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Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN
  • Richfield Home Sellers: Want To Rent Out Your Home?

    Posted Under: Home Selling in Richfield, Financing in Richfield  |  February 17, 2012 1:33 PM  |  793 views  |  No comments
    Many Richfield home sellers are challenged with the problem of owing more on their home loans than what their property is worth in today's market. The fact is that in order to sell your property in the Minnesota real estate market you need to be able to pay off your entire mortgage loan in order to sell it. Unless you want to arrange a "short sale" with your mortgage lender, this means you will bring money to the closing table to pay off the remaining balance owed. Many home sellers who need to move now are considering the possibility of making their current home available to rent with the hope of buying a new house.

    The good news today is that with the tougher mortgage market, the amount you can get for rent has increased significantly. Renters find that they are competing with each other to rent out a Richfield home as their is a shortage of quality home rentals available today. Many people are finding that they can more than cover the expenses for retaining the home with these increased rents.

    The goal, of course, is to rent the old home out long enough to allow the real estate market to recover in terms of values. Hopefully within a few years the value of your rental home will rise sufficiently to sell it for enough to pay off the mortgage. The key to accomplishing this is to see if you will qualify for a new mortgage if you have rented out your current home.

    Lenders have guidelines for the Richfield sellers who have made the decision to rent out their house to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.

    Getting Preapproved

    Once we meet to discuss your home's current market value it is critical that you go through the process of getting prequalified for a home loan. Your MN mortgage lender can help you discover whether you should rent out or sell your current house. The process of mortgage preapproval is is usually free and contains no loan obligation. A good mortgage banker will be able to analyze all of the options available to you such as MN FHA loans, VA, conventional, or other types of loans.

    City of Richfield

    A popular city for the Minnesota first time home buyer to find affordable real estate for sale, Richfield has a robust real estate market. Fortunate to be the home to the world headquarters of Best Buy Company, Richfield has been the place of some of the highest job growth numbers in the Twin Cities metropolitan area. As an inner ring suburb, residents in Richfield also have a quick commute to major employers in either Minneapolis or St. Paul. If you are thinking of buying or selling real estate in Richfield please pick up the phone and give me a call.

    If you are considering renting out your current home, please email me for more information.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Selling Your Richfield Home In Today's Real Estate Market

    Posted Under: Home Selling in Richfield, Financing in Richfield  |  January 12, 2012 7:23 AM  |  416 views  |  No comments
    Selling a home today in Richfield can be a big challenge, especially with the tough competition from nearby short sales and foreclosures. Real estate values have been declining in part because of the lower asking prices offered through banks who need to bring down their real estate owned inventory. About half of the sales in today's Minnesota real estate market has come from traditional home sellers. Are you searching for help to sell your home in Richfield?

    It has never been more important to enlist the help of a Richfield real estate agent who studies recent trends in Twin Cities market values. When we visit your home as a Realtor to complete a market analysis, we will compare all of the features of your home to the competing homes for sale in your neighborhood. We will need to look at all of the homes for sold within the past few months to determine what the actual sales prices have been. By doing so we can estimate what price a home buyer might pay for your home listing within a reasonable period of time on the market.

    The big challenge for many home sellers today is trying to get enough for their house to pay off the current mortgage on their home. If a property seller owes more on their home loans than what we can sell it for we will either need to discuss paying down the mortgage, attempting a short sale, or listing the current home for rent and in order to move to another home. With rising rents in the market home sellers are quite often finding that they can cover all of the investment expenses for the home through the income from the rental.

    Lenders have specific guidelines for those Richfield sellers who will rent out their home to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.

    Once we meet to discuss the value of your old home it is critical that you go through the process of getting preapproved for mortgage financing on another home. Your mortgage broker can help you decide which of the options are best whether renting or selling your current house. The process of getting preapproved is is usually free and contains no loan obligation. A good lender will be able to examine all of the options available to you such as through MN FHA loans, Conventional, VA, or other types of mortgage financing.

    Richfield Community Info

    A popular city for the Minnesota first time home buyer to find affordable real estate for sale, Richfield, MN represents an excellent value in today's real estate market. Home to the world headquarters of Best Buy Company, Richfield has experienced some of the highest job growth numbers in the metropolitan area. As an inner ring suburb to the Twin Cities, residents in Richfield also have a quick commute to major employers in either Minneapolis or St. Paul. If you are thinking of buying or selling real estate in Richfield please send me an email or give me a call.

    If you think you want to learn more about selling your Richfield home call me. I will work with you to complete a competitive market analysis at no obligation to you. We will discuss your options available in the market today. Feel free to email or call me.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Closing Costs: Will A Seller Pay Them?

    Posted Under: Home Buying in Minnesota, Home Selling in Minnesota, Financing in Minnesota  |  January 11, 2012 10:21 AM  |  452 views  |  No comments

    Many Minnesota first time home buyers hold back from buying a home because they think they have not saved enough cash to buy the home. However, by using a negotiating strategy in which you ask the seller to pay your closing costs you can reduce the amount you need to buy the home by several thousand dollars. This has become commonplace and is included in most purchase agreements today.

    One thing you should know is that bank-owned properties will almost always limit how much they will pay towards the buyer's closing costs. If you buy a traditional sale (owned by a regular home seller) we can quite often negotiate for the seller to pay all of your costs. With either a foreclosure or a short sale however you will generally need to cover some of the costs on your own. If you qualify for a Minnesota down payment assistance programs this can usually be used to offset some of the remaining closing costs.

    Whether you are a first time home buyer or have a home to sell I want to help you achieve your goals There may never be a better time to buy with reduced property values and record low interest rates. Homes are selling much faster this year than last so now is a good time to buy. Please take the time to call or email me.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Selling Your Como Park Home Today

    Posted Under: Home Selling in Saint Paul, Financing in Saint Paul  |  December 20, 2011 6:38 AM  |  484 views  |  No comments
    Selling a home today in Como Park can be a big challenge, especially considering that nearly half of the competitive listings are short sales or foreclosures. Market values have been reduced in part because of the low sales prices offered by banks who need to unload their inventory of their real estate owned. Roughly half of the closed sales in the curret MN real estate market has resulted from "traditional" home sellers. Are you searching for help to sell your Como Park home?

    Use a Como Park Real Estate Agent To Sell Your Home

    It has never been more important to enlist the help of a Como Park real estate agent who understands the recent trends in Como Park market values. When we come out and visit your property to complete a Competitive Market Analysis (CMA), we will compare your home to all of the recent sales in your neighborhood. We will need to look at all of the homes for sold within the past few months to see what the actual sales prices have been. In so doing we can estimate what type of price a home buyer might pay for your house within a reasonable period of time.

    The big challenge for many home sellers today is trying to get enough for their home to pay off the existing mortgages on their home. If a seller owes more on their mortgages than what the can sell it for we will either need to talk about paying the mortgages down, attempting a short sale, or listing the current home for rent and in order to move to another home. With the quickly rising rents in today's market, sellers are quite often finding that they can cover all of the resulting expenses for the house through their renter's income.

    Will Rental Income Help Me Qualify?

    Lenders have guidelines for the Como Park sellers who have decided rent out their home in order to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.

    Once we meet to discuss your home's current market value it is critical that you go through the process of getting prequalified for a home loan. Your mortgage broker can help you decide whether you should rent out or sell your current house. The process of getting preapproved is free, and if you decide not to proceed, there is no obligation to borrow money. A good lender will be able to examine all of the options available to you such as MN FHA loans, Conventional, VA, or other types of mortgage loans.

    The Como Park neighborhood is located in the northwestern part of St. Paul along the city limits in the north. It is bounded by the communities of Falcon Heights and Roseville on the west and north. Nearly two million visitors are attracted to the Como Zoo and Conservatory every year. With a variety of affordable Como Park homes for sale, this is a great place for MN first time home buyers.

    Do You Want To Get Started?

    If you want to learn more about selling your Como Park home call me. I will create a competitive market analysis at no obligation to you. We will discuss all of the options based on today's real estate market. Feel free to send me an email or call me.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Closing Costs: Will A Seller Pay Them?

    Posted Under: Home Buying in Minnesota, Home Selling in Minnesota, Financing in Minnesota  |  December 13, 2011 6:07 AM  |  615 views  |  No comments
    Many Minnesota first time home buyers hold back from buying a home because they think they have not saved enough cash to buy the home. However, by using a negotiating strategy in which you ask the seller to pay your closing costs you can reduce the amount you need to buy the home by several thousand dollars. This has become commonplace and is included in most purchase agreements today.

    One thing you should know is that bank-owned properties will almost always limit how much they will pay towards the buyer's closing costs. If you buy a traditional sale (owned by a regular home seller) we can quite often negotiate for the seller to pay all of your costs. With either a foreclosure or a short sale however you will generally need to cover some of the costs on your own. If you qualify for a Minnesota down payment assistance programs this can usually be used to offset some of the remaining closing costs.

    Whether you are a first time home buyer or have a home to sell I want to help you achieve your goals There may never be a better time to buy with reduced property values and record low interest rates. Homes are selling much faster this year than last so now is a good time to buy. Please take the time to call or email me.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • Rosemount Home Sellers: Meeting The Challenge of Today's Market

    Posted Under: Home Selling in Rosemount, Financing in Rosemount  |  December 7, 2011 6:12 AM  |  611 views  |  No comments
    If you are selling a home in Rosemount today you will find it can be quite a challenge, especially considering that nearly half of the competitive listings are short sales or foreclosures. Real estate values have been declining in part because of the lower asking prices offered through banks who need to bring down their real estate owned inventory. Roughly half of the closed sales in the curret MN real estate market has resulted from "traditional" home sellers. Are you searching for help to sell your home listing in Rosemount?

    Perhaps it has never been more important to use a Rosemount real estate agent who studies recent trends in Twin Cities market values. When we visit your home as a Realtor to complete a market analysis, we will compare all of the features and benefits of your property to the competing homes for sale in the area. We need to look at all of the properties that have sold within the past few months to analyze what the actual sales prices have been. By doing this we will be able to estimate what price a buyer might pay for your home listing within a reasonable period of time on the market.

    The big challenge for many home sellers today is trying to get enough for their house to pay off the their current mortgage. If a seller owes more on their mortgages than what the can sell it for we will either need to talk about paying the mortgages down, going through the process of a short sale, or listing the current house for rent and in order to move to another one. With the rapidly rising rents in today's market home sellers are often finding that they can cover all of the expenses for the home through their renter's income.

    Lenders have specific guidelines to follow for those Rosemount home sellers who have made the decision to rent out their house to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.

    Once we meet to discuss your home's current market value it is critical that you go through the process of getting preapproved for a mortgage loan. Your MN mortgage lender can help you discover which of the options are best whether selling or renting out your current home. The process of getting preapproved is free, and if you decide not to proceed, there is no obligation to borrow money. A good mortgage lender will be able to analyze all of the financing options available to you such as MN FHA loans, VA, conventional, or other types of loans.

    Rosemount, MN as a Community

    The City of Rosemount continues to build on its small town character through neighborhood, school, and community activities. The Rosemount Park and Rec offers a wide variety of fun and leisure activities for any age. This is a peaceful community to raise a family in with a variety of high quality schools.

    Let's Talk!

    If you think you want to learn more about selling your Rosemount home call or email me. I will create a competitive market analysis at no obligation to you. We will discuss your options based on today's real estate market. Feel free to send me an email or give me a quick call.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
  • How To Rent Out Your Afton Home To Move

    Posted Under: Home Selling in Afton, Financing in Afton  |  November 28, 2011 7:18 AM  |  604 views  |  No comments
    Many home sellers in Afton are faced with the unfortunate problem of owing more on their home than what they can sell it for. The fact is that in order to sell your property in the Minnesota real estate market you need to be able to pay off your entire mortgage loan in order to sell it. Unless you want to arrange with your lender sell your home on a short sale, this means you will bring money to the closing table to pay off the remaining balance owed. As a result many home sellers in Afton who want to move are considering the possibility of making their current home available to rent with the hope of buying a new house.

    Afton Home Sellers: Can You Cover Your Expenses?

    The good news today is that with the tougher mortgage market, the amount you can get for rent has increased significantly. Renters find that they are competing with each other to rent out your home as their is a shortage of quality rentals available today. Many home sellers in this position are finding that they can more than cover the expenses for retaining the home with these increased rents.

    The goal, of course, is to rent the old home out long enough to allow the real estate market to recover in terms of values. Hopefully within a few years the value of your rental home will rise sufficiently to sell it for enough to pay off the mortgage. The key to accomplishing this is to see if you will qualify for a new mortgage if you have rented out your current home.

    Will rental income offset my mortgage payment when qualifying for a new mortgage?

    Lenders have specific guidelines to follow for those Afton home sellers who have made the decision to rent out their house to buy another. Depending on the equity that you have in your home, a mortgage lender may or may not consider the rental income you receive when they qualify you for the new mortgage. The only way to know this is to call a lender to get preapproved.

    Once we meet to discuss the value of your old home it is critical that you go through the process of getting prequalified for a home loan. Your mortgage lender can help you decide which of the options are best whether selling or renting out your current home. The process of preapproval is generally free and contains no loan obligation. A good mortgage banker will be able to analyze all of the options available to you such as MN FHA loans, Conventional, VA, or other types of mortgage loans.

    If you are looking for a true small town atmosphere in the Twin Cities area, you'll find your home in Afton, MN. With a population just under 3,000, you'll love the quaint main street in downtown Afton. This small town receives a fair amount of day-trip visitors year round due to being home of Afton State Park as well as Afton Alps, the largest ski area in the metro. Conveniently located in Washington County, Afton is a 20-25 minute commute from downtown St. Paul. If you're looking to buy or sell in Afton, MN, please give me a call.

    If you want to talk about renting out your current home, please email me for more information.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.


    www.scottschultz.remax-northcentral.com
    www.ourteam-remax.com
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