The last 3 years the inventory of homes has decreased. This has added to higher prices and shorter days on the market. This year of 2017 is no exception and we have moved in a sellers market for many areas and price ranges. It is important that you understand each areas inventory at the price range you are looking or selling to determine the correct sales price, and factors that determine the amount of interest and size of the buyer pool for the home. Your real estate professional will provide the needed information for you to make an educated decision.
Here is a link to the startribune.com article titled “Twin Cities housing market expected to tighten more in 2017” for more information.
For many areas and price ranges throughout the Twin Cities there are more buyers than sellers.
How does that impact you as a buyer?
Inventories are projected to be even less than last year and the buyer pool is also not projected to be less than last year. This equates to more buyers per listing and increase the possibilities of multiple offers, higher sales prices and decreased days on the market. Add to that the federal reserve’s comments of raising interest rates this year and sense of urgency for the buyers increases.
How does that impact you as a seller?
Depending on price range and areas the decreasing inventories will benefit you with higher prices, shorter sale period and multiple offers.
It is up to you agent to review the market for what areas and price range you are buying or selling in. For further information click here for the link to the startribune.com article from 1/14/2017 titled “For Twin Cities home buyers this year, the thing that matters most is speed”
I had the pleasure to interview Jeff Blixt who is the President and owner of Inspectahomes which is the oldest and largest inspection company in the Midwest. Inspectahomes has been doing inspections for 30 years and has done over 150,000 inspections in the Twin Cities area. A home inspection is a critical part of a […]
Real estate in the Twin Cities has hit a 10 year high! The combination of mortgage rates at a record low and the low inventory of homes for sale have attributed to the rapid appreciation we are seeing in this real estate market. What this means to buyers is in many cases we have multiple offers but on the other side of the coin they are getting incredibly low mortgage rates and wonderful affordability because of the low monthly payment. With the premium that apartments are getting more buyers see they can own for cheaper than renting a similar home and that is before the tax saving that both the federal and state governments provide for home ownership and interest write off. Compared to 2006 there were almost 30,000 homes for sale and today there are around 13,000. The worry for some consumers is that in selling their home and then not being able to turn around and purchase something after they sell since the market is competitive. They fear of the the possibility of selling their home and not being able to find something they want due to low inventory and competition from buyers and multiple offer situations. I’m able to work with my sellers in this regard with a number of strategies that may include selling it subject to the sellers finding a home of their choice. Sellers in the 350,000 and below have an easier time than those above that price range that can be frustrated that all the press states what a great market it is but they are receiving limited showing and no offers…the market is very location sensitive in a wide range of prices and it is up to your real estate agent to provide you with the facts of your area for the demand in your homes price point.
In conclusion while this market has made a wonderful recovery if you listen to all the media…it has in some areas and in some price ranges and is soft and yet still a buyers’ market in others. Rely on the experience and data from an experienced real estate agent to help you through this process and trust they are your advocate in negotiating the complexities of this challenging Twin Cities real estate market.
This lovely estate has the uncommon combination of privacy, a private pond and an exceptional home in
Sunfish Lake…a rare opportunity.
While the estate speaks of beauty and peacefulness, the details speak of quality and comfort!
- Beautiful 4.2 acre lot with a lovely private pond
- Foundation size of 3,474 and total finished size of 5,878
- In-ground pool with 12 feet as the deep end
- Brick and stucco home
- Main floor office with mahogany wood and fireplace
- Gourmet kitchen designed and renovated by Northstar
- Updated master bath with high-end finishes
- Dramatic living room has arched windows, vault and fireplace
- Spacious dining room is framed by large square pillars
- Sunroom overlooks the back porch and pool
- Large ear-in kitchen area which includes a pantry
- Main floor laundry with ceramic pedestals
- Spectacular staircase surrounded by windows
- Handsome billiard room with tin ceiling
- Private wine cellar
- Two newer furnaces and AC units
- Home has four bathrooms and four bedrooms
- Wood shake roof
- Lower level family room has a stone fireplace and media area
- Second kitchen in the lower level for entertaining
- Three fireplace in the home
- Insulated three car garage
- An abundance of climate controlled storage
- Built in 1991 and renovated in 2002
- School District 197
Sunfish Lake School District 197
Garlough Environmental Magnet School – Fact Sheet
Pilot Know Stem Magnet School – Fact Sheet
Mendota Elementary School – Fact Sheet
Somerset Elementary School –Fact Sheet
Moreland Arts & Health Sciences Magnet School – Fact Sheet
Henry Sibley High School – Fact Sheet
Private Schools Near Sunfish Lake
St. Thomas Academy – About Us
St. Croix Lutheran – About Us
Trinity School at River Ridge – About Us
Colleges/Universities near Sunfish
This home has a year round conservatory and designed in so every room has a lake view. The conservatory can be used all year with an air conditioner, in-floor heating and a gas heater. Wonderful home located on 5.9 private acres and features 200 feet of panoramic water views. Truly an exceptional setting!
Wonderful experience to have the water fun and views of a lake home, the privacy of a gated community and still be located right in the center of the Twin Cities community with quick access to both downtowns and exceptional shopping. This is a one-of-a-kind opportunity.
Sunfish Lake has no public access, 1.5 miles long by .25 wide. This home and most grounds are entirely private.
Unexpected Attributes of 2 Sunfish Lane
- Located on 50 foot deep, 55 acre Sunfish Lake with no public access.
- House and most of grounds are entirely private.
- Every room has a lake view (except bathrooms). Even the basement.
- Master bathroom has a Jacuzzi tub, a steam shower, and a heated floor.
- Conservatory is entirely private and is used 24/7, 365 days a year with an air conditioner, in-floor heating and a gas heater.
- Mudroom lock and thermoset are remotely controllable over the internet.
- 2 gas and 1 wood working fireplaces.
- Can dive into lake off end of dock.
- Can dive off of floating raft.
- Lake water entirely safe. Can be used for drinking.
- All gardens plus lakeside lawn have water sprinkling system.
- State studies show lake has almost no pollution runoff from surrounding properties.
- Vegetable garden entirely protected from animals. Has watering system.
- Built-in central vacuum cleaner system.
- House central air conditioned.
- Built-in central humidifier.
- Mailbox by front door. Newspapers delivered to front door.
- Circular driveway expedites arrivals and departures.
- 3 Car garage and parking for 6 addition cars.
- All floors wired for cable TV.
- Potential for separate apartment or office with own entrance.
- House distant from neighboring roads so seldom exposed to traffic noises.
- North runway on airport lightly used resulting in minimal airplane noise.
- Separate playroom with own exterior entrance.
- 10 Minutes to airport. Arriving guests can call house from plane and be picked up without waiting. (No need to use cell-phone lot.)
- 21 Minutes to Wells Fargo Building in Minneapolis during non-rush times. About 30 minutes during rush times.
- Average of 40 Minutes to downtown Minneapolis on Light Rail (Including parking at Fort Snelling lot).
- 15 Minutes to downtown St. Paul.
- 15 Minutes to Mall of America.
- Under 10 Minutes to Super Target on Robert Street.
- 5 Minutes to I-494. 7 Minutes to I-35E or US52.
- Minimum lot size: 2 ½ acres with most houses on 5 or more acres.
- Real Estate taxes at $10,000 about ¼ of comparable Minneapolis homes.
- City of Sunfish Lake has the highest average family income in Minnesota and surrounding states.
- Sunfish Lake’s has no municipal buildings, no paid managers, and unpaid City Council resulting in low city expenses and taxes.