Blaine: New City Manager Sees Bright Future
Crookston native Clark Arneson was stunned to learn that in one of Minnesota's fastest-growing communities, you can still hunt deer and ride snowmobiles! After working 20 years in Bloomington, Arneson comes to the Anoka County suburb that seems to have it all: established commodities in the National Sports Center and TPC golf course, open land, close proximity to the cities and an airport that's undergoing a $35 million refurbishing. Once considered the future home of the new Vikings stadium and the $1.6 billion Northern Lights complex, Blaine is moving in a new direction.
Monday, April 28, 2008
Thursday, April 24, 2008
Curb Appeal: 17 Ways to Get Buyers Inside the Home
We all have had that experience where you drive up to a house and don’t even want to go inside. It’s an immediate “un-appeal.” In today’s market where lots of choices in housing are available, why should they?
Here are some easy, inexpensive fixes that will help create that outside appeal and get you one, giant step further to a sale.
1. Paint or stain the front and garage doors, especially if they show any weathering. These are the first visuals where a potential buyer focuses. If garage doors are metal and dented, they may need to be replaced.
2. Any old, basically abandoned sheds or small structures, must be removed, the area graded and the grass replaced.
3. Change any dated, outside light fixtures.
4. Fix that driveway. If it is blacktop, make sure cracks and crumbling areas are dug out and filled and then the whole driveway sealed. If it is cement, have large cracks filled and repaired professionally. The buyer must at least feel they can drive the moving truck in confidently!
5. Make sure landscaping bricks are in their proper placement. Mowing, weed-whipping sometimes moves them and this is something the homeowner rarely notices, but makes the property look unsightly.
6. Fill in bare dirt under large shade trees. Plant shade-tolerant plants in defined planters or groundcover. Landscape properly for that area.
7. All landscaping beds should be cleaned out and updated for the time of year it is in your region. Place new bedding material down.
8. Have trees and bushes pruned and trimmed. If a bush or tree is looking old or about to expire, remove it and replace it with a similar size and type if you can. If there is a tree limb(s) over the roof, have them removed.
9. If the house needs painting and a full paint job is not in the cards; have it touched up professionally in the worst, most visible spots. Paint shutters and fix them if they are hanging crooked. At least this may help get your client in the front door, even if they negotiate a full paint job into the sale later.
10. If the house is sided, have it power-washed and have gutters and windows cleaned. Window cleaning inside and out makes the house feel updated and fresh, rather than old and dingy.
11. Make sure grass is in good shape, weeds are removed, trimming done regularly. So many sellers fall down on this job the minute the house is listed, and this is critical to selling a house quickly, especially one where the owners have already moved out. In snowy climates, removal must be done regularly too. If owners have moved out, make sure you have an HWA Home Warranty to re-assure buyers.
12. Keep garbage and recycle containers inside the garage, along with all toys and equipment. Make sure the garage is neat and organized. Painted walls and floors also go a long way in this area and are inexpensive to do.
13. Decks should be washed and repainted or re-sealed; plantings around them cleaned, weed-free and looking good. Patio furniture should be in excellent condition. Even though it is in the backyard, this is the area where the family can envision enjoying the warm days and the new yard.
14. If the roof has missing shingles and they can be replaced inexpensively, suggest this be done as it may save negotiation over a completely new roof. Roof repair needs and costs should be minor or the homeowner might as well replace the entire roof.
15. If the homeowner wants to do a bit more, suggest solar lights lining the driveway or installing a more attractive front door with lead glass inserts and replacing plain doorknobs with something more custom.
16. If you have an evening showing, make sure lights are on outside and inside the house. This is warm and inviting.
17. If it’s a holiday season, by all means decorate the home! Just like sugar cookies or vanilla scent on the inside of the house, this really says “it’s a home” and I can see myself enjoying life here! In the least, always have some greenery or flowers for the season on the front step or porch; even a birdbath with a little garden around it says home.
Remember, most home buyers cannot visualize even these simple changes and clean ups in a house and the ones who can, will be looking for a reduced price. So to sell the house at top dollar and quickly, make it “appeal” to the many who will be seeing it rather than the few who are looking for a “fixer upper.” These people know what they want, go after it and need less assistance.
Finally, have neighbors or friends look at the finished results to see if you or the home owner has missed anything key that would be quick and easy to do. Use this article in your listing presentations so they can get started right away on these easy, inexpensive fixes and adapt the ideas to their home. When that home looks fabulous, update that picture on the Internet! This is especially important if the season has changed too and it’s a reward to your client too!
We all have had that experience where you drive up to a house and don’t even want to go inside. It’s an immediate “un-appeal.” In today’s market where lots of choices in housing are available, why should they?
Here are some easy, inexpensive fixes that will help create that outside appeal and get you one, giant step further to a sale.
1. Paint or stain the front and garage doors, especially if they show any weathering. These are the first visuals where a potential buyer focuses. If garage doors are metal and dented, they may need to be replaced.
2. Any old, basically abandoned sheds or small structures, must be removed, the area graded and the grass replaced.
3. Change any dated, outside light fixtures.
4. Fix that driveway. If it is blacktop, make sure cracks and crumbling areas are dug out and filled and then the whole driveway sealed. If it is cement, have large cracks filled and repaired professionally. The buyer must at least feel they can drive the moving truck in confidently!
5. Make sure landscaping bricks are in their proper placement. Mowing, weed-whipping sometimes moves them and this is something the homeowner rarely notices, but makes the property look unsightly.
6. Fill in bare dirt under large shade trees. Plant shade-tolerant plants in defined planters or groundcover. Landscape properly for that area.
7. All landscaping beds should be cleaned out and updated for the time of year it is in your region. Place new bedding material down.
8. Have trees and bushes pruned and trimmed. If a bush or tree is looking old or about to expire, remove it and replace it with a similar size and type if you can. If there is a tree limb(s) over the roof, have them removed.
9. If the house needs painting and a full paint job is not in the cards; have it touched up professionally in the worst, most visible spots. Paint shutters and fix them if they are hanging crooked. At least this may help get your client in the front door, even if they negotiate a full paint job into the sale later.
10. If the house is sided, have it power-washed and have gutters and windows cleaned. Window cleaning inside and out makes the house feel updated and fresh, rather than old and dingy.
11. Make sure grass is in good shape, weeds are removed, trimming done regularly. So many sellers fall down on this job the minute the house is listed, and this is critical to selling a house quickly, especially one where the owners have already moved out. In snowy climates, removal must be done regularly too. If owners have moved out, make sure you have an HWA Home Warranty to re-assure buyers.
12. Keep garbage and recycle containers inside the garage, along with all toys and equipment. Make sure the garage is neat and organized. Painted walls and floors also go a long way in this area and are inexpensive to do.
13. Decks should be washed and repainted or re-sealed; plantings around them cleaned, weed-free and looking good. Patio furniture should be in excellent condition. Even though it is in the backyard, this is the area where the family can envision enjoying the warm days and the new yard.
14. If the roof has missing shingles and they can be replaced inexpensively, suggest this be done as it may save negotiation over a completely new roof. Roof repair needs and costs should be minor or the homeowner might as well replace the entire roof.
15. If the homeowner wants to do a bit more, suggest solar lights lining the driveway or installing a more attractive front door with lead glass inserts and replacing plain doorknobs with something more custom.
16. If you have an evening showing, make sure lights are on outside and inside the house. This is warm and inviting.
17. If it’s a holiday season, by all means decorate the home! Just like sugar cookies or vanilla scent on the inside of the house, this really says “it’s a home” and I can see myself enjoying life here! In the least, always have some greenery or flowers for the season on the front step or porch; even a birdbath with a little garden around it says home.
Remember, most home buyers cannot visualize even these simple changes and clean ups in a house and the ones who can, will be looking for a reduced price. So to sell the house at top dollar and quickly, make it “appeal” to the many who will be seeing it rather than the few who are looking for a “fixer upper.” These people know what they want, go after it and need less assistance.
Finally, have neighbors or friends look at the finished results to see if you or the home owner has missed anything key that would be quick and easy to do. Use this article in your listing presentations so they can get started right away on these easy, inexpensive fixes and adapt the ideas to their home. When that home looks fabulous, update that picture on the Internet! This is especially important if the season has changed too and it’s a reward to your client too!
Monday, April 21, 2008
Metro: Development And Defiance On Metro's Final Frontier
Julie Zignego is one of thousands of landowners caught in a growth boom along I94 from 494 to Hudson, wondering whether she should sell her land to developers. The rural suburbs thought they would never be as congested as 'another Woodbury', but by 2030, Washington county is expected to have 165,000 new residents--which is like three Woodburys! while most farmland in the area sells for about $9,000 an acre, farmland near the freeway is now worth 10 times that. Zignego's neighbor sold his 121 acre farm to a developer for $8 million that he had bought five years ago for $250,000. The growth is spreading millions of dollars unevenly, creating jealousy and anger. It is turning sleepy towns into battlegrounds for developers and preservationists. Neighbors are pitted against neighbors, builders against farmers and towns against their oldest residents, who's way of life was set in the 1800's.
Thursday, April 17, 2008
Current Housing Market Favors Buyers
Happy Spring!
The Minneapolis Area Association of REALTORS® (MAAR) just reported that the Housing Affordability Index jumped to 155 in early April, a 10.9 percent increase over April 2007. This means that home ownership is well within the means of the average home buyer in the Twin Cities metro area.
Interest rates are still at historic lows, which is giving consumers more buying power. Fixed-rate conforming loans with no points are being offered by local lenders with rates in the high 5 percent range for 30-year loans and in the low-5 percent range for 15-year loans.
The recent interest rate cuts and subsequent reductions in mortgage rates are significantly improving prospective homebuyers’ ability to afford a home, and are allowing them to purchase more amenities in a home than they thought possible. For example, with a 1.5 percent reduction in interest rates on a $250,000 home, a buyer could purchase a home that costs 14.5 percent more (with 80 percent financing and using the same down payment).
Another positive development is the economic stimulus package that will give consumers a welcome rebate and that raises the FHA loan limits on homes bought through the end of the year. In the 13-county metro area, the FHA limit for one unit was increased from $271,050 to $365,000, in Cook County (Minnesota) it was increased to $296,250, and in other parts of the state it was increased to $271,050. FHA loans are a great alternative to sub-prime loans, and the higher limits should provide more options for consumers and allow even more first-time homebuyers to enter the market.
Our area also has a large supply of homes for sale, which is giving buyers more choice. The inventory levels are the strongest for starter homes, which is great news for first-time home buyers. According to MAAR, in early April compared to April 2007 there were 150.3 percent more homes priced under $120,000, 55.8 percent more homes prices from $120,001 to $150,000, and 21.2 percent more homes priced from $150,001 to $190,000.
A recent issue of Time magazine included a story entitled “Ignore the Headlines” by Dan Kadlec that confirmed that now is an ideal time to purchase a home. The author referred to the renowned money manager Peter Lynch and noted that in Lynch’s view, “A top reason to not buy stocks is if you don’t already own a home—in which case that should be your first investment, since an owner-occupied home is nearly always profitable.” The article noted, “Let’s say you are emotionally ready to be a homeowner. You have good credit, plan to stay put for five years and have been waiting for the perfect entry point. It’s time to get serious—before an inevitable rise in interest rates wipes out your advantage.”
So the message to prospective homebuyers is clear. There is a plentiful supply of homes for sale, financing is available at attractive rates, homes in our area are affordable, and higher loan limits are giving buyers even more options including the ability to purchase a higher priced home. Buyers need to act now so they will be able to enjoy the best of all possible circumstances.
The Minneapolis Area Association of REALTORS® (MAAR) just reported that the Housing Affordability Index jumped to 155 in early April, a 10.9 percent increase over April 2007. This means that home ownership is well within the means of the average home buyer in the Twin Cities metro area.
Interest rates are still at historic lows, which is giving consumers more buying power. Fixed-rate conforming loans with no points are being offered by local lenders with rates in the high 5 percent range for 30-year loans and in the low-5 percent range for 15-year loans.
The recent interest rate cuts and subsequent reductions in mortgage rates are significantly improving prospective homebuyers’ ability to afford a home, and are allowing them to purchase more amenities in a home than they thought possible. For example, with a 1.5 percent reduction in interest rates on a $250,000 home, a buyer could purchase a home that costs 14.5 percent more (with 80 percent financing and using the same down payment).
Another positive development is the economic stimulus package that will give consumers a welcome rebate and that raises the FHA loan limits on homes bought through the end of the year. In the 13-county metro area, the FHA limit for one unit was increased from $271,050 to $365,000, in Cook County (Minnesota) it was increased to $296,250, and in other parts of the state it was increased to $271,050. FHA loans are a great alternative to sub-prime loans, and the higher limits should provide more options for consumers and allow even more first-time homebuyers to enter the market.
Our area also has a large supply of homes for sale, which is giving buyers more choice. The inventory levels are the strongest for starter homes, which is great news for first-time home buyers. According to MAAR, in early April compared to April 2007 there were 150.3 percent more homes priced under $120,000, 55.8 percent more homes prices from $120,001 to $150,000, and 21.2 percent more homes priced from $150,001 to $190,000.
A recent issue of Time magazine included a story entitled “Ignore the Headlines” by Dan Kadlec that confirmed that now is an ideal time to purchase a home. The author referred to the renowned money manager Peter Lynch and noted that in Lynch’s view, “A top reason to not buy stocks is if you don’t already own a home—in which case that should be your first investment, since an owner-occupied home is nearly always profitable.” The article noted, “Let’s say you are emotionally ready to be a homeowner. You have good credit, plan to stay put for five years and have been waiting for the perfect entry point. It’s time to get serious—before an inevitable rise in interest rates wipes out your advantage.”
So the message to prospective homebuyers is clear. There is a plentiful supply of homes for sale, financing is available at attractive rates, homes in our area are affordable, and higher loan limits are giving buyers even more options including the ability to purchase a higher priced home. Buyers need to act now so they will be able to enjoy the best of all possible circumstances.
Monday, April 14, 2008
Metro Area: Surplus Sales Boost Housing Market
What Buyers are finding is a lot of choices and lots of room for negotiation! Plus, interest rates are still low so what has changed? Falling homes prices, and several houses on the market for every buyer, not the other way around. Stricter mortgage standards mean that lenders are verifying borrowing power. A year ago, no downpayment? No Problem! Today? Not so simple! MN Mortgage Association President Tom Bendel said 100 percent financing has all but disappeared. He advises borrowers with good credit seeking a conventional loan to come to the table with a 5 percent down payment. borrowers with credit scords below 700 may need a down payment in two figures. Where even poor credit could get you a house a year ago, buyers may need an FHA loan, with loan limits having been increased through the end of the year in the Metro to $365,000 (with the rest of the state at a $271,000 limit). A year ago, buyers could make an offer that sellers couldn't refuse. Today? Buyers take their time and offer 10 percent less but they need to count on their financials being thoroughly checked out. Buyers in today's market can afford to be conservative and buy smart.
Monday, April 07, 2008
Metro Area: Surplus Sales Boost Housing Market
What Buyers are finding is a lot of choices and lots of room for negotiation! Plus, interest rates are still low so what has changed? Falling homes prices, and several houses on the market for every buyer, not the other way around. Stricter mortgage standards mean that lenders are verifying borrowing power. A year ago, no downpayment? No Problem! Today? Not so simple! MN Mortgage Association President Tom Bendel said 100 percent financing has all but disappeared. He advises borrowers with good credit seeking a conventional loan to come to the table with a 5 percent down payment. borrowers with credit scords below 700 may need a down payment in two figures. Where even poor credit could get you a house a year ago, buyers may need an FHA loan, with loan limits having been increased through the end of the year in the Metro to $365,000 (with the rest of the state at a $271,000 limit). A year ago, buyers could make an offer that sellers couldn't refuse. Today? Buyers take their time and offer 10 percent less but they need to count on their financials being thoroughly checked out. Buyers in today's market can afford to be conservative and buy smart.
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