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Old 08-08-2012, 11:49 PM
 
1,500 posts, read 1,772,842 times
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I am a zillow/trulia every single day kinda gal. Yes, you bet you can find a 4 bedroom for 100-200k in north Minneapolis. From what I gather you may get shot there. Chances are slim but it could happen. Run a crime report via google on the zip code and if it's 4 times the national average that "you may get murdered" (as one zip code stated) that is why its cheap. There are some nice toll homes sporadically placed throughout the twin cities. Overall though I agree that home prices are reasonable and built really well up there!
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Old 08-09-2012, 05:36 AM
 
9,741 posts, read 11,163,289 times
Reputation: 8482
Quote:
Originally Posted by SleepyOwlMN View Post
I meant our particular house (and yes, our town was hit hard) has dropped at least 40%. I am not going by zillow, but by actual house prices. We bought our house less than a year before the peak. Different areas are going to be different, but when we were looking, in our town (Monticello) the cheapest houses were about 160-170k and there were only a few. Everything else was $180k+. Now there are quite a few under 100k.
Checkout this site. See Show Me the Data – Altos Research

As you see from the link, prices in your area are up from $86 a square foot to $93 a square foot or about 10% just since March.

Now see https://www.city-data.com/city/Big-Lake-Minnesota.htm . Notice that the average home peaked at $200K and went down to $140K. That's a 30% drop not a 40%+ which would be typical for a outer blue collar suburb. I don't doubt that you will see some statistical outliers that drop 40-50% in any town. But those may have water damage, missing cupboards, mold, etc. A specific home could be down 40% that use to be worth $5M as well. But on average, Monticello nor any other metro area location is not down by over 40%.

Last edited by MN-Born-n-Raised; 08-09-2012 at 05:48 AM..
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Old 08-09-2012, 05:55 AM
 
9,741 posts, read 11,163,289 times
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Quote:
Originally Posted by NCN View Post
Location in the country.
Location in the state.
Location in the city.

Who wants to live in Minnesota?
About 5.4 Million people.
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Old 08-09-2012, 06:56 AM
 
Location: Sector 001
15,946 posts, read 12,287,130 times
Reputation: 16109
around here prices are quite high right in the town where all the jobs are, but the prices generally drop fairly fast when you go to neighboring communities. I hate commuting, so I won't spend 1/3 or more less if I have to drive 25 miles, right now I have a great setup where my commute is 2 miles. Location location.

It's pretty boring out here as it is, there's barely enough to do in this town, much less moving to one with 1000 people in it. For what it's worth, I want to live in Wisconsin, back along Lake Michigan where I grew up, but no blue collar work will pay what I make now, assuming I can even find a job.
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Old 08-09-2012, 07:56 AM
 
1,114 posts, read 2,424,905 times
Reputation: 550
Quote:
Originally Posted by Minntoaz View Post
I am a zillow/trulia every single day kinda gal. Yes, you bet you can find a 4 bedroom for 100-200k in north Minneapolis. From what I gather you may get shot there. Chances are slim but it could happen. Run a crime report via google on the zip code and if it's 4 times the national average that "you may get murdered" (as one zip code stated) that is why its cheap. There are some nice toll homes sporadically placed throughout the twin cities. Overall though I agree that home prices are reasonable and built really well up there!
Considering the OP is talking about 20 acre plots, I don't think he's looking in North Minneapolis.
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Old 08-09-2012, 08:27 AM
 
145 posts, read 324,655 times
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There's nothing really stopping it so the area can grow as much as it wants to; no lake or ocean or mountain to hem in growth and drive up real estate prices. Even the Met Councils attempt to slow down suburban growth isn't effective since developement is just leaping over to areas outside of it's jurisdiction.
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Old 08-09-2012, 10:02 AM
 
Location: Plymouth, MN
308 posts, read 897,006 times
Reputation: 394
Quote:
Originally Posted by Minntoaz View Post
I am a zillow/trulia every single day kinda gal. Yes, you bet you can find a 4 bedroom for 100-200k in north Minneapolis. From what I gather you may get shot there. Chances are slim but it could happen. Run a crime report via google on the zip code and if it's 4 times the national average that "you may get murdered" (as one zip code stated) that is why its cheap. There are some nice toll homes sporadically placed throughout the twin cities. Overall though I agree that home prices are reasonable and built really well up there!
BTW please take the $$$ in Zillow / Trulia with a grain of salt. their information is heavily statistics driven, sometimes unintentionally deflating home prices when in reality it is far from being the case.

I had my "250K" home appraised yesterday and I will easily put it on the market for $270K. it was a pleasant surprise, to say the least.
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Old 08-09-2012, 11:05 AM
 
4,176 posts, read 4,670,550 times
Reputation: 1672
Quote:
Originally Posted by pzrOrange View Post
BTW please take the $$$ in Zillow / Trulia with a grain of salt. their information is heavily statistics driven, sometimes unintentionally deflating home prices when in reality it is far from being the case.

I had my "250K" home appraised yesterday and I will easily put it on the market for $270K. it was a pleasant surprise, to say the least.
I've noticed the same thing. Zillow can be wildly inaccurate. A house near me recently sold for $232k, but its Zestimate was something like $194k. Another place had a Zestimate of $211k but sold for $246k. Zillow also cannot take condition into account -- this can cause huge price discrepancies.
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Old 08-09-2012, 12:12 PM
 
20,793 posts, read 61,308,820 times
Reputation: 10695
None of the information on Zillow is accurate about our house-size, bedrooms, bathrooms, price, etc.
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Old 08-09-2012, 02:00 PM
 
9,741 posts, read 11,163,289 times
Reputation: 8482
Quote:
Originally Posted by golfgal View Post
None of the information on Zillow is accurate about our house-size, bedrooms, bathrooms, price, etc.
Agreed. Zillow is a semi-worthless site.
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