What Do We Have in the Way of Foreclosed Eden Prairie Townhomes?

Filed in Minnesota Townhome Blog by on June 8, 2009 0 Comments

There is nothing in the way.  Call us and we  can make a beeline toward them! Display all Eden Prairie townhome foreclosures now!

If you haven’t waited too long, you should see about a dozen of them at the above link. Have prices on townhomes in Eden Prairie gone down? Of course they have. The market for townhomes was overheated to begin with, and I was frequently listing Eden Prairie townhomes at 10-20% over what sellers paid for them the year before. Town house prices were insane! The prices started to decline about two years before the recent credit crunch, as an overabundance of Shakopee townhome inventory swamped the market, and the effects rippled northward across the river. (Home sellers in Eden Prairie like to think that nobody would ever choose Shakopee over EP, but they certainly did! Money talks! You could go across the river and easily find similar units for 10-25% less! Sure, EP schools are great, but that is usually less of an issue for townhome buyers. The 169 bypass also made the commute over the Minnesota river a non-issue.)

However, I will admit that Eden Prairie enjoys a permanent demand (well, usually) for town homes because it is a favorite spot among corporate transients who enjoy the location. We will see this come back into play as the economy recovers. Also, this city is almost fully developed, meaning that your home probably won’t be competing against new construction in Eden Prairie.

You might want to jump on the bandwagon and start looking at lender-mediated properties, because other people are climbing on board. The sweet prices could disappear. Look for Eden Prairie townhome foreclosures in Hennepin Village on top of the river bluffs overlooking Shakopee. You will literally be able to look down your nose at the people who bought in Shakopee!

Find out more about Eden Prairie real estate.

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