Dreaming of Life on a Minnesota Lake? This Could be the Year to Make YOUR Move!

 
Is spending the summer on a Minnesota lakeshore your dream? What if you could walk out your backdoor and in a few steps be in at the lake? With well over 10,000 lakes in Minnesota, it is not just a dream but reality for many homeowners. Living in a lakehome.  Whether you are in Anoka, Ramsey, Chisago, Washington, Hennepin or any other county in our great state lakeshore is a plentiful and beautiful but sadly it is not always affordable. 

How do you find affordable lakeshore in Minnesota and which lake is best for you? That really depends on your needs and how your family will make use of the water. If you want to dock a speedboat or need room to set sail in a larger sailboat, your dream might be to live on a large acreage full recreational lake. But many love the idea of waking in the morning to the calls of nesting loons and or sitting on the deck in the evening to view a brilliant rosy sunset. This buyer might prefer an affordable natural wetland shore. A home with this type of shoreline is can be much less expensive than a home on lakeshore with a sandy beach to swim in and dock for a boat.

 A few years back, when lakeshore 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 on shoreline property in Minnesota. (A full recreational lake will have few, if any, restrictions by the Minnesota DNR for usage of the lake…meaning you can have a speed boat, jet ski, etc.) Because not everyone needs, wants or can afford a home on a full recreational lake, I outlined the best affordable options and alternatives to a full recreational lakehome with shoreline. But with the changed real estate market, these variations on traditional lakeshore are now extremely affordable—usually not much higher than a home without water’s edge. And when you combine these affordable options with frigid temps, a home buyer with lakeshore dreams can find they can afford to live on Minnesota lakeshore!

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 AccessMany 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!

LINKS 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. 
• Shoreland Education   Need to know if you can have a dock? Put in a beach? If the water is safe? This site provides videos and resources to help answer for the most often asked water, lake and shoreline questions
  

Ready to buy a Minnesota Lakehome and need help from a professional REALTOR®? Let me be your professional guide. 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 2015 www.terieckholm.com

There's Good, Bad & Ugly When Buying Minnesota Lakeshore in the Winter

Spring is just around the corner but the recent weather reports and our aching, shoveling-afflicted backs continue to let us know that our Minnesota’s winter weather will continue to be here for awhile. Unfortunately all that picturesque lake shore that defines our beautiful state and the Land of 10,000 Lakes is going to stay frozen and covered with a thick white blanket of snow....This is not a great scenario as the real estate market has started to heat up early. 

Most people considering buying a lake shore home in 2013, think they have to wait until ice-out in the spring to make a move on a piece of shoreline. But, not so fast. Buying a lakeshore home in the winter can make sense…And save money too. If you know the specific lake well or are not concerned about the quality of shoreline, winter can be a great time to write up an offer.

GOOD reasons buy NOW:

1. Motivated Sellers—Any seller has their Minnesota lakeshore home on the market in February/March most probably needs to sell.
2. Less Competition—With few buyers on the market there is less change of multiple offers on a lakeshore property which make for easier negotiations with the sellers. This might not be the case come spring.
3. Low Interest Rates—They keep telling us that these rates won’t stay around forever and they are starting to inch up again. A lower interest rate means more buying power.

BAD  and UGLY situations that could arise:

1. Shoreline Problems—That picturesque beauty that was covered with snow could reveal low lake levels or weedy shoreline problems rather than the sandy beachfront you imagined.
2. Septic issues—If the home is on a lake with a private sewage system, it might not be able to be fully assessed for compliance issues which could be costly if a new system is required.

Bottom line, winter can be an tremendous opportunity to get a deal on a Minnesota lake home but be advised if you don’t know the lake well; there are some risks when putting in an offer if the lake is covered with a thick slab of ice. Weigh your options carefully before deciding whether you should put in an offer on that seemingly perfect snow covered home on the lake or wait until May when the waves are once again lapping on the shore.

Copyright 2013 www.terieckholm.com

Forest Lake, MN Year End Real Estate Market Statistics for 2009

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb. The northern Washington County and east Anoka County community of Forest Lake is now considered an integral part of the Twin Cities.
Real estate in Forest Lake, MN did sell well in 2009 especially in the lower price points. A total of 309 properties sold in the Forest Lake Area during 2009. Roughly two thirds of these sales, 201 properties, were single family homes while the other 108 were townhomes, condos or twin homes. This number is up from the 259 homes sold in the Forest Lake area in 2008.
The Cumulative Days on Market (CDOM) Statistic ran at 160 days for all homes sold during the year. This is a 12 % decline in market time from last year’s CDOM stat of 181 for all properties sold in the Forest Lake area in 2008. Not as positive of news is that the average price of homes did see a significant drop from 2008 to 2009. The average price of a home sold in Forest Lake was $239,819 in 2008 but in 2009, that average was 26% lower with an average home price of $176,776.
Not surprisingly, the price category of under $200,000 is the high point with 210 properties sold during 2009 (107 Single family homes and 103 townhomes/condos). The $8000 tax credit really made an impact in the Forest Lake market as the first time buyer homes under $200,000 really moved quickly in 2009. Inventory is very manageable under $200,000 with just 3 months of currently listed homes available for sale. Though homes in the $200,000-300,000 category in are selling a bit slower, 8 months worth of inventory is very manageable. As is the 10 months of inventory in the $300,000-400,000 price range of homes. Even in the $400,000-500,000 priced homes have seen drop in inventory levels to where there is just over a year’s worth of inventory.

However, as in 2008, the high end homes struggled for sales throughout 2009. Homes over $500,000 remain at a near standstill with only ONE home over half a million SOLD in the Forest Lake area in all of 2009. As most lakeshore homes fall into this category, there is an abundance of high valued lakeshore homes to select from in the Forest Lake area. With one sold in the past 12 months and 23 active listings over $500,000, it will two DECADES for all the homes to sell at this pace.
What does this mean for the home buyer? Homes were well priced in Forest Lake during 2009 so there was a dramatic reduction in the number of listings to choose from. Homebuyers in 2010 will have to make quick decisions on homes in Forest Lake that appear to be good values. Lakeshore and acreage properties priced under $500,000 are selling again, with an average market time of 5-6 months so it is important to be prepared to buy when the right property comes onto the market.

A buyer looking to purchase high-end lakeshore in the Forest Lake area, is in the driver’s seat in 2010! With so much inventory, high-end lakeshore sellers will need to be flexible on pricing if they want a SOLD sign on their home any time soon. NOW might be the perfect time to negotiate a GREAT deal on a lakeshore home! The inventory is awesome…35 lakeshore homes are currently active; some are at attractive and affordable price points. Many have been on the market for several months. With the continued amazing low interest rates, the extended and expanded homebuyer’s tax credit and few buyers willing to consider buying frozen lakeshore, it could be a great time to negotiate a deal on your piece of Minnesota shoreline!

2009 Average Sales Price of all homes sold in Forest Lake:

• All Homes $176,776
• Single Family Homes $209,778
• Townhomes/Condos $122,799

2009 Average Cumulative Days on Market in Forest Lake:

• All Homes 160
• Single Family Homes 157
• Townhomes/Condos 164

Year End 2009 Forest Lake real estate statistics for single family homes:
Under $200,000~ 27 Active Listings, 12 Pending Listings, 107 Sold Listings, 136 CDOM (Lakeshore Subgroup ~ 0 Active, 0 Pending, 6 Sold)
$200,000-$300,000 ~ 33 Active Listings, 1 Pending Listings, 60 Sold Listings, 169 CDOM (Lakeshore Subgroup ~ 4 Active, 1 Pending, 5 Sold)
$300,000-$400,000 ~ 17 Active Listings, 2 Pending Listings, 25 Sold Listings, 209 CDOM (Lakeshore Subgroup ~ 3 Active, 0 Pending, 8 Sold)
$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 8 Sold Listing, 188 CDOM (Lakeshore Subgroup ~ 7 Active, 0 Pending, 3 Sold)
$500,000 and Up~ 23 Active Listings, 0 Pending Listings, 1 Sold Listings 306 CDOM (Lakeshore Subgroup ~ 18 Active, 0 Pending, 1 Sold)

Year End 2009 Forest Lake residential real estate statistics for townhomes and condos:
Under $200,000~ 30 Active Listings, 11 Pending Listings, 103 Sold Listings, 163 CDOM
$200,000-300,000~8 Active Listings, 0 Pending Listings, 4 Sold Listings, 78 CDOM

$300,000-$400,000 ~ 4 Active Listings, 0 Pending Listings, 1 Sold Listings, 79 CDOMFor additional information on any current Forest Lake real estate listing or for additional information on buying a home in Forest Lake contact Teri Eckholm directly at 651-336-7073.
35 Active Lakeshore available in the Forest Lake area:

Price range: $189,900-$2,600,000

• 32 Homes on Forest Lake
• 1 Homes on Clear Lake
• 2 Home on Comfort Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/09 through 12/31/09.

Copyright 2010 Teri Eckholm http://www.terieckholm.com/

Ham Lake, MN Year End Real Estate Market Statistics for 2009

The City of Ham Lake has a rich history. Incorporated in 1974, Ham Lake became a city after over a hundred years of humble but steady growth. The area was first settled in 1855 by a group of Scottish men on the southwest side of Ham Lake. Though, I can only assume that the lake itself got its name due to its unusual “ham hock” shape, the community started out with a different name. The original name of the community was Glen Carey, which is the Scottish translation of “beautiful valley”. Following a prairie fire in 1857, the first settlers moved but the community was resettled again. The new Scandinavian settlers had a hard time with the pronunciation of Glen Carey and soon the fledging community was known as Ham Lake. Anoka County officially was recognized it as a township in 1871. In the early 1900’s Central Avenue (Highway 65) was a slow commute as it was a wagon trail through the sand and swampland. And we think going through stop light after stop light slows traffic. Though it was graveled and paved at some point, it 1954 before was expanded to four lanes.
Those four lanes are in full use now as more and more people look to buying home on acreage in the Ham Lake area. Though the sluggish real estate market has affected Ham Lake, MN and Anoka County in 2008, homes did sell. Homes are stayed on the market longer with an average Cumulative Days-on-Market (CDOM) of 180 days for homes during 2009 versus 158 CDOM in 2008. Note that CDOM for homes over $500,000 are the only homes with extremely long market times, selling with an average CDOM of 261. The average price of a home sold in Ham Lake in 2009 was $248,424.
While there are 20% fewer homes on the market in Ham Lake now compared to January 2008 (88 versus 110 active listings), homes are continuing to taking a bit longer to sell and even with the $8000 tax incentive for first time home buyers that boosted last year’s market, there continues to be more homes on the market than buyers. But we are making progress. Homeowners considering selling a home in the Ham Lake area must consider the average time to sell a home in the area is approximately 6 months but inventory levels indicate a more complex story depending on the home’s list price.
Inventory levels are manageable for homes under $300,000 with about 6 months of inventory. But inventory levels rise to approximately 12 months in prices between $300,000 and $500,000. While over $500,000 there is about 18 months of inventory in the Ham Lake area. This is much better than how Ham Lake real estate started 2009 where there was upwards of 5 YEARS of inventory in the half million plus properties. Seller have seem to have gotten the message that having a home properly priced and prepared for showings was essential to sell a home in this Anoka County community in 2009.
Year End 2009 Ham Lake residential real estate statistics for single family homes:
Under $200,000~ 26 Active Listings, 7 Pending Listings, 59 Sold Listings, CDOM 175 (New Construction Subgroup ~ 0 Active, 0 Pending, 1 Sold)
$200,000-300,000 ~ 20 Active Listings, 6 Pending Listings, 45 Sold Listings, CDOM 173 (New Construction Subgroup ~ 1 Active, 0 Pending, 3 Sold)
$300,000-400,000 ~ 24 Active Listings, 1 Pending Listings, 31 Sold Listings, CDOM 186 (New Construction Subgroup ~ 5 Active, 1 Pending, 2 Sold)
$400,000-$500,000 ~ 6 Active Listings, 1 Pending Listings, 9 Sold Listings, CDOM 209 (New Construction Subgroup ~ 1 Active, 0 Pending, 0 Sold)
$500,000 and Up~ 11 Active Listings, 1 Pending Listings, 8 Sold Listings, CDOM 261 (New Construction Subgroup ~ 2 Active, 0 Pending, 4 Sold)
Lakeshore available in the City of Ham Lake 7 Active Listings

Ham Lake lakeshore price range: $135,000-$804,000

4 Homes on Coon Lake
1 Home on Lake Netta
2 Home on Little Coon Lake

Acreage Listings in the City of Ham Lake

• 38 Properties listed on 1-2 Acres Priced from $67,900-$599,800
• 16 Properties listed on 2-3 Acres Priced from $113,000-$980,000
• 7 Properties listed on 3-5 Acres Priced from $145,000-$778,000
• 3 Properties listed on 5-10 Acres Priced from $249,900-$805,000
• 2 Properties listed on 1-2 Acres Priced from $241,000-$499,900

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 12/31/09.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

New Summer Listings on AFFORDABLE Minnesota Lakeshore! GREAT PRICES throughout Anoka County

Are Minnesota lakeshore owners hoping the real estate market has turned a corner? Maybe.

I spotted an unusual trend this past July. Lakeshore homes, that traditionally list as soon as the the frozen lakeshore shows signs of spring, were being listed mid-summer and now into August. And they are not just the usual handful of sellers that just couldn't get ready in time for the spring market. There were several lake properties listed in Anoka County after July 1st this year. These are not "cancel and relist as new" homes…You know the ones that just give you the feeling of deja'vu because they get a new MLS number every 6-8 months. Over a dozen new lakeshore listings hit the market as bona fide new listings in the past six weeks.

Here are a few of Anoka County “priced-to-sell” Lakeshore Listings that just hit the market:

• Otter Lake 4BR/3BA/2car split on ¾+ acre under $350K


• 1998 built 2-Story 4BR/4BA/5Car on Coon Lake. Additional garage with studio/office above on paved road priced under $660K (Almost $70K below tax value!)


• 2BR/3BA/2car 2000 blt townhome in the Lakes of Raddison. Pd $230K in 2005, asking $189,900


• 5BR 2-story on Linwood Lake with pole barn! Updated Gourmet Ktn and awesome lakeviews! Listed at $435K

Need to learn more about the size, depth and water quality of Anoka County lakes? Check out these links to a few popular lakes in Anoka County. For other lakes in the Twin Cities, check the Minnesota DNR Lake Finder.

• Coon


• Ham


• Linwood


• Otter


• Round

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Dreaming of life on AFFORDABLE Minnesota Lakeshore? New Listings at GREAT PRICES throughout Washington County

Are Minnesota lakeshore owners hoping the real estate market has turned a corner? Maybe. Or is it just a mid-summer night's dream for lakeshore owners?

I noticed an interesting phenomenon in early July that is continuing into August. Lakeshore homes that traditionally list as soon as the ice drops in April were being listed after Independence Day in July. And it was not just the usual handful of slowpokes that added a late summer listing…several lake properties listed in Washington County after July 1st. These are not relisted homes either…You know the ones that are cancelled so they "look new on the market" with a different MLS number every 3-6 months. About a dozen new lakeshore listings hit the market as bona fide new listings in the past six weeks.

Now there are a few newly listed homes where are still dreaming of yesteryear's pricing. But a good number of the new listings were priced competitively...And these are not foreclosures either.

Here are some Washington County "priced-to-sell" Lakeshore Listings that just hit the market:

• Lake Sylvan 1BR/2BA/2car rambler under $155K


• 70’s built Split-level 4BR/3BA/2Car on Forest Lake for $199,900 ($50K below tax value!)


• 2 Heated Cottages on huge lot on Forest Lake’s 3rd Lake. Adorable and priced at $320K.


• Stunning executive home on 100 ft of Forest Lake’s 2nd Lake shoreline. 3400 sq ft 2 story priced in the $770’s


• Affordable 3BR rambler with 132 ft of lakeshore on Lily Lake in Stillwater listed for under $225K.

So those who have lakeshore dreams, this may be the year to take a look at what has listed at the end of the season. There is still time to enjoy a fall campfire on your own piece of shoreline. And, that ice fishing excursion could be much closer to home this winter...right out your own backdoor!

Need to learn more about the size, depth and water quality of Washington County lakes? Check out these links to a few of the most popular lakes in Washington County. For other lakes in the Twin Cities, check the Minnesota DNR Lake Finder.

· Big Carnelian
· Big Marine
· Bone
· Forest
· Jane
· Lily
· White Bear Lake

More Articles on Buying a Minnesota Lakeshore property that might be of interest:

• Buying a Minnesota Lake Home? MN Lakeshore is Affordable; But is the Water Safe?
• Extremely Affordable Minnesota Lakeshore!

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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 Teri Eckholm http://www.terieckholm.com/