Purchased: 8/2014        

 

Re-Sold: 2/2018 

 

Loss:                                  

Estimated Selling Costs:                    

Probable Total Loss              

$ 1,100,000

$ 1,025,000

— $ 75,000

$ 66,625

 

— $ 141,625

$ 1,359,000

$ 1,228,500

— $130,000

$79,852

 

— $ 210,352

Purchased: 1/2014        

 

Re-Sold: 2/2018 

 

Loss:                                  

Estimated Selling Costs:                    

Probable Total Loss              

Purchased: 6/2014        

 

Re-Sold: 6/2018

Loss: 

Estimated Selling Costs:                    

Probable Total Loss              

$ 1,440,000

$ 1,275,000

— $165,000

$82,875

 

— $ 247,875

Purchased: 12/2016        

 

Re-Sold: 4/2018 

 

Loss:                                  

Estimated Selling Costs:                    

Probable Total Loss              

$ 1,499,000

$ 1,325,000

— $174,000

$86,125

 

— $ 260,125

Purchased: 1/2015       

 

Re-Sold: 8/2018 

​Loss:                   

Estimated Selling Costs:                    

Probable Total Loss              

$1,348,236

$ 1,011,920

— $336,316

$65,715

 

— $ 402,091

Purchased: 8/2005        

 

Re-Sold: 1/2018 

 

Loss:                                  

Estimated Selling Costs:                    

Probable Total Loss              

$ 1,795,000

$ 1,475,000

— $320,000

$97,175

 

— $ 417,175

Edina Single Family Homes 1992-2017

The properties depicted in these charts not only registered severe losses but also did not benefit from normal market appreciation and inflation factors during their holding period.

Average Sale Price
As Compared To Inflation Adjusted Price
Appreciation Rates
Inflation Rates

Purchased: 3/2008        

 

Re-Sold: 8/2018 

 

Etimated Loss:                        Estimated Selling Costs:                    

Minimum Total Loss            

$ 1,850,000

$ 1,262,000

— $588,000

$82,030

 

— $ 670,030

Purchased: 6/2007        

 

Re-Sold: 2/2018 

 

Loss:                                  

Estimated Selling Costs:                    

Probable Total Loss              

$ 2,108,000

$ 1,292,000

— $816,000

$83,980

 

— $ 899,980

Purchased: 7/2005       

Re-Sold: 4/2018

 

Loss:                   

Estimated Selling Costs:                    

Probable Total Loss             

$ 2,325,000

$ 1,322,000

— $1,003,000

$85,930

 

— $ 1,088,930

Purchased: 12/2012        

 

Re: 4/2018 

 

Estimated Loss:                     Estimated Selling Costs:                    

Minimum Total Loss              

$ 2,300,000

$ 1,795,000

— $505,000

$116,675

 

— $ 621,675

Purchased: 8/2006        

 

For Sale: 4/2018 

 

Estimated Loss:                      Estimated Selling Costs:                    

Minimum Total Loss             

$ 2,275,000

$ 1,299,000

— $976,000

$84,435

 

— $ 1,060,435

Information deemed reliable but not guaranteed

TOP

Most people assume a new home or remodeling project is a sound investment.


Not when you make mistakes like these.

Knowledge is Power 

Instead of making informed choices, many homeowners base decisions about building projects on faulty assumptions, misguided whims, and ignorance about today’s norms in housing revitalization. The lack of proper guidance impacts everything from minor remodels to new construction. The resulting financial losses and penalties can be extremely severe, with no second chances or do-overs. In fact, in 2016, over 80% of new homes in Edina (built since 2005) lost an average of $217,000 upon resale.

To illustrate the catastrophic effect of poor building choices, here are a few current examples of reconstruction resales, occurring between January 1st and August 31st of 2018. As you can see, these owners suffered substantial dollar losses, offsetting gains they might have anticipated through normal appreciation or inflation – assuming any investment potential existed in the first place. 


The various professionals involved might have steered these clients towards choices less damaging to their financial futures, but for whatever reason, that didn’t happen. 

There is, however, a powerful antidote to avoiding such disasters: Knowledge.

 

By studying Edina properties that have suffered severe losses, and ascertaining why, MasterWerks has the requisite knowledge for protecting our clients from similar losses.

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MasterWerks LLC is a trade and assumed name of The Replacement Housing Services Consortium, a Minnesota corporation.

​Minnesota Residential Building Contractor License Number BC643121

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