mankato mn real estate general information: It's Almost Midnight, Folks!
- 10/09/09 09:35 PM
No, I don't mean the end of the world or the start of nuclear hostilities. I mean the end of the First Time Homebuyer Tax Credit, which is set to expire December 1 of this year. To have a realistic chance of closing in time, you need to get your home under contract (have a purchase agreement signed by both parties and in hand, that is) in the next week or so. Banks and the appraisers working for them are going to be so busy from now on, closing times will be hard to come by. If you aren't working with a … (2 comments)
mankato mn real estate general information: Who wants $8,000? Who wants it sooner than later??
- 05/05/09 11:16 AM
There is, indeed, an $8,000 tax credit waiting for all first-time homebuyers who buy their home between January 1st and December 1st of this year. So if you have never owned a home (or have not owned one in the last three years) you may qualify for this tax credit when tax time rolls around next year. Just what is a credit? As opposed to a deduction (which is a reduction in the amount of income which is taxed), a credit is an actual reduction in the amount of tax you pay. If you owe less in taxes than the credit … (0 comments)
mankato mn real estate general information: In the spring a young man's fancy lightly turns to thoughts of ... home buying!
- 04/15/09 03:58 AM
Spring is of course the time when more people begin looking for homes than any other, at least in Minnesota. Especially if you're a young man thinking of low interest rates, many affordable homes available, and $8,000 in pocket money when tax time comes next year! Oh, to be young again, and free! You do have to be a first-time home buyer to qualify for that eight grand, but still. Happily the government defined s first-time home buyer as a person who has not previously owned a home or a person who has not owned a home in the previous three … (0 comments)
mankato mn real estate general information: A word to the wise (Buyer):
- 04/09/09 09:10 AM
Realtors are professionals, and many of them have been around doing deals for many, many years. They probably have an idea of which lenders, inspectors, appraisers, and closers in the area are solid and which you might want to think twice about using. Take the time to get the advice of your Realtor when deciding about these things. At least get your Realtor's opinion while your getting the opinions of your friends, neighbors, relatives and everyone else. You may be glad you did. … (2 comments)
mankato mn real estate general information: Climbing Google with Karen
- 04/06/09 08:43 PM
I'm sure you know of Karen George, a delightful AR poster and SEO specialist. She wrote a couple of blog entries about tags for blogs. Here they are: Part one, and part two. These seem like very good ideas to me, but a question raised in one of the comments to these posts was never answered that I could see: is there some way to delete tags from the tags list here on activerain? I made the same mistake Karen did, and would like to edit down my list of tags... can I do so? Your replies are appreciated. By the … (10 comments)
mankato mn real estate general information: Rule of 100 for investors
- 04/01/09 05:09 AM
This was suggested by a real estate investor friend of mine. Using rental information, this is a quick way to evaluate whether a property is worth looking at any further. After checking out the idea while doing my own analysis of rental properties for myself and my clients, I found it to be pretty accurate. Here's what you do: take the amount of monthly rent the property brings in and multiply that by 100. If the price is at or below that number, you might want to take the time to look further into whether the property will cashflow or otherwise meet your investing … (0 comments)
mankato mn real estate general information: "Ladies and Gentlemen, the Rolling Stones." REOs, Mick, and you
- 03/31/09 07:47 AM
"When the Lord gets ready, you gotta move!" You might remember these lyrics from a song by Mississippi Fred McDowell. Or you might remember the way the Mick Jagger and company sang them. As memorable as that song is, if you're an Buyer looking at REOs, you might want to remember them as a reminder about what to do when good bank properties come onto the market. I just had a call from an investor to whom I've been automatically sending listings for new bank properties. He got this new REO listing notification yesterday, and called me just now to go see it. Well, … (1 comments)
mankato mn real estate general information: Tax Credit on the Way?
- 02/06/09 06:35 PM
Keep your fingers crossed; there may be a pretty decent tax break coming for home buyers. In their version of the new stimulus package, the Senate has included a tax break worth 10% of the price of the home they buy (up to $15,000) for all home buyers who will live in their home for two years. Get that bill through committee and onto Obama's desk! Jim Schellerwww.MankatoHomesOnline.com … (0 comments)
mankato mn real estate general information: Mortgage Town - a New Site, and a Handy One!
- 04/03/08 06:02 AM
If you're new to the world of home-buying, loans, and mortgages, there's a new site that's just for you: Mortgage Town. It has easy-to-understand descriptions of what happens during the loan process, how to protect yourself, what to watch for, and what to do after you close on your new home. In addition, there are lots of links to other resources. The folks at the National Consumer's League put this together, and they've done a thorough job. Check it out: http://www.mortgagetown.org/ Thanks for your attention, and don't forget to visit my site: www.MankatoHomesOnline.com! … (0 comments)
mankato mn real estate general information: $$$-in-Pocket Alert!
- 03/27/08 06:02 AM
DOLLARS-IN-POCKET ALERT! If you bought a house and you are paying PMI insurance, pay attention:New for 2007, the PMI insurance you paid may be tax deductible. For families with an adjusted gross income for the tax year 2007 of $100,000 or less, every last dollar you paid for your PMI insurance is deductible. Every one. For families with an adjusted gross income between $100,000 and $109,000, a reduced benefit is available to you. The average family will see about $350 more in their pocket if they take advantage. So take advantage!
(I'm not a tax guy, but if … (0 comments)
mankato mn real estate general information: On Commissions, or Why Less May Not be More
- 02/22/08 05:04 PM
The commission you pay a Realtor when he (or she) succeeds in selling your house does not only go to one person or one company. That commission is split between the seller's broker and the buyer's broker, who then pass on their due amounts to the respective agents involved. Traditionally, that commission is split 55/45 - 55% for the seller's broker and 45% for the buyer's broker. (Why the difference? The seller's side has more in the way of advertising and marketing costs.) So a 6% listing would be split this way: 3.3% for the selling side and 2.7% for the … (0 comments)
mankato mn real estate general information: Free Philanthropy! Give to the Charity of Your Choice - FREE!
- 01/16/08 03:55 PM
Donate to Your Favorite Charity - For Free!After considerable thought, I've decided to share the wealth. If you become my Buyer or Seller client after January 1st of this year, I will donate 10% of my net commission* to the charity of your choice - you pick! All you have to do is take advantage of my friendly expertise and come up with a non-profit charity which will accept my donation.** There are so many possibilities: think local, think national, think global. There are people in the Mankato area and all over the world who will appreciate your contribution, even if I get to write it … (0 comments)
Saint Peter, Minnesota A typical Gustavus coed first thing in the morning. Okay, it's actually Ecstasy by Maxfield Parrish (a personal favorite), but the real St. Peter merits your attention too. Saint Peter is situated on the Minnesota River just ten minutes north of Mankato and an hour south of the Twin Cities. In 1857 Saint Peter was slated to become the capitol of Minnesota because of its centralized location and river access, but the effort was undone by a bit of thievery, drinking, and card playing, and the capitol remained in Saint Paul. Over ten thousand people call Saint Peter … (0 comments)
mankato mn real estate general information: A Few Words about North Mankato, MN
- 01/03/08 02:21 PM
A classic Lower North home North Mankato North Mankato is comprised of two parts: Lower North, the oldest part of town and closest to the Minnesota River, and Upper North, which came about when the town began to expand upwards beyond the river valley walls. Lower North Mankato: old, wonderful neighborhoods, tree-lined streets, and a sense of self unique to the Mankato area. Lots of parks, a new library, and a staple of the summer season: the North Mankato Fun Days Parade! Upper North Mankato: Historically one new development after another with very little retail mixed in, Upper North continues … (0 comments)
mankato mn real estate general information: About Mankato, MN (a bit)
- 01/03/08 02:06 PM
Betsy's House * Mankato Mankato, Minnesota. Coming into town the first time on Third Ave., I didn't see Mankato's best side and came away with a rather poor first impression. Well, that changed for the better quickly. I had the great pleasure of interviewing dozens of Mankatoans at a B&N job fair at the Holiday Inn, and I met many fine people for the first time. Choosing that first staff was difficult because there were so many excellent candidates, and the problem persisted throughout my tenure as Manager: We always had more good people who wanted to work with us than we had … (0 comments)
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No, I don't mean the end of the world or the start of nuclear hostilities. I mean the end of the First Time Homebuyer Tax Credit, which is set to expire December 1 of this year.;)
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