buying a home: Is Buying a Twin Cities Home a Good Investment in 2015?
- 01/11/15 11:11 AM
Owning a home is still the American Dream. But is buying a home in the Minneapolis/St Paul metro area a good investment in 2015? According to Forbes.com it is!
Forbes just released the list of the top 20 cities of where investors should buy housing in 2015. Minneapolis/St. Paul/Bloomington came in at #17. These are all cities with strong population and job growth and relatively affordable home prices. According to Forbes research, Twin Cities market is currently undervalued by about 7% and has a good rental value.
So if buying is good for an investor, is it also good for … (3 comments)
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buying a home: That's a GREAT Question for a HOME Inspector!
- 07/14/14 06:46 AM
I like helping buyers find the homes of their dreams. Not all homes are perfect and some do have issues. Some issues are very obvious. Last week I showed a home with a front step where the sidewalk had settled nearly three inches on one corner of the slab. I pointed it out to my buyers. When they asked if it could be repaired or if it was a problem, I answered, "That's a great question for an inspector."
Sometimes buyers see things I have never seen before. Yesterday I was showing a 1950's ranch home. The windows opened with a … (1 comments)
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buying a home: Overcome REALTOR Phobia--Tips for Interviewing a Real Estate Agents
- 05/21/14 06:37 AM
I’ll admit it. From time to time I have had trust issues when I first meet a salesperson. Perhaps I have been burned one too many times when an overzealous salesman makes a promise and doesn't deliver. Maybe it is because I have read too many “scripts” in my own sales career that I am have become cynical to the process. Of course there are good products and sometimes the sales pitch is as genuine as is the person delivering it. But it's tiresome weeding out the good from the bad. I don’t think I am alone feeling this way. As … (2 comments)
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buying a home: Is Buying a Home a Good Investment in 2014?
- 01/24/14 04:22 AM
“How good of an investment is a home in 2014?" This question can be a tough one to answer in this slowly stabilizing economy. A couple of decades ago, the answer was a no-brainer. Buying a home had been regarded one of the safest and most important investments a person could make. Owning a home was equated to realizing the American Dream. But now first time buyers can be confused even as home values and average sales prices have rebounded. Many potential homebuyers continue to wonder, "Is home ownership a solid financial investment?
The National Association of Home Builders posed … (2 comments)
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buying a home: Top Features in an AWESOME Man-Cave!
- 07/30/13 02:54 AM
So it’s time to move and your husband is insisting the neon bar light he acquired in college shouldn’t go into the trash. He is certain it will be the perfect addition to the downstairs family room—along half a dozen framed jerseys from various sports teams. And then there is that unique pseudo Adirondack chair made every hockey stick he has ever owned. You’re just not crazy about a purple, green or red wall in any part of your new home even if they are his favorite team colors. Before there's an all out battle, maybe it’s time to consider … (7 comments)
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buying a home: Wordless Wednesday (Almost)--Welcome Fall!
- 09/22/10 02:51 AM
Fall is one of the most perfect times of year. Cool crisp breezes. Bright blue skies. Warm afternoon sunshine. It is a wonderful time for a drive to see the show of colors mother nature offers just once every year before a blanket of winter white hits us full blast. The changing leaves remind us summer is over but there is still time to move this year before the snow flies.
… (16 comments)
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buying a home: Love at First Sight Hits Home Buyers Too!
- 02/14/10 02:22 AM
Do you believe in love at first sight? I do! Decades ago as a handsome young blue-eyed man walked through the door of a neighborhood restaurant, his eyes connected with the sparkling eyes of a young girl. In that instant, their lives changed. It was years before they married and there were many ups and downs during that time. But they are still together and in love today. I should know, as the star-struck green-eyed girl was me. Funny thing is that when I see that tell-tale star struck look these days, it is when my buyers fall in love with … (16 comments)
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buying a home: Homes, Homes Everywhere! How Many Should a Homebuyer SEE?
- 01/08/10 12:21 AM
Home buyers often set themselves up for a stressful situation: Too loose of criteria equaling too many homes to see. With foreclosures, short sales and traditional sellers with houses on the market, there are hundreds of homes on the proverbial real estate shelves! As a REALTOR® in the Twin Cities north metro (Forest Lake, Ham Lake, Blaine and Lino Lakes areas), I have had a number of overwhelmed potential buyers approach me with some very loose home selection criteria. Our first conversation might sound a little like this: "Teri, I am willing to go anywhere for a single family home … (59 comments)
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buying a home: Expanded Tax Credit Will Make Moving in a MN Winter Worth the Effort!
- 11/08/09 02:45 AM
Everyone knows that S word associated with a Minnesota Winter: SNOW! The dreaded elements of the season that scare many "sunshine and warmth" lovers out of our great state do present problems when it comes to moving and selling a home. But this year if you wait until spring, you could lose out big time. The expanded and extended tax credit for homebuyers will expire in April 2010 just as the warm winds of spring make a comeback. If you are considering a move in the next 6-12 months, listing your home now could definitely be to your advantage. Here are … (7 comments)
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buying a home: May 2009 Video Update—Answer to the Big Housing Market Question....In or Out of the Woods?
- 05/26/09 01:21 AM
It appears that the Twin Cities housing market is continuing to move forward to recovery as we head into the summer. According to the Minneapolis Realtors Association's May Monthly Skinny, there continue to be positive signs that we are moving out of the woods. Inventory did not inflate this spring as it usually does when the snow melts so the housing inventory levels that have been extremely high are starting to level off and come down. A major share of the homes, sold 46%, continue to be lender-owned or lender-mediated sales. These homes are selling at 21% less than in 2008 … (8 comments)
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buying a home: Attention St Paul’s East Side Homebuyers: Details on the Pohlad Family Foundation Homebuyer Program
- 05/20/09 02:09 AM
The Homebuyer Assistance Incentive Program from the Pohlad Family Giving Foundation is the program that everyone is talking about on the east side of St Paul! It is a great program for homebuyers looking to buy in St. Paul’s 55106 zip code and available through the Pohlad Family Giving Foundation. I am currently working with several buyers who are interested in this program and boy are the homes selling quickly in these communities! Every other listing agent makes a point of reminding me about the "$8000 Pohlad money" for the buyer, as if we had not heard of the program. But … (7 comments)
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buying a home: April 2009 Video Update--Three Indicators is the Charm! Postive News in the Housing Market!
- 04/17/09 02:00 PM
Even though the economy has not recovered, the Minneapolis/St. Paul housing market appears to be making babysteps forward to recovery in Spring 2009. According to the Minneapolis Realtors Association's Monthly Skinny, there are three positive statistics (houses available per buyer, days on the market and original list price received) indicate the Twin Cities housing market is on the right track to recovery. This video update arrived in my inbox on the heels of another article where five experts were asked to select five areas that would see the earliest recovery in the housing market. Economist, James Diffley, selected Minneapolis and "refers … (6 comments)
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buying a home: Foreclosure Disclosures: In MN, it is Still Home Buyer Beware!
- 03/03/09 03:58 AM
Wise men say; only fools rush in...Wait a sec. I know that classic song is about falling in love. But since many home buyers do "fall in love" with a home and become a bit foolish, it applies.A few weeks ago, I was with a couple who went a bit gaga over a bank-owned foreclosure listed by one of those agents specializing in REO homes. I'll admit, this was an amazing home: Nice floor plan....Picture perfect condition...Terrific View...And a "just reduced" price tag that put the home in the category of phenomenal deal!These buyers were not first time buyers, having bought … (6 comments)
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buying a home: FIRST TIME HOMEBUYERS! Affordability and an $8000 Tax Credit Make NOW the Time to Buy!
- 03/01/09 03:21 AM
If you haven't heard, the recently approved stimulus package had a wonderful provision for anyone buying their first home; An $8000 tax credit!Here are the things to know about the $8000 Tax Credit in a nutshell:
The tax credit is for homebuyers buying their first home only. The money does not have to be repaid. The credit is capped at 10 percent of the home's purchase price with a maximum of $8,000. Homes must be purchased on or after January 1, 2009 and before December 1, 2009. (Note not the credit is NOT available until the end of the year. Plan … (2 comments)
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buying a home: Today's Homebuying Dilemma--200+Homes! How Many Does a Buyer See?
- 02/28/09 11:24 AM
Home buyers across the U.S. are in facing a stressing situation-Too many homes to choose from and it is overwhelming. With foreclosures, short sales and traditional sellers that need to sell homes due to relocation or family changes, there are hundreds of homes on the proverbial real estate shelves! As a REALTOR® in the Twin Cities north metro (Forest Lake, Ham Lake, Blaine and Lino Lakes areas), I have had a number of clients approach me with some very loose home selection criteria. Our first conversation, might sound something like this:"Teri, I am willing to go anywhere for a single family … (12 comments)
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buying a home: Foreclosure Investors Beware--House Flips Can Flop No Matter How GREAT the Deal!
- 02/13/09 01:22 AM
How could it have happened? You wisely spent months researching how to invest in real estate. You went to seminars, read books and magazine articles showing how simple it would be in this down market to buy properties to fix up and sell or rent for profit. You may have worked with a great REALTOR® to find the perfect property or came across a FSBO that was a tremendous deal. After the closing you were handed the keys and started the hard work rehabbing the home with the hope of selling quickly: fixed plumbing, new cabinets, appliances or carpeting and repainted … (46 comments)
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buying a home: The Importance of Being Earnest with Earnest Money
- 01/22/09 02:13 AM
Oscar Wilde's popular Victorian play has nothing to do with earnest funds but lends a fun intro to a very important topic when buying a home. To be earnest, you show eagerness, intent or seriousness. That definition alone should indicate the role of earnest money in a real estate transaction. Whether considering an 1890's Victorian farmhouse or a newly constructed split-level home, it is important to be earnest when deciding what the correct amount would be to give as earnest funds with the offer to purchase a home.
When buying a home, the words used can often be confusing. Home buyers … (15 comments)
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buying a home: Foreclosures--Not Just for Investors Anymore! First Time Buyers also get DEALS!
- 12/27/08 08:09 AM
This past spring I asked readers if they were ready to take on the challenge of buying a foreclosure or short sale home. Test Yourself--See If YOU are Ready to buy a Foreclosed Home! was a tongue-in-cheek look at the average homebuyer purchasing a pre-foreclosure or bank owned property. I have thought of that post often in the past few months ...At the time, I was seeing overpriced pre-foreclosures and trashed REO houses, in many cases buyers were better negotiating with traditional sellers for their dream homes. But, as they say, that was then and this is now. NOW, I … (17 comments)
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buying a home: Do you Have your Eye on a Real Estate SLEEPER?
- 11/06/08 06:58 PM
You know what I mean...There is a home you have been watching for a couple of months and it is priced right. In fact, it is a steal of a deal. But you are still on the fence about buying a home and want to wait until that perfect moment. You are timing the market so to speak and waiting to see if seller of that "sleeper" is going to drop the price again. Well wake up bargain hunters...You might not be the only one with an eye on that sleeper and if you wait too long it will be gone.A … (67 comments)
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buying a home: MN Mortgage Expert Explains—There Still is 100% Financing for Buyers in Minnesota
- 10/23/08 04:48 AM
We have heard that the party was over. Home buyers with limited funds for a down payment would be required to scrimp and save for that first house again. And in most cases this is true. Our veterans have always had a wonderful zero down program available and the VA loan program is still a great option to those who have served our country. But other buyers will have to come up with the minimum 3.5% down payment required by FHA or 5% down for a conventional loan before they can even think of purchasing their dream home. However, if you … (2 comments)
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