What is a Shakopee MN Short Sale?

Shakopee Minnesota Short Sale Help

Short sales in Minnesota can be stressful and frustrating, but they don’t have to be. What is a MN short sale? A short sale is essentially when a seller owes more on their mortgage or mortgages than the home is worth. The bank will negotiate with the seller to get rid of the remaining balance on the mortgage if the seller qualifies for a short sale?

View Our Video About What is a Shakopee MN Short Sale

 

Shakopee Short Sale Realtors

We do not handle the short sale process directly with the banks. Our Shakopee short sale realtors team feels the attorneys we work with provide our clients the highest level of service, acShakopee short sale real estate agentscountability and best chances to negotiate the deficient balance.  The legal teams we work with to help you avoid foreclosure as a short sale in Minnesota are the best in the business.  Our job is to help get an offer on your home. We list and sell your home no different than a traditional sale.  High quality photos, youtube videos, syndicated listing on the best websites on the interest. We do it all to make this a less stressful process you both you and your family. We look to build relationships with our clients and get them on the right track both during the MN short sale process and after.

One Level Shakopee MN Townhomes For Sale

The Shakopee real estate market has built up quite an inventory of Shakopee townhomes for sale. Shakopee MN townhomes main consist of multi level townhomes with a limited amount of one level townhomes. If you take a look at the Shakopee townhomes that have one level starting on the west side of town by Tahpah Park you have in my opinion one of the best Shakopee townhome developments, Stone Meadow.

Stone Meadows Townhomes in Shakopee

One Level Shakopee MN townhomes for saleThe Stone Meadow one level townhomes in Shakopee consist of what I would say about 100-120 townhomes. Most are slab on grade, but about 20 or so have basements are those tend to rarely come on the market. I do know of one person that would consider selling, but just does not want to list their Shakopee townhome at this time. If you are interested, give me a call and we can set up what is called a “one time showing contract” The Stone Meadow townhomes with basements also include everything on the main level and all townhomes in this development are handicap accessible. That includes doorways, bathrooms and not even one stair on the outside as I know this can be hard for those in a wheelchair. This development is run so well and recently all the townhomes had their roofs replaced off an insurance claim. Originally these townhomes were built by Pulte Homes which has now merged with Centex Homes. There are three floor plans in this development, all two bedroom 2 bathroom townhomes units with the exception of the Shakopee townhomes with basements. size generally ranges from 1300-1600 sqft est and the townhomes with basements can push 3000 sqft. You do not have anyone behind you in any of these units, just neighbors on each side. Each unit also has a nice sized patio.

One Level Townhomes With Assistance

Just to the North of the Stone Meadows neighborhood there is a little Shakopee MN  development where a little farm used to be and across the street from a church. There are only about 30-40 townhomes in this development and a few different floor plans pretty open, but the bedrooms can get a little more tight in these units. There are no basements in these units and the size is usually 1300-1400 sqft with 2 bedrooms and two bathrooms.

Link Built Shakopee Townhomes With Basements

Just off of highway 169 and Marystown Road is a development by a good quality Shakopee builder, Link Construction. With only one street, Quincy Circle lays about 24 Shakopee twinhomes. The one level Shakopee twinhomes are quality in and out and ranks as some of the best built Shakopee townhomes out there. Stucco exteriors, concrete driveways, Anderson windows and custom cabinets set these apart. Although some insides are similar, Link allowed many builder more of a custom experience and owners were able to make there more of there own. You do not have anyone behind you in these units, just neighbors on each side Most of these Shakopee twinhomes do have basements and with that finished top out around 3200 sqft.

Golf Course Town Homes in Shakopee

Stonebrooke golf course in Shakopee also has some nice one level townhomes which do not come n the market very often either. It has been years since I have seen one pop on. You do not have anyone behind you in these units, just neighbors on each side.

Affordable Town houses in Shakopee

Countryside a Town and Country development of 500+ townhomes, mostly multi level townhomes for sale has a few different level level floor plans, however in this case you may either be on the entire top level or the entire lower level. In both case not only are you connected to your neighbor(s) on the side, but you would also have someone living above you or below you. These are probably the most cost efficient Shakopee one level townhomes for sale and there always tends to be a few to look at. Some offer only a one car garage, but others offer a two car garage. Sqft is usually in the 1000 sqft range and  the townhomes typically have two bedrooms and two bathrooms. The Countryside neighborhood is located just to the west of Marschall Rd off of 17th Avenue and extends to Spencer. Right now you could probably pick up a Shakopee townhome in like this for under 100k.

Not Quite One Level Townhomes, but Close

If head a bit further down 17th Ave and turn on Dublin just after the Target there is a development of Shakopee townhomes for sale built by MW Johnson. These townhowns are a bit quirky as they are not true one level townhomes. You would have only one of two steps in between the kitchen/dining area and the family room. There is a bedroom, bathroom and laundry all on those two levels, but the “real” master bedroom is upstairs along with another bedroom and bathroom. The middle units are no different than the end units, the end units just have an extra window. I like the layout of these though as they remind me a lot of a single family home. You do not have anyone behind you in these units, just neighbors on each side.

Gene Jergens Built One Level Shakopee MN Townhouses

Along Vierling Drive in Shakopee are a long row of one level townhomes that were built by Gene Jergens. These are great one level Shakopee townhomes, however the biggest downside is that they back up to highway 169. Most are 2 bedrooms and 2 bathrooms and currently only one is listed in the upper 150’s.

That about does it for all Shakopee one level townhomes all Shakopee townhomes for sale South of 10th Street. Now moving to the North side of 10th a few more quality townhomes surface.

One Level Walkout Townhomes With Basements

Gene Jergens, a quality Shakopee builder has built quite a few Shakopee townhomes and twinhomes off of Eastway, Woodland Trail, Woodland Ct etc and like the Link Construction townhomes on Quincy these are all stucco and all have custom materials inside. Gene Jergens definitely knows how to build a house well. These Shakopee townhomes are located near Canterbury Park in Shakopee, but some have nice park like settings in the backyard and many a walkout units with finished basement. I think these are some of the nicer one level townhomes in Shakopee, but on the more expensive side

Near the old Pearson Elementary school there are a few Shakopee one level twinhomes, however unless altered these twinhomes do not have laundry on the main level. They were built in the 80’s and again are more like a single family home. The positive is there are no assn dues so your payments can so LOW. Street like Eastway have these Shakopee townhoems for sale and typically they are selling around the 95-125k price range.

Detached Townhomes By Lowes in Shakopee

Moving Eastward toward Lowes area set of unique Shakopee townhomes as they are detached. These Shakopee townhoems were built by Ryland homes around 2005-2008ish and feature basements. One unique features to these townhomes is that you belong to an assn that has an included pool in the dues. Enjoy those three-four months of sunshine we get!

Laurent Townhomes in Shakopee MN Off Vierling Drive

Laurnet built a small number of townhome in Shakopee, all of which are somewhat plain on the outside, but nice on the inside. They offer a good amount of sqft for the price and have basements which are a huge plus. I am not aware of any with walkout basements.

I may potentially missed a few developments and some intentianally as there as so few Shakopee townhomes that they are not worth bring up in detail. Scattered throughout town there are many one level Shakopee townhomes or twinhomes in which they might be sandwiched in a single family neighborhood. I know there was one on Hennes recently for sale as well as some that sold on Austin Ct.

Local Shakopee Real Estate Agent

Being one of the local Shakopee real estate agents in town, I do know a lot about the area. I grew up in Shakopee and currently reside here. My mother  lived in the Stone Meadow Townhome development and I have gotten to know many of the neighbors there. Hope you found this blog helpful and contact me if I may be of any assistance. Call me at 612-384-2178 for detailed information.

 

 

 

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Shakopee Realtor Market Update January 2012

Shakopee RealtorsShakopee Homes For Sale Down

Just shooting out a prospective of the past months Shakopee real estate market from a Shakopee Realtors prospective.  The real estate market has been a bit odd lately. Not many homes coming on the market, everyone telling us, “just wait, the foreclosure flood gates will open soon with more inventory” and the Shakopee homes for sale out there that a decent get snapped up in multiple offer situations after a week. A few things that have been frustrating for buyers in their current real estate market is 1) the lack of Shakopee mls listings 2) the banks sitting on offers even if you submit an offer the first hour it is listed, as it seems they are waiting for multiple offers 3) many of the “active” mls listing, aren’t so “active”, they are SOLD, sold subject to bank approval that is. Yes, many shakopee mls listings that are coming up as active listing do have offers. The reason this comes about is due to the banks requiring that the listing Realtors deem the property still active to show, because they want back up offers.

Shakopee Realtors Market Outlook 2012

Shakopee Realtors have been recently seeing inventory decrease which is a positive sign for those selling their homes. As we see inventory fall and demand stay high, typically that allows home values to rise.  I can’t remember where I read a recent real estate article that indicated the Minneapolis real estate market would see an increase in values of around 8% this year. Great news for sellers, but I would be cautiously optimistic. As a Shakopee realtor, I do feel we will see values increase this year, but slowly and depending on how that foreclosure inventory is released will also have an effect on values. If the banks just release everything at once, values are almost certain to drop if there are not enough buyers and inventory will sit stagnant until demand is there. If the banks hold onto the inventory like they have been and slowly release a few properties at a time I think inventory will remain lower and the new properties will get gobbled up quickly by hungry buyers anticipating a good deal. People thrive on competition and we are definitely seeing that with increased offers and multiple offer scenarios now.

With a good Shakopee school district I think you will see the real estate market here in Shakopee substaintially grow over the next 10 years. As a Shakopee Realtor and resident with a wife in the

 

Short Sale vs Foreclosure

Short Sale vs Foreclosure

Short Sale vs Foreclosure RealtorsMany financially troubled homeowners are aware that foreclosure is a lengthy process and many have questions about short vs foreclosure. This was sent from an attorney, Bradley Kirscher, who specializes in short vs foreclosure. 2012 is the end of the Mortgage Forgiveness Debt Relief Act of 2007 and many are curious what ramifications there are with a Short Sale vs Foreclosure.  Some have heard stories about people living in their home for years without making a payment because their lender was overburdened with defaulted loans and foreclosures.  Those stories may convince them that their best choice is to remain in their home without paying until forced to leave. That urge to remain in the home they know, coupled with the commonly-accepted notion that a Short Sale vs Foreclosure is simply too difficult to complete, keeps many people who would otherwise be qualified from listing their home for short sale.  Why go through the hassle when I could live rent-free for an indefinite period of time?  How does a Short Sale vs Foreclosure benefit me, the struggling homeowner?  Aren’t Realtors just trying to earn a commission at my expense?  These are difficult questions to answer, since the questions themselves suggest that the homeowner is unlikely to sign a listing agreement. However, now is the time to address these questions, and here is the answer: TAXES!

As a general rule, cancelled debt is treated by the IRS as income.  A mortgage lender issues an IRS Form 1099-C anytime it cancels a portion of a homeowner’s debt – whether through short sale or foreclosure (foreclosure by advertisement or “non-judicial foreclosure” in Minnesota results in the lender forfeiting the right to pursue the deficiency, so the deficiency is cancelled debt).  Under the Mortgage Forgiveness Debt Relief Act of 2007, in many circumstances the homeowner is not required to pay income tax on the cancelled debt.  However, the Act currently applies only to debt forgiven by the end of the 2012 calendar year.  HOMEOWNERS CONSIDERING SHORT SALE vs FORECLOSURE MUST ACT NOW TO ENSURE THAT THE DEBT FORGIVEN ON THEIR HOME MORTGAGE DOES NOT INCREASE THEIR INCOME TAX.  Considering the state of the market and the time it is taking for some lenders to foreclose, even homeowners that have already missed payments may find that the lender’s delay in foreclosing results in the debt being forgiven in 2013 after the Act expires. Closing a short sale prior to the end of this calendar year results in the debt being canceled in time for the homeowner to take advantage of the Mortgage Forgiveness Debt Relief Act (as long as the canceled mortgage debt was used to purchase or improve the borrower’s primary residence).  Waiting could result in the homeowner incurring income tax on the amount of the deficiency, and many markets are seeing deficiencies over $100,000.  Coupled with the difficulty in discharging tax debt through bankruptcy and the collection tools at the IRS’s disposal, waiting to “see what happens with my foreclosure” could result in a nightmare for the homeowner.

Short Sale vs Foreclosure Realtor & Attorney Information and Help

Bradley Kirscher has attached some information from the IRS website, http://www.irs.gov/ , on the tax ramifications of cancelled debt and the Mortgage Forgiveness Debt Relief Act of 2007.

For questions about Short Sale vs Foreclosure contact a short sale vs foreclosure realtor or attorney:

Bradley Kirscher

Kirscher Law Firm, PA

brad@kirscherlawfirm.com

phone: (651) 209-8440

fax: (866) 880-6386

Re/Max to Buy Commonly Known Edina Realty Building in Shakopee

Re/Max Advantage Plus in Shakopee is making quite the moves in the Shakopee real estate market and has purchased what was known commonly as the Edina Realty building in Shakopee, although Edina Realty does not currently own the building, but was leaseing space. This forces Edina Realty out of the building they have occupied since opening and positions Re/Max Advantage Plus well in the Shakopee real estate marketplace. Re/Max truly is a market leader in the Shakopee real estate market and holding true to their slogan, nobody sells more real estate than Re/Max. Re/Max Advantage Plus has continued to gain strong market-share in Shakopee real estate market and look for a prosperous future as they continue to grow and add experienced, driven agents to their sales force. If you are considering a career in real estate, look to the Shakopee market leader, Re/Max International. With top of the line technology, mentorship programs, high commission splits, great support and some of the top agents in the marketplace, you know you are in the best of hands with respected, ethical and fun Shakopee Realtors.

For more information about a career in real estate contact us

Real Estate Can offer you:

  • Flexible Hours
  • Additional & No Ceiling on Income
  • Part time work
  • Satisfaction of helping others

 

  • Satisfaction of helping others achieve goals

Shakopee Houses Sold June 2011

There was a total of 73 closed Shakopee houses for the month of June. The average price per square foot was $85.08 and the average sold price was $174,894. Single family Shakopee houses sold totaled 47 while 26 Shakopee town houses sold during June. Shakopee town house dipped to an average sales price of $108,335 while staying on the market an average of 136 days before selling. Of the 26 Shakopee town houses,  12 were lender owned (46%) and 5 were reported as short sales (19%) totaling 65% of Shakopee town houses having bank involvement. Looking at Shakopee single family houses the average sales price settled at $211,714 which was $92.52 per sqft. Those houses stayed on the market for 122 days. 17 houses were Shakopee foreclosures (36%)  3 were short sales (6%) and 1 Shakopee house was not disclosed.  Don’t forget to check out all ACTIVE SHAKOPEE MLS HOUSES FOR SALE. When you’re ready to look at Shakopee houses, or looking at current market values to put your Shakopee house on the market, Remax Advantage Plus and the Twin City Real Estate Team is here to answer your questions and guide you through the process to make sure you have a great home buying or selling experience. We offer a FREE market analysis pricing report, and are willing to show you Shakopee houses without an exclusive buyers contract. You should know how the Shakopee Realtor helping you works for you prior to committing to an agent.

Shakopee MLS Listings vs Home Prices

Shakopee Home PricesShakopee MLS listings have dwindled as I wrote yesterday, but I was curious to find out exactly how much home prices in Shakopee were affected.At the height of the Shakopee real estate market it was hard to find a Shakopee home for under $200,000. The average home prices for Shakopee townhomes was over 193k in 2006. Today Shakopee home prices have slipped and the average sales price for a townhome is just over $110,000! When looking at the Shakopee MLS listings this morning I looked closer at the market and homes ARE SELLING. There are 268 “active” Shakopee MLS listings available today, and the reason I use quotations is because of the 268 “active” Shakopee MLS listing there are 60 homes that show as active, but have pending contracts on them, not including the 73 Shakopee homes with pending offers waiting to close. So currently today there are 208 active homes on the Shakopee MLS and 133 homes with contracts. There are a few things I see, 1) Shakopee home prices hopefully will stabilize soon 2)  there are not a lot of GOOD MLS listings out there 3) Home are selling!

If we take a close look at Shakopee Home Prices higher values are harder to come by. Of the 268 active Shakopee MLS listings:

45 homes are under $100,000

110 homes are under $150,000

215 homes are under $300,000

only 15 homes are over $500,000

Click here to find what are the four most expensive listings for sale in Shakopee?

Here is a link to search all Shakopee MLS Listings and Homes For Sale

Shakopee Real Estate Inventory Low

It seems within the last few weeks the Shakopee real estate inventory has dropped to recent lows. Last time I check all Shakopee MLS statistics there were only 265 Shakopee homes for sale. Typically the Shakopee MLS seems to generally support 300-325 Shakopee homes for sale on average, but I would attribute the low Shakopee real estate inventory due to less forecloses coming on the market and also a lot of sellers that may not NEED to sell, just staying put for the time being.  I am hearing from many buyers being frustrating with the lack of good quality Shakopee homes for sale on the market. It seems there is either a lot of unrealistically high homes on the Shakopee MLS for sale or there is a lot of plain junk homes out there. Banks keep saying they will be “releasing” more inventory, but I have heard that since the first of the year. Although we may be in a buyers market overall where many properties sit on the market, I have also seen many Shakopee real estate transactions with multiples offers. Make sure when looking on the Shakopee MLS you contact Shakopee real estate agents to find out if the home has any contingencies. Many buyers run into this frustrating situation and feel they are being lied to because many homes that are for sale on the Shakopee MLS can actually have contracts on the, but still show as active listings. My advice if you are looking to buy a home for sale in Shakopee is to be patient, act fast and be realistic. You Shakopee real estate agents know the market and can help put together a market analysis to advise you what a good price may be to come in at. Sometime even going over list price may be needed to get your offer accepted.

Shakopee MN MLS Home Prices Fall

MN MLSHere is a look at the Shakopee home prices that have fallin with price reductions the last week:

1636 Liberty Circle, Shakopee MN MLS #4054306

Purchased for $202,000 in 2005, this Shakopee townhome was listed 21 days ago with Remax Advantage Plus for $147,495 and recently reduced to $134,900. An aggressive move to get this Shakopee townhome sold quickly. Click on the address for more infomation.

6188 Oxford Rd, Shakopee MN MLS #4043733

This unique large two story on over an acre has 5000+ sqft. The sales price was just reduced $10,000 from $469,850 to $459,850. 5 bedrooms 4 bathrooms and a 12 x 11 walk in closet!

1227 Elmwood Ave, Shakopee MN MLS #4041129

Weston Ponds Shakopee townhome for sale. Price was reduced $89,876 to 85,000. This Shakopee townhome started at $99,876. I have been in this townhome and it shows great. One of the best Shakopee townhomes on the market for the price. 2 bedrooms 2 bathroom with an additional loft space or potential third bedroom. END UNIT!!!

1903 French Trace Ave, Shakopee MN MLS #4025920

Shakopee rambler reduced $2,000 down to $227,876. Great location near the hospital with just under 1900 sqft 3 bedrooms and 3 bathrooms.

If you would like the full MN MLS listing sheet emailed to you drop me an email or call 612-384-2178

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New Shakopee Homes For Sale Listed By Remax Advantage Plus 6/6-6/12

Five new Shakopee homes came to the market this week priced from just under$95,000 up to $209,850. Below is a brief look at each new MN MLS listing.

7515 Derby Lane Shakopee, MN MLS # 4056189

This Shakopee townhome for sale is priced aggressively to move at $94,876. Previously built by Ryland homes in Shakopee, this clean and well cared for townhome has 2 bedrooms, 2 bathrooms, a one car garage and has almost 1300 sqft. Built in 1999 this Shakopee townhome development is unique because the residents also have access to a community pool. The is a transit station close by and you are within walking distance to Walmart, Sam’s Club and many restaurants, bikes trails and activities.

807 Ferdinand Drive Shakopee, MN MLS #4055459

If you like to bet on the ponies or play cards this Shakopee townhome is in the perfect location for you. You are within walking distance of Canterbury Park. Gorgeous with 2 bedrooms, 2 bathrooms and a 2 car garage. This end unit  Shakopee town home also includesa huge loft  and boosts close to 1400 sqft. A unique feature about this Shakopee townhome is that it overlooks a large open grassy area giving you a little distance and privacy. Walk-Thru bathrooms close to master bedroom, walk-in closet in the second bedroom, an over sized kitchen with tons of oak cabinets make this a great value priced at $131,500.

1985 Boulder Pointe Shakopee, MN MLS # 4055471

I absolutely LOVE this Pulte one level townhome community as I have moved 6-8 townhome in this development. My mother used to live in theneighborhood so I know the good people there. The association dues are kept low as it is self managed at only $120 per month! Nice open floor plan. All the doors are handicap accessible and easy to get around. Some of the nice features in this one level Shakopee townhome are lots of windows, a three sided gas fireplace, separate formal dining room, octagon shaped sun room and in great condition. this home is priced at $169,400 and features 2 bedrooms, 2 bathrooms, a two car garage and 1464 sqft.

1711 Primrose Lane Shakopee, MN MLS #4056190

This split level home located in the Meadows neighborhood, just North of highway 169 and just West of Marschall Rd off of Vierling drive, is completely renovated and looks turn key to move in. Two bedrooms on the upper level and two bedrooms downstairs. 4 bedrooms total, 2 bathrooms, 2 car garage and approximately 1900 sqft. The home has a large fenced yard and is available for immediate possession. The home is listed at $199,995.

1225 Minnesota Street South Shakopee, MN MLS # 4055371

This well taken care of split level home is located just to the West of the Primrose home. Great for the buyer that wants to move right in and enjoy the pride in ownership these original owners have taken in their home. Great location, close to shopping, schools, daycare and restaurants. Nice sized yard, walkout lower level in the basement, two fireplaces and shows like a model home. This one is priced at $209,850.

If you would like to search ALL SHAKOPEE HOMES FOR SALE on our search that links directly from the MN MLS click on the tab or our hyperlink.

We can show any of the listings above, email you the MLS listing print out or if you would like more detail contact Tom Scott of Remax Advantage Plus

We also provide for FREE automatic home searches so you may be notified the moment a home comes on the market.

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