Lakeshore Dreaming? Ice Out is Here—Time to Start Shopping

With today’s April shower, there is no doubt that the ice on lakes throughout the north and east Twin Cities metro will drop. Ice out is when the ice finally drops to the bottom of the lake and in Minnesota that also means, the for sale signs start going up.

If you have been dreaming of living on one of Minnesota’s 10,000 lakes, consider the north metro. There are options that will fit almost any budget from fixer-upper cabins to high end executive homes.  I took a quick look at the MLS today and there are nearly a hundred options for the would-be lakehome owner.  Most are on full recreational, multi-use lakes like Coon Lake in Anoka County or Forest Lake in Washington County. Surprisingly these properties are often available at prices comparable to homes without a shoreline. 

How can Minnesota lakeshore be so affordable? It appears that prices are not rising on lake properties as quickly as in other categories. From what I have seen, prices are stagnant or in some cases lower than last year.  While on the whole the housing inventory is down, this is not the case for lakehomes. There has been an abundance of these shoreline beauties every spring and summer which has been keep prices affordable.

 
Copyright 2014 www.terieckholm.com

First Time Homebuyer’s Real Estate Word for Today is Deeded Access

The average home buyer only buys a home once every eight years. That said, even a repeat home buyer can forget some of the simple terms used in real estate on a daily basis. It can be hard to remember whether the earnest money or the money escrowed is a down payment and (if it is, on what?) Often buyers are easily confused by similar sounding terms like easement and encroachment as they both deal with property lines and usage but what do they really mean?

Whether you are a novice, first time buyer or someone who hasn’t purchased a home for several years, sometimes a refresher on real estate terms can be very helpful. I often notice buyers (and sellers) with a glazed look on their face when certain terms come up so I thought an online real estate glossary would be helpful. The real estate term for today is:

Deeded Access Deeded access is access to the lakeshore as outlined in the deed for the property. As a Minnesota REALTOR® I deal with lots of lakeshore properties. Heck, it is the “Land of 10,000 Lakes” after all. Some properties are right on the shoreline and the riparian rights (right to use the lakeshore) is obviously the property owners. But sometimes a property within close proximity to a lake will allow homeowners to use the lake as well. These rights can include the ability to use a private beach, put in a dock, dock a boat or other various rights. Not all deeded access is created equal. To understand the riparian rights associated with the property, a buyer must inquire and read the specifics outlined in the deed.

Copyright 2011 terieckholm.com

The Good, the Bad & the Ugly of Buying a Minnesota Lakehome in the Winter

According to the calendar, winter just started but we all know from the chiropractic visits to tend to our aching, shoveling-afflicted spines that Minnesota’s winter weather blew into town several weeks ago. Unfortunately this means all that picturesque lakeshore that defines our beautiful state is frozen and covered with a thick white blanket of snow.

If you’re considering buying a lakeshore home, that just about cuts off any opportunity of buying for the year; that is unless you assess the quality of the lake using an ice auger and depth finder when freezing your backside off fishing on the ice. Right?

Well, not so fast. Buying a lakeshore home in the winter can make sense…And save lots of 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 not to wait:

1. Motivated Sellers—Any seller that keeps Minnesota lakeshore on the market during the winter most probably needs to sell.
2. Less Competition—With few buyers on the market there is less change of multiple offers on properties which make for easier negotiations with the sellers.
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 significant risks to making a purchase when 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 April when the waves are once again lapping on the shore to put in your offer.

Copyright 2010 terieckholm.com

Ready to Buy a Minnesota Lakeshore HOME? But How Safe is the Water?

A lakeshore home is the ideal of many a Minnesotan! And why not? When you live in the Land of 10,000 Lakes, one would be hard pressed not to drive by a lake, pond or river on a daily basis. Whether you are in Anoka, Ramsey, Chisago, Washington, Hennepin or any other county in our great state lakeshore is a plentiful and beautiful.

On an almost daily basis there is a news report regarding one of our wonderfully wet natural resources. Unfortunately, some of the news is not always so great: Eurasian milfoil, mercury in the fish and polluted waters are just a few of the concerns. Even those who live in the city are being asked to prevent grass clippings from going into the street and sewer systems as the chemicals that make our lawns so beautifully green, go through the storm drains and into our lakes. So how do you know if the sparkling pristine blue water of that Minnesota lakehome you want to buy is as clean as it looks?

As a REALTOR® working in the north and east Twin Cities metro, I do get asked questions regarding the quality of our lakes. After buyers are dazzled by the view of a lakeshore sunset, they want to know about water quality before they sign a purchase agreement. Lakeshore owners want to be able to fish, boat and swim in the water. So questions arise.

*Is the lake polluted?

*Are the fish safe to eat?

*Is there milfoil present?

*Is the water safe to swim in?
Finding these answers is simple. I direct my lakehome buyers to http://www.checkmylake.org/, a wonderful website devoted to MN lakeshore and recreation published by Conservation Minnesota. The site gives information great information on all of Minnesota’s lakes that have been tested for water quality.

A potential lakeshore buyer can find out whether the lake water is safe to swim in and whether the fish are safe to eat on a case by case basis. The lake search is very simple to use. Just put in the name and or county of the lake you are interested in and hit GO. I found that when I was looking for a big lake that overlaps into more than one county, like White Bear Lake, entering the lake name alone can be best because each lake is listed in only one county. (In the case of White Bear Lake, it listed as Washington County not Ramsey County.)

Pollution status is not the only feature of checkmylake.org. The website is updated daily with water facts, lake news and beach reports. You can also sign a petition to protect our lakes, volunteer to monitor lake quality, or submit a story about your favorite lake.

Now if you are looking for a great place to fish on a Ramsey County Lake, check out these links:

Fishing Piers in Ramsey County:

• Bald Eagle Lake
• Beaver Lake
• Lake Gervais
• Island Lake
• Lake Josephine
• Keller Regional Park (Round Lake)
• Long Lake
• Lake McCarrons

Copyright 2010 Teri Eckholm