Settling in Lakeville/Apple Valley/Rosemount (Eagan, Burnsville: transplants, for sale, real estate)

[jenng11]

Hello all-

It has been a while since I posted. We are relocating from Austin, Texas. WE looked in Eden Prairie nad Minnetonka and have settled on the Apple Valley/Lakeville/Rosemount area because of what you can get for your money.
I wanted to pick everyone's brains about specific neighborhood locations in these areas. We would like to spend between 280-320,000 for a home. The relocation is a temporary one. We will probably be there anywhere form 3-5 years so re-sale is VERY IMPORTANT to us. I would like to get into an area that I know will at least maintain value. I know there are NO guarantees in realty, but any advice on how you have seen areas do in the past or their reputation would be great.
When I was looking at homes I found an established neighborhood that was in our price range by Cherry View Elementary. Some of the homes are in Lakeville, others are in Apple Valley. Some of the street names in this neighborhood are 174 St. W, 175th St. W, Havelock Way, Hamilton, and Highview Ave. It looks like it is a few streets over from Crystal Lakes Golf Course. I also am seeing listings boasting of being located in Palamiono Hills? Any thoughts on these two ares? Any suggestions for other specific neighborhoods that are considered prime time in our price range? Rosemount is not out of the question, it just seems like we are finding more homes in our price range in Lakeville.

Thanks in advance for the help and advice.

[golfgal]

My take on the situation is that Apple Valley is the most developed of the 3 cities you mentioned. In 5 years there won't be much new construction therefore existing houses will be in more demand. Lakeville is still booming AND the taxes are high and going up with the demand for new schools. Rosemount is planning another huge housing development over the next 10 years or so which means existing homes are not going to be in a big of a demand.

The Crystal Lake area is very convenient to 35W but it also limits your commute options to a point. If the Palomino Hills area is the one in Apple Valley, that is a very prime location because of the easy access to Cedar Ave. I am surprised that Lakeville has more houses in your price range then Apple Valley and Rosemount since it tends to be more expensive there. Keep an eye on property taxes though, a less expensive house in Lakeville might end up costing more in taxes.

[Minnehahapolitan]

I think resale would be better in Hennepin County. You may get slightly less house, but Eden Prairie and Minnetonka have no new growth that you will have to be competing with in a few years. Lakeville is growing like a weed, it is harder to sell a house when brand-new ones are being built a mile down the road. Eden Prairie in particular, is popular with transplants. There is a reason for that. It may not have as much impact on Apple Valley, but it would be worried for you if you shoot for Lakeville and Rosemount. Minnetonka is an established neighborhood, the area around Cherry View is not. I know for fact that there is new development down Highview. My two cents. Good Luck
----Minnehahapolitan

[AVguy]

I agree with your concerns regarding all the new neighborhoods going up in Lakeville and Rosemount. Lakeville gained an estimated 8,000 people from 2000 to 2005, with its current population expected to double to over 100,000 by 2025. Rosemount is also seeing feverish growth, as it went from under 15,000 people to over 20,000 people in only the last six years. Apple Valley does not see much new construction (it is about 90% developed), but there is some land ripe for subdivision development in the far southeastern side of Apple Valley. Like you wrote, there are no guarantees in real estate.

There are some cheaper sides of Lakeville. One area in northeastern Lakeville, bordering Farmington and Apple Valley, looks like a further extension of Apple Valley, but you are further from major highways and the grass is less green. (Apple Valley hasn't restricted watering until recently because of the lack of rainfall--Lakeville restricts watering all summer. ) The other cheaper side of Lakeville is in the older side of town, near downtown Lakeville. You are another 10-15 minutes further from work there and the houses are older. Both of these areas are fairly close to new development, possibly explaining why the values are lower.

Generally, Rosemount is cheaper than Lakeville because it is further from limited-access highways, but this does not necessarily correspond to a longer commute. Nothing in Rosemount is far from new construction so that is a factor. School bonding issues always seem to pass in Independent School District 196 (Rosemount-Apple Valley-Eagan), so the schools should continue to be solid. Unless prices of raw housing materials go through the roof, new construction should be a concern because there is nothing geographically to halt more housing.

Some sections of Apple Valley are closer to new construction than others. I think that Palomino Hills carries such a good reputation, in part, because of the multi-million-dollar homes that oversee the Minnesota River Valley. (For appreciation purposes, who wouldn't want to locate to a neighborhood near million-dollar homes?) The highway access is good in the Palomino Hills neighborhood, but you can potentially get some highway noise in this area. Interstate 35E and Highway 77 don't see much traffic past evening rush hour, so that would limit the road noise. Other neighborhoods not likely to see depreciation are the neighborhoods near Long Lake and Farquar Lake. These areas tend to have larger lots, good road access, good schools, all with a more rural feel.

Of course, I have an interest in my house appreciating too. I'm hoping that the new Super Target and smaller retail areas near Cobblestone Lake will help boost property values in my neighborhood. (Super Target doesn't count as economic development, does it? )

[jenng11]

Thanks for all the help! While we are house hunting I will keep all of the insider scoop in mind!

[Robert P Stewart]

I'm amazed at the good advice in this thread - way to go guys!

Right now 275K-325K can buy a nice home in Lakeville. Obviously, what you need in a home will determine an awful lot too.

I'm a big fan of the Cherry View neighborhood. The homes are newer but just different enough that your guests won't walk into your neighbor's house by mistake. There are lots of families, kids, and more kids. Great place.

We've actually sold a bunch of homes south of Lakeville this past year that struck me as good deals. 4 bed 3 bath 2800sqft homes were selling for somewhere in the low 300K's. That's awesome.

Of the towns you've mentioned, my hat's off to the others - Lakeville is probably the best bet. Cherryview neighborhood is 5 minutes from I-35 and 10 minutes from I-35 if you stop for coffee first.

I've got lots of pictures of the Cherryview neighborhood and parks - let me know if you'd like me to pass them along. Good luck with your search!!

Robert

[jenng11]

The Cherry View neighborhood was definitely one of my favorites. It seemed to be very quaint and well kept. It also seemed to have a little more character than some of the other neighborhoods. Do you feel like this would be a good place to buy as far as resale goes?
Also - Is there a restaurant in this area that specializes in "home-cooking"? Coming from Texas we have quite a few. Something like a Marie Callenders. Roast, Chicken Fried Steak, Mashed Potatos, Gravy, Rolls...that sort of thing. I haven't been able to find much along these lines. We did try Old Chicago and thought it was pretty good.

[Robert P Stewart]

Not only is Cherry View a strong neighborhood, resale-wise (actually, it is strong in most every way I can think of) - I know of several homes which are not currently for sale but the owners are indeed willing to sell. I know most everyone - it's fun.

Home cooking? We have a Cracker Barrel about 5-7 minutes from Cherry View. Here at the house, we do a mean redeye gravy, amazing fried chicken (we fry in lard), and french fries that make me teary. When you're in town, you'll have to stop by for dinner!

Robert

[cordell]

We currently live in Owatonna and I drive 70 miles north for work. Yes it's a long commute but we bought 2700 sqft house for 150k about 4 years ago so I don't mind the drive. A friend of mine just built a brand new house here for 350k and got almost 5000 sq ft. The place is huge but he sold his other house northern suburb, which was much smaller, for the same price.

My point being in 3-5 more years the area between Lakeville and Burnsville will be a giant mess whereas our little town is growing but much slower.

Good luck. About twice a year I try to convince my wife to move a bit farther north but when we go house hunting we immediately turn around.

[thejersey5]

Well good morning everyone! We too are being transferred to Minnesota from New Jersey. I've gotten alot of useful information by reading these posts so thank you all so much. We first went househunting there 2 weeks ago, and decided that Lakeville would be the town for us. It seems to be very family friendly with alot of kids. We have 3 kids and our #1 priority is a good school. While researching, it seemed ISD 194 & 196 topped the list. So we went from there. My first choice was Cobblestone Lake in Apple Valley. The neighborhood looks like something from a movie. It's beautifully kept, and so quaint. That being said, the houses are on the smaller side and don't have much of a yard. We then looked at the Cherryview area and fell in love. We felt like we were home in that neighborhood. We will be moving into that area in July and we're all looking forward to it.
By the way, living in New Jersey my whole life I was a little nervous about the move initially. After coming out there to visit, I felt welcomed and comfortable. Everyone is so friendly and laid back there. People in New Jersey tend to be a rush all the time and don't always take a moment to enjoy all life's blessings. So Thank You Minnesota, can't wait to call you home.