It is now official, you didn’t win the lottery. But all is not lost, for the price of a $2 ticket, you were able to spend a day or two pondering the “what-if” and thinking about how your life may have changed had you leapt a few tax brackets overnight.
For many that what-if may have included thoughts about a new home. For those dreamers (and anyone who can scrape together $5 million+) we present Minnesota's five most expensive residential real estate transactions of 2015.
Takeaways:
The West Metro is the place to be in Twin Cities residential real estate
Last year saw five homes fetch over $4 million each
With the “sold search” function on westmetrohomesearch.com you can explore each of them, as well understand the market for homes that may better fit your budget
The Mansions of Minnesota Millionaires
14,000+ sq. ft, 15 Acre
Sold 10/15/15
$4.3 Million
As you can imagine, a multi-million dollar home with no lakefront must be full of amenities, and this property in Medina truly delivers. Not only are there vaulted ceilings, sun and exercise rooms, but this estate also includes a 5,000 square foot garage complete with more than enough room for five cars. Who needs five cars you ask? Presumably the same person who needs the property's five fireplaces, all burning fuel culled from six forested acres (also included).
As for the kids, an indoor basketball court offers a nice distraction, complete with a balcony overlook so the new owner’s butler can properly supervise while junior perfects his jump shot.
#4- 1280 Bracketts Point Road, Orono
Lake Minnetonka Estate
Sold 9/15/15
$4.5 Million
The place to be in the west metro is on Lake Minnetonka of course, so if lakefront property is more your style this home in Orono has 300 feet of it and a dock that stretches as far as the eye can see. Oh sure, the new owner will have to rough it with a relatively modest 6,000 square foot home, but the views are sure to beat Medina’s best. As an added bonus the outdoor pool will no doubt pay dividends for the roughly 60 days a year when there is no snow on the ground.
#3- 320 Ferndale Road, Wayzata
Sold 11/12/15
$5 Million
For an extra half a million a potential buyer could have upgraded their lake experience to Wayzata Bay and this 7,000 square foot walkout. A truly a stunning home, that extra half million garnered the buyer a significant upgrade in not only location but also curb appeal and landscaping. Let’s just hope they also set aside some loose change for the $57,000 in annual property taxes.
#2- Mooney Lake, Orono
Meadowood
Sold 9/18/15
$5.3 Million
Lake Minnetonka can be busy, so for the buyer of this property a larger shoreline and a quieter lake likely made more sense. This home sits just west of highway 101 on Mooney Lake, a wonderful spot to begin a possible second career in agriculture. With 93 acres and an orchard, this de facto ranch will allow the new owner to channel their inner farmer while staying close to the metro and living in luxurious comfort. As 93 acres can be quite an upkeep challenge, let’s hope the buyer has a teenage son or 12 for lawn care.
#1- 19550 Cedarhurst, Deephaven
Sold 8/3/15
$5.875 Million
At #1 sits the self-proclaimed “best property on Lake Minnetonka” offering its new owner a stake in nearly an entire peninsula. With a tennis court, home theater and formal dining area that is practically hanging over the lake, this property is unique to say the least. The ultra-modern kitchen promises to be enough to bring out anyone’s inner Emeril as they entertain guests.
Built on a single level, this represents perhaps the perfect retirement oasis for anyone hoping to enjoy the fruits of their golden years --presumably following a career robbing banks.
Current Listings
Are you sorry you may have missed out on any or all of these properties? Never fear as several current west metro area listings include options with list prices all the way up to $24 million. These stunners include all the amenities you’d expect like tennis courts, private ponds and game rooms. Bargain shoppers will also note that many have recently seen list prices slashed by over a million dollars!
If this look at “how the other half lives” has you questioning your current home, or dreaming of a new one, we’d love to help you investigate cost-effective solutions to upgrade. It doesn’t take millions to find a home that better suits your family and can substantially improve your quality of life. A consultation is always free and we love helping families explore all that is possible.