Home > Blogs > Scott Schultz's Blog
23,281 views

Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN
  • Golden Valley First Time Home Buyers: 3 Steps To Buying

    Posted Under: Home Buying in Golden Valley, Financing in Golden Valley  |  December 9, 2011 6:13 AM  |  443 views  |  No comments

    Want to buy your first home in Golden Valley?

    Are you thinking of buying your first house in Golden Valley? Many people who are renting today are realizing that the recent increase in rent payments is making Golden Valley more reasonable than ever before. With today's historic low interest rates and lower property values monthly payments on a home of your own in Golden Valley may be cheaper than what you are paying for rent! If you are a MN first time home buyer I would love the opportunity to talk with you about the possibilities.

    To take advantage of the benefits in today's Golden Valley home values, there are three easy steps to get started.

    Step 1: Finding Out What You Want

    There are more things to consider when buying a home than the monthly mortgage payment. I will want to discuss with you what your short and long term goals are for buying a house. After I learn more about what you want to achieve we will talk about the all of the types of homes for sale, as well as how to get a great value. Depending upon when you want to make the move we will talk about the benefits of buying your home from a traditional seller versus a short sale. After our discussion I will set up a listing search of all the homes that could possibly meet your needs in the location and price range you desire.

    Step 2: Get Preapproved For A Mortgage Loan

    Before we start looking at listings, you need to get preapproved. In order to find out how much you can reasonably afford for monthly payments as well as down payments, you will need to get preapproved for mortgage financing. When you have a discussion with your mortgage broker, you will learn about all of the programs available for MN first time home buyers. Did you know that there are down payment assistance programs for Golden Valley first time buyers that can help you with your down payment? The only way to determine if you are eligible is to get preapproved for a home loan.

    Step 3: Let's Start Looking At Homes

    Once you have been preapproved for a loan we can start looking at homes. After looking at so many homes on the internet, this is the fun part of the whole process. We will look at as many homes as it takes before you find the one that ideally suits your needs. Once we find one, your mortgage lender and I will guide you through writing an offer, finalizing the loan and closing on your home!

    Living in Golden Valley, Minnesota

    The City ofGolden Valley is suburb of the Minneapolis, lying on the western edges of Hennepin County. With major employers such as Tennant Company and Honeywell, Golden Valley is also has the corporate headquarters of Pentair and General Mills. With a well developed Park and Rec department Golden Valley offers something to do for everyone. Just a short commute away from downtown Minneapolis homeowners of Golden Valley have access to a wide variety of employment as well as cultural activities. If you are considering the purchase of Golden Valley Real Estate it is time to give me a call about Golden Valley, MN.

    Do you feel like you are ready to get started with the process of buying your first home? Please take a moment to call or email me and we'll discuss what you want for your Golden Valley home!

    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
  • Golden Valley Home Sellers: Rent It Out or Sell It?

    Posted Under: Home Buying in Golden Valley, Financing in Golden Valley  |  November 3, 2011 7:55 AM  |  330 views  |  No comments

    What To Do When Your Upside Down

    Many Golden Valley home sellers 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 today you need to pay off your mortgage in order to convey clean title to your buyer. 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 who need to move are considering the possibility of putting their current home for rent in order to buy a new one.

    Golden Valley Home Sellers: Can You Cover Your Expenses?

    The good news today is that with the tougher housing 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 real shortage of rentals available today. Many people are finding that they can more than cover the expenses for retaining the home with these higher rents available.

    The goal, of course, is to rent the old home out long enough to allow the Minnesota 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 specific guidelines for those Golden Valley 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.

    Get preapproved before listing your home for sale

    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 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, VA, conventional, or other types of loans.

    Community Information About Golden Valley

    The City of Golden Valley is suburb of the Twin Cities, lying on the western edges of Hennepin County. With major employers such as Honeywell and Tennant, Golden Valley, MN is also has the headquarters of Pentair and General Mills. With an excellent city department for Park and Rec Golden Valley offers something to do for everyone. Just 15 minutes from downtown Minneapolis residents of Golden Valley have access to a wide variety of cultural activities. If you are thinking about buying or selling Golden Valley real estate please don't hesitate to give me a call.

    If you would like to discuss the reality of 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
  • Golden Valley Houses For Sale And FHA Loans

    Posted Under: Home Buying in Golden Valley, Financing in Golden Valley, Property Q&A in Golden Valley  |  August 17, 2011 6:26 AM  |  495 views  |  No comments

    Golden Valley FHA Mortgages

    One of the common ways of financing a purchase of Golden Valley real estate is through a loan program known as FHA (the Federal Housing Administration). This federal program originated back in the 1930�s to help with a similar situation we have today when home foreclosures were growing rapidly. FHA loans have many advantageous guidelines for both the MN first time home buyer as well as the homeowner who is renting out their current home to buy another.

    While the days of the no down payment loan are largely gone, Golden Valley FHA mortgages offer the smallest down payments available in Minnesota. With a smaller down payment along with the seller paying much of the buyer's closing costs today allows the Minnesota home buyer to get in for a much more reasonable down payment. This is also a great advantage for Minnesotans who are selling their home with little or no equity and need to buy their next home with a smaller down payment than usual.

    FHA and Credit Scores

    FHA loans offer more expansive credit guidelines as well. Golden Valley home buyers who have some credit challenges may qualify for FHA whereas not a conventional loan. Additionally, unlike conventional loans which have significant pricing adjusters based on the home buyers credit scores, rates and discount points with FHA loans vary only slightly based upon the borrower's credit score.

    One important factor you should know about FHA loans is called assumability. This means that in the future when you are ready to sell, the new home buyer of your home may have an option to take over the payments on your loan and assume the obligations of the loan. This could be an attractive selling feature to your home if interest rates are higher when you put your house up on the market for sale. When a new buyer assumes your FHA loan they make up the difference between your sales price and your loan amount through a down payment.

    FHA Down Payment Assistance Through Minnesota Housing Finance Agency

    First time home buyers in Golden Valley may benefit through beneficial interest rates and down payment assistance through Minnesota's MHFA program. This state agency buys FHA loans and makes use of special program features which allow for second mortgages on the property to be used as a method of reducing the first time home buyers required down payment. While maximum income limits apply for this program, a traditional FHA loan does not have maximum income limits.

    First Step To Buy A Home: Get Preapproved

    For many Minnesota first time home buyers the big, intimidating question is where do I start the process? Your first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a comfortable price range.

    Golden Valley Information

    The fine City of Golden Valley is an inner ring suburb of the Twin Cities, lying on the western edge of Hennepin County. With major employers such as Tennant Company and Honeywell, Golden Valley is also has the corporate headquarters of General Mills. With an excellent city department for Park and Rec Golden Valley offers something to do for everyone. Just a short commute away from downtown Minneapolis homeowners of Golden Valley have access to a wide variety of employment as well as cultural activities. If you are thinking about buying or selling Golden Valley real estate please take a moment to call me.

    If you would like to learn more about buying a Golden Valley home using an FHA loan, please email me or give me a call. With great rates and low prices today, it is a great time to be a home buyer in Minnesota!

    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
  • Golden Valley homes For Sale: How To Find And Buy

    Posted Under: General Area in Golden Valley, Home Buying in Golden Valley, Financing in Golden Valley  |  August 4, 2011 9:40 AM  |  484 views  |  No comments

    There are a few different ways to find homes for sale in Golden Valley that people use when buying a home. Since most Minnesota home buyers start their search for homes on the internet these days, I have found that many people miss out on the best ways to search for a home. I would like to share with you some of the benefits and downfalls to each of these various methods for finding homes for sale in Golden Valley.

    Finding Golden Valley homes For Sale On The World Wide Web

    One of the best ways to begin is to go to my website to search for and find all of the homes for sale that are listed all of the local real estate brokers, with all of the details available. Large national websites leave out much of the important details such as property taxes on the home due to the sheer size of their websites. The problem is that when buying a home factors such as property taxes on the homeare one of the single biggest factors in determining the amount of your monthly payments so why would you want to search for Golden Valley homes without such an important detail? Please take a moment to visit my website and begin your search for Golden Valley homes listed for sale today.

    Search for Golden Valley homes Via Email

    If you're serious searching for a Golden Valley homes, send me a quick email to tell me what you are looking for. I can send you advanced searches via email that will tell you not only what�s available on the market, but what has just become available. You will be instantly notified via email with new property listings that meet your advanced search critieria when new listings hit the MLS. Because I need to know the critieria of what you are searching for (for example: 2 bedroom homes in Golden Valley between $165,000 and $215,000), please send me a brief email so we can begin the process of finding you a home!

    A little bit of education goes a long ways, doesn�t it? If you can get exactly what you need via email such as my customized search why would a home shopper need anything else? The strategy of Luck and Guesswork involves using the large national websites with limited information! Without utilizing a customized search to finding the listings that you want, too many home buyers will rely on the strategy of Luck and Guesswork offered by the larger national websites.

    Community Info for Golden Valley

    The City of Golden Valley is suburb of the Minneapolis, lying on the western edges of Hennepin County. Home to large employers such as Honeywell and Tennant, Golden Valley is also has the corporate headquarters of General Mills. With an excellent Park and Rec department Golden Valley can offer everyone something to do for recreation. Just a short distance away from downtown Minneapolis people living in Golden Valley have access to a wide variety of social activities. If you are think about selling a home or buying Golden Valley it is time to give me a call about Golden Valley, MN.

    The First Step: Get Preapproved!

    For many MN first time home buyers the big, intimidating question is where do I start the process? Your very first step to home ownership is to get preapproved for a mortgage. By doing so you find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.

    Please take a moment to understand the strategy you are using to search for a home which is possibly the biggest investment you will make in your lifetime. I encourage all home buyers that I work with to be proactive and to take control of the property search strategy! Please take a moment to visit my website and find all of the Golden Valley.

    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.

 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer