8294 Drexel Court, Eden Prairie Sold in 40 Days
This one went quick…
618 20th Avenue NE, Mpls Sold In 11 Days
This one went really quick…
Money Magazine Ranks Plymouth, MN as the #1 Place To Live
I received my August, 2008 copy of ‘Money magazine.’ The cover article is titled ‘America’s Best Places To Live.’ I was a bit surprised to find the suburb of Minneapolis - Plymouth - was ranked the #1 place to live.
With a population of 70,000, 8 lakes, top-ranking schools, easy access to Minneapolis and St. Paul, about 100 miles of trails, what makes Plymouth really stand out is not just one thing, but many. Also included in the article is a brief profile on Medicine Lake, which is about 900 acres. 900 acres is a fine-sized city lake, by any standards.
According to Money Magazine, Plymouth had only one con: A long, cold winter.
It’s true, winter in Plymouth, and anywhere remotely close, is certainly cold. The remedy: embrace it, or be miserable. If you do embrace it, winter can actually be pretty enjoyable. Sometimes.
Anyhow, reading the list further, I found that Minnesota boasts 8 citiies out of the top 100! This is certainly a very disproportionate amount (in the good way).
These cities include: #1) Plymouth, #17) Eagan, #24) Apple Valley, #40) Eden Prairie (what happened to the consistent top 10 ranking for the past several years?), #41) Maple Grove, #43) Burnsville, #70) Rochester (I certainly agree with this one) and #93) Blaine.
A couple of close neighbors were #88) Fargo, N.D. (should be #1), #89) Madison, WI. and #97) Bismark, N.D.
I guess in spite of the winter, we’re in the right area. IMHO, try selling that to those of us who weathered (I’m suffering from pun-itive damages here) this past winter out.
A few more of those and I may actually move the crew to sunnier shores.
Actually, not a chance.
Flipping for Profit - In This Market? - Yes!
Here is a great article from Forbes.com, which was recently brought to my attention. What is funny is it is something that I have figured out, and even pitched to a renovator friend of mine a few months ago. As he is getting married in August, he is too busy. However another friend of mine - an investor - is interested.
I do believe there is a definite market for this, for about 10 reasons (which I’ll let anybody in on who inquires) which all add up to making a solid, logical case. The prime areas for this to work are within the main foreclosure and short-sale areas.
Obviously Kirk Leipzig has taken this a bit farther than most people ever would AND HAS DONE EXTREMELY WELL IN THIS MARKET, IN THE PROCESS! But it can still be done, at different price points, and even at the same price points.
In the Southwest Minneapolis metro area this would be certain parts of Eden Prairie, Shakopee, Bloomington, St. Louis Park, Hopkins, Minnetonka etc. What it would take is somebody with brains and guts, and the ability to obtain financing. You can find a little of this in Edina, but not much. However, if you are patient, the opportunity will appear.
Update of 4306 Grimes Avenue, Edina, MN
At the seller’s request and providing the church next door does not excercise the first offer to purchase (right of first refusal), the on MLS (on the market) date for 4306 Grimes has been pushed back to Wednesday, July 16th, 2008.
4306 Grimes Avenue, Morningside neighborhood, Edina
The sign went in the yard earlier than expected. This home will be available on the MLS and to the public on Monday afternoon. It is a full 1/2-acre lot, 100×225 feet. The home is a teardown.
Pricing will be in the mid $400’s. Please call with any questions.