Richard McDonough - Lakes Sotheby’s International Realty

Announcement!

In light of the recent National Association of Realtors (NAR) settlement, new rules have been introduced to enhance transparency in the real estate industry. As of August 17th, 2024 a new REQUIREMENT will be enforced for ALL realtors nationwide.

Off Market Listing Alert!! You will only see it here! Rare Chance to have a stunning St Croix River View and walk to down town. The home needs a complete remodel. But wait, we have the plans and specs and more. $475,000 reach out for more details.

Richard McDonough - Lakes Sotheby’s International Realty Whether you are considering relocating to the area, selling an existing home, buying or building a

Discover your serene retreat in this enchanting 3-bedroom, 2-bath log home nestled on 17.33 picturesque acres with woods, ponds, and a glacial esker, complete with frontage on Long Lake. Inside, find ash hardwood floors and soaring vaulted ceilings enhanced by dramatic cathedral windows. The heart of the home features a cozy wood-burning fireplace and a kitchen adorned with elegant cherry cabinets. An expansive lower level offers limitless potential for customization. This property is not just a home but a tranquil sanctuary, perfect for making lasting memories. Embrace rustic elegance and a peaceful lifestyle in this beautiful lakeside setting.
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Step into the charm of living in Prescott with the two-story Farmhouse design by Fortress Project at Great Rivers Development. This idyllic home exudes timeless appeal with its covered porch, inviting you to unwind and savor tranquil moments amidst the serene surroundings. Featuring four bedrooms and two bathrooms on upper level, this residence seamlessly blends modern comfort with rustic elegance. The lower level awaits your vision, offering limitless possibilities for expansion or customization. Embrace the essence of new construction while building your dream home.With twenty-two lots to choose from in the esteemed Great Rivers Development, embark on a journey to create your own slice of paradise. Bring your own plan or choose one of our many building and amenity filled options.

This is my latest Blog Post filled with information on tomorrows Dine Here, Dance Here Event. Just Listed St. Croix River View Home. Stillwater Real Estate Market Information and more >>>

Dine, Dance and Just Listed! — Richard McDonough May it is! Get ready to dive into an action-packed month filled with exciting events and thrilling activities.From community gatherings to cultural celebrations, there's something for everyone to enjoy. So grab your calendar and mark down these events because you won't want to miss out on all the

Experience unparalleled and breathtaking views with this stunning home nestled on 3 acres adjacent to 10 acres of National Park service land. Overlooking the majestic St. Croix River and picturesque Downtown Stillwater, this home boasts additional viewing to a spectacular heron rookery. Completely remodeled down to the studs in 2010 the residence features quality systems through out. The kitchen is equipped with a Valcucine cabinets and top-of-the-line Wolf and Miele appliances. Luxuriate in the expansive ensuite bath featuring a 6x9 steam shower with a separate soaking tub , the perfect spa type area for unwinding. Dual decks offer additional outdoor living space to enjoy the sweeping views, ideal for relaxing or entertaining. The detached garage is insulated and heated with walk up storage space. This home is a haven of luxury and natural beauty, providing an unparalleled living experience for years to come. Enjoy!

It feels like February ! Didn’t we just Spring Ahead ?

This is a not to be missed local event to support one of Stillwater's Finest participation in The Road to Hope ride.
Will I see you There?

🏡 "Vintage Charm in Bayport, MN: 1923 1.5 Story Home with Hardwood Floors and Endless Potential!" 🏡

Nestled in the heart of Bayport, Minnesota, this 1923-built 1.5 story home exudes vintage charm and character at every turn. Perfect for those who appreciate history and are ready to make their mark, this property offers a unique opportunity to own a piece of the past while adding modern touches to create your dream abode.

As you step inside, you're greeted by the warmth of hardwood floors, some exposed and others waiting patiently under carpeting, offering the potential to restore them to their original glory. The main level boasts a cozy living space, perfect for relaxing evenings or entertaining guests. The kitchen, though in need of updating, provides a canvas for your culinary aspirations.

Upstairs, you'll find two bedrooms featuring charming cork floors, adding to the home's character. With 1 and 3/4 baths, convenience meets vintage appeal throughout this home. While it awaits your personal touch and updates, it's evident that this property has "good bones" – a solid foundation ready to be transformed into the home of your dreams.

Situated in the desirable community of Bayport, residents enjoy a peaceful ambiance while still being close to urban amenities. From quaint local shops to outdoor recreational opportunities, Bayport offers the perfect blend of small-town charm and modern convenience.

🔑 Don't miss your chance to own this piece of history and create the home you've always envisioned. Whether you're a first-time buyer looking for a project or an investor seeking potential, this Bayport gem is sure to capture your imagination. 🔑

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Where there is disruption there is inovation and opportunity!

Episode 379 - Richard McDonough - Sothebys International Realty Quickly and easily listen to The Real Estate Sessions for free!

Case Study : Navigating the Purchase of a Historic Home in Stillwater, MN with Expertise and Strategy

Overview

In a competitive real estate market, securing a vintage home in Stillwater, MN, required a blend of market knowledge, strategic negotiation, and deep understanding of the local real estate dynamics. This case study outlines the successful acquisition of a historic home, highlighting the role of experienced representation, strategic planning, and effective communication in navigating a multiple-offer scenario.

Background

Listed as a "coming soon" property on the Multiple Listing Service (MLS) and other real estate portals, this historic home in Stillwater, MN, sparked immediate interest. Despite its visible wear—crumbling retaining walls, the need for tree removal, and porch restoration—the home's potential and the asking price of $400,000 drew significant attention. Our clients, represented by an agent with 32 years of experience in the St. Croix Valley, recognized the home's value and embarked on a strategic process to secure it.

Challenge

The challenge lay in the home's high interest, requiring a tactical approach to stand out among eight competing offers. The need for substantial restoration added complexity, demanding a clear vision and commitment from the buyers to ensure the investment's profitability. Additionally, establishing a rapport with the listing agent was crucial, given the competitive landscape and the seller's desire for a swift and seamless transaction.

Strategy

The strategy encompassed several key components:

1 Market Insight and Preparation: Understanding the local market's dynamics was crucial. The agent's extensive experience in Stillwater, MN real estate provided a solid foundation for advising the buyers on the home's potential and the feasibility of their investment.

2 Building Relationships: The agent proactively established a connection with the listing agent. This rapport was not only strategic for gathering insights on the competition but also for emphasizing the buyers' genuine interest in restoring the home.

3 Strategic Offer: Opting against the common escalation clause, the buyers submitted a strong, clean offer with a quick closing date. This approach signaled their serious commitment and financial readiness, distinguishing their bid from others.

3 Effective Communication: Regular check-ins with the listing agent kept the buyers informed of the competitive landscape, allowing for timely and strategic adjustments to their offer.

Outcome

The sellers received a total of eight offers, with one initially surpassing ours. However, the comprehensive nature of our offer, coupled with the established relationship and the agent's strategic communication, led the sellers to extend a counteroffer. Our terms, notably the absence of an escalation clause and the promise of a quick closing, appealed to the sellers. Ultimately, our clients' offer was accepted, securing the historic home in Stillwater, MN.

Conclusion

This case underscores the importance of expert representation, strategic foresight, and the power of relationships in real estate transactions. By leveraging local market knowledge, demonstrating commitment to the property's restoration, and communicating effectively with all parties involved, it is possible to navigate the complexities of buying vintage homes in competitive markets like Stillwater, MN. This approach not only benefits buyers but also contributes to preserving the architectural heritage of the community.

Keywords: Stillwater MN Real Estate, Selling Vintage Homes, Local Real Estate Market, Real Estate Strategy, Negotiations, Relationships, Market Knowledge
This case study demonstrates that with the right expertise, strategy, and understanding of the local market, even the most challenging real estate transactions can be successfully navigated, benefiting both buyers and the community at large.

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🏡🌟 A Tale of Transition: The Journey of a Golf Course Home 🌟🏡

In the midst of a market in flux, where higher interest rates, winter's chill, and holiday cheer create a unique blend of uncertainty, one home stood as a testament to the ebbs and flows of our recent real estate market. Nestled along the lush fairways of the local golf course, it bore witness to almost three decades of cherished memories for its owners, a family facing the bittersweet reality of relocation.

As a seasoned local agent with a reputation for navigating even the trickiest of markets, I was tasked with guiding this family through the transition. Despite the home's undeniable appeal, adorned with panoramic views and a cozy hearth perfect for winter gatherings, it didn't spark the immediate frenzy often seen in the market.

With patience and a strategic eye, we adjusted the price to match the shifting landscape, knowing that sometimes, timing is everything. It wasn't about rushing to sell, but rather finding the right match for this beloved home, ensuring its next chapter would be as cherished as the last.

Just as the ink dried on the accepted offer, a curious twist of fate emerged. Suddenly, prospective buyers emerged from every corner, drawn to the home's undeniable charm like moths to a flame. It was a reminder that in real estate, as in life, each sale tells its own unique story—a tale of timing, circumstance, and the guiding hand of experience.

In the end, it was a testament to the value of local expertise, great marketing, and the reassurance that in the hands of a skilled agent, every home finds its perfect match—even if it takes a little time. And as the family bid farewell to their beloved abode, I couldn't help but feel a sense of satisfaction, knowing that amidst the chaos of the market, another chapter had closed with a happy ending. 🏌️‍♂️🔑🏠

🏡 Once upon a time in Stillwater, MN, there lived an 85-year-old client, who decided it was time to embark on a new chapter of her life. She had lived in her beloved home for over 30 years, but now, with the support of her family, she was ready to downsize and move closer to her son.

👩‍💼 Enter our Real Estate Expert from Lakes Sotheby's International Realty in Stillwater Mn., ready to make a difference. With years of experience in handling all the details of buying and selling properties, he took Joyce's hand and guided her through the emotional journey of letting go of her home.

🔑 Understanding Joyce needs, the expert Real Estate Agent found the perfect buyer—a young couple eager for a project. They fell in love with the charm of the home and were delighted to take on the task of updating it to make it their own.

🏠 What made the deal even sweeter was that the buyers were willing to let Joyce leave behind whatever she didn't need, promising to take care of it. It was a match made in real estate heaven.

🔄 But the story doesn't end there. Our expert Realtor also had a buyer lined up for the couple's current home, ensuring a smooth transition for everyone involved. And to top it off, the buyers graciously allowed the couple to stay in their new home for an extra six weeks after closing, giving them time to make the initial renovations they dreamed of.

💼 Through his expertise and genuine care, our Real Estate Expert turned what could have been a daunting process into a heartwarming success story. Joyce transitioned to her new home with ease, knowing she had found the perfect buyer for her cherished memories.

🌟 This is the kind of real estate experience that makes a difference—a story of downsizing, upsizing, and finding joy in the journey. Thank you, Richard McDonough for bringing dreams to life in Stillwater, MN. Sold! 🎉

Better information means better decisions.

The power of your voice in real estate.🏡 Testimonials don’t just highlight success; they inspire it. Thank you for sharing your stories and guiding me towards providing the best real estate experience possible.

Attn: Stillwater homeowners! 🏡

It's that time of the year! Will I see you at the ice cream social this weekend?

Richard McDonough - Lakes Sotheby’s International Realty Whether you are considering relocating to the area, selling an existing home, buying or building a