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Blood Drive

July 10, 2014

MN CRS Board of REALTORS® - BLOOD DRIVEhand shake

Hosted at the Minneapolis Board of REALTORS®

When: Monday, July 14th – 1:30pm – 4:00pm

Drive Location: 5750 Lincoln Drive, Edina, MN 55436

To sign up, go to mbc.org/searchdrives and enter sponsor code 4227.

Please contact Sandy Maxwell at sandy@sandymaxwell.com, Jim Geisinger at jimgeisinger@comcast.net or Betty Cole at bettycole@edinarealty.com with questions.

 

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Tips for Moving Before Purchasing a House

June 30, 2014

How to move when you’re in between homes.

In an ideal selling/buying scenario, you’d be able to schedule your closings for both houses so that a move occurs with ease in terms of timing and with minimal upheaval. Many times, however, an owner finds themselves needing interim housing. Perhaps they just haven’t found a house yet to buy, but have to move out…or maybe they are building a new home and it’s running behind schedule, or perhaps the closing dates are ‘off’ by a month or so. Regardless the reason, what are some tips for moving before your new home is ready for you?

The shorter the distance and the fewer the furnishings, the easier things will be. But all of these tips are applicable for anyone needing interim housing, near or far.living between homes

Rent Back

Perhaps the buyers of your home have the flexibility that allows you to rent the home from them after closing and you can stay put. This could be for a few days or a few weeks, but just until your new place is ready for you. The benefits for this is having the security to stay in a familiar place, same schools and you don’t have to move more than once.

Move out and find alternate housing

Sometimes renting back isn’t an option, or perhaps you’re moving far away so you need to rent an interim apartment or house for a month or so. What are some options for rentals?

  • Extended stay hotel ~ if you can tolerate hotel living, these hotels have small kitchens and housekeeping. Be prepared to travel VERY light.
  • Rentals ~ It is possible to find apartments, houses, rooms for rent, townhouses, and mobile homes, for short-medium or long-term leases. Find rentals that work for you, unfurnished, furnished, and even pet friendly. If you have a longer gap between homes, this might be your best choice.
  • Vacant homes ~ perhaps you know someone who needs a house-sitter for a few weeks or the home is sitting vacant and could use some furnishings in it for a season. These arrangements usually come by knowing someone, who knows someone.
  • Family or friends ~ depending on how long you’re looking at, you can always bum some space in the basement of family or friends, and sleep on the couch.

Read more…

When Should I Drop the Price of my Home?

June 26, 2014

Dropping the price of your home can help you sell.

One of the hardest decisions to make when selling a home is trusting that it has been priced correctly for the market conditions. A licensed REALTOR® is most qualified to help you make that decision. Sometimes, though, the price just isn’t bringing buyers in, or the market conditions change, or the timing of your move changes, which requires a faster sell. When is the right time to drop the price of your home?Dropping Home Price

There are a lot of unknowns when selling a house since potential buyers change by the day (as does the competition). But there are some basic standards that many agents follow throughout the country.

  • Re-evaluate your listing price every 3-6 weeks, compare your situation with similarly priced homes and then decide if a price reduction makes sense.
  • If your home is getting lots of showings and action, good feedback, but no offers, a small price reduction of 1-2% might be enough to get someone who has seen the home, to bite.
  • If your home isn’t seeing a lot of action and is getting so-so feedback, a greater reduction of 5% might be your best option.
  • No showings – you are not priced right, so reduce it about 10% and see if you get people through the doors.

Read more…

How to Improve Your Credit Score

June 24, 2014

Improve your credit score with these tips.

Credit Scores affect people in so many ways – it impacts either positively or negatively their approval for car loans, credit cards and mortgages, AND at what interest rate/terms they’ll get on that loan. If you are considering buying a home, you know this. Most credit scores fall in the 300-900 range, with higher numbers being the better credit score. Over the course of time, poor credit scores can cost thousands of dollars in fees and interest — but it doesn’t have to be that way. Check out the following tips to help improve your credit score.Realtors improve your credit score

Know your score

Regularly check your credit score and make sure it’s accurate. Any discrepancies on your report should be disputed with the credit bureau and reporting agency. You don’t want to let errors remain on your credit report!

Don’t be late

Late payments are one of the biggest contributing factors to your credit score. Set up a payment reminder system or use an auto-pay option to make sure your bills get paid on time. Always pay something and always be on time! Read more…

What You Need to Know about Appraisal Companies

June 19, 2014

Choosing a home appraisal company.

Whether you’re buying a house or refinancing, an appraisal is part of your future. In a nutshell, appraisal companies look at your home, compare it to similar homes in the area to determine the market value of your place. Appraisals are safeguards against spending more on a house than it’s worth. What do you need to know about appraisals and appraisal companies?Minnesota Home Appraisal

Appraisal companies have appraisers who visit homes to determine its value. The appraiser will look at the following key things:

  • Square footage of your home
  • Damage that is visible on the interior and exterior of the home that might affect its value
  • Verify any upgrades that have occurred
  • Verify types of heating and cooling systems; and appliances
  • Document the number of bedrooms and bathrooms
  • Determine property size
  • Note the condition of the basement

Read more…

Will My Home Reach its Value Again?

June 17, 2014

The value of your home could be rising.

Historically, homes have been a smart investment. Owners lived in a house, then got their money back when they sold…it was a better deal than renting. Borrowers got tax breaks, too, and built equity that could be leveraged into bigger houses as their incomes grew.Will my home reach it's value again

But there have been hiccups over the years where home values have dropped significantly and many homeowners found themselves underwater or with a drastic loss of value in their property. Many families today are still waiting for their homes to regain some of its losses so they can move on. When will that home reach its value again?

All key indicators are showing that there is confidence in Minnesota’s economy, which is translating to a positive trend in housing, according to the year end housing report from the Minnesota Association of REALTORS®.

With the continued addition of employment opportunities coupled with low mortgage rates and a tight rental market, many people made the homeownership choice in 2013.  Prices are on the rise in Minnesota and inventory is low, so many of those homeowners who found themselves underwater a few years ago, can now consider making a move. Read more…

Why is Loft Living a Worthy Real Estate Investment?

June 10, 2014

Loft living is still popular today

Loft living

Loft Living

It’s hard to believe that loft living started off as a cheap option for struggling artists to live and work.  They found vacant industrial space in run-down buildings and made it their homes – perfect for living and working with open spaces and great lighting.  But soon the charm of loft space caught on to the more affluent buyer and neighborhoods quickly changed from cheap loft living to the hot-spot in housing and redevelopment.  Loft living is still popular today. Why is loft living a worthy real estate investment for you?

Read more…

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