Before you put your house on the market, or consider buying another home, you need to find out how much homes are selling for in today's market, so you can make your plans based on the most up-to-date information available --
If you’re curious about what your West Savage home may be worth, here’s an easy way to find out what homes like yours are selling for in today’s market.
To get your FREE Report on West Savage House Prices, simply Click here
Join us for an Open House in West Savage!
9320 134th Street W. - Oak Hills Neighborhood of Savage
This 5BR 4BA home boasts 3 levels of living space, loaded to the hilt with almost every upgrade offered by the builder. Cherry floors, granite countertops, built-ins, two fireplaces, huge master suite with whirlpool tub, and much more.
Come see for yourself this Sunday!
Offered at $399,700
The following is a slightly modified excerpt from an earlier blog posting on West Savage Blog.
With the fall in home values since the peak of the market, West Savage is continuing to see short sales hit the market. Short sales differ greatly from foreclosures. Foreclosures are bank-owned homes where the bank is the seller and is offering no warranties on the property. Often times these homes need TLC and are offered at a discount. The list price is one the bank will accept, and like most other sellers’, this price may be open to negotiation.
Short sales, on the other hand, are properties where the seller still owns (and may or may not reside in) the property. However, the value of the home is less than the amount owed on the mortgage. In most cases the seller has stopped making mortgage payments and is anywhere from two to twelve months away from foreclosure.
In short sale situations, the seller’s lender must approve any offer on the property, as the lender takes a financial hit on the loss with approval of the sale. Lenders will not negotiate a short sale until an offer has been received, hence, the initial list price of a short sale listing is not necessarily a price the bank would be willing to accept. Rather, it is a price used to generate an offer and begin negotiations.
Once an offer comes in, a two-three month wait for an approval or denial of the offer is normal. Lenders may attempt to prevent the seller from selling the property by offering discounted mortgage payments for a period of time. In cases where the seller will not agree to such programs, the bank may deny any offer from a prospective purchaser, which may put the seller in a “pickle”. Short sales may take anywhere from 2-4 months to complete from the time an offer is received, and are difficult transactions.
A bank will not accept a short sale if the seller cannot demonstrate a serious financial hardship. In some cases, the seller may be liable for any unpaid debt. Furthermore, the seller must be late on payments in order for a short sale to be a consideration.
The nature of the short sale transaction continues to vary on an ongoing basis. There is no rhyme or reason to them. Much of the process depends on the lender, the number of mortgages taken against the property, the amount of those mortgages, and the date of the sheriff's sale. They do continue to be complex in nature.
Short sale prices are often at, or slightly below market, as the urgency to receive an offer exists. Pricing discounts need to given consideration, as buying a short sale requires a lengthy waiting time on behalf of the buyer.
Short sales in West Savage are currently found in Oak Hills, Woodhill, and Summit Ponds . There is one pending short sale in The Pointe. There are significantly fewer of them this year than there were at this time last year, when nearly every West Savage neighborhood was affected.
Finally, while the traditional seller typically buys and sells in cycles (imagine a camel's hump with the peak being spring/summer), the short sale and foreclosure market is numb to the seasons. They hit the market all year round, without regard for temperatures or the school year.
We continue to assist sellers with short sales to help them avoid foreclosure, and to help protect property values, as foreclosures drive down home prices and have an adverse impact on everyone who owns a home in the area.
Welcome to 9243 136th Street! Built in 2004, this full brick front home offers a 4 bedrooms on one level, three bathrooms, and a three car garage.
The arched covered entrance leads through a beveled glass door, and an impressive two-story foyer with pillars. Formal living and dining rooms flank the foyer and are met with an open staircase.
The home features a two-story Great Room with gas fireplace, recessed lighting and custom JC Penney window treatments. A main floor den with French door entry lies off the foyer.
The kitchen has like-new hardwood floors, stainless appliances, and a built-in desk. A butler pantry lies between the kitchen and the formal dining room. The laundry/mud room is off the kitchen. The washer and dryer stay with the home.
Four spacious bedrooms occupy the second floor, and are connected with a catwalk overlooking the Great Room. A master suite with French doors creates a dramatic entrance. The master bedroom also features a luxury master bath with whirlpool tub, double gridded transom windows, a large walk-in closet and separate commode.
The unfinished basement is enormous and has lookout windows overlooking a large backyard. The front and backyard are landscaped, and the large fountain in front of the home will stay.
This home needs some minor repairs. Aggressively priced at $349,700.
VIEW THE ONLINE FLYER FOR 9243 136TH STREET.
SOLD in Oak Hills!
This gorgeous, spacious, executive home features 4 bedrooms on one level, 3 bathrooms, and a 3 car garage.
Enjoy the elegance of cherry and enameled woodwork, stainless steel appliances, corian countertops, knockdown ceilings with recessed lighting, and formal living and dining rooms. The home features an open staircase, a two-story great room, den with French doors, and a butler's pantry. There is also a main-floor laundry.
Four spacious bedrooms occupy the second floor, and are connected with a catwalk overlooking the great room. The master suite features French doors. The master bedroom also offers a private master bath with whirlpool tub, enormous walk-in closet, his-and-hers vanities, ceramic tile floors, and separate shower.
This home offers conveniences such as central vac, and an in-ground sprinkler system. Situated on a walkout lot, this home has tons of windows overlooking open space! The home is now available for showings! It needs some cosmetic TLC. More photos can be found on our website.
This impressive Oak Hills home is now SOLD!
9210 Hillcrest Drive - Savage
There is a pending offer on this home boasting a full brick front with three car garage, arched covered entrance with a beveled glass door, and an impressive two-story foyer. A formal living room and formal dining room adjoin the foyer. The home features an open staircase, two-story great room, den with French doors, and a full granite kitchen with butler's pantry. Enjoy hardwood floors, fresh paint and new window treatments with this home.
Four spacious bedrooms occupy the second floor, and are connected with a catwalk overlooking the great room. A master suite with French doors creates a dramatic entrance. The master bedroom also features a luxury master bath with whirlpool tub, large walk-in closet and separate stool.
The walkout basement is framed and ready for your finishing touches.
Located on a large cul-de-sac lot with pond views, this is home has all the amenities you could ever need in a home!
Welcome to... www.WestSavageBlog.com!
The Oak Hills neighborhood is one that we are personally glad to call home, as we built a home here and selected this location to raise our own family. The Oak Hills neighborhood features 76 upscale single-family homes built between 2003 and 2005 by Pulte Homes. The neighborhood has three ponds, rolling terrain, and is just walking distance to five local parks. The neighborhood lies just south of McColl Drive and is on Savage's west side. Oak Hills is in Shakopee School District 720.
