Lakeville- New Home Construction & Lot Choices

The real estate market, it never gets boring because it’s always evolving, or regressing depending on which period of time you’re talking about. Well, over the last 1 1/2 years it has been evolving again as homeowners have seen nice equity increases all while buyers have been able to take advantage of still low-interest rates. The seemingly endless wave of news clips that showed entire streets lined with FOR SALE signs still appear at the fore front of our minds, those images were seared in our mind from years of a high supply and very low demand for houses. If you haven’t tuned in recently you may not have realized that what was happening just a couple of years ago couldn’t be further from today’s reality. Now, in fact, our housing inventory is at a 10-year low and multiple offers are as common as the word “foreclosure” was just a few years ago.

Sellers are loving the hot activity on their listings but have different challenges when shopping around for their next home. Double moves, though inconvenient, are becoming a consideration for somebody selling and then buying because they may not have the luxury of simply picking a house, writing an acceptable offer, and closing in 60 days. Existing home buyers find themselves competing for the same listings and can sometimes lose out on a few homes before landing the right one. So, what are many people doing to avoid beating down doors only to find themselves in a multiple offer? They’re BUILDING! Lakeville specifically is in the top metro markets for new construction activity. Year-to-Date residential permits are at 151 compared to 97 during the same period one year ago. Impressive, right? I think it is when you consider that 97 was a huge gain from the year before and so on. We’re expecting the fall of 2013 into 2014 to be even higher.

If you’re familiar with Lakeville you’ve seen some of the changes occurring in housing but also road construction throughout the city. Here are a few of the developments that currently offer home-sites, or will soon be soon.

1.Crescent Ridge located just South of the Dodd and Highview intersection on the East side of Holyoke Ave. Builders consist of local custom home builders such as GBI Homes, C&M, Country Joe, Keyland, as well as a few others.

2.Donnelly Farms is located between Dodd and Holyoke, just across Holyoke from Crescent Ridge. GBI Homes and Brandl Anderson currently have models in this development though most lots are built on. A few options are still available.

3. Stoneborough is a 70 lot parcel that has model homes from KeyLand and GBI Homes. You will see a variety of styles at a lesser price point than other neighborhoods but act quick if you’re interested, these lots are mostly spoken for!

4. Aronson Bluffs is still a field but have heavy equipment ready and waiting to put streets in. You may know this area because it’s adjacent to Aronson Park that boasts a great playground, softball fields, and of course the Air Force Jet parked under a large gazebo! It’s on HWY 50 just East of the Lakeville Fire Station on Holyoke. Just a few local builders have home-sites in this development and presales have begun.

5. Summerlyn is located adjacent to Donnelly Farms to the North. Dodd and 194th. Big activity draws national builders which is what this neighborhood is. This development is currently being developed and if a planned neighborhood with a national builder is what you’re looking for, this may be a good fit.

6. Tullamore is another national builder neighborhood . It’s located in what some call the “Bermuda Triangle” because it has a Farmington/Apple Valley/Rosemount feel but is technically in Lakeville near the Pilot Knob and 170th intersection.

7. Rose Creek is a Ryland Homes planned neighborhood. This national builder has many of the same designs seen in their other planned communities and is still developing this site which is located on Dodd, near the Lakeville Police Station.

If you notice a reoccurring theme that Dodd is the artery for much of Lakevilles New Residential Construction, you’re right! This is largely why it’s currently being widened and a round a bout is being put in at the Highview intersection.

There may be other future sites and current home-site inventory not mentioned in this blog. Please contact me with updates and insight on anything missed OR contact me if you have question about styles, prices, or lot availability in any of these areas or South metro areas. If selling is part of the equation you have before you let us prepare a professional market analysis on your home and provide important tips on how to get the most out of your home!

YOUR DREAM. YOUR HOME. OUR PURPOSE.