Low Downpayment Assistance Programs Minnesota

Sometime coming up with a downpayment to buy your first home can be challenging. With low downpayment assistance programs for buyers this allows good qualified buyers who have a good credit history and scores 620+ with three trade lines of credit the opportunity to get into a home and take advantage of low interest rates, If you are looking in Scott County there are also opportunities in which you can get up to $4,000 to use for your downpayment! Income restrictions do apply, but that is quite the opportunity!


Low Downpayment Assistance Programs MN

There are not many programs for buyers, but two great programs are the 2% down, Minnesota low downpayment assistance program CDMP and the USDA rural housing program. The rural housing program could not qualify for a city like Shakopee, MN, but it would be available in Belle Plaine.

CDMP 2% Downpayment

The only other low down payment assistance programs in MN for buyers i know of are the USDA rural housing programs as previously discussed, a 0% down DVA loan and the CDMP 2% downpayment program. To learn more about the program I work with a great Wells Fargo loan officer who can email you all the specifics or you can call local Realtor Tom Scott of Rea/Max Advantage Plus in Shakopee at 612-384-2178

Active Shakopee Homes For Sale

Average Home Prices in Shakopee December 2012 vs 2011

average sales price shakopee mn homes2012 was a good year for the Shakopee real estate market and average prices in Shakopee for homes and townhomes. In December of 2012 a total of 44 homes closed escrow which was up about 12.8% from the 39 homes closed in 2011. The rise was the numer of single family homes that closed as the number of townhomes remained consistent the previous year. The overall average sales price of residences that closed in December of 2012 was $214,147 ($100.94 price per square foot), this was up drasitcally 16.7% from 2011’s average sales price in Shakopee of $183,442 ($86.02 price per square foot). Single family homes saw a drastic decrease in days on market from 159 days on the market in 2011 to only 96 days in 2012. Sales price increased 16.3% from $226,282 in 2011 to $263,211

Average Shakopee Townhome Prices

From 2011 to 2012 the same number of Shakopee townhomes sold each year. What changed slightly was the sales price, up 6.4% from $128,002 ($80.59 price per square foot) in 2011 to $136,221 ($84.22 Price per square foot) in 2012. I have seen the market as a whole the past year up quite a bit more than that. Townhomes that hit the market are selling, and selling quickly. The most drastic statistic that changed was the days on market in which it took for the town homes to sell. In 2011 the average days on market was 168 days, in 2012 only 29! 479% less market time! Tell me it’s NOT a sellers market.

Active Shakopee Homes

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Online Minnesota Short Sale Seminar For Sellers

short sale seminar minnesotaIf you are thinking of selling you home in Minnesota and owe more than your home is worth you may be comparing foreclosure vs short sale and wondering what your options are. Tom Scott at Re/Max Advantage Plus and the Twin City Real Estate Team will be hosting a 1-2 hour short sale real estate seminar to help answer questions you may have about the process, talk about the consquences of both and discuss the short sale process. We will be hosting on gotomeeting.com and require you to RSVP to by January 25th. I have created brief 30 seconds video clips to help sellers with some of the most common questions asked about short sale vs foreclosure.

Minnesota Short Sale Seminar Online

We understand if you are considering a short sale no one wants to raise their hand and volunteer that information. That is why we have created an anoymous Minnesota short sale seminar you can ask the questions you need.

When: January 26th 10:00am to 11:00am or Noon depending on questions.

Where: Anywhere you have computer access, even in the comfort of your own home.

To RSVP Call 612-384-2178 or email Tom@MnHomesForSale.com

This seminar is for informational purposes only and we always recommend you consult a short sale attorney. Tom Scott of Re/Max Advantage plus works with local atorneys when conducting a short sale and has recommendations upon request.

1663 Delaney Ln Shakopee Townhome For Sale MLS 4328432

Shakopee Townhomes For Sale1663 Delaney ln in Shakopee has a nice central location in Shakopee. Being located near Shakopee schools Sunpath elementary school and SACS Elementary school this townhome also has two large parks nearby. 1663 Delaney is located South of Highway 169 and just East of Marschall Rd on 17th ave. Within walking distance to many shops that include big box stores Target and Kohls.

New Listing at 1663 Delaney Ln Shakopee MN MLS 4328432

This Shakopee townhome is an end unit located toward the end of the development backing up to single family residential homes. You will feel like you are not even in a townhouse development because of the openness in the back and having only one attached neighbor. The townhome has 3 bedrooms on the upper level with potential to put a fourth bedroom in the lower level, but many will choose to have a larger open family room in the basement. The current owners use a nice niche in the lower level as a “Guest Room” for those who stay overnight as guests can have their own space and bathroom. There are three total bathrooms throughout the home. There is an full upper level bathroom with tub and shower, a main floor 1/2 bath and the 3/4 bathroom in the lower level. This home is meticulously maintained and very well cared for. Plenty of light shines throughout the home and the owners have numerous upgrades & features throughout the include:1663 Delaney Ln Shakopee MN 55379

  • Gleaming Floors Throughout Main Level
  • Newer Stainless Appliances
  • Newer Carpet in Lower Level
  • New Tile in Upper Level Bathroom
  • 3 Bedrooms on the Upper Level
  • Premium Lot Location in Development

Video for 1663 Delaney Lane in Shakopee

Watch this short 3 minute video of one of the nicest Shakopee townhomes for sale today. This is a great value being a town home with a basement and an end unit backing up to single family homes.

With the limited Shkaopee real estate inventory on the market 1663 Delaney Ln Shakopee MN is sure to sell quickly!

Shakopee MN Townhomes For Sale

Thank you for considering the townhome for sale at 1663 Delaney Ln in Shakopee. If this mls listing did not meet your critera for a new home below is a look at the other most recent townhomes for sale in Shakopee. For a showing call 612-384-2178 or contact via email. Thank you!

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2012 Shakopee Real Estate Market Recap

2012 was a great year for the Shakopee real estate market.$118,804,566 in volume was sold, up from $112,846,879 in 2011 but fewer homes were sold 596 in 2012 vs 626 in 2011. Home prices were up from 2011 RMLS numbers, more volume sold, homes sold in fewer days and interest rates dropped even further than the record levels they were at. The average sales price of all Shakopee homes for 2012 was just under 200k at $199,337 which was up about 9.6% from the 2011 average price of $180,267. Price per sqft was $91.34 for 2012.

Shakopee Townhomes

shakopee real estate recap 2012As previously stated there are not many Shakopee townhomes currently on the market, but that did not stop them from selling this year. Shakopee had a total of 237 townhomes sold in 2012 representing 39.8% of all real estate sold, not too far off of typical years. I saw and personal represented many investors who purchase townhomes for rental properties. One future concern I have is how will these townhome developments hold up in future years with so many rentals. I do see assn dues rising across the board. The average sales price of townhomes in Shakopee rose from $110,572 in 2011 to $119,202 (average price per sqft was $78.02) in 2012, a 7.2% increase.  Townhomes only took on average 107 days to sell compared to 153 in 2011 to sell. We were even seeing multiple offers on short sale homes toward to end of the year because of the lack of inventory on the market. Speaking of short sales and other distressed property, about 64% of all townhome sales in Shakopee in 2012 were either short sales of foreclosures. 24% were short sale in which the seller negotiated with the bank to take a lesser value than what was owed due to a hardship. 40% were foreclosures/ banked owned properties.

Shakopee Single Family Homes

There were still plenty of Shakopee foreclosures as well as short sales with single family homes. 358 single family homes sold in Shakopee in 2012, 78 foreclosures (21.8%)and 31 short sales (8.7%). At first comparing town homes to single family distressed properties seemed very high given only 22.6% of all single family sales were consider “distressed” property vs a whopping 64% of a town home sales, but when you look at the explosion of townhomes being built in the early 2000’s that makes a ton of sense. Many buyers purchase townhomes at the height of the market and now many were unloaded. In hindsight purchasing single family would have made much more sense for those buyers and even the average sales price indicates that being the  sales price in SHakopee was $254,533 in 2012, up 11.7% from of $224,784 in 2011. Average market time fell 23.3% to only 102 average days on the market and price per sqft settled in at just over $100 per sqft ($100.46).

Shakopee Homes For Sale

The current Shakopee real estate market is a bit of a slow one, but that is pretty common this time of year. This is the lowest inventory that I have seen for years if not even since 2001 when I started. Only 106 Shakopeee homes for sale are listed on the RMLS of Minnesota. Currently there are only 77 that do not currently have an offer, 62 single family homes and 15 townhouses. In previous years Shakopee would have about 40-45% of the market represented by townhouses compared to the rest of the homes on the market. The cheapest home in Shakopee right now is listed at only $59,900 at 9081 13th Ave E Shakopee and the most expensive home in Shakopee at $912,000 however that home is a “to be built” new construction home on Pribyl Pond. The most expensive home standing right now on the market is at 630 Bluebill Circle Shakopee list at $799,900.

Search All Shakopee Homes For Sale Currently Listed

Real Estate Inventory in Shakopee Declining

The Shakopee real estate inventory of homes has been slowly declining. After having about 300 or 350 home for sale at any given time the residential inventory of houses and townhomes for sale is now around 140 properties on the market.

Active MLS Listings

As of November 7th there were 142 homes listed for sale. Of those 142 homes there were 103 single family homes and 39 townhomes, twinhomes and condos listed. Still there are many short sale listings and if you remove those short sale listing that are considered “sold subject to third party approval” only 125 real estate listings remain. Furthermore many other homes are listed as active but may by waiting on the inspection contingency to expire, condo doc period to expire or waiting on signatures if it is a bank owned foreclosure. When we look at homes with NO contingencies only 108 homes are available with no offers. This creates many great opportunities for sellers if they are thinking of listing their home as competition has dwindled. Although we are getting into a slow time of year, buyers are still out there. Currently the average listing price for single family homes is $274,840 with an average time on market of 125 days; townhomes are averaging a list price of $146,307 with an average days on market of 133 days.

Homes With Pending Offers in Shakopee

Pending homes are those considered sold, but are waiting to close escrow on the home. Currently 62 homes in Shakopee are pending, 37 single family homes with an average pending price of $242,046 and 25 townhomes with an average price of $138,150. Respectively single family homes averaged 100 days on the market and while averaged 84. Pending prices are NOT the sold price, just what they were listed at when they went from active MLS listings to the pending. Over the last year the Shakopee real estate listing price to sales price averaged OVER list price but just barely at 0.3% and over the last 90 days the market bared similar statistics.

We have seen the market come to a bit slower pace than this past summer but much of that I am sure is due to the election as well the the typical cyclical real estate cycle.

New Shakopee Real Estate Listings


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Sale Fell Through, Back on Market! Rambler on 1+ Acre Lot

This Shakopee short sale was just approved by the bank and the buyer cancelled the purchase agreement. We have a bank approval at a sales price of $335,000 with the buyer assuming all assessments for the city sewer and water lines that were connected.

523 Barrington Ln, Shakopee

Solid rambler with  great sqft and a large open layout. The home sits on an acre lot with a parklike setting. 523 Barrington ln has over 4200 finished square feet.  4 bedroom, 4 bathrooms, harwood floors, raised oak cabinets, formal dingin room, two sided fireplace, sunroom and more.

Call 612-384-2178 to set up a showing and ask for Shakopee realtor Tom Scott.

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Shakopee House on Wooded Lot Near Golf Course

This home is a short sale listing with great potential. Tons of opportunity for this Shakopee house near Stonebrooke golf course and Lake O’Dowd. The home sits on a large wooded lot.

2645 Lakeview Drive Shakopee MN MLS #4175112

2645 Lakeview Drive in Shakopee is located directly acorss the street from the golf course and is on a heavily wooded lot in the Timber Trails real estate development in Shakopee. This highly sought after neighborhood is much due to the proximity to the lake, golf course and larger lot sizes. 2645 Lakeview drive has about 1215 sqft on the foundation and almost 3500 sqft in total with a large three car garage.

Upper Level of 2645 Lakeview Drive in Shakopee

The upper level of this Shakopee house has three bedrooms and two bathrooms. The master bathroom has a large walk in shower with glass block.

Main Level of 2645 Lakeview Drive Shakopee MN

The main level of this Shakopee home is very nice. As you enter there is a formal dining room to the left and the stair to the right leading you up to a catwalk that leads to the bedrooms. The catwalk overlooks the entryway. There is a very large kitchen and informal dining space/ hearth room with fireplace. The great room has a fireplace and custom built in to enjoy. There is a three season screened porch on the main level to enjoy the wooded privacy of the backyard in the summer. There is also a half bath and a separate laundry room.

Lower Level of 2645 Lakeview Dr in Shakopee

The lower level is ready for entertainment! Numerous spaces for a family room/ theater and there is also space for a pool table or other game room furniture. There is also a large fourth bedroom and 3/4 bathroom.

New Shakopee Short Sale Realtor Listing

1104 Polk St S Shakopee is a split level on a large pie shaped lot with many trees. Located on the West side of Shakopee near the Mall and movie theater this home has three bedrooms and 2 full bathroms. The garage is a large space 24 x 24. This Shakopee short sale listing is about 1844 sqft and built in 1992. For a private showing contact local Shakopee Short Sale Realtor, Tom Scott. The home is on a walkout lot.

1104 Polk Street South Shakopee photos: