Another Shakopee Home SOLD! | Classics Southbridge

We just recently closed this Shakopee Home in the Classics at Southbridge. This Shakopee home sold for $223,000 and the seller paid $8920 in buyer closing costs.

If you are thinking of listing Shakopee real estate of your placing your Shakopee home fo sale make sure to call Tom Scott of Remax Advantage Plus and the Twin City Real Estate Team. 612-384-2178 or TomScott@Remax.net

How Many Homes Do Shakopee Real Estate Agents Sell Annually?

I think many consumers in the market place tend to think that Shakopee real estate agents tend to sell 20, 30 or  even 40 homes per year. According to the National Association of Realtors, average real estate agents sell eight homes per year averaging a sales volume of $1,100,000.  I think the industry has painted a picture that Shakopee real estate agents are selling homes all day long. Shakopee Realtors tend to have many roles as they are almost running a small business in many ways. Typically the real estate brokerage hold a Realtors license, but many expenses and activities are up to the individual real estate agents. Some of the activities in a typical day may be:

  • Finding (prospecting) new business
  • Maintaining current listing inventory
  • Preparing individual marketing materials
  • Preparing listing marketing materials
  • Accounting for their real estate business
  • Website advertising
  • Marketing current listings
  • Managing the needs for their current clients

Often times Shakopee real estate agents have commission splits with their broker. Their real estate broker who holds the Realtors license may put them on a commission split with the brokerage where some newer agent could potentially be on a 50/50 split with their office and an experienced agent may be on a commission split anywhere from 50-99%. Typically with the higher commission splits there will be a “desk rent” in which the Shakopee real estate agents many need to pay a fee each month to the broker. Some of those fees could vary but from what I have seen it’s anywhere from $200-1650 per month. Some real estate companies will also charge transaction fee to their agents per transaction that may be $50-$100 and also take out corporate fees ranging from 1-3% of the gross real estate commission. Obviously these are all examples of what I have personally experienced in my career and may or may not reflect the industry as a whole because I do not know the structure of every company.

Shakopee real estate agents also have many fees they incur such as:

  • Marketing materials
  • Postage
  • Annual Licensing $450 per year
  • Supra Key Dues $152 per year
  • MLS Access Fee $114 per quarter
  • Errors and Omission Insurance $400 yr est
  • 15 Hours of Continuing Education each year
  • Signs
  • Sign installs and removal, typically $40-60 per listing
  • Business Cards
  • Optional Website IDX search $800-$1200 per year
  • Professional photography, which we sure know not many Shakopee Realtors take care of this!
  • Virtual Tours $89-$199 per listing

Average Shakopee real estate agents can easily spend upwards of $10,000-$15,000 per year in real estate related expenses. One thing we at Remax Advantage Plus and The Twin City Real Estate Team have done is to leverage our time and the real estate team philosophy. We have hired interns to do most of our marketing and prospecting for new business so that we may concentrated on client care and taking care of the needs of customers we are working with. We understand how important  the purchase of a home can be and we want to make sure to accommodate. Knowing the urgency of the Shakopee real estate market having only one Realtor can be a hang up if they are busy. Say a brand new Shakopee listing comes on the market and your agent is out of town or busy. You need to get in that house or it could sell! Having a team gives us the ability to have multiple Shakopee real estate agents on our team with the availability to show you the home. Problem solved! If you are search for a Shakopee home for sale make sure to contact us at the Twin City Real Estate Team.

 

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Re/Max Advantage Plus Shakopee Homes For Sale

1935 Boulder Point, Shakopee, MN MLS #4066531

I  Love this area! Single level townhome for $175,000 that is also a handicap accessible one level townhome. Close to walking paths in a great community. 2 bedrooms and 2 baths, a 12×12 sun roomthree sided gas fireplace and more. Association dues are low! Click the address for more information and photos.

1053 Ramsey Street S, Shakopee, MN MLS#4065953

A well-maintained split-entry home, with one previous owner. Located in a quiet neighborhood, it has a great backyard and is close to shopping, schools, and parks. 3 bedrooms and 1 bath, with potential to finish out the remainder of lower level. Listed at $174,900.

523 Barrington Drive E, Shakopee, MN MLS #4066121

Listed by This custom rambler has 4,000+ square feet, a sunroom, vaulted ceilings, and granite counters. Situated on just over an acre sized lot
with views of a private pond and patio. There are 4 bedrooms and 4 bathrooms and a 3-car garage. Listed at $475,000, this home has a great layout with a lower level theater room and bar. Click the address for more information and photos.

1492 Hartley Boulevard S, Shakopee, MN MLS #4065015

Shakopee two-story in Southbridge development with lots of space for $329,850. The  Southbridge Neighborhood is very community oriented and holds many functions throughout the years includeing an easter egg hunt in the spring and neighborhood nights out. This Shakopee home is move in ready with 5 bedrooms and 4 bathrooms. The main level has a custom office and a large kitchen and don’t forget the deck leading to spacious backyard.

825 4thAvenue West, Shakopee, MN MLS #4064014

Great Shakopee foreclosure price of only $60,000!  This rambler has 3 bedrooms, 1 bathroom and a walk out lower level. It also
has a large eat-in kitchen and a large lower level family room. At this price will sell fast. Great opportunity for an FHA 203k rehab loan program.

1353 Wood Duck Trail, Shakopee, MN MLS # 4062248

I have shown this home multiple time. Great house and with some new floor could show like new. This home is situated on a beautiful nearly one acre lot with mature trees and a huge yard. 3 bedrooms on one level and 3 bathrooms while being listed at only $264,850. The lower level is impressive with an amusement room, entertaining spaces, custom built in bar, and game room! Youi coudl easily put in a fouth bedroom in the lower level. Within in walking distance to the lake and Stonebrooke golf course.

9042 Horizon Drive,Shakopee, MN MLS #4062821

This Shakopee home is stunning with 3,400+ square feet. Come see all the great features of this 4 bedroom, 4 bathroom home. Custom cabinets,
maple floors, Silestone counters, 2 home theater systems, all for $537,900.

If you would like to set up a showing on any of these Shakopee homes for sale email me at TomScott@Remax.net or call me at 612-384-2178

You can also search all Shakopee homes for sale on our website.

With MN Short Sales, Can Cancelled Mortgage Debt Be Taxed?

Without Qualifying for Exemption, Forgiven Mortgage Debt May be Taxed

I always advise you to talk to your account and or attorney as I am not an attorney or account and can not give you legal advice pertaining to MN Short Sales. With hundreds of thousands of homeowners having negotiated loan modifications, MN short sales or been foreclosed upon during the past year, the Internal Revenue Service (IRS) has issued fresh guidance on how to handle canceled mortgage debt during the tax season.  In its latest guidance, the IRS focuses on several key points that MN homeowners  and former owners need to know, especially pertaining to MN short sales. One guideline is just because a lender wrote off a portion of your mortgage debt  doesn’t mean you automatically qualify for special tax treatment during a MN short sale. To the contrary, there are essential tests you need to pass to qualify: The debt your lender canceled during the MN short sale must have been used by you “to buy, build or substantially improve your principal residence.” Anyone who has had mortgage debt cancellation as part of a loan modification or foreclosure should go to IRS.gov and download Form 982 and IRS Publication 4681 for additional filing details. If you think you may potentially have a reason to call due to an MN short sale or foreclosure you can also call 800-TAX-FORM to request copies. Lenders who write off unpaid mortgage balances typically provide borrowers with a year-end IRS form 1099-C cancellation of debt statement, including the amount of the loan forgiven for the MN short sale and the fair market value of the property. If you’ve had mortgage debt canceled but have never received a 1099-C from your lender, get in touch and request it if you want to avoid federal tax hassles. If you need any help with MN short sales we, the Twin City Real Estate Team with Remax Advantage Plus in Shakopee can help. We work with multiple attorneys in the area that offer free consultations to show you your options if you are considering staying in your home, foreclosures or MN short sales.

Shakopee MN MLS Short Sales Are Selling, BUT…..

With all the talk about short sale homes in Shakopee many buyers are wondering what is going onin the current market place. I took a look at only the Shakopee short sales and what their numbers looked like so far this year accornding to the MN MLS. For those looking at the MLS online website, themlsonline.com is NOT the MLS, iot simply is a company just like Edina Realty, Remax or Coldwell Banker however they were grandfathered in to using the term MLS in their name.

SHAKOPEE SHORT SALE INVENTORY & SALES

Anyway accornding to the MN MLS there are a total of 286 homes in Shakopee listed, of those 286 homes listed 86 are Shakopee short sales. One common way homes are listed in the MN MLS, but not on other broker sites are homes that are consider “sold subject to third party approval” whihc means they are a short sale home waiting for the bank to say yes or no. The seller likely has signed the offer as they still own the home, but need approval from the bank. There are 40 homes in Shakopee currently listed as active that have this classification….annoying, I know. There are only 10 pending Shakopee short sale listings that are waiting to close and have approval from the bank according to the MN MLS. It seems half or 2 out of every 3 listings is a short sale which i found this statitic interesting: from January 1, 2011 only 26 Shakopee short sales have closed! Only 26 home in 6 months! With all the short sale listing out in the marketplace these banks need get their acts together.

PRICING OF SHAKOPEE SHORT SALES

I think the pricing of Shakopee short sales is what is contributiong to lower prices for the average homeowner. So many buyer avoid short sale in Shakopee because they can not wait the 3-9 month time frame many short sale homes require. Oddly enough I looked a one niche in Shakopee that has a higher sales price and lower days on market of short sale listings than traditional sales. Shakopee townhome short sales had an average sales price this year of $129,033  with 143 days on the market with only 12 homes closing since 1/1/11. 94 foreclosure and tradtional sales netted $109,531 with 155 days on the market. I do think the foreclosures contributed to bringing this price down, but I can’t explain the shorter time frame, that baffles me. Looking at single family homes brings numbers you would expect.  The short sale listings in Shakopee averaged a sales price of $183,511 with 261 average days on market where the traditional sales averaged a sales price of $221,627 and only 125 days on the market.

SHAKOPEE SHORT SALE REALTORS HELP

If you are looking for a Shakopee Realtor or real estate agent to help represent you in buying a home or selling your home make sure they have the experience required to help. Having a knowledgeable Shakopee realtor who know the ins and outs of the bank short sale process can be beneifical even when purchase as they can know the right questions to ask to make sure eve

Shakopee New Construction – Ryland Homes Glacier Estates Pricing

After the anticipated wait, Shakopee newest development, Glacier Estates, by Ryland Homes released their pricing information.In a follow up to a previous blog post I wrote about Glacier Estates in Shakopee, here is a little more information in regards to your pockbook. With the model home soon to open mid May this should be a very busy new construction development in Shakopee. Ryland homes purchase the remaining 30 or so lots with the Glacier Estates community in Shakopee after College City Homes, Cuddigan and a few other builders back out of the development, some for financial reasons. IN a development that saw sales prices pushing over $600,000 the Glacier Estates development with now be priced much more competitively.

Ryland Homes released the pricing on the five plans they will include in the development ranging from a base of $274,990-$334,900. It appears as though the model home floor plan, The Edgewater, will base at $304,990 and feature over 2750 sqft on the upper two levels. The grand opening for the development is May 11th.

Taken from the Ryland Homes website, here are a list of features they will be including with their homes:

 

Construction Features

  • “I” Joist Floor Framing System with ¾ Subfloor
  • 2 X 6 Exterior Wall Construction
  • 200-AMP Electrical Service
  • Asphalt Roofing Shingles with 25-Year Warranty
  • Carbon Monoxide Detector
  • Electrical Ground Fault Outlets
  • Engineered Roof Truss System
  • Exterior Foundation Insulation
  • Interconnected Smoke Detector System on All Levels
  • Low Maintenance Exteriors
  • Maintenance Free Aluminum Soffit, Fascia & Trim
  • Passive Sub-Slab Vent
  • Poured Concrete Foundation Walls
  • Sump Pump
  • Water Proofed Foundations
  • Wirsbo® Water Supply System

Elegant Baths

  • Aristokraft® Vanity Cabinets
  • Armstrong® No-Wax Vinyl Flooring
  • Cultured Marble Vanity Tops
  • Designer Nickel Lighting Fixtures
  • Electrical Ground-Fault Outlets in all Baths
  • Luxury Owner’s Bath with Soaking Tub & Separate Shower Stall
  • Moen® Lavatory Faucets
  • Sterling® Tub/Shower Surrounds
  • Sterling® Water Saving Commodes
  • Vanity Mirrors

Energy & Water Conservation

  • 13 SEER Air Conditioner with Puron
  • 50 Gallon Gas Water Heater
  • All Electrical Boxes on Exterior Walls Sealed with Air Tight Box & Gasket
  • Carrier® 92% Efficiency Power Vent Natural Gas Furnace
  • Fiberglass Insulated Entry & Steel Insulated Service Doors
  • R-19 Fiberglass Insulation Plus Vapor Barrier in Exterior Walls
  • R-44 Fiberglass Insulation Value in Ceilings with Vapor Barrior
  • Roof Trusses with Energy Heels
  • Tyvek® Housewrap
  • Vinyl Clad Insulated Windows with Low E Glass and Screens
  • Whole House Fan Ventilation System

Exterior Detailing

  • (2) Exterior Water Spigots (location per plan)
  • (2) Weatherproof Exterior Outlet Boxes (location per plan)
  • 3-Car Garages
  • Asphalt Driveway
  • Concrete Sidewalk & Stoop
  • Front & Rear Door Lighting
  • Garage Door Opener with Two (2) Remotes
  • Insulated Steel Garage Door
  • Norandex Great Barrier® Vinyl Siding
  • Schlage® Security Dead Bolt Locks
  • Stone or Brick Accents (per plan & elevation)

Home Technology

  • (1) CAT5 Telephone Jacks
  • (1) Multi-Media Jack (Phone, Cable, Data)
  • (2) RG6 Cable Outlets
  • Three-Level Technology Tube for Future Wiring

Inspections

  • A. Pre-Construction Meeting with Site Superintendent & Sales Counselor
  • B. Pre-Drywall Meeting
  • C. Pre-Closing & New Home Orientation
  • D. Sixty-Day Service Conference
  • E. One-Year Drywall Touch-Up
  • Site Construction Superintendent
  • Twin Cities Warranty Staff
  • Unmatched Quality Inspection Process

Interior Finishes

  • 9′ First Floor Ceiling Height
  • Designer Nickel Lighting Fixtures
  • Front Door Bell & Chime
  • Hang & Tape Walls and Ceiling of Garage
  • Interior Paint by PBG®
  • Laundry Hook-Ups with Dryer Venting
  • Lower Level Bath Rough-In
  • Princeton Painted Trim
  • Satin Nickel Knobs (Interior)
  • Shaw® Luxury Carpeting (per plan)
  • Three Panel Pre-finished Colonist White Doors
  • Ventilated Closet Shelving
  • Water Softener Rough-In

Landscaping

  • Fully Sodded Yard
  • Landscaped Front Yard (per plan: mulch, bushes, & shrubs)

Ryland Homes New Home Warranty

  • Measured Customer Satisfaction Program
  • Name Brand Manufacturers’ Limited Warranties
  • One-Year Material & Workmanship Warranty
  • Ten-Year Structural Warranty
  • Two-Year Mechanical System Warranty

Tastefully Appointed Kitchens

  • 42″ Upper Kitchen Cabinets
  • Aristokraft® Cabinetry with Adjustable Shelves
  • Armstrong® No-Wax Easy Care Flooring
  • GE® Built-In Dishwasher
  • GE® Ceramic Smooth-Top Range
  • GE® Refrigerator
  • GE® Spacemaker Microwave
  • Ice-Maker Rough-In
  • InSinkErator® Garbage Disposal
  • Kitchen Island (per plan)
  • Moen® Kitchen Faucet
  • Pantry Closet/Cabinet (per plan)
  • Stainless Steel Double-Bowl Sink
  • Wilsonart HD® Laminate Counter Tops

If you have any questions about the Shakopee real estate market, new construction in Shakopee, some of the developments by Centex Homes, Lennar Homes, Mattamy Homes, Ryland Homes or qualit local builders feel free to contact me. I grew up in the Shakopee area, live here currently and my wife is a teacher in the area. I have been actively selling real estate for 10 years and work with a tem of agents, the Twin City Real Estate Team, to help serve our clients better. If you would like to find what previous clients have said, make sure to check out our Shakopee Realtor testimonial page.

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