AFFORDABLE Homes on Minnesota Lakeshore! (Under $400K...some way under too!)

Are there affordable lakeshore homes in Anoka County? You betcha!

I checked the multiple listing service (MLS) in the Minneapolis/St Paul area today (July 17, 2014) and found a baker's dozen lakeshore homes priced at less than $400K. This doesn't see like a lot but we are talking affordable lakeshore here. Some are as close as Coon Rapids and a few are further out in Ramsey and Nowthen but all are homes have shoreline on one of Minnesota's 10,000 Lakes.

And you don't have to break the bank either. There is a cute one bedroom cabin on Martin Lake with 50 feet of shoreline for under $90,000. Need a bigger home? There's a spacious two story on Ham Lake with a 100 foot shore for $350K. Looking for a one level home? There is one on Coon Lake with 2BR/2BA with 100 ft shore for just under $275K. And there is even one just minutes from Minneapolis on Crooked Lake in Coon Rapids for $210,000. 

If you are interested in Minnesota lakeshore, there are properties in every price range. There are hundreds of options more over $400K throughout the state but that is not affordable to most. These lower priced options often are on full rec lakes where you can boat, fish, jet ski, but they might not have the perfect sandy beach or executive style home. Sometimes they are perfect inside but have a channel shore line while others might be in need of updates. But they are an affordable way of getting a home on the lake.

If you would like a link to lakeshore homes currently available in Anoka County (or any other Minnesota county), send me an email with your price range and I will check them for you. I also have lakeshore search links set up for counties in the north metro in the POPULAR SEARCHES section of the "Buying A Home" page on my website, terieckholm.com.




Need Help Buying or Selling a Minnesota Lake Home?If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of Boardman Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. 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 2014 www.terieckholm.com

Extremely Affordable Minnesota Lakeshore!

Last week I wrote about the deals that can be found on Minnesota Lakeshore in the north and east metro Counties of Anoka, Washington, Ramsey and Chisago. Lakehomes are selling for tens of thousands less than just a few years ago. Click Here to read Think Now is a GREAT Time to Make a DEAL on a MN Lakeshore Home? I Do!

A few years back, when prices were seemingly out of reach, I wrote another article, Affordable Minnesota Lakeshore, that remains to this day one of the most popular pages on my website. It was written for those dreaming of a lake home but unable to afford the rising costs MN shoreline. Now with real estate values correcting from the inflated pricing of the past few years, these variations on traditional lakeshore are now extremely affordable—usually not much higher than a home without water’s edge. With this in mind, it is once again time to review some of the lakeshore options in the Land of 10,000 Lakes to get the average Joe (or Josephine) into an extremely affordable lakehome!

• Channel Shore Shoreline along a channel is a great option for a full recreational lake. Many large lakes will have channels or narrow extensions that lead to other lakes or ponds. Usually there is not a place for a beach but you can have a slip or short dock for your boat. The channel will provide access to the main lake. The view will probably include homes on the opposite shore of the channel but if your goal is affordable use of a full recreational lake, this is a great alternative.


• Smaller Lake with Channel to Full Recreational Lake Often the lakes in Minnesota are connected to one or several smaller lakes. This can be a great opportunity. Shoreline that is shallow or weedy is not considered prime but if it has access to a larger lake, it could provide the same enjoyment at a much lower price.


• Small Acreage Lake Smaller lakes can be of interest to the more laidback water lover. Often there will be restrictions disallowing motors or only small motors. These smaller lakes can still be great for fishing, canoeing, kayaking and swimming. Some will allow docks and beaches but check with the DNR for specific restrictions. A small lake will still offer wonderful natural views at a significantly lower price than a full recreational lake.


• Environmental Lakes and Wetlands (Sometimes referred to as a NEDS Lake) These are very shallow lakes that are wonderful for privacy but not great for recreation. If you are looking for a home with awesome views of wildlife, this may be something to consider.


• Deeded Access Many homes and associations near a full recreational lake have been developed with deeded access providing use of the lake. The ability to have a dock, use the beach, or moor a boat, will be outlined in a legal agreement specifying what uses are allowed. Not all deeded access is created equal! Request a copy of all of the specific uses and rules before writing an offer so you can fully understand the access available as a home owner.


• Lake View A home with a beautiful lake view but no shoreline or lake access, can provide the wonderful picturesque views everyone dreams of without the high lakeshore taxes.


• Location with Public Access Nearby A final option is to look for a home that is near a park with public lake access. I sold one such home where the public access to a good-sized full recreational lake was about a quarter mile down the street. This family uses the lake to canoe, cross country ski and fish without driving or trailers. There was none of the additional cost or taxes associated with lakeshore property but all of the benefits!

LAKE RESOURCES
Department of Natural Resources Lake Finder Comprehensive search engine to find information regarding the size, depth and condition of Minnesota lakes by county and lake name. There is even information on approximate numbers and types of fish found in the listed lakes.
Need to know if you can have a dock? Put in a beach? If the water is safe? This site offers a directory of who to call for the most often asked water, lake and shoreline questions.
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. 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 2008 terieckholm.com

Minnesota Lakeshore Is Affordable Again!

In the past decade the prices on Minnesota lakeshore had become out of reach for many buyers. Prices shot up in the late 1990’s. Lake lots on Coon Lake in Anoka County went on the market in 1998 for $60,000 and were re-sold three years later for over three times that at $200,000. Homes on lakeshore saw similar increases. There didn’t seem to be an end in sight to what someone would pay for lakeshore in the Twin Cities.

Then “The Buyer’s Market of 2006” hit the Twin Cities and north metro. What a welcome relief to would-be lake home owners. The chance to own Minnesota shoreline is once again within reach.

The recent buyers market has affected the prices of lakeshore in Minnesota. With there being so many homes available, buyers have a selection that hasn’t been seen in the past decade. That abundance of homes is in all categories, including the wonderful lakeshore homes coveted by Minnesota sportsmen and nature lovers. To see what kind of an impact the buyer’s market has had Minnesota lakes, I did some research on lake homes sold in the past six months (August 2006 to February 2007). As a Realtor working in the north east metro for several years, I knew it was difficult to find reasonably priced Minnesota lakeshore in for the past few years…especially with a quick commute to the city. I wanted to see if the change in the market had made lakeshore more affordable. What I found is that an in-town lake home is not only affordable, they are available.

Focusing on the north east metro counties of Anoka, Chisago, Ramsey and Washington, I discovered some interesting facts. I set up a search for lakeshore homes sold that had at least 3BR/2BA and a garage and listed after August 1, 2007. The homes had to be a single family dwelling, not a town home or condo. There were 24 homes that met these criteria. I then took a closer look homes that sold for the lowest and highest price in each county. Since most homes sat on the market for several months, there were some amazing price concessions by sellers. The 24 listings were on the market an average of 178 days. But when I looked closer at the homes, I realized that this was not accurate. Many of the homes were cancelled and re-listed so the DOM would start again at zero. (In my estimation, the average time on the market for north metro lakeshore is 9 months to a year.)

So where are the deals on Minnesota Lakeshore? All over! Here are some of the highlights:




Sale Price of Lakeshore Homes in Anoka, Chisago, Ramsey and Washington County Fall06/Winter07

Anoka County
Lowest Sold Price $225,000
Highest Sold Price $507,750
Average $389,550
Total Homes Sold: 5

The lowest priced lakeshore home sold during the past 6 months was in northwest Anoka County in the little community of Burns Township. It was Twin Lakes rambler on 400 ft. of shore with 3BR/2BA and a 2 car garage. It sold for $225,000.

On the other end of the spectrum, in southern Anoka County, a Lino Lakes home with 100 feet of shore on Reshanan Lake. It originally listed for almost 2 years ago for $585,000 but sold for just $507,750. This home is located with a quick commute to either downtown is a multi-level home with 4BR/3BA and a 3 car garage.

Chisago CountyLowest Sold Price $292,500
Highest Sold Price $486,000
Average $382,125
Total Homes Sold: 5

Both the lowest and highest priced sold homes were located in Chisago Township about 45 minutes northeast of downtown St. Paul. The lower priced home boasted 150 ft of shoreline on Chisago Lake. It was a 3BR/2BA/2Car home built in 1956 and sold for just $292,500. On the high end, was a 2002 built lake home on Green Lake with 85 ft. of shore. It was listed at $534,900 but sold for $50,000 less after 6 months on the market.

Ramsey CountyLowest Sold Price $293,550
Highest Sold Price $673,000
Average $423,890
Total Homes Sold: 8

Ramsey County is the heart of the east metro and is home to the capital city, St. Paul. Surprisingly, there were some lakeshore bargains here as well. On the low end of the spectrum, there was a home with 100ft of shore on Goose Lake. The home located in White Bear Lake originally listed for $389,000 but after six months on the market sold for $295,550, nearly $100K less!

On the more expensive side was a North Oaks home with 150 ft of shore on Charley Lake. The home is on a 1.3 acre parcel in a private community. The 2 story was built in 1980 with 5BR/6BA/3Car. After being on the market for just over a year, it sold for $673,000.

Washington County
Lowest Sold Price $399,000
Highest Sold Price $1,599,000
Average $822,483
Total Homes Sold: 6

Washington County was home to the most expensive and fastest lakeshore sales in the north and east metro during the past six months. But there were bargains here as well. At the low end a lakeshore home in Oakdale, on Park Lake sold for at the listed $399,000 in just 45 days. At the other end of the spectrum a Mahtomedi 1930’s charmer on White Bear Lake sold in just 15 days for $1.6 million.

Are you interested in buying Minnesota Lakeshore? Now is the time. There are still hundreds of homes on lakeshore listed on the Twin Cities MLS. Many of these beautiful homes have been on the market for several months. Most of my clients are asking to be emailed with immediate listings of "just listed" and "just reduced in price homes". With the right offer and Realtor who understands the lakeshore market, you could be spending this summer on a Minnesota lake!


Contact me today to be set up for automatic lakeshore listings. Emails will be sent immediately when a price drops on a lakeshore home or a new listing hits the market.

Affordable Minnesota Lakeshore

So you are once again dreaming of a lake home? The Land of 10,000 Lakes translates into millions of feet of shoreline in the state of Minnesota. But often it seems as only the very wealthy can live on the water’s edge. Is that an accurate perception? Stop dreaming and consider a few options that will make paradise more affordable.

Channel Shore
Shoreline along a channel is a great option for a full recreational lake. Many large lakes will have channels or narrow extensions that lead to other lakes or ponds. Usually there is not a place for a beach but you can have a slip or short dock for your boat. The channel will provide access to the main lake. The view will probably include homes on the opposite shore of the channel but if your goal is affordable use of a full recreational lake, this is a great alternative.

Smaller Lake with Channel to Full Recreational Lake
Often the lakes in Minnesota are connected to one or several smaller lakes. This can be a great opportunity. Shoreline that is shallow or weedy is not considered prime but if it has access to a larger lake, it could provide the same enjoyment at a much lower price.

Small Acreage Lake
Smaller lakes can be of interest to the more laidback water lover. Often there will be restrictions disallowing motors or only small motors. These smaller lakes can still be great for fishing, canoeing, kayaking and swimming. Some will allow docks and beaches but check with the DNR for specific restrictions. A small lake will still offer wonderful natural views at a significantly lower price than a full recreational lake.

Environmental Lakes and Wetlands
Very shallow lakes wonderful for privacy but not great for recreation. If you are looking for a home with awesome views of wildlife, this may be something to consider.

Deeded Access
Many homes and associations near a full recreational lake have been developed with deeded access providing use of the lake. The ability to have a dock, use the beach, or moor a boat, will be outlined in a legal agreement specifying what uses are allowed. Not all deeded access is created equal! Request a copy of all of the specific uses and rules before writing an offer so you can fully understand the access available as a home owner.

Lake View
A home with a beautiful lake view but no shoreline or lake access, can provide the wonderful picturesque views everyone dreams of without the high lakeshore taxes.Location with Public Access NearbyA final option is to look for a home that is near park with public lake access. I sold one such home where the public access to a good-sized full recreational lake was about a quarter mile down the street. This family uses the lake to canoe, cross country ski and fish without driving or trailers. There was none of the additional cost or taxes associated with lakeshore property but all of the benefits!

Lakes and Shoreline Link
Department of Natural Resources Lake Finder Comprehensive search engine to find information regarding the size, depth and condition of Minnesota lakes by county and lake name. There is even information on approximate numbers and types of fish found in the listed lakes.