Our national deficit and the general state of the economy - 11/29/10 03:58 PM
Today, President Obama called for a freeze on federal employees' pay.  The reason given is the deficit. Perhaps an austerity course is good for America, but the solution doesn't seem to address the problem. 
We have a deficit because tax revenue is down.  The cause of the decreased revenue is a slow economy.  Maybe I just don't understand stuff, but if I had a slow car, I wouldn't paint it.  I'd do something to speed it up.  We can cut spending, and we probably should do that.  We can increase tax rates by moving some stuff around and telling the citizens … (10 comments)

Minnesota corporate gatekeeper, Donald Nyrop has died - 11/28/10 11:29 AM
When I needed a job and found my way to Northwest Airlines in 1968, I soon learned of the notorious company president, Donald Nyrop.  He was feared and respected by everybody in the company who had the brains to fear and respect him.  He seemed to know more about most of us than we knew about ourselves. 
Nyrop was an old school corporate leader.  He existed for the corporation and to make the corporation eternally successful at any ethical cost.  His frugality within the company was legendary, from a corporate headquarters without windows or carpeting to restrooms with no doors on … (0 comments)

Thanksgiving, once a year for renters -- thirteen times a year for your landlord - 11/25/10 10:50 AM
As a nation, we set aside the fourth Thursday in November to recognize and give thanks for our good fortunes.  In varying degrees, we are thankful for our friends and families and their well-being, and we are thankful for our health, both physically and fiscally.  No matter how good or bad the last year has been we are thankful for some degree of peace and prosperity.  All this is part of our one day a year to reflect.
Some folks actually celebrate their thanksgiving more than a dozen times a year.  Landlords celebrate along with all of us on the nationally … (0 comments)

Burnsville renters, it's time for your landlord's annual review - 11/22/10 05:12 PM
According to city data, there are approximately eight thousand renter occupied homes in Burnsville. If you are one of those eight thousand folks currently helping someone else make a mortgage payment, why not consider giving him an annual review?
Here are a few questions about your landlord that you may want to ask. Actually, you probably know the answer to them, but keep score. Can you count on not having the rent raised in the next few years? Can you decorate any way you want? Can you deduct the property taxes and the interest on the mortgage payment you are making … (0 comments)

Apple Valley renters -- 2,000 chances to fire your landlord - 11/22/10 04:34 PM
According to city data, there are approximately two thousand renter occupied homes in Apple Valley.  If you are one of those two thousand folks currently helping someone else make a mortgage payment, why not consider giving him an annual review? 
Here are a few questions about your landlord that you may want to ask.  Actually, you probably know the answer to them, but keep score.  Can you count on not having the rent raised in the next few years?  Can you decorate any way you want?  Can you deduct the property taxes and the interest on the mortgage payment you are … (0 comments)

Black Friday lessons for spring home buyers - 11/22/10 02:53 PM
The retailers' favorite day is this week, Black Friday.  Although there are some really good blowout prices on a few items, retailers are not excited because they are almost giving away merchandise.  The millions of shoppers on the day after Thanksgiving will mostly buy at or close to normal retail price, and they will buy lots of stuff.  Some of the more sought after gift items will be strategically sold out, with a generously offered rain check to bring you back another day -- and you will be back. 
A few folks, like the couple in Tampa who have already been … (1 comments)

Why do I have to pay earnest money when making an offer on a home? - 11/18/10 10:32 AM
Home buyers often question the reason for earnest money when making an offer on a home.  Sometimes they feel as if they are paying the seller to look at their offer.  They also often want the earnest money to be the least amount necessary.
During our initial orientation, earnest money is one of our covered topics.  The purpose of earnest money is, as it sounds, to demonstrate seriousness and commitment on the buyer's part to actually purchasing the home.  There are a couple of reasons why that demonstration is necessary.
First, the seller will evaluate your offer on several bases.  Is … (0 comments)

Wanna buy a foreclosure? A dozen things you need to know - 11/13/10 12:33 PM
If you are thinking about buying a new home, some of the most attractive properties and prices that you come across in your internet searches will be property that has been reposessed by the lender.  Foreclosed homes come in all sorts and sizes, and they carry risks and rewards that all homebuyers should understand when house hunting. 
Here is my list of a dozen things that make foreclosed property different from homes currently owned by real people.  While I feel that all are important, while actually touring homes, none will come close to the immediate impact of not remembering number twelve.
… (6 comments)

Government and lenders have succeeded in keeping people in their homes - 11/09/10 01:35 PM
The housing market is comprised primarily first time home buyers and investors.  Move up buyers and relocation buyers make up a shrinking portion of the pool of buyers, and the trend will continue unless there are some changes in lending practices and products.
Mobility among potential move-up buyers is almost non-existent.  About a quarter of homeowners owe more than the current value of their homes.  Some are facing economic challenges that will cause them to cease being homeowners.  Some have decent incomes and a desire to change to another home.  They can't move because the cost of selling added to the … (4 comments)

One more annual battery replacement after the smoke and CO alarms - 11/07/10 01:03 PM
The time change that gave us an extra hour of sleep this morning is a good time to make battery replacements.  We are reminded about the alarms, and this is a great time to replace the batteries that keep them operating.
One battery replacement that is less publicized is the battery in your thermostat.  If you live in a northern state, cabin fever is likely to strike sometime between now and next May.  Many of us will leave our homes for a few days, weeks, or months, to get away from the cold and ice.  Most of us will return to … (3 comments)

Burnsville renters, plan on breaking up with your wonderful landlord next spring? - 11/07/10 12:28 PM
There's nothing wrong with renting if you love your landlord and enjoy being treated like a child.  Well, nothing but the lack of privacy and that obnoxious other tenant who can't seem to keep the noise down and loves the odor of burning grease.  The rent's probably going up next year, but you're saving money on dog food since you can't have a dog.
If you're renting and running out of patience, now is the time to start preparing for a spring move.  Most leases end in either May or June, and you need to indicate your intention to renew 30 … (1 comments)

Northfield renters, now is the time to plan a spring home purchase - 11/07/10 12:23 PM
There's nothing wrong with renting if you love your landlord and enjoy being treated like a child.  Well, nothing but the lack of privacy and that obnoxious other tenant who can't seem to keep the noise down and loves the odor of burning grease.  The rent's probably going up next year, but you're saving money on dog food since you can't have a dog.
If you're renting and running out of patience, now is the time to start preparing for a spring move.  Most leases end in either May or June, and you need to indicate your intention to renew 30 … (0 comments)

Eagan renters, now is the time to plan for a spring home purchase - 11/07/10 12:09 PM
If you're renting and running out of patience, now is the time to start preparing for a spring move.  Most leases end in either May or June, and you need to indicate your intention to renew 30 - 60 days before their end date.  Just like Christmas shopping, most buyers put off shopping for a new home until it's too late to thoroughly research the market and develop a well-planned buying strategy.  Don't wait until the tulips pop up before starting the preliminaries. 
You can get a few things out of the way right now.  It's not too early to find … (1 comments)

Today is the first day of the rest of your credit - 11/07/10 11:44 AM
Although some "credit repair artists" claim differently, you can't change history.  If your credit report has no errors, and it says you have had issues in the past, there is nothing that will change it.  That leaves two things you have the power to fix, present and future.
If you are behind on a bill or two, fix it.  Pay the bills current.  If that means you have to make a few temporary life style changes, fix it anyway.  If you need a new car because the old one is broken, fix it.  It's cheaper to fix the old one than … (2 comments)

Surprise!!! - 11/05/10 12:53 PM
In the aftermath of the recent election, there have been a couple revelations that worry me a little.  Specifically, I'm referring to President Obama's statement that the election was a wake-up call to him, that the American people are concerned with jobs and the economy. 
I'm wondering what President Obama thought concerned us on the day before the election.  Did he really think our greatest concerns were our desire for higher health insurance prices?  Did he think America wanted a declaration of war against American business?  Calling the election a wake-up call may be the "Mission accomplished" of the Obama … (1 comments)

Fifty years ago today in politics - 11/04/10 12:58 PM
On November 4, 1960, just four days before the election, Mayor Richard J. Daley orchestrated an event for John Kennedy.  There was a torchlight parade down Madison Street to the Chicago Staduim where thirty thousand supporters attended a rally.  There were over a hundred entertainers including Vic Damone who sang the campaign song, High Hopes which had been recorded by Frank Sinatra.  Daley purchased a half hour of prime time national network time which proved to be a little less than needed for Kennedy's entire speech.  Among others, the campaign promises of JFK included a pledge to raise the minimum wage … (0 comments)

The 2010 election is behind us -- time to take back the airwaves - 11/03/10 01:36 PM
We have passed beyond another election day, and except for Minnesota, the votes are counted and contests decided.  I looks like Minnesota will have a new governor sometime after the super bowl is decided.  What's new?
The good news is that we can now settle down in front of the tube without being subjected to horror flicks with a boogieman voice-over telling us how bad the other guy is.  Now we can enjoy commercial breaks that try to sell us something we may actually need, like beer or a new car.
It appears that the Party of No, the Obstruction Party … (5 comments)

Housing depression and possible escape routes - 11/02/10 11:50 AM
Notwithstanding the hopes and distorted views of available data by those in denial, the housing depression continues.  We can cite data that tells us that a single month was better than the month before, or proclamations from various improved micro-markets.  The fact still remains that the market remains largely stagnant.
What's being done right now and is it effective?  Mortgage rates are being held low as a result of federal policies.  People in the process of losing their homes are given help to either delay or, in rare instances, actually stop the progress toward foreclosure.  There are some incentives to lenders … (4 comments)