Ahmed Elbatrawy, REALTOR

Re/Max Associates Plus Pro Team

7300 Frances Avenue

Minneapolis, MN 55435

Tel (952) 915-2220

Web-Site www.RemaxSearch.com

There are so many questions that come with process of purchasing a new home, so I wanted to take a day and talk about three important questions to ask yourself as you begin your search.

1.  How much can I afford?
The answer to this question has a lot to do with your income and the current amount of debt you have.  In general, most home buyers purchase a house that cost between 1.5 – 2.5 times their annual household income.  There is always a degree of variation due to the individual situations and specific market conditions.  There are many ways to come to an answer.  A quick and easy way is to use a home affordability calculator.  They are available online and simple to use – just input your information and calculate!  Here is a link to CNN’s online:

http://cgi.money.cnn.com/tools/houseafford/houseafford.html

2. Should I use an agent to buy a house?
Definitely.  Real Estate Agents are trained and licensed professionals that are consistently aware of changing market conditions.  We take an active interest in listening to your expectations of a home, and work to find you that perfect place to call home.  In addition, the services provided to the home buyer are usually free, paid for by the seller.  And finally, a Real Estate Agent is responsible for always acting in your best interest.

3.  How important is attending open house events?
Very important!  When you are planning to purchase a new home attending open houses can be a good way to find the home you want, or at the very least, to pick up useful ideas.  You may also have the opportunity to meet other new home buyers, giving you an opportunity to share ideas and learn new tips.

While there are many more questions to consider when beginning the search for your next home, I hope these three questions provide you with a starting off point.  As always, please feel free to contact me with any questions.

Have a great week!

Hello Minnesota!

With all of the often somber news being reported about the economy and housing markets lately, I thought it would be a perfect time to talk about all of the excitement and fun activities that happen in our great state of Minnesota!

While July is usually marked with wonderful tempuratures and summer vacations, it is also a great time to visit the ever-growing city of Minneapolis, espcially in late July.  This year, from July 17th-25th, Minneapolis and all of Minnesota will celebrate the 70th anniversary of the hugely popular Aquatennial Festival. 

Dating back 70 years to the last of the great Sioux warriors, Chief One Bull attended the inaugral event, and soon after, Awuatennial was proclaimed the Northwest's greatest summer festival, and one that should not be missed!  Famous guests and participants throughout the years have included Richard Nixon,  millionaire Percy Ross who reportedly through $16,500 of silver coins to the parade on-lookers, and television personality Bob Barker, who hosted a live episode of the 1950s hit gameshow "Truth or Consequences" at the Southdale Shopping Mall in Edina, Minnesota.

This year, free, stand-out events include:

• Senior Bowling Tournament
• Labor Neighborhood Block Party
• Twin Cities River Rats Water Ski Show
• and of course, the famous Torchlight Parade

1. Additional Minnesota homes will be built and become available to the public who needs them most.
2. The new home developments will create new jobs for residents of Minnesota who have been hit by the troubled economy.

1. Figure out how much you can afford.
2. Know your rights as a home buyer.
3. Shop for a loan.
4. Learn about home buying programs.
5. Shop for a home. 
6. Make an offer. 
7. Get a home inspection.
8. Shop for homeowner's insurance.
9. Sign papers.
10. Congratulations!  You are a homeowner!