The st Paul Winter Carnival

It’s almost that time of year again…The Winter Carnival in St Paul.  This is the time of year that we get to embrace our inner Minnesotan and bundle up and head out in the cold for a day of fun.  The weeklong event will run from January 26-February 5.  You can count on great food and amazing ice sculpture.  In addition,  there will be music, peewee hockey, snow sculptures,  sled dog races, sculpture competitions, ice skating, and of course, the Palace.  The Winter Carnival is so much fun that even the residents of the west metro suburbs like Minnetonka, Wayzata, Excelsior, Deephaven, Edina, and  St Louis Park make their way across the river to celebrate.

You can visit the Winter Carnival website at www.winter-carnival.com  to find out the address and schedule of events.  See you there!

Showing your home during the holidays

Showing your home during the holidays can pose some challenges.  Here are a few thoughts that you may find helpful.

1.       Keep decorations to a minimum.  Choose a few select items and display them in a way that does not obstruct views or take away from the aesthetic of your space.  Remove all holiday decorations as soon as possible and restore your home to its original decorations.  There are a few reasons for this… you will likely have a diverse group of potential buyers viewing your home.  You want your space to speak to them and not the decorations or your ideals and beliefs.  While decorations are special and meaningful to us, to buyers  they  can seem like clutter and distract from what you are really wanting people to see…your home!

2.       Some sellers are inclined to place their home on a “not available for viewing” status during the holidays so they do not have to worry about showing the home during the busy holiday season.  If selling your home is not essential then this is a strategy that can work and allow you to have the option of enjoying the holidays without worrying about keeping things just so for potential showings.  If you do need to sell, I do not recommend this strategy.  Home inventories are typically down during the holidays which can give you an advantage in the first place.  With fewer homes on the market, yours will stand out more to motivated buyers. 

Instead, consider attending a holiday celebration at a friend or relatives home so that if a last minute showing arises in the days before the holiday you don’t have to vacate a house full of guests or fiddle with your holiday plans.   

Wouldn’t it be the best holiday gift to yourself to sell your home??  Hopefully these tips can make that happen for you!

Happy Holidays!

Market Trends

As is usual, the holiday time tends to be slower than usual in the Real Estate market.  As of November, the amount of homes on the market decreased over 20% to numbers that we last saw in 2004.  This may not seem like the best news, however, the sellers that are currently listed in the market are seeing an upside to lower inventory.  Purchase agreements signed during this time are up a little bit more than 30% over the same time last year.  While the median asking price has decreased a little bit, sellers, on average,  are finding that they are able to take offers that are 90% of the listed price.  This is really exciting because this is the fourth consecutive month that this figure has risen!

As I have mentioned before, selling during the holidays can be a challenge, but buyers are motivated and there is generally less competition among current listings.

Short Sale vs Foreclosure - Part 4

Foreclosure versus short sale and how it can affect employment.

Foreclosures are serious and they show up on your credit history and affect your credit score (see previous post).  Did you know that employers reserve the right to check your credit as needed?  Some jobs that are considered sensitive (like some military positions, CIA positions, police, and high profile security jobs) and may regularly be subject to credit checks.  Depending on the job a foreclosure can have a negative impact.  If you are applying for a new job, be aware that many employers are performing credit checks on all applicants and a foreclosure can challenge your employment eligibility in some more sensitive fields of employment.

Short Sale vs Foreclosure - Part 3

How does a foreclosure versus a short sale affect my credit score?  How long will it show on my credit history?

Many of us have worked hard to establish and maintain a good credit score.  Current woes in the housing markets have made a bit of a mess out of otherwise stellar credit scores. 

Both options lower your credit score although foreclosures do so more substantially.  The average foreclosure can pull your credit score down anywhere between 250-350 points and remain attached to your credit history for 7 years and possibly longer. 

If you have remained current on your mortgage payments prior to the closing of your short sale you are in fairly good shape.  Once the short sale is complete it is reported as “paid as agreed”.  Generally a short sale will drop your credit score about 50 points and its effect can be brief…about a year or two.  Be aware though, if you make late payments on your mortgage before the sale of your home your credit score will be affected much more so.  As far as your credit history you are in luck!  Short sales are not reported on a credit history.

Short Sale vs Foreclosure - part 2

What happens when I am ready (and eligible) to apply for another mortgage?

On future lender forms, you will have to answer a question that asks if you have foreclosed on a property within the last 7 years.  Of course, if you have foreclosed within said time frame your rates will be affected.  If you have negotiated a short sale instead of a foreclosure you don’t have to worry about answering a question like that. As a matter of fact, if you are current on payments upon the close of your home, you may apply for a FHA loan right away.  If you have been delinquent on your payments at the time of your closing you will have to wait 3 years until you become eligible for a FHA loan.

Free Pictures with Santa

I would like to invite you to spend some time with Santa on December 3 from 10am-2pm.  There will be food, games for the kids, and you receive a FREE picture of you/ your family with Santa!  You can even bring your pets!  if you like, your picture can be posted to our website so that you may share it with your family and friends both near and far.

The fun will be at our offices in the RE/MAX Towers on 4154 Shoreline drive, Spring Park, MN.

RE/MAX Solutions is also an official drop off center for Toys For Tots.  A gift of a new and unwrapped toy would be greatly appreciated but not required.

Ho-ho-hope to see you there! 

Short Sale vs Foreclosure - part 1

Over the next few weeks, I will break down some frequently asked questions explaining the difference between a foreclosure and a short sale.  Be aware that short sales can be complicated so using a professional certified in dealing with them is highly recommended.

How a short sale and a foreclosure affect your ability to purchase another home in the future:

These are general rules and pertain to both primary and investment properties.  In some cases there are circumstances that could affect this rule, visit www.efanniemae.com for more information.   A foreclosure will make you ineligible for Fannie Mae backed mortgage for up to 7 years.  If you can successfully negotiate your way through a short sale you will be eligible for a Fannie Mae backed mortgage in as little as 2 years.

I am now a Certified CDPE Professional

Certified CDPE Professional

I have recently earned the new and prestigious designation of Certified Distressed Property Expert (known as CDPE for short).   I have completed extensive training in foreclosure avoidance, with a particular emphasis on short sales.  At a time when millions of American homeowners are struggling with the possibility of foreclosure, the skills and education I have obtained will benefit area residents and communities.

A short sale allows the distressed homeowner to repay their mortgage at the price that the home sells for, even if it is sold for less than what is owed on the property.  As we all know and likely have felt, home values are dropping.  Short sales can save people from the negative impacts of foreclosure and even bankruptcy in some cases.  We are finding that more and more lenders are willing to consider short sales as an alternative to foreclosures as they are much less costly for everyone involved.

The CDPE designation is invaluable as it allows me to work with homeowners and lenders to navigate through complicated short sales.

In my next 4 posts I will compare and contrast the difference between short sales and foreclosures.

Budget Friendly Ways to Customize your Kitchen

Don’t have the budget or time to tackle a major kitchen remodel?  The following ideas can be helpful if you are getting ready to list your house for sale or want to spruce up and customize a kitchen space in a newly purchased home.

1.       Paint existing cabinets in a color that creates the mood that you are shooting for.

Open shelving concept

2.       If you have lots of cabinet space you can create an open shelving feel by removing some cabinet doors to expose the shelves.  Don’t forget to fill nail holes and consider a fresh coat of paint on the wall behind the shelves.

3.       Update cabinet hardware like hinges, drawer pulls, knobs, and light switches.

4.       Spruce up a plain backsplash with a pretty stencil, adhesive tiles, or traditional grouted tiles.

5.       If you have caned lights consider using a recessed-can converter kit to hang a statement making pendant light.  You can find them at home stores or on websites like www.thecanconverter.com  

great example of stenciled backsplash and pendant lights in this retro kitchen

6.       Mismatched appliances?  Give them new life by refacing them with an adhesive panel.  Most popular of course is stainless but you can even create your own custom panels to match whatever mood or color theme you are dreaming of.  Check out www.applianceart.com for ideas and products

Market Report week Ending Nov 5, 2011

Each week I get lots of information regarding Minneapolis area trends and happenings in real estate. Hope you find the following information interesting.

Pending home sales were off to the races as buyers eagerly entered more contracts than during the same week in 2010. Sellers pulled back a bit as they listed fewer new properties than last year at this time. By and large, inventory declines have been the 2011 tale to tell, but a handful of alternative leading indicators suggest that the Spring 2012 market could present a changing landscape.

In the Twin Cities region (which includes Wayzata, Minnetonka, Eden Prairie, Deephaven, Plymouth, and Hopkins), for the week ending November 5:

• New Listings decreased 18.7% to 1,134 • Pending Sales increased 20.5% to 794

• Inventory decreased 22.1% to 21,214For the month of October:

• Median Sales Price decreased 9.6% to $154,500

• Days on Market decreased 0.6% to 134

• Percent of Original List Price Received increased 1.0% to 91.2%

• Month’s Supply of Inventory decreased 28.3% to 6.3

This information supplied by the Minneapolis Area Association of REALTORS®

Tuesday Tool Day/ Angle Drill

A 90 degree Angle Drill is another one of those must have items.  It gets into tricky spaces  easily allowing you to drill holes and drive screws. 

Tuesday Tool Day/ Finish Nailer

I really appreciate this Cordless Finish Nailer.  It has its own compression cartridge which means you do not have to be hooked up to a compressor.  It shoots finish nails fast and accurately and is perfect for trim and baseboards.



This is a great tool to rent if you are doing just one or two projects that will use it.



Tuesday Tool Day/ Table Saw

This portable table saw is great.  It works great for cutting wood in various applications.  It is especially handy for homeowners who are laying down their own wood floors as you can easily rip boards to just the right width.  It folds up tightly which makes it easy to store.

Tuesday Tool Day/ Hammer Drill

My 18 Volt Cordless Hammer Drill is a staple in my tool arsenal.  The hammering action provides a short, rapid hammer thrust to provide speedy drilling with less effort.  Keep an extra battery charged so you never have unwanted downtime during your home improvement projects.

Considering initialing your tools if you plan on lending them to friends, family, and neighbors. 

This drill has seen it's share of action!

Consider your commute

You have been searching for the perfect home and you think you found it!  It has the perfect amount of square footage, is close to amenities that matter to you, in a great school district, and it is a price you can actually afford.  Where do you sign?  Not so fast!  There is still one thing to consider…your commute.  No one wants to commit to a mortgage to find out that traveling to and from home is enough to make you want to pull your hair out.

If you are moving to a new area of town or moving in from out of state I advise taking the time to travel your commute to school, work, day care, and any combination of these that you will be making on a frequent basis.  You will get the best idea of what your future “day-to-day” will be like if you carve out the time to make your commute during the time of day that you intend to travel it.  As you make the drive (or bus) imagine doing it 5 days a week.  Is it worth it?  You may find that even though you are a short distance from where you need to go it may take you more time than you want to get there.  Or, maybe the house is so great that those extra 10 minutes are worth it. 

In addition, mapping out your commute time may assist you if you are trying to decide on two or more homes.   

If you can’t find the time to make the commute consider keeping an eye on local traffic websites during the times that you plan to travel.  They can be a great tool to help gauge traffic levels and drive times.

Life has enough surprises in it already.  Take the time to do your homework and your commute does not have to be one of them.

Tuesday Tool Day/ Screw Gun

The Portable Screw Gun is a handy tool that should be in everyone’s tool box.  It is light to medium duty and is handy because it can screw at various different angles.  It is great for those awkward spaces.  I really like this one from DeWalt.

Your Nose Knows

Small Things That Make a Big Difference in Selling your Home/ Scent

When you put your house on the market there are lots of little things you can do that will make a big impact on buyers.  Let’s talk about smells.  Our sense of smell can trigger emotion in a split second.  When selling a house, we want to avoid smells that alarm people and promote scents that evoke a sense of home and comfort.  It is not uncommon for a buyer to quit looking at a house if they find indoor odors offensive.  The first whiff of your home needs to be good!

Every house has its own smell and we don’t necessarily smell them since we live with them every day.  Some common odors that are obvious to people are:

·         Cigarette smoke

·         Pets/ fur/ litter boxes

·         Strong cooking odors

·         Damp, musky smell

·         Garbage

These top 5 smells are fairly easy to deal with.  Here’s how:

If you are a smoker, resolve to smoke outdoors while the house is on the market.  Open the windows and air out the place.  Clean the carpets and if possible wash items that hold smoke smell like sofa slip covers, drapes, and throw rugs.  If you are really industrious wash the walls if your paint allows it (don’t do this if you have flat paint).

When people do not have pets the scent of yours can be immediately obvious.  Make sure to wash the dog once a week.  If bathing is not an easy option there are wipes that you can buy that sanitize and freshen fur on all animals.  Clean pet blankets and bedding often.  If they sit on the sofa a lot, consider washing the slipcovers as well.   If you have a litter box, clean it every day and throw the waste away immediately outside.

Strong cooking odors can linger for days.  Make sure that you are using your ventilation system in your kitchen (most often the hood above your stove).  If possible, open the windows and get some fresh air in the house.  Try to avoid cooking things like curry, fish-y fish, lots of garlic/ onions if you know you will be having a showing in the next 24 hours.

Basements in Minnesota can get a little dank and musty smelling during the summer months.  You can keep your basement air smelling as fresh as possible by using a dehumidifier.  It pulls extra moisture out of the air and keeps things much drier and cleaner smelling.

Make sure to empty your house garbage cans several times during the week.  This includes kitchen, bathroom, kids’ rooms, and nursery’s.

Tuesday Tool Day/ Pancake Air Compressor

You can tell this compressor has seen some action!

The tool of the day is a Pancake Air Compressor.  I really like its compact size.  It makes it easily portable and runs almost any pneumatic tool.

Popular Home Renovations

There are certain home improvement projects that can really launch your home into a higher bracket.  Before you call a contractor or pick up that sledge hammer for some DIY demo you may want to consider the Return on Investment (ROI) for your time and efforts.

The most popular and most expensive remodels/ updates are kitchens and bathrooms.  The average kitchen or bath remodel can fetch you 75%-90% of your initial investment.  Usually you can get a great return on appliance upgrades.

Other good options for remodeling and boosting equity are landscaping, adding a room, adding a bedroom, and adding a garage.

If funds are tight, spend your money on rooms that people value and use the most – like kitchens and baths – instead of adding more niche items like wine cellars, game rooms, and home theatres.  Spaces like this are much more personal and not all buyers will find value in them.

Of course, you should do remodeling that makes sense for you.  Ultimately, you will be living in the home at least for a while and should enjoy the fruits of your labor. 

Finally, take care to do improvements that can be supported by your neighborhood.  If you go overboard it can slow down the selling process.  For example, putting a high end chef’s kitchen in a starter home will drive up your price to the point that first time home buyers may not be able to afford it and the buyers that could afford it may not consider looking in a starter home neighborhood.

Tuesday Tool Day/ Compound Miter Saw

You may or may not know, but I have 30 years of experience in residential construction, remodeling, and real estate.  Based on this experience, I know a thing or two about tools and how they can make your home improvememt jobs easier and more efficient.  So if you are updating your home for your own pleasure or getting it ready to put on the market, make sure to check in every Tuesday for the tool-of-the-week.  Keep in mind that most of the tools that I will post on are items that you can easily and affordably rent at most home improvement centers.

  

This is my Sliding Compound Miter Saw.  It has a large cutting capacity so I can take on really big projects. The saw has a rotating vertical pivot allowing the cutter head & blade to be tilted sideways in addition to the horizontally rotating table.  It is great for framing and cutting molding.   The stand is a separate purchase from the saw but worth every penny.  It folds for easy storage and has a ton of features that let me tailor it to my task at hand.

Table saw stand. Sold seperately.

Use Pictures to Help Sell Your House

How Pictures Can Help to Sell Your House

In a perfect world, we could list our house for sale during the peak months that show off all the homes best assets.  But the reality is that we have to move when life dictates it; new job, graduate school, family necessity – you name it!

I suggest starting a “House Pictures” file on your computer.  As the seasons come and go, remember to take a few snapshots of highlights around your home.  Keep the file updated from year to year.   Things like your landscaping and/or garden during spring, summer, and fall, even winter.  Do you dress your house up for parties?  Take a few photos of entertaining spaces all decked out prior to your guests arriving.  Don’t forget pets…if you have an asset that a pet would like, show them using that space too.  Think of things like a cat perched in a window or a dog napping in a sunny spot on the deck. Do you live close to a Lakeshore?  Pictures of water create strong emotion.  As people tour your home with their Realtor, they try to imagine themselves in your space.  Pictures can help buyers by expanding what they already see with visions of what the future in the home will hold. 

Edit your images to a dozen or less of your best photos.  If you have too many pictures it can be overwhelming.  You may choose to have them laying out on your kitchen countertop for buyers to browse, load images into a digital picture frame, or create a simple pamphlet on your computer for anyone interested in taking one. 

Strong images can be great persuaders.  Make sure you have some on hand to entice buyers in putting an offer on your property. 

Messy Closets Turn Off Potential buyers

Small Things That Make a Big Difference in Selling Your Home/ Closets & Storage Spaces

Every buyer wants lots of closet and storage space in their new home.  You can just never have enough!   Whether you have small, average, or loads of closet and storage space there are a few things you can do to maximize your space and make it look bigger and really organized.

Closets:  Do you have piles of clutter, shoes ,and clothes hiding in your closet?  Care your clothes jammed onto the rods?  It may work just fine for your day-to-day living but a potential buyer sees a big mess.  In addition, they may have a hard time imagining how much space the closet really has to offer.   Try these simple steps to make your closet clean and clutter free:

·         If your rods are packed with clothes, edit them.  Pack away out of season clothes and clothes you have not worn in over a year. (side note: did you know we wear 20% of our clothes 80% of the time??)  Less is more for creating an impact in your closet.

·         If your budget allows, consider buying hangers that are all the same.  You can find plastic or wood hangers fairly inexpensively at big box stores.  The continuity looks really polished.

·         Organize remaining clothes by sleeve length and color (example: short sleeved white, long sleeved white, short sleeved brown, long sleeved brown, short sleeved red, long sleeved red…you get the picture)  While this is something you may never dream of doing for yourself, to a buyers critical.

·         Consider some kind of shoe rack – either floor style, over the door style, or hanging style.  Looks very tidy.

·         Keep items that need to be folded very neat and tidy.

·         Small closets can get a big boost by adding a drop down rod extender which doubles hanging space for tops.

·         This rule applies to front closets as well.  Consider using boxes or baskets in a theme color to hold things like mittens, sports items, and other do-dads.  Organize shoes with some sort of a rack.

Popular home renovations

There are certain home improvement projects that can really launch your home into a higher bracket.  Before you call a contractor or pick up that sledge hammer for some DIY demo you may want to consider the Return on Investment (ROI) for your time and efforts.

The most popular and most expensive remodels/ updates are kitchens and bathrooms.  The average kitchen or bath remodel can fetch you 75%-90% of your initial investment.  Usually you can get a great return on appliance upgrades.

Other good options for remodeling and boosting equity are landscaping, adding a room, adding a bedroom, and adding a garage.

If funds are tight, spend your money on rooms that people value and use the most – like kitchens and baths – instead of adding more niche items like wine cellars, game rooms, and home theatres.  Spaces like this are much more personal and not all buyers will find value in them.

Of course, you should do remodeling that makes sense for you.  Ultimately, you will be living in the home at least for a while and should enjoy the fruits of your labor. 

Finally, take care to do improvements that can be supported by your neighborhood.  If you go overboard it can slow down the selling process.  For example, putting a high end chef’s kitchen in a starter home will drive up your price to the point that first time home buyers may not be able to afford it and the buyers that could afford it may not consider looking in a starter home neighborhood.

What's there to do this weekend?

Wayzata is one of the Metro area’s most desired and beautiful communities.  It is located on the shores of beautiful Lake Minnetonka with close and easy access to 394.  You get all the benefits of lake living and a small, close knit  community but  it is just a short and straight 15 minute drive to downtown Minneapolis.   

This weekend is the perfect time to visit the city at it ushers in the 37^th Annual James J Hill Days.  The weather looks to be sunny and beautiful for the 2 day event which features an Arts Bazaar, Coaster Cart Derby, lots of kids activities, Dachshund Races, Car Show, a Parade, and more.  The fun gets started Saturday at 9:00 and goes until 6:00.   Spend the day taking in the sights and sounds of the event and finish it off dining and relaxing lakeside at Sunsets, Blue Point, Sakana, or Gianni’s Steakhouse.   Then stick around for the Fireman’s Dance from 6:00-9:00.  Sunday’s activities begin at 9:00 and last until 4:00.  If you are a Yoga fan be sure to come for the Free Yoga Class on the Grass which starts at 8:00 a.m. both Saturday and Sunday.  Yoga will be held at the Wayzata Depot Park. 

Directions from Minneapolis/St. Paul:

394W / Hwy 12

Take 101N / Central Avenue Exit

At the stop of the ramp turn LEFT at the stoplight onto Central Ave

At the second stoplight turn RIGHT onto Wayzata Blvd.

At the next stoplight take a slight LEFT onto Superior Blvd.

Drive down the hill and at the “T” turn RIGHT onto Lake Street

This will bring you right down to the action. Street parking is available on

side streets (perpendicular to Lake Street) as well as the Park & Ride,

Middle School and Church Lots on Wayzata Blvd

First time home buyer. How much can I afford?

You are ready to take the plunge and buy a house.  You may find yourself wondering how much you can afford for your mortgage.  In general, it is recommended that you pay no more than 1/3 of your income each month towards housing.  This will include not only the mortgage, but also things like taxes, association fees (if applicable), and homeowners insurance.  To figure out taxes, you must find out the property tax rate for the areas that you are looking to buy.

A lot of websites offer handy calculators which can make this process much easier.  I like the one by Bank Rate.  You can find it at www.mortgage101.com

  Remember, just because you can get approved for a specific amount does not necessarily mean you should spend that amount.  The calculator will give you the highest amount you can borrow.  You may want to consider paring back a bit so you have some wiggle room in case you need to make repairs, would like to buy some furniture, or do some remodeling.

***you may want to consider reading my post about being pre approved for your mortgage prior to shopping for a home.

Miracle Jeans Day

Remax has partnered up with the Children's Miracle Network Hospitals to make a difference for our local children's hospitals.  One thing that I really like is that the funds are kept within the communities where they are raised.  As of 2011, Children’s Miracle Network Hospitals has raised more than $4.3 billion—most of which is donated a dollar or two at a time.   It is a great feeling to a make a difference in our communities.  You can make a difference, too.  Check out their website to see if theirs is a charity that you may consider giving to.

http://childrensmiraclenetworkhospitals.org/

Here is a link to a great fundraiser they are doing called Miracle Jeans Day.

http://www.miraclejeansday.com/

What to do with your pets when showing your home

Most households have at least one pet.  Most common are dogs and cats but birds, hamsters, rabbits, fish, and guinea pigs also make the list.

Let’s start with the big ones first.  If you have a dog it should be removed from the home prior to your showing if possible.  It is acceptable to crate the pooch and put it in a room that does not warrant a lot of traffic like a garage (if it’s not too hot or cold out) or in the basement.  Just make sure that you let the Realtor know that you will be doing this so there are no surprises.  Keeping the dog outside is OK in a pinch but may hamper the ability for buyers to take in the property from the outside.  If you dog is a big barker, it is best to arrange to have it out of the home.  You don’t want it to distract the attention of potential buyers.

Cats are largely fine in the home.  If possible, confine the cat to a secondary room or if it is an indoor/ outdoor cat, let it out (weather permitting, of course).  Many people have cat allergies so make sure you vacuum and sweep up as much hair as possible prior to the showing.  Also, letting the Realtor know about the animal may be helpful so they can mention it to their clients who can then take necessary precautions.

All other animals that are confined to a cage are good to go.    You will want to make sure that their cages are kept really clean and are in good repair.  Buyers who see messy, smelly, or battered cages or aquariums may unconsciously make a negative association about your home.  The same rule applies to litter boxes.

Your front door

Your front door really sets a first impression to guests and potential home buyers.  Consider that buyers are likely going to be waiting  and looking at it as their realtor deals with the lock.  

Make sure that any glass on the front door or the glass flanking the door is sparkling clean. 

Set out a new, door mat in a classic design.  Remove personal mats with funny images and sayings like “Wipe Your Paws”.  Keeping your accessories neutral in tone appeals to a wider base of buyers and creates an experience more along the line of something you may find in a model home.  

If you have a steel door or one that is easily painted consider a fresh coat of paint.  Consider a color that mirrors your siding for a cohesive look or really make it pop by adding a splash of color like red, black, or deep green.   If you have the budget, consider a whole new door altogether.  Choosing something in a beautiful wood or with a window are both popular ideas.

Door knobs should be polished and in good working order (no sticky locks) and make sure you remedy any squeaky hinges with a bit of oil.  You want passage into your home to be easy and pleasant.  If needed, replace handles and doorbells.

Have pots or urns of flowers which flank the front door.

Consider a new and updated light fixture.

Keep any path or landing around the front door swept and very tidy.

Make sure there is a rug to either wipe or remove shoes on inside the door.

Surprisingly, the return on investment on your front door is nearly 100%.  The door is the gateway to the home and people will pay handsomely for that.  

Why prequalify?

Pre qualify

One thing to consider before shopping for a home is to be prequalified for your mortgage.  Prequalifying is usually done at no cost and lets your lender know about your income, debt, and assets.  After taking these into consideration, the lender will come up with an amount that they would be willing to loan you.

It is important for a few reasons.  First, it is helpful to know how much you can truly spend when you begin your search.   Second, once you find the perfect home you will be able to make an offer immediately.  This can put you an advantage especially if there is another party interested in the property.  Prequalification shows that you are a serious buyer who is looking to close a deal.

One thing to take into consideration is that what a lender prequalifies you for is the maximum amount that they feel you can afford.  It may be prudent to look at homes that cost a little less than your prequalified amount.  If you spend the maximum limit on a home, you may find that the home will eat up a lot of your extra cash each month.  By spending less than you are prequalified for, you will allow yourself some wiggle room each month which can be used for other things like home improvement projects or new furniture for your new home. 

How much should I offer on a home?

How much should I offer?

It can be a bit confusing to know what to offer a seller for their home.   One place to start is by having your Realtor pull the comparables in the general area you are looking at.  By seeing what other houses are listed at and have recently sold for you can get a sense of what a fair offer may be.

If the home has amenities that you really like but are not widely available in other homes in the area, you may want to consider offering a bit more than the comparables. Similarly, if you need to purchase and move in a short time frame offering  the seller what they are asking for, assuming the value is there, is a good idea as you likely don’t have the luxury of time to deal with lots of counter offers and dealing with the potential of losing the house altogether.

Offers that come with contingencies are often less desirable to sellers than those offers that are immediate and straightforward.  If you have a contingency, like having to sell your home first, it may be prudent to offer a little more than the asking price as a goodwill gesture.  This may entice the seller to consider taking the risk associated with your offer since they would now have the worry of two houses selling, yours and theirs.

Giving a lowball offer is ok if you have the time and energy to deal with all the back and forth that comes with it or if you’re ok with a blatant no from the seller. Also consider that you may get into a multiple offer situation which can be stressful.  Finally, if you present too low an offer be prepared to lose the property altogether to a higher bidder. If you are good with these possible scenarios…go for it…try to get a deal.

Making an offer on a property takes a lot of time for everyone involved. Don’t make an offer on a property unless you’re serious about it and willing, ready and able to commit to the purchase of the property.

Area Farmers Markets

After a cold and dreary spring, summer finally looks like it has come out to play.  One way to enjoy the bounty of the season is by shopping the local Farmers Markets.  Not only are you getting the freshest and most healthy food that the community has to offer but you will also be supporting local farmers.  It’s a win/ win!  Below is a list for some of the best markets in the Minneapolis/ St Paul Metro:

Minneapolis Farmers Market

Open 7 days a Week!
North Lyndale
May-December
6 a.m. to 1 p.m.

Nicollet Mall
Thursdays
6 a.m. to 6 p.m.

The St. Paul Farmer's Market

On the block at the corner of Fifth Street and Wall Street.

Saturdays and Sundays, April - November.
Saturday hours: 6 a.m. - 1 p.m.
Sunday hours: 8 a.m. - 1 p.m.

Minnetonka Farmers Market

Minnetonka Civic Center Campus

14600 Minnetonka Boulevard, Minnetonka.

Tuesdays, July 5–Sept. 27

from 3 to 7 p.m.

Excelsior Farmers Market

In the east parking lot of Mount Calvary Lutheran Church

parallel to Water Street

Thursdays at 2 p.m.

Edina Farmers Market

Centennial Lakes Park,

7499 France Avenue in Edina

Thursday afternoons
June 16 through Sept. 29.
3 to 7 p.m.

Maple Grove Farmers Market

Community Center parking lot

12951 Weaver Lake Road

Thursdays, June 9 - October 20
3 to 7 p.m. (June thru September) 
3 to 6 p.m. (October)