make profits in real estate, buy property where the people will be. Inventory of Shakopee townhome short sales and foreclosure listings begins to decline, placing yet another upward pressure on prices. Interest rates begin to go back up and buyers who were “sitting on the fence” start to get nervous, so they jump off the fence and buy.
Timing is important too. Warren Buffett and Donald Trump are both telling us that the time to buy real estate right now. Warren Buffet claims that he finds the most opportunity “when there is blood in the streets.” If you have been thinking of shopping for Shakopee townhome short sale listings, don’t make the classic investor’s mistake of waiting until prices go up. Also, don’t make the classic borrower’s mistake of waiting until prices go up. Owners of Shakopee short sale townhome listings have taken a beating from market conditions, but if you are a home buyer, your stock is rising. Shakopee townhome short sales are presenting you with a buying opportunity of a lifetime!
Short Sale Townhomes in Shakopee for Sale
If you are looking for a Shakopee MN townhouse, the selection is broad and prices are great. According to the Northstar Regional MLS at the time of this post, there were a total of 37 Shakopee short sale townhome listings, with prices running the gamut from $64,900 to $270K, at an average list price of $121,000 and an average finished square footage of 1640 sq ft. That’s a lot of home for the money. In fact, you can find detached Shakopee townhomes in Southbridge offering 1800+ square feet of living space for only 110K, and side-by-side 3 br townhouses offering 1576 square feet and priced in the 90’s The best part about it is that most of these townhouses are in mint condition, in spite of their distressed status. On the west end of town near Tahpah park, you can find sharp BrightKeys-built side-by-side townhomes in Stone Meadows boasting low HOPA fees of $110 per month that include everthing. And if you really want to ride the demographic wave of baby boomers with bad knees that are close to retirement age, an all-one-level Pulte Built townhome with a Great Room, spacious, sunny kitchen, sun room, main floor laundry room, and attached garages can be found right across the street from the BrightKeys development, priced in the mere $130’s!
Some sterling examples of the tremendous deals on Shakopee town short sales you can find are some classy detached two story townhomes in Dean Lakes addition with a traditional look, five bedrooms, four baths, granite countertops, stainless steel appliances, extra large cabinets, maple flooring, gas fireplace, master bath with whirlpool tub, and many other upgrades and special touches.
It’s All Good!
It’s all here, and it’s all yours at an incredible price, with financing available at historically low interest rates. Whatever you are looking for, you will find it in Shakopee, and some of the real estate deals right now are Shakopee townhome short sales. Contact your Shakopee short sales expert now for more comprehensive information.