Real Estate Information

  

7726 Steepleview Road
Woodbury, MN

Offered at $189,900

 No association fees! Enjoy this updated and totally finished rambler-style twinhome. Hardwood floors and newer carpeting. Finished basement with built-ins, large family room and hobby room or office. Lots of space here!!

For more information or to set up a private showing, please call
1-800-882-7891 ext. 2124

Each year the National Association of Realtors conducts and extensive study about consumer trends related to real estate.  Test your knowledge and see how the typical American buyer and seller navigated their real estate transaction. Here's a little quiz from the 2006 survey.

1. The median age of all buyers was ____.

2. The median age of first-time buyers was____.

3. The percentage of married buyers _____. Single buyers____.

4. The typical home search took _____ weeks.

5. The typical home purchase was slightly larger than _____ square feet.

6. ____ out of five homes sold were new construction.

7. The percentage of single family homes purchased was _____.

8.  The percentage of buyers using a real estate agent during their search was _____?

9.  The typical seller owned their home for _____ years.

10. The average move up buyer spent _____ % more on their next home.

-------------------------Below are the answers-------------------------

1. The median age of all buyers was 41 years old.

2. The median age of first-time buyers was 32 years old.

3. The percentage of married buyers 61% versus single buyers 39%.

4. The typical home search took 8 weeks.

5. The typical home purchase was slightly larger than 1800 square feet.

6. One out of five homes sold were new construction.

7. The percentage of single family homes purchased was 75%.

8.  The percentage of buyers using a real estate agent during their search was 85%?

9.  The typical seller owned their home for 6 years.

10. The average move up buyer spent 40% more on their next home.

Why are these pieces of information useful? When counseling buyers and sellers on their long-term real estate plans they'll be able to make informed decision about mortgages, size, space neighborhood, budget, amenities. This was just a snapshot of the 50+ page survey.  This should be required reading for all full-time, professional Realtors.

 

• How soon would you like to have your home sold?
• What would you do if your home did not sell during your time-frame?
• Are you willing to price your home competitively to get is sold?

• Monthly Market Indicators    www.MplsRealtor.com (lower right corner)
• Review what has been selling in the last 30-60 days.            

• Articulate a better understanding about the marketplace.
• “You really did your homework!”
• Competition field trip with the seller.  

• Absorption rate = Number of sales in last 30 days divided by current inventory in the same target area
• Newspaper articles, RealtyTimes.com, InmanNews.com,  RealtorPublicPolicy.org

• In a tough market a discount agent can cost you thousand – not save you thousands
• $ Price          % Broker Fee              # Results 

• It is the homeowner’s decision – their house, their asking price
• Give the selyou enough information to make an informed decision on getting it SOLD

• The Good – The Bad – The Ugly
• The most important number is not the commission, it is the seller's proceeds
• Keep it real and honest.

• What are the seller’s expectations and can you meet them?
• MLS photos, remarks, accuracy of information
• Sometimes less is more. (Bedroom photos only show a big bed)

• Get a commitment upfront as to when and how much.
• Communicate regularly – HomeFeedback.com, weekly calls, brochures
• What has sold since you’ve listed and has your competition already adjusted

10. Professionalism

• Attitude is everything. Irrational Exuberance vs. Positive Realism
• If we can’t be your first choice – we’d like to be your second choice should your home not sell.

7844 29th Street North - Oakdale

  Huge four bedroom, 3 bath home in quiet Oakdale neighborhood. Two bedrooms on main level including master with private 3/4 bath and huge walk-in closet. Finished lower level with spacious family room, two additional bedrooms, and convenient storage room.

Call for current pricing and private showings
1-800-882-7891 ext. 2234

 I'm not a fan of credit bureaus!

The State of Minnesota requires all real estate agents to keep up their license by taking 15 CE hours each year (June - June)  I just to a fantastic, eye-opening class called "Repairing Cracked or Broken Credit" by Todd Rooker.  Wow!  This class was like a Michael Moore + 60 Minutes expose on how credit card companies and the 3 credit reporting agencies are raking the average American over the fine print coals.  Did  you know that if you have a late payment on your Visa that your other credit card can jack your rate up? That's in most of the fine print that most people (me included) never read. You wonder why the average American has over $10,000 in credit card debt!

HERE'S A GREAT CREDIT REPORT TIP: Set a reminder to get your FREE credit report from www.AnnualCreditReport.com This is the official site (not www.FREECreditReport.com) By law you have the right to get a free credit report from each of the three major credit scoring bureaus every twelve months. Set a reminder to obtain your Experian report each January, Equifax in May and Transunion in October. This will help you keep a close eye on identity theft and monitoring any credit inaccuracies.

Fixing and improving your credit score is going to be a huge issue with the amount of foreclosures, short sales and late payments from ARMs affecting the economy. Mr. Todd Rooker explained that in his research, one late payment on a mortgage can drop your credit score by 100 points!  This could affect the following; mortage rate, credit cards, auto loans, insurance premiums and surpisingly your employment! Todd shard the story of one person that was passed over for an executive postion due to his poor credit! Aside from moving up the corporate ladder, we ran through a Joe Sixpack scenario that was over $800 a MONTH difference for a modest, blue collar, double income family. Here's the math; $800 a month times 12 months = $9600. Over ten years that is nearly $100,000!

Forget financial planning, show me how to maintain a good credit score! The class had a ton of great consumer information and tips that I need to validate and distill into a blog format. More great anti-credit bureau conspiracy theory to follow!

Here's some info directly from the site www.AnnualCreditReport.com ...

What is a credit score?

 

Here's the link to the most recent Minneapolis Association of Realtors. This month's Twin Cities MLS market stats show the doom and gloom of the local market conditions. The sky is falling, our economy is heading into a recession, home prices are in a free fall, blah, blah, blah.

http://www.mplsrealtor.com/Segments/Realtors/mhs_2008_01.pdf

Here's my take on the recent stats; If you look at pages 6 and 7 of the report the bottom chart shows the historic fluctuations of the median and average sales prices. Yes there are monthly fluctuations!  Last year nearly 40,000 properties sold in the Twin Cities. The powers that be are predicting 41,000 to sell in 2008!  Yes the numbers are down from 2004 and 2005. However, there are different homes selling. The foreclosure/REO/short sales have taken the place of the high dollar new construction and downtown condos.  Distressed sales are up 10-15 percent while new construction is down.  This might help explain the 10% drop in the MEDIAN sale price (mid-point). More bottom quartile properties are selling than the top quartile, thus pulling the numbers down. 

The long and the short of statistics it this; they are a generalization of the overall market.  Like people, no two homes are alike. Location, Location, Location plus Condition, Marketing and the Realtor navigating the journey will influence the outcome!

My glass is half full! Happy Valentine's Day!  xoxo

 

Our team has been hosting first time home buyer seminars for years. So we've put a twist on the buyer seminars.  We've had many questions and increased interest in how to buy a foreclosure, REO, short sale, vacant type property. With nearly 1 out of 4/5 homes on the market falling into this category we've had plenty of experience in the foreclosure arena.  Many of which are new construction or need minimal work to bring them back up to par. There are also the properties that have signs posted notifying anyone entering that the copper has already been removed! From the $20,000 mega fixer upper to the former model home, there are plenty of deals to be had in todays dynamic real estate market!

If you are interested in attending our next FREE class on  The Ins & Outs of Buying a Foreclosure.  You can register on-line at www.ForeclosureHomeFinder.com or call our office to ensure a seat...651-777-3434.

Topic that will be covered include;

• The foreclosure time-line
• How to find foreclosures, short sales, REO or vacant/abandoned properties
• The best financing options
• Understanding buyers rights to inspection and "as is"
• Special bank contracts
• Best negotiating strategies

Hope to see you there!

If you're looking for some fun outdoor activities this weekend, take a look at the Hudson Hot Air Affair. (www.HudsonHotAirAffair.com) One of the top hot air balloon events in the country!  This years' theme is Mardi Gras - should be a good time with the torchlight parade, jazz music, craft fair and fireworks!

Where else can you spend quality time in below freezing temps watching 50+ hot air balloons!

Or you could just stay inside and watch football!

Scott

 

 

2093 Gresham Avenue North
Offered at $167,500

 Perfect location for quiet and privacy! Immaculate two level prime end unit with two car garage and private patio. Lovely open floor plan with gas fireplace and large windows. Two spacious bedrooms upstairs including king-size master bedroom with walkthrough bath and huge walk-in closet. Upper level loft is great for office or sitting room. Convenient upper level laundry with full-size washer and dryer. 

This cute story was sent to me by a close friend...


To those of us who have children in our lives,  whether they are our own,....grandchildren,......nieces,.....nephews,.....or students...here is
something to make you chuckle.

Whenever your children are out of control, you can take comfort from the
thought that even God's  omnipotence did not extend to His own children.

After creating heaven and earth, God created Adam and Eve.

And the first thing he said was
"DON'T ! "  
 
"Don't what ? " Adam replied.

"Don't eat the forbidden fruit," God said.

"Forbidden fruit ? We have forbidden fruit ?  Hey Eve..we have forbidden fruit! "  

"No Way ! "

"Yes way ! " 

"Do NOT eat the fruit! " said God. 

"Why ? " 

"Because I am your Father and I said so ! " God replied, wondering why He hadn't stopped
creation after making the elephants.

 
A few minutes later,God saw His children having an apple break and He was
ticked !

"Didn't I tell you not to eat the fruit ? " God asked. 

"Uh huh," Adam replied. 

"Then why did you ? " said the Father.

"I don't know," said Eve.

"She started it ! " Adam said. 

"Did not ! "

"Did too ! " 

"DID NOT! "


Having had it with the two of them, God's punishment was that Adam and Eve should have children of their own.   Thus the pattern was set and it has never changed. 
 
BUT THERE IS REASSURANCE IN THE STORY !


If you have persistently and lovingly tried to give children wisdom and they
haven't taken it, don't be hard on yourself.

If God had trouble raising children, what makes you think it would
be a piece of cake for you?   

THINGS TO THINK ABOUT !

1. You spend the first two years of their life teaching them to walk and
talk. Then you spend the next sixteen telling them to sit down and shut up.

2. Grandchildren are God's reward for not killing your own children.

3.  Mothers of teens now know why some animals eat their young.  
 
4. Children seldom misquote you.  In fact, they usually repeat word for word
what you shouldn't have said.

5. The main purpose of holding children's parties is to remind yourself that
there are children more awful than your own.

6. We childproofed our homes, but they are still getting in.  

ADVICE FOR THE DAY:
Be nice to your kids. They will choose your nursing home one day.


Life Goes Better With Love and Laughter