Mortgage and Finance
Low Appraisal? Three ways to Save the Sale of your Home…
The dreaded “Low Appraisal” is being heard in Real Estate offices all around the South of the River Suburbs. Those two small words have a powerful, negative impact on the sale of your home. Recently, I represented a client in a transaction with a low appraisal. I’m happy to report we solved this crisis and are scheduled to close on their new home soon. The learning experience is one I’l like to share. When an [...]
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4 Reasons Townhome Association Dues are High or Low…
Why is there such a significant difference in Townhome Associationi Fees between Complexes? Searching for townhomes in Lakeville and Farmington yesterday for a client, I sorted possible homes based on the Association Fees. Some complexes have high monthly association dues and some are much lower. It’s an important detail to watch when buying a Lakeville or Farmington Townhome because the monthly association fee is counted by Mortgage Companies when calculating the house payment you can afford. The [...]
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How much money do I really need to buy a house?
Down payments, Earnest Money, Upfront Appraisal Fees, Homeowners Insurance, and the dreaded Closing Costs are all expenses faced by buyers when purchasing a home. How much money do you really need to buy a house? The days of Zero Downpayment Loans have been gone for a few years. There are still some programs left which offer down payment assistance but most programs still require a contribution from the buyer. Mortgage officers provide great knowledge of the [...]
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The art of writing an offer, 5 things to know…
Searching for the perfect South of the River home consumes the attention of every buyer. The thrill of the hunt kicks in as we scour the computer for a hot new listing. Our senses are on red alert as we drive through a new neighborhood for the first time, scanning for swingsets, bikes and kids. We notice parks and commute routes, roofs and siding, backyards and decks like we have never seen them before. Then we [...]
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Top 3 Reasons to Sell your Home in 2013…
The Real Estate Market is off to a roaring start! From my perspective and experience, I believe it’s going to be a banner year! I can’t speak for the entire country, but I’m confident in my opinion for our local South of the River Home Sales! Below are my top 3 Reasons 2013 will be a great year if you’re considering “Selling my Home in Apple Valley, Eagan, Lakeville, Rosemount and Farmington Minnesota!” 1) Inventory Levels are [...]
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How long does it take to buy a house?
Last week I met a delightful young couple from an online request to show one of my listings. Currently they are looking online for houses, then contacting the listing agents to see individual homes. It’s a normal way to start the process of buying a home, years ago this was done by going to open houses all weekend long. I offered to be of more help to them in their search for a South of the River home. Sheepishly, [...]
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What is the Shadow Inventory and should we fear it?
Shadow inventory, the very mention of it brings fear to Realtors, Brokers, Mortgage Officers and Homesellers! The term Shadow Inventory is used to describe the large volume of homes, currently foreclosed and held by banks, just waiting to hit the market. Some fear the Shadow Inventory will strike another crippling blow to our fragile Housing Market and cause prices to further decline. To understand the Shadow Inventory we need to know the statistics behind the [...]
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We are Seeing Encouraging Signs! Monthly Market Summary
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Emily Green (2012 President, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez. Click the embedded clip below:
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Multiple, Multiple, Multiple Offers….a good sign?
If you look for positive news about the housing market, you will find it easily. Many industry experts are speculating that 2012 will be turn-around year and prices are at or near the bottom. There is statistical data to support this including New Home Starts, Number of Homes Sold, Higher Success Rates on Short Sales and Lower Number of Foreclosures on the Market. Here in the Real Estate trenches, the encouraging signs of recovery in [...]
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5 ways to rescue your Underwater Townhome…
The question makes my heart *Sigh* each time I hear it. “What should I do with my Burnsville Underwater Townhome?” “How can I sell my Apple Valley Townhome if it’s Underwater?” “I can’t sell my Lakeville Townhome, but I need to move?” “When will my Farmington Townhome be worth more than I owe on it?” “Should I Short Sale my Eagan Townhome?” “What happens if I let my Rosemount Townhome go into Foreclosure?” Each person’s situation [...]
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