Real Estate Blog for the North & East Twin Cities

What’s My House Worth in Forest Lake, MN? Or Lino Lakes, Ham Lake, Scandia or Blaine?

Fri, 18 May 2012 18:58:39 -0700

It's not a trick question. But it can be tricky to get a realistic answer because whether it is a buyer's market, seller's market or something in between, there is no simple way to come up with an exact market value for the average homeowner

Many people think if they pull out the big vinyl envelope from the last time they refinanced they have a document with an accurate home value. After all good money was paid, usually several hundred dollars, for an appraiser to come up with a dollar figure of value for the bank to approve the loan. So is the appraised value what your home is worth?

Some people look to the assessed values that arrive on an annual basis from the Anoka County or Washington County assessor. It seems reasonable that this would be an indication of a property's current value.

Another resource internet savvy people look to for an idea of the value of their home is an interactive real estate website like Zillow or Trulia. Type in the property address and within seconds a slew of interesting information pops up the computer screen. But is a Zestimate value as accurate a resource as Kelly's Blue Book is for an automobile?

In a word, no. But all of these values and resources do provide some clues to the value of a property.

People with no plans to sell their home, will often use these resources to get a ballpark idea and indication of their home's value. But if a homeowner wants to put their home on the market and sell, there is no special real estate Magic 8 Ball for determining the best starting price. A savvy home seller will work with a knowledgeable REALTOR®, who knows their community, to get the best advice on their home's market value.

Many things affect the selling price. For instance a Forest Lake area home located on the west side of 35 in Columbus with quick access to 35, convenient to schools and shopping might be more desirable to buyers than a home on the far eastern side of Forest Lake. But a home in town with public utilities rather than a private well and septic system also affects market value. Value is also dependent upon whether or not the property on a busy road, near power lines or close to parks and playgrounds. And of course the home's ammenities like, square footage, how many updates have been done to the home and do they fit the property and the neighborhood need to be assessed. Considerations like these are only the tip of the iceberg in determining a market value of a home.

As a REALTOR®, I serve the communities in the Forest Lake school district and Anoka County. From Forest Lake to Hugo and Lino Lakes to Blaine and beyond, I keep my ear to the ground to hear what affects the prices of homes in the north and east Twin Cities metro area. Are you planning to move this summer and need to know what your home is worth? Do you want expert advice from someone who knows the Anoka County and Forest Lake District #831 area? Let me help you! CLICK HERE to schedule a FREE market value assessment. I won't bring a magic 8 ball, instead I will bring my real estate pricing expertise and experience!

Current Forest Lake Featured Home:
4BR/3BA/3Car on 1/2 acre city lot with Granite&Master Suite! $274,900
23086 Havelka Court N, Forest Lake 55025

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet or FREE Homebuyers Success Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Buying a Home? Check out my HOME BUYER'S BLOG!

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JUST LISTED 23086 Havelka Ct N, Forest Lake, MN 55025

Thu, 03 May 2012 17:33:56 -0700

Welcome to 23085 Havelka Ct N, Forest Lake MN!

Just Listed at $274,900

Spectacular HomeFull of upgrades!

Granite, Vaults, Slate Tile and More

Move in perfect!

BEAUTIFUL Inside and OUT!

Love the huge yard and privacy from the moment you drive into the cul de sac!
inside this home is also a treasure! GRANITEcounters! SLATE Tile floors!
Hardwood Floors! PAVER patio! MAINTENANCE-Free DECK! NEW Hot Water Heater! Master suite
with private full bath designed with in-floor heat, granite vanity and separate tub & shower! 2300+ Finished
square feet plus three stall garage.

·Perfectly Enhanced Kitchen—Custom Cabinetry, Slate tile backsplash, Granite Counter & Breakfast bar, walk-in pantry, and hardwood flooring.

Vaulted Open Floor Plan—Soaring vaults enhance the living room that opens to dining area and kitchen, the living room area.

Master Suite Full of Upgrades—Spacious bedroom, walk-in closet and full master bath with whirlpool tub and separate walk-in shower all with slate tile surround. Slate tile flooring with in-floor heating. Stylish granite double sink vanity.

4 Huge Bedrooms & 3 Full Bathrooms——3 of the bedrooms are on the main level and a fourth is just off the lower level family room. All bedrooms are good sized and bathrooms are designed with upgraded amenities.

Huge Family Room features walkout to recently installed paver patio, area for dining or pool table. Area to watch television & relax while enjoying the surround sound wired throughout. Dry bar area with granite counter and mini fridge.

· Perfect Office Bright, sunlit area open off of family room is perfect place for office.

Spacious Yard with Loads of Curb Appeal--Huge backyard features wooden privacy fencing and plenty of places to garden & play. In-ground sprinkling system to keep lawn lush and green. Stone front and maintenance free vinyl siding. Cement driveway. Almost ½ acre of privacy with wooded area and stone retaining wall.

CLICK HERE to TAKE the Virtual Tour &see more of this BEAUTIFUL Forest Lake Home!

Need more information about purchase this beautiful 4 bedroom Forest Lake Home?

Call me, Teri Eckholm/ReMax Specialists at 651-336-7073

Buying a Home? Check out my HOME BUYER'S BLOG!

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6 Essential Home Repairs for Spring in Minnesota

Wed, 02 May 2012 13:48:16 -0700

Spring Repairs to Maintain Home Values in Minnesota

A few weeks ago, annual property tax notices reach the mailboxes of many Anoka County and Washington County homeowners. Assessors processed this information based on last year's sales and assessments so while the real estate market is picking up, many home assessed values continued to decrease. The county assessor will often review a home from the exterior and make a value determination.

So as spring has sprung, it's time for Minnesota homeowners start thinking it's time for the "honey-do" list of spring projects.

Keeping your home in tiptop shape is essential in optimizing your property’s assessed and market value. Even if you don’t intend to sell your home this summer, there are a few essential things to check, repair and or replace after ever Minnesota winter. As REALTOR® in the north and east Twin Cities metro, I see many properties that have not been properly cared for. Throughout Anoka County, Chisago County and northern Washington County, the areas where I work extensively, I have seen houses with interior ceiling damage from leaking roofs, potholed, cracked driveways and decks that are downright scary to walk on.

Surprisingly, these are not all foreclosure homes. It is frustrating to have to make repairs just prior to selling your home. Some traditional sellers who chose to sell in recovering real estate market and are frustrated as they often will have to make thousands of dollars in repairs in order to sell due to lack of maintenance--or make a drastic price concession to a buyer. Not making the repairs means pricing your home to compete directly with foreclosure homes. Offers on under-maintained homes come in at thousands less than expected--If they get offers at all. Neither choice is appealing to sellers when values are depressed.

I have often heard a seller wish they had chosen to keep the home in better condition over the last decade so they could have enjoyed the benefit of a well maintained home. It is much more beneficial and cost effective to assess your property on an annual basis and make repairs as necessary.

Here are 6 spring maintenance tips that will not only beautify your home, but also aid in retaining your home’s value for years to come:

Roof—Walk around the exterior of your home with binoculars and check for any missing or curling shingles. Shingles on roofs can be blown off in severe winter weather. If any are missing or you see other concerns such as curling or partial shingles, bring in a contractor to assess the damage and make repairs before you have water damage on the interior of your home.
Siding—Power wash debris buildup from vinyl or aluminum siding. Buildup can stain siding overtime.
Deck Settling—Check for any settling or worn boards on your deck especially if it is several feet off of the ground. If the supports of your deck appear to be pulling away from the home or if the boards are weather-worn, have it reviewed by a professional before that first summer barbeque.
Paint & Stain—Did the harsh winter sleet, snow and ice cause the paint or stain on your siding, trim or deck to start to peel? Now is the time to assess the damage.
Gutters—Gutters filled with leaves? Take the time to clean out to prevent water backups. Keeping water away from the foundation is the best way to keep water out of your basement. If your gutters are clogged, they cannot do the job and the rains will pour right over the clogged-gutter’s edge near the walls of your home. Consider adding screens or guards to prevent leave buildup in the future.
Driveway—The winter’s freeze and thaw cycle can do damage to an asphalt driveway. Cracks need to be filled or they will get worse. It is recommended that blacktop driveways also be seal-coated every 2 years. If the driveway has long term exposure to extreme sunlight, seal coating might be recommended on an annual basis to extend the life of your driveway.

Buying a Home? Check out my HOME BUYER'S BLOG!

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Shoreview, MN Real Estate Market Statistics Mid Year 2011

Mon, 15 Aug 2011 17:32:12 -0700

Shoreview, Minnesota attracts attention for many other reasons besides the twin, skyscraping, radio transmission towers reaching high 1400+ miles into the air. Though not officially incorporated until 1957, Shoreview has a rich history. A good portion of what is now known as Shoreview was once inhabited by Dakota and Ojibwe Native America tribes. It was ceded to the US Government from the Ojibwe in 1837 and soon became known as a farming community. The Soo line of the railroad expanded into Shoreview in the late 1800’s and soon New Englanders and other European settlers came to farm the land. The iconic radio towers weren’t built until much later in 1963 but those three towers on 694 are still the tallest structures in the state of Minnesota. According to the 2000 census, nearly 26,000 people called Shoreview home. No doubt this decade’s survey will only add to the number of residents in this vibrant community.

But what is happening in the Shoreview real estate market during the first half of 2011? Let’s take a look:

The Shoreview market appears strong for both single family andtownhomes/condos in all price points under $500,000. Over half a million, with only four sales, it appears to be several years’ worth of inventory on the market. This is a similar situation to homes across the Twin Cities however in many other communities in the north metro, the price cut off is much lower. Sales slow and inventory starts building at the $300,000 price point and above in many neighboring communities like Blaine and Lino Lakes. While homes have started to sell and inventory levels are much more manageable in lower price point categories, executive, lakeshore and other high valued homes have lots of competition.

Overall Shoreview’s real estate market is solid with homes are taking about 5 months to sell on average during the first 6 months of 2011. Single family homes are selling about 30 days faster than area townhomes/condos on average. Hopefully this continued momentum will continue through the rest of 2011.

2011 Mid-Year Average Sales Price of all homes sold in Shoreview:

All Homes $204,061 Single Family Homes$253,933Townhomes/Condos$121,6192011 Mid-Year Average Cumulative Days on Market in Shoreview: All Homes 148Single Family Homes131Townhomes/Condos163

1^st Half Shoreview residential real estate statistics for single family homes:

Under $200,000~ 18 Active Listings, 8 Pending Listings, 28 Sold Listings, 147 CDOM

$200,000-300,000~53 Active Listings, 10 Pending Listings, 34 Sold Listings, 124 CDOM

$300,000-$400,000 ~10 Active Listings, 1 Pending Listings, 6 Sold Listings, 64 CDOM

$400,000-$500,000 ~ 11 Active Listings, 1 Pending Listings, 9 Sold Listings, 201 CDOM

$500,000-$1,000,000~ 13 Active Listings, 0 Pending Listings, 4 Sold Listings, 190 CDOM

$1,000,000 and Up ~3 Active Listings, 0 Pending Listings, 0 Sold Listings

1^st Half Shoreview residential real estate statistics for townhomes and condos:

Under $100,000~ 17 Active Listings, 2 Pending Listings, 18 Sold Listings, 197 CDOM

$100,000-200,000~ 34 Active Listings, 3 Pending Listings, 25 Sold Listings, 174 CDOM

$200,000-$300,000 ~ 6 Active Listings, 1 Pending Listings, 5 Sold Listings, 17 CDOM

$400,000-$500,000 ~ 2 Active Listings, 0 Pending Listings, 1 Sold Listings, 33 CDOM

For additional information on any current Shoreview real estate listing or for additional information on buying a home in Shoreview contact Teri Eckholm RE/MAX Specialists directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/11 through 6/30/11.

FEATURED LISTINGS IN SHOREVIEW MN

4675 Dale St N, Shoreview MN 55126 4BR/3BA/3Car for $274,900

Buying a Home? Check out my HOME BUYER'S BLOG!

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TEN Reasons Shoreview MN is A GREAT Place to Call HOME!

Fri, 02 Jul 2010 17:19:27 -0700

Shoreview, Minnesota attracts attention for many other reasons besides the twin, skyscraping, radio transmission towers reaching high 1400+ miles into the air. Though not officially incorporated until 1957, Shoreview has a rich history. A good portion of what is now known as Shoreview was once inhabited by Dakota and Ojibwe Native America tribes. It was ceded to the US Government from the Ojibwe in 1837 and soon became known as a farming community. The Soo line of the railroad expanded into Shoreview in the late 1800’s and soon New Englanders and other European settlers came to farm the land. The iconic radio towers weren’t built until much later in 1963 but those three towers on 694 are still the tallest structures in the state of Minnesota. According to the 2000 census, nearly 26,000 people called Shoreview home. No doubt this decade’s survey will only add to the number of residents in this vibrant community.

Here is a top ten list of reasons why Shoreview Minnesota is such a great place to live.

#10—Turtleman Triathlon. Shoreview is home to Minnesota’s oldest triathlon, the Turtleman Triathlon which is run every August starting at Turtle Lake park. Hundreds of athletes take to the streets and shores of Shoreview for this annual summer event.

#9—Free Music and Movies! Concert in the Commons has been an annual tradition from June thru August. In 2010, free movies were added to the mix of family-friendly activities being shown at the Shoreview Commons Pavilion on Friday evenings in August. Bring popcorn or a picnic and have fun.

#8—Einhausen Sister City. For nearly a decade, the City of Shoreview has had a unique relationship with Einhausen, Germany as its sister city. As sister cities, Shoreview and Einhausen are partnered to promote a cultural understanding between the United States and Germany by creating opportunities for residents in the two communities to form personal relationships.

#7—Awesome Schools. Although Shoreview does not have it’s own secondary schools it is served by two highly rated school districts: Roseville School District 623 and Mounds View School District 621. It also has three community based public elementary schools within its borders: Emmet D. Williams Elementary School , Island Lake Elementary School, Turtle Lake Elementary School .

#6—Lakes & Parks. Shoreview has several of Minnesota’s 10,000 lakes within its borders. The largest and most notable are Island Lake, Lake Owasso, Snail Lake and Turtle Lake but there are also several smaller named lakes in Shoreview including: Grass Lake, Emily Lake, Lake Judy, Lake Wabasso, and Martha Lake as well as Rice Creek to enjoy the view of one of Minnesota’s greatest resources. And as for parks, there are too many great ones to mention…just check out this link to some of the best! Shoreview Parks & Playgrounds

#5—Bicycle Friendly Community! According to Shoreview’s community website, it is only one of three communities in Minnesota to have earned a “Bicycle Friendly Community” award. The Twin Cities Bicycle Club has notes several rides on it’s schedule on Shoreview’s trails all summer long!

#4—The Tropics! Where do you go for a little splashing fun when the Minnesota lakes are frozen? Why the Tropics of course! The Tropics Waterpark is an indoor oasis located in the Shoreview Community Center for kids of all ages to enjoy some water fun whether it is too hot & humid or cold & blustery. Since it opened, it has been a popular birthday party venue for residents in the north metro. But most people don’t want to wait for a party, everyday is a party at the affordable Tropics Waterpark.

#3— Enjoy a Slice! The Slice of Shoreview is an annual summer event with something for everyone. This community extravaganza held every July includes fun activities that have included a petting zoo, parade, car show, art fair, talent show and carnival. It is as fun as a county fair and an event the entire family can enjoy!

#2—Eclectic Options for Living. Whether you want the convenience of a low-maintenance townhome or condo, a home with a lakeshore view, a 1950’s rambler or bungalow, or a recently constructed, modified two story, you can find an affordable option to rent or purchase in Shoreview.

#1—Friendly People. The number one reason for living in Shoreview is the welcoming community atmosphere. Isn’t that what most people search for in a place to call home?

Additional Articles that might be of interest:

Think you could be at home in Shoreview, MN?

Buying a Home? Check out my HOME BUYER'S BLOG!

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White Bear Lake, MN Real Estate Market Statistics 2011 to End of 3rd Quarter--Including Lakeshore Homes Available

Wed, 09 Nov 2011 18:41:09 -0800

Legends aside, today the White Bear Lake community is a vibrant area that is continually growing while preserving its rich heritage. There is no doubt that the shores of White Bear Lake are the most well known as one of the largest lakes in the north metro as it spreads from Ramsey County into Washington County. But there are two other lakes in the City of White Bear Lake: Birch Lake and Goose Lake as well as Bald Eagle Lake in White Bear Township. This town is the home of the White Bear Lake School District #624 and Century College while encompassing 11 square miles of land. Real estate opportunities include both historic homes and recently constructed residences. First time buyers, executive home buyers, retiring downsizers and luxury lakeshore buyers have a wide variety of options if the choose to call White Bear Lake home.

Overall the market in White Bear Lake seems to be okay. However, the average sales price of homes is lower this year than in 2010 and cumulative days on the market (CDOM) is up. By the end of 3rd quarter, inventory has started to decrease. No doubt this has less to do with sales and more to do with people taking lakeshore of the market as winter approaches. There is roughly 3 months of inventory of single family homes and 6 months of townhome/condo inventory for homes listed under $200,000. While in the higher price points, it will take 9-12 months to absorb the current inventory, if no additional homes were listed. There is still a good selection of homes in every price point as the end of 2011 approaches. This is great news for anyone considering a purchase now. Combine the low interest rates, lower sales prices on homes with a strong inventory will give the advantage to the home buyer.

2011 to end of 3rd Quarter Average Sales Price of all homes sold in White Bear Lake:

All Homes $ 194,966
Single Family Homes $ 208,012
Townhomes/Condos $151,537

2011 to end of 3rd Quarter Average Cumulative Days on Market in White Bear Lake:

All Homes 172
Single Family Homes 154
Townhomes/Condos 344

2011 to end of 3rd Quarter White Bear Lake residential real estate statistics for single family homes:

Under $200,000~ 71 Active Listings, 2 Pending Listings, 172 Sold Listings, 142 CDOM (Lakeshore Subgroup 1 Active, 0 Pending, 1 Sold, 13 CDOM)

$200,000-300,000~38 Active Listings, 2 Pending Listings, 62 Sold Listings, 152 CDOM (Lakeshore Subgroup 5 Active, 1 Pending, 2 Sold, 419 CDOM)

$300,000-$400,000 ~ 14 Active Listings, 1 Pending Listings, 13 Sold Listings, 138 CDOM (Lakeshore Subgroup 4 Active, 0 Pending, 1 Sold, 37 CDOM)

$400,000-$500,000 ~ 8 Active Listings, 0 Pending Listings, 6 Sold Listings, 320 CDOM (Lakeshore Subgroup 2 Active, 0 Pending, 7 Sold, 222 CDOM)

$500,000-$1,000,000~ 21 Active Listings, 0 Pending Listings, 8 Sold Listings, 254 CDOM (Lakeshore Subgroup 12 Active, 0 Pending, 1 Sold, 488 CDOM)

$1,000,000 and Up ~ 12 Active Listings, 0 Pending Listings, 2 Sold Listings, 499 CDOM (Lakeshore Subgroup 9 Active, 0 Pending, 1 Sold, 471 CDOM)

2011 to end of 3rd Quarter White Bear Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 43 Active Listings, 0 Pending Listings, 64 Sold Listings, 220 CDOM

$200,000-300,000~ 8 Active Listings, 0 Pending Listings, 8 Sold Listings, 162 CDOM

$300,000-$400,000 ~ 7 Active Listings, 0 Pending Listings, 4 Sold Listings, 344 CDOM

$400,000-$500,000 ~ 0 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000-$1,000,000~ 2 Active Listings, 0 Pending Listings, 3 Sold Listings, 383 CDOM

$1,000,000 and Up ~ 0 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in the White Bear Lake area 45 Active Listings

White Bear Lake lakeshore price range: $244,900-$3,200,000

12 Homes on Bald Eagle Lake

2 Homes on Birch Lake

1 Home on Big Pond Lake

1 Home on Goose Lake

1 Home on Otter Lake

1 Home on Varney Lake

16 Homes on White Bear Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/11 through 9/30/11 for all properties sold in the 55110 zip code.

For additional information on any current White Bear Lake real estate listing or for additional information on buying a home in White Bear Lake contact Teri Eckholm directly at 651-336-7073.

Buying a Home? Check out my HOME BUYER'S BLOG!

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White Bear Lake, MN Real Estate Market Statistics Mid-Year 2011--Including Lakeshore Homes Available

Tue, 12 Jul 2011 22:57:16 -0700

All Homes $ 197,783
Single Family Homes $ 206,247
Townhomes/Condos $171,572

Mid Year Average Cumulative Days on Market in White Bear Lake:

All Homes 172
Single Family Homes 156
Townhomes/Condos 222

Mid Year 2011 White Bear Lake residential real estate statistics for single family homes:

Under $200,000~ 85 Active Listings, 31 Pending Listings, 101 Sold Listings, 134 CDOM
$200,000-300,000~68 Active Listings, 10 Pending Listings, 31 Sold Listings, 171 CDOM (Lakeshore Subgroup 4 Active, 1 Pending, 0 Sold)
$300,000-$400,000 ~ 28 Active Listings, 7 Pending Listings, 10 Sold Listings, 203 CDOM (Lakeshore Subgroup 7 Active, 0 Pending, 1 Sold, 500 CDOM)
$400,000-$500,000 ~ 19 Active Listings, 1 Pending Listings, 9 Sold Listings, 239 CDOM (Lakeshore Subgroup 3 Active, 1 Pending, 1 Sold, 62 CDOM)
$500,000-$1,000,000~ 29 Active Listings, 0 Pending Listings, 7 Sold Listings, 338 CDOM (Lakeshore Subgroup 12 Active, 0 Pending, 1 Sold, 488 CDOM)
$1,000,000 and Up ~ 12 Active Listings, 1 Pending Listings, 0 Sold Listings (Lakeshore Subgroup 11 Active, 1 Pending, 0 Sold)

Mid Year 2011 White Bear Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 66 Active Listings, 8 Pending Listings, 37 Sold Listings, 216 CDOM
$200,000-300,000~ 22 Active Listings, 1 Pending Listings, 7 Sold Listings, 140 CDOM
$300,000-$400,000 ~ 5 Active Listings, 0 Pending Listings, 5 Sold Listings, 286 CDOM
$400,000-$500,000 ~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings
$500,000-$1,000,000~ 4 Active Listings, 0 Pending Listings, 2 Sold Listings, 388 CDOM
$1,000,000 and Up ~ 1 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in the White Bear Lake area 45 Active Listings White Bear Lake lakeshore price range: $244,900-$3,200,000
11 Homes on Bald Eagle Lake
2 Homes on Birch Lake
1 Home on Echo Lake
1 Home on Goose Lake
1 Home on Long Lake
1 Home on Otter Lake
1 Home on Varney Lake
27 Homes on White Bear Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/11 through 6/30/11.

Featured Listing in the White Bear Lake Area

4500 Oakhurst Ave, Vadnais Heights, MN 55127

For additional information on any current White Bear Lake real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.

Buying a Home? Check out my HOME BUYER'S BLOG!

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White Bear Lake, MN Year End Real Estate Market Statistics MidYear 2010

Mon, 19 Jul 2010 16:36:09 -0700

Just about everyone who grew up in the Twin Cities north and east metro is familiar with the White Bear Lake community. Whether your memories are of passing the iconic gigantic snow white bear statue at Polar Chev, swimming at Bellaire beach or setting sail across White Bear Lake, everyone seems to know something about the community. But few know the legends that surround the lake and that Manitou Island is at the center of it all. The legend has been documented by several writers but the most notable was Mark Twain who wrote of the Indian warrior who killed the great monster of a polar bear to save himself and his lover in his book, "Life of the Mississippi".

Legends aside, today the White Bear Lake community is a vibrant area that is continually growing while preserving its rich heritage. There is no doubt that the shores of White Bear Lake are the most well known as one of the largest lakes in the north metro as it spreads from Ramsey County into Washington County. But there are two other lakes in the City of White Bear Lake: Birch Lake and Goose Lake as well as Bald Eagle Lake in White Bear Township. This town is the home of the White Bear Lake School District #624 and Century College while encompassing 11 square miles of land. Real estate opportunities include both historic homes and recently constructed residences. First time buyers, executive home buyers, retiring downsizers and luxury lakeshore buyers have a wide variety of options if the choose to call White Bear Lake home.

Mid Year 2010 Average Sales Price of all homes sold in White Bear Lake:

· All Homes $ 207,697
· Single Family Homes $ 216,994
· Townhomes/Condos $ 166,640

Mid Year Average Cumulative Days on Market in White Bear Lake:

· All Homes 132
· Single Family Homes 121
· Townhomes/Condos 184

Mid Year 2010 White Bear Lake residential real estate statistics for single family homes:

Under $200,000~ 45 Active Listings, 21 Pending Listings, 60 Sold Listings, 102 CDOM

$200,000-300,000~50 Active Listings, 5 Pending Listings, 35 Sold Listings, 113 CDOM (Lakeshore Subgroup 1 Active, 1 Pending, 2 Sold, 88 CDOM)

$300,000-$400,000 ~ 8 Active Listings, 1 Pending Listings, 6 Sold Listings, 167 CDOM (Lakeshore Subgroup 1 Active, 0 Pending, 1 Sold, 205 CDOM)

$400,000-$500,000 ~ 7 Active Listings, 0 Pending Listings, 1 Sold Listings, 856 CDOM (Lakeshore Subgroup 5 Active, 1 Pending, 1 Sold, 856 CDOM)

$500,000-$1,000,000~ 9 Active Listings, 0 Pending Listings, 3 Sold Listings, 183 CDOM (Lakeshore Subgroup 7 Active, 0 Pending, 2 Sold, 257 CDOM)

$1,000,000 and Up ~ 6 Active Listings, 0 Pending Listings, 1 Sold Listings, 357 CDOM (Lakeshore Subgroup 6 Active, 0 Pending, 1 Sold, 357 CDOM)

Mid Year 2010 White Bear Lake residential real estate statistics for townhomes and condos:

Under $200,000 ~ 44 Active Listings, 2 Pending Listings, 18 Sold Listings, 161 CDOM

$200,000-300,000 ~ 11 Active Listings, 0 Pending Listings, 3 Sold Listings, 245 CDOM

$300,000-$400,000 ~ 5 Active Listings, 0 Pending Listings, 2 Sold Listings, 205 CDOM

$400,000-$500,000 ~ 1 Active Listings, 0 Pending Listings, 1 Sold Listings, 156 CDOM

$500,000-$1,000,000~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings

$1,000,000 and Up ~ 1 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in the White Bear Lake area
20 Active Listings

White Bear Lake lakeshore price range: $244,900-$3,200,000

5 Homes on Birch Lake
4 Homes on Bald Eagle Lake
11 Homes on White Bear Lake

For additional information on any current White Bear Lake real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 6/30/10.

Home Sales Statistics for other communities in the north metro:

Buying a Home? Check out my HOME BUYER'S BLOG!

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Blaine, MN Real Estate Market Statistics First Quarter 2010

Tue, 04 May 2010 09:12:44 -0700

I would speculate that the tax credit incentive boosted the lower end sales considerably by enticing first time buyers into the market. Cumulative days of the market (CDOM) picked up a bit in the lower price points as compared with 2009 by a few days. It is good to note that there were a few more sales in the higher price points too. There is approximately 9 and 11 months of inventory of single family homes in the $200,000- $300,000 and $300,000-$400,000 ranges, respectively. It is also important to note that there are fewer new construction properties in the over $500,000 price range and that builders are starting to construct both townhomes AND single family homes under $200,000. Builders seem to finally realize that buyers are not buying as many “McMansions” in Blaine as they had in years past. The townhome and condominium market is still selling slower than single family homes but inventory levels have come down considerably in the past year in Blaine. Existing townhome sellers must continue to be aggressive in their pricing to compete with builders if they want to sell their properties in this market. Townhomes under $200,000 have about an 16-18 month absorption rate but little is selling in higher price ranges so it is difficult to assess how long the current new townhome inventory will stay on the market.

2009 Average Sales Price of all homes sold in Blaine:

· All Homes $196,174

· Single Family Homes $216,254

· Townhomes/Condos $150,523

2009 Average Cumulative Days on Market in Blaine:

· All Homes 143

· Single Family Homes 140

· Townhomes/Condos 150

1st Quarter Blaine residential real estate statistics for single family homes:

Under $200,000~ 104 Active Listings, 53 Pending Listings, 59 Sold Listings, 115 CDOM (New Construction Subgroup 4 Active, 2 Pending, 0 Sold)

$200,000-300,000~109 Active Listings, 33 Pending Listings, 34 Sold Listings, 167 CDOM (New Construction Subgroup 35 Active, 15 Pending, 7 Sold, 113 CDOM)

$300,000-$400,000 ~40 Active Listings, 10 Pending Listings, 16 Sold Listings, 119 CDOM (New Construction Subgroup 14 Active, 5 Pending, 7 Sold, 119 CDOM)

$400,000-$500,000 ~ 21 Active Listings, 3 Pending Listings, 4 Sold Listings, 319 CDOM (New Construction Subgroup 4 Active, 1 Pending, 3 Sold, 378 CDOM)

$500,000-$1,000,000~ 20 Active Listings, 4 Pending Listings, 3 Sold Listings, 156 CDOM (New Construction Subgroup 10 Active, 3 Pending, 1 Sold, 47 CDOM)

$1,000,000 and Up ~1 Active Listings, 0 Pending Listings, 0 Sold Listings (No New Construction over $1,000,000)

1st Quarter Blaine residential real estate statistics for townhomes and condos:

Under $200,000~ 115 Active Listings, 40 Pending Listings, 20 Sold Listings, 95 CDOM (New Construction Subgroup 14 Active, 6 Pending, 7 Sold, 40 CDOM)

$200,000-300,000~18 Active Listings, 7 Pending Listings, 0 Sold Listings (New Construction Subgroup 10 Active, 6 Pending, 0 Sold)

$300,000-$400,000 ~ 4 Active Listings, 1 Pending Listings, 2 Sold Listings, 193 CDOM (New Construction Subgroup 3 Active, 1 Pending, 1 Sold, 151 CDOM)

$400,000-$500,000 ~4 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)

$500,000-$1,000,000~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)

For additional information on any current Blaine real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 3/31/10.

Home Sales Statistics for other communities in the north metro:

Buying a Home? Check out my HOME BUYER'S BLOG!

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Blaine, MN Real Estate Market Statistics First Quarter 2009

Wed, 01 Apr 2009 13:51:20 -0700

The community of Blaine has continued to grow and expand in the north metro of the Twin Cities despite the economic downturn. Just drive down Highway 65 and see the Main Street (125th) overpass to get an idea of how the significant changes have affected the community. Though housing construction had slowed during 2008, it has not stopped and continues to be a force in 2009. New developments expand the housing base, especially in the townhome and lower level price points. Conveniently located along 35W and Highway 65 and connected by Highway 10 just north of the Twin Cities, Blaine is an attractive location for both business and residential development. The community is served by three school districts; Anoka Hennepin District #11, Centennial District #12, and Spring Lake Park District #16. Blaine is best known for the National Sports Center a sport and meeting facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.

Builders' incentives to home buyers have required home sellers to be very competitive with housing prices making homes in the Blaine area extremely affordable. I predict this affordability to continue throughout 2009. Home sales slowed at year end but overall the year was not bad for lower priced homes. The homes that are selling best in Blaine are in that under $200,000 price point. My guess is a majority of the sold homes were lender-mediated, either foreclosure or short sale properties. Cumulative days of the market (CDOM) has stayed consistent with the numbers from 2008 in the lower price points. Fluctuation in the higher price points are mostly skewed due to few sales.

Last year, homes in Blaine were selling a bit faster than other areas of Anoka County but the slowdown in existing sales seems to have overtaken this community as well. Buyers looking at single family homes under $300,000 in Blaine quite a bit of inventory to choose from but the choices are down from 2008. At a rate of 28 per month sold, the inventory is manageable. Looking at current inventory levels and the rate of sales for single family residential homes priced under $200,000, there is about 9 months of inventory as it stands today. But in higher price points the absorption rate still nearly 2 years.

New construction homes sales are slow in the first quarter just as builders added inventory for the Parade of Homes. Traditional home sellers need to be aware that builder incentives continue to be very attractive to entice buyers to build rather than buy existing.

The townhome and condominium market has exploded in Blaine and builders have pulled out all the stops bringing pricing down. There is considerably less new construction townhome inventory on the market with about 6 months of inventory compared with nearly 3 years of inventory in 2007. Existing townhome sellers must make their prices very attractive even though builders' inventory is down. Townhomes under $200,000 have about an 18 month absorption rate but little is selling in higher price ranges so it is difficult to assess how long the current new townhome inventory will stay on the market.

2008 Average Sales Price of all homes sold in Blaine:

· All Homes $225,300
· Single Family Homes $253,143
· Townhomes/Condos $171,218

2008 Average Cumulative Days on Market in Blaine:

· All Homes 154
· Single Family Homes 150
· Townhomes/Condos 162

1st Quarter Blaine residential real estate statistics for single family homes:

Under $200,000~ 88 Active Listings, 36 Pending Listings, 43 Sold Listings, 137 CDOM

$200,000-300,000~100 Active Listings, 15 Pending Listings, 20 Sold Listings, 145 CDOM (New Construction Subgroup 26 Active, 2 Pending, 1 Sold, 54 CDOM)

$300,000-$400,000 ~41 Active Listings, 3 Pending Listings, 6 Sold Listings, 286 CDOM (New Construction Subgroup 20 Active, 1 Pending, 2 Sold, 30 CDOM)

$400,000-$500,000 ~ 29 Active Listings, 3 Pending Listings, 3 Sold Listings, 156 CDOM (New Construction Subgroup 9 Active, 1 Pending, 0 Sold)

$500,000-$1,000,000~ 42 Active Listings, 3 Pending Listings, 0 Sold Listings (New Construction Subgroup 13 Active, 1 Pending, 0 Sold)

$1,000,000 and Up ~2 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)

1st Quarter Blaine residential real estate statistics for townhomes and condos:

Under $200,000~ 115 Active Listings, 21 Pending Listings, 20 Sold Listings, 95 CDOM (New Construction Subgroup 14 Active, 4 Pending, 7 Sold, 40 CDOM)

$200,000-300,000~24 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 9 Active, 0 Pending, 0 Sold)

$300,000-$400,000 ~ 11 Active Listings, 0 Pending Listings, 2 Sold Listings, 193 CDOM (New Construction Subgroup 10 Active, 0 Pending, 1 Sold, 151 CDOM)

$400,000-$500,000 ~4 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 3 Active, 0 Pending, 0 Sold)

$500,000-$1,000,000~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 2 Active, 0 Pending, 0 Sold)

For additional information on any current Blaine real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.

Articles on Real Estate, Lakeshore and Minnesota that might be of interest:

If you are buying or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Buying a Home? Check out my new HOME BUYER'S BLOG!

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REDUCED! 29175 Old Towne Rd, Chisago City, MN 55013

Mon, 09 Apr 2012 12:01:40 -0700

Welcome to 29175 Old Towne Rd, Chisago City, MN

An 5BR/3BA Executive Treasure listed at $439,900

$424,900

Listed by Teri Eckholm RE/MAX Specialists

After 40 years this treasured Chisago City historical home is available for your family! Though it is a century old and retains the beauty and features of a historical property, it also has been expertly redesigned and updated to include the modern conveniences to meet the needs of the dynamic lifestyle of today’s modern family.

Designed for Entertaining With over 4,000 finished square feet and an acre of property, this home is perfect for those who love to entertain! With two family rooms, a huge eat-in kitchen, a 3-season porch, formal dining and living rooms plus a huge back deck, backyard and private tennis/basketball court, there is plenty of room for any sized group to be entertained in style and comfort. Overnight guests are not a problem as the lower level is perfectly designed for hosting short or long term visitors as it features a Murphy Bed, his and hers closet/drawers and a ¾ bath complete with full sauna.

Historical Significance Keeping guests happy has always been a part of this home’s history. The home was constructed for Frank Dahl in 1910 when the historic Dahl House resort was in its heyday as a summer get away for Minnesota’s rich and famous. (Though the resort has been gone for decades, its brick gateway still stands just a few hundred feet east of this home.) The prairie-style design of this house was obviously influenced by the architectural innovations of Frank Lloyd Wright as evidenced by its strong linear lines, extended roof overhangs, and the use of built-ins, window benches, and high windows. Though remodeled by the current owners to add an attached garage, expanded kitchen and main floor family room, every attempt was to make certain the historical beauty of the home was not only retained but also enhanced.

Updated to meet the needs of Today’s Family Throughout the home there are updates that show the home was designed to meet the needs and wants of today's modern family. These conveniences include a full kitchen remodel with granite counters, custom cherry cabinetry and tile floors with in-floor heating, a main floor family room with built-ins designed to accommodate an over-sized television, a full finished basement with living space for guests and an attached heated, insulated 4-stall garage with attic storage, a double and single garage doors in the front and a tandem single door out the back.

CLICK HERE to TAKE the Virtual Tour and see more of this BEAUTIFUL Vintage Treasure!

Need more information about this beautiful Historic Home?

Call me, Teri Eckholm/ReMax Specialists at 651-336-7073

Buying a Home? Check out my HOME BUYER'S BLOG!

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What is a Reverse Osmosis Drinking System?

Mon, 02 Apr 2007 09:46:22 -0700

As a Realtor in the northern suburbs of Minnesota, I get a fair number of city dwelling clients that consider moving to acreage in the country. The idea of a little elbow room from their neighbors or a small hobby farm appeals to many Twin City residents. And the beauty of it is, is that in Anoka and Chisago counties there are numerous, affordable homes on acreage that have a reasonable commute to employment in the cities.

Although there are several considerations when making a move to an acreage home, one important one is that acreage homes most often do not have a city sewer and water supply. These homes have private water and sewer systems or wells and septic systems. The quality of the water can vary from property to property even on the same block or community.

Living in the city, most people do not give their water supply little thought. As long as a home owner can turn on the tap and receive water, they have few concerns. There is an assumption that the city is monitoring the safety of the water that flows through the system. Occasionally, a news story will run regarding a community with contamination in the water supply. When that happens, city officials are called on to take care of the situation. However home owners with a private water supply or well, have to maintain the quality of their drinking water by themselves.

There are two types of treatment systems available to homeowners:

Water Softener
Reverse Osmosis

A water softener is designed to remove the calcium and magnesium in the water supply of the entire house. They can also reduce some of the iron but are not designed to remove all iron deposits. Hard water contains high levels of these minerals which cause a build up of scale inside pipes and make it difficult to for soap products to lather and clean. A water softener replaces the unwanted minerals with sodium (salt) which significantly reduces these problems.

Reverse Osmosis (RO) is a treatment system for drinking water. Unlike a water softener, an RO system is used only in one fixture usually located in the kitchen rather than treating the water in the entire house. It is used to remove substances that occur naturally or have contaminated the water supply. Basically it uses pressure to move the water through a membrane that allows the water molecules to past through but not the contaminants. It could be considered as "ultra filtration" because the holes in the membrane are so tiny that only water molecules, not contaminants, can fit through. The slow process effectively removes nitrates, sulfates, sodium and other contaminants that discolor and/or make your water smell and taste bad.

Typically the system is located in the cabinet below the kitchen sink. The system includes a particle filter, a R/O membrane unit, a carbon absorption post filter and a storage tank for the treated water. It does not replace your hot/cold kitchen faucet. The storage tank is connected to an additional auxiliary faucet located at the sink level.

Reverse Osmosis is a slow process that uses a lot of water. Typically five gallons of treated water will dump over 40 gallons of waste water into your sewage system. Since most well owners have private sewers or septic systems, this is something to keep in mind when considering a RO system.

Additional information on reverse osmosis drinking systems

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Buying a Home? Check out my HOME BUYER'S BLOG!

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How Does a Water Softener Work?

Sun, 01 Apr 2007 09:24:06 -0700

There are two types of treatment systems available to homeowners:

Water Softener
Reverse Osmosis

Reverse Osmosis (RO) is a treatment system for drinking water. It is used to remove substances that occur naturally or have contaminated the water supply. Basically it uses pressure to move the water through a membrane that allows the water molecules to past through but not the contaminants. The process removes nitrates, sulfates, sodium and other contaminants that discolor and/or make your water smell and taste bad.

The other alternative is a water softener which is designed to remove calcium and magnesium from the water supply of the whole house. Hard water contains both of these minerals which cause two basic problems for homeowners:

Build-up or scale inside of pipes, water heaters and plumbing systems.
Reacts with the chemicals in soap that reduces lathering and causes soap scum
A third problem...too much iron in the water can be addressed with a water softener to a minor degree. A normal water softener is not designed to remove high levels of iron that cause rust colored stains on fixtures and clothing. But some of the mineral can be reduced with the use of a water softener for homes with well water. If the iron levels in your water are significant you can consider a special treatment system designed to remove iron.

The concept of a water softener is simple. The calcium and magnesium ions are replace with sodium ions. Sodium works well with soap and detergents and does not cause scale build-up in pipes. To exchange the ions, the untreated water runs through a bed of small plastic zeolite beads that are covered with sodium ions. The calcium and magnesium ions stick to the beads and the water captures the sodium ions. Eventually the beads are completely covered with the calcium and magnesium ions and need to be regenerated with the sodium ions. Here is where those bags of salt come in...The water softener unit mixes up a brine solution of sodium chloride (salt water_ which is flushed over the beads to recharge them. Once recharged, the process begins again.

This process does discharge a large amount of waste water into the sewer system; approximately 25 gallons per cycle. If you are located on acreage with a private sewer system, additional water into your septic system is a consideration that should be weighted against the damage of hard water.

Additional information on Water Softening Process and Systems

Buying a Home? Check out my HOME BUYER'S BLOG!

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Unexpectedly Amazing Bank-Owned Homes on Anoka County Lakeshore & Acreage Homes!! (And some by traditional sellers too!)

Mon, 15 Mar 2010 18:41:15 -0700

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.

Here are a few of the treasures I noted on the Twin Cities MLS in Anoka County today:

New Construction Foreclosure Brick Rambler in Ham Lake! Acre lot, 6 car attached garage, executive 4BR/3BA with hardwood, tile, vaults and more. 80% complete. Builder price $480K, bank asking $279,900.
3500 Sq ft Executive Rambler on Ham Lake acreage. 4BR/3BA/4Car on 1.8 acre lot. Cherry cabinets. Hwd floors, media room, 2 decks +++ Builder listed for $799K in 2007. Bank asking $499K.
4+ Beautiful Acres 5BR/2BA/3Car in Columbus. Originally sold in 2005 for $322K…Bank asking $175K.
1996 Built Modified 2 Story on 25+Acres in St Francis 4BR/2BA with 3 car, wooded setting, Hwd floors, Master suite, gas fpl in finished family room listed by bank for $239K!
Coon Lake Shoreline 4BR/5BA/5Car in Ham Lake 85+ft shoreline and 2+Acres. Entertainers dream 2 Story w/2 full kitchens &Master suites! w/o basement. Original list $650K now priced to sell at $454,900.
2 story on Pet Lake in Linwood! Not a foreclosure, but priced like one! Just listed today at $180K ($40K under tax value)! Well maintained 2BR/3BA/2Car w/Hickory cabinets and SS Appliances.
New Construction Foreclosure 5BR Two Story in Ham Lake! Acre lot, Completely finished with upgrades: Cherry cabinets, upstairs laundry, private master suite. Builder price $570K, bank asking $369,900

If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.

Seven Tips for homebuyers considering a foreclosed home:

Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.
Banks reject lowball offers...no negotiation. They are a business and know the value of the asset they are selling.
Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
Banks sell homes AS-IS. What you see is what you get. Repairs will not be made.
Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.
Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.
Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.

Are YOU ready to get a great deal on a foreclosed home? Let me be your professional REALTOR®!

Buying a Home? Check out my HOME BUYER'S BLOG!

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Unexpectedly Amazing Bank-Owned Homes on Lakeshore, Acreage and throughout Washington County!

Sun, 14 Jun 2009 09:08:21 -0700

Looking for a foreclosure, bank-owned or short sale but need to be able to live in the home immediately after closing?

Good news is that foreclosures are no longer always trashed, fixer-uppers. Today's foreclosures can be simply AWESOME! This economy has forced builders and responsible homeowners alike to let amazing properties go back to the bank. Many are still in pristine condition. Some still may require a bit of cleanup or a few cosmetic changes but there are many in move in condition too.Here are a few of the treasures I noted on the Twin Cities MLS in Washington County this weekend:

2003 Built Forest Lake 2 Story. Picture-perfect 3BR/3BA/3Car home with over 2100 square feet of living space finished and unfinished basement. Last year listed at $425K bankpriced at $255K.
4BR on one level 2Story in Landings of Summerfield Forest Lake. Built in 2006 with all the bells and whistles...Master suite, granite counters, maple cabinets. Tax valued $430K...Bank asking $309K.
Lakeshore Beauty!! Almost 4700 sq ft finished, 6BR, 2 story with bank of windows to view Forest Lake. Previously listed at 700K, bank listed for under $460K.
2BR/2BA end unit townhome with vaulted ceilings in Forest Lake. Originally sold in 2005 for $173K...Bank asking $119K.
Rambler on 1/2Acre with Egg Lake View in Hugo! 4BR/3BA with 3 car built in 2005 and sold for $539K now asking $449K and not even in foreclosure!
4BR/2BA on 5Acres in Hugo. Sold in 2006 for $345K bank asking $180K includes seller pd new septic system!
New Construction Home in Victor Gardens Hugo with 2100 sq ft finished tudor with creek view priced originally at just under ½ a million but bank has listed for $369K.
West Lakeland Executive 2.8 acre Estate. 4BR/4BA/3car 2story home with nanny's quarters and inground pool. Originally asked $900K, bank priced $580K.

If you are in the market for a great deal on a foreclosed home, time to get organized because the rules to buy are a bit different than when working with a traditional seller.

Seven Tips for homebuyers considering a foreclosed home:

Banks LOVE clean offers. Buyers MUST be preapproved with credit checked and employment and funds verified. Documentation must accompany the offer or it won't be considered.
Banks reject lowball offers...often with no negotiation. They are a business and know the value of the asset they are selling.
Well priced foreclosed homes get multiple offers. Serious buyers put in their best bid first.
Banks sell homes AS-IS. What you see is what you get. Buyers must be prepared to make all necessary repairs out of their own pocket after closing.
Banks will not pay for inspections in most cases. This includes the septic system and/or well. Be prepared as all inspections could end up being the buyer's responsibility. If you chose to inspect the septic or the county requires a septic compliance test, expect to pay $400-$500 for this inspection. A well test will run around $150. A whole house inspection is $350-$500.
Personal property is not included as part of the sale. So if the appliances are at the home when you close, they are a bonus. The bank will not remove. But they don't guarantee will remain at the home or that they are in working order. This means if someone breaks in the home prior to the closing and takes them, the bank will not replace.
Having your own REALTOR® to represent your interests is essential. The listing agent is under contract to represent the bank. In many cases, the bank will not allow a dual agency so if a buyer contacts the listing agent to write the offer, the buyer does not have representation. This means all of your information goes to the bank...the listing agent is required to tell the bank everything that you say about your financing and the amount you are able or willing to pay. But the agent is not required to tell you anything in return. The agent works only for the bank.

Are YOU ready to get a GREAT DEAL on a foreclosed home? Let me be your professional REALTOR®! If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Buying a Home? Check out my new HOME BUYER'S BLOG!

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LIKE MY BLOG? Subscribe and let me email you an update!

Subscribe to Teri's Notes & Anecdotes on Twin Cities Real Estate by Email

Buying a Home? Check out my HOME BUYER'S BLOG!

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Real Estate Blog for the North & East Twin Cities

What’s My House Worth in Forest Lake, MN? Or Lino Lakes, Ham Lake, Scandia or Blaine?

**JUST LISTED** 23086 Havelka Ct N, Forest Lake, MN 55025

6 Essential Home Repairs for Spring in Minnesota

Spring Repairs to Maintain Home Values in Minnesota

Shoreview, MN Real Estate Market Statistics Mid Year 2011

TEN Reasons Shoreview MN is A GREAT Place to Call HOME!

White Bear Lake, MN Real Estate Market Statistics 2011 to End of 3rd Quarter--Including Lakeshore Homes Available

White Bear Lake, MN Real Estate Market Statistics Mid-Year 2011--Including Lakeshore Homes Available

White Bear Lake, MN Year End Real Estate Market Statistics MidYear 2010

Blaine, MN Real Estate Market Statistics First Quarter 2010

Blaine, MN Real Estate Market Statistics First Quarter 2009

REDUCED! 29175 Old Towne Rd, Chisago City, MN 55013

What is a Reverse Osmosis Drinking System?

How Does a Water Softener Work?

Unexpectedly Amazing Bank-Owned Homes on Anoka County Lakeshore & Acreage Homes!! (And some by traditional sellers too!)

Unexpectedly Amazing Bank-Owned Homes on Lakeshore, Acreage and throughout Washington County!

JUST LISTED 23086 Havelka Ct N, Forest Lake, MN 55025