Archive for the 'Twin City Sellers' Category
Hey, Little Miss Realtor, Don’t Even Think About Taking a Weekend Off! Here’s What Happens When A Realtor Tries to Takes a Vacation
May 8th, 2008 Categories: My Listings, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
I know that I shouldn’t complain. I received three purchase agreements in the last two days on three different properties that I have listed.
Trouble is, I’m taking a short vacation to go to Chicago to see my kids this weekend. I figure it’s Mom’s Day and the fishing opener here in Minnesota, so should be smooth sailing, right? NOT!
Not to mention, Read the rest of this entry »
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When Is No Feedback Feedback and When is Feedback No Feedback? How Some Twin City Area Realtors Answer My Request for Feedback
May 5th, 2008 Categories: Keller Williams, Minneapolis Home Buyers and Sellers, Real Estate News, Twin City Sellers
Fortunately for me, I have a nifty computer program to request feedback from Realtors who have shown my properties around the Twin Cities. It’s called ShowingDesk and it’s a real assistant to me. I can get the feedback published and send it off to my clients in a nifty little report. It goes to the agent who showed the property almost immediately after the showing. All they have to do is Read the rest of this entry »
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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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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 »
Maple Grove Real Estate - Current Housing Statistics - January, 2008
February 28th, 2008 Categories: Maple Grove Current Housing Statistics, Maple Grove Stuff, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
Here are the latest statistics from the Minneapolis Area Association of Realtors for Maple Grove. The chart explains itself, but in a nutshell, there were 4.3% less single family homes on the market in January this year than last year.
In January, many homes had their listing expire only to wait until after the holidays. The housing affordability has not been this good since 2004, according to the association. I believe that we’re near the end of the price cuts, too.
Ready, buyers?
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Plymouth, MN Residential Burglaries - How You Can Find Out About Them Quickly
February 22nd, 2008 Categories: Plymouth Police Department, Real Estate News, Twin Cities Real Estate Economy, Twin City Sellers
According to the Plymouth Police and Fire Department, it looks like Plymouth residents are getting their fair share of residential burglaries as of late. They have been occurring in the south side of the city (County Road 6 and Sunset Trail.) Forced entry is being made through garage service doors and rear entrances to unoccupied homes. These burglaries have occurred both during daytime (while people are at work) and during evening hours. Items such as cash and jewelry have been taken. Vehicles inside of garages are also being entered.
Here’s what you need to do to keep these
burglarsjerks at bay… Read the rest of this entry »| Discussion: No Comments »
Fed chairman Bernanke says nation’s business prospects have deteriorated
February 14th, 2008 Categories: Mortgage Stuff, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
Fighting to keep the U.S. economy afloat, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson will give Congress fresh insights into economic and financial conditions greatly strained by the Read the rest of this entry »
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Twin Cities Area New Construction Auction - What Happened?
February 2nd, 2008 Categories: My Listings, Real Estate News, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
One of my models in Otsego had the dubious distinction of being a part of the new construction auction that happened last weekend, January 26th and 27th.
The auction company called and instructed me to immediately de-list my property and sit out at the property at the beautiful Riverwood National Golf Course for two weekends in a row, both Saturday and Sunday from 12:00 p.m. to 4:00 p.m. to greet visitors that would want to buy the home.
OK. I did that. Why? Because I have other models out there and I am dedicated to my client, the builder, Hermanson Homes.
I never heard a word from the auction company as to whether or not the home sold. I’m thinking it didn’t.
At least my builder doesn’t think it did. He didn’t know, either.
There was a total disconnect among the auctioneer, the builder and the lowly Realtor (me) who spent 16 hours worth of her (my) time.
Not to mention, I went online to see what this was all about and turns out the model was listed as a two bedroom/two bath home. It was a three bedroom/three bath home! Now, come on! That’s not a good marketing ploy!
I would love to hear how the whole auction turned out. I saw the “crowd” sitting in the auditorium at the Minneapolis Convention Center and it was very sparse, to say the least. That was the Saturday bunch. Never heard about Sunday.
Let’s put it this way, the house is still sitting there and, if it sold, I’d love to hear about it as fast as I heard that I had to de-list it!
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St. Louis Park Real Estate - Housing Statistics - December, 2007
January 29th, 2008 Categories: Real Estate News, St. Louis Park Current Housing Statistics, Twin Cities Home Buyers, Twin Cities Real Estate Economy, Twin City Sellers
Here are the latest statistics from the Minneapolis Area Association of Realtors for St. Louis Park. The chart explains itself, but in a nutshell, there were 36% more single family homes on the market in December this year than last year. That’s the same as November.
In December, many homes will have their listing expire only to wait until after the holidays. The housing affordability has not been this good since 2004, according to the association. I believe that we’re near the end of the price cuts, too.
Ready, buyers?
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