buying a first home: Rent VS Buy in 2019? High Rent Plus Few Houses Creates Dilemma
- 06/03/19 09:35 AM
Living in Minnesota is not as affordable as it once was. Home prices are continually increasing in the Minneapolis/St Paul metro. And to make things more stressful, rent costs in the Twin Cities are among the highest in the nation. Monthly rent costs for one and two bedroom units are nearly $1500 and $2000 respectively. Check out this June 2019 report on rent prices nationwide.
This leads many renters to ask, “Should I Buy instead of Rent?” It is a continuing dilemma facing many would be first time homebuyers. It also creates a lot of discussion and sometimes debate. So … (0 comments)
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buying a first home: Blaine MN | Millennials Flock to Low Down Payment Programs
- 10/19/17 05:50 PM
Blaine MN | Millennials Flock to Low Down Payment Programs We are fortunate in Minnesota and the Twin Cities to have a number of down payment resources available to first time homebuyers. In particular, buyers considering the Blaine 55449 zip code can find programs in not only the State of Minnesota but throughout Anoka County too. In other areas of Minneapolis/St Paul there are similar opportunities.
Wondering if there are funds available for you? Find out now using this tool to check for down payment funds available for your situation. Not a millennial? No problem. This tool is for all … (2 comments)
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buying a first home: First Time Home Buyers Essentials--What is Agency?
- 02/02/17 06:23 PM
Planning on buying a home in 2017? My guess is you are searching online and not with a REALTOR®. Potential first time home buyers have a plethora of websites available to search for their dream home and when they find it, they want to see it immediately. But WAIT! Before you grab your phone or tap that link to set up a showing, you need to understand AGENCY.
Agency is the type of relationship a home buyer creates when they work with a real estate agent. In Minnesota, there are different types of relationships available to home buyers … (3 comments)
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buying a first home: When the First Time Buyer is Your First Born it's Back to Basics
- 03/03/16 06:25 AM
Buying a first house is difficult whether you’re in your mid-20’s or mid-30’s or really at any age. Over the years I have assisted people making this first big purchase in every age group from 18 on up. No matter the age, there are things that must be considered to be a successful homeowner. Buying a home should not be on a whim but a thought out plan. I always let a buyer make their own final decision but I do offer helpful advice throughout the home buying process.
My kids have grown up watching my educational sales process. Often I … (30 comments)
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buying a first home: Taking the FIRST Step can be Hard!
- 10/08/15 06:22 AM
Taking a first step is hard. No matter what you are attempting: Learning to ride a bike; Learning to swim; Learning to drive a car; Learning a foreign language. Even setting up an extensive vacation can be a challenge with hotel reservations, airline tickets, passports, car rentals etc. A while back, I had a REALTOR® friend ask me how to blog. I gave her quick rundown on how to get going fast, but her response gave me pause. Where can I take a class? Is there a book? Last I heard, she was heading to the library and months later, still … (8 comments)
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buying a first home: Seller Paid Closing Costs Are Not FREE MONEY!
- 07/15/15 12:51 PM
It is a very exciting day! You've just met with your loan officer and are pre-approved for your first home loan. You are ready to start shopping! You are certain you have enough money in the bank for your down payment. After all, your loan officer said, the seller will pay your closing costs, so you're covered right?
Well, not so fast! It's not like sellers are handing out free money. So what's real story?
When a home buyer writes up an offer for a home, they can ASK the seller to pay closing costs up to a certain … (8 comments)
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buying a first home: Do I really NEED a REALTOR when I buy my 1st Home?
- 05/07/15 05:44 AM
Buying a first home is a very exciting time in a person's life. Whether you are coming from an apartment or a basement bedroom in your parent's house. the idea of venturing into owning real estate for the first time is quite an undertaking. With all the online shopping tool and real estate sites, a homebuyer can virtually tour many homes and even be pre-approved for a mortgage without setting foot outside your current residence. Many home buyers might question why a REALTOR® would even be required at all. Of course this course of action could work for you until … (10 comments)
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buying a first home: Down Payment Assistance in Ramsey County for YOUR 1st Home!
- 01/26/15 03:47 AM
Considering purchasing a first home in Ramsey County in 2015? There are many opportunities to explore before you write your offer. First time home buyers in Ramsey County have a number of amazing, often overlooked programs available to them. There are specific qualifying guidelines so it is essential to find a loan officer or mortgage broker that is well versed in the details to take advantage of these unique opportunities.
First Step In Buying a Home: Get Preapproved! For most Minnesota first time buyers the first step is, where do I start? Your very first step towards buying your first home is … (0 comments)
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buying a first home: Home Buying Tip of the Day--How Much Earnest Money Do I Need?
- 05/19/14 07:15 AM
Writing an offer on a home is an exciting time whether it is a first time buyer or someone who has purchased a home previously. Going through the offer raises many questions, one of the most important is about earnest money and how much should be written into the offer. So what exactly is earnest money and how much does a homebuyer need?
Today’s Real Estate Term is:
Earnest money The funds that a buyer submits with their offer or purchase agreement to demonstrate to the seller their seriousness about buying the property. It should be an amount sufficient … (1 comments)
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buying a first home: This REALTOR Welcomes Helicopter Parents!
- 03/11/14 06:37 AM
“I was accused of being a helicopter parent.” This statement was recently made by a friend of mine while we were chatting at a local coffee shop about our adult children.
My response to her was, “Really? Did you say thank you?”
Being a helicopter parent doesn’t always have to be a bad thing. It means you care about your children enough to give them advice rather than let them go off on their own and make mistakes. Okay, it’s not a good thing to ride with them on the school bus, follow them into the classroom and do their homework. … (8 comments)
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buying a first home: Buying a First Home? Define YOUR Dream!
- 10/11/13 07:02 AM
Minnesotans are fortunate to live in an area where housing is affordable. Couple that with the low interest rates and first time buyers who live in the Minneapolis/St Paul metro have opportunities to buy that aren't available in other parts of the US.
However affordable, buying a first home can be quite intimidating. Understanding the difference between a lender mediated short sale, a bank-owned foreclosure and traditional sale is essential. The Twin Cities market still has some distressed homes in the market but there are abundantly more traditional and new construction sellers too. From Forest Lake to Blaine to Hugo … (1 comments)
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buying a first home: What Ebay can Teach a Home Buyer about Multiple Offers
- 05/06/13 10:23 AM
I’ll have to admit, I can get a rush when buying things from an Ebay auction. After putting in a bid on something I cannot live without, it is exciting to watch the second count down to the end of the bidding. I don’t always win. In fact, it can be frustrating; I’ll throw in a good solid bid, only to be outbid in the final seconds. But I have watched and learned. In fact, I have now snatched an item or two from other buyers just a moment before the end of the auction too.
There are some important … (19 comments)
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buying a first home: Real Estate Word of the Day is Appraisal
- 04/27/13 09:38 AM
First Time Homebuyer Real Estate Word is Appraisal
On a rerun of the TV game show, Cash Cab, a carload of New Yorkers were stumped when asked to define the acronym, FSBO. This is a term often used in real estate to describe people who sell their home without an agent or "For Sale By Owner". As a REALTOR® I was a bit surprised they couldn't come up with the correct answer but then I remembered of all the times a look of confusion came over a buyer’s face when I mentioned escrow funds and earnest money. These terms sound … (1 comments)
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buying a first home: Which Comes First, the REALTOR or the Loan Officer?
- 04/23/13 07:41 AM
It is often debated, the philosophical question, “which came first, the chicken or the egg?” There are many ways to address that question. (Though my preferred way is to show a lolcat photo of a cat in a chicken hat and avoid the discussion all together.) But really there is no definitive answer.
When buying a house, there is a much less philosophical but equally confusing dilemma, "Which comes first, the loan officer or the REALTOR®?" Both professionals are equally important in purchasing a home but who should a home buyer contact first?
As a REALTOR® I would prefer … (45 comments)
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buying a first home: What’s YOUR House Style?
- 01/27/13 05:02 AM
One of the most difficult things for some home buyers to decide is what style of home they want to buy. Sure you’ve got the three bedrooms, two and a half bath and 2 stall attached garage down but architectural style isn’t always something a buyer thinks about until after seeing a home or two. Looking at listings on the internet, a home buyer is able to view the images of many types of homes. Some will have descriptions like, ranch, contemporary or bungalow. But many buyers have know idea of what these styles are...heck, some real estate … (3 comments)
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buying a first home: Going, Going, Gone! Starter Homes Sell Quick!
- 09/17/12 07:41 AM
It seems a bit unbelievable to some homebuyers. After a few years of hearing about a real estate market where buyers were in the driver’s seat now buyers are hearing, "Sorry, that home is SOLD!" That is the very market we are now in folks! There are still homes being listed every day. But with these phenomenally low interest rates (Did you ever think a 15 year mortgage would be UNDER 3%?!), there are many more homebuyers off of the fence and in the market. If you are a first time homebuyer and looking for a home in the $100K-150K range, … (4 comments)
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buying a first home: First Time Homebuyer’s Word of the Day is Earnest Money
- 09/06/12 12:48 PM
In an episode of Cash Cab, a television quiz show that takes place in the back seat of a New York City taxicab, a family was stumped by the acronym, FSBO. This is a often term used in real estate to describe a person selling their home by owner (For Sale By Owner). As a REALTOR® I was a bit surprised that such a simple term I use everyday would be unknown to so many. But then it got me thinking of all the times a glazed look came over a buyer’s eyes when I talked about escrow or earnest money. … (1 comments)
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buying a first home: First Time Homebuyer’s Real Estate Word of the Day is Earnest Money
- 07/27/12 06:17 AM
It may be hard to believe that the acronym FSBO could stump a game show contestant. But in an episode of the Emmy award winning television show, Cash Cab, a taxi full of New Yorkers couldn't come up with the answer. FSBO is a often term often used in the real estate world to describe a person selling their home by owner (For Sale By Owner). As a REALTOR® I was surprised that such a simple term I use everyday would be unknown to so many. But then it got me thinking of all the times a glazed look came over … (3 comments)
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buying a first home: USDA Rural Financing! Finance with ZERO DOWN in Chisago County!
- 07/23/12 07:04 AM
And just because the financing is rural, it doesn't mean you will have to buy a farm either! It's still the American Dream to own a home. With prices very affordable and interest rates are extremely attractive, now is a great time to purchase a first home! But not every potential homebuyer has sufficient funds for a downpayment and closing costs. So what are the options in the northeast Twin Cities Metro? USDA rural financing! Most loan officers will tell you that a conventional mortgage can require 5, 10 or 20% for a down payment. Even government backed FHA loans will … (2 comments)
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buying a first home: Smart First Time HOME Buyer's New Year's Resolution for 2012: Resolve to Save!
- 12/29/11 09:59 AM
In a few days we will all be turning the calendar page and entering 2012. After the champagne corks pop and the big ball drops in Times Square, it will be time for resolutions. If you want to be a first time home buyer in 2012 maybe it is time to set a financial resolution or goal. If despite all the gloom, doom of the foreclosures during the past several years you still plan to own a homeowner one day soon, it's time to start saving!
Those dreaming of buying a first home are in very good company. According to … (3 comments)
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