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.

Parade of Homes in Shakopee

The Parade of homes in Shakopee is underway and that are many homes in Shakopee to choose from. This year ten builders have chosen to feature their homes in Shakopee in the parade. Contact your Shakopee Realtor for a showing, or if Pricing for homes featured in the Parade of Homes in Shakopee ranges from $209,900 -$555,000. The builders participating this year are:


Lennar features many two story floor plans to choose from in the Valley Creek Crossing neighborhood. Their model is priced at $360,278 with other homes starting at $319,990.

GBI homes, Inc.

GBI features two model homes in the parade. A three level priced at $269,900 and a two story home priced at $365,900, both int he Valley Creek Crossing neighborhood.

Shamrock Builders, Inc

Shamrock offers one of the most affordable homes in Shakopee featured in the parade.  This multi level home has 2,118 sqft. and is priced at $232,900.

Key Land Homes

Key land homes has a  home in Shakopee near the high school in the Countryside neighborhood. The model is priced at $299,900 but others start as low as $195,000

Wensco, Inc.

With pricing starting at $190,000 an d their parade model home in Shakopee priced at $209,900 they are the least expensive new construction model in the Parade of Homes in Shakopee. This is a split entry home with just over 1,500 sqft.

Knoblach Builders, L.L.C.

Another home in the Countryside development of Shakopee. Knoblach Builders has a two story home in Shakopee priced at $319,900 with other homes in Shakopee starting at $244,900

Centex Homes

Centex homes features many models to choose from starting at $254,990. Their Parade of Homes model in Shakopee is currently priced at $361,764 with many upgrades. Located in Ridge View Estates accross the street from Eagle Creek elementary school in Shakopee, this development is a great location.

Mattamy Homes

Just East of the Centex development, Mattamy also has many model homes to choose from. Their Parade model home in Shakopee is priced at $339,900 with others priced from the $270’s.

Capstone Homes, Inc.

Capstone is in the Ridge Creek Bluff edition near the Centex neighborhood. Their model home is price comfortably at $314,900 and features almost 2,900 sqft on the upper two floors.

Hartman Homes, Inc.

An solid upper bracket home along the Shakopee and Savage border tucked in the Whispering Oaks development of Shakopee. Their model is priced at $555,000 and other homes start in the 300’s.

Rememeber there are also many great buys on exisiting homes for sale in Shakopee .  The average listing price of a two story home in Shakopee is  just over $288,000. Remember to compare the pros and cons of new construction if you are thinking of building to make sure you are choosing what is best for you and your family’s needs.

Shakopee New Construction Tips

If you are thinking of building one of the many homes in Shakopee on lots that are available you might consider weighing the positives and negatives of new construction homes in Shakopee.

Positives to New Construction in Shakopee

  • No one has ever lived in the home, clean slate
  • everything is new (roof, siding, mechanicasl, etc)
  • you have the entire history of the home
  • Many new neighbors and friends to meet
  • latest energy effient standards and code standards
  • new current design layouts
  • Taxes are not fully assessed yet

Negatives to New Construction in Shakopee

  • Window treatments needed
  • Landscaping needs to be finished
  • no mature trees typically
  • Might not have neighbors for a few years
  • Dust and messy neighborhood during construction

Shakopee new construction also tends to be more expensive overall. If you look at the current Minnesota MLS data there are 37 active homes in Shakopee with an average list price of $306,392 and an average of 2,331 sqft. Existing homes in Shakopee have an average sales price of only $261,297 for single family homes in which there are 125 homes in Shakopee currently on the market and those homes in Shakopee had an average of 2,434 sqft.

Looking at pending homes in Shakopee there  was even a lower average list price at$254,486 with 2,171 sqft for new construction, and an average sales price of $229,521 for the 32 existing homes in Shakopee with an average of 2,481 sqft.

Looking at the sold homesis hard to gage being many new construction Shakopee builders do not include their sold data in the Minnesota MLS. However taking the data from the Minnesota MLS we have, there were 86 new construction Shakopee homes sold with the last year with an average sales price of $259,297 and had an average of 2032 sqft. The 278 existing Shakopee homes in Shakopee that sold in 2010 averaged a sales price of $227,148 and had 2,333 sqft.

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 Homes with Acreage

Shakopee homes with acreage can be hard to find and finding a perfect home on acreage can be even harder. Values of Shakopee homes with acreage have suffered just as much as any other Shakopee real estate, falling from an average sales price in 2007 of $519,188 to an average sales price of Shakopee homes with acreage to $378,362 in 2010.

Over the course of the last 4-5 years the Shakopee acerage market has remained somewaht stable in the number of active and sold listings in Shakopee hoovering between 20-25 homes sold per year over an acre.

2007 – 17 Shakopee homes on acreage sold with an average sales price of $519,188

2008 – 19 Shakopee homes on acreage sold with an average sales price of $432,019

2009 – 26 Shakopee homes on acreage sold with an average sales price of $396,823

2010 – 26 Shakopee homes on acreage sold with an average sales price of $378,462

The current Shakopee acreage market is looking better. There are currently 23 homes over 1 acre listed. 13 of those 23 are 2+ acres and only 4 are over 5 acres. The average list prices for those Shakopee homes on acreage is $445,527 hopefully showing a positive sign of increasing values. 6 homes on acreage in Shakopee are currently pending and waiting to close.

Shakopee Foreclosures

Digging through the Minnesota MLS this year may possibly be one of the largest year for Shakopee foreclosures to date. So far in 2011 there have been 28 foreclosure homes in Shakopee that have closed escrow.  36 Shakopee foreclosures are currently pending bring this years foreclosure total in Shakopee to 64 homes through only February. We are pacing over a home sold per day that is consider a Shakopee foreclosure! Now theoretically take that number and multiple by six, could that mean we are heading for 384 Shakopee foreclosures for the year?

Those Shakopee foreclosure numbers seem staggering being only 197 closed homes in Shakopee last year were foreclosures. We are heading for close to double those numbers and eclipsing the high of 331 set in 2009. Currently there are 54 homes in Shakopee that are active on the market and considered Shakopee foreclosures.

All of these numbers are only estimates being many Shakopee real estate agents often do not disclose the status of their Minnesota MLS listings or decipher if the home is a bank owned home, short sale or potential short sale. Why Shakopee real estate agent don’t disclose status can vary and it would be too time consuming to go through EVERY listing to get exact numbers

Although not perfect numbers you can see how the number of foreclosures in Shakopee have escalated since last year and how many buyers will have numerous opportunities this coming year.

Shakopee Parks- Park Meadows Planning Meeting 3/3/11

Everyone knows with Shakopee real estate prices declining over the past few years, new construction homes in Shakopee slowing until last year, and increased pressure by the City of Shakopee to make budget cuts have put some city  projects on hold. Originally the park in the predominant neighborhood built by Centex, Park Meadows, in Shakopee had no funds to build their community park until 2013. Original plans for the 6+ acre park included a hockey rink, multiple base fields, potential soccer fields, a playground and more.

Finally the time has come and funding did get moved up!  I was speaking to a Shakopee real estate agent from Centex homes that did confirm the park was to begin being built this summer. I also confirmed with the City of Shakopee that the Park Meadows neighborhood park would begin construction this summer. The woman I spoke with stated there is a neighborhood meeting Thursday, March 3rd at 6:30pm at Sunpath elementary in Shakopee.

According to the City of Shakopee construction will begin in  June with as much as the budget allows, which is was stated to be a large budget. What they include in the park will be determined by what the City of Shakopee wants & neighbor influence. The City of Shakopee does hope to include multiple ball fields,  a play ground for sure, hockey rink and open space.

If you are thinking of purchasing a home in the Park Meadows neighborhood, or looking at all Shakopee homes for sale make sure you get preapproved before starting you Shakopee home search. If you have a home to sell, talk to a local Shakopee Realtor to find the current market value of your home.

If you are a first time home buyer, the Twin City Real Estate Team will be hosting live FREE online home webinars with multiple dates in March including a “Night Owl” session from 9:30-11:00pm

Shakopee New Construction Report- February 2011

Current Shakopee MLS inventory is sitting at 304 homes active in the Shakopee real estate market. of the 304 Shakopee homes for sale many are short sales and shakopee foreclosures. An article I wrote the other day tagged 44% of ALL Shakopee Homes for sale as being a short sale or foreclosure per Shakopee MLS stats. What also surprised me a bit was the number of new construction homes for sale so I wanted to break down those numbers for you.

41 homes in Shakopee are considered new construction are either  model homes, spec homes, to be built homes, Shakopee homes under construction or completed new construction. This does not included the Shakopee new construction homes not listed on the Shakopee MLS, which I’m sure there are quite a few as well. Those numbers can be obtained at the county by looking into the number of bulding permits pulled in 2011. Regardless just per the Shakopee MLS numbers that represents only about 13.5% of the Shakopee real estate market.

The Shakopee real estate market seems to be saturated with townhomes, but we are seeing few new construction townhomes buit fortunately. only 4 of the 41 active listings were townhomes in Shakopee and 2 of those are half built townhomes that went into foreclosure, but were started in 2005.

Some of the Shakopee builders and the respective development they are builder:

  • Keyland Homes (Countryside & Spring Lake Estates)
  • F & B Construction (Custom Builder in Shakopee from 200k and up, Can build anywhere)
  • Lennar (Valley Creek Crossing
  • Centex (Ridge View Estates & Park Meadows)
  • Mattamy Homes (Riverside Bluffs)
  • Wensco (Countryside
  • Charles Merritt (Stonebrooke)

The average sale price of the  single family new construction homes listed in the Shakopee MLS is pushing just over $300,000 at 301,103. Of average those homes had 2,256 sqft at a cost of  $138.25 per sqft. Foundation size averaged 1318 and homes had on average 3.68 bedrooms and 2.78 bathrooms. It is safe to assume most Shakopee homes being built today have a three car garage.

Online MN First Time Homebuyer Seminars

I have done many MN first time home buying seminars over the years which have gone well, but what I am finding more and more is MN buyers want the real estate information, but don’t have the time especially after work to go to a first time buyer seminar. Problem solved! I will be conducting a live online MN first time buyer seminar complemented by a PowerPoint presentation and the ability for questions the following dates:

Thursday March 3rd 6:00-7:30 pm

Sunday March 6th 9:00-10:30 am

Sunday March 13th 10-11:30am (loan officer available)

Saturday March 19th 2-3:30pm (loan officer available)

Tuesday March 22nd 9:30-11pm

Monday March 28th 6:30-8:00pm (loan officer available)

There is a limit of 15 registrants per MN first time buyer seminar and are on a first come first serve basis. So kick back at the convenience of your home on a weekend morning or weekday evening and see what the whole first time buyer process is about. We will also be conducting a night owl MN first time home buyer session from 9:30-11pm March 22nd. Make sure to register online and let me know what date you would like to attend.

What will be covered at our Online MN First Time Buyer Seminars?

  • Time frame to start looking
  • The difference between be pre approved and pre qualified
  • Do I need a Realtor? (quick answer is NO, but why)
  • MN Foreclosures and MN short sales
  • The home buying process from A-Z
  • Negotiation tactics of sellers and banks
  • Loan programs available
  • Inspections vs appraisals
  • Closing on your home

Shakopee Real Estate Agent Home Staging Advice

You can never makeanother first impression and when trying to sell you home in Shakopee, you must make your home shine. “Staging” a home refers to all the things you can do to make your home sparkle and show it’s best for potential buyers coming to look and possibly buy.  I as aShakopee real estate agent,  know through experience it is also related  to obtaining the highest possible sales price. Buyers purchase homes visually and want everything to be clean, minimalistic and sharp. They want to be able to picture their possessions in the home, but at the same time have an idea of the depth of a room

There are three things the seller and Shakopee real estate agent can control during the sale of a house

1) Price

2) Marketing

3) Condition

 The rest is up to the current Shakopee real estate conditions of the market, the supply of home buyers in the market etcetera. In this article we are focusing in on the third point, condition. If you are considering have a market analysis done on your home, a Shakopee real estate agentalso may be able to advise what you can do prior to getting your home on the market if if you are not thinking of listings for 3-9 months from now.  Here are some helpful tips if you are thinking of selling your home in Shakopee this spring or summer.

  1. Please leave the home if possible, buyers get uncomfortable when the owner is present.
  2. Make sure you locks work smoothly. There is nothing worse for a first impression than a door that is impossible to open. Also if you have any sort of traffic noise outside, you are just giving the buyers an excuse to exclude your home.
  3. Create good “curb appeal”.  When the potential purchasers step from the salesperson’s car and see you home for the first time, you want that first impression to be a “WOW”!  The lawn, bushes, flowers, etc., should be kept cut, trimmed, and edged.
  4. If it’s summer time, make sure to turn the sprinklers on for 10 minutes 30 minutes prior to your showing.
  5. Turn on a lite radio station such as 97.1
  6. At the front door you want to maintain that great first impression. As the potential purchasers wait to enter your home they will be inspecting its exterior condition.  So, be sure the front door and surrounding area are scrubbed clean and painted if necessary.  You may wish to enhance the entrance area with decorative planter of colorful flowering plants.
  7. Keep the window areas clean and dressed up with curtains or drapes. Keep the curtains or drapes open when the home is being shown so as to keep the interior bright and cheery.
  8. Remove screens in the summertime so windows appear larger and the home stay brighter.
  9. If any of the interior walls need scrubbing or painting it is a good idea to get that accomplished immediately.  Money spent on interior painting is usually more than recovered in the final sales price.  Be sure to use a bright and neutral color.
  10. Remove borders from the home. You may love them, but typically they are dated, too personalized and buyer consider them another thing to do when they move in.
  11. Be sure to keep the kitchen area sparkling and neat since it is an area of major importance.  This is not always convenient, but the kitchen often sells the home. Remove everything, yes everything off of your refrigerator.
  12. Tuck away all you small appliances. Toaster, coffee maker and stand mixer.
  13. If you want to be creative set the dining room table. If you have a master suite with a large soaking tub, set out a bottle of wine and a few glasses. Turn the fireplace on to set a comfortable mood.
  14. Remove most personal photos from you home for two reasons. Some people can be prejudice, some spend too much time looking at you instead of the home and it just gives you more privacy.
  15. The bathrooms are also utmost importance.   Be sure to keep them scrubbed and neat. Put toothbrushes away and toilet lids down.
  16. Make up the beds each day and make sure all clothes are hung neatly away. Reduce seasonal clothes in the closet as well to make them appear larger. This goes for coat closets as well.
  17. During evening showings be sure to leave lights on in each room.  This helps to show the home in its best light and makes the potential purchasers feel welcome. Make sure all the bulbs are in working order
  18. Keep all stairways clear of hazards.  Make sure dishes, clothes, toys, newspapers and magazines, etc., are put away.
  19. Keep the family pet out of the way during showing.  If the potential purchasers are uneasy around your pet, they will not want to stay.  And, if they enjoy seeing your pet, they will be distracted.  In either case, they are not focused on your home. If possible remove from the home.
  20. It is important for the potential purchasers to feel as comfortable as possible while in your home.  So as not to make them feel as if they are intruding, it is a good idea for you and your children to leave them alone with the salesperson.  They will then feel more comfortable to stay and take a good look, and the Shakopee real estate agent can do his/her job. 
  21. If you have lot of moving boxes make sure they are organized and stacked neatly in the garage. Garages are VERY important to buyer and if your garage space looks small you are just giving the buyer a reason to move on to the next home.
  22. Empty all garage cans in bathroms and kitchen. Especially if you have rollout garage can in the kitchen. Nothing to turn someone off when looking at a nice feature than a stanky garage can.
  23. Vaccuum before you leave the home and spray with a light scent of something like frebreze lialac vanilla.
  24. Remember to remove or hide valuables. In 10 years (knock on wood) I have not had anything go missing, but it’s always good to be safe rather than sorry.
  25. Now go hang out with your neighbors and watch your showing through their windows. I have to admit when we sold our townhome we did this!

 Don’t be afaid to ever replace dated or worn items in your home. It may seem like you are spending money on something you will never recoupe, but I havehad lots of success with client doing this PRIOR to listing their Shakopee real estate listings. Don’t say we wll give it a try and if it’s not selling then we will do something. You will just lose market time.