Those two small words have a powerful, negative impact on the sale of your home.  Recently, I represented a client in a transaction with a low appraisal.  I’m happy to report we solved this crisis and are scheduled to close on their new home soon.

The learning experience is one I’l like to share. When an appraisal is low, it means the Buyer can only obtain a mortgage for the amount of the appraisal, minus their required downpayment. 

If a Buyer is putting 5% down on a $200,000 purchase and the home only appraises for $190000,  the Buyer can only get 95% of $190,000 in a Mortgage.  The remaining $10,000 shortage must be paid in cash by the Buyer or paid by the Seller via a reduced price.

Here are Three Suggestions to Save the Sale of your Home.

1. If the Buyer is using a conventional mortgage, the mortgage company can submit an appeal to the original appraiser or order a second opinion appraisal.  Many times it will be up to the Underwriter of the loan whether or not they accept the second appraisal over the first.  Sometimes, a Buyer changes mortgage companies entirely and starts the whole appraisal process over thereby eliminating the first appraisal altogether.  This is unfortunate for everyone, especially the initial loan officer.

2. If the Appraisal was for an FHA or VA loan, there is no starting over.  An FHA appraisal sticks with a home for at least 6 months and I believe a VA appraisal does the same.  In this case, try an Appeal Process with the original appraiser.  Usually the Real Estate Agents will provide alternative comparison properties they would like the Appraiser to review.  We tried the appeal process initially and the appraised value was not increased.  If a Buyer can switch from an FHA or VA loan to a conventional loan, their mortgage officer can order a new appraisal which may come in higher.

3. Negotiate a settlement between all parties.  This is the tricky one, but it is how most Low Appraisal situations are solved.  There are creative ways to reach a settlement, including changing the interest rate.  In our case, the Seller came down in price a few thousand dollars, the Buyers brought in a few thousand in cash  (this money was part of an increased downpayment amount) and also allowed their interest rate to go up by .25%.  The increased rate was smartly used by their mortgage officer to enable the Closing Costs to be rolled into their loan.  Interestingly, even though their interest rate increased slightly, the overall purchase price was adjusted down enough so their monthly house payment went down by $30/month.

It’s a fantastic home in Farmington and we are all pleased the initial Low Appraisal will not prevent us from closing.  For more information, read the Reasons for a Low Appraisal or email me, I am always happy to help.

Read what Sheryl’s clients say about working with Sheryl and the Selling South of the River Team!

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The post Low Appraisal? Three ways to Save the Sale of your Home… appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.

When you are buying a townhome in Lakeville, Eagan, Burnsville, Apple Valley, Rosemount or any other Minnesota City, you will have a document in your purchase agreement stipulating a 10 Day Right of Rescission after reviewing the Association Documents and Resale Disclosure.

Townhome Living is a Great Choice for Many People

It’s an important escape clause for buyers, the documents should be carefully reviewed by you and your Realtor.  If you don’t like the information in the documents you may cancel your purcase agreement and retain the Earnest Money.  I’d like to share with you my How to Reveiw the Association Documents for a Townhome checklist.

1) Read the Rules and Regulations! This section can be 5-25 pages long and is very important for the quality of living aspect. Look for specifics that are important to you including Pet Restrictions, Parking Restrictions, Use of the Land, Noise Control and Landscaping Restrictions.  Many Townhome Buyers read this section first and pay little attention to the rest of the documents.

2) Read the Articles of Incorporation and Bylaws!  Look in this section for information about how major decisions are made.  Pay attention to how much the Monthly Association Dues can be increased per year.  Most associations will have some language saying ‘the monthly association dues cannot increase by more than 5% unless there is a two-thirds majority vote’…or some type of restrictions.  Other topics to search for in this section include ‘How the Association determines Rental Policy’ and ‘Is the Association Approved by FHA’.

3) Clarify what the Association Maintains versus what Homeowner Maintains!  Identify the details of exterior maintanence including such things as who is responsible for the deck boards, deck railings, overhead garage doors, front storm doors, windows and window casings, shrubbery, sidewalks, driveways and other items.  It’s common for an association to maintain the exterior of the building but for homeowners to be responsible for ‘moving parts’ like windows, doors and garage doors.

4) Reserves and Financial Information! You should receive recent (less than 1 year old) financial information for the association.  If you have not received this information, contact your agent!  First, look to make sure the unit you are purchasing does not have any delinquent dues which might cause a problem at closing.  Secondly, study the amount of money an association has in reserves should be proportional to the amount of money needed for operating expenses per year.  If the association spends $60,000 per year on operating expenses the reserves should be about $120,000 to $180,000.

To my knowledge, there is not a steadfast rule of how much money associations must have in reserves, this is just my observation from selling townhomes in Apple Valley, Lakeville, Rosemount, Eagan and other cities.  

If you are preparing to sell your townhouse in Farmington, Lakeville, Prior Lake, Eagan or Savage, take a look through your Association Documents to be sure you have all information to give the buyer.  You will not be able to provide the Recent Financial information, that will need to come from your Association.

If you are looking for a Listing Agent for your South of  the River Townhome, we would be happy to apply for the job! Just give me a call at 612-889-6496 or send an email to the address listed in the top right hand corner.  We look forward to helping you sell your real estate!

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The post 4 Things to look for in your Association Resale Disclosure Documents… appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.

Searching for townhomes in Lakeville and Farmington yesterday for a client, I sorted possible homes based on the  Association Fees.  Some complexes have high monthly association dues and some are much lower.  It’s an important detail to watch when buying a Lakeville or Farmington Townhome because the monthly association fee is counted by Mortgage Companies when calculating the house payment you can afford.  The dues add up quickly in the payment.

Density affects Association Dues

A townhome with a List price of $139,000, association fees of $140 per month and taxes of $1600 a year will have nearly the same house payment as a townhome listed for $125,000 with an association fee of $210 per month and taxes fo $1600.

A townhome listed for $139,000 likely offers more features or nicer condition than one offered at a list price of $125,000.  Buyers in Lakeville and Farmington often focus solely on list price and miss a great property which fits their budget.  It’s smart to learn from your mortgage officer or realtor some shortcuts to calculate the monthly house payment on individual townhomes.  This knowledge will allow you to consider a wider range of property.

There are 4 main reasons the dues vary from one complex to another:

1. Difference in services paid by the association.  Items covered by association dues may include lawn care, snow removal, management fees, building maintanence, exterior materials and roofs, hazard insurance, water and sewer and heat. If an association covers all of those items it will have higher dues than an association covering just a portion of the items.  Some associations offer pools, tennis courts and playgrounds and they add to the operating expenses.

2. Serious shortage of Reserves.  Associations invest and save some of the money from dues to build up cash reserves.  When I review Association Documents and Budgets for my clients during a transaction, the average reserves are 2 to 3 years of operating expenses.  If an association has experienced an unexpected cost which depleted the reserves, the dues may be increased to build up reserves. Shortages can be caused by storm damage, lawsuits, flaws in building design or mismanagement.

3. Amount of grounds and parking lots to upkeep.  Older townhome complexes often have higher dues than newer complexes.  In the 1970′s and 1980′s when townhomes were built South of the River land was plentiful and townhome complexes did not have as high of density as townhomes built in the past 15 years.  Lower density means more grass space and more trees, sidewalks, trails and parking space.  Associations in these complexes must pay for more mowing, snow removal, and tree trimming.

4. Construction materials of the townhomes. Newer townhomes are built with vinyl siding, vinyl or aluminum windows, maintanence free trim, facia and soffits and long lasting roofing materials.  These complexes do not need regular painting and siding replacement which translates to lower operating expenses.

Remember to consider taxes and association fees along with list price when shopping for a townhome in Lakeville and Farmington. If you need assistance learning some good techniques to accurately estimate your monthly house payment use the Ask a Question, we will be happy to help.

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If you are searching for a new home in 2013 in Lakeville, Apple Valley, Farmington or Rosemount and finding the inventory level of homes for sale very low, it might be time to try New Construction.

This home is located at 20625 Fruitwood Path in Lakeville.

Lot prices hit rock bottom in the winter of 2011 and by early Spring 2012 builders and developers were beginning to buy homesites because they were just such a good value.  During this time the level of homes on the Active Market in the Twin Cities 13 county metro area plunged to record low levels.  This low level of inventory and inexpensive lots has created the Perfect Storm for area builders!

Lakeville New Construction Homes are not the only good values out there, new homes are now available in Apple Valley, Shakopee, Prior Lake, Savage, Rosemount and Farmington too. There is a mix of builders including large national chains and smaller, local builders.

New Homes are usually priced higher than a comparable existing homes, this reflects the extra value of a new home.  Those extra values include brand new systems including heating, AC, roofing, plumbing, and all appliances.  Another reason New Homes are priced higher than existing homes is the updated Style, Modern Colors, Trendy Features and Construction Method improvements.

I have shown many homes to buyers which were completely updated from the Seller’s perspective, but the Buyer’s still sited the home as feeling ‘dated’.  How can this be?  The difference which attracts so many buyers to New Construction homes is sometimes tough to perceive. 

Many existing homes are nicely updated, very well constructed and beautifully maintained.  Some Sellers of existing homes have replaced cabinetry, counter tops, carpeting, paint, light fixtures, furnaces, roofs, siding, landscaping, decks and more, only to be informed by their Listing Agent that Buyer’s think the home feels ‘dated’.

I believe Buyers who prefer new construction homes are reacting to some items which Sellers of existing homes cannot change or update.  Ceiling heights, the amount of glass space vs. wall space, (window sizes)  less interior walls dividing the living space, taller cabinets, more recessed lighting, more open staircases with windows, and larger closets are some of the items which cannot easily be changed, even in homes which are rightfully called ‘updated’.

Here’s the same home a few weeks later, looking good!

If you prefer the Style of a New Construction Home, start now to investigate your options!  Prices on lots have already risen in the past 6 months and the prices of New Homes is beginning to strengthen too.

Waiting for your current home, especially if it is an older home, to move up in value before buying a New Construction Home isn’t a wise financial choice.  While your current home appreciates in the next few years, prices of New Homes will also be rising, likely at a faster pace than your existing home.

Stop by the New Construction Homes and see the new trends, then obtain a good market analysis of your home to see if now is the right time to act.  Be sure to read the post, 4 Reasons Buyers are Purchasing New Construction Homes in Lakeville.

The new Construction Market can be tough to navigate, it’s extremely challenging to purchase a $350,000 item that does not yet exist! We must make sure the vision which is in the Buyer’s mind can be clearly defined and articulated so the Builder can create the exact product desired.

This is much easier said than done.  Be sure to work with a Realtor of your choice who is experienced in helping clients build a home and is aware of the common pitfalls.  New Home purchases involve so much more negotiation than a standard purchase agreement, everything from the amount of Earnest Money, where the deposit will be held, the price of upgrades, amount of landscaping included and more is open to negotiation these days.

New Construction sites are dangerous, even for the Signs!

After all the pain and destruction of the recent Real Estate market, it’s wonderful to witness so many Clients truly getting the Buy of a Lifetime in a brand new home. Call or email me for specific details about neighborhoods, available lots or new construction pricing.  You can also request a quick online Market Analysis here.

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The post How to Buy a New Construction Home in Lakeville… appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.

The days of Zero Downpayment Loans have been gone for a few years.  There are still some programs left which offer down payment assistance but most programs still require a contribution from the buyer.  Mortgage officers provide great knowledge of the special programs including the Dakota County Bond Program. Also, the Veterans Loan, known as a VA loan does still offer a true Zero Downpayment loan.

Will I have enough money for Down payment and Closing Costs?

Special down payment assistance programs aside, the standard options for down payments are 3.5% for an FHA loan and 5%, 10% or 20% down payment on a Conventional Loan. The calculation of the down payment is straight forward, simply the purchase price multiplied by the percentage you plan to put down.

Closing Costs are the second portion of money needed to buy a house and the calculation of these costs is more elusive.

Closing Costs are often estimated to be 3% of the purchase price of your home.  I like to explain it this way:

The first 1% is usually your Loan Origination Fee.  This fee pays the mortgage company for the work they do setting up your mortgage, the loan officer and processor have a share of this fee.

I refer to the second 1% as government and processing fees.  Included in this portion are mortgage registered taxes, title updating fees, appraisal fees, title company fees, recording fees and such.

The final 1% is money the mortgage company collects from you to start and fund your escrow account.  The escrow account funding is approximately 5 months worth of property taxes, three months of insurance and one full year of homeowner’s insurance.

The % amounts are just estimates and when the price of a home is lower than $200,000 the closing costs are higher than 3%.  This happens because many of the closing costs are fixed costs, so as the price of the home goes down the percentage associated with those costs is higher.

Now for some good news!  It is possible to ask the Sellers of the property you are purchasing to pay for some or all of your closing costs.  Mortgages have certain restrictions and limitations about Sellers paying your closing costs, but most allow up to 3% of the purchase price to be paid by the Sellers of the home.

You are rolling in the closing costs and really self-financing them into your purchase.  If a Seller will accept a $200,000 offer and pay 3% ($6000) towards your closing costs, then it’s fair to assume you could have purchased the home for $194,000 if you were to pay for your own closing costs.

Today’s interest rates are at all time lows, making this closing cost self-finance practice very affordable and popular.

If you negotiate the closing costs into the price of the home, the total amount of money needed to buy a home is just 3.5% of the purchase price.  Mortgage programs including FHA and VA allow the 3.5% or a portion of it to be Gift Funds.  When you receive gift funds it must be from a Parent, Grandparent, or other type of Significant Relationship and the donor must sign a gift letter confirming the funds as a gift.

Buying a home in Lakeville, Apple Valley, Eagan, Rosemount, Burnsville, Farmington, Savage and Prior Lake is more affordable now than ever before.  The affordability is based on Home Prices and Mortgage Interest Rates.  Get started today!

Read what Sheryl’s clients say about working with Sheryl and the Selling South of the River Team!

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The post How much money do I really need to buy a house? appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.

“During the summer time, we loved walking 3 blocks to the park with the children and to this day one of their fondest memories is walking through the tunnel to the park! Plus our neighborhood is filled with wonderful, friendly and helpful neighbors, that is something I will miss too.” The location is fantastic, offering quick and easy access to commute routes, desirable schools and shopping convenience.

Rambler Style homes are highly prized in Real Estate because they offer Convenient Living, Open Floor Plans, and a Spacious Atmosphere.  Ramblers which offer Walk-out Lower Levels and 3 Bedrooms on the Main Level are valued slightly higher.

Enjoy those features at 7669 172nd Street in Lakeville, the homeowner said it best, “This home is perfect for entertaining with the openness of the kitchen, dining room, living room and the deck.   Perfect home for the women to sit around the dining room table, the men watching football in the living room and the children playing pool, ping pong or darts in the entertainment room downstairs.” It’s funny, but that’s exactly what happens at ordinary family gatherings.

“Annual Thanksgiving of 25+ will always be one of our best family memories!”

The Quality of the home impressed me when I first arrived to perform the Market Analysis.  Once a Model Home for the Neighborhood, the house shows off it’s Original Upgrades from the builder along with the numerous High Quality Updates added by the current owners.

Updates include the Stunning Red Oak Hardwood Flooring, Center Island, Custom Windows with Transoms, Subtle Vaulted Ceilings, Breakfast Area, Fresh Neutral Colors, Newer Kitchen Appliances, Great Deck, Fenced Yard, New Siding with Gutters and a Newer Roof. In fact the entire exterior has a wonderful, modern appeal.

Exposure and Natural Lighting are two items Buyers have begun to search for in their new homes.  If you like a Sunny and Bright home, this one is sure to please.  The homeowner commented, “One of my favorite moments of the day is getting home when there is still some sunlight.  I adore sunny Saturdays when my bedroom and kitchen are filled with sunlight and in the afternoon the sun sets in the living room. It’s hard to put into words, but when I am on my couch in my sunny gold living room watching a movie or reading I book I feel cozy.”

“One of my favorite pastimes at this home is getting up early, grabbing a cup of coffee and sitting out on the spacious deck listening to the birds and enjoying the rustle of the beautiful mature trees. On Winter Days, the whole family would hang out by the warm fireplace to read or watch movies.”

Click here to view the video on YouTube.

I asked the homeowner to name their favorite thing about the house, but it’s obvious there are more than one favorites! “The thing I like the most about my home is actually three things, its natural light, the neutral walls and the red oak wooden floors. When I am cooking in my kitchen, I love the layout of the kitchen and living room where I am able to laugh and talk with family and friends.  The openness of our home and the beauty of the one level makes this a perfect family home.”

“One last thing,” the homeowner mentioned, “this home has incredible storage space which really makes it clutter free and keeps it feeling spacious, even when you have a house full of people.”

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Minnesota State Statutes require this warranty as a minimum level of protection for consumers.  Builders of a new home must provide a 1 year warranty on the entire home, 2 years warranty on systems and 10 years for the ‘major structural’.  The actual language from the Minnesota State Statutes on New Home Warranty outlines the three phases like this:

(a) during the one-year period from and after the warranty date the dwelling shall be free from defects caused by faulty workmanship and defective materials due to noncompliance with building standards;

(b) during the two-year period from and after the warranty date, the dwelling shall be free from defects caused by faulty installation of plumbing, electrical, heating, and cooling systems due to noncompliance with building standards; and

(c) during the ten-year period from and after the warranty date, the dwelling shall be free from major construction defects due to noncompliance with building standards.

Building a New Home can be very Exciting!

There are several additional items in the Statute, you can read the entire article on the Minnesota Office of the Revisor. 

Warranties ‘survive the passing of title’, this is specifically stated and means the warranty stays in effect for the home even if the property is sold and title is transferred to a new owner.

Builders have a ‘right to inspect’ the defects after a buyer has informed them in writing about the problem. Home Re-modelers are also subject to warranty responsibilities.

One question I am often asked is, “What happens to the Warranty on my New Home if the Builder goes bankrupt or out of business?”.  There is a fund called The Contractors Recovery Fund, established to provide compensation to homeowners with a claim against a licensed builder who is no longer in business and has no assets.  There are limits on these funds and the homeowners recovery may be reduced or prorated if multiple claims  are made on the fund.

If you are considering building a new home, I can send you a copy of the Minnesota Statutes or I’be happy to discuss them with you.  Give me a call at 612-889-6496 or email me with questions.

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Last weekend, I was explaining my opinion to a new client whose home we are listing in Lakeville next week.  I outlined it this way, there are two groups of potential buyers out there, ‘Declared Buyers’ and ‘Undeclared Buyers’.

‘Declared Buyers’ are people actively looking to purchase a home, they have decided to act and are now taking steps such as mortgage pre approval,  listing or selling their current property or giving notice to vacate from their rental.  This group of Buyers is fairly easy to reach, they are readily found on all the major home search websites and have auto-searches set up to capture the newest listings.

Successfully Marketing a Home in the Southern Suburbs to Declared Buyers is straightforward and best accomplished with professional photos, custom text, virtual tours, property specific websites, slide shows and other top presentation materials on all major websites frequented by these buyers.

The ‘Undeclared Buyer’ group is the population at large, reaching them used to be called Mass Marketing.  In the past, Mass Marketing activities included posting a flyer at the local coffee shop, putting flyers on bulletin boards of nearby businesses,or running a star tribune ad to the entire Minneapolis Metro Area.  Mass Marketing of a Home has gotten a facelift, at least it has in my marketing plan.

Selling South of the River Social Media Marketing

Enter Social Media! It’s the fastest, most reliable, and captivating form of Mass Marketing ever known to Realtors!

I love watching the quick circulation of information through Social Media.  The other day, Laura posted one of our listings on facebook, turned around for just a few seconds to say something and when she turned back to the computer, the home already had a ‘Like” and a comment.  Wow! When we post a story about a listing we are able to track the views through Google Analytics, this past week one home received 82 click-throughs back to the website to read the whole story.  These 82 click-throughs came in the first 24 hours!

Because the Social Media audience is ‘Undeclared Buyers’, we can’t rely on standard Home Advertising styles to catch their attention.  These potential buyers do not have their ‘HomeforSale-Dar’ turned on, so they easily overlook the ho-hum This home has 3 bedrooms and 2 baths…jargon.

The Solution is  to publish information about the home in an original, entertaining manner.  If the marketing materials are fun to watch and personalized more people will feel comfortable to share it on their own facebook or twitter account.  To accomplish this, we provide 4 distinct marketing pieces, designed to work well for the Social Media audience.  In addition, we mix it up, putting a property on facebook, twitter, linked in and more.

There are limits to the effectiveness of Social Media, it should be kept in perspective.  Remember, it’s really just a digital flyer on the cyber space bulletin board of the general public.  We know it’s a long shot to find the buyer for a particular home with this method, what we are really hoping for is that someone will mention the Apple Valley Home we just listed to colleagues at work, and someone will say, “My (insert friend or relative here) is looking for a house in Apple Valley, where is that one? Can you send it to me?” All exposure is good exposure.

For a closer look at the role Social Media can play in marketing your South of the River home, take a look at our Selling South of the River Facebook page.  If you would like to discuss how incorporating a Social Media Marketing campaign might help sell your South of the River Home, just let me know.  I always love hearing from you!

Read what Sheryl’s clients say about working with Sheryl and the Selling South of the River Team!

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The post Social Media to Market my House? appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.

The most common question in a Home Seller’s mind is, “What might the Buyers ask for after their inspection?”  They may request anything, but there are a few common items.

If you Prepare your home for the Inspection, it may prevent issues before they arise!

Furnace repairs are often requested after an inspection!

It’s important to note the standard Minnesota Purchase Agreement contains language which says, “the seller warrants that Central Air-Conditioning, Heating, Plumbing and Wiring Systems used and located on the property shall be in working order on the date of closing, except as noted in this purchase agreement.”  This means if the home need repairs in one of those categories, Buyers will likely ask the Seller to complete or provide payment for those repairs.

The 4 most Common Repairs Requested by Buyers after an Inspection

Furnace Cleaning and Tune Up: Heating systems are on the top of the list!

Electrical Items: such as: faulty ground fault interrupters (GFI), double tapped circuits, exposed wiring or open junction boxes and reverse polarity outlets

Plumbing Leaks: Slow leaks at the water main, corroded valves, improper or missing shut off valves, non-vented plumbing and lack of bath fans/vented to the outside, improper venting and relief valves on Hot Water Heaters

Water Intrusion and Exterior Repairs such as: seepage into basements, inadequate flashing between deck and siding, missing shingles or poorly flashed areas of the roof, plus other exterior repairs like damaged siding, unstable decks, severely heaved concrete and cracked windows

I often describe it for my clients like this, “a purchase agreement with an inspection contingency is still an open negotiation”.  Buyers may ask for anything from repairs to a monetary allowance and Sellers may say yes or no to the request.  Buyers can walk away from the entire agreement and retain their Earnest Money if they are not satisfied.

For further details, you can Ask me a Question!

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The post 4 Repairs Buyers Commonly request after Inspection… appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.

It’s amazing how quickly the New Construction neighborhoods have sprung to life in the past 6-9 months!  There are neighborhoods which seemed to have gone from empty lots, to bustling homesites overnight.  I wanted to bring you some specific information about New Construction in our South of the River Suburbs, so today we’ll start with Lakeville.

New Construction Home in Spyglass Neighborhood in Lakeville

Some of the Neighborhoods to check out include Spyglass, right off Cedar Avenue, just South of Apple Valley. This Neighborhood only has 2 Lots Left, both owned by Hebert Homes, a 25 year veteran builder of Eagan and Lakeville with a stellar reputation for quality and value.  The Price Range for a wonderful Two Story is about $319,000 -329,000 including 2300+sqft, 3 car garage, Concrete Porch, Granite Countertops, Stainless Steel Appl., Fireplace, Luxury Owner’s Suite. Walkout Lower Level, and lots more bells and whistles.

Donnelly Farms is another Neighborhood to check out, homes in this area ranges from $300,000 to $349,000 and are mostly Two Story Style.  Located directly across Ipava from the Lakeville North High School, this area was started just before the crash and the lots sat mostly empty for several years.  Spring of 2012 they started to sell, I believe there were 38 lots left and by the end of the year there were only 8 left. Lot prices have climbed from $55,000-$65,000 in the early Spring to $75,000-$89,000 now.

Exciting New Construction Homes are a Welcome Sight

Crescent Ridge opened up this summer on the East side of Holyoke, developed by Shamrock. The first phase had 32 Lots and when I checked back with the development company about 2 weeks later, I was told that 27 out of the 32 Lots were Sold.  They were scooped up by confident builders including Country Joe, Brandle Anderson, Keyland, GBI, Stone Cottage and a few others. Country Joe is also building off Highview between 175th and 165th.

There are also some lots left in Lakeville in the DR Horton Neighborhood just across from Lakeville South High School.  Prices in there are about $350,000-$400,000.

Some questions which come up when considering Buying a New Construction Home are: How do I sell my current Lakeville Home? Will a Builder accept a Contingent Offer? Should I list my current Lakeville Home first and then select a Builder? How to get my Lakeville Home Sold, so I can Build a New Home?

Luckily, we have the answers to your Questions! Just give me a shout at 612-889-6496 or Fill in our On-site Evaluation Form to request an appointment and we can discuss your Real Estate Goals and Dream Home in person.

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Invite Me Over!

The post Building a New Home in Lakeville, What you Need to Know… appeared first on Selling South of the River | Real Estate Blog Featuring Homes in the Southern Twin Cities Metro Area of MN.