minnesota real estate: 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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minnesota real estate: Speechless Sunday(Almost)--Following Directions Produces Not-So-Scary Results!
- 10/30/11 06:27 AM
A couple of Octobers ago, I had the opportunity to draw at the Animation exhibit in Disney's Hollywood Studios during a family vacation. While my one son was riding the Tower of Terror for the tenth or eleventh time, my other son and I were given step-by-step instructions on how to draw the main character in the Tim Burton classic, The Nightmare Before Christmas. It was a unique opportunity because while the classes go on year round, they only give instructions on Jack Skellington a few times a year, just before Halloween.
The fun part about taking this class which … (5 comments)
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minnesota real estate: Anoka, Chisago and Washington County 2008 Year End Housing Statistics--Snapshot VS Detailed Report
- 02/26/09 02:01 AM
Real estate marketing statistics have been thrown around in the media lately as commonly and as randomly as a toddler tosses around a bowl full of Cheerios. Just like those darn O's, numbers and stats are everywhere! But with so random of a disbursement, does a home buyer or seller really understand what they mean?Since the beginning of the year, I have been posting real estate market statistics for the communities in the north metro where I do the bulk of my business. While I work in Anoka County, Southern Chisago County, North and Eastern Ramsey County and North Washington County, the … (14 comments)
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minnesota real estate: Lakeshore Foreclosures Available in Washington County and Forest Lake, MN
- 02/17/09 09:24 AM
Throughout Minnesota there are homes in foreclosure so with tens of thousands of lakes, lake homes cannot be immune from the mortgage and foreclosure crisis can it? In a word, no. I did a search today* for lakeshore homes that are currently bank-owned or listed as a foreclosure and found six current listings for Washington County lakeshore properties.
There are 3 listings on Forest Lake. The first two are priced very reasonably in the low $200's. This is amazing for anyone who knows the area. Only a couple of years back, a lake lot would have sold for the same amount … (8 comments)
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minnesota real estate: Lakeshore Foreclosures Available in Chisago County Minnesota
- 02/17/09 09:19 AM
With 12,000+ Minnesota lakes and a foreclosure crisis, there must be a few lakeshore homes that are bank owned and available, right? Actually, yes! I did a search today* for lakeshore homes that are currently bank-owned or listed as a foreclosure and found eight listings on eight different Chisago County lakes. And the best part...not one of these homes is priced over $400K. In fact half are under $200,000.From complete new construction on Lake Vibo in Chisago Lakes Township to a Rush Lake cabin in Nessel Township, lakeshore foreclosures are full of bargains. Another great affordable option listed for $174,900 in … (0 comments)
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minnesota real estate: Lakeshore Foreclosures Available in Anoka County Minnesota
- 02/17/09 03:42 AM
In Minnesota, Land of 10,000 Lakes...well 12,000 actually, there are bound to be one or two lakeshore owners who have had a tough time in this economic downturn right? I did a search today* for lakeshore homes that are currently bank-owned or listed as a foreclosure and found nine current listings for lakehomes in Anoka County.
Priced from $134,500 for a 1983 built home on Round Lake in Andover to $799,900 for an East Bethel home built in 2007 on Coon Lake, there is a handful of lakeshore foreclosures to choose from. Looking for an opportunity on a full recreational lake? … (2 comments)
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minnesota real estate: Kitchens Still SIZZLE as a Remodeling Investment!
- 02/01/09 04:54 AM
No doubt there are many homeowners who would love to make a change to a different home but the current status of the real estate market has caused them to reconsider a move and opt for a remodel. But what the "what ifs" start creeping in too...Will I ever get the money back out of the remodel? Will the investment outweigh the value added to the home? If you are considering a kitchen remodel, it still could be good choice.
The statement "Kitchens and Baths sell homes" is second only to "Location, Location, Location" in the real estate playbook. Okay we don't really … (48 comments)
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minnesota real estate: Snapshot of Lino Lakes, MN 2008 Year End Home Sales Statistics
- 01/18/09 11:38 PM
The number of closed sales took a drastic drop in Lino Lakes, Minnesota in 2008. Over 25% fewer homes were sold last year in the Lino Lakes area than in 2007. The number of new listings is down as well along with the average price of a home sold. It took about a month longer to sell a home in Lino Lakes, Minnesota in 2008 compared to in 2007 but the Days on Market Statistic is still significantly lower than in some other north metro communities.. The average sales price for a home is down just over 14%. This probably … (0 comments)
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minnesota real estate: Snapshot of Forest Lake MN 2008 Year End Home Sales Statistics
- 01/18/09 04:07 AM
It is not just your imagination; it is taking longer to sell a home in Forest Lake Minnesota. Compare year end figures from last year, it homes are taking an average of 30 days longer to sell in the community of Forest Lake. The average sales price for a home is down just over 9% but on a positive note, this means affordability for home buyers is up as well. If you are a home buyer looking for the right time to buy, the time is now.
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If you are buying, selling or relocating to Minnesota and need … (0 comments)
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minnesota real estate: Real Estate 101—What is a Short Sale?
- 12/31/08 01:00 AM
Ring-Ring! There's another call...Since, interest rates dropped to an all time a few weeks ago, buyers are again asking questions and getting in a buying frame of mind. As a Minnesota REALTOR®, many of the calls I have received lately are from excited first time buyers and/or the parents of young people as they assist their children looking for their first home. A lot has changed since mom and dad bought a home so there can be many questions.
This time the call is from an excited first time buyer who has been scouring the internet for the perfect home at … (5 comments)
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minnesota real estate: 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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minnesota real estate: Uniquely Minnesota Artful Distractions—Hometown Version: GIANT Pizza Chef in Linwood, MN
- 12/16/08 04:03 AM
Last week as I drove a car full of teenagers to go skiing at Trollhaugen through Lindstrom and Center City, my son mentioned our excursions to get photos of unique giant hometown art. We were passing the giant hotdog and miniature statue of liberty (small compared to NYC standards anyway) in Lindstrom, when the subject came up. As we drove past the Lindstrom teapot water tower, his friend mentioned how the giant chef outside of Linwood Pizza always cracks him up as they drive by. My son told his friend about my photo blogs and I said the pizza man was … (12 comments)
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minnesota real estate: House Price Index Report 3rd Quarter 2008—Minnesota is NOT in the High Depreciation Top Ten but Came VERY Close!
- 12/11/08 04:18 PM
The report released by the Federal Housing Finance Agency in late November was not expected to hold great news. The House Price Index (HPI) report showed that across the United States the average appreciation was -4.00 during the past year. Minnesota's appreciation rate was -4.33 just slightly worse than the national average. It ranked 41st out of 51 (states plus the District of Columbia). Though several other states were exhibited higher depreciation rates, there is no cause for celebration. The affect of foreclosures on the market are evident.
The bottom of the list states are no surprise either. Four states showed … (0 comments)
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minnesota real estate: October Video Update on Twin Cities Real Estate Market
- 10/28/08 03:55 AM
I came across this market update posted on YouTube from the Minneapolis Association of Realtors which is a very good explanation snapshot of condition of the Twin Cities real estate market today. It is cautiously optimistic about the housing market conditions this fall. Take a look...
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest … (5 comments)
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minnesota real estate: Wyoming, MN Real Estate Market Statistics 3rd Quarter 2008
- 10/06/08 01:46 AM
The City of Wyoming, Minnesota on the northeastern edge of the Twin Cities metropolitan area is a hidden gem! According to the city's website the town was named after the first settlers who in 1855 relocated from the Wyoming Valley in Pennsylvania. Wyoming boasts its own police and fire departments, city utilities, library, hospital, elementary school and several community parks. Neighborhood shopping is great with a cute coffee shop, drug store and grocery store in the heart of the town.Activities are abundant in Wyoming. Not only is the center of the community located smack dab on the walking/biking/snowmobile trail that runs … (4 comments)
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minnesota real estate: No Political Spin—Just Straight Real Estate!
- 10/02/08 02:45 AM
A day or so ago, I received a Google Alert notifying me that MNRealEstateUpdate was listed as a one of Politics in Minnesota's favorite housing blogs. The article, Tracking the slide online: PIM's favorite economics & housing blogs, posted earlier this week by Dan Feidt, included my blog. What an honor for me to be listed with some of the top Minnesota real estate bloggers...And we have several excellent bloggers in the land of 10,000 lakes!I found the recognition a bit curious as my real estate blog is very non-political. My blog is not full of postings ranting on about the … (12 comments)
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minnesota real estate: Forest Lake, MN Real Estate Market Statistics Mid Year 2008
- 07/02/08 07:17 AM
Forest Lake, Minnesota is a special community in the northeast metro Twin Cities area. Many people from the city remember Forest Lake fondly from decades ago as a summer vacation spot or place to go for a drive in the country. Today, the lakeside cabins have been replaced with year round residences and the rural nature is all but a thing of the past in this thriving St. Paul suburb. Though housing growth has slowed down drastically in the past year or two in many northern suburbs due to ever increasing gas prices, Forest Lake is holding it's own.Real estate in … (8 comments)
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minnesota real estate: Ham Lake, MN Real Estate Market Statistics Mid Year 2008
- 07/02/08 03:52 AM
Even though existing single family home sales in Ham Lake, Minnesota remained sluggish during the first half of 2008 the numbers show that homes are still selling. The Days on Market (DOM) statistic has stayed pretty consistent with 217 days as compared to 214 in the first quarter and 220 in the fourth quarter of 2007. However, homes in the higher price categories remain stalled.For the first six months of 2008, only one home is in pending and one sold in the over $500,000 price category. While that three days on the market for the high price point looks like a … (2 comments)
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minnesota real estate: Homes on Minnesota Wetlands--Affordable Beauty and Privacy!
- 05/22/08 09:19 AM
While browsing through the Q&A section of the real estate website, Trulia the other day, I ran across a question from a Twin Cities resident who was considering purchasing a home on a Minnesota wetland. This homebuyer was wondering whether buying a home with environmental lakeshore would be a huge mistake.I found this question very interesting. As a Realtor who works mainly in the Anoka, Chisago and Washington County areas there is an abundance of wetland and lakeshore homes. From Hugo to Wyoming and throughout the communities of Ham Lake, Lino Lakes and Blaine, there are properties abutting wetlands and natural … (15 comments)
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minnesota real estate: When Do I Get the Keys?—Immediate Gratification is BEST in Real Estate Transactions!
- 02/25/08 12:46 AM
This is a world of immediacy...We drive thru for instant food. We communicate with instant messages. We are trained for immediate gratification. It is recommended in today's changed real estate market that people SLOW things down. And this is great advice when it comes to most parts of the home buying transaction but when it comes to possession, immediate gratification is best.Immediate Possession is a very good thing for both the home buyer and home seller. In Minnesota, possession time can be negotiated, but it is in everyone's best interest that the buyer be given the keys and complete possession of … (28 comments)
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