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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Remax Advantage Plus Shakopee Real Estate Listings week of May 30th-June 5th

This past week the Remax Advantage Plus real estate brokerage in Shakopee offered four new homes for sale:

842 Princeton Ave, Shakopee MLS #4052564

This home is a middle unit townhome built by Town & Country Homes which is now K. Hovanian. This Shakopee townhome features 2 bedrooms and a loft on the upper level. The home also includes an upper level laundry which is nice as that is where all your bedding and clothes are anyway. According to the Minnesota MLS post the owner is a non smoker and also does not have any pets and has never had any pets in this home. This IS NOT a Shakopee short sale or a Shakopee Foreclosure! You may be relieved to find this is not a short sale or foreclosure because you do not need to wait and wait and wait to see if your offer is accepted. Some other features this home has is a 2 car garage, gas fireplace in the living room and well decorated. Listing price$129,876

4608 Bulrush Blvd, Shakopee MLS #4053589

This one was of the Shakopee townhomes built near Lowes by Ryland Homes in Shakopee. This is their original Greenwich floor plan which was the smallest of the three models in the row house collection. It is 1595 sqft with room to finish off a fourth bedroom or family room in the lower level as well as a 4th bathroom. Currently the home is 3 bedrooms, 3 bathroom, 2 car garage. I showed this home when is was a short sale listing and the home is in good shape. The home does have some seriously colors so you may want to break out your paint brush. Currently the home is a BANK OWNED Shakopee townhome owned by Fannie Mae and priced at $126,250.

1636 Liberty Circle, Shakopee MLS #4054306

Another Town & Country built home in the Countryside development of Shakopee. This is a larger middle unit than the first home on Princeton and has 1562 sqft with 3 BR plus Loft, 3 BA, and a 2 car garage. This one again IS NOT a Shakopee short sale or foreclosure. This townhome has ceramic tile, 42 inch upper cabinets, 3 sided gas fireplace and a private master bathroom. The home is priced at $147,495.

2016 Hackberry Lane, Shakopee MLS # 4054756

The most expensive of the Remax Advantage Plus listings this week to hit the Shakopee real estate market. This home is a custom two story built in the Park Meadows neighborhood of Shakopee. Currently listed at $339,900 this home also has contract for deed financing as an option for this home with flexible terms. This solid two story has an oversized 3 car garage, awesome master bathroom and the home includes 4 bedrooms, a hall study area, 2 bathrooms and laundry all on the upper level.

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. We are seeing many multiple offer situation and homes that are priced accordingly selling quickly.

Shakopee Townhomes Values

Shakopee townhomes for sale have gone on a bit of a roller coaster ride over the last 20 years, they might as well have gone to Valleyfair.  I have analyzed numbers very thoroughly and from a town that had as few as 8 Shakopee townhomes sell back in 1992, to 445 Shakopee townhomes sold in 2005 the townhomes for sale in Shakopee have leveled slightly.

We have seen a lot of new construction in Shakopee after the highway 169 Bloomington Ferry bridge was built in 1996. Up until 1998 Shakopee townhomes had seen only 135 townhomes sold in the previous six years per the Minnesota MLS statistics. Then in 1998, 159 townhomes sold representing almost 35% of the total Shakopee homes sold that year. The average sales price for a Shakopee townhomes in 1998 was $107,890. Average market times were only 60 days and average square footage was for those townhomes in Shakopee was only 1027 sqft, making the average price per sqft to be $105.05.

The Shakopee townhome market exploded from this point on as many more townhomes were to be built. The city temporarily thought about a moratorium of townhomes in Shakopee being built, but then decided not to impose. The number of townhome in Shakopee built in 2001 rose to 249 homes sold representing almost 38% of the total market. Average sales price had climbed to under under $150,000 and the average days on market fell to just 24 days. The boom was definitely here and sqft increased to an average of 1338 per townhome.  The Shakopee real estate market and Shakopee townhome market peaked in 2004-2006. 2004 led to a high of almost  49% of all homes in Shakopee sold that year on the Minnesota MLS to be townhomes. 2005 brought an all time high of townhomes in Shakopee sold through the Minnesota MLS, 445 townhomes. In 2006 values had peaked, with average sales prices just over $192,000, meanwhile average days on market increaseing  48 days more days from the previous year to 107 average days on the market. Through these three years the average price per square foot had almost tripled from 1992 values of $42.57 per sqft, to just over $125 per sqft.

Come 2008, much fewer Shakopee townhomes were selling and bottomed at an eightyear low of only 201 townhome in Shakopee sold that year. Average sales prices had significantly decreased since their peak of just over $192,000 to an average sales price of $161,403. This was over $25,000 less in just a years time than the 2007 average sales price of $186,687. Most assumed this was the worst however Shakopee townhome values again plunged the following year even worse, decreasing on average over $33,500! This brought the average sales price of a Shakopee townhome to $127,782.

We saw signs of hope in 2010 with Shakopee townhome values finally increasing for the first time in three years after a rapid decrease in values to an average of $132,533, but so far in 2011 it appears as though we are seeing a double dip in pricing.I had put together some numbers from the Minnesota MLS and so far in 2011 23 townhomes in Shakopee had sold with an average sales price of $109,718. Days on market had steadily increased over the last 10 years and reached close to the average days on market of 1992 with an average time of 152 days. Per per sqft has dropped to $72.90 per sqft, close to values in 1995-1997. Although we have not had average sales prices fall to those points, our townhomes are much larger today.

There are signs of hope for those looking to buy while starting their home search and those looking to rent their townhome in Shakopee. Shakopee townhomes are priced so aggressive today I feel there is a huge upside potential. You can currently buy cheaper than you could rent townhomes in Shakopee. The rental market is great as well. With Shakopee being relatively close to shopping, Minneapolis, lakes and many activities more and more are moving to the area. Shakopee also has a lot of job opportunity in the area with large companies like Seagate, Mystic Lake, Canterbury, Valleyfair and more. Shakopee has a transit as well for an easy commute to downtown.

Still remain cautious because I see two potential problems we could see down the road. One deals with financing for future buyers, and the other deals with increased association dues. Many current owners who have moved to single family homes are renting their Shakopee townhomes. Some aassociations have become a bit more lenient with their covenants pertaining to how many townhomes can be rented.  Because of this and the increased Shakopee foreclosures and short sales, some Shakopee townhomes down the road may be hard to get bank financing. Lenders look at an area with high foreclosure rates and rental rates as more of a risk and may not offer some loan programs in those development, primarily those legally defined as a condo. Most developments with Shakopee townhomes actually are classified as a condo. If you own a Shakopee townhome, look at your legal description and if you see CIC, likely it is a condo. Those townhomes in Shakopee that have a lot and block, likely are classified as a townhomes. The other area for potential future concern would be  inflated association dues. Some associations are in great standing because they have not had many foreclosures. Stone Meadows one level townhomes for example I know are in great standing while keeping their dues low at $115 per month. Other townhome areas I know have increased their association dues above $200 per month when previously the average was in the $125-150 range.  Some association are charging extra month assn dues if you rent your townhome. I don’t think that is necessarily bad because some area have amenities like community park or pools and hopefully 10-15 years down the road the won’t need to get a bond to replace roofs or siding. Make sure when search for your next home or Shakopee townhome you talk to you local Shakopee Realtor and make certain you review the associations financials and covenants. In Minnesota you have 10 days to review all such documents per a condo/ townhome addendum your Realtor should add to the Minnesota real estate contract.

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Shakopee Foreclosure Homes

It seems so many homes I show now are Shakopee foreclosures that when you see a home with someone actually living there you are taken back. I showed a Shakopee foreclosure townhome today that was just listed and the bank had this place sparkling better than most Shakopee homes for sale. Shakopee bank owned homes are now taking it upon themselves to start painting, replacing carpet and make these homes ready for showings.

If you look at all Shakopee foreclosures and short sales there is currently a total of 137 homes for sale as of today. Total Shakopee homes for sale equals 293. Given those numbers, that represents a total of 46.8% of the total homes for sale in Shakopee to be Shakopee foreclosures or a short sale listing.

Breakdown those numbers further it appear more Shakopee townhomes are becoming Shakopee foreclsoures as 61.4% of all townhomes in Shakopee currently listed are Shakopee short sales or foreclosures. Only 35.5% of single family homes for sale in Shakopee are foreclosures or short sales.

Overall listing  inventory is down from that of last year, but I think you can expect listing inventory to rise being typically the market peaks in inventory in July and there will also be many Fannie Mae Homepath properties coming to the market over the next few months.

Finding PERFECT Shakopee Homes

If you are searching for the PERFECT Shakopee home I would be very picky. First off it is always best to find a good loan officer to get you preapproved before starting your Shakopee homes search. If you know where you are comfortable from a pricing standpoint your next step should be to contact a Shakopee Realtor to help with your home search. Typically in Minnesota the buyer agent, Shakopee Realtor, that would help you find a home is typically paid by the seller thus no cost to you. Many agents won’t make you sign a buyers contract until you are comfortable with their services.

Once you have both your Shakopee loan officer and Shakopee Realtor it is time to start your Shakopee home search. If you have narrowed your search to just Shakopee homes, you are so much closer that in you were to have multiple areas of interest. The hardest thing for client is find what area they want to be, after that the home search gets a little more simple. Shakopee is redrawing the school boundaries for 2011-12 so make sure you are within the Shakopee elementary school boundaries in which you prefer, and check where day cares boundaries may be also.

Some of the things I try to have clients find in the PERFECT Shakopee home pertains mostly to resale, here are some tips:

Shakopee Townhomes

  • End units generally sell well
  • One car garage homes are tougher to sell
  • townhomes with someone living above or below you can make it more difficult to sell
  • Try to find a home with a basement, large plus
  • Ideally find a townhome with a private master bathroom
  • 3 plus bedrooms always help with resale
  • If you are buying a 2 bedroom, try to also find one with a loft
  • proximity to public transit
  • If you assn has a pool that can help

Entry Level Shakopee Homes For Sale

  • If you can find a 3 car garage, do so
  • Master baths can separate your home from the competition
  • try to find 3 bedrooms on one level, great for families
  • Open floor plans
  • look at the updates. although your payment may be higher at least the 30k for windows, siding & roof won’t be an out of pocket expense.

Move Up Shakopee Homes For Sale

  • In my experience two story homes with 4 bedroom on one level sell better than those with only 3 up
  • many two stories will feature bonus rooms
  • In my opinion always find a 3 car garage, so many homes have been built now with three car garages
  • almost a must to have 1, if not 2 fireplaces
  • three season or four season porches are a plus
  • check mechanicals, windows and roof. these items could be getting towards to end of the life
  • think long term, would you prefer a rambler in 5 or 10 years? consider one now.
  • Main floor office space

Upper Bracket Shakopee Homes For Sale

  • Acreage can set your home apart
  • lake view, access or lake shore
  • custom builtins
  • most prefer walkout basements
  • extensive landscaping
  • outdoor living spaces (fire pits, outdoor fireplaces, pools)
  • Privacy, lot of trees

General Tips

  • most try to avoid backing to Highways and busy roads
  • power lines typically can turn buyers off
  • being close to apartment building can turn buyers off
  • being close to train tracks can stray future buyers

Shakopee Townhome Update

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

STOP before you buy a MN townhome!!!!

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.

Basement

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.