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Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN
  • Ready To Buy A home in Mahtomedi?

    Posted Under: Home Buying in Mahtomedi, Financing in Mahtomedi  |  January 9, 2012 9:30 AM  |  456 views  |  No comments
    Do you want to learn about how to buy a home in Mahtomedi? Learning how to buy a home can be confusing for many buyers, especially MN first time home buyers. Since this process can be rather complicated I wrote this blog post to offer some tips of how to accomplish your goal.

    How To Buy A home in Mahtomedi

    Most home buyers begin their search on the internet, of course. There are many places to do this but a good place for you to start is to use the MLS search on my personal website. There are thousands of websites out there but you will soon find that many lack all of the important details when searching for a home. The large national websites, for example, do not show the county property taxes for each home which is one of the most critical factors when estimating what your monthly payments will be.

    Search for a home in Mahtomedi on my website

    When you search for homes in Mahtomedi on my website you will find all of the property listings from all of the real estate companies. Because I am a member of the Multiple Listing Service (MLS), my property website will offer you complete details from every company. One of the other things I can do is to set up an advanced search for you so that I can email listings in your price range as they come available.

    Get Preapproved To Buy A home in Mahtomedi

    How will you know what kind of price range you should be searching for? In order for you to know the amount of monthly payments you will have for a home in Mahtomedi you will want to get a preapproval letter for a mortgage loan. Getting preapproved is the most important part of the process for how to buy a home in Mahtomedi Since there is no cost or obligation when you get prequalified by one of our local MN mortgage lenders, you should do this right away so that you can clear any roadblocks there might be in the process of getting a home loan.

    Let's go look at homes!

    After you have been preapproved I will take you to available listings in your price range. I usually suggest that we look through at least 15 or more of these before you buy one. By doing this you will get educated on homes that are a excellent value for you to buy. When a home comes available meeting your needs you should be ready to make your offer since properties at a good value sell fast.

    After the purchase agreement, and before closing

    Once you�ve made your offer it usually takes about 30 or longer before closing. During this time your lender will collect all of the necessary documentation they need from you to complete your loan approval. They will also order an appraisal on your home to estimate the value based on the sale of other homes. They will also order a title policy from a title company to make sure the title to the home is clean.

    Closing on your home

    After your loan has been fully approved you will be ready to close on the purchase of your new home. At the loan closing everyone gets together to sign documentation, exchange funds, and to exchange keys, garage door openers, etc. After you have gone through closing on your home you are ready to move in!

    Mahtomedi Community Info

    Mahtomdedi is a beautiful small outer-ring suburb of Saint Paul. Originally a small community of cottages and summer homes on White Bear Lake, Mahtomedia has grown to a stable population of about 7,600. With plenty of affordable real estate available, this is an excellent location both for the first time home buyer as well as a luxury lake home buyer. Conveniently located in Washington County, homeowners here have a 25 minute commute to downtown Saint Paul. If you're looking to buy or sell in Mahtomedi, please give me a call.

    Do you want to start talking about the process of looking for homes? Just send me a quick email as I am glad to help you begin your search for a home in Mahtomedi!

    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  |  606 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
  • Buying A home in Lake Elmo

    Posted Under: Home Buying in Lake Elmo, Financing in Lake Elmo  |  November 10, 2011 1:15 PM  |  452 views  |  No comments
    Would you want to learn something about how to buy a home in Lake Elmo? The answers to how to buy a home can be confusing for many home buyers, especially MN first time home buyers. As this process can be quite complext I would like to take a moment to share with you some tips of how to accomplish your goal.

    How To Buy A home in Lake Elmo

    Most MN home buyers begin their search for the perfect home on the internet. There are many places to do this but a good location for you to start is to use the MLS search engine on my website. There are thousands of websites out there but you will soon find that many lack all of the important details when searching for a home. National real estate websites do not show the annual property taxes due for each of the Minnesota real estate listings which is one of the most critical factors when estimating what your monthly payments will be.

    Search for a home in Lake Elmo on my website

    When you search for homes in Lake Elmo on my website you will find all of the available listings from all of the real estate companies in the area. Because I am part of the Multiple Listing Service (MLS), my property website will offer you complete details from every company. I can also set up a specific MLS search for you so that I can notify you by email when listings in your price range come available.

    Get Preapproved To Buy A home in Lake Elmo

    How will you know what price range for a home you should be searching for? In order to know what kind of monthly payments you will get for a home in Lake Elmo you will have to get prequalified for a home loan. This is the important first step in the process for how to buy a home in Lake Elmo Since there is no cost or obligation when you get prequalified by one of our local MN mortgage lenders, you should do this right away so that you can clear any roadblocks there might be in the process of getting a home loan.

    Let's go look at homes!

    After you have been preapproved I will take you out to look for homes in your price range. I generally recommend that we look through at least fifteen or more before you buy one. By searching extensively you will get educated on homes that are a excellent value for you to buy. When a home comes available meeting your needs you will want to be ready to make your offer since properties at a good value sell fast.

    After the purchase agreement, and before closing

    Once you have decided to make your offer it usually takes about 30 or longer before you go to your loan closing to finalize the purchase of your home. During this time your lender will collect all of the necessary documentation that they need from you to finish your loan approval. Additionally they will order an appraisal on the home to estimate the value based on the sale of other homes. They will also order a title policy from a title company to make sure the title to your new home is clean.

    Closing on your home

    After your home loan has been completely approved you will be ready for closing on your home in Lake Elmo. At loan closing, all of the involved parties get together to sign documentation and to exchange keys, garage door openers, etc. Once you�ve closed on your home you will now be a homeowner!

    With just a little over 8,000 residents residing amidst private neighborhoods and farmland, Lake Elmo has a small town atmosphere despite its close proximity to Saint Paul, MN. Situated in Washington County, homeowners in Lake Elmo have a short commute to the major employers in Saint Paul. Much of Lake Elmo is part of the Stillwater school district. If you want to buy any of the homes for sale in Lake Elmo, please call me today!

    Are you ready to start the process of looking for homes? Please just send me an email or give me a call as I am eager to help you begin your search for a home in Lake Elmo!

    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 Sell Your Afton Home

    Posted Under: Home Selling in Afton, Financing in Afton  |  November 7, 2011 8:54 AM  |  509 views  |  No comments

    Selling a home today in Afton can be a big challenge, especially with the tough competition from nearby short sales and 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. About half of the sales in today's Minnesota real estate market has come from traditional home sellers. Are you in the search for help to sell your Afton home?

    Why Use A Realtor To Sell Your Afton Home?

    It has never been more important to enlist the help of a Afton real estate agent who understands recent trends in market values. When we visit your home to complete a market analysis, we will compare your home to all of the recent sales in your neighborhood. We need to look at all of the houses that have sold within recent months to see what the actual sales prices have been. By doing this we will be able to estimate what price a buyer might pay for your house within a reasonable period of time.

    One of the challenges for many sellers today is in 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, 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 resulting expenses for the house through their renter's income.

    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 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 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, VA, conventional, or other types of loans.

    Afton, MN: Community Information

    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.

    The Call Is Free

    If you would like to learn more about the process of selling your Afton home call me. I will create a competitive market analysis at no obligation to you. We will discuss all of the options available in the market today. Feel free to send me an email or call me.

    Casey Anderson
    Sales Executive, Licensed Realtor in Minnesota
    IBR Realty
    caseyanderson@ibrrealty.com
    Cell 651-245-1820
    Woodbury, MN 55125
    With a focus on Woodbury real estate and surrounding communities.

  • Looking For Afton Rental homes?

    Posted Under: Home Buying in Afton, Financing in Afton  |  November 3, 2011 7:46 AM  |  471 views  |  No comments

    Afton Rental homes: Advantages of Buying vs. Renting

    If you are searching for Afton rental homes, let�s pause for a minute and consider the difference between renting homes versus buying. Since it is more expensive today to rent homes than to buy one isn�t it at least worth it to consider saving some money by buying a home?

    Afton Rental homes: Is It Worth The Cost of Renting?

    Afton rental homes, of course, typically have the advantage that you can get be released of a lease arrangement in about one year's time. I want you to remember that this advantage comes at a cost, however, , in that your rent payments will often times exceed those of a house payment. Additionally the rental deposit may well be in excess of the entry cost required for buying a Afton homes after considering all of the down payment assistance programs available for first time home buyers. Finally, perhaps the highest cost in renting a homes is the fact that you are helping someone else buy their home with your rent payments, versus buying your own home.

    Benefits To Afton Rental Afton

    The advantages may certainly be worth it, despite the high cost of renting, to rent if you are planning on moving again to a different city at the end of your lease. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

    Benefits To Buying Afton homes

    With all of the programs available to the MN first time home buyer today, it is hard to know where to start in terms of benefits. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

    First Step: Get Preapproved

    The first step in the process of buying a home is to get prequalified for financing. This means that you meet with a local mortgage lender who analyzes your credit, income, assets, and debts. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This first step can usually be done right over the telephone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.

    Afton: City Info

    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 have not yet thought of buying a homes I would like the opportunity to discuss with you about the benefits of both renting versus buying a home. I offer a totally free consultation, with no obligation and am glad to talk with you about the differences.

    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
  • Mahtomedi FHA Loans: Financing To Buy Your Home

    Posted Under: Home Buying in Mahtomedi, Financing in Mahtomedi  |  October 26, 2011 6:34 AM  |  444 views  |  No comments

    FHA Mortgages in Mahtomedi

    One of the common ways of financing a purchase of Mahtomedi real estate is through 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. MN FHA loans have several advantageous underwriting rules for both the first time home buyer as well as the homeowner who is selling one home to buy another.

    Mahtomedi FHA Loans: Not Just for First Time Buyers

    While zero down payments have most gone away, Mahtomedi FHA mortgages offer the smallest down payments available in Minnesota. This fact along with the fact that most negotiated offers today involves �seller paid closing costs� allows for a much more achievable entry cost. 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 loans offer more expansive credit guidelines than other types of home financing. Mahtomedi home buyers who have some credit challenges may often find that homeownership is a possibility due to this excellent federal program. Unlike conventional loans which have big pricing adjusters based on the home buyers credit scores, interest rates and discount points on FHA loans vary only slightly based on credit scores.

    One interesting fact about FHA loans is that they are assumable by someone who buys your home. This means that in the future when you are ready to sell, the buyer of your home may find the rate attractive on your home and offer to take over your mortgage payments. This would be especially beneficial if market interest rates are higher when you put your house up for sale. When the buyer of your home assumes your FHA loan they will make up the difference between the sales price and your loan amount through a down payment.

    FHA Down Payment Assistance Through Minnesota Housing Finance Agency

    Mahtomedi first time buyers also may benefit through reduced interest rates and down payment assistance through Minnesota's MHFA program. This state program buys FHA loans and makes use of FHA�s special program features which allow for second mortgages on the home to be used for reducing the down payment. While maximum income limits may 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 intimidating question is where do I start? Your very first step towards buying your first home is to get preapproved for a mortgage. In so doing you will find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.

    Mahtomedi Community Information

    Mahtomdedi is a beautiful small outer-ring suburb of Saint Paul. Originally a small community of cottages and summer homes on White Bear Lake, Mahtomedia has grown to a stable population of about 7,600. With plenty of affordable real estate available, this is an excellent location both for the first time home buyer as well as a luxury lake home buyer. Conveniently located in Washington County, homeowners here have a 25 minute commute to downtown Saint Paul. If you're looking to buy or sell in Mahtomedi, please give me a call.

    If you would like to learn more about buying a Mahtomedi home using an FHA loan, please email me or give me a call. With housing affordability at the best it has been in years 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
  • Mahtomedi VA Loans: Buying Real Estate

    Posted Under: Home Buying in Mahtomedi, Financing in Mahtomedi  |  October 24, 2011 6:54 AM  |  445 views  |  No comments

    Benefits of Mahtomedi VA Loans

    One common financing option for buying Mahtomedi real estate for home buyers is available through the VA. This type of mortgage financing has increased by about twenty per cent over the last couple of years due in part to the increasing number of our Minnesota veterans returning from the service. Additionally with the loss of other options for zero down payment loans in Minnesota, the VA offers a benefit that offers eligible buyers a unique opportunity to buy their home with no down payment.

    Many veteran home buyers misunderstand the fact that they may use their VA financing benefit multiple times. As a result veterans do not necessarily need to be a first time buyer in order to use their VA eligibility. This can be a perfect solution for veteran's who own homes and who want to sell their existing home to buy another but who don't have a lot of equity in their home. Since they will be able buy their next home with no down payment with a Minnesota VA loan they might be able to afford to sell their home without receiving any proceeds from equity in order to buy the next.

    Mahtomedi VA Loans: First Determine Your Eligibility

    Veterans must first determine 2 things to see if they will be qualify for a VA loan. First they must see if they are eligible for a VA Certificate of Eligibility (COE). They can apply for this online or more simply right through their Minnesota mortgage banker. There are several categories for eligibility and I encourage veterans to check with the VA or to research their eligibility online

    Please note that the Certificate of Eligibility offers a guarantee to the lender which will pay off some of the losses to the lender if the home goes into foreclosure. The VA Funding Fee is the guaranty fee paid by the veteran which is commonly financed within the mortgage loan. The VA funding fee is waived by the VA for those veterans who have service related disabilities.

    Mahtomedi Veterans: Get Preapproved

    The second thing a veteran must determine is if they qualify for the standards of the VA home loan. I encourage all veterans to talk with a MN mortgage banker to get preapproved for MN VA loans before we go out shopping for Mahtomedi homes. By going through the preapproval the lender will review your financial scenario to determine if you meet the requirements for a VA loan. This critical first step is usually free and can be done within a few days. In fact many MN VA lenders will do this right over the phone, even on weekends when you're off work.

    Mahtomedi Community Information

    Mahtomdedi is a beautiful small outer-ring suburb of Saint Paul. Originally a small community of cottages and summer homes on White Bear Lake, Mahtomedia has grown to a stable population of about 7,600. With plenty of affordable real estate available, this is an excellent location both for the first time home buyer as well as a luxury lake home buyer. Conveniently located in Washington County, homeowners here have a 25 minute commute to downtown Saint Paul. If you're looking to buy or sell in Mahtomedi, please give me a call.

    If you are a Mahtomedi veteran and are interested in buying your first home please just give me a call. Whether you have a home to sell or are ready to buy your first, Mahtomedi VA loans are a great way to buy a home in today�s market. With record low rates and reduced home values many vets are finding that it is cheaper to buy a home than to rent!

    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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