Purchase a Shakopee home for only 2% downpayment!

A good quality Shakopee loan officer I work with , Chris Aloisio, just wanted to send out a refresher email for a loan program she and Wells Fargo in Shakopee have to offer. The program is called the CDMP program if you want to mention it to her when calling.  This program that is unique to Wells Fargo is great for first time buyers. CDMP stands for Community Development Mortgage Program. Here are the highlights and information on the program:

Conventional loan–in house (not Fannie or Freddie), Not an FHA program either

2% down–NO MORTGAGE INSURANCE!!!

Income limit of $67,200 for a family of 4–income limits waived if buying within the city limits of Mpls or St. Paul

Down payment can be a gift

Owner occupied only

Homebuyer education is required UNLESS they have owned a home in the last 3 years and made their last 12 payments on time so do not have to be first timers

One debt ratio of 42% & can have a co-signer

Must be employed for one year

Self employment for 1 year with tax returns is acceptable (2 year requirement waived on this program)

Credit score of 620 with 3 tradelines

No cash reserve requirement

Home must be in decent shape, but cosmetic repairs are fine

One year rental history required

Todays rate, 6/3/11,  for this loan is 4.875% for a 30 year fixed.

This loan program is truely a great program. Although there are income limits to apply for the program your downpayment can be gifted which helps and credit scores can be as low as 620.  The biggest advantage to this program in my opinion outside of the obviously only 2% downpayment program is NOT HAVING MORTGAGE INSURANCE.  That portion can save you $100+ per month!

If you want more information about this program feel free to contact, Tom Scott of Remax Advantage Plus and the Twin City Real Estate Team at 612-384-2178

When purchasing a home, make sure to have your own representation. The person selling the home has their own representation

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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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Valley Creek Crossing Shakopee- Lennar Homes

I stopped by the model home in Valley Creek Crossing, a nice single family development in Shakopee just south of highway 169 about 1 mile. The home was a gorgeous two story with about 2,850 sqft on the upper two floors and the home had a large unfinished walkout basement ready for anyone’s finishing touches.

Lennar purchased all of the remaining lots that Cuddigan,one of the original builders in the development, owned in Valley Creek Crossing. Lennar is currently is offering six different models with varying front elevations to choose from. Their price point according to their website is $322,990-$371,990 with sqft on the upper two levels ranging from 2,701-3,075 sqft. Lenner did not skip on minimum square footage requirements per the covenants like some cheaper builder do. They really are putting out a quality product with great curb appeal.

What I like about the Valley Creek Crossing development is that it’s not in the middle of a farm field where they plopped down lot after and all the homes look the same. There are probably close to twelve builders within the development and there was an artitechual committee to help keep up the standards and look of the neighborhood. Some of these artitechual standards include have a natural material on the front of the house such as brick, stone, or hardiplank. So many of the homes in the development look different and there is a good mix of ramblers, two story homes, modified two stories and probably less than five multi-level split homes throughout the development.

The Valley Creek Crossing neighborhood has a park with multiple sets of equipment for kids of all ages, sidewalks to help keep the kiddos safe and there is even a creek that runs through the neighborhood. The original farmstead in which the land that was used to build out the development still resides by the Marschall family, long time Shakopee residents who can be seen walking on occasion.  A larger park with hockey rink and basketball court is a short distance away and you can take the sidewalk all the way there.

Shopping is very close as Target, Cub Food and many other store are within 1.5 miles. Centrally localated, Valley Creek Crossing in Shakopee is close to almost any school and currently is in the Pearson Elementary school district, however new school lines will be drawn for the 2011-12 school year with the new addition of an elementary school this fall.

If you are considering the Valley Creek Crossing development in Shakopee or any other area, be sure to contact a local Shakopee real estate agent who knows the area, the market and can help you make the best decision for you and your family.

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Southbridge 4 Level Home

Great four level home in desirable Hamlet of Southbridge. Spacious and open floor plan with soaring vaults. Extra room because of “bump-outs” added during construction. Close to shopping, schools and parks.

Wooded Privacy | Shakopee Rambler

Don’t miss this unique rambler set on a private retreat. 10′ ceilings, double sided floor to ceiling boulder fireplace, w/o lower level, vaulted foyer, kitchen tile floor cut from french castle stone, hand painted backsplash and much, much more.

Shakopee Townhome w/ Basement

Unfinished lower level w/3rd bath rough in. End unit townhome.Like new carpet,new laminate floors in kitchen & dining room. New ceramic bath, quality cabinets w/dovetailed drawers.Huge bedrooms,lots of storage & potential 3rd Bed or family room in lower level.Seller will pay 1 yearr assn dues. Quality built and local builder, Link Construction.