buyers: How do I find the best house at the best price?
- 05/14/12 02:23 AM
Home buyers have some great advantages today that were not available to them a dozen or so years ago. With the advent of the internet and almost all active home listings visible to almost all house hunters, the search for the best home at the best advertised price is a snap. It's possible to spend a few minutes searching for and finding the best deal in town. Of course it's possible for everyone looking for a new home to do the same thing, and they all do the same thing.
Often these homes, apparent loss leaders, will receive multiple offers and … (4 comments)
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buyers: Buyers ask, "When should I buy?"
- 05/23/11 05:53 AM
There are a few fortunate folks who are able to buy a home today, but they're not convinced that this is the best time. Many of them are ready to declare independence from the dictator who is affectionately known to them as Mr. Landlord. They want a yard and another bedroom and a dog. They wish they had some control over what they can do to the place they call home. They might want to paint the walls colors that scream independence.
Other folks still have some equity in the home that they own, but it's lost a lot of value. … (0 comments)
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buyers: Apple Valley home sales are making buyers nervous
- 03/31/11 02:21 AM
Home buyers who have targeted Apple Valley, MN, have made a great choice. The city has grown at a controlled but moderate pace since its incorporation in 1968. It is well planned and located perfectly for commuting to the Twin Cities. Award winning schools add to Apple Valley's appeal, and home prices are reasonable.
Now the bad news for buyers. There have been a lot of homes sold in Apple Valley so far this year. According to Regional Multiple Listing Service of Minnesota, there are 295 homes actively listed for sale in Apple Valley today. In the first thirty days of … (0 comments)
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buyers: Black Friday lessons for spring home buyers
- 11/22/10 06:53 AM
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)
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buyers: Ninety shopping days until Christmas
- 09/26/10 05:04 AM
Yes, as of today, we're inside the three month marker. The retail Christmas shopping season will begin sometime between now and Halloween, depending on how much space individual stores have allocated to spooky stuff.
For consumers, the season is divided into two roughly equal halves. The first half is mostly dedicated to complaining about how early the season is being rushed on us. Some of us actually do a little shopping, but mostly we complain that the season seems to start earlier every year.
The second half starts on the day after Thanksgiving, any time after midnight. There will be a … (7 comments)
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buyers: Note to clients: Do as I say, not as I do
- 09/23/10 06:28 AM
There have been almost uncountable times when I have heard an inspector tell a buyer that the grading needs to be addressed or they could end up with a wet lower level. Over time, the ground around a house tends to repack itself, creating something not unlike a bowl with the house in the middle.
When we moved to our current home around eleven years ago and before the real estate business became my passion, I vaguely remember the inspector saying something about grading. Since then we have never had a problem with even the slightest hint of dampness. It's a … (3 comments)
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buyers: Parts of Dakota County eligible for zero down financing
- 09/13/10 03:29 AM
If you're looking to purchase a home and don't think you have enough cash to make it happen, there may be help available. There is a division of the Department of Agriculture called Rural Development which now has funds to provide loans at low interest rates with no down payment and no monthly mortgage insurance. There are some fairly liberal qualification requirements, but most of the folks who have contacted me can easily qualify.
Just because it's the Department of Agriculture, don't think you have to buy a farm. Most residences qualify for this easy to obtain financing. Most of the … (0 comments)
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buyers: The end of starter homes?
- 09/06/10 05:38 AM
In the days of fast value appreciation and easy credit, it was common for first time home buyers to take whatever they could afford and use their leverage to gain enough equity to move up in three or four years. Town houses were popular as they served the average couple's needs. They were good "starter homes" and were used as a bridge from renting to the higher priced, single family home that they would eventually need. Often, they were attractive two bed, two bath homes that nicely suited the young couple trying to get some social and economic traction. When, as … (4 comments)
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buyers: Buyers Broker Agreements and Minnesota Statutes
- 09/03/10 04:35 AM
Minnesota statute requires that I obtain a buyer's broker agreement before performing any acts as a buyer's representative. The agreement specifies the responsibilities of both the representative and the client. The agreement must include, along with the amount of compensation or commission, a clear statement explaining the services to be provided to the buyer by the broker.
An exclusive representation agreement binds me to advocate exclusively on behalf of my client. That means that, among other responsibilities, I must follow all my client's lawful instructions as they pertain to real estate. I must always act in my client's best interest. I … (2 comments)
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buyers: If there's another home buyer tax credit, it needs to be different
- 08/31/10 02:22 AM
There is rumor of another try at a tax credit for home buyers. While I feel that it should probably not go beyond talk, I really hope that any credit would be structured differently than the others. The previous credits were designed more to help the general economy than housing, and I feel that was where it shorted the housing industry.
The credit did little to help people buy homes, rather gave them a reward weeks or months after they bought. The reward went wherever they wanted to use it, but not as part of the down payment and seldom to … (0 comments)
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buyers: Are you a potential 2011 first time home buyer?
- 08/29/10 05:37 AM
The most important components of a good real estate buying experience are knowledge and good decision making. If you're thinking of buying when your lease ends in May (or whenever), there are some actions you should take well ahead of then, maybe even today.
First, sign up for a homebuyer education program. The best are sponsored by government or non-profit organizations and are free from annoying solicitation and advertising. Dakota County Community Development schedules classes monthly. Dakota County residents are charged $15 per household for the classes which usually run three nights. When you complete the course, you are awarded a … (0 comments)
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buyers: No Down Payment Loans Available Soon in Southern Dakota County
- 07/29/10 04:25 AM
It will soon be possible for homebuyers to again get zero down financing with the help of the USDA. H.R. 4899 will be signed into law by the President soon, and funding will again be available for rural development loans. This type of loan is available for real estate located in Southern Dakota and Scott Counties, as well as Rice County and others. There are some additional requirements that are explained on the USDA website.
Contact me for additional assistance and information. Call 612-916-3033.
… (0 comments)
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buyers: Supply and Demand
- 06/20/10 02:47 AM
A couple months ago, you could have bought a share of BP common stock for around $60. BP paid the highest dividend in the industry, and it was a very profitable company. Today, you can get a share for around half that price, and no dividend. Why is the stock on sale for half price? Of course, the reason is that everybody wanted to buy BP prior to the Gulf accident, and now everyone wants to sell it.
That's a little like real estate. There was no catastrophic accident, but, in April, everyone wanted to buy and get a tax credit. … (1 comments)
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buyers: Buyers benefit from the expired tax credit
- 05/17/10 09:32 AM
In the weeks prior to the April 30 tax credit deadline, competition among buyers to find that perfect home was often intense. Sellers enjoyed a steady stream of motivated buyers, all anxious to find a home to buy before the clock ran out. Well, the race is over, and the winners may be the folks who didn't manage to find a home before April 30. Maybe they were outbid, maybe they missed getting an offer in before another was accepted. How terribly unfortunate for them, maybe.
Now that the frenzy has subsided, there are still plenty of homes on the market … (2 comments)
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buyers: Buyers' Delight: Hard to Show Listings
- 05/16/10 05:29 AM
Last year, I wrote about the things that give my buyer clients an edge over some sellers. I listed overpricing, unusual paint colors, and the presence of clutter as three important components of a potentially good buy. It’s time to add a fourth element of a good buying opportunity: Hard to show.
What makes a home hard to show and a potential buying opportunity for my clients?
1. “Must have 24 hour notice to show.” Sometimes there is good reason for this. If you are trying to sell a ranch and need to make arrangements to get the horses out of … (0 comments)
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buyers: Renters: Mortgage interest on your apartment is deductible
- 05/05/10 05:11 AM
Most apartment buildings and other residential rentals have mortgages, and the interest on that loan is deductible for federal and most state income tax purposes. Isn't that wonderful? Well, it's wonderful for your landlord. The same guy who won't let you have a dog is enjoying tax benefits from your rent payments. Too bad you're not your own landlord.
Wait, maybe you can be your own landlord! It may be easier than you think, and I can help you. Call me today at 612-916-3033 to arrange a free, no obligation home buyer preliminary consultation and orientation. There's even a possibility of … (2 comments)
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buyers: Burnsville first time home buyer funding still available
- 04/13/10 08:47 AM
If you're a first time home buyer, almost, and need a little help, this could be a great opportunity.
According to the Dakota County Community Development Agency, there is still funding available for their downpayment and closing cost assistance program. There are a few qualification criteria, but they are not extremely prohibitive. For instance, maximum annual income for a one or two person household is $83,900, and more for larger families. This is an excellent way for a renter to move up to home ownership. Depending on your income and the price of the home purchase, as much as $10,000 may … (0 comments)
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buyers: Help still available for first time Lakeville home buyers
- 04/13/10 08:42 AM
According to the Dakota County Community Development Agency, there is still funding available for their downpayment and closing cost assistance program, making home ownership a possibility for more residents. There are a few broad qualification criteria, but they are not extremely prohibitive. For instance, maximum annual income for a one or two person household is $83,900, and more for larger families. This is an excellent way for a renter to move up to home ownership. Depending on your income and the price of the home purchase, as much as $10,000 may be available to you. For more information, contact Dakota County … (0 comments)
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buyers: Funding for Farmington first time home buyers still available
- 04/13/10 08:32 AM
According to the Dakota County Community Development Agency, there is still funding available for their downpayment and closing cost assistance program. There are a few qualification criteria, but they are not extremely prohibitive. For instance, maximum annual income for a one or two person household is $83,900, and more for larger families. This is an excellent way for a renter to move up to home ownership. Depending on your income and the price of the home purchase, as much as $10,000 may be available to you. For more information, contact Dakota County CDA.
For information on available homes, call me at … (0 comments)
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buyers: Are you really ready to buy a home?
- 01/31/10 03:13 AM
Recently I posted a blog concerning town house owners who bought 5 – 6 years ago with plans of moving up in a few years. That was, for decades, the home ownership progression of choice for millions of Americans. Problem is that it’s just about impossible for most of them to move up in today’s market of prices dropping faster than debt attrition. Many are outgrowing their homes as they start families and are physically and socially ready to move, but they are economically constrained. They can afford their payments and more, but they can’t afford the cost of selling with … (8 comments)
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Home buyers have some great advantages today that were not available to them a dozen or so years ago. With the advent of the internet and almost all active home listings visible to almost all house hunters, the search for the best home at the best advertised price is a snap. It's possible to spend a few minutes searching for and finding the best deal in town. Of course it's possible for everyone looking for a new home to do the same thing, and they all do the same thing.
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