Real Estate Blog

What's a broker open?  Every Tuesday, around midday, realtors with listings host open houses where realtors and buyers can stop by and take a look at the home.  The purpose of a broker open is for the listing agent to get feedback from other agents.  Is the price right?  How's the staging or the presentation?  Any better marketing ideas?  And for visiting agents to see homes first hand and get a better feel for price/value in different neighborhoods.  I see anywhere from 3 - 5 homes on Broker Open Tuesdays and thought you might appreciate my insight on these listings. 

Here's Broker Open Breakdown #1:

5020 Harbor Lane N, Plymouth, MN
$650,000, 4 beds, 3 baths, 3 car attached garage, 2654 square feet, built in 1998
Link to listing here:  https://bit.ly/3vZ1VOb

Big pluses for this home are that it's in an established neighborhood and that it's in the Wayzata school district, which is one of the preferred districts when people are looking to buy in the West Metro.  Lots of elbow room inside, all bedrooms on one level,  and a great shop / craft room area in the lower level.  Plymouth is a very popular locale for new builds, so my only real issue with this home is the price./value proposition  With comparably sized new and newer builds also selling in the mid- to high- $600's, this home felt like it needed some sprucing up / cosmetics to compete well with those newer communities.  Inventory in the Twin Cities is really low right now, so we'll see if the home's pluses and the low inventory help maintain the current list price.  Grade:  B

6604 Field Way, Edina, MN
$1,399,000, 5 beds, 4 baths, 3 car attached garage, 4153 square feet, built in 1973
Link to listing here:  https://bit.ly/4bjbojp

This is a "Wow House".  The sellers have had this home remodeled from top to bottom and nothing's been left untouched.  All the upscale finishes you'd expect at this price point in Edina with new fully updated kitchen and bathrooms.  Owner's suite is top notch and what I really loved was the lower level.  Often the lower levels get remodeled into useless, difficult to use finished spaces.  The lower level in this home is thoughtfully planned and meticulously updated.  Truly as nice as the other levels in the home.  With this level of updating, at this price and located in the Parkwood Knolls neighborhood, I think you'll be hard pressed to find something more appealing on the market right now.  Grade:  A

6424 Indian Hills Road, Edina, MN
$3,150,000, 4 bedrooms, 5 bathrooms, 3 car attached garage, 5424 square feet, built in 2005
Link to listing here:  https://bit.ly/47ViY0M

A splendid display somewhere between mid-century and craftsman styling.  Everywhere you look, you can see that design mattered, product selection was from the best available materials and that more windows is better!  The look and feel of this home enforces my belief that the owners spent what they needed to get the aesthetic they wanted - even if that means their home would cost far more to build than the current asking price.  This home will appeal to a specific subset of buyers, but for those buyers, it should exceed expectations.  Click the link above for more detailed listing information!  Grade A-

2815 Casco Point Road, Orono, MN
$3,495,000, 5 bedrooms, 5 bathrooms, 3 car attached garage, 4643 square feet, built in 1924
Link to listing here:  https://bit.ly/3SmbLBe

A stunning home, comprehensively renovated from top to bottom.  And that's just the home renovation.  The entire hillside terrace between the home and the lakeshore has been completely replaced, including a lakeside boathouse with rooftop deck for entertaining and amazing views.  A perfect home for those wanting the best of lake life or for entertaining friends, family and colleagues.  The water is "A" quality so you'll be able to enjoy being in the water as much as you love looking over it!  Perched along the shore of Phelps Island, you'll enjoy it all while having the privacy of being off the beaten path.  Grade: A

That's it for this premier edition of the Broker Open Breakdown!  If you'd like more information on these or other homes, just contact me and we'll talk!

Mitch

Disclaimers:  
1.  My grades are strictly arbitrary and reflect only my opinion after having seen each home in person.
2. My comments reflect my experience, having seen hundreds of homes.   Please see the individual listings for the most accurate information available on each home.