Page 2 of 2 Previous

Continued: Minnesota vacation home market is heating up

  • Article by: JIM BUCHTA , Star Tribune
  • Last update: May 18, 2014 - 10:50 AM

“You have to take advantage of these low prices and low rates,” he said. “It’s by far a better place to park your money than in a bank.”

Blackwell, the school secretary from Oak Grove, agrees that her family’s decision to buy now had everything to do with a renewed sense of confidence in the market. And with interest rates near all-time lows, they were able buy their cottage within their $175,000 to $225,000 budget with a home-equity loan.

“I love having a cabin and looking forward to Memorial Day weekend and the 4th of July week. It’s a special thing,” she said. “And we’re already seeing prices going up, so I’m so glad we bought when we did.”

 

Jim Buchta • 612-673-7376

  • related content

  • Deepening confidence in the housing recovery is driving sales of second homes, like the cottage the Blackwells of Oak Grove bought on Lake Ida near Alexandria.

  • sold $265,000: This three-bedroom, one-bath house with 1,774 square feet on Lake Six near Detroit Lakes was listed for $285,000.

  • sold $600,000: This five-bedroom, four-bath house with 3,600 square feet on Rush Lake near Crosslake was listed for $629,000.

  • Sold $550,000: This four-bedroom, four-bath house with 3,078 square feet on Round Lake near Nisswa was listed at $579,000.

  • Photo by Faith Blackwell / photo illustration by Tom Sweeney • tom.sweeney@startribune.comDeepening confidence in the housing recovery is driving sales of second homes, like the cottage the Blackwells of Oak Grove bought on Lake Ida near Alexandria.

  • SOLD $425,000: This three-bedroom, two-bath house on Shell Lake near Siren, Wis., has 1,450 square feet of space. It sold for the list price.

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

more from real estate

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters
 
Close