Top Residential Transactions - 6605 Dakota Trail, Edina - Finance ...

Posted: 1:23 pm Fri, May 27, 2011
By Anne?Bretts

6605 Dakota Trail in Edina (Photo: Bill Klotz)

When David Rowland bought his new home at 6605 Dakota Trail in Edina for $3.45 million, he did not have to worry about the quality of the home theater system. The seller was former Best Buy Chief Executive Officer Richard Schulze and his wife, Stephanie.

?They were tired of Minnesota winters, so they moved to Naples, Fla., two years ago,? said the listing agent, Aaron Ouska of Edina Realty.

The Schulzes actually bought one home in 2005, tore it down and built a six-bedroom, 7,600-square-foot ranch home with a custom stone exterior. Two years later they bought the house next door and built a matching 1,850-square-foot carriage house, complete with a sport court on the lower level.

Even at the high end of the market, however, people are looking for bargains. The house was listed at $5.5 million but sold more than two years later for $2 million less.

?There?s not a huge pool of buyers who can purchase homes like this,? Ouska said. And those who are buying aren?t in a hurry.

?The buyer saw it the first time over a year before we closed,? Ouska said. ?Buyers don?t jump into things as fast as they used to.?

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Daniel and Janet Schalk had their home at 2080 Meeting St. in Minnetonka on the market barely two months when Matthew J. Schliep bought it on March 25 for $1.95 million.

Custom builder Keith Waters and Associates of Eden Prairie built the home in 2006, with nearly 7,000 square feet of finished space on a 1.3-acre lot. The one-story home with lower level walkout features four bedrooms and six baths, with strong architectural details, a stonework exterior and luxury interior finishes.

The listing agent, Michael Wille of Coldwell Banker Burnet?s Minneapolis Lakes office, said the Schalks just completed their home a year ago but recently had a career relocation. They sold quickly because they priced aggressively, he said. ?I?ve had seven luxury home closings this year, and all of them sold at between 60 and 70 percent of replacement costs,? he said.

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Finance & Commerce recently reported that Roxane and Stephen Gudeman sold their Lowry Hill home on March 15 for $1.7 million. And now, here?s the rest of the story.

On April 4, the Gudemans paid $1.3 million for a townhome at 112 Groveland Terrace in Minneapolis, not far from their former home. The sellers, Arthur and Anne Collins, had the unit on the market for about a year before it sold.

Groveland Terrace is a luxury brick townhome development designed to fit its historic Minneapolis neighborhood. The 3,400-square-foot unit includes two bedrooms, two baths, garage space, a private elevator and a courtyard.

Scott Acker of Burnet & Birkeland in Minneapolis, who listed the property, specializes in homes with architectural significance.

This entry was posted on Friday, May 27th, 2011 at 1:23 pm and is filed under Top Transactions. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Source: http://finance-commerce.com/2011/05/top-residential-transactions-6605-dakota-trail-edina/

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