Real Estate Blog in St Cloud, MN

Five Mistakes that Lower your Credit Score from Mark the Mortgage Guy

Jason Tangen (Edina Realty) — Sat, 12 Jul 2008 08:51:32 -0500

Originally posted at www.StCloudEdina.com/blog:

This article was written for me by Mark Timpane of Edina Realty Mortgage in St Cloud MN. If you have any questions or concerns about this post, feel free to add them here and I will get Mark to reply. If you would like to speak with Mark on a one on one basis, you can reach him at (320) 240-6157 or also at http://MarkTheMortgageGuy.com.

I have had several of your clients that I have recommended to work with a professional to help fix their credit. It's surprising how many consumers make the same credit scoring mistakes over and over again. In an effort to educate your clients on credit and credit scoring, I've compiled 5 common credit scoring mistakes into a list that defines each mistake and explains why they are bad and how to avoid them:

Credit Mistake #1: Closing Credit Cards Accounts

This is probably THE biggest credit mistake that consumers make. What you may find surprising is that closing credit card accounts can hurt your credit score almost as badly as missing a payment.

Not only is this the number one on the top five credit scoring mistakes, it's also number one on the list of credit myths.

Ironically, most consumers make this mistake based on poor advice from a mortgage lender as a strategy for improving their credit scores. A word of advice people, when you're dealing with something as sensitive as your credit and credit scores, make sure you do your homework before trusting some of these so called 'industry experts' before following through with their advice.

There are two important reasons why you should not close credit card accounts:

1. Eventually, the accounts will fall off of your credit reports - The information in your credit reports are subject to certain rules in regards to how long it can remain in the report. In most cases, credit information will remain in your credit reports for seven years from the account's DLA or date of last activity.

When an account is open, the DLA will continue to update each month and the open account will never reach that seven-year mark.

If you close the account, the DLA will stop updating and the clock will start ticking. Eventually the account will be completely removed from your credit reports.

Why would this be a bad thing?

It's simple - you never want to get rid of old, positive information in your credit reports. This information actually helps your credit scores.

Credit scores want to see this positive account information. They want to see your long, perfect history of making your payments on time because this information significantly helps your credit scores.

This information significantly helps your credit scores so why would you ever want that history to disappear? You wouldn't! Here's an analogy for you: let's say you made straight A's in high school. What if the record of that perfect scholastic accomplishment were permanently deleted seven years after you graduated? Would you ever want that history deleted? Of course you wouldn't. The same is true for the credit reporting environment.

So, what should you do with old credit cards that you don't use any longer?

What you don't want to do is to let the account become inactive. When this happens, the credit card companies aren't generating any revenue for your account.

Eventually they'll close the unused account because you're more of a liability than an asset. You can prevent this from happening by using the card every few months for low dollar purchases like dinner or a tank of gas.

When the bill comes in, just pay it in full. If you do this, it will ensure that the account will never be closed and you'll always get credit for your good payment history.

2. You could cause a spike in your revolving utilization and tank your scores - The percentage of your available credit in comparison to the debt you owe is a very important factor in calculating your credit scores.

This is often called "revolving utilization," or your debt-to-limit ratio.

For example, if you have an open credit card with a $1,000 credit limit and a $500 balance then you are using 50% of your available credit. This means that you are 50% utilized on this particular credit card.

Now lets add a second credit card to the mix.

Let's say you have another open, but unused credit card account with a $1,000 limit and a $0 balance. This would put your total revolving utilization at 25% because you have $2,000 in available credit limits and $500 in total balances.

If you divide your total balances by your total credit limits, you'll get your total aggregate revolving utilization: $500 divided by $2000 equals .25 or 25%.

So how will closing unused credit cards hurt your credit score? When you close an account, the amount of available credit decreases, which could result in a higher revolving utilization and lower your score.

Let's use the example from above and close the second unused credit card account. When you close the account, you remove it from any utilization calculation and now you're stuck with one open credit card account with a $1,000 limit and a $500 balance.

This caused your utilization to go from 25% to 50%.

Remember, you divide the total balance by the total available limit so $500 divided by $1,000 is .50 or 50%. As this percentage increases, your credit score decreases.

When you're talking about several unused credit cards with high limits, you can just imagine what closing credit card accounts could do. I've seen consumers go from a 10% utilization to almost 100% utilization because they closed all of their credit card accounts except the one they were currently using.

Big mistake.

Credit Mistake #2: Missing Payments

It doesn't take a credit scoring expert to tell you that missing payments is a bad thing. The only reason I made missing payments second to Closing Credit Card Accounts is because this one is a no brainer.

It shouldn't take a credit expert to tell you that missing payments is bad. Common sense should tell you that missing payments is bad. Credit scores are designed to predict how likely you are to miss payments In the future.

This means that they look at your credit history to view how you've managed all of your credit obligations.

Missed payments is the most powerful predictor of future late payments. The FICO score evaluates previous late payments in three different layers:

How Severe - How severe is the late payment? It doesn't take a statistician to tell you that a 30-day late isn't as bad as a 90-day late. The more severe the late payment, the more damaging it is going to be to your credit scores.

Consumers who have missed payments by a few weeks and then bring their accounts current score much better than consumers that have gone 90+ days past due. In fact, a 90-day past due is the threshold that will wreak havoc on your scores.

If you are unable to avoid a late payment, the next best option is to get those accounts current as quickly as you can.

How Recent - How long ago did the late payment occur?

If you've read some of my previous articles on credit scoring, you'll know that the last 24 months of your credit history are critical because the FICO score places more emphasis on your recent credit patterns.

This means that a late payment 6 months ago is going to carry much more weight than a late payment from 4 years ago. To recover from late payments it's important that you get current and stay current.

How Frequent - How often have the late payments occurred? Consumers that miss payments frequently are penalized much more severely than those that have missed a payment here or there in their past.

If you have a tendency to make late payments your credit scores will reflect your bad habits. Make your payments on time and you'll never have to worry about losing points in this category.

Credit Mistake #3: Settling Accounts

One of the most common mistakes consumers make is assuming that 'settling' with a lender is a great way to save a little cash.

Unfortunately, they don't realize what that a 'settled' indicator in their credit reports is actually derogatory.

"Settling" is a term used in the consumer credit industry that means accepting less than the amount you owe on an account. For example, if you owe a credit card company $5,000 but you can't pay them the full amount then they will likely make you a deal for less than that full amount. They have "settled" for less than the full amount, which is likely much less than you contractually owe them.

This may seem like a good idea because you save quite a bit of money but as far as the credit scoring models are concerned, this is just as negative as other severe late payments.

The only way to avoid the damage to your credit scores is to arrange a deal with the lender to report the account as 'paid in full' as opposed to 'settled'. If they don't agree then it's in your best interest to figure out how to pay them in full or else be prepared to suffer the damage to your credit for the next 7 years.

It's also important to understand that if the account has already made it to the collection phase, the damage is already severe and settling won't really make a difference. Settling is only an option if the account has already made it to a severe delinquency state.

Credit Mistake #4: High Revolving Utilization on Your Credit Cards

Most consumers believe that making your payments on time is all it takes to have good credit and earn great credit scores.

What they don't realize is that almost a third of your score is determined by how much you owe on your credit card accounts. If you have high balances on your credit card accounts, you're credit scores could be severely impacted by your revolving utilization.

In order to score the most possible points in this category, I advise keeping your revolving utilization at 10% or less.

Don't be fooled when you hear some of these celebrity experts telling you that 50%, 30% or even 25% is best.

While 30% is considerably better than 50%, 10% or less is ideal. The lower the utilization percentage, the better your score will be. (*To read more about revolving utilization and how it's calculated, please read the revolving utilization bullet in Mistake #1.)

Credit Mistake #5: Excessively Applying for Credit

Whenever you apply for credit your application gives the lender permission to access your credit reports. When they pull your credit reports, it automatically posts an inquiry in your credit record. This inquiry is a record of who pulled your credit report and the date it occurred.

Credit scoring models use inquires to determine if and when you shop for credit. Statistics show that consumers who have more inquiries are higher credit risks than those with fewer inquiries.

It is for this reason that the more inquiries you have, the more points you lose in the credit score calculation.

The exact point value of inquiries is a much argued topic and is impossible to give an exact point value because it really depends on all of the other information included in your individual credit file.

The best strategy would be to only apply for credit when you absolutely need to.

This means that you should avoid those in store offers of "10% off" in exchange for applying for a store credit card. This may sound like a great idea but the reality is that while you may save a few bucks on your purchase, those inquiries could end up costing you a lower credit score which could result in higher interest rates on auto or mortgage loans in the future.

There you have it. Now that you know the top 5 credit mistakes, you can avoid making the same mistakes that so many other consumers make.

Mark "The Mortgage Guy" Timpane
110 Division Street Waite Park, MN 56387
320-240-6157 Office
320-240-6148 Fax

Jason Tangen, GRI - Edina Realty St Cloud MN

Broker Associate

http://jasontangen.edinarealty.com - Search real estate in St Cloud and Central MN

Number of Foreclosed Properties on the Rise in Central MN

Jason Tangen (Edina Realty) — Wed, 25 Jun 2008 10:19:23 -0500

As we went through the spring market and into the early summer months, we have had enough sales to cover the amount of foreclosed properties that were coming onto the St Cloud MLS. We have averaged 325 active and pending foreclosures on the St Cloud MLS since January of this year. Yesterday, when I pulled the foreclosure search for a potential client, I noticed that the total had crept up to 350+.

This excess of foreclosed properties is not a good thing for our market. I think the best thing that could happen is that we sell them off at a fairly quick rate. I know that it isn't great news for people who are trying to sell their homes, but we need to get the vacant properties moved so that our home builders can start on new properties in the future. We have a lot of people sitting idle in Central MN just waiting for this housing lull to pass so that they can resume work.

If you are on the fence about buying a property, I highly suggest talking to a real estate professional about what is going on with the market.

1) I can think of several great potential purchases for a new homeowner that would probably net somewhere between $30-100K in equity to their future owner.

2)The interest rates are rising slowly and if inflation keeps moving upward with the gas prices, home loan rates will follow suit and go even higher.

3)Lastly, if you do not have the money set aside to make a home purchase, your chance to get a home with 0% down could be gone by the end of the summer. The last (non-VA or rural development) 0% down home purchase program is under great scrutiny from both the President and the department of Housing and Urban Development (HUD).

Those are three reasons that now may be the best time to purchase for quite some time. Talk to your professional and I'm sure they will give you several more reasons.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

www.StCloudEdina.com - Get a free list of foreclosed properties in Central Minnesota

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

ActiveRain Real Estate Referral Network

Jason Tangen (Edina Realty) — Thu, 29 May 2008 12:10:49 -0500

I just had some outstanding results from requesting a real estate professional to help a friend of mine that I met while in the Marine Corps.

Norm (my friend) has stayed in the San Diego area and is thinking about starting the home buying process. I told him that I would get him in touch with my contact out in San Diego to help him start getting prepared to buy a home. I had someone in the San Diego area previously that I utilized to keep me up to date on the market conditions and help me whenever one of my in-laws might be thinking of moving. My wife grew up in PB (Pacific Beach) and we still know a lot of people in Southern California that are close friends or relatives. Unfortunately, my contact is no longer in the real estate community and I needed to find someone else to help.

I could have used the relocation network within my company, but I wanted to ensure that my new contact was a tech savvy individual to keep me abreast of whatever situations. Consequently, I used ActiveRain's real estate referral network.

Within 8 hours of posting my request for a real estate agent in the Santee CA area, I had over 30 real estate professionals reply.

WOW!

It is definitely a testimonial to the ability of the ActiveRain community to connect real estate professionals with other real estate professionals in a very short period of time.

It is also a sign of how much more tech savvy the real estate agents from Southern California are compared to the real estate agents in Central Minnesota. I'd bet that there are only a handful of real estate professionals in the St Cloud area that have response times to Internet queries of under 1 day.

Now my dilemma is which agent to choose.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

www.StCloudEdina.com - Search Homes for Sale in St Cloud MN

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Free Home Value Estimator in Central MN - The e-Market Analysis

Jason Tangen (Edina Realty) — Fri, 25 Apr 2008 10:00:58 -0500

The e-Market Analysis is a free home value estimator in the St Cloud area. I wish that I could cover a larger area, but I can only manually figure out estimates of home values in areas covered by the St Cloud MLS (Clearwater, Clear Lake, Becker, Foley, Rice, Avon, Albany, Cold Spring, Rockville, Richmond, Kimball, Annandale, St Stephen, St Joseph, Sauk Rapids, Sartell, Waite Park, and St Cloud). Outside of this 15 mile circle around St Cloud, MN my effective range drops drastically. I can sometimes get you in touch with someone locally that can help, but I can't guarantee that they have the resources to pull this off.

How does the e-Market Analysis work?

Every month I scan the MLS to get average prices on specific home amenities for specific areas. By utilizing these prices, plus the current listing and sold prices of the best comparable properties on the St Cloud MLS, I can get a fairly accurate estimate of value.

What makes this different than other home value estimators?

1) The e-Market Analysis uses only the most current data from the St Cloud MLS for comparisons. 2) The e-Market Analysis is performed by a human to make sure that only the best comparable properties are used. 3) The e-Market Analysis can generally be delivered within a few hours of request (depending on my schedule that day). 4) For an non-viewed property analysis, it is amazingly accurate. Granted, the specific amenities and condition of a home can move the final market value up or down accordingly.

What have I learned in doing these e-Market Analysis'?

1) I learned that many people do not want to hear the potential sales value of their home. When I first started doing e-Market Analysis' in 2006, I had several people tell me that I was crazy and that their homes were worth thousands more. As it turned out, there have been 8 homes that have been listed for sale with a different real estate agent after an e-Market Analysis was performed. All ten have sold at or slightly under what the e-Market Analysis said. They also averaged more than 6 months on the market before they sold. If you have an e-Market Analysis performed and you feel it is inaccurate, give me a call. If I stop at your home there might be something that I am missing. Which brings me to my second point...

2) Some homes don't fit into boxes. What I mean by this is that certain properties just cannot receive good numbers without being seen first. It seems the more unique the property, the bigger the difference between the e-Market Analysis value and the actual value.

If you are interested in finding out what your home might be worth at a time of sale, visit http://www.stcloudedina.com/e-MarketAnalysis.html and I can have an e-Market Analysis out to you within a few hours. Also, if you know of some other good value estimators available on the market, I would love to check them out. I have tried Zillow's Zestimates before and it just doesn't have enough data to be accurate in Central Minnesota yet.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud, MN

Real Estate Sales and Statistics for St Cloud MN Area

Jason Tangen (Edina Realty) — Thu, 24 Apr 2008 20:47:25 -0500

I have just finished up the final touches on the Tangen Report for the First Quarter 2008. The Tangen Report is an overview of real estate sales in St Cloud, Sartell, Sauk Rapids and Waite Park.

If you would like to view previous Tangen reports, visit http://stcloudedina.com/blog/the_tangen_report/.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://jasontangen.edinarealty.com - Search real estate on the St Cloud MLS

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Business Testimonial: Larry Logeman at Executive Express in St Cloud MN

Jason Tangen (Edina Realty) — Sun, 20 Apr 2008 09:56:57 -0500

Originally posted at www.stcloudedina.com/blog on 12/08/07:

I feel a little sheepish giving this testimonial (because my wife works at Executive Express), but I have to thank them for the wonderful service that we experienced when traveling to and from the Minneapolis Airport with Executive Express of St Cloud.

Recently, my family took a little vacation to San Diego to visit my wife's family. Why we came back, I'm not real sure. It's cold here.

Executive Express (for those of you who do not know) is an airport shuttle, event charter, and delivery service based in St Cloud, MN. Not only did we save on the gas and potential airport parking expenses, we also had wonderful drivers who were willing to help us with our bags. This comes in very handy when you are traveling with an infant and a small child. As a side note - kids get to ride for FREE during the holidays! If you would like to learn more about Executive Express in St Cloud and how they can assist you in your travels, visit their website below:

http://www.executiveexpress.biz/ - Executive Express "Providing Transportation Relaxation"

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud MN

http://www.stcloudedina.com/ - Search Homes for Sale in the St Cloud MN Area

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

The Home Ownership Accelerators: A great way to own your home or another cheap scam?

Jason Tangen (Edina Realty) — Sun, 20 Apr 2008 09:50:45 -0500

I'm posting this entry a little in the dark because I do not currently have a Home Ownership Accelerator account, nor have I had any clients utilize this service. Nevertheless, this new home loan (not really a loan, more of a HELOC with computer software) is extremely intriguing.

The Home Ownership Accelerator (HOA) is basically an account that you set up against your home vs. paying a tradition mortgage. The reason for using a HOA is that as you deposit your paychecks into the HELOC (Home Equity Line of Credit) account and the computer software tells you when to pay more to the principle balance of your home mortgage. This keeps the amount of interest that you owe at the end of the month significantly lower because your principle balance has decreased in advance. Over the month, as you need money for bills, etc., you pull money from the HELOC account. It is meant to replace your checking/savings accounts.

This philosophy is undeniably great. A person with a $200,000 home loan could feasibly pay it off in under 15 years and save over $100,000 in interest payments. But there is another side of this that some people have to seriously consider.

Living paycheck to paycheck is not really an option with a HOA. Also, for those of you who are not the most fiscally responsible people, and you know who you are, having free reign on the equity that your home is creating can be very tempting. It would become very easy to justify a huge plasma TV or new car purchase with the savings you have created. The nice thing is some of the companies' software programs give you a "true cost of purchase calculator." This shows people how much they will spend over time if they choose to purchase the plasma TV instead of putting the money to their home.

This would be my personal checklist for anyone who is thinking that a HOA is the right product for them:

1) You must have at least 15-20% equity in your home. I don't recommend this product (nor do I think it's available) to anyone who is "equity challenged" in their home.

2) You must have at least a 5-10% surplus of income at the end of each month. Similar to a credit card, not making a full monthly payment can really put you in a hole.

3) You must be able to recognize the difference between an asset and a liability. For those of you who knew the difference off the top of your head, great. For those of you who did not, I recommend reading "Rich Dad, Poor Dad" by Robert Kiyosaki to get you started in the right direction. The reason for this item in my checklist is to remove many frivolous spenders before they get themselves into trouble.

4) You must be capable of maintaining a budget and monitoring your results.

5) You like to save money.

I would love to hear some response to this post from people who are currently utilizing a HOA and/or lenders who have this product available to their clients. This is a learning process for me as I do not have any direct relationship with someone who is currently utilizing a HOA. I am interested in learning more about HOA's and how they might benefit my personal and my clients' situations.

Jason Tangen - Real Estate Broker Associate with Edina Realty of St Cloud

http://www.stcloudedina.com/ - Search the St Cloud MLS

http://www.stcloudedina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Business Testimonial: Wayne Sieling of Ability Home Inspections

Jason Tangen (Edina Realty) — Sun, 20 Apr 2008 09:38:28 -0500

Originally posted at www.StCloudEdina.com on February 14th, 2008:

I had the pleasure of meeting with Wayne Sieling the other day as he performed a home inspection for one of my clients. I had not used his services in the past, but he was recommended to my client through her work at Thermo-Tech. I guess Wayne has performed many window installations for Thermo-Tech in the Central Minnesota area.

Wayne was a wonderful home inspector who checked everything from potential hazard areas to the temperature of the tap water for safety. It was kind of nice to hear that Wayne was an accomplished electrician, general contractor, and very knowledgeable about the inner workings of a home. I was definitely impressed with Wayne's professionalism, attention to detail, and custom service. I will use Ability Home Inspections in the future with some of my clients.

If you need more information about Wayne Sieling at Ability Home Inspections, give him a call at (320) 290-8880.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud, MN

Phone: (320) 492-2667

E-Mail: jason@stcloudedina.com

Can we accurately predict the end of this real estate slump?

Jason Tangen (Edina Realty) — Sun, 20 Apr 2008 09:27:13 -0500

Originally posted at www.stcloudedina.com/blog on 04/02/08:

I read today from Realty Times a phrase that got me thinking. The article is at: http://realtytimes.com/rtpages/20080402_sandiego.htm

I believe that the articles take on real estate professionals trying to predict real estate market trends is sometimes extremely careless. However, I also believe that some real estate professionals spend a lot of time analyzing the data that comes from their MLS systems. These real estate agents and brokers can be extremely accurate interpreters of real estate trends for their local area.

That isn't the topic that I wanted to cover.

What got me thinking was how long it would take until you can tell that the real estate market HAD hit its bottom. The line from the article stated that it would at least a couple of years afterwords that someone could honestly say that the bottom HAD come for the San Diego real estate market. How true.

Think about how long it takes (with the last 5 years removed) to show significant changes in the real estate prices. The trend for low rates of appreciation over time (1-2%) in housing could make very easy to interpret a bottom when only a specific segment of the market picked up. With two years of data, a person can hopefully eliminate market spikes and get a much broader picture of what the real estate market actually did.

So if you are hoping to know when the bottom is going to be, the earliest we can tell you is two years from now (if today is the bottom). If you want a crystal ball prediction, hmmm... That will cost you $10. No self repecting psychic would give out such valuable information for free:)!

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud, MN

JasonTangen.EdinaRealty.com - Search real estate in St Cloud, MN and surrounding areas.

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Getting Homes SOLD in St Cloud MN

Jason Tangen (Edina Realty) — Sun, 20 Apr 2008 09:21:49 -0500

I have looked back over all my old real estate files and in almost 5 years of real estate I have had two homes that I lost to other agents after I had them in contract to sell. Both of homes went to decent agents in the area, and neither home sold. Hmmm... I don't want to toot my own horn, but I am pretty impressed with myself.

Maybe I should try out a new slogan... "Not for Sale... SOLD."

Or maybe... "Jason, Jason, he's our man. If he can't sell it no one can."

With real estate sales, a lot of real estate agents will tell you how many homes they've sold in a given year. The true question is how many of the homes do they list to sell that do not sell?

When it comes to hiring a real estate agent, think about what it is that you truly want to achieve. Do you want to have pretty pictures of your home in the Home Times magazine, or would you rather have maximum exposure on the Internet? Do you want open houses or not? Do you want to stay where you are or do you want to move?

It doesn't matter who you hire to sell your home, just make sure that their marketing plan fits into what you want for your home. Nothing aggravates sellers more than expecting one thing and getting something completely different.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud

http://www.stcloudedina.com/ - Search homes for sale in St Cloud MN and surrounding areas.

JasonTangen.Point2Agent.com - More Advertising = More Results

Offer Negotiations 100 for Home Sellers (The Prerequisite for Negotiation 101)

Jason Tangen (Edina Realty) — Thu, 17 Apr 2008 07:55:45 -0500

Originally posted at www.stcloudedina.com/blog on 03/29/08:

I'm all for the Central Minnesota method of haggling. I think it comes from the fact that most of us are only a couple generations removed from the true hagglers and wheelers and dealers of the past: the farmers.

One of the biggest problems facing some of the sellers of real estate in St Cloud, MN is that they feel like they are being taken by the buyers in today's market. While it is true that your home is not selling for what it did two short years ago, you have to remember your true goal: selling your home.

Here are some tips to help sellers as they analyze offers coming in from potential buyers:

1) Try to take your heart out of the deal. The home that you will be leaving was perfect to raise your two kids back in the 80's, but it might not be perfect for the new couple raising kids in the 10's (that sounds funny). Only negotiate with market facts and up to date market values.

2) If you have a fish on the line, reel them in. You may or may not be having a second offer come in. Even real estate agents with the best of intentions cannot deliver the purchase agreements that they say they will bring tomorrow.

3) Take all offers seriously. This is tough when there is that one yahoo out there who wants to offer $90K on your brand new two story home worth at least $250K. Even though you want to just say go away (with some anger in it), it is best to just politely counter back at full price. Find out if they are interested in coming to the "dance floor" of negotiations. Who knows, they might just want to buy the house at full price.

4) Look at the bottom line, not the sales price. You might actually make more money at a lower sales price depending on what the buyers are asking you to pay.

5) If you decide to not take an offer, you are saying that you would rather stay in your home than sell it for that price. That could prove costly if you have somewhere else that you need to live.

I will hear a story about once a year that rehashes the philosophy that the first offer is always the best offer. In this case the sellers had an offer in the Spring of 2007 for $200,000. They wanted just a little bit more because their original listing agent priced them a tad too high and now they are feeling gypped. The sellers decide to counter offer back at $204,000 and the buyers decide to leave. The desire to feel like you are the winner in negotiations can make you the loser. Fast forward to the Spring of 2008. With no other offers and the market slowing down over the winter months the sellers price reductions to create activity now have them priced at $175,000. Here is where they get another offer. Disgusted but needing to sell, the sellers take the offer. Ouch.

Before you even look at the offer someone has written to purchase your home, take some time to look at your true goals. In most situations, selling the home is the most important goal. Making a specified amount of equity is usually lower on the list. From there, arm yourself with the market data you need to make the best decision for you.

Jason Tangen - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://www.jasontangen.com/ - Search Real Estate in St Cloud, MN and surrounding areas

http://www.jasontangen.point2agent.com/

Business Testimonial: Brenda Roettger at Tri-County Abstract in St Cloud, MN

Jason Tangen (Edina Realty) — Thu, 17 Apr 2008 07:48:45 -0500

Originally posted at www.stcloudedina.com/blog on 04/10/08:

had an issue the other day with one of the local builders not wanting to give lien waivers on their property. With how many builders are suffering right now and not making payments on work completed, I think that this is something more people need to take into serious consideration when purchasing a newly built home. More on that in a later post.

Thanks to an ill-cooperative builder, my home buyers had to change horses mid-stream and close on their new property at a different location than they had originally intended. Their original closing was to have taken place with a friend of the family at a different title company. Anyways, with only two business days left until closing, we changed title companies.

Brenda Roettger of Tri-County Abstract and Title Guaranty in downtown St Cloud, MN was the person tasked with finishing off the paperwork for my home buyers to close on time. Immediately upon hearing the news of the switch she contacted everyone involved in the transaction (myself, the buyers, seller, lender, and the other title company). With some quick moves, she tidied up all loose ends and we closed without any problems.

I have worked with Tri-County Abstract and Title Guaranty in the past and they always seem to do an outstanding job. From their title work for closings to the outstanding customer service they provide, they are definitely one of the top notch title companies in and around the St Cloud, MN area. To put a cherry on top of their heads, Tri-County Abstract and Guaranty is also an active member in the St Cloud Area Chamber of Commerce.

If you have any questions about Tri-County Abstract and Title Guaranty in St Cloud, MN visit their website at http://www.tricountyabstract.com/, or give them a call at (320) 253-2096.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://www.stcloudedina.com/ - Home of the e-Market Analysis (Free Home Value Estimator)

http://www.jasontangen.edinarealty.com/ - Search homes for sale and real estate in St Cloud MN

St Cloud Times is Finally Changing Website for Real Estate

Jason Tangen (Edina Realty) — Thu, 17 Apr 2008 07:37:40 -0500

Originally posted on www.stcloudedina.com/blog on 04/07/08:

I would like to publicly say congratulations to the St Cloud Times for finally correcting the mistake that was their old Home Times Website. I received a copy of a form letter this weekend regarding how the St Cloud Times will be abandoning its current real estate website and favoring a up to date, broker reciprocity website.

This new website should allow users to view all of the homes that are listed for sale on the St Cloud MLS. I haven't seen the new format yet, but anything is better than the inaccurate data source that they had in the past. It is so nice to see that the St Cloud Times has finally put the needs of its readers as a top priority.

If you are curious to see what the problem was with the old St Cloud Time Home Times Website, visit my prior post at: http://stcloudedina.com/blog/2007/11/searching_homes_for_sale_on_st_cloud_times_website.html

Look for the new St Cloud Times Home Times Website to launch sometime soon.

Once again, I can't say how much it impresses me that the St Cloud Times has finally stepped up and fixed their website concerning real estate for sale in St Cloud MN. Congratulations.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://http://www.stcloudedina.com/ - Search for open houses in St Cloud and Central Minnesota.

http://jasontangen.edinarealty.com/ - Search real estate in St Cloud MN and surrounding areas.

http://www.stcloudedina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Get Pre-Approved to Purchase Before you Look at Homes

Jason Tangen (Edina Realty) — Thu, 17 Apr 2008 07:34:47 -0500

Originally posted at www.stcloudedina.com/blog on 04/16/08:

I am seeing a lot of people who want to put the "carriage in front of the horse" recently. What I mean by this phrase is that there are many people who want to start looking at houses before the get pre-approved for a home purchase.

Getting pre-approved before you start looking at real estate is not only a good idea, it is something that most decent REALTORS mandate. Why? To be honest, we don't want to drive you all around town if a) you can't currently make a home purchase and/or b) we might be showing homes outside of your price range for a home purchase.

I can tell you that with the "credit crunch" making the whole real estate world topsy-turvy, there are a lot of good people that I could have gotten into homes a couple of years ago who can no longer purchase. Most of the time it comes with the fact that it seems the vast majority of first time home buyers haven't saved enough money to cover even the closing costs for their new home purchase. With most banks requiring 5% down for conventional loans and 3% down for FHA financing, this is just too much money for people who have none saved.

Don't get me wrong, I think one of the main reasons for the current state of the real estate market is that too many people have nothing at stake in their homes. It's not to hard to understand why a person is willing to walk away from a home if they have none of their own money invested in it. But if you make them have $10,000 or so at stake, all of a sudden they are willing to try a little harder to make their payments. This isn't the only player in the foreclosure world and current real estate market, but it is a good piece of the puzzle.

If you don't want to end up like so many others and potentially lose your home to foreclosure, buy one that you can afford. The best way to know what you can afford is to have a reputable lending institution give you a good pre-approval. If you don't have someone in mind, give me a call or e-mail and I will get you in touch with some of the great lenders in the St Cloud area. Do this before you contact a real estate professional to have them show you homes. You can even ask the lender if they have some good real estate agents that they have worked with in the past. Or better yet, ask them what they think about me:).

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://jasontangen.edinarealty.com/ - Search for open houses in St Cloud, MN and surrounding areas.

http://www.stcloudedinarealty.com/ - Home of the e-Market Analysis (Free home value estimator)

SaukRapids, MN Building/Housing Appeals Board

Jason Tangen (Edina Realty) — Thu, 17 Apr 2008 07:32:12 -0500

Originally posted at www.stcloudedina.com/blog on 04/16/08:

I am happy to say that on Monday, the mayor of Sauk Rapids (Mark Campbell) appointed me (Jason Tangen) to the Sauk Rapids Building/Housing Appeals Board. I look forward to serving with Art Buhs, Spencer Buerkle, Randy Klug, and Kurt Schimnich on this board in the near future.

Visit the following link if have questions about the Sauk Rapids Building/Housing Appeals Board.

I encourage everyone to help/volunteer with their local government and/or civic organizations. It is only what we do as individuals that make up our communities as a whole.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud

Is 0% down for a home purchase gone?

Jason Tangen (Edina Realty) — Sun, 06 Apr 2008 08:29:06 -0500

For those of you in the St Cloud area who were planning on purchasing a home with 0% down, your loan options are disappearing fast. It sounds like as of April 7th, 2008 Freddie Mac will follow Fannie Mae's lead in declaring the majority of the areas covered by the St Cloud MLS declining markets. This means that as a minimum for a conventional loan in these areas buyers will need 5% of the sales price. Gone are the 80/20 conventional loans that were so prevalent just last year.

So what does a home buyer with no money do?

How can you get into a home with 0% down?

The answer: Get creative.

I know the most common program being used today is theFederal Housing Administration's (FHA) loan with 6% seller paid closing costs and down payment. As long as the home appraises, a buyer can ask the seller to pay the minimum 3% required down payment and up to 3% in closing costs. I have seen about 12 local lenders in the St Cloud area utilizing this new product.

What does this mean to you as a buyer?

Answer: You are basically pulling out the equity on a home purchase (assuming that you purchase a home with some instant equity) to pay for your closing costs and down payment. This will make it so that it takes a few years before you can even think about re-selling a home. It's perfect if you plan on staying in the area for many years to come, but not if you aren't sure.

Numbers for reference:

List Price = $141,000

Offer = $150,000

Seller Pays = $9000 ($4500 for minimum 3% down, 3% for closing costs)

Effect = Seller gets $141,000 / Buyer mortgages $150,000

As long as the home appraises for at least $150,000 this deal works.

If you have heard of some other creative financing options, and you are afraid about their implications, post them here for everyone to see. If they are good, I would love to be able to tell my buyers about them.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud MN

Who is really paying the price for foreclosed properties?

Jason Tangen (Edina Realty) — Sat, 05 Apr 2008 10:36:07 -0500

With the way that the laws are currently written for real estate, I propose this thought for people to digest.

The only person who is truly hurt by a foreclosed property is the neighbor.

I don't want to sound mean or insensitive to the home owner who has just been thrown out of their homestead, but I don't think they have it the worst. With the current laws, the only damage to a person who has had a foreclosure in their past is a lower FICO score (credit score that can be cured in a very short period of time) and a little bit of public embarrassment. That's it.

As for the bank's losses, they have insurance to cover them to a certain extent in most foreclosure situations. Oops, I just found another person affected by foreclosures. The insurance companies that cover the bank's losses.

What we are left with is the neighbors who are faced with a depressed home in their neighborhood bringing down the local values. Most of these homes are stripped of anything of value (appliances, A/C, sometimes plumbing fixtures, lights, etc.) and left in a condition that only a mother could love. I've walked into properties that are available because of foreclosure and been amazed at how filthy a home can become in just a year or so. Brand new homes that appear to have 30 years worth of wear and tear.

Something to think about, what are your thoughts on this topic?

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud

http://www.stcloudedina.com/ - Home of the e-Market Analysis (Free Home Value Estimator)

Staging to Sell Your Home Basics

Jason Tangen (Edina Realty) — Sat, 29 Mar 2008 08:36:07 -0500

Originally posted at www.stcloudedina.com/blog on Sept. 23rd, 2007:

I thought that it might be helpful for home sellers to know some basic tips on how or what to do in staging your home for sale. Most of us have seen one of those "Sell My House" type of television shows that take a home and stage it for sale. Listed below are some of the most basic ideas that every seller needs to know when preparing to sell their home.

1) Clean up the exterior. Some of the greatest buys on the market aren't shown because the yard looks too horrible. If you've had some landscaping ideas, or if your lawn needs edging and a trim, do it! Your home's curb appeal is what invites a buyer inside and sparks their interest in buying.

2) The first 10 seconds mean everything. As you are preparing your home for sale, take the time to walk in the front door (where potential buyers will enter from) and take a hard look around. Take special notes of the smell, color scheme, cleanliness, and overall impression given. You want your entry to be inviting to a potential buyer. The more open and clean the better the impression.

3) Make the kitchen spectacular. The kitchen is arguably the most important room when preparing your home for sale. Besides sleeping, we tend to spend the majority of our time in the kitchen. First rule of thumb - make your kitchen as BIG in appearance as possible. You should only have a maximum of two items on your counter tops (neither should be a microwave or toaster). You must maximize your counter top square footage and also cabinetry if possible. Second - dress up your table. This is especially true if you are using some cheesy little card table to get by. A nice table cloth and some tasteful table settings can make all the difference. Above all your kitchen needs to be spotless from top to bottom. Think of it as a Marine Corps white glove inspection. Clean the inside and out of all appliances, sinks, counter tops, cupboards, and anything contained inside. You might even go so far as to organize all of your groceries inside the fridge and cabinetry.

4) Put those scrubbing bubbles to work in the bathroom. There is nothing worse than touring a house that has a dirty bathroom. Everyone, and I mean everyone, gets a little queezy when the bathroom either stinks, is grimey, or is in need of some repair. Redo the caulk around the shower, tub, and toilet. Clean out the grout if you have tile. Scrub the toilet both inside and out. Also, clean all of any plumbing fixtures that are present. If anything looks subpar, think about replacing it. Faucets are fairly inexpensive in the grand scheme of things.

5) Maximize the spaces. Try to not have over sized furniture in a small room. Some sectional couches are better served in storage while the selling process is taking place. Sure they are cozy, but they do your living room a huge disservice. Also, if you have some tough traffic areas where walking through is kind of tough, try moving around your furniture to maximize the space. Maybe you need to remove a chair, loveseat, or (he's going to say it) that huge T.V. set up that you have to free up a room's true potential.

6) Remove the clutter. In selling real estate, I am constantly telling everyone to remove the clutter throughout their home. The best way to look at it is like this - You're going to move, right? Then start packing now. Get some boxes and go from room to room. If there is something there that isn't a necessity, pack it up. Go to your bookshelves and remove 1/2 of everything on them. Go through your entire house and you will be suprised how much "stuff" you can pack in advance.

7) De-personalize your home. You have a beautiful family and have created a beautiful home together. Now that you have decided that you are going to sell your home it's time to start moving out. You don't want potential buyers envisioning your family in the family room watching T.V.; You want them to envision their family eating popcorn and watching their favorite movie in their new house. I recommend that all pictures of the family be taken down and replaced with something else (or maybe no picture is needed there at all).

8) Clean, Clean, CLEAN. Once again I will use the concept of a Marine Corps white glove inspection. Clean every place in the home like it has never been cleaned before. For some of you that are thinking about selling your homes, this won't be too much of a problem. For others, well let's just say you need a little help. Make the beds every morning. You never know when you might get a showing. Do the dishes as needed. I'm not saying to do the dishes when the sink gets full, more like clean them as you use them. Make sure your vents, window sills, walls, artwork... actually how about if we put it this way - make sure everything in your home is simply beyond clean.

9) If it's broken, FIX IT! If there is anything in the house that is in need of repair, now is the time to put those handyman skills of yours to work. Everything from the loose cabinet handle to the leaky faucet needs to be addressed. I know that you have been putting off these little projects for quite some time and they aren't a necessity to have finished. Just remember that potential buyers will find these little defects and judge how you maintain a home by them.

10) Paint it and replace it. Some of the greatest fixes that you can do to maximize the amount of money that you receive when your house sells are also the least expensive. A fresh coat of paint can do wonders to the look and feel of a home. Sure it takes a little time and you have to be patient and do your corners correctly, but it give you great benefits. Things to consider when picking out your paint colors: Lighter colors tend to brighten up a room and give it a larger feel. Bold colors can be very pleasing to your eye, but will they please the potential buyer? If your color palet is challenged (and you know who you are), seek help from a professional. As for the replace it part of this paragraph, your house will shine with new carpets. If your carpets aren't that old and are in decent shape you can just have them shampooed. If they are torn or tattered, get them replaced. You will recoup the cost of flooring in your main living spaces 99% of the time.

Do you have some questions, comments, or concerns about what I have proposed to you here? Post them here for answers and review. Selling real estate can be a much less stressful proposition if you have taken the time to make sure that your home is ready to be sold. If you would like some recommendations of local professionals in the St Cloud area that can stage your home, feel free to post here.

Jeanne Borgstrom of Works of Wonder (WOW) in St Cloud is also a member of the active|rain network. You can visit her blog at http://activerain.com/jeanneborgstrom.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

Increasing Real Estate Sales in Central Minnesota

Jason Tangen (Edina Realty) — Tue, 25 Mar 2008 22:35:42 -0500

With the end of the first quarter fast approaching, I am a little curious to find out how the numbers are going to stack up for real estate sales in '08 vs. '07. I've heard that the number crunchers nationally and statewide are seeing a 2% increase in residential sales over the same time frame last year.

My hunch is that we will see an increase in the total number of homes sold but a decrease in the average and median prices in the St Cloud market. My reasoning for this is the broken chain in home purchases that is caused by the increased number of foreclosed properties available on the St Cloud MLS.

As a region in whole, we are selling through the foreclosure inventory at a very good pace. The problem is that these distressed sales are generally of homes that are not in "Grade A" condition. Therefore, these home price averages will reflect these smaller values.

The positive turn on this topic is that in selling these foreclosures at a good pace, the end of this lull in the real estate market comes closer into view. I wouldn't be surprised if by early next year we don't see some appreciation in the real estate market once again (around Central Minnesota). It won't be anything like what we saw in the past five years, but 1-1.5% isn't out of the question (*Hint, if you are waiting for the bottom, it's probably coming if it isn't already here).

Be sure to keep an eye out for the Tangen Report which will come out in the St Cloud Area Chamber of Commerce's Chamber Pack in early May and will also be posted here by mid April. Every quarter I break down the sales statistics for each local region on the St Cloud MLS (West St Cloud, North St Cloud, East St Cloud, South St Cloud, Waite Park, Sartell, and Sauk Rapids). If you would like to see the past reports, click on the Tangen Report link on this website.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud

http://www.stcloudedina.com/ - Home of the e-Market Analysis (Free Home Value Estimator)

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN

Pulling Equity Out of Your Home

Jason Tangen (Edina Realty) — Tue, 25 Mar 2008 22:33:38 -0500

Originally posted at www.StCloudEdina.com/blog:

I have a lot of people ask me if it is ok to pull the equity out of their homes.

I tell everyone the same thing - Don't pull the equity out of your home unless you are going to do one of the following three things with it:

1) Buy another home.

2) Start a business. I know it's risky, but it is also part of the American Dream. If you think you have a good idea and you are willing to take the risk, go for it.

3) Invest in other opportunities that you are well versed (stocks, mutual funds, etc.). PLEASE NOTE - there are inherent risks in all forms of investing. I only recommend this one for people who are professionals or have professionals working on their behalf. The costs involved in these investments sometimes outweigh any monetary gain.

Did you notice what I didn't put on this list? Paying off credit cards. Why? Because it isn't worth it in my opinion. First off, budget yourself properly and you won't need to worry about credit card debt. Second, your equity in your homestead is safeguarded against many creditors. Everything on your credit card is free game. Say for example you cannot pay some unexpected medical expenses. Medical companies cannot put a lien against your property and take your equity in your house (see homestead law post). They can however take the other stuff.

Got some other reasons to pull your equity? I'd love to hear them. Post them here for everyone to review.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud MN

http://www.jasontangen.edinarealty.com/ - Search Open Houses in Minnesota

Edina Realty's New Lakeshore & Outdoors Property Search - 10,000 Lakes, Only 1 Place to Search Real Estate. Find all of your lake properties, hunting and recreational land, and more.

When is the "Great Time to Buy?"

Jason Tangen (Edina Realty) — Wed, 19 Mar 2008 22:44:32 -0500

Let's ponder this for a second.

2-3 years ago, all of the headlines in newspapers and on television told the general public it was a great time to buy. Interest rates were still historically low and properties were appreciating at a great pace.

Fast forward to today. Now all of the headlines in the newspapers and on television tell us about the horrible state of the real estate market. Home prices are depreciating and nothing is selling (according to the media).

Now I want you to decide when you would have preferred to purchase a home. Would you prefer to have bought when the home prices were inflated and the media was telling you it was great? Or would prefer to purchase a property when home prices are lower, interest rates are roughly the same, and the media is telling you that the real estate market is horrible?

Something to think about.

"When everyone else is walking, run. When everyone else is running, walk" - I can't find who said this first, but I know it wasn't me.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud

http://www.stcloudedina.com/ - Search Real Estate in and Around St Cloud MN

http://www.jasontangen.edinarealty.com/ - Search for Open Houses in and Around St Cloud MN

Offer 85% of the Asking Price?

Jason Tangen (Edina Realty) — Sat, 08 Mar 2008 18:48:00 -0600

Originally posted at www.stcloudedina.com/blog/ on 03/05/2008:

Is there a billboard (Franklin Outdoor Advertising or Lamar Advertising Company) somewhere near St Cloud MN that has this statistic printed on it? I have heard this exact number recently from at least 10 different home buyers that are thinking about writing an offers on foreclosed properties.

Below are the statistics. Nowhere in my research did I find that foreclosed properties are selling on average for 85% of their asking price.

*Please note that these are average numbers. Each real estate transaction is unique and a home's price needs to be evaluated on an individual basis to show what is (or isn't) a good deal.

Under 30 Days on Market: Foreclosed properties are being sold at an average of 98.3% of their original asking prices.

30-60 Days on Market: Foreclosed properties have had price reductions on average of just over 7%. Homes in this range are selling at 97.8% of their new asking prices (90.9% of original asking prices).

60-100 Days on Market: Foreclosed properties have had price reductions on average of just over 11%. Homes in this range are selling at 96.8% of their new asking prices (85.9% of original prices)

100+ Days on Market: Foreclosed properties on the market more than 100 days have had price reductions on average equaling more than 17% of their original list prices. These homes are selling at 93.4% of their new listing prices (which equates to 77.4% of the original list price).

So what can you take from these stats? If you offer 85% of the asking price on a foreclosed property that has been listed for more than 100 days and the bank counters back right in the middle, you are doing an OK job of negotiating. I'll give you a "C". You can also guesstimate that if you offer 85% on a foreclosed home that has been listed less than 60 days, the bank won't budge much from their asking price.

Want more information? Are you curious what the average sales price is for a new construction home in Sartell? Or how about what percentage of the homes sold on the St Cloud MLS are foreclosures? Post your questions here and I can pull you just about any stat from the St Cloud MLS.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty St Cloud

The 192,326th Best REALTOR in the US. - This is a joke. I have no way of knowing (or proving) where I would rank in a nationwide "Best REALTOR" contest. I know that I don't sell as many homes as some of the top producers in the country so I'm not #1. But I also know that my clients love my services. Funny enough, this stat would put me in the top 15% of REALTORS nationwide.

Aspiring Author Needs Our Help

Jason Tangen (Edina Realty) — Sat, 08 Mar 2008 18:46:04 -0600

I would love it if everyone could do me a big favor. My sister is an aspiring writer looking to get her first publishing deal. She has told me that it would help her chances if she could get a large number of people to visit her blog and post comments. With that being said, I would like to get her at least 100+ or so comments for her within the next month or less. Please take the time to help this "starving artist." She is what I would like to describe as the new age Andy Rooney with her random thoughts.

Jodi Bartley's blog is located at http://www.wrinklednotes.blogspot.com/

If you want to read my favorite post of hers read the one about the her walking through cement and trying to escape (if only in her mind). My personal thought is that it is going to be tough to cover up cement covered footprints leaving the scene of the crime. The link to this article is http://wrinklednotes.blogspot.com/2008/02/cement.html

Thank you for helping,

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud

Tangen Report - Real Estate Sales In and Around St Cloud, MN

Jason Tangen (Edina Realty) — Mon, 03 Mar 2008 15:54:09 -0600

I have just realized that I have not been inputting my Tangen Report on this blog. I usually add my quarterly reports to my full time blog (www.stcloudedina.com/blog/) and mail them out through the St Cloud Area Chamber of Commerce's "Chamber Pack" for people to view. To bring everyone up to speed, here is the last years worth of editions.

Tangen Report - 1st Quarter 2007

Tangen Report - 2nd Quarter 2007

Tangen Report - 3rd Quarter 2007

Tangen Report - 4th Quarter 2007

If you want to get specific sales data in a location near Central Minnesota, feel free to post your queries here and I will get answers/statistics for all to view.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud MN

http://www.stcloudedina.com/ - Search Real Estate in Minnesota

Business Testimonial St Cloud MN - Scott Anderson

Jason Tangen (Edina Realty) — Fri, 29 Feb 2008 23:34:48 -0600

Originally posted at www.stcloudedina.com/blog on December 19th, 2007:

I would like to thank Scott Anderson with Statewide Home Inspections of St Cloud MN for his outstanding customer service, loyalty, and knowledge.

I have done business with Scott for many years now and he consistently gives real estate consumers a wonderful and detailed home inspection at a fair price. Not only will Scott go over the home to look for problems, he also will give great advice on everything from general home maintenance to naming trusted local businesses for different tasks around the home.

Recently, I asked Scott if he still had on file an old home inspection for a potential home seller. This seller had purchased the home with a different agent and wanted to be able to offer to buyers the previous home inspection that was performed. Indeed Scott had the home inspection and we were able to offer it to potential buyers as they viewed the home. This came in very handy and my seller was happy to receive an offer within a month of listing the home for sale.

Another great attribute of Scott Anderson at Statewide Home Inspections is his willingness to come back to a property if the new home owners have a question. I've heard of him coming back to a property for anything from re-testing gas lines for leaks around a stove to checking for proper installation by the new owner of outlets on a wall. Now that's service.

If you'd like to know more about Scott Anderson and Statewide Property Inspections of St Cloud, MN - visit his website http://www.statewidepropertyinspections.com/.

Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty of St Cloud MN

http://www.stcloudedina.com/ - Home of the e-Market Analysis (Free Home Value Estimator)

www.StCloudEdina.com/blog - REAL ANSWERS for REAL ESTATE in St Cloud MN