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Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN
  • Buy Your First Home In Prior Lake In 3 Steps

    Posted Under: Home Buying in Prior Lake, Financing in Prior Lake  |  March 14, 2012 6:24 AM  |  682 views  |  No comments
    Minnesota first time buyers are usually surprised when I show them all of the affordable Prior Lake Real EstateCITY. The fact is that the housing affordability index in Minnesota has not been this low in years. While many renters have only read the negative press about values in real estate, others have seen it from a completely different angle With the incredible combination of lower property values and historic low interest rates will make your house payments quite often lower than your rent payments. So if you would like to talk about becoming a MN first time home buyer, I would truly love to talk with you.

    In order for you to take advantage of the great market values in today's market, there are 3 steps to get started.

    Step 1: Call Me To Discuss Your Goals

    There are many more things to consider when buying a Prior Lake home than just the monthly payment. I will want to talk with you about what your goals are for home ownership. After learning more about what you want to achieve we will talk about the ideal locations for your home as well as how to get a great value. Depending upon when you want to move we will talk about the benefits of buying your home from a traditional seller versus a short sale. After this discussion I will set up an automated home search of all the listings that could possibly meet your needs.

    Step 2: Get Preapproved

    Before we start looking at listings, you need to talk with a mortgage lender. The only way to know what you will be able to afford for monthly payments as well as down payments, you will need to get preapproved through a lender for mortgage financing. When you talk with your mortgage lender, 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 Prior Lake first time buyers that can help you with your down payment? The only way to determine your eligibility is to get preapproved for a mortgage loan.

    Step 3: Let's Start Looking At Listings

    Once you have been preapproved we can start looking at property listings. 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.

    City of Prior Lake Information

    Known as the sister city of Shakopee, MN first time home buyers and move up buyers alike, the city has doubled in size over the past 20 years. The combination of Upper and Lower Prior Lakes make up the largest lake in the lower Twin Cities area. With 54 city parks and a well established Park and Rec, it seems like there is always something to do in Prior Lake. If you are looking to buy or sell a home here, please give me a call.

    Do you feel like you are ready to get started with the process? Please email me and we'll discuss what you want for your Prior Lake 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
  • Renting Out Your Prior Lake Home To Buy Another

    Posted Under: Home Buying in Prior Lake, Financing in Prior Lake, Rentals in Prior Lake  |  October 28, 2011 6:24 AM  |  564 views  |  No comments
    Many Prior Lake home sellers are challenged with the problem of being "upside-down" on their mortgages. The fact is that in order to sell your property in the Minnesota real estate market today you need to pay off the entire mortgage in order to sell the home. Unless you want to arrange a "short sale" with your mortgage lender, this means you will bring money to the closing in order to pay off the remaining balance that you owe. As a result many home sellers in Prior Lake who want to move 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 real estate 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 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 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.

    Do lenders count the rental income on my old house?

    Lenders have guidelines for the Prior Lake 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 have a chance to meet to discuss the value of your current home it is important 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 preapproval is generally free and contains no loan obligation. A good mortgage lender will be able to analyze all of the financing options available to you such as through MN FHA loans, Conventional, VA, or other types of mortgage financing.

    Prior Lake Community Info

    Known as the sister city of Shakopee, MN first time home buyers and move up buyers alike, the city has doubled in size over the past 20 years. The combination of Upper and Lower Prior Lakes make up the largest lake in the lower Twin Cities area. With 54 city parks and a well established Park and Rec, it seems like there is always something to do in Prior Lake. If you are looking to buy or sell a home here, please give me a call.

    If you would like to discuss the reality of renting out your current home, please take a moment to call or 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
  • Finding Prior Lake homes For Sale

    Posted Under: Home Selling in Prior Lake, Financing in Prior Lake  |  October 14, 2011 12:24 PM  |  431 views  |  No comments

    Finding homes in Prior Lake

    There are a few different ways to find homes for sale in Prior Lake that I would like to tell you about. Since most Minnesota home buyers start their search for homes on the internet these days, I find that many miss out on all of the possible opportunities to search for and find the right home. I would like to talk with you about the pros and cons to each of the methods for finding homes for sale in Prior Lake.

    Finding Prior Lake homes For Sale On The Internet

    One of the first places to start is to go to my website to search for all of the available homes from all of the local 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 issue is that when buying a homes in Prior Lake the property taxes are one of the largest factors which impact your monthly mortgage payments so why would you want to search for Prior Lake homes without such an important detail? Please take a moment to visit my website and begin your search for Prior Lake homes listed on the market today.

    Search for Prior Lake homes Via Email

    If you are currently searching for a Prior Lake homes, let's talk about the specifics of the type of home you want. I will create an advanced search that will show you not only what is on the market via email, but also what listings have just become available. You will be instantly notified with new listings that meet your search critieria when they become available on the market. Since I need to know the paramaters (such as 3 bedroom homes in Prior Lake between $150,000 and $200,000), please email me so we can begin the email search process.

    A bit of education can go a long way, doesn�t it? If you can get exactly what you need via email such as my customized search why would you need anything else? The strategy of Luck and Guesswork involves using the websites from the large national companies that offer limited information! Without a customized approach to searching for the house that you want to buy, I find that too many Minnesota home buyers rely on the strategy of Guesswork and Luck.

    Info about Prior Lake

    Known as the sister city of Shakopee, MN first time home buyers and move up buyers alike, the city has doubled in size over the past 20 years. The combination of Upper and Lower Prior Lakes make up the largest lake in the lower Twin Cities area. With 54 city parks and a well established Park and Rec, it seems like there is always something to do in Prior Lake. If you are looking to buy or sell a home here, please give me a call.

    First Step: Get Preapproved

    One of the most important factors in searching for a home is to get preapproved for mortgage financing. Most buyers leave it to the last minute partly because it is the least fun of the whole process. But it�s very important, especially for the MN first time home buyer to get preapproved for a hoome loan before searching for a home. Please call or email me and I will help you get started in the process with a MN loan originator.

    Looking For Prior Lake homes?

    Please invest the time to properly 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 stategy for home searches. Come to my website and find all of the Prior Lake.

    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
  • Are Prior Lake Towhomes Right For You?

    Posted Under: Home Buying in Prior Lake, Financing in Prior Lake  |  October 11, 2011 9:06 AM  |  411 views  |  No comments

    Prior Lake townhomes for sale: The Pros and Cons

    There are a lot of good reasons to look for Prior Lake townhomes for sale. Over recent years this type of housing has offered Americans homeownership with a more care-free lifestyle. With lower house maintenance costs and affordable prices, many people find townhome living to be more conducive to their lifestyles. So what are the pros and cons to owning a Prior Lake townhome?

    Prices for Prior Lake townhomes for sale

    Prior Lake townhomes for sale are quite often priced more favorably than traditional single family housing largely due to the shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a Prior Lake townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.

    This does not mean that the maintenance is free, of course. As a part of your responsibility for living in a Prior Lake townhome you will be required to pay a monthly association fee. This fee covers a variety of things but the extent to what it covers can vary from one association to another. For example, while your association fees might include home insurance in one association, you might have to pay that separately for that in another. It is important to check into these things before you make your decision to buy as your monthly costs could vary significantly depending upon the association.

    Known as the sister city of Shakopee, MN first time home buyers and move up buyers alike, the city has doubled in size over the past 20 years. The combination of Upper and Lower Prior Lakes make up the largest lake in the lower Twin Cities area. With 54 city parks and a well established Park and Rec, it seems like there is always something to do in Prior Lake. If you are looking to buy or sell a home here, please give me a call.

    FHA Financing and Prior Lake townhomes for sale

    An important note to those buyers using an FHA loan to purchase your townhome, be sure to check out how the association was formed before you make you write any purchase agreement. In many cases in MN, townhome associations were formed as a condominium association which saved some expenses for the developer. If it is actually a condo association, FHA has special requirements for condominiums and will treat this as one. If it is not yet approved by FHA, the process for getting it approved can be time consuming and a bit aggravating for all involved and may delay your purchase closing.

    Prior Lake townhomes for sale: The Pros

    • Low maintenance lifestyle
    • Less expensive homes
    • Shared amenities such as recreational areas and/or swimming pool
    • Often a small back yard
    • No neighbors located below or above as is common in condos

    Prior Lake townhomes for sale: Cons

  • Townhome association monthly dues
  • Small yard or occasionally no yard at all
  • Shared walls can result in hearing noise from neighbors

      MN First Time Buyers First Step

      For many MN first time home buyers the big question is where do I start? Your very first step towards buying your first home is to get preapproved for a first time buyer's mortgage. In so doing you will find out how much you are qualified for so that we can search for homes in the right price range.

      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
  • Shakopee First Time Buyers: How To Buy

    Posted Under: Home Buying in Shakopee, Financing in Shakopee  |  October 10, 2011 3:23 PM  |  415 views  |  No comments
    Are you in the early stages of planning on buying your first house in Shakopee? Many renters today are realizing that the recent rise in rent payments is making Shakopee more reasonable than ever before. With mortgage rates at record lows and reduced property values the monthly payments on your first home in Shakopee may be even lower than what you are paying for rent! f you are a Minnesota first time home buyer I would love the opportunity to talk with you about the possibilities.

    In order to take advantage of today's great real estate values, there are 3 steps to get started.

    Step 1: Finding Out What You Want

    There are more things for you to consider when buying a house than the monthly mortgage payment. I will want to have a discussion with you what your short and long term goals are for buying a home. 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 the move to happen we will discuss the benefits of buying your home from a traditional seller versus a short sale. After this discussion I will set up an automated home search of all the listings that could possibly meet your needs in the location and price range you desire.

    Step 2: Get Preapproved For A Mortgage Loan

    Before we go out looking for homes, you need to get preapproved. In order to find out how much you can reasonably afford for monthly mortgage payments as well as down payments, you will need to get preapproved for financing. When you talk with your mortgage lender, you will learn about all of the excellent programs available for MN first time home buyers. Did you know that there are down payment assistance programs for Shakopee first time buyers that can help you put as little as $1,000 down? The only way to determine your eligibility is to get preapproved for a mortgage loan.

    Step 3: Let's Go Look 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.

    Conveniently located south-west of the city of Minneapolis, Shakopee MN is a popular bedroom community of the Twin Cities. Also known as the county seat of Scott County, the city of Shakopee has more than tripled in size over the last twenty years. Every year Shakopee attracts tourists from all around the area with popular destinations such as the Canterbury Park horse race track, the Valley Fair amusement Park as well as the Renaissance Festival. As an outer ring suburb many Shakopee residents commute to downtown Minneapolis for employment. MN first time home buyers in this area in this area will want to look into the Scott County home buyers club for up to $4,000 in down payment assistance.

    Are you ready to start with the process? Please email me and we'll discuss what you want for your Shakopee 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
  • Shakopee First Time Buyers: How To Buy

    Posted Under: Home Buying in Shakopee, Financing in Shakopee  |  October 10, 2011 3:21 PM  |  385 views  |  No comments
    Are you in the early stages of planning on buying your first house in Shakopee? Many renters today are realizing that the recent rise in rent payments is making Shakopee more reasonable than ever before. With mortgage rates at record lows and reduced property values the monthly payments on your first home in Shakopee may be even lower than what you are paying for rent! f you are a Minnesota first time home buyer I would love the opportunity to talk with you about the possibilities.

    In order to take advantage of today's great real estate values, there are 3 steps to get started.

    Step 1: Finding Out What You Want

    There are more things for you to consider when buying a house than the monthly mortgage payment. I will want to have a discussion with you what your short and long term goals are for buying a home. 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 the move to happen we will discuss the benefits of buying your home from a traditional seller versus a short sale. After this discussion I will set up an automated home search of all the listings that could possibly meet your needs in the location and price range you desire.

    Step 2: Get Preapproved For A Mortgage Loan

    Before we go out looking for homes, you need to get preapproved. In order to find out how much you can reasonably afford for monthly mortgage payments as well as down payments, you will need to get preapproved for financing. When you talk with your mortgage lender, you will learn about all of the excellent programs available for MN first time home buyers. Did you know that there are down payment assistance programs for Shakopee first time buyers that can help you put as little as $1,000 down? The only way to determine your eligibility is to get preapproved for a mortgage loan.

    Step 3: Let's Go Look 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.

    Conveniently located south-west of the city of Minneapolis, Shakopee MN is a popular bedroom community of the Twin Cities. Also known as the county seat of Scott County, the city of Shakopee has more than tripled in size over the last twenty years. Every year Shakopee attracts tourists from all around the area with popular destinations such as the Canterbury Park horse race track, the Valley Fair amusement Park as well as the Renaissance Festival. As an outer ring suburb many Shakopee residents commute to downtown Minneapolis for employment. MN first time home buyers in this area in this area will want to look into the Scott County home buyers club for up to $4,000 in down payment assistance.

    Are you ready to start with the process? Please email me and we'll discuss what you want for your Shakopee 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
  • Shakopee First Time Buyers: How To Buy

    Posted Under: Home Buying in Shakopee, Financing in Shakopee  |  October 10, 2011 3:18 PM  |  370 views  |  No comments
    Are you in the early stages of planning on buying your first house in Shakopee? Many renters today are realizing that the recent rise in rent payments is making Shakopee more reasonable than ever before. With mortgage rates at record lows and reduced property values the monthly payments on your first home in Shakopee may be even lower than what you are paying for rent! f you are a Minnesota first time home buyer I would love the opportunity to talk with you about the possibilities.

    In order to take advantage of today's great real estate values, there are 3 steps to get started.

    Step 1: Finding Out What You Want

    There are more things for you to consider when buying a house than the monthly mortgage payment. I will want to have a discussion with you what your short and long term goals are for buying a home. 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 the move to happen we will discuss the benefits of buying your home from a traditional seller versus a short sale. After this discussion I will set up an automated home search of all the listings that could possibly meet your needs in the location and price range you desire.

    Step 2: Get Preapproved For A Mortgage Loan

    Before we go out looking for homes, you need to get preapproved. In order to find out how much you can reasonably afford for monthly mortgage payments as well as down payments, you will need to get preapproved for financing. When you talk with your mortgage lender, you will learn about all of the excellent programs available for MN first time home buyers. Did you know that there are down payment assistance programs for Shakopee first time buyers that can help you put as little as $1,000 down? The only way to determine your eligibility is to get preapproved for a mortgage loan.

    Step 3: Let's Go Look 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.

    Conveniently located south-west of the city of Minneapolis, Shakopee MN is a popular bedroom community of the Twin Cities. Also known as the county seat of Scott County, the city of Shakopee has more than tripled in size over the last twenty years. Every year Shakopee attracts tourists from all around the area with popular destinations such as the Canterbury Park horse race track, the Valley Fair amusement Park as well as the Renaissance Festival. As an outer ring suburb many Shakopee residents commute to downtown Minneapolis for employment. MN first time home buyers in this area in this area will want to look into the Scott County home buyers club for up to $4,000 in down payment assistance.

    Are you ready to start with the process? Please email me and we'll discuss what you want for your Shakopee 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
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