Settling in Lakeville/Apple Valley/Rosemount

[FromOR]

We're currently in a rental in Apple Valley and our house out of state has finally sold and we are now ready to buy one here. I'm curious as to where the Cherryview neighborhood is. Could someone give me some street names? Sounds like it's a very family friendly neighborhood which is definately important to us!

Thank you!

[golfgal]

The only places I can think of are around Pennock and 140th or so. I did a google search and came up with a Cherryview Park on Dodd and Cedar but that is technically Lakeville so I am not sure it is what you are looking for.

If it is the neighborhood on Pennock--it is kind of iffy. There are a lot of rental apartments, etc. there and it is right off Cedar (by Walmart) so ??

[Sarah Maske]

Hello,

Congratulations on your decision to move to Minnesota! It's a great place to live and I'm sure you'll be happy here!

Regarding resale in the area you've chosen. I would be very cautious about buying in that area if you are moving within 3-5 years. As someone else said above, you are going to have better chances in Hennepin or Ramsey county for resale.

I'd be very hesitant about putting your family in something out there if you wanted to move from it so soon - especially in that price range. The forecast for this area is grim considering your price range. We are seeing many people buy down in that area for prices higher than what you're looking at and for lower than what you're looking at. Moreover, empty-nesters are leaving that area and moving into the city. There is a reason why you can get more house for the money there...that is just one of them.

I would try Bloomington or Richfield instead.

Sarah

[golfgal]

Originally Posted by Sarah Maske

Hello,

Congratulations on your decision to move to Minnesota! It's a great place to live and I'm sure you'll be happy here!

Regarding resale in the area you've chosen. I would be very cautious about buying in that area if you are moving within 3-5 years. As someone else said above, you are going to have better chances in Hennepin or Ramsey county for resale.

I'd be very hesitant about putting your family in something out there if you wanted to move from it so soon - especially in that price range. The forecast for this area is grim considering your price range. We are seeing many people buy down in that area for prices higher than what you're looking at and for lower than what you're looking at. Moreover, empty-nesters are leaving that area and moving into the city. There is a reason why you can get more house for the money there...that is just one of them.

I would try Bloomington or Richfield instead.

Sarah

Really?? That is news to me?? Why would one move from school district 196 to Richfield?? To the casual observer in our area, houses in that price range are still selling and have been selling fairly well even through this market.

[Sarah Maske]

Originally Posted by golfgal

Really?? That is news to me?? Why would one move from school district 196 to Richfield?? To the casual observer in our area, houses in that price range are still selling and have been selling fairly well even through this market.

Golfgal, I'm glad you are seeing progress in your area. That's great news! Perhaps that will give us some hope for other markets in our communities. Many times it's the insight from folks who live in the community that can give those in the real estate industry the up to the minute perspective.

However, according to MLS, there are over 160 active listings in this price range in the Lakeville/Rosemount area for single family homes (this doesn't even touch the amount of town homes or condos for sale) versus only 20 active listings in Richfield (same range and single family homes). Many people in the real estate industry are seeing this problem with the southern suburbs/cities. There were plans to create huge developments in that area during the boom that have come to fruition. Now, builders/developers are up the creek with bank loans and have to sell on the cheap. In the reading I've done of the area with articles from NAR, it could and probably will continue to be difficult to sell there in the next 3-5 years. True, it is going to be difficult anywhere you want to sell in this time frame, but your chances for resale, as it appears now, are going to be better in the city.

To be clear, I am only addressing resale in 3-5 years in my opinion of this area. I know the southern burbs have many wonderful things to offer including good school districts. I believe the person considering the area must take into account all aspects of the community and weigh out the importance of school district over resale. That be told, there are other areas over there where school district and resale may go hand in hand.

Sarah

[golfgal]

Originally Posted by Sarah Maske

Golfgal, I'm glad you are seeing progress in your area. That's great news! Perhaps that will give us some hope for other markets in our communities. Many times it's the insight from folks who live in the community that can give those in the real estate industry the up to the minute perspective.

However, according to MLS, there are over 160 active listings in this price range in the Lakeville/Rosemount area for single family homes (this doesn't even touch the amount of town homes or condos for sale) versus only 20 active listings in Richfield (same range and single family homes). Many people in the real estate industry are seeing this problem with the southern suburbs/cities. There were plans to create huge developments in that area during the boom that have come to fruition. Now, builders/developers are up the creek with bank loans and have to sell on the cheap. In the reading I've done of the area with articles from NAR, it could and probably will continue to be difficult to sell there in the next 3-5 years. True, it is going to be difficult anywhere you want to sell in this time frame, but your chances for resale, as it appears now, are going to be better in the city.

To be clear, I am only addressing resale in 3-5 years in my opinion of this area. I know the southern burbs have many wonderful things to offer including good school districts. I believe the person considering the area must take into account all aspects of the community and weigh out the importance of school district over resale. That be told, there are other areas over there where school district and resale may go hand in hand.

Sarah

160 to 20 listings with a population the is more then 4 times that of Richfield is not all that out of line??? I seriously doubt that Richfield will be 'the' place to live in 3 or 5 years. Your resale options are ALWAYS going to be better in better school districts, ALWAYS. For families with children the southern suburbs are a much better match then Richfield all the way around.

[Sarah Maske]

Well, Golfgal, you have your mind made up!

It's a supply and demand issue. That's all. I understand your statement about population size. I should have included Bloomington to that number but only mentioned Richfield because you did. If you add Bloomington to Richfield, weigh the number of pending sales, population and active listings, the southern subs still come out this way. I hope you know I am not attacking the area as a whole - it's a GREAT area to live in. My original post had to do with resale and resale only - again, it's purely a supply and demand issue and that ALWAYS outweighs school districts.

I only wish people in my community were as passionate about school districts as you and I are. And school districts DO matter. To be sure.