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historic

Thinking of selling your high end home? Want something different that sets your home apart from others on the market and really grabs a buyer’s attention?

Check out the new video released by Jennifer Kirby, Broker/Owner of Kirby Fine Homes, that features one of her luxury listings in Minneapolis. It not only blows the ho-hum virtual tours of still shots used by most agents out of the water, it tells a story about the home and creates an emotional reaction from buyers that could just make them say “This is the ONE!”.

Want your high-end luxury or historic home to be featured next? Give Jennifer a call for a professional marketing consultation and analysis.

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Joining the ranks of Southways (the highest priced luxury home on Lake Minnetonka at $24 Million), the historic home owned by Irwin Jacobs hit the market for $22 Million last week.

The original home was built in 1939 for Charles Bell, son of the founder of General Mills. Named Tanager Hill, the home has been added on to over the years and sits on a hill overlooking Lake Minnetonka. It boasts 32 acres, almost 13,000-square-foot main house, a 3,500-square-foot guesthouse, a pool house, two caretaker houses, a barn and a guard house.

Sadly, there is talk in the media of this property being divided off into small home sites, and while some say there is no way the main house would be torn down, recent history on the shores of Lake Minnetonka prove otherwise. The historic Northrup House on Ferndale is slated for demolition, as is the Modernist Era home next door, two homes with such architectural significance that local residents never thought new owners would tear them down to build even bigger homes.

Will Tanager Hill sit on the market as long as Southways has? Possibly. Will anyone really spend that kind of money on a property in Minnesota, even if it can be split into smaller lots? Highly unlikely.

[idx-listing mlsnumber=”4440967″ showpricehistory=”true” showlocation=”true”]

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Most Expensive Homes in the St. Paul Area

It’s always fun to see what the Most Expensive Homes For Sale look like, where they are located, and what price they are asking, so I thought I would update my readers and let them take a peak at these amazing homes, this time in St. Paul. Most are historic homes with some amazing architectural features that just can’t be replicated today.

View the rest of these luxury homes below:

[idx-listings linkid=”371989″ count=”10″ showlargerphotos=”true”]

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1712 Mount Curve Avenue, Minneapolis, MN

Built in 1906, this stunning home was designed for Lawrence Donaldson, who with his brother William, founded the Donaldson Department Store in Minneapolis. The architectural firm of Kees and Colburn was commissioned to design the family’s residence, known for a number of major works in Minneapolis including the Grain Exchange Building, Donaldson’s Office Building, and the Charles H. Harrington Mansion. They later designed the Loring Theater, the Ford Centre, and The Lowry, to name a few.

Constructed mainly of brick, the home is exquisitely detailed with a mixture of several design styles, the most prevalent being Arts & Crafts and Beaux Arts. Subtle design elements throughout the home, linked to Mr. Donaldson’s Scottish heritage, feature the thistle. Probably the most identifiable symbol of all things Scottish, the flower can be found on the facade of the house, the entry columns, above the entry door, on the chimneys, in the living room Tiffany window, and more!

Completed sometime in 1907, additional modifications to the home began in 1908 by expanding the north side – a dining room and a second floor bedroom were enlarged, a sleeping porch was added, and the screened-in porch became an enclosed sun room. The Donaldson’s also hired well known designer John Bradstreet to create a Japanese inspired Sun Parlor, as well as design the Reception Room/Study off the main foyer. In 1916, the carriage house was completed with four large carriage stalls, a second floor apartment, a number of work rooms, and a connecting tunnel.

As happened to many large properties in the Twin Cities as time moved on, the estate was subdivided into six separate lots in 1959 when it was sold by the Donaldson family. After the passing of many decades and multiple owners, the main house was bought by the current owners in 2000, who later that year acquired the original northwest hillside lot extending down to Kenwood Parkway, and in 2001 the carriage house. With three of the six lots reunited, the land totals just over an acre, or 44,792 square feet, representing one of the largest residential properties in Minneapolis.

Restoration of a Gem

Thankfully the new owners had a vision of restoring the home back to its former splendor. Over the last decade, with love and dedication, some of the highest quality craftsman and artisans were employed to bring the home back to life, while incorporating state of the art technology and modern conveniences for today’s busy lifestyle.

Carriage House

1712 Mount Curve Avenue Minneapolis Carriage House

The 3 level carriage house includes a fully restored and renovated upper level 2 Bedroom, 2 Bath apartment with kitchen, living room, and dining room and just under 1500 finished square feet. If leased, one parking stall is included with the apartment, and is located on the main level in the property’s terrazzo floored 4 car garage. The space would also be perfect as a nanny or in-law suite. The garage main level also features a workshop and tool room. The lower level, which connects to the main residence via a tunnel includes an exercise room, work shop, half bath, and storage rooms.

Currently Listed For Sale at $5,495,000. More information available at property website www.1712MountCurveAvenue.com

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Luxury Home Lake HarrietHere are some good suggestions on what to do before you purchase a home.

  • Look for Lenders that cater to the affluent – A buyer looking as a $4 Million home doesn’t go to Lending Tree for a loan. You need a mortgage company with a history of upper bracket real estate.
  • Shop on the Internet, but don’t look at a home without a Realtor – The Internet is real estate’s most versatile tool and is a great way to browse for luxury homes and narrow down your choices. Look for a real estate agent that specializes in upper bracket homes and be honest with them about your purchasing power.
  • If you call on a listing, talk to the Listing Agent of the property – The best number to call is the agent’s cell phone, or better yet, email them. If you do have to call the office, leave a message for the listing agent. Often buyers who call about a home will only get the floor duty agent, who is always new.
  • Use an Agent that is an expert in the market and works the Luxury listings – Great agents are great agents, but if they don’t work specifically in your target price range in your target location they will not be as valuable a resource an agent who does.
  • Special properties need special agents – Ranches, waterfront, equestrian estates, all require specialized knowledge. Buyers will not know the zoning laws and potential problems associated with specialty properties, but your agent working in that arena will. An agent who does not normally work with Luxury homes could be a liability to you.
  • Know who handles the closing – How homes are bought and sold varies by state, county and region. Attorneys might handle the sale in some states and a title company in others.
  • Get an Estimate on Closing Costs – Closing costs vary by state. You also need to know if property taxes are prorated and if the state levies taxes off the purchase price or mortgage. These can be pricey when buying an expensive home.
  • Ask Questions about the local Luxury Market – Get to know the purchase documents before hand and it will help you make a better offer. Good agents educate you about the market, what is selling or not selling, and guide you through the buying process. Remember, there are no dumb questions!

Look for my next two installments of this series in the upcoming weeks!

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You may not be in the market for a new home, but that doesn’t mean you can’t enjoy looking at other people’s homes and possibly finding your “dream” home. Of course your dream home will most likely be out of your price range, but hey, that’s why it’s called a dream home!

  • Fall Parade of Homes – while I personally feel there should only be one Parade Tour each year, instead of two, for the next couple of weekends you can peruse through the model homes of local builders. The Tour runs from September 8th-30th and is open Thursday-Sunday from Noon-6pm. The last weekend also features the Remodelers Showcase which is open Friday 1-7pm and Sat-Sun from Noon-6pm.
  • Homes by Architects Tour – The AIA Minnesota is putting on its 5th Architects Home Tour featuring 16 new and remodeled homes located throughout the Twin Cities, greater Minnesota and western Wisconsin, all designed by registered architect members of the American Institute of Architects Minnesota. Some of these homes are not in the Metro, so if you want to see a specific home, expect a drive and plan your day accordingly. The tour runs September 22-23,  10am-5pm.
  • Summit Hill Association House Tour – if you love historic homes, than don’t miss this tour in St. Paul. It always has amazing homes featured that you just don’t get to see very often and is only on for one day, September 9th, Noon-6pm.

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In case you missed it, the Pillsbury Mansion “Southways” was quietly put back on the market in October 2011 for $24 Million, a far cry from its previous listing price a few years back of $54 Million. Located at 1400 Bracketts Point Road in Orono the home sits on some of the best real estate on Lake Minnetonka.

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It’s always fun to know what’s for sale, especially when we’re talking about multi-million dollar homes. In St. Paul, the most expensive homes sit on or around Summit Avenue, one of the most famous streets in the Nation for historic homes, so it should come as no surprise that the following home sits just a few blocks away.

Luxury Historc Mansion Frederick Weyerhauser

Known as the Frederick Weyerhaeuser Mansion, it is currently listed for sale at $2.75 Million. It sits on the bluff overlooking St. Paul and has quite a large yard at 1.3 acres.

Learn more about this historic home, please visit Historic Homes of Minnesota.

[idx-listing mlsnumber=”4030090″ showpricehistory=”true”]

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Probably one of the last things a luxury buyer thinks about when shopping for a new home is how he is going to insure it and how much is it going to cost. One of the hardest things to figure out is WHO is going to insure it. Luxury homes are not insured by every insurance company out there, and most likely, buyers will have to choose from a small pool of companies.

For instance, Minneapolis and St. Paul have an extensive inventory of historic homes with many showcasing architectural elements that would cost a fortune to reproduce today. Sorry, but Allstate just won’t do.  Buyers and home owners can’t just pick any insurance company to cover these beautiful and rare items; therefore, the best way to protect your home is to choose an insurance company that has a specific policy covering old homes.  Placing a value on items can be tricky, so agents can come to your home and evaluate original stain glass windows, rare woodwork, imported tile, expensive wall coverings, stone carvings…you name it, they have the expertise to value your home’s special attributes.

The initial appraisal and inventory of your home is crucial. Agents will take photos and detailed notes of everything in your home, so that should a disaster strike, your home can be reconstructed as best as possible to its original state. Most of these special insurance companies will go above and beyond the policy to make sure your home is returned to you better than before, even updating your home to current code at no additional expense to the home owner.

 Some companies that you might look into for insuring your luxury home include:

  •  HUB International – can quote from the Top 5 upscale insurance companies
  • Fireman’s Fund
  • Chubb 
  • AIG/Chartis
  • ACE
  • PURE

Many of these companies offer increased coverage for Wine Collections, Jewelry, multiple properties, flood insurance, Kidnap and Ransom, Fine Art, etc.

Home Owners, you aren’t left out of this conversation either.

 Over the years, million dollar mansions are updated and improved, but many homeowners neglect to call up their insurer and inform them of the improvements, leaving their home undervalued. When disaster strikes, homeowners could find themselves in a tough place when they don’t get the correct dollar value to replace their home and personal items. It is suggested that homeowners update their policy every year to make sure they are fully covered.

And don’t let the declining real estate market, which might state the value of your home has decreased, affect the insured value of your home. Home values have little to do with how much it will cost to rebuild and replace everything lost, so don’t get caught in that trap.

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If you don’t know Summit Avenue, then you don’t know much about St. Paul. It is only the most prestigious street in the entire city, and some will go so far as to say in all the state of Minnesota. Summit Avenue is where all the old historic mansions are located, and is known to be one of the most best preserved historic districts in the nation, with its origins beginning in the 1850’s.

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