Friday, August 13, 2010

Drought Over! Will MN Lakeshore Prices Rise with Lake Levels?

As we prepare for another round of potential thunderstorms this morning, I began to wonder how this summer’s rainstorm after rainstorm has affected the drought conditions that have been plaguing Minnesota for several years. It is no secret to anyone living in the area that the 10,000+ Minnesota lake levels have been low over the past few years as we watched docks get longer to reach the water at lakes throughout the state. There was more than one local news report over the past few years warning boaters to be cautious when touring local lakes for underwater hazards due to low water levels. But this summer we have been blessed (or cursed to those affected by the flash flooding) with abundant rainfall! Last night alone, rain gauges across the Twin Cites with outstate areas boasting several inches. Eagan, Minnesota located just south east of the Minneapolis/St Paul airport had a whopping 3.97 inches of rain last night!

So how have the summer storms of 2010 affected the Minnesota drought? In a word, significantly!

According to this cool tool,
the drought impact reporter, Minnesota has gone from being categorized as100% abnormally dry or worse last year to no drought reports anywhere in the state! As early as 6 months ago, several counties across the arrowhead region of Minnesota were reported as extremely dry. Hopefully this is a step toward our lake levels coming back.

The good news is prices on lakeshore have been as low as the lake levels this year! Though few lake shore homes are in foreclosure, the down market has caused many sellers that need to sell their prized lakeshore for rock bottom prices. In many cases, list prices are down tens of thousands lower than in previous years.

Here are just a few DEALS on lakeshore homes that I have noted across the north and east Twin Cities metro this past week:

  • 4BR/2BA 50’ Shore on Coon Lake in Ham Lake listed at $235K
  • 2BR Forest Lake home with 75’ lake shore on Clear Lake Listed under $230K
  • 2BR/2BA home with 55’ Shoreline on Forest Lake listed for $250K
  • 3BR/2BA on Bald Eagle Lake, acre lot and 175’ shore listed for $500K
278 Janice Ave, Shoreview MN 3BR/2BA on private lot, update with view and access to full recreational Lake Wabasso $329,900
CLICK HERE to Take Virtual Tour
For additional information on these or any other lakeshore home in the Minneapolis/St Paul area, call or text Teri Eckholm, REALTOR® with RE/MAX Specialists at 651-336-7073.
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.

Copyright 2010 Teri Eckholm