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This Richfield MN MLS listing is not for “bottom feeders.”

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6901 Pillsbury Ave South
Richfield MN MLS 3515929
$249,900

Sold!

See available Richfield MN homes and learn more about the community.

There are a lot of people out there who watch too many infomercials and think that you can snap up nice properties for “pennies on the dollar.” Well, folks, it just ain’t so! We all know that this is an excellent time to buy property in Richfield. We have also heard that there are a lot of foreclosures out there. But even with bank-owned properties, it is a myth that you can “steal” them. In fact, all of those have had at least two appraisals or broker price opinions, so the bank knows what the value already is. Can you find a “good value?” Yes. Can you find some tremendous “deal” like those two midgets on late night TV talk about? Probably not. Can you find some kind of fabulous, discounted property with some sort of “seller carryback” financing like Carlton Sheets talks about? I doubt it. If it were possible, all of the REALTORS would have found them first a long time ago, and they would all be on a golf course in Barbados right now instead of holding open houses on nice Sunday afternoons. It’s always good to give your thinking a reality-check now and then. Real estate markets are cyclical, but people still invest in real estate because it tends to hold its value, and in the Minneapolis real estate market, it has seen some tremendous long term appreciation. You don’t see the “buy low” and “sell high” overnight market patterns in real estate the way you do in the stock market, for example.

Now, let’s take a look at this nice updated home in Richfield. This is not a foreclosure. Is it an outrageous “steal?” No. But it is a good value, considering that it appraised at over 280,000 about a year and a half ago. Now we all know that appraisals performed for re-financing purposes will tend to be a little generous. Still, this estate sale is priced below market value and it will probably be gone soon. Don’t waste your time dreaming about some “lowball” offer being considered. Put your best foot forward, and make a reasonable offer. It is already listed at a reasonable price.

Features:

  • Three bedrooms
  • Two bathrooms
  • Double garage
  • Approximately 2252 finished square feet
  • Big corner lot
  • Trees
  • Quiet street
  • Bar
  • Hardwood floors
  • New water heater
  • Four season porch
  • Mint condition

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Call 612-296-0007 to see this home today!

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