Tear-Downs Spread to Less Expensive Neighborhoods, Busier Streets Literally one day after the Golden Valley home pictured above sold for $77,000 last month ($2k over ask), the new owner listed the to-be-built new construction on MLS (photo, below). Asking price: $449,900 for 5 BR/4 Baths and almost 2,900 finished square feet. Not a bad bump,...Read More
Test your knowledge of the Twin Cities housing market, and guess the list price of this 3 BR/2 Bath 1955 rambler with 1,830 finished square feet (it debuted on the market this afternoon): A. $119,900 B. $179,900 C. $249,900 D. $699,900 Before I provide the answer, here’s a helpful clue: the home sits high above...Read More
New Home Premium vs. Busy Street Discount Take a rejuvenated Twin Cities housing market and a dearth of buildable lots in desirable, close-in locations, and what do you get? New construction on busier streets like Xerxes (South Minneapolis/Edina), France Ave. (ditto), and Minnetonka Boulevard (St. Louis Park). New Construction Boom Are such homes a good deal? It...Read More
“Full Plate” Syndrome (Unrelated to Thanksgiving) When a old, undersized house in a hot neighborhood for tear-downs and new construction fails to sell right away, what might be the explanation? In fact, just such a home debuted on the market near Minneapolis’ Cedar Lake this week. One possibility is that the home is overpriced. Theory...Read More
In a post last Fall titled, “2nd Story Coming Soon?“, I speculated that this Dean Parkway rambler (above) just north of the Midtown Greenway would be super-sized. It turns out my timetable was premature, and that the existing home was destined to be scraped, not expanded. But my instincts were right. Here’s what the site...Read More
Back in (snowy) March, I noted the sign (above) heralding a “new construction opportunity” in my post, “Real Estate Euphemisms — New & Improved.” Sure enough, four-plus months later, a new home is going up on the site, just south of Minneapolis’ Lake Calhoun. Or at least the beginnings of one — for now, the builder...Read More