Wednesday, March 9, 2011
Tuesday, February 15, 2011
Everything Is Not As It Seems!!
Have you ever asked a question, gotten an answer and made all kinds of plans and decisions
based on that one answer.
I'm here to tell you that we've all been there.
In today's society it is so important to ask the right question in order to get the right answer.
An example would be this: What are the interest rates today?
I've learned that the lenders can no longer give you a straight forward answer.
They will usually need to have some questions of their own answered before quoting
a rate:
1.) What is your loan amount?
2.) Do you have sufficient funds to pay closing costs?
3.) What is your credit score?
Why so many questions to simply get an interest rate?
With so many changes in the lending business the banks need to be more aggressive in
seeking a qualified buyer. So many mortgages in the past have gone into foreclosure and many more homeowners are doing short sales. The bank is looking at all the risk factors with
you as a buyer. for instance if you have a high credit score i.e. 740 you are a lesser risk
and therefore you may receive credit toward a lesser interest rate.
If you do not have enough money to pay all the closing cost but can afford a higher payment
and have a good credit score you may choose to pay a little higher interest rate and pay less
money out of pocket for closing closing costs.
If you are confused all I can say is try to work with a credible mortgage lender and make sure your real estate knows something about mortgages.
If is far more important to surround yourself with knowledgeable people than to be an expert in all things.
Have you ever asked a question, gotten an answer and made all kinds of plans and decisions
based on that one answer.
I'm here to tell you that we've all been there.
In today's society it is so important to ask the right question in order to get the right answer.
An example would be this: What are the interest rates today?
I've learned that the lenders can no longer give you a straight forward answer.
They will usually need to have some questions of their own answered before quoting
a rate:
1.) What is your loan amount?
2.) Do you have sufficient funds to pay closing costs?
3.) What is your credit score?
Why so many questions to simply get an interest rate?
With so many changes in the lending business the banks need to be more aggressive in
seeking a qualified buyer. So many mortgages in the past have gone into foreclosure and many more homeowners are doing short sales. The bank is looking at all the risk factors with
you as a buyer. for instance if you have a high credit score i.e. 740 you are a lesser risk
and therefore you may receive credit toward a lesser interest rate.
If you do not have enough money to pay all the closing cost but can afford a higher payment
and have a good credit score you may choose to pay a little higher interest rate and pay less
money out of pocket for closing closing costs.
If you are confused all I can say is try to work with a credible mortgage lender and make sure your real estate knows something about mortgages.
If is far more important to surround yourself with knowledgeable people than to be an expert in all things.
Tuesday, February 8, 2011
Poised To Expansion
If anyone read the Minnepolis Tribune on Saturday you have read that Ron Peltier, the CEO of Home Services of America parent company of Edina Realty and other real estate companies in 20 States is in the acquiring mode. There are no clear signs yet that the real estate market is
strengthening, however according to Mr. Peltier the time is coming to acquire other companies across the nation. Edina Realty is our local company and had over 33 billion in sales in it's Edina
Realty Region in 2010. When someone like Warren Buffett is at the helm you can't help but to be optimistic about the outcome. You and I have no idea of the process that these large investors
go through before they make a decision. I for one am going to trust their process.
I truely believe that we are close to the bottom and will be there really soon.
Irregardless, once at the bottom all indications are that we will remain at this leveled off stage for quite some time.
The bottom line is that if you are thinking that the market will come back and you will recover your losses in a couple of years you may want to re-think this. With the job market, the national debt and trouble overseas it will be a long time before we see any real appreciation.
If Kari or I can help you in your present housing situation a phone call is all it takes.
Real Estate is our business and we have the experience to help you.
Call us at 651-353-9838 or 651-470-0709
strengthening, however according to Mr. Peltier the time is coming to acquire other companies across the nation. Edina Realty is our local company and had over 33 billion in sales in it's Edina
Realty Region in 2010. When someone like Warren Buffett is at the helm you can't help but to be optimistic about the outcome. You and I have no idea of the process that these large investors
go through before they make a decision. I for one am going to trust their process.
I truely believe that we are close to the bottom and will be there really soon.
Irregardless, once at the bottom all indications are that we will remain at this leveled off stage for quite some time.
The bottom line is that if you are thinking that the market will come back and you will recover your losses in a couple of years you may want to re-think this. With the job market, the national debt and trouble overseas it will be a long time before we see any real appreciation.
If Kari or I can help you in your present housing situation a phone call is all it takes.
Real Estate is our business and we have the experience to help you.
Call us at 651-353-9838 or 651-470-0709
Wednesday, February 2, 2011
Hastings Real Estate
January has been unusually busy as far as inquiries in buying houses. The buyers have lots of properties they can look at and the are!
In this market many buyers think they can look at a foreclosure property and still offer
10 to 20% less than asking. I'm here to tell you that if indeed the property is bank owned and it has just come on the market you will not be able to buy at that much of a reduced price.
The bank has had an appraisal and priced the property within the market range of that appraisal. Many of these homes need new roofs, wiring and/or other fix-up items. This has been taken into consideration already.
The only time you could buy at such a reduction is after the property has been on for quite some time, the bank has probably received offers that are considerably lower than asking and they are now ready to concede to the lower value. If a property appears to be a bargain to you when you look at it, make a reasonable offer and count your blessings.
You can spend many hours looking for a steal, wasting precious time (interest rates could go up or values could start to rise) and have nothing.
There is a difference between and deal on a property and stealing a property.
You choose, but I can guarantee you will not steal very many properties.
Prices have not been this low in many many years. We will soon be on the bottom and prices will
eventually go up. If you buy at the bottom you are a winner!
In this market many buyers think they can look at a foreclosure property and still offer
10 to 20% less than asking. I'm here to tell you that if indeed the property is bank owned and it has just come on the market you will not be able to buy at that much of a reduced price.
The bank has had an appraisal and priced the property within the market range of that appraisal. Many of these homes need new roofs, wiring and/or other fix-up items. This has been taken into consideration already.
The only time you could buy at such a reduction is after the property has been on for quite some time, the bank has probably received offers that are considerably lower than asking and they are now ready to concede to the lower value. If a property appears to be a bargain to you when you look at it, make a reasonable offer and count your blessings.
You can spend many hours looking for a steal, wasting precious time (interest rates could go up or values could start to rise) and have nothing.
There is a difference between and deal on a property and stealing a property.
You choose, but I can guarantee you will not steal very many properties.
Prices have not been this low in many many years. We will soon be on the bottom and prices will
eventually go up. If you buy at the bottom you are a winner!
Monday, January 24, 2011
A Fresh Start!
This past year has been a blur in trying to figure out where and how to get information to you. So with that said, we are activiating our "Fresh Start". We have great intentions of being more up to date on our blog. It has been a challenging year of short sales and forclosures. Everyday is a new day with new information and challenges and we are here to keep you up to date and post new info as it comes to us.
So here it goes, a GREAT article from Twin Cities Business Blog for our fresh start!
01/11/2011
Forbes: Twin Cities Among Best Job Markets in U.S.
With roughly three job seekers per opening, the area’s employment is expected to recover fully by mid-2011.
The Minneapolis-St. Paul metro area has been named one of the nation’s top job markets, according to a report released by Forbes. The metro area placed fourth in the rankings, which were released last week—trailing only Washington, D.C.; Boston; and Austin, Texas.
According to Forbes, the Twin Cities’ employment is expected to recover fully by mid-2011, far earlier than a national recovery, as found by a recent Moody’s Economy.com analysis of the region.
Job growth is mostly expected in manufacturing and professional services like accounting. The Mall of America, a retail and tourist destination that is expanding, would also contribute to job growth in the region, according to the magazine.
Forbes reported that there are roughly three job seekers per advertised opening in the Twin Cities. The metro area’s unemployment rate is currently at 6.5 percent, whereas the national average is at 9.4 percent. Statewide jobless rate sits at 7.1 percent.
Topping Forbes’ list is the nation’s capital, with roughly one advertised job opening for every unemployed worker in the region, which includes parts of Maryland and Virginia.
Boston and Austin follow closely with job seekers per opening rates of 2.1 and 2.39, respectively. Las Vegas was the worst job market in the nation, with more than eight unemployed workers for every job opportunity posted online. Most of California and Florida’s major cities were close behind.
Forbes compiled its 2011 lists of America’s Best and Worst Job Markets with metro unemployment data from the U.S. Bureau of Labor Statistics, and job site Juju.com’s monthly Job Search Difficulty Index for major cities. Research firm Moody’s provided additional analysis for the trends in each labor market.
—Nataleeya Boss
So here it goes, a GREAT article from Twin Cities Business Blog for our fresh start!
01/11/2011
Forbes: Twin Cities Among Best Job Markets in U.S.
With roughly three job seekers per opening, the area’s employment is expected to recover fully by mid-2011.
The Minneapolis-St. Paul metro area has been named one of the nation’s top job markets, according to a report released by Forbes. The metro area placed fourth in the rankings, which were released last week—trailing only Washington, D.C.; Boston; and Austin, Texas.
According to Forbes, the Twin Cities’ employment is expected to recover fully by mid-2011, far earlier than a national recovery, as found by a recent Moody’s Economy.com analysis of the region.
Job growth is mostly expected in manufacturing and professional services like accounting. The Mall of America, a retail and tourist destination that is expanding, would also contribute to job growth in the region, according to the magazine.
Forbes reported that there are roughly three job seekers per advertised opening in the Twin Cities. The metro area’s unemployment rate is currently at 6.5 percent, whereas the national average is at 9.4 percent. Statewide jobless rate sits at 7.1 percent.
Topping Forbes’ list is the nation’s capital, with roughly one advertised job opening for every unemployed worker in the region, which includes parts of Maryland and Virginia.
Boston and Austin follow closely with job seekers per opening rates of 2.1 and 2.39, respectively. Las Vegas was the worst job market in the nation, with more than eight unemployed workers for every job opportunity posted online. Most of California and Florida’s major cities were close behind.
Forbes compiled its 2011 lists of America’s Best and Worst Job Markets with metro unemployment data from the U.S. Bureau of Labor Statistics, and job site Juju.com’s monthly Job Search Difficulty Index for major cities. Research firm Moody’s provided additional analysis for the trends in each labor market.
—Nataleeya Boss
Monday, June 22, 2009
Wow! It's been too long!
Well what can I say? It has been one heck of a road in the Real Estate Market lately. We can barely keep up with all the activity. I guess I put the blog on hold for awhile. With all the extra work going into every home purchase it is keeping us so busy. I believe now more that ever buyers need to be choosy on their agent. It's not just about selling the home it is more about Closing it. If you do not have an experienced agent to get the deal closed you are no better off that just listing your home. Lucky I have a partner that has been in the business 34 years and know all aspects of the job. It is a new problem everyday in this trying market but I have the Best of the best on my team!!! Now on to some fun! We took some very appreciated time off last week and it definately paid off! Everyone needed a little breather. So I decided to post a bit of the fun!
Monday, April 6, 2009
Happy Easter!
Just wanted to wish everyone a Happy Easter. As things have been picking up lately with the new tax credit in effect, my time at the computer to update has become more limited. I figured that I would try to be ahead of the game just in case.
In the Real Estate world we never know when there will be a extra minute. This of course is a good thing with the economy lately. Things are sure hoppin lately, our office alone sold 19 homes last month and listed 26 homes. There are many deals out there right now, and so many financing options to help. If you know anyone that is on the fence about buying, please tell them to give us a call. We would love to sit down with them and explain all the benefits of buying in this market.
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