Minneapolis
Minneapolis

Minneapolis Real Estate - Shannon Lindstrom

Shannon Lindstrom

Minneapolis Downtown Condos & Lofts

Shannon Lindstrom - February 18, 2009

Are you are looking for urban living with modern upgrades and a contemporary flair? Metro Minneapolis condo living is for you. If you want a Minneapolis Realtor who specializes in condos and lofts and represents Buyers only, contact Twin Cities Exclusive Buyer Agent, Shannon Lindstrom.

There are a variety of condominium and loft developments within the downtown Minneapolis city limits.

If you want to live on the north side of downtown here are few tasteful and chic lofts with modern floor plans you may want to look at:

  • 710 lofts
  • 720 lofts
  • 730 lofts
  • 918 Lofts
  • Lofts of International Market Square
  • Rock Island Lofts
  • Tower Lofts

An added bonus to the north loop neighborhood is being within walking distance of the future Twins Stadium - Target Field, with an expected completion date of 2010.

If you are looking for a condo or loft in northeast Minneapolis/ St. Anthony, you may want to look at the:

  • Falls and Pinnacle Condominium
  • Cobalt Condominium
  • Durkee Atwood Lofts
  • Madison Lofts
  • The Cooper Lofts
  • Village Lofts
  • Warehouse 2 Lofts

The advantage of living northeast of the Mississippi river is the Minneapolis skyline view from your high-rise condo or loft. You will be within distance of casual to fine dining restaurants, quaint coffee shops, art galleries, and trendy, specialty stores. The historical Mill District and central business district offers individuals a great opportunity to experience and explore downtown living.

If you like the cultural Mill District, you may want to view the:

  • Zenith Condominium
  • Bridgewater Lofts
  • Humbolt Lofts
  • North Star Lofts
  • Park Avenue Lofts

The Mill District is located on the West Bank of the Mississippi River. Residents live in the heart of the Minneapolis Mill District, within walking distance of the Mill City Farmers Market, the Guthrie Theatre, and the Riverfront Gold Medal Park. The center of downtown's business district has many high-rise living opportunities for buyers who want to live in the center of Minneapolis.

Here are few condominium developments you might find interesting:

  • 1200 on the Mall
  • Grant Park
  • Skyscape
  • The Ivy
  • The Nicollet
  • The Towers

Minneapolis downtown living gives you shopping along the Nicollet Mall and a rich variety of dining possibilities.

According to the Minneapolis Area Association of Realtors, the current average price for a Minneapolis condominium is $214,700, which is an increase of 7.6% from $199,588 for 2008. The supply of inventory has also increased by 16.6% from last year's 14.6%, so there is plenty of availability for interested buyers.

Shannon Lindstrom, Buyers Real Estate Group | 866.798.0558

The New Age of Minneapolis Home-Buying

Shannon Lindstrom - January 23, 2009

We have heard for months the Twin Cities real estate market is declining. Is it really? We have an increase in availability of property inventory whether it is short-sales, foreclosures or traditional seller owned. Homes are more affordable now than they were three years ago. The median sales price for a home in Minneapolis for 2008 was $195,000, a decrease of 13.3% from the 2007 median sale price of $225,500.

You will find some of these affordable homes on the market are foreclosures and have some issues, but if you have look past that you will see the potential these homes offer in return. As an Exclusive Buyer Agent, I work only for the homebuyer and their best interests are my first and foremost concern at all times. I have shown a number of homes with issues: bathroom mirrors and cabinets removed by previous owners, dirty carpets, general updating needed and other minor repairs and cosmetic needs. These homes have great potential if you are willing to put your time and money into the repair updates of these homes. When buyers purchase a home under its market value and are willing and able to make the few repairs themselves, time and again they come out ahead.

I find some buyers take the opportunity to "going green" when rehabbing these properties and their homes eco- friendly. In 2007, Natural Homes magazine named Marcy-Holmes neighborhood " Most Eco-Friendly Neighborhood. " It is one of the top 10 Eco-Friendly neighborhoods in the nation. The Marcy-Holmes neighborhood is located in Minneapolis on the east bank of the Mississippi River.

Today's homebuyer is doing their homework even before contacting an agent. They research neighborhoods values, and local markets on the internet before and during the home buying process. They are aware of the current market values on properties. Some buyers are looking for eco-friendly, green-living homes, townhouses, condos, and want walking neighborhoods. Minneapolis, with its beautiful neighborhoods, both historic and new, is a great place to explore many opportunities and areas when looking to buy new home with these features.

The current real estate market for Minneapolis Housing Supply Outlook:

Month's Supply of Inventory
January 2009
Month's Supply
1-2009 Change
All 8.3 7.6 - 9.3%
Previously Owned 8.1 7.3 - 9.6%
New Construction 10.4 10.4 - 0.3%
Single-Family Detached 8.3 7.0 - 15.8%
Previously Owned 8.0 6.8 - 15.2%
New Construction 12.1 10.3 - 14.8%
Townhomes* 8.2 8.7 + 5.7%
New Construction 8.8 12.0 + 36.7%
*Includes twin homes

Minneapolis has many opportunities for homebuyers looking for real estate in "walking" neighborhoods. We can never really speculate when gas prices will increase or decrease, but wouldn't it be great to walk or ride your bikes to work or the grocery store instead of having to drive your cars? Downtown Minneapolis has a wide variety of condos within walking distance to the Nicollet Mall, the Target Center, and the Hubert Humphrey Metro Dome. Northeast Minneapolis and St. Anthony has condos, lofts, townhouses, and pre-existing single-family homes within walking distance of the Mississippi River and Nicollet Island. The Uptown area of South Minneapolis has walking and biking paths along Lake of the Isle and Lake Calhoun with plenty of condos and single-family homes to choose from in different price ranges.

There are great opportunities for homebuyers in the Minneapolis area. Don't you think it is time to explore your options?

Shannon Lindstrom, Buyers Real Estate Group | 866.798.0558