Archive for March, 2008
Milwaukee’s Finest - A Get-away Spot With a Big View
March 22nd, 2008 Categories: Cool Guys, Outside of the Box, Real Estate News, The Good Life
I miss the big lake.
Lake Michigan, that is.
To be land-locked is like living in a cage, of sorts. Always having lived in an area where I can go at the most 5 miles to reach a shore with a view, well, it’s the toughest part about living in the Twin Cities.
Don’t get me wrong! I love the Twin Cities! Everybody knows that!
Here’s a beautiful spot to resort to if you can swing it. This guy, Jim Colella of Garrison Partners, knows what he’s talking about. He’s lived in Detroit, Chicago and Milwaukee. All beautiful lake towns. Yes, even Detroit.
Here’s his latest gig…
http://www.thinkdandb.com/HomesPlus/Garrison/
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Ahhh…Finally, a Day Off! Cooking Up a Storm…The Day in the Life of a Busy Realtor
March 22nd, 2008 Categories: Home Style, Keller Williams, Maple Grove Stuff, My Listings, Outside of the Box, Real Estate News, Taste Minnesota, The Good Life, Twin City Sellers
After six weeks of sitting the Parade of Homes and taking care of my sellers, it’s finally Easter weekend.
OK, I spent four hours in the office today (ask Jen Crockett at my Keller Williams Market Center…I was there!) but I still felt like it was a bit of a vacation. I haven’t figured out why I feel that way. Maybe no appointments. Maybe I figured no one would call me. Maybe I figured everyone else was busy with their families for the Easter holiday weekend.
Here’s what I did when I got home at 3ish… Read the rest of this entry »
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Empty Houses in North Minneapolis are Demolition Candidates - Uhhh…Gee, Do Ya Think So?
March 17th, 2008 Categories: North Minneapolis, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
After viewing hundreds of homes in North Minneapolis with my clients and seeing the obvious decay of some homes, it’s clear that they should be demolished.
The main issues are serious mold intrusion, dilapidated flooring, walls and ceilings, buckling and cracking cement floors in the basement, roof rot and subsequent surrounding areas, such as soffits, venting, etc., etc., etc.
The Strib came out with this story today:
One estimate says a third of foreclosed homes in north Minneapolis should probably be demolished.
One-third of the foreclosed houses inspected so far in north Minneapolis are candidates for demolition, according to the agency trying to rehab the state’s largest concentration of empty housing.
Carolyn Olson of Greater Metropolitan Housing Corporation (GMHC) said her nonprofit housing organization has been inside 157 of the hundreds of foreclosed North Side homes. It’s evaluating them for fix-up and resale.
But many pose a range of problems, from neglect issues like rampant mold to functional obsolescence due to size or floor plan. Some simply cost too much to fix. One house the agency toured contained only 500 square feet of space — less than a standard one-bedroom public housing high-rise apartment — carved into four apartments.
“That’s probably not a keeper,” Olson said.
Some houses have caving retaining walls. One otherwise nice triplex was covered in mold, Olson said.
One reason for the neglect, Olson said, is that about two-thirds of the foreclosed homes were owned by investors rather than occupants. “Some of that has not been very well taken care of,” she said.
Olson’s one-third estimate sounds low to one neighborhood leader, Roberta Englund of the Folwell and Webber-Camden areas.
“I think she’s underestimating it, without a doubt,” said Englund, based on her walk-throughs of similar housing.
“This is an American nightmare,” said Rep. Keith Ellison, D-Minn. Ellison represents the area and organized a discussion of foreclosure and credit issues Monday.
The event began with a street-corner discussion at 29th and Dupont Avenues N., where adjoining blocks average six foreclosures each in the past two years.
Even when the house is fixable, fixing isn’t simple. Every one that GMHC has encountered so far requires extra financing, because the market price of the renovated house is less than the cost to acquire and bring it to saleable condition. The state allocated $10 million that is being used to buy the North Side housing, while the city and state finance the rehab work.
“If the market keeps going down, the gap will be bigger,” Olson said.
Despite the obstacles, GMHC has purchase agreements on 43 properties, with offers outstanding on another 16.
City Housing Director Tom Streitz said that a process is needed to guide the rehab vs. demolition decisions of nonprofits. “I’m hearing that a lot of the stock is not going to pass the test,” he said.
“We’re very careful on what we would tear down,” Olson said. She said some of the candidates for demolition may still attract offers from investor owners.
Mayor R.T. Rybak has said he’d like the city to have a right of first refusal on foreclosed housing.
Ellison touted legislation introduced by Rep. Barney Frank, D-Mass. It would provide up to $300 billion in new federal guarantees for loans that refinance at-risk borrowers into viable mortgages. It would also provide $10 billion in loans and grants for the purchase and rehab of foreclosed homes, similar to GMHC’s work.
Steve Brandt • 612-673-4438
My clients and I know what are “keepers” and what aren’t. And we don’t have to be rocket scientists (home/building inspectors) to figure it out. Let’s dump these dumps and restore this area back to it’s beauty, once again.
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Plymouth and Maple Grove: Where Did All the Restaurants Go…Big Changes in the Northwest Suburbs?
March 14th, 2008 Categories: Maple Grove Stuff, Real Estate News, Taste Minnesota, Twin Cities Real Estate Economy
The slow death of the Minneapolis suburban northwest restaurants.
Hopps, Doolittles, Krispie Creme, Friday’s, Rudolph’s in Plymouth, Green Mill in Maple Grove…what else? I can’t recall. Well, I know there are a lot more. Don’t feel like mentioning any more. Anyway, they’re goners.
When my husband, Tony, and I first moved to Minnesota, we used to go to Read the rest of this entry »
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It’s My Duty to Inform You - Why You Need to Buy a Home Now - Not Later!
March 6th, 2008 Categories: Mortgage Stuff, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy
While today’s market plays to their advantage, buyers, who should be swooping in to make the most of reduced housing costs and favorable interest rates, are sitting by, waiting.
It is up to me, as a competent and informed real estate agent, to mobilize my potential buyers to invest in home ownership now.
When the market turns, today’s bargains will be yesterday’s missed opportunities.
While it is conceivable that home prices may drop further, it is likely that these decreased prices will be accompanied by increased financing costs due to rate cuts by the Fed. This means that Read the rest of this entry »
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Minnesota Lawmakers Looking in to the Foreclosure Arena - What are Those Rascals Up to Now?
March 4th, 2008 Categories: Mortgage Stuff, North Minneapolis, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
Minnesota Lawmakers are working on assisting folks with their home foreclosures. Read the rest of this entry »| Discussion: No Comments »
Seven Steps To Buying Your Next Home - You now have no excuses! Here’s how to do it!
March 1st, 2008 Categories: Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy
Step One:
Define your needs.
Congratulations on your decision to purchase a new home! Before you go house hunting, Read the rest of this entry »
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