The RIGHT WAY to Solve the Mortgage Crisis - 09/29/08 12:46 PM
Many of you can remember Enron, WorldCom, Adelphia, and other companies had artificially put assets on the books. Because of it, the Sarbanes-Oxley law required mark-to-market accounting and prevent these companies from having loaded balance sheets.
This is all well and good except for the sub prime mortgage market. Merrill Lynch was sitting with $30 billion tied up in sub-prime loans with houses. Those houses didn't become worthless all of a sudden because those people couldn't sell their bonds. Since they couldn't sell them, they basically gave them away for 22 cents on the dollar. That doesn't mean the homes lost 78% … (0 comments)

Carbon Monoxide Alarms Required for All Single Family Homes - 09/23/08 02:47 PM
Effective August 1, 2008, all single family homes in Minnesota must have an operational carbon monoxide alarm within 10 feet of all sleeping areas. This requirement was previously for only new single family homes, but not includes all existing homes.
Buyers and sellers should be aware that this requirement should be met by the sellers before transferring the property.  If the seller fails to provide the alarms, the buyer will be responsible to have them installed at their expense.
For the complete statute, click here.
www.LarryKaduce.com
… (0 comments)

City of Mankato Rental Density Changes - 09/23/08 11:49 AM
Letter from City of Mankato … (0 comments)

Distressed Sales Offer Opportunities for Buyers - 09/23/08 11:45 AM
You can't always judge a home buying opportunity by its cover. Distressed properties, those with owners whose mortgages are higher than the value of the house or who are being foreclosed upon, may not be pretty, but they could be just right for the right buyer, advises the REALTOR® Association of Southern Minnesota.
As many as four out of 10 home sales today involve distressed properties, according to figures from the National Association of Realtors®. The term distressed can mean homes that are in some stage of the foreclosure process. It can also refer to short sales, where the home is … (0 comments)

North Mankato policy on Foreclosure I & I Statements - 09/23/08 11:31 AM
Foreclosed Properties
With foreclosed homes being more prevalent in the market today, the City of North Mankato has run into a situation with the Disclosure Statements. The foreclosure companies, such as Fannie Mae, are refusing to sign as the Seller on the I & I form.
In cases where the foreclosure company refuses to sign the I & I form, the City will accept the form without their signature; however, we ask that the listing agent note on the form that the property is a foreclosure. This situation does NOT make the Buyer exempt from signing BOTH the I & I … (0 comments)

 
Larry Kaduce - Broker/Owner, Mankato MN (RE/MAX Dynamic Agents)

Larry Kaduce - Broker/Owner, Mankato MN

Mankato, MN

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RE/MAX Dynamic Agents

Address: 1720 Adams Street, Suite 100, Mankato, MN, 56001

Office Phone: (507) 385-2127

Cell Phone: (507) 351-6292

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